Trump’s tax plan would raise deficit $12 trillion: analysis

nypost.com ^ | September 30, 2015 | Yaron Steinbuch

[Berlin_Freeper]

Donald Trump’s tax plan would cost a staggering $12 trillion over 10 years — despite his pledge not to increase the deficit, according to an analysis released Tuesday.

The Tax Foundation found that Trump’s changes to the individual tax code would reduce net revenues by about $10.14 trillion, after accounting for higher incomes due to an 11 percent jump in the gross domestic product.

The billionaire businessman’s corporate tax cuts also would bleed $1.54 trillion over the next decade, and his plan to dispense with the estate tax would cost $238 billion, the group said.

[Theoria]

'That’s the same windy predictions they made about Reagan’s tax cuts. At the end of Reagan’s 8 years, revenues had INCREASED 75%;'

And .gov spending increased even more, where were the cuts? The National debt suffered during those years as well[things haven't changed].

Politicians fight for cutting taxes but they fail to cut .gov

[GilGil]

Trump was on O’Reilly last night and for the first time I heard this he said he would take a meat cleaver to the federal agency budgets. He made it clear he would cut the hell out of the agency budgets in a very substantial way.

[DoughtyOne]

LOL..., heeeey!

[DoughtyOne]

While technically right Gil, the government can create a more job friendly environment. That does allow for the creation of jobs. And it is undeniably true that the government will have had a hand in the creation of those jobs.

No friendly job environment - no jobs

More friendly job environment - more jobs

If you want to get as technical as you are, you could also say government can’t kill jobs either.

The government doesn’t fire private workers anymore than it hires them.

[minnesota_bound]

The economy grows when you tax less. There is more money coming into the gov’t as a result of more people having more money and they are spending it on what they want. Taxes revenue increases as a result of the people spending. The way these guys figure things it is a fixed size pie and only the gov’t can get the slices.

[DoughtyOne]

I agree with your thoughts there.

Along the lines of what I said, here’s another aspect of it.

In truth, government doesn’t fire private sector employees any more than it hires them.

Businesses do both. So technically the government can’t cut private sector jobs any more then it can create them.

But I do believe we agree that government actions can heavily impact both.

I agree with Jefferson until you get to competing interests. And when you have them it’s generally best to have a referee. Either the courts or a government body needs to be available for that or you’d soon have hostilities between competing interests.

Ideally I’d like to see the government at almost zero, but in realty it doesn’t get as close to that as any of us want.

[The Ghost of FReepers Past]

You are correct, doing nothing is not an option. Debt is mounting. We need to cut programs, departments and spending.

[Ozark Tom]

Keep in mind that the Fed is on the hook for the US debt. The Fed is an independent entity with a charter from the US government to manage the currency. The Fed is a corporation set up by select family banking operations in 1913 thru manipulation of the US congress. The current operation is the third bank chartered by congress in US history.