Sunday, 3 December 2017

Quote of the Day: On tax reform and US debt


"[Senators] are worried that the tax-reform bill that just got out of the Senate Finance Committee will grow the deficit, and hence the national debt. This is a very reasonable concern... However, the solution isn’t to implement a trigger in the bill that would terminate some of the tax cuts if the projected revenue does not materialise. There is so much wrong with this proposal that it is hard to know where to start. But I will try. First, [America's] debt problem is not a revenue problem: It’s a spending problem."
~ Veronique de Rugy, 'A ‘Revenue Trigger’ Isn’t the Solution to Fiscal Irresponsibility'
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