As a self-proclaimed “deficit hawk,” Johnson is opposed to cutting individual income taxes out of concern that such cuts would increase the federal deficit. Johnson’s claim raised two questions: Would a tax cut on businesses boost the economy and increase federal revenue, and did federal revenue really increase $1.2 trillion per year? So a $1.2 trillion increase since 2009 is actually below what the CBO expected in 2009. The debt increase is primarily due to growth in federal spending outpacing growth in federal revenue. The Pinocchio TestIn his opposition to the GOP tax plan, Johnson makes increasing federal revenue sound as easy as cutting taxes to grow the economy, thereby boosting federal revenue.

Source: Washington Post November 27, 2017 07:52 UTC