Vice President Mike Pence’s decision to attend an NFL game between the Indianapolis Colts and San Francisco 49ers yesterday and then leave after some 49ers players kneeled during the national anthem was quickly criticized by some as a planned piece of political theater — and a somewhat expensive one at that. “After all the scandals involving unnecessarily expensive travel by cabinet secretaries, how much taxpayer money was wasted on this stunt?” Rep. Adam Schiff (D-CA) tweeted Sunday afternoon.
The answer, CNN reports, is about $242,500: "According to the Air Force, flying a C-32, the model of plane used for Air Force 2, for one hour costs about $30,000. Pence's flight from Las Vegas to Indianapolis Saturday took about three hours and 20 minutes, so it cost about $100,000. Pence then flew from Indianapolis to Los Angeles on Sunday, which took about four hours and 45 minutes, costing about $142,500."
President Trump defended Pence’s trip, tweeting that it had been “long planned.” CNN also reports that some of the costs of Pence's flight from Indianapolis to Los Angeles will be paid back by the Republican National Committee because the vice president is attending a political event there.
“Tax revenue as a percentage of gross domestic product is expected to be 16.5 percent next year. The long-term average in a full-employment economy is 18.5 percent of GDP; if revenue were at that level for the coming decade, debt would be $3.2 trillion lower and the 10-year fiscal gap would be halved. Returning to past revenue levels, however, will be inadequate over time, because an aging population will increase Medicare and Social Security costs. This need not pose a problem: Revenue was roughly 19 percent of GDP in the late 1990s, and economic conditions were excellent.”
– Former U.S. Treasury Secretary Richard E. Rubin, writing in The Washington Post
“You … often hear the claim that a lot of tax cuts will ‘pay for themselves,’ that they’ll cause so much additional economic activity that the revenue feedback from that activity will fully offset the direct revenue loss caused by the tax cut so that you end up making money for the federal government, or at least not losing any money. Now, of course that is theoretically possible and it would happen at extreme rates. I mean if a country had a 99 percent flat rate income tax and lowered it to 98 percent, I believe that they almost certainly would collect more revenue at the 98 percent rate than they did at the 99 percent rate. But the idea that this type of effect would occur at today’s tax levels just requires responses that are much bigger than statistical evidence would support and I think much bigger than common sense would indicate if you just ask people how they themselves would react to the tax cut.”
It’s summertime and the driving is anything but easy if you want to get to your favorite beach or mountain cabin for a well-deserved break. As lawmakers consider a plan to raise federal fuel taxes by 15 cents a gallon, here’s a look at the current state-level taxes on gasoline, courtesy of the Tax Foundation:
The New York Times’ Jim Tankersley tweets: “In order to raise enough revenue to start paying down the debt, Trump would need tariffs to be ~4% of GDP. They're currently 0.2%.”
Read Tankersley’s full breakdown of why tariffs won’t come close to eliminating the deficit or paying down the national debt here.