For Republicans, the plan steers a steady path limiting the growth of spending while assuming $228 billion in additional tax cuts over five years, much of which would go toward extending GOP tax cuts slated to expire in 2010.

They credited existing tax cuts with a booming economy producing surging revenues that are driving current-year deficit estimates perhaps $100 billion below the record $423 billion in red ink predicted by the White House in February.

Majority Leader John Boehner, R-Ohio, said the GOP blueprint “strengthens our efforts to control spending and, coupled with a robust economy fueled by tax relief, is making real progress in driving down the deficit.”

A Harvard University paper in December concluded that up to 50 percent of a cut in capital-gains taxes would flow back to the Treasury in new revenues.

“The feedback is surprisingly large,” concluded N. Gregory Mankiw, the study's co-author. He headed Bush's Council of Economic Advisers from 2003 to 2005.

Mankiw's study also concluded that the Treasury payback would be 17 percent of the tax-cut's cost if the reduction were on wages instead of capital.

That's in line with a December study by the CBO. It looked at a hypothetical 10 percent cut in income-tax rates. It concluded that up to 22 percent of the lost revenue could be regained over five years, and up to 32 percent over five more years.

But paybacks of 50, 17, 22 or 32 percent still mean a net revenue loss for the Treasury.

Originally posted by sardonicus:
Of course you can 'rhoid. Whatever made you think you couldn't? Been reading too much Marx perhaps? ....you cannot without the Rodina's, oops, I mean party's permission. Versus, anything goes unless it infringes on another's rights.
Btw did you pick up on the Faye Flam article about Chimp Human couplings a few million sunsets back? I remember your comments on the possibility of Hiv crossing over to humans via the men monkeying with monkeys a while back. Lol this must be more GOP BS.