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"I'm very concerned about the huge deficits we are running"

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hfojvt Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-22-08 07:16 PM
Original message
"I'm very concerned about the huge deficits we are running"
That was spoken by a McCain supporter on a PBS panel. If she is really worried about the deficit, then she should vote against McCain. McCain wants to make the Bush tax cuts permanent and that is a leading cause of deficits.

http://www.cbpp.org/1-31-07tax.htm

"Making permanent the 2001 and 2003 tax cuts and AMT relief would have a direct cost of $3.7 trillion over the next ten years (fiscal year 2009 through 2018), according to Joint Committee on Taxation and Congressional Budget Office estimates.

Without offsets, making the tax cuts permanent would increase the deficit and thereby add to the national debt. The interest payments needed to service this higher level of debt would amount to about $700 billion over the next ten years. Thus, the total cost of making these tax cuts permanent, including the related interest costs, would be $4.4 trillion over the ten-year period (see the appendix)."

McCain promises to cut $100 billion of earmarks. Even if that was true that would only be $1 trillion in savings, which would still be a deficit of $3.4 trillion over the ten years. To say nothing of the new tax cuts that McCain is proposing.

"In fiscal year 2007, the cost of tax legislation enacted since 2001, including interest costs, amounted to $300 billion. The fiscal year 2007 budget deficit totaled $162 billion. Thus, while the President now seeks to balance the budget in 2012, the budget would have been balanced already had tax legislation passed since 2001 not been enacted or been fully paid for."


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BayouBengal07 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-22-08 07:20 PM
Response to Original message
1. Don't confuse them with facts.
Tax cuts ALWAYS work. Ronald Reagan said so. Give the rich money and the benefits will trickle on to us!
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Juche Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-22-08 07:27 PM
Response to Reply #1
2. I can feel them peeing benefits on me now. nt
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hfojvt Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-22-08 07:42 PM
Response to Reply #1
4. Well the M$M is not gonna give them the facts
If the facts get past the propaganda, it might make a difference for some.
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gratuitous Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-22-08 07:35 PM
Response to Original message
3. We were running surpluses when Bush assumed office
And the Republicans controlled both houses of Congress for most of that time; so if someone is concerned about the deficits we're running, why in the wide, wide world of sports would someone vote for a Republican?

Hopefully, nobody on the panel had the bad taste to bring up these salient facts and make her look like a complete fool on the reddyo.
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