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Friday, September 26, 2014

Ryan's magical theory about tax cuts increasing revenue-- how stupid can you get?

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COMMENT:  "Hard as I try, I completely fail to understand, on a personal level, this obsession with building a fantasy world. "  What's so difficult to understand? They don't want the same world you do, and they can't get it without lying. So they lie. Too bad it's political opposition is essentially co-opted, else they couldn't get away with it.  Not complicated. 
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Charlatans and Cranks Forever
By Paul Krugman, September 24, 2014

Back when Paul Ryan released his first big-splash budget — the one that had the commentariat cooing over its “seriousness” — it included a link to an absurd Heritage Foundation analysis claiming, among other things, that the plan would drive the unemployment rate down to 2.8 percent. (Heritage then tried, unsuccessfully, to send its nonsense down the memory hole and pretend it never happened.) Ryan defenders tried to claim that the plan didn’t actually rely on that Heritage stuff; but as some of us tried to explain, the plan actually didn’t add up, relying on a multi-trillion-dollar magic asterisk on tax receipts. And we predicted that sooner or later Ryan would embrace magical theories about how tax cuts increase revenue.

And here we are.

One disturbing effect if Republicans take the Senate, by the way, may be that the Congressional Budget Office becomes a purely partisan operation — effectively a department of Heritage.
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