It’s hilarious to witness the blatant hypocrisy of fiscal conservatives who railed against budget deficits during the Obama administration as if he was going to bring about financial armageddon, who now praise Donald Trump’s plan to slash taxes and blow a multi-trillion dollar hole in the nation’s budget.
The Trump administration “is using economic growth like magic beans — the cheap solution to all our problems,” said Maya MacGuineas, president of the non-partisan Committee for a Responsible Federal Budget. “But there is no golden goose at the top of the tax cut beanstalk, just mountains of debt.”
“…The right-learning Tax Foundation estimated that, even after accounting for growth, the Trump campaign plan would put a $2.6 to $3.9 trillion hole in the budget over 10 years.” — Reuters.
Trump has proposed spending $54 billion in additional military spending, to be offset by $54 billion in cuts in domestic spending not fully specified.
These so-called fiscal conservatives often complain that liberals engage in class warfare over taxes, but then whine with outrage that 47 percent of the public do not pay any federal taxes. Reading between the lines, they believe that the disabled, the elderly, and workers trying to survive on low incomes should pay more taxes, and that they — upper-class or upper-middle class doctors, lawyers, businessmen — should pay less in taxes. If that’s not class warfare, what is?
- Laffer Curve Becomes Popular Again.
- Will Conservative Budget Hawks Cave to Trump? For years, fiscal conservatives argued that social security and Medicare would have to be cut or restructured if the budget deficit was to be reduced. But they are complaining “not a peep” about Trump’s failure to touch these entitlement programs.
- Republican tax plan sets up battle with fiscal conservatives