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The Republicans have hatched a plan to force the CBO to cook the books and paint a rosy picture of the benefits of trickle-down economics. They call it ‘dynamic scoring.’ In fact, it’s a gimmick to help justify more tax cuts for the wealthy and profitable corporations. It’s what the first President Bush called voodoo economics – and he was right. The purpose of dynamic scoring is to conceal – not reveal – how Republican policies will affect the economy. The basic problem with what the right-wing economists call “dynamic scoring” is that it requires the CBO to count hypothetical growth as additional revenue. “That means counting the chickens before they hatch.
What history shows is that when you give tax breaks to the rich and large corporations, the rich get richer, corporate profits climb and the federal deficit soars. In these difficult times, we need realistic economic projections, not discredited theories, not voodoo economics.
originally posted by: ketsuko
At least there are books now. That's better than Democrats managed for the past six years.
originally posted by: TheArrow
Sanders needs to run for President, as long as he's Independent. I'd campaign and fund him.
In practice, dynamic scoring is just another way for Republicans to enact tax cuts and block tax increases. It is not about honest revenue-estimating; it’s about using smoke and mirrors to institutionalize Republican ideology into the budget process.
...the new tax-cutters not only claimed victory for their supply-side strategy but hooked Republicans for good on the delusion that the economy will outgrow the deficit if plied with enough tax cuts.