By the time you finish reading this sentence, the federal government will have spent almost $500,000 of taxpayer money.
Republicans are the party of limited government, which is why it's not surprising that more than half of their presidential candidates have released specific plans to cut taxes. But there's more to limited government than the amount of money government takes from its people. It's necessary to ask candidates, "Where are your spending cuts?"
None of the Republican candidates would argue that a higher federal debt is a good thing. Yet, without addressing the spending side of the federal budget, tax cuts ultimately mean more debt. Even after accounting for economic growth spurred by lower taxes, every GOP candidate's tax plan that's currently available would raise the federal budget deficit, except for Rand Paul's, according to the Tax Foundation.
Donald Trump's tax plan would raise the budget deficit by $10 trillion over ten years. Bobby Jindal's would increase the deficit by $9 trillion. Marco Rubio's plan would increase GDP growth by 15 percent over 10 years, but still raise the budget deficit by $2.4 trillion over the same timeframe. Jeb Bush's plan would have a $1.6 trillion deficit increase, Rick Santorum's would have a $1 trillion increase, and Ted Cruz's would have a meager $768 billion increase. Paul's plan would cut taxes by $1.8 trillion over 10 years, but the economic growth would lead to a $737 billion deficit reduction.Read more on WashingtonExaminer.com