This article shows exactly how those GOP tax cuts for the uber-wealthy created all of the long-term debt projections that are making the GOP cry the sky is falling. Yet they refuse to rescind those tax cuts, keep doubling down on making them permanent, want to slash additional funding for IRS agents that would substantially reduce the deficit making wealthy tax cheats pay what they owe and refuse to consider raising taxes on the wealthy who overwhelmingly benefitted from the Reagan, Bush and Trump tax cuts.

The GOP and especially their wealthy donors loathe the less wealthy and are always trying to make up for their deficit-busting, wealthy-benefiting tax cuts by cutting what little help the government provides to the poor. Egged on by Norquist cheerleading no-taxes, the GOP refuses to raise our tax rate or tax receipts leaving us one of the least taxed per capita countries in the OECD and well below European tax rate averages. So, if they cared about the deficit more than they care about fawning over the rich, nothing could be easier to fix.

Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio
https://www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/

#Socialism4MeButNotThee
#GOPHatesTheNotRich
#GOPIsTheToolOfTheRich
#GOPHypocrisy

"Long-term projections show that federal debt as a percentage of the U.S. economy is on a path to grow indefinitely, with increased noninterest spending due to demographic changes such as increasing life expectancy, declining fertility, and decreased immigration and rising health care costs permanently outstripping revenues under projections based on current law. House Republican leaders have used this fact to call for spending cuts, but it does not address the true cause of rising debt: Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues. In fact, relative to earlier projections, spending is down, not up. But revenues are down significantly more. If not for the Bush tax cuts and their extensions—as well as the Trump tax cuts—revenues would be on track to keep pace with spending indefinitely, and the debt ratio (debt as a percentage of the economy) would be declining. Instead, these tax cuts have added $10 trillion to the debt since their enactment and are responsible for 57 percent of the increase in the debt ratio since 2001, and more than 90 percent of the increase in the debt ratio if the one-time costs of bills responding to COVID-19 and the Great Recession are excluded. Eventually, the tax cuts are projected to grow to more than 100 percent of the increase.
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The nation’s fiscal pictured changed in 1981 when ...Reagan enacted the largest tax cut in U.S. history, reducing revenues by the equivalent of $19 trillion over a decade in today’s terms.
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In other words, right up until before the Bush tax cuts were made permanent, the CBO was projecting that, even with an aging population and ever-growing health care costs, revenues were nonetheless expected to keep up with program costs. However, in the next year, that was no longer the case. As a result of the massive tax cut, the CBO projected that revenues would no longer keep up due to being cut so drastically and, as a result, the debt ratio would rise indefinitely.
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Despite the rhetoric of runaway spending, projections of long-term primary spending have decreased, but projections of long-term revenues have decreased vastly more. The United States does not have a high-spending problem; it has a low-tax problem.
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Over the CBO’s 10-year budget window, the United States will collect $26 trillion less in revenues than it would if its revenue as a percentage of GDP were as high as the average OECD nation. When compared to EU nations, that number rises to $36 trillion.
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projections of long-term spending, relative to older projections, have significantly decreased and thus have been responsible for decreased, not increased, debt in the CBO’s outlook. It is tax cuts that have caused the dramatic increase in primary deficit projections.
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the current fiscal gap—the growing debt as a percentage of the economy—stems from legislation that cut taxes, disproportionately for the very rich.
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If Congress wants to decrease deficits, it should look first toward reversing tax cuts that largely benefited the wealthy, which were responsible for the United States’ current fiscal outlook."