Wednesday, July 14, 2010

Daily Kos: Mitch McConnell Lacks Basic Math Skills


Via Daily Kos:

This is insane:

"That's been the majority Republican view for some time," Minority Leader Mitch McConnell told TPMDC this afternoon after the weekly GOP press conference. "That there's no evidence whatsoever that the Bush tax cuts actually diminished revenue. They increased revenue, because of the vibrancy of these tax cuts in the economy."

I was going to look this stuff up, but Ezra already did:

There's an ontological question here about what, exactly, McConnell considers to be "evidence." But how about the Congressional Budget Office's estimations? "The new CBO data show that changes in law enacted since January 2001 increased the deficit by $539 billion in 2005. In the absence of such legislation, the nation would have a surplus this year. Tax cuts account for almost half — 48 percent — of this $539 billion in increased costs." How about the Committee for a Responsible Federal Budget? Their budget calculator shows that the tax cuts will cost $3.28 trillion between 2011 and 2018. How about George W. Bush's CEA chair, Greg Mankiw, who used the term "charlatans and cranks" for people who believed that "broad-based income tax cuts would have such large supply-side effects that the tax cuts would raise tax revenue." He continued: "I did not find such a claim credible, based on the available evidence. I never have, and I still don't."

Read the rest at Daily Kos.

6 comments:

gp said...

I checked out that "budget calculator". It's a misleading piece of shit. Why? Because it provides no choices for massively reducing the biggest piece of discretionary spending in the federal budget- the military/intelligence spending. We could easily reduce that spending by $300-400 billion per year without any negative impact on our national security. It also didn't include any option for reducing spending on the prison/industrial complex by changing our insane drug laws.

Cubby said...

I've always assumed this. I'm glad to actually see some CBO numbers to verify it.

Writer said...

But I think for the what Daily Kos is talking about here (whether or not the tax cuts diminished revenue) the changes you suggest aren't necessary. And given that we're talking about Republican Mitch McConnell, I don't he would be for less spending for either the military or for the prison complex as a means to balance the budget - if anything he'd be for more spending in those areas.

And more my point here (other than I hate Mitch McConnell and am deeply angry that he is foisted upon me as a representative - I live in Kentucky), this seems to be a common misconception among some of the Repubs and the Tea Party - that somehow we can have all kinds of services from the government without paying for them.

Writer said...

Cubby, I've assumed the same. It's never made sense to me (and granted I'm not a expert) that the tax cuts would be a good thing because we would simply put the money back into the economy, thus creating more jobs and more revenue. More than anything it seems like the tax cuts led to more unwise spending and bad credit decisions. And at the same time, fewer programs to help the increasing numbers of poor people.

Then again...maybe I'm just talking out my ass.

Schweigsame said...

I wonder if always tight-lipped Mitch McConnell, he of the constant dour expression, ever has an honest, free, genuine belly laugh? Not a sarcastic cackle, not a sneer, but a true, life-affirming, healing, from the bottom of my solar plexus guffaw that brings unalloyed delight to others, as well as himself.

Or is he the nasty, tight-assed, crabby, prissy closet case he seems? I hope not, for his sake (and ours.)

Writer said...

Schweigsame, if he ever could, he hasn't in a very long, long time. If he ever could, I wonder if he's lost the ability. Any smile I see on his face seems to be as a result of schadenfreude.