The trump tweet that may best offer his view of the world...

[McDad]

A reduction in tax revenues will required more borrowing.

"And Trump’s policies to date—a combination of deep tax cuts and sharp spending increases—are shortening the fuse on that fiscal time bomb, by dramatically widening the already unsustainable gap between revenues and outlays. On our current course, we’re headed for a morass of punitive taxes, puny growth, and stagnant incomes for workers—a future that’s the precise opposite of what Trump champions.

By 2028, America’s government debt burden could explode from this year’s $15.5 trillion to a staggering $33 trillion—more than 20% bigger than it would have been had Trump’s agenda not passed. At that point, interest payments would absorb more than $1 in $5 of federal revenue, crippling the government’s capacity to bolster the economy, and constraining the private sector too."

How Debt Could Blow Up the Trump Economy

"The federal budget deficit will exceed $1 trillion annually beginning in FY 2020 — two years earlier than previously projected — and federal debt held by the public will approach 100% of GDP by 2028, according to the Congressional Budget Office (CBO) Budget and Economic Outlook released on April 9, 2018.

CBO projected an FY 2018 deficit of $804 billion — $242 billion larger than it last projected in June 2017 and $139 billion more than the actual deficit for FY 2017 — and a cumulative deficit for the 2018–2027 period of $11.7 trillion, $1.6 trillion larger than the $10.1 trillion previously projected.

The increase in projected deficits stems primarily from tax and spending legislation enacted since June 2017 that significantly reduced revenues and increased outlays: the Tax Cuts and Jobs Act (TCJA); the Bipartisan Budget Act of 2018 that increased the caps on discretionary funding in 2018 and 2019 and provided substantial funding for emergency disaster assistance; and the Consolidated Appropriations Act, 2018 that provided appropriations for 2018. The release of this year's CBO report was delayed to incorporate the effects of those laws."

CBO forecasts higher deficits, debt due to TCJA and spending bills [2018-0763]

Higher tax rates = higher tax revenues?

Higher revenues mean less borrowing?

You sure you aren't a socialist?

 

[lawgator1]

Higher tax rates = higher tax revenues?

Higher revenues mean less borrowing?

You sure you aren't a socialist?

The problem is that ALL reform in this area, by BOTH parties, is designed to help corporate benefactors make more and pay less in tax. No matter what EITHER side tells you, their plan is designed to help business bottom lines, not tax coffers.

 

[General Jack]

You could have just said the Robert Byrd rule. By making the individual rates expire they could pass the bill without fear of a filibuster.

However tehy are now trying to make the individual rate permanent, wonder how many Dems will support that?

We're just kicking the can on the national debt, as we've been doing for years. Trump is no different.

Now, if he sustains 4% GDP growth then we may be on to something... but its very unlikely to happen.

 

[McDad]

The problem is that ALL reform in this area, by BOTH parties, is designed to help corporate benefactors make more and pay less in tax. No matter what EITHER side tells you, their plan is designed to help business bottom lines, not tax coffers.

That sure doesnt stop us complaining does it.

 

[McDad]

We're just kicking the can on the national debt, as we've been doing for years. Trump is no different.

Now, if he sustains 4% GDP growth then we may be on to something... but its very unlikely to happen.

Been kicking for 5 decades. Only Clinton/Gingrich lowered spending for 2 yrs (I think). I hope someone reigns it in but im.not hopeful.

 

[General Jack]

Higher tax rates = higher tax revenues?

Higher revenues mean less borrowing?

You sure you aren't a socialist?

Simplistically with everything held equal, of course. Rate x volume.

No, I haven't become a socialist since you asked last hour.

 

[McDad]

Simplistically with everything held equal, of course. Rate x volume.

No, I haven't become a socialist since you asked last hour.

I can show you a table from the government showing that revenues are not correlated with rates as much as they are GDP. Would you be interested in that?

 

[General Jack]

I can show you a table from the government showing that revenues are not correlated with rates as much as they are GDP. Would you be interested in that?

Sure, I acknowledged my statement was simplistic and keeping everything equal. GDP is the volume side.

 

[hog88]

We're just kicking the can on the national debt, as we've been doing for years. Trump is no different.

Now, if he sustains 4% GDP growth then we may be on to something... but its very unlikely to happen.

I don't think you've ever seen me argue otherwise. But the tax cut and the deficit/debt are different subjects since revenue generally goes up when taxes are cut.

 

[McDad]

Sure, I acknowledged my statement was simplistic and keeping everything equal. GDP is the volume side.

I'll get you a link in just a bit.

Would you like to pay more in federal taxes?

 

[McDad]

Sure, I acknowledged my statement was simplistic and keeping everything equal. GDP is the volume side.

On this spreadsheet you can see everything as a percentage of GDP. Since 1944 there has been many changes to tax rates and taxation. You can see how little those changes effect the amount we pay and the the total receipts (both compared to GDP).

So, if tax rates have little effect on what we pay and what the Fed takes in, why do we all fall for the class envy rhetoric from the District of Corruption?
Statistics

 

[Squints]

This thread was a total waste of forum space to begin with. The OP could’ve at least meandered through other threads, or conveniently placed it in a more appropriate place, its namesake, Anti-Trump Hysteria and Silliness.

Since it’s here, can our resident socialists correlate tax revenue with decreased spending and paying down the debt? TIA.

