Interesting. But they have a serious terminology problem: Tax cuts, like the repeal of the so called death tax, don't actually save money... They only increase the deficit.
In order to save money one needs to cut expenditure.
Rogel
· 3 years ago
Why I am not surprised? :) The calculation of cost and saving is not for the budget but for the tax payer. Therefore a bill that cut the amount of taxes will be shown as saving - even if it will increase the deficit. Obviously cutting taxes without reducing government expenditure will lead to higher deficit and increase of cost for those who need to pay it (i.e. - us)
All Comments
But they have a serious terminology problem: Tax cuts, like the repeal of the so called death tax, don't actually save money... They only increase the deficit.
In order to save money one needs to cut expenditure.
The calculation of cost and saving is not for the budget but for the tax payer. Therefore a bill that cut the amount of taxes will be shown as saving - even if it will increase the deficit. Obviously cutting taxes without reducing government expenditure will lead to higher deficit and increase of cost for those who need to pay it (i.e. - us)