We must undo the voodoo!
Republicans know that trickle-down economics is no longer an easy sell, so they've wrapped up those bad policies in a new package.
This week, the Republican-controlled House of Representatives passed a rule that requires more macroeconomic scoring on all major fiscal legislation through a process called “Dynamic Scoring.” Now, that may sound innocent enough, but, that's only until you consider that this whole practice centers on the failed economic policies of Ronald Reagan.
According to this new rule change, any significant changes to the budget or tax policy must be scored based on how they effect our economy and government revenue. However, those scores will be generated using the long-debunked premise that lowering taxes somehow increases government revenue.
Even though we have thirty-plus years of evidence that clearly disproves this nonsensical economic policy, Republicans decided to use it as the basis for every decision concerning our tax policy. As former Labor Secretary Robert Reich explained recently, “Dynamic scoring would make it easier to enact tax cuts for the wealthy and corporations, because the tax cuts wouldn't look as if they increased the budget deficit...”
It doesn't take an economic expert to understand that tax cuts lower government revenue. And, it doesn't take a historian to remember what happened after George W. Bush slashed rates for those at the top. Tax cuts for the rich don't stimulate our economy, and this flawed logic shouldn't be used to make economic decisions.
As Senator Bernie Sanders said, “In these difficult times, we need realistic economic projections, not discredited theories, not voodoo economics.” Call your Representatives today and tell them to reverse the dynamic scoring rule change.