Pat Toomey: It's Not Clear That Extending Bush Tax Cuts Would Add Trillions To Deficit


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.

From Think Progress-- Toomey: ‘It’s Not Clear’ That Extending Bush’s Tax Cuts Would Increase 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.

The Sad History of Trusting the GOP on the Economy

Americans' Incomes Sank After Bush Tax Cuts

The Bush Tax Cuts in Pictures

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