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GOP2012: New Hampshire Republican debate, June 13, 2011
The Reality
Fact Check

Pawlenty on Tax Cuts

June 13, 2011 at 6:58 PM

PAWLENTY RHETORIC: “My proposal… cuts taxes.”

REALITY: PAWLENTY’S ECONOMIC PLAN AMOUNTS TO A HUGE TAX CUT FOR MILLIONAIRES, COSTING BILLIONS

  • Tax Policy Center: Pawlenty’s Tax Cuts Would Cost $11.6 Trillion Over The Next 10 Years Compared To Current Law. [Tax Policy Center, TPC Interpretation of Governor Tim Pawlenty's Tax Proposal Outline, Table T11-0166; [6/10/11]
  • Tax Policy Center: Pawlenty’s Tax Plan Would Cut Taxes For Millionaires By Nearly Half A Million Dollars; [Tax Policy Center, TPC Interpretation of Governor Tim Pawlenty's Tax Proposal Outline, Table T11‐0170, 6/10/11]
  • Bloomberg: “The Top 0.1 Percent Of U.S. Taxpayers Would Save An Average Of $1.4 Million In Taxes Under The Economic Plan Of Republican Presidential Candidate Tim Pawlenty;” [Bloomberg, 6/10/11]
  • Bloomberg's Al Hunt: Pawlenty's Economic Plan: “Would Cut Taxes Just Dramatically For The Wealthiest Americans;” [Bloomberg, 6/8/11 (video)]
  • Forbes’s Leonard Burman: Pawlenty’s Tax Plan Is “The Bush Tax Cuts On Steroids;” [Leonard Burman, Forbes, 6/10/11]
  • Washington Post’s Ruth Marcus: “Pawlenty Is Proposing Tax Cuts That Are The Equivalent Of Taking The Existing Bush Tax Cuts And Tripling Them Over The Next Decade” Which Is “The Very Definition Of Fiscal Insanity.” [Ruth Marcus, Washington Post, 6/10/11]

REALITY: PAWLENTY’S TAX PLAN WOULD EXPLODE THE DEFICIT

  • Star Tribune Editorial: “Pawlenty's Economic Policies Have Been Test-Driven In The Real World -- In Minnesota -- And The State Is Now Paying The Price” Which Is “An Ongoing Structural Deficit That Combined With An Economic Downturn To Culminate In The $5 Billion Deficit Crushing Minnesota Today;” [Editorial, Star Tribune, 6/8/11]
  • Center For American Progress Budget Director: Pawlenty “Says That He Will Balance The Budget, And Cap Spending At 18 Percent Of GDP” But “His Tax Plan Leaves Him About $8.4 Trillion Short;” [Center For American Progress’s Michael Linden, Think Progress, 6/7/11]
  • Manhattan Institute’s Josh Barro: “Even If We Hit” Pawlenty’s Spending Cap Of 18 Percent Of GDP, “Pawlenty’s Tax Plan Would Leave Us With An Unacceptably Large Structural Budget Gap;” [Josh Barro, City Journal, 6/9/11]
  • Washington Times: “It’s Unclear” Whether Pawlenty’s Economic Plan Is “Realistic And How Such A Dramatic Dip In Tax Revenues Would Affect The National Deficit;” [Washington Times, 6/7/11]
  • Wall Street Journal: Pawlenty Must “Show That His Plan Would Not Explode A Deficit That Is Expected To Top $1.6 Trillion, Given That Cutting Rates So Steeply Could Prompt A Fall-Off In Tax Revenues.” [Wall Street Journal, 6/7/11]
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