The CNBC Republican Debate: Bring In the Clowns
"these candidates are selling fantasies. They reject arithmetic and confound logic. They can’t admit that a flat tax – a tax that lowers top rates – by definition gives a massive tax break to the wealthy. They can’t admit that a 10 percent or 15 percent flat tax raises trillions less in revenue. Like incoming House Speaker Paul Ryan, they can’t admit that their pledge to cut taxes, balance the budget and expand the military will require literally gutting the domestic functions of the federal government – from education to disease control.
And somehow, at a time when the rich capture ever more of the wealth, when the profit share of GDP is near record highs and the income share near record lows, they argue that cutting taxes on the rich and accountability on the corporations will magically generate growth."
