|
Post by olmucky on Aug 26, 2024 12:01:14 GMT -5
👍
|
|
|
Post by johngalt on Aug 26, 2024 16:14:55 GMT -5
I forgot to mention the other problem with just looking at what individual tax revenue was. How much was the revenue increase compared to previous years? With an economy already growing at 2.28% average per year for the previous 4 years, how much would those same tax returns be generated without a tax cut? GDP was 2.71% in 2015 and 2.24% in 2017 before the tax cuts, building on the recovery since the Great Recession. GDP did increase to 2.95% in 2018, but it fell back to 2.24% in 2019 close to the normal growth rate. So unless you take the normal 2.28% for the four years before Trump and increased revenue based on old tax rates and that GDP growth, you can not determine if the Trump tax cuts led to a revenue increase or decrease. The statisticians who argue the tax cuts decreased revenue argue we would have had more revenue growth and less deficit spending had Trump not cut taxes based on the average GDP growth before the tax cuts and the average GDP growth after the tax cuts. That’s a lot of mumbo jumbo just to admit that the more money kept out of the hands of government benefits the economy.
|
|
|
Post by cadman on Aug 26, 2024 16:52:44 GMT -5
I forgot to mention the other problem with just looking at what individual tax revenue was. How much was the revenue increase compared to previous years? With an economy already growing at 2.28% average per year for the previous 4 years, how much would those same tax returns be generated without a tax cut? GDP was 2.71% in 2015 and 2.24% in 2017 before the tax cuts, building on the recovery since the Great Recession. GDP did increase to 2.95% in 2018, but it fell back to 2.24% in 2019 close to the normal growth rate. So unless you take the normal 2.28% for the four years before Trump and increased revenue based on old tax rates and that GDP growth, you can not determine if the Trump tax cuts led to a revenue increase or decrease. The statisticians who argue the tax cuts decreased revenue argue we would have had more revenue growth and less deficit spending had Trump not cut taxes based on the average GDP growth before the tax cuts and the average GDP growth after the tax cuts. That’s a lot of mumbo jumbo just to admit that the more money kept out of the hands of government benefits the economy. Actually, the government got more money under either scenario.
|
|
|
Post by olmucky on Aug 26, 2024 16:53:16 GMT -5
More democrat hocus pocus When are people going to wake up The Dems lie about everything and get away with it because they OWN mainstream media Goodness, now they are pushing Karmala like she is the “second coming” and folks are gobbling up the lies Remember her stances as they are the real Harris: No fracking Defund the Police Hire extra IRS agents to go after people receiving tips Put marijuana users in prison No cash bail for violent criminals Open borders And the list of socialist policies goes on and on “Come on man” You’re not stupid enough to buy this load of crap Are you? You left off republicans are taking away/cutting Medicare and ss
|
|
|
Post by throttle on Aug 27, 2024 7:32:52 GMT -5
Tax cuts cause inflation?😂😂 Spoken like a true government employee. If that’s the case a 100 percent tax rate would be utopia. 👍 Without offsetting spending cuts, tax cuts can cause inflation by putting more money into the system. it will also increase the debt and deficit spending. Trump cut taxes and increased spending. Tax cuts don't "put money in the system", they leave it in the system where it belongs rather than letting government squander it.
|
|
|
Post by throttle on Aug 27, 2024 7:34:14 GMT -5
Printing money causes inflation. Cutting taxes without cutting spending causes "printing money".
And so does every spending increase. It's the spending that needs controlled.
|
|
|
Post by nuevowavo on Aug 27, 2024 12:47:06 GMT -5
Cutting taxes without cutting spending causes "printing money".
And so does every spending increase. It's the spending that needs controlled.
Ever see a p&l statement? There are always two categories: income and expenditure. Same goes for the Federal budget.
I do agree that spending is out of control. And our primary spending problem is on SS and Medicare. If you're not going to cut the military budget, everything else is diddly.
But we can't cut our income, either.
|
|
|
Post by ferris1248 on Aug 27, 2024 12:55:40 GMT -5
And so does every spending increase. It's the spending that needs controlled.
Ever see a p&l statement? There are always two categories: income and expenditure. Same goes for the Federal budget.
I do agree that spending is out of control. And our primary spending problem is on SS and Medicare. If you're not going to cut the military budget, everything else is diddly.
But we can't cut our income, either.
Sometimes I wonder if some people even know what P&L is much less understand a Balance Sheet.
|
|
|
Post by nuevowavo on Aug 27, 2024 12:58:42 GMT -5
So many people say they would like to see government run like a business. Just please not Donald's business...
|
|
|
Post by whitebacon on Aug 27, 2024 13:38:16 GMT -5
And so does every spending increase. It's the spending that needs controlled.
Ever see a p&l statement? There are always two categories: income and expenditure. Same goes for the Federal budget.
I do agree that spending is out of control. And our primary spending problem is on SS and Medicare. If you're not going to cut the military budget, everything else is diddly.
But we can't cut our income, either.
What??? Interest on the debt will exceed every other item in the budget in short order. With basically close to zero interest on the current debt, and the debtor instruments, what are the interest payments alone? How about getting rid of 5 or 6 bodies of waste, like the dept. of bullshit education? How about cutting every budget in Wash. by 10%? And repeat it every year for five years. The 800,000 phantom jobs report, revised, showed the federal government was THE ONLY sector that ADDED jobs YTD. Does it really take 2 million employees to run the government? TWO million plus?!?!?! How about government invest the SS trust funds? Oh my bad, they've already spent that money too, and issued IOU's to themselves. I could fix the problem with deficit spending in 10 minutes. I'd start by telling the chicoms to eat shit, and use the trillion in treasuries they hold, to wipe their ass with it.
|
|
|
Post by cadman on Aug 27, 2024 14:19:29 GMT -5
The Social Security trust fund is invested and has not been spent. The problem with Social Security is that there are too many baby boomers retiring and not enough people in the workforce.
|
|
|
Post by nuevowavo on Aug 27, 2024 15:33:14 GMT -5
|
|
|
Post by johngalt on Aug 27, 2024 18:27:21 GMT -5
So many people say they would like to see government run like a business. Just please not Donald's business... No, the government should not be ran like a private business. It should be ran like the Constitution says.
|
|
|
Post by johngalt on Aug 27, 2024 18:28:49 GMT -5
That’s old. Last month interest on the debt exceeded defense spending.
|
|
|
Post by Tarponator on Aug 27, 2024 18:29:49 GMT -5
So many people say they would like to see government run like a business. Just please not Donald's business... No, the government should not be ran like a private business. It should be ran like the Constitution says. Do you think the Constitution confuses the words "ran" and "run"?
|
|