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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (205058)	12/22/2017 5:21:21 PM
From: Kenneth E. Phillipps	2 Recommendations Recommended By Oblivious TideGlider Read Replies (3) \| Respond to of 224717

This is not even close to the largest tax cut. In real terms (% of GDP) it is less than 1% - way behind tax cuts of Reagan, Bush, and Obama.

To: tonto who wrote (205058)	12/22/2017 5:24:04 PM
From: Kenneth E. Phillipps	Respond to of 224717

The current bill is projected to cut federal tax revenue by roughly 1 percent of the GDP per year overall -- the 18th largest tax cut enacted since 1918 as a percentage of the GDP, according to the Committee for a Responsible Federal Budget, an independent bipartisan public policy organization. In inflation-adjusted dollars, the legislation’s estimated $1.5 trillion price tag is the fourth largest in recent history. The tax cut signed into law by President Ronald Reagan in 1981 was the largest since 1918 -- reducing federal revenues by 2.9 percent of GDP, according to the Treasury Department. abcnews.go.com