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April 16th, 2015 at 8:15 pm
Rubio / Phil – Still ironic. And BTW, imagine if we actually collected 19% of GDP in taxes like in 1999 instead of 17.5% because of these idiotic tax cuts implemented while the country was at war! That would mean another $255B more taxes and would pretty much close down the deficit. Surprise, surprise, tax cuts don't generate more revenues.
Instead, we repeal the estate tax which is going to cost another $270B over 10 years! Money that the GOP still included in their so-called balance budget even though they knew they were going to cut that. I wonder how they will make up that loss of revenues – I guess since we can't raise taxes ever, we'll have to cut food stamps or Medicaid to help the 0.2% who have to struggle paying the estate tax! And worse of all, the new law wants to make any capital gain that you inherit tax free. So money that was never taxed comes to you via inheritance and you don't have to pay taxes on that. I would like someone here to explain to me how that's fair!