Ryan: 'Nobody Knows' If Massive Tax Cuts Will Pay For Themselves

[DonViejo]

By MATT SHUHAM Published DECEMBER 20, 2017 11:52 AM

House Speaker Paul Ryan (D-WI) said Wednesday that “nobody knows” if Republicans’ tax bill, which would overwhelmingly benefit corporations and the wealthy while adding more than $1.4 trillion to the deficit, would pay for itself.

“Are you saying that the growth you’re going to get from this tax cut will equal the amount it would cost on the deficit side, so that it’s a wash?” Savannah Guthrie asked Ryan in an interview Wednesday. “Nobody knows the answer to that question, because that’s in the future,” Ryan said. “But what we do know is that this will increase economic growth.”

The CBO estimated in late November that the tax bill would add more than $1.4 trillion to the deficit over 10 years.

Ryan also said, incorrectly, that “every study under the sun” showed that Republicans’ tax bill would spur economic growth.

He specifically cited a survey from the National Association of Manufacturers, an advocacy group, which he said showed “the vast majority of businesses are going to do just what we say: reinvest in their workers, reinvest in their factories, pay people more money, higher wages.”

more
http://talkingpointsmemo.com/livewire/ryan-every-study-under-the-sun-wages-jobs

[spanone]

1. No ryan, many know.

[SHRED]

2. Yeah...We have no economic experts in America

[CrispyQ]

3. It's time to start drug testing Congress.

“the vast majority of businesses are going to do just what we say: reinvest in their workers, reinvest in their factories, pay people more money, higher wages.”

1. Reinvest in their workers means give all directors and above a nice pay raise.
2. Reinvest in their factories means update the executive suite & maybe add something the CEO wants, like a gym.
3. Pay people more money, higher wages - see #1.

[C_U_L8R]

4. Ryan: "I have no idea what I'm doing"

"but trust me"

[Irish_Dem]

7. Ryan: "We are passing a massive bill and have no idea what the outcome will be." nt

[Justice]

5. Ryan lied. NAM survey was about 50% of CEOs said

hire more people, raise wages and benefits. Not a vast majority.

[Blue_true]

6. Those companies would have likely done that anyway if business justified it.

The country is headed toward Kansas, or what we got when Reagan tried trickle down in the early eighties, a slowed economy, massive debt, followed by 11 tax increases. This time, republicans need to be held accountable for what happens, because Democrats always take the fall for getting the shit splatter cleaned up.