Thursday, October 11, 2012

Is CEO Romney's tax plan deficit-neutral?

Well, Mr. Romney insists that he won't vote for a plan that isn't deficit-neutral.

Yet no fact-checking organization that isn't beholden to the GOP (and vice-versa) says this is possible. There aren't enough deductions and loopholes out there to make the ends meet.

But I wonder if a President Romney might be able to rationalize signing a massive tax cut bill that increased the deficit equally massively--by invoking supply-side theology. That is, claiming that without the burdens of regulation and taxation, the captains of industry would then hire a lot of people and start a lot of businesses and thus grow our way out of the deficit.

This is exactly what the GOP did when it gained power in 2000. 

Hmmm. If memory serves that didn't work out so well.

Not to mention that supply-side-ism isn't a conservative policy. Conservative would be pay as you go, wouldn't it? 

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