AEIdeas

The public policy blog of the American Enterprise Institute

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Discussion: (6 comments)

  1. Jon Murphy

    We also have empirical work by the IMF, Harvard University and MIT that find spending cuts are a far more effective way to reduce the deficit than tax hikes.

  2. SeattleSam

    Jim, you pose the question: “Why would any pro-growth politician vote for such a plan?” They wouldn’t, but most Democrats are not pro-growth.

  3. BigMamaTEA

    The more I watch these bozos in action, the more I begin to think; maybe we should shut off their money supply.
    Dimwit criminals!

  4. MacDaddyWatch

    Schumer and his team of libs gave us Anthony Weiner…need I say more?

  5. Some have honor, some have pride, some patriotism, some integrity, some have all of the above.
    This fraud Sc(h)umer has nothing of the above, but he DOES have his ilk (money) AND the Dems (drones) who vote en-bloc for him in the bankrupt State of New York…

  6. Max Planck

    Schumer is right, but of course, Jimmy P. avoids the issue at hand.

    Raising marginal rates does not hurt blue states like New York, which have higher state and property taxes. In fact, raising those rates makes New York more competitive. I wrote to Sen. Schumer about this myself, and he gets it.

    Any time you lower federal rates, you slash the deductibility of local taxes, mortgage interest and property taxes. To do this NOW is playing with fire, especially as the home building industry is just coming back. It is one of the last major domestic manufacturing industries we have left- and it can’t be outsourced.

    This whole argument shows how effed up the country is: for the sake of preserving the 35% rate, by not allowing it to rise to 39.6%, the GOP is going to go through every single possible contortion in the tax code to do what one stroke of the pen would do in an instant. Again: someone earning $250k pays NO ADDITIONAL TAX, and someone earning $300k a year pays all of $38 per week in extra fed tax.

    This is the big philosophical moment for the GOP, which explains why it’s screwed.

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