Page 2 - Static Accounting News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Reagan cut the top rate from 70 to 50 and from 50 to 28, revenue did increase. the debt went up, also, but because spending was never cut. so spending is part of the equation. i would say cut the tax rate, seek economic growth. if revenue is declining, cut spending. >> melissa: yeah. you made a really important point there. when they talk about what these tax cuts will cost, in terms of lost revenue, it's called static accounting. they're counting on no growth when they tell you what that number is. you said nobody really knows what the result will be. that's so true. i wanted to make that poi...

Signal like rein it in. >> i don't think so, neil. i think he wants lower rates, get rid of deductions, exclusions, exemptions, trump talked about that as well. where mitch mcconnell was focusing was infrastructure spending, he wants to be sure that doesn't go awry, become like stimulus spending. >> i understand that. he was talking about tax breaks. and he was talking about static accounting. i don't want to get boring. >> that's true, you're right. >> you and i both know you don't price a tax cut like a spending initiative, that comes actively down the road. he is right to fear near term mak...

Suggesting over the next ten years and then netted out against that the impact of the tax cuts that you're also extending into the next decade, the impact on the budget of the plunge to america increases the deficit by about $1.5 trillion to $2 trillion over the next decade. that's simple arithmetic based on the numbers you gave me. >> that's the same kind of static accounting that has led to every evaluation of every tax cut over the last 50 years going back to the john f. kennedy tax cult cuts in the '60s saying they would lead to less revenue than more revenue. ronald reagan had the deepest...