Paul Ryan ADMITS He Has No Clue If The GOP Tax Plan Will Work
On Wednesday's Today show Savannah Guthrie asks Paul Ryan if the GOP's tax bill will blow a hole in the deficit, a deficit Ryan's party spent the past eight years railing against. Ryan admits that “no one knows” if we’re going to add to the deficit with this tax bill. However, the non-partisan Joint Committee on Taxation says the GOP tax bill will add $1.46 trillion to the deficit, while the conservative Tax Foundation estimated that the bill would add $1.4 trillion to the budget deficit over the next decade.
Keep your eye on the ball, this is the first step towards repealing entitlements likes Social Security and Medicare/Medicaid. When the GOP blows a hole in the deficit and wants to curb spending, while not increasing taxes, they will set their sites directly on entitlements.
Do you think a lowered tax rate for corporations will help spur enough growth to shrink the deficit? What sort of government spending would you like to see reduced or eliminated? Let us know in the comments or call the show at
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One of the "lowered tax" areas is the "pass through" entities. Traditionally these "pass through" entities are taxed as regular income, now they can deduct 20% of their income, which is significant for small business owners. I do believe small business will increase their spending next year, and it is good for the economy.
Usefull info ..thank you for sharing..@samseder
Great. very informative. thank you for sharing..@samseder
Well said. Who is paying for all of these tax cuts? Who came up with the questionable math where the solution was to count on an print imaginary money lol.
The tax plan raises only the imagination of the state and the government, but we are the people
What do you think you are
The tax cuts are going to be awesome for anyone who wants to start a business and for more than 80% of Americans. When I was a kid it was an embarrassment for people to be on entitlement programs because the economy was good. That will be the future. No one wants to be on handouts when they can earn a living on their own.
Tax cuts are theft.