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VodkaPundit

Your ♡bamaCare!!! Fail of the Day

June 6th, 2014 - 12:06 pm

How much will the law cost? Will it reduce the deficit? Expand it?

Nobody knows! Nobody can know!

That’s according to the Congressional Budget Office, but anyway what do they know?

That means it’s working?

Anyway, here’s a good rule of thumb. Any law which doesn’t actually abolish a rule, regulation, agency, service, program, benefit, entitlement, requirement, mandate, department, etc, will and must eventually add to the deficit. We’ll call this VodkaPundit’s Law. If there’s an exception to VodkaPundit’s Law, I’d love to know.

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All Comments   (3)
All Comments   (3)
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There is an exception - new taxes and fees do not add to the deficit.
14 weeks ago
14 weeks ago Link To Comment
"do not necessarily add to the deficit". It's entirely possible for the cost of collection and enforcement thereof to exceed revenue gained.

(Not to mention the addition of the tax disincentivizing what's being taxed, which might cause a negative return compared to existing taxes.)
14 weeks ago
14 weeks ago Link To Comment
It's even simpler than that. Spending increases -- in every recorded instance in this country -- in excess of the taxes raised to pay for the new spending.

On average, IIRC, every $1.00 of new or increased taxes leads to $1.08 of increased spending.

So, yes, tax hikes also add to the deficit.
14 weeks ago
14 weeks ago Link To Comment
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