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take time to read it carefully.
snip from document -
Reduce marginal income tax rates and abolish the $1.7 trillion Alternative Minimum Tax.
MORE TAX CUTS THINKING THAT SOMEHOW, SOMEWHERE, A FORTH ATTEMPT MIGHT PERHAPS ENCOURAGE ECONOMIC GROWTH
•Encourage greater economic growth.
I do not believe that the level of American taxation is the cause of economic problems.
•Enhance the competitiveness of American businesses and workers against globalcompetition.
in other words, lower your own standard to compete with Haitian, Chinese, Indian sweatshops
•Reform spending through the tax code to eliminate investment distortions and tax gaming. tax evaders would not be forced to do so if America was a tax haven....hint, hint
•Change the debate about taxes in America from rate levels and carve outs tocompetitiveness, fairness and growth.•
If CBO scored this plan, it would find net tax relief of approximately $1.5 trillion.
TAX RELIEF IS NOT REVENUE - IT CUTS GOVERNMENT REVENUE BY 1.5 TRILLION. THIS DOES NOTHING - ABSOLUTELY NOTHING TO OFFSET THE DEFICIT.
There is more of course -
snip - Require the Finance Committee to report tax reform within six months that would deliver realdeficit savings by broadening the tax base, lowering tax rates, and generating economicgrowth as follows:•Simplify the tax code by reducing the number of tax expenditures and reducing individualtax rates, by establishing three tax brackets with rates of 8–12 percent, 14–22 percent,and 23–29 percent.•Permanently repeal the $1.7 trillion Alternative Minimum Tax.•Tax reform must be projected to stimulate economic growth, leading to increasedrevenue
Again, this tries to force tax cuts as a way to stimulate growth -even when it has FAILED to do so every single other time. I have not found ANY item that increases revenue as a tax increase. READ - TAX REFORM VIA LOWERING TAX RATES AND BROADENING THE BASE IS SOMEHOW SUPPOSED TO INCREASE REVENUE.
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