Tax cuts as path to revenue growth? A 'fairy tale,' says Senator Schumer.
It is time to debunk the Republican myth that tax cuts will lead to growth in government revenues, says Sen. Charles Schumer, vice chairman of the Democratic Conference.
Sen. Charles Schumer, vice chairman of the Democratic Conference and chairman of the Senate Democratic Policy and Communications Center, speaks at the Monitor breakfast for reporters on Nov. 8, 2012, in Washington. Budget issues and, perhaps, immigration reform are agenda items for Congress, he said.
Michael Bonfigli/The Christian Science Monitor
Washington
Sen. Charles Schumer (D) of New York is vice chairman of the Democratic Conference and heads the Senate Democratic Policy & Communications Center. He spoke at the Nov. 8 Monitor breakfast in Washington.
His response to House Speaker John Boehner's Nov. 7 statement that he could accept a budget deal with new revenue:
"I was heartened, very heartened, by the tone that Speaker Boehner showed.... It makes me very hopeful that we can do something big in the next month and a half [about the nation's fiscal problems]."
Mr. Boehner's view that government revenues would grow if tax rates are cut:
"It is about time we debunked that myth. It is a Rumpelstiltskin fairy tale.... Rumpelstiltskin ... turned straw into gold."
The outlook for immigration reform:
"The election gave great momentum to immigration reform, because it showed Republicans they cannot succeed if they continue with such a harsh position."
The impact of Karl Rove's super political-action committee's failure to elect Mitt Romney or 10 of 12 Senate candidates it backed:
"Karl Rove's reputation is going to take a significant hit. If [his PAC] were a business, and Rove was the CEO, he would be fired for getting a poor return for his investors."
The tea party's role:
"Those tea party candidates who won, many of them ran away from the tea party platform.... They are a little bit chastened, the ones who've come back."