Note to WaPo: Perry’s Plan Will Increase the Deficit

October 26th, 2011 at 8:53 am

Wow.  Dean Baker is rightly incensed.

This article in this AM’s WaPo reviews the R candidates’ tax plans, and leaves the impression that the fiscal impact of Perry’s plan will be “difficult for analysts to accurately predict.”  The word “deficit” doesn’t even show up in the piece.

Perry’s tax plan lets you calculate your taxes two ways and pay the lowest amount.  As he said in an interview last night with Larry Kudlow, everyone’s taxes will go down.  (More accurately, they’ll either stay where they are or go down; see here).

That means we collect less revenue and the deficit goes up.  Sure, you can tell stories about massive spending cuts and dynamic growth effects, but the newspaper should report the first-order, simple arithmetic truth here.

As I said earlier, if we fail to get even the simplest information like this correct, we’ll never be able to make informed choices.

 

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6 comments in reply to "Note to WaPo: Perry’s Plan Will Increase the Deficit"

  1. Charles E Lewis Jr says:

    There is column in today’s NY Times of note about the role of consumer spending in growing the economy titled, “It’s Consumer Spending, Stupid!” that debunks any notion of trickle down economics. I detect a reluctance on your part to promote policies of redistribution like those suggested by Robert Reich–a tier of higher marginal rates at the top and low taxes at the bottom and middle. How else can demand be increased in the economy? Educational enhancements won’t do it in the short term.


  2. Neil Gillies says:

    “As I said earlier, if we fail to get even the simplest information like this correct, we’ll never be able to make informed choices.”

    What do you mean “we”, white man? You get it just fine. Most informed, honest bloggers get it. The problem is with the mainstream media (not even considering the right wing media) failing to do its job, full stop. Greg Sargent had this post this morning: “* Breaking: News org compares the Obama and GOP jobs plans: The Los Angeles Times’ Michael Hiltzik does what must not be done in polite company: He compares the two plans to see if they actually — get this — create jobs! His conclusion: The Senate GOP jobs plan is “all smoke” and will do little more than protect corporate profits.

    What’s striking is how rare this kind of analysis is, given that so many news orgs widely and credulously blared the news that the Senate GOP had offered a “jobs plan.””

    Linking to this story: http://www.latimes.com/business/la-fi-hiltzik-20111025,0,1522324,print.column


  3. Michael says:

    How can anyone be incensed by anything printed in the WaPo? It’s a conservative organ.


    • Procopius Furioso says:

      You said it shorter and clearer than I was going to. WaPo turned to the dark side long ago, and in recent years have exposed themselves as pure prostitutes — and failing ones at that. The only part of their conglomerate that is still making money is based on deception and fraud (Kaplan).


  4. the buckaroo says:

    …squirrel! Why is there a rush toward tax reform? What’s all this talk about the deficit? Will the rich defend themselves against the aggrandizement the conservative brotherhood wishes to bestow upon their barren doorstep? Can the working poor afford or dare to speak up?

    Seems the weapons of mass distraction are in full assault mode. Oh, that’s right…this way we don’t have to face the job question…what about the unemployed…where are the jobs? Perry’s plan is a jobs killer…all those accessories to the tax code journey…accountants & attorneys & other shelter providers will be looking for alternative means of support. Cain’s in it to raise his speaking fees…snake oil shilling at its best. How much does a run at the top spot increase the fee…just wondering?

    Difference these days in tactics is the modern New Deal repeal crowd harken to the days of the Founding Fathers. The mid ’30s obstructionists, Republicans, reached to the Pilgrims & Plains pioneers for solace, skipping over the revolutionary period…curious. As I recall, the ’36 campaign blanketed the country with sunflowers & sullied the air with the battle cry of the Oregon Trail…Oh, Susanna! Squirrel!


  5. Fred Donaldson says:

    The Republicans want to increase the deficit and use that number as an excuse to cut programs for the public, and raise short term money by privatizing everything in short sight.

    This is the same lousy method used in corporations today to show a profit in the short term, while destroying the instution over the near future.


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