These Republicans want us to believe up is down and black is white, and forget that we just tried what they're recommending and it didn't create jobs. On Fox News Sunday, Pat Toomey first tried to downplay his comment that corporations should not
These Republicans want us to believe up is down and black is white, and forget that we just tried what they're recommending and it didn't create jobs. On Fox News Sunday, Pat Toomey first tried to downplay his comment that corporations should not have to pay any taxes. Then when defending keeping the Bush tax cuts in place, he tried to claimed that they would not add to the deficit.
Some Republican Senate candidates have suggested that extending the Bush tax cuts — which are scheduled to expire at the end of the year — will actually be good for the country’s bottom line, as the economic growth that results will more than offset the trillions of dollars in lost revenue. “By extending tax cuts you pay down the deficit, you grow the economy by giving people more money,” said Colorado Republican Ken Buck.
Today, on Fox News Sunday, Pennsylvania’s Republican Senate nominee Pat Toomey joined this club, telling Fox’s Chris Wallace that “it’s not clear” that extending the Bush tax cuts — while also lowering the corporate tax rate — would increase the deficit:
WALLACE: If you extend all the Bush tax cuts, if you were to cut, not eliminate, but cut the corporate tax rate — although that would produce some economic growth and therefore some increased revenues — there no question that would add trillions of dollars to the deficit. The question becomes, what are you going to cut? What are you going to cut in spending, what are you going to cut in entitlements, and I’d ask you to be specific sir.
TOOMEY: Sure. But first of all, it’s not clear that that would add trillions to the deficit, because I really believe that if we expand the base of the economy, which we could do by selectively lowering some taxes, you have a broader base on which to apply the tax.
Much more there from Think Progress so go read the rest and here's more from our own Jon Perr on Republicans and the economy and how well those Bush tax cuts worked out for us.
Tea party favorite Sen. Jim DeMint (R-SC) has said that he is willing to work with President Barack Obama to pass an extension for the Bush-era tax cuts.
DeMint suggested that he would only be willing to accept a deal where richest Americans are Read more...
Bill Kristol decided to double down on his remarks from a couple of weeks ago on Fox News Sunday and the fact that Republicans in Congress and the GOP shouldn't "fall on its sword" to defend tax breaks for millionaires. What Kristol was in favor of though, was the idea that Republicans should be supporting an extension of the payroll tax cuts and that it would give Republicans a "huge opportunity" to be "the champions of the working class and the middle class." Read more...
Apparently Fox News thinks that the daughter of mister deficits don't matter Dick Cheney who helped to break the bank on our spending for two invasions of countries that were never a threat to us and the Bush tax cuts that they justified as being okay because we had a surplus under Bill Clinton is somehow now qualified to weigh in on our problem with the deficit and this very dangerous game of kabuki theater we're watching now on raising the debt ceiling. Read more...