$3.5T Not As Big As You Might Think

[Lesh]

So, find out what he means by costs nothing.

Everyone knows the bill has a price tag to it....$3.5 trillion.... Including Biden, including all senators and Congress critters and every person who has remotely followed any news, right or left, knows the Bill's price tag is $3.5 trillion.

And that’s offset by savings in the bill and taxes on corporate gains and high incomes.

It adds little or nothing to the debt. Just like the ACA as demonstrated above

 

[Lesh]

Raising taxes to generate more revenue for the government, hoping it will cause them to balance the budget and pay down the debt makes as much sense as giving a hardcore gambling addict money, hoping he'll buy a plane ticket home from Vegas.

First of all, new taxes NEVER generate the projected revenue, because those who make the projections assume static behavior. The reality is, people adjust and take steps to avoid paying higher rates as much as possible. Remember the yacht tax that was supposed to really get those rich guys? All it did was destroy the American yacht business, generate no revenue, and the rich guys have as many yachts as they did before. They just bought them from a different country that didn't have the additional tax.

Second, Congress has shown itself to be totally incapable of being responsible with new revenue. Every time they get even a scent of more money, they immediately start new spending, and by the time any new money comes in, it's already allocated and new debt is piled on top of it.

Bottom line you’re bitching about taxing the rich while claiming they will find a way not to pay those taxes.

After the support you fuckers had for adding two trillion to the debt for Trump’s tax cuts, don’t EVEN claim you care about the debt. You don’t. You never have.

I’ve seen this game played out for decades

 

[Rambunctious]

You don't get it.
No business in US history has ever gone bankrupt because of taxes.
Back taxes? Plenty have.

'Made to wait on investing'?
Guess what? That's the very thing that lowers your tax obligation.
'The jobs they create'?
Why would businesses hire more people if their taxes are too high?
Never heard of that, they hire more people because...............................they have more business.

Of course, it's going to cost more, it's going to cost everyone more.
The tax obligation only goes up after you reach $400,000, the all the $$$, you make after that amount is taxed at a higher rate.
My taxes haven't decreased in 40 years, and I damned sure never had a tax bill that was $0.

So are you really arguing that small businesses should remain small forever?....that they should be satisfied with stagnate growth of their businesses?....how does that help anyone?...in fact how do higher taxes on any business or corporation help you?....

 

[Rambunctious]

Bottom line you’re bitching about taxing the rich while claiming they will find a way not to pay those taxes.

After the support you fuckers had for adding two trillion to the debt for Trump’s tax cuts, don’t EVEN claim you care about the debt. You don’t. You never have.

I’ve seen this game played out for decades

How does taxing corporations more help you?.....be specific....

 

[Lesh]

How does taxing corporations more help you?.....be specific....

It provides REVENUE...

 

[Lesh]

So are you really arguing that small businesses should remain small forever?....that they should be satisfied with stagnate growth of their businesses?....how does that help anyone?...in fact how do higher taxes on any business or corporation help you?....

No. He's not. Small businesses remain small because they think small.

My business has been around for nine years and grew every year...because we prioritize (smart-steady) growth over profit

 

[Rambunctious]

It provides REVENUE...

No it doesn't...growth brings in revenue to the treasury....tax higher and get less in return than cutting business tax....investment in jobs and equipment that creates more tax paying jobs and growth is the faster way to lower the debt....

 

[Rambunctious]

No. He's not. Small businesses remain small because they think small.

My business has been around for nine years and grew every year...because we prioritize (smart-steady) growth over profit

You must have money to invest in your business and taxing that capital away helps no one...not the owner not the employees and not the companies that said business does business with....all you will help is the federal monopoly over our lives....

 

[Care4all]

And that’s offset by savings in the bill and taxes on corporate gains and high incomes.

It adds little or nothing to the debt. Just like the ACA as demonstrated above

Yes, I agree.... But I believe Harley is claiming Joe meant that it costing zero, meant there was no money at all spent for the benefits in the bill..... Which is wrong. Costs nothing is simply a term in Congress, with the meaning... of the bill, being paid for....

 

[Lesh]

No it doesn't...growth brings in revenue to the treasury....tax higher and get less in return than cutting business tax....investment in jobs and equipment that creates more tax paying jobs and growth is the faster way to lower the debt....

Sounds reasonable huh?

Too bad it's not the actuality

Trump's tax cut did very little of that...know why? Because it went into profits, bonus', and stock buybacks.