 

[BigOrangeTrain]

This thread was a total waste of forum space to begin with. The OP could’ve at least meandered through other threads, or conveniently placed it in a more appropriate place, it’s namesake, Anti-Trump Hysteria and Silliness.

Since it’s here, can our resident socialists correlate tax revenue with decreased spending and paying down the debt? TIA.

Trump lives rent free in the snowflakes minds. One of the biggest problems with libtards is they are much more concerned with how a president speaks and looks on the world stage as opposed to his actions

 

[BowlBrother85]

Trump lives rent free in the snowflakes minds. One of the biggest problems with libtards is they are much more concerned with how a president speaks and looks on the world stage as opposed to his actions

That's a hollow narrative. There is a great deal of discussion in this very thread about the impact the Trump policy of protectionism is going to have on this economy as well as his reckless spending. Tariffs are indeed, actions with consequences, so is out of control spending.

 

[BigOrangeTrain]

That's a hollow narrative. There is a great deal of discussion in this very thread about the impact the Trump's policy of protectionism is going to have on this economy. Tariffs are indeed, actions with consequences.

Its all speculation and heresay. People can predict what they think will happen all day long. Doesnt mean it will. Could it? Of course. You can spin it however you like but the fact is libs like you and the others stammer on and on about what Trump tweets and how you believe the world views him. Protectionism? Lol. God forbid a president actually puts his own country ahead of the international stage.

There will always be consequences to any action a president takes. We have been fine up until this point and we will be fine after Trump. Its just more silliness from your side because you hate Trump.

 

[lawgator1]

Trump lives rent free in the snowflakes minds. One of the biggest problems with libtards is they are much more concerned with how a president speaks and looks on the world stage as opposed to his actions

Yes, it was nice to see you on here bashing the Obama attackers about bowing and such. You know, because you are all about substance not appearance.

 

[General Jack]

On this spreadsheet you can see everything as a percentage of GDP. Since 1944 there has been many changes to tax rates and taxation. You can see how little those changes effect the amount we pay and the the total receipts (both compared to GDP).

So, if tax rates have little effect on what we pay and what the Fed takes in, why do we all fall for the class envy rhetoric from the District of Corruption?
Statistics

Thanks I’ll check it out.

 

[General Jack]

This thread was a total waste of forum space to begin with. The OP could’ve at least meandered through other threads, or conveniently placed it in a more appropriate place, it’s namesake, Anti-Trump Hysteria and Silliness.

Since it’s here, can our resident socialists correlate tax revenue with decreased spending and paying down the debt? TIA.

We’ve certainly gotten off track, and thanks for your contributions to my thread, it means a lot.

Back on point, trump is a self serving jackass who hired a known idiot and scoundrel - and admitted that he would have still kept her around because she said nice things about him.

 

[BowlBrother85]

We’ve certainly gotten off track, and thanks for your contributions to my thread, it means a lot.

Back on point, trump is a self serving jackass who hired a known idiot and scoundrel - and admitted that he would have still kept her around because she said nice things about him.

That is a nice synopsis.

 

[Obsessed]

We’ve certainly gotten off track, and thanks for your contributions to my thread, it means a lot.

Back on point, trump is a self serving jackass who hired a known idiot and scoundrel - and admitted that he would have still kept her around because she said nice things about him.

Liberal hack...

 

[Septic]

Yes, it was nice to see you on here bashing the Obama attackers about bowing and such. You know, because you are all about substance not appearance.

Mike drop.

Get recked BOT.

 

[Septic]

Gotcha, so you got nothing or nobody.

You guys somehow got a b list reality TV star elected, what makes you think the other side can't manage something similar?

How about Kathy Griffin, she's the lefts version of Donny. She's almost certainly got a higher IQ.

 

[VFFL@THE BEACH]

First of all stud, you have no idea about my tax situation. I am going to get a healthy cut. Mr Trump's policy will save me a TON of money.

Second. You are a typical thieving liberal. You equate the spending problem with the revenue one and believe that the second will fix the fix the first just as long as you can force those "rich folks to pay just a little bit more". That's exactly what your hero proposed. And instead of fixing the first when he held both houses, he doubled down. Leadership. It sank during his reign of terror.

Third. Charts like that are worthless, because liberals spun the data to make The Food Stamp President look much better than he was. Too many people quit looking because slinging fries wouldn't pay the rent. But you know all this. muh Trump

Fourth. Did Zero even take a chance with KJU? I thought not. Kept ignoring him while he continued to build his technology instead of airing it out for the world to see. But at least he flew an airplane with bundles of cash in the middle of the night to the biggest state that sponsors terrorism on the planet. Oh that's right. It was their money to begin with so that was the right thing to do. Give money back to terrorists, but take more from honest working Americans.

You libs are such morons.

Your post was somewhat understandable until your last line. True, drumpf fashion, if you don't agree then you must be against and a "moron."

Before you can take the high road, you gotta take your feet out of the swamp.

 

[General Jack]

Liberal hack...

Keep saying that if it makes you feel better but it’s not true.

I’m not a member of the 33%, I wasn’t hypnotized by a demagogue reality TV star with multiple failed marriages, infidelity, a litany of failed business.

My favs were trump steaks and trump U. How about you?

 

[Mick]

Mike drop.

Get recked BOT.

Bot and his big buddy Airhead in every thread.