[744] in libertarians
Re: Ok, YOU Balance the Budget!
daemon@ATHENA.MIT.EDU (Derek Rose)
Thu Feb 23 23:28:32 1995
Date: Thu, 23 Feb 1995 23:26:19 +0001 (EST)
From: Derek Rose <rosed@world.std.com>
To: Scott N Carpenter <scottcar@MIT.EDU>
Cc: libertarians@MIT.EDU
In-Reply-To: <9502240341.AA21161@adam.mit.edu>
On Thu, 23 Feb 1995, Scott N Carpenter wrote:
> Vernon,
>
> Does your program account for the beneficial effect of tax cuts on the economy,
> which affects the tax revenue for the next year? After all, the federal budget
> is something like 20% of the economy. I think Libertarians would find it even
> easier to balance the budget if you took this into account, and also the effect
> of eliminating regulation. Of course, I'm probably asking for too much.
>
> scott
>
The Republicans proposed doing this with their "dynamic scoring" idea.
But this was widely derided as a return to "Reaganomics" -- and when
Reagan cut the income tax, no, federal income tax revenue didn't rise.
But why would libertarians be for dynamic scoring, anyhow? It just makes
it easier not to cut government spending. I read in the current American
Spectator that Republicans will probably go with my man Phil Gramm's
idea, of crafting a tax-cut bill where if the revenues exceeded static
scoring's estimates, the difference would be returned to taxpayers rather
than go to the gov't to spend. viva la revolution!
