$8 Trillion Of Debt Was Not Big Enough For Trump

[jotathought]

Trump was doubling the deficit and adding trillions to the debt long before Covid.

Were you deaf, dumb, and blind all that time?

Of course you were. Because you are a partisan hack.

Doubling the debt? huh? Do you understand the difference between the national debt and a budget deficit or surplus?

 

[Nostra]

That MFer spent our tax dollars like a drunken sailor and
threw our money around like he had no clue what it was...

Your Vegetable Messiah has spent trillions more than Trump, Moron.

 

[g5000]

Doubling the debt? huh? Do you understand the difference between the national debt and a budget deficit or surplus?

Um...retard? Read my post again.

 

[80zephyr]

When Social Security was enacted, the majority of blue collar workers didn't live to 65.

The average life expectancy was 60. Social Security was for those who beat the odds.

And I'm sorry, but the stress of blue collar work is NOTHING like it was for our ancestors a hundred years ago.

The 65 year old of today is in far better condition than a 65 year old a century ago.

Well, if you can't work, I guess its Ok to go broke.

 

[80zephyr]

When

When Social Security was enacted, just 5.7% of the US population was over 65.

When Medicare was enacted, 9% of our population was over 65.

Today, 16% of our population is over 65.

By 2054, 23% of the population will be over 65.

Sheer mathematics makes the 65 eligibility age unsustainable.

The program was set up with an ever expanding population in mind. That it isn't working out that way is not the fault of the folks that have paid in their entire working careers.

 

[Procrustes Stretched]

Would you have rather had Americans suffer as states began closing down their economies during the over-exaggerated pandemic?

Did that happen?

Go back to the Land of OZ and take the Cowardly Lion Trump with you

 

[Procrustes Stretched]

The program was set up with an ever expanding population in mind. That it isn't working out that way is not the fault of the folks that have paid in their entire working careers.

It was a safety net, not a retirement plan.

but things change as do people

 

[westwall]

"We're effectively run in this country via the Democrats, via our corporate oligarchs, by a bunch of childless cat ladies who are miserable at their own lives and the choices that they've made." - JD Vance


Poor Flip Flopper JD. He's going to have to wash down his self respect with some racist Diet Mountain Dew again. His boss is kowtowing to the corporate oligarchs by promising them a big tax cut.

Since Trump has no idea how to cut spending, this decrease in revenues will add more to our debt, of course.

But wait, there's more!

Trump is also promising our country's geezers he will end taxes on Social Security income!

More debt!

This is blatant vote buying. Geezers are the largest Trump voting bloc. The average age of Fox News viewership is 128 years old.

I happen to know the guy running Trump's failing Truth Social platform is Deven Nunes. Nunes was a Congressman and one of Trump's biggest lickspittles in the House. He would run to Trump and spill confidential information about the House investigation into Russian interference in the 2016 election. For this, Trump gave Nunes the Presidential Medal of Freedom as Trump was on his way out of the White House. And then he hired Nunes to run his social media company.

But there is something Nunes said years ago which backs up everything I have ever said about tax expenditures. The man nailed it.

You should read this as many times as it takes to get it:


No tax reform without border adjustment tax, Rep. Nunes says

"If people wanted to drop the corporate rate from 35 to say 33, 32, maybe 30, we could probably do it. But if you go back to several years that we looked at doing just that, the goal was to get to 25 percent, and by the time every lobbyist, every special interest group in town, representing every major corporation in this country, the tax rate was automatically all the way back above 30 by the time you put everybody's special loophole in."


Trump lowered the corporate tax rate to 21 percent WITHOUT taking out "everybody's special loophole".

And now he wants to exacerbate the problem even more with a 15 percent corporate tax rate.

Now, before some idiot completely misunderstands me, I am 100 percent for lowering taxes, but ONLY if we also eliminate the tax expenditures which have made them so high to begin with.

Every deduction, credit, and exemption has to be offset by higher tax rates. They are theft. So if you want to lower tax rates, you have to get rid of the deductions, credits, and exemptions which drove them higher.

Nunes got it. Trump doesn't. Because he's an idiot and he doesn't care about saddling future generations with even more unsustainable debt, just to please JD's corporate oligarchs.

Trump pushes for lowering corporate tax rate to 15%​

​

Trump Calls For Eliminating The Income Tax On Social Security Payments​

​

Geee guano. You seem to be leaving an awful lot of facts out of your screeching.

 

[Fort Fun Indiana]

"We're effectively run in this country via the Democrats, via our corporate oligarchs, by a bunch of childless cat ladies who are miserable at their own lives and the choices that they've made." - JD Vance


Poor Flip Flopper JD. He's going to have to wash down his self respect with some racist Diet Mountain Dew again. His boss is kowtowing to the corporate oligarchs by promising them a big tax cut.

Since Trump has no idea how to cut spending, this decrease in revenues will add more to our debt, of course.

But wait, there's more!

Trump is also promising our country's geezers he will end taxes on Social Security income!

More debt!

This is blatant vote buying. Geezers are the largest Trump voting bloc. The average age of Fox News viewership is 128 years old.

I happen to know the guy running Trump's failing Truth Social platform is Deven Nunes. Nunes was a Congressman and one of Trump's biggest lickspittles in the House. He would run to Trump and spill confidential information about the House investigation into Russian interference in the 2016 election. For this, Trump gave Nunes the Presidential Medal of Freedom as Trump was on his way out of the White House. And then he hired Nunes to run his social media company.

But there is something Nunes said years ago which backs up everything I have ever said about tax expenditures. The man nailed it.

You should read this as many times as it takes to get it:


No tax reform without border adjustment tax, Rep. Nunes says

"If people wanted to drop the corporate rate from 35 to say 33, 32, maybe