This was bullshit in 2017 and it still is.
Is it a prerequisite to be incapable of math to be a journalist?
That was literally the CBO estimate.
And the results literally proved the CBO wrong.
Tax cuts didn’t increase the debt, spending did.
No, they didn’t. The estimate was based on what would have happened with and without the bill. The debt did go up. Revenues didn’t go down because we were in a good economy, but you can’t say how much they would have been without the bill.
This is the most backwards way of economic thinking in the world. Were you in Congress in a prior life?
Revenues going up literally means that the tax cuts could not have added to the debt. This is basic high school math.
Spending and revenue are two separate things.
They should be tied together, but the way are not.
How much would revenue have gone up absent the tax cuts?
And…… a big part of the CBO estimate was reliant on a drastic increase in interest rates, which never materialized.
And…… and…. the dumbass author brays on about buying “bullets and bombs” but is too stupid to understand that you could zero out the defense budget and still run a deficit.
None, the tax cuts spurred the economy and job creation.
They appear to have spurred stock buybacks. Demand creates jobs. There’s not much evidence the tax cuts spurred the economy at all. The economy had been humming along fine since about 2009.
It doesn’t matter, they went up.
A better question is what would the debt be if they actually froze or reduced spending?
The math and increased revenue is literally the evidence.
To say their isn’t evidence is living in bizzaro world.
The fact revenue went up even with tax cuts is the evidence. If revenue dropped you might have a point, but it went UP.
So, the fact that the revenue was going up before the tax cuts is evidence of what?
And, it was going up faster before the tax cuts.
Maybe if you only compare FY 17 to FY 18. But look at 19 and 20 that is not true.
Looking at the increases in the previous years, some are in the quarter trillion range.
That is because we were coming off a giant recession.
I won’t repeat the Trump falsehood that the economy was a disaster when he took it over, but also not as strong as Obama claimed.
There is the “law of diminishing returns”.
FYI, from your link;
“Once the recession is over, the government should switch from expansionary to contractionary fiscal policy because it’s the best time to raise taxes and reduce the deficit and national debt“
So instead, we cut taxes during an economic expansion?