Department of “Duh”

The Times had a story the other day: Surprise, all the Republican candidates’ tax plans increase the national deficit! The numbers (reduction in 2015 tax revenues, from the Tax Policy Center):

  • Romney: $600 billion
  • Gingrich: $1.3 trillion
  • (Late lamented) Perry: $1.0 trillion
  • Santorum: $1.3 trillion

I guess that makes Romney the “fiscally responsible” choice, at least among the Republicans. But President Obama’s tax proposals would only reduce 2015 tax revenues by $222 billion. (That’s $385 billion in Table S-4 less $163 billion in Table S-3.)

Second surprise: The big winners in all of these tax plans are the rich! (That’s not just in dollars, but in percentage increase in after-tax income.)

I don’t mean to be hard on the Times reporters. This is exactly the kind of story they should be writing. Someone has to point out that the same people who are complaining about deficits are proposing to vastly increase those deficits. Especially when their fantastic claims are essentially going unchallenged on the campaign trail.

This post originally appeared at The Baseline Scenario and is posted with permission.

2 Responses to "Department of “Duh”"

  1. sierra7   January 24, 2012 at 11:45 am

    Two "simple" changes would reduce the burden of taxes if followed thru with a complete revamping…reducing the common tax form to one page, without needing a tax lawyer to figure it out or a billion dollar business filling those page(s) out…
    DISMANTLE the National Security State
    STOP the corporate occupation of our government.
    They are self explanatory.

  2. wrc   January 24, 2012 at 12:31 pm

    Tax Policy Center is a Liberal organization so their projections are suspect as the minimum