Those fiscally responsible Republicans, the ones who scream at the top of their lungs that we can’t afford to pay for anything that actually helps people, have already passed tax cuts that have blown a massive hole in the budget due to less revenue. Now they want to do it again, at a cost of another nearly $200 billion a year in higher deficits.
A second round of Republican tax cuts would add an additional $3.2 trillion to the federal deficit over a decade, according to a new report released by a centrist think-tank.
The package was taken up by a House committee on Thursday and is expected to head to a vote on the floor later this month.The GOP’s “tax reform 2.0” would make permanent many of the individual and estate tax provisions in the tax law Republicans passed last fall, which the Congressional Budget Office said would already add about $1.9 trillion to the deficit, factoring for interest costs.
The second round of cuts would cost $631 billion before 2028 and an additional $3.15 trillion in the decade after that, according to the Tax Policy Center.
And yet people still believe that the Republican party is the party of fiscal discipline. But the only time they give a damn about the deficit is when a Democrat is in the White House and when they need to justify cuts to food stamps, Medicaid, CHIP and every other social program they want to gut. So they starve the government of revenue with massive tax cuts that benefit almost exclusively the very wealthy, then use the reduction in revenue to justify cutting programs that aid those who aren’t well off. Sounds a lot like a scam, doesn’t it?