Not jobs or growth

 

[Rambunctious]

And that’s offset by savings in the bill and taxes on corporate gains and high incomes.

It adds little or nothing to the debt. Just like the ACA as demonstrated above

You over anyone else should be on the side of businesses hiring more people so Joe's migrants can find work...what are you going to do with them when jobs dry up?....and if you raise the tax rate on business jobs will dry up....

 

[JustAGuy1]

Affordable Care Act Still Reduces Deficits, Despite Tax Repeals | Center on Budget and Policy Priorities

The Affordable Care Act (ACA) remains likely to reduce federal budget deficits substantially in coming years, despite December’s repeal of three ACA taxes. Repealing the excise tax on high-cost...

www.cbpp.org

Turns out that "scary" one TRILLION dollar ACA "cost" ended up LOWERING the deficit.

NEVER believe Republicans abut financial matters.

All they ever care about is tax cuts for the rich. That's it. That's their entire agenda. Everything else is bullshit with THAT as the goal

Of particular note, the use of words like "likely" and "may"

The Affordable Care Act (ACA) remains likely to reduce federal budget deficits substantially in coming years, despite December’s repeal of three ACA taxes. Repealing the excise tax on high-cost health plans (the “Cadillac tax”), the fee on health insurance providers (the “health insurance tax”), and the medical device excise tax will sacrifice hundreds of billions in revenues and marks a significant step backwards in health and fiscal policy, as we’ve written. But the ACA’s remaining spending reductions and tax increases will more than offset the cost of its coverage expansions.

 

[Lesh]

You must have money to invest in your business and taxing that capital away helps no one.

Taxes or lack of taxes do NOT provide capital (in any meaningful way).

Capital comes from loans. You ever own a business?

 

[Lesh]

You over anyone else should be on the side of businesses hiring more people so Joe's migrants can find work...what are you going to do with them when jobs dry up?....and if you raise the tax rate on business jobs will dry up....

Except that never happens

 

[Rambunctious]

Sounds reasonable huh?

Too bad it's not the actuality

Trump's tax cut did very little of that...know why? Because it went into profits, bonus', and stock buybacks.

Not jobs or growth

Trump brought more jobs to the states than any other president in modern history and he didn't do it by raising taxes...he did it with targeted tax cuts for investment and growth....wake up you lived through it and you still haven't learned....

 

[Rambunctious]

Taxes or lack of taxes do NOT provide capital (in any meaningful way).

Capital comes from loans. You ever own a business?

That's crazy...have you ever owned a business?...taxes are a hinderance to growing your business....so are fees and regulations...

 

[Lesh]

Of particular note, the use of words like "likely" and "may"

The Affordable Care Act (ACA) remains likely to reduce federal budget deficits substantially in coming years, despite December’s repeal of three ACA taxes. Repealing the excise tax on high-cost health plans (the “Cadillac tax”), the fee on health insurance providers (the “health insurance tax”), and the medical device excise tax will sacrifice hundreds of billions in revenues and marks a significant step backwards in health and fiscal policy, as we’ve written. But the ACA’s remaining spending reductions and tax increases will more than offset the cost of its coverage expansions.

Hey dipshit...you missed the most important word

REMAINS. That means that it HAS reduced Federal deficits for the last ten years.

Just as I said

And that is the direct opposite of what people like you were saying when it passed.

You were wrong about that and you're wrong about this

 

[Ordinary Guy]

Sure you did, looking at your post 219, I know you're lying.

Everyone pays at least $10,000 in mortgage interest annually, if not more.
Unless, you have a mortgage that is $800 a month or less, which I doubt.

At least the first 3-5 years of every mortgage is interest, people pay nothing on the principle.

I don't have a mortgage now, but when I did it was at 2% interest rate, unlike stupid fucks in much of this country we never buy a house without a large down payment. No down payment is why many of your ignorant ilk pay more than 10,000. Of course if they live in IL, NY, CA, WA, or OR, they have to deal with inflated costs from their state officials. Post 219 was about federal income tax moron

 

[Rambunctious]

Except that never happens

Go back to 2010 when Obama's tax hikes kicked in and see how slow jobs were being created and how high the jobless rate was...we struggled for 8 years under a recession that could have ended in 2 years with the right tax policy....

 

[Thinker101]

Except that never happens

You're talking out your rear....again.

How Connecticut’s “Tax On The Rich” Ended: Middle-Class Tax Hikes, Lost Jobs, More Poverty – Investment Watch