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Thread: Paul Ryan and Dynamic Scoring

  1. #11

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    Quote Originally Posted by Parkbandit View Post
    LOLOL

    Now I KNOW you've experienced this... probably every day of your life.

    Attachment 7144
    Hipster Hawaiian shirt wearing shadow is indeed very Backlash.

  2. #12

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    This will make it much easier to pass tax cuts.

    Republicans to push ahead on new math for U.S. taxes, budget
    Wed, Dec 31 2014
    By Kevin Drawbaugh

    WASHINGTON (Reuters) - As Republicans assume control of the entire U.S. Congress in the new year, they are expected to push a controversial change to use more macroeconomic projections in determining the impact of tax and budget legislation on the federal deficit.

    Critics say wider use of "dynamic scoring," as the Republican-favored approach is known, would introduce new uncertainties into fiscal policy and degrade the value of present analysis now done by Capitol Hill staff experts.

    Republican advocates argue it would make fiscal analysis better reflect what they call economic realities. Dynamic scoring, as they envision it, would assumes that lower tax rates boost growth, offsetting some lost revenue.

    The "scoring" of tax and budget bills matters because it can influence whether a bill becomes law. Lawmakers shy from measures that would balloon the deficit. So any math that makes scores look less worrisome has political appeal.

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  3. #13

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    It's done. New Math for a new Congress.

    In the last Congress, Republicans tried to create a tax reform package that cut tax rates and offset the cuts by reducing tax preferences by the same amount. That proved impossible. New Math will allow cutting tax rates without the need to tamper with tax preferences that have vocal constituencies.

  4. #14

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    Quote Originally Posted by ClydeR View Post
    It's done. New Math for a new Congress.

    In the last Congress, Republicans tried to create a tax reform package that cut tax rates and offset the cuts by reducing tax preferences by the same amount. That proved impossible. New Math will allow cutting tax rates without the need to tamper with tax preferences that have vocal constituencies.

    Do some more research...this has been going on since the Reagan era...it's really nothing new.

  5. #15

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    Quote Originally Posted by Thondalar View Post
    Do some more research...this has been going on since the Reagan era...it's really nothing new.
    Not so. Certain People have been trying to change the budget rule for that long, but this is the first time it has passed.

  6. #16

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    Quote Originally Posted by ClydeR View Post
    Not so. Certain People have been trying to change the budget rule for that long, but this is the first time it has passed.
    In various iterations it has previously passed, but not as it's currently stated...you're right in that, but I'm also right in my point that it's been on the boards for that long.

  7. #17

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    Quote Originally Posted by Thondalar View Post
    In various iterations it has previously passed, but not as it's currently stated...you're right in that, but I'm also right in my point that it's been on the boards for that long.
    Two people who disagree cannot both be right. That's now how the universe works.

  8. #18
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    ClydeR has never denied being a pedophile.

  9. #19

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    Marco Rubio's new tax plan shows how dynamic scoring will work. Under static scoring, Rubio's plan would reduce revenue collected by the federal government by $414 billion per year, but under dynamic scoring, it would increase revenue collected by the federal government by $94 billion per year. There's more than a $500 billion difference between the static and dynamic scores. For reference, our federal budget deficit in 2014 was $483 billion.

    The main thing Rubio's plan does is reduce corporate tax rates, eliminate taxes on capital gains and interest, and allow immediate expensing of purchases by businesses of inventory and equipment.

    For personal income taxes, Rubio's plan raises the lowest rate from 10% to 15% and decreases the top rate from 39.6% to 35%. That's fair because it affects both the top and bottom rates. And of course, individuals won't have to pay taxes anymore on capital gains or interest income.

  10. #20

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    Republican Senator Bob Corker last week announced his retirement at the end of his current term. Today on Meet the Press, he announced that he will not vote for the Republican tax plan if it increases the deficit, but he said he would allow dynamic scoring to determine if it adds to the deficit.

    And I'm willing to accept a reasonable score on dynamic growth. A reasonable score on dynamic growth. Joint tax does those. There're some other groups that do it. But if it looks like to me, Chuck, we're adding one penny to the deficit, I am not going to be for it, okay? I'm sorry. It is the greatest threat to our nation. The greatest threat to our nation.

    It's like, Chuck, we've entered a party atmosphere here. You know, everybody was a fiscal hawk, kind of. Not really, but kind of, up until the election.

    Now, it's like there's a party going on up here, okay? Heck with revenue. Heck with, you know, constraining spending. So yes, I will remain a deficit hawk until I leave here. And Iím looking so forward to this tax reform debate because the one thing that hasnít been discussed is the four trillion dollars in base broadeners that have to occur for this to be successful, and every lobbyist in the world is gonna be up here fighting those.

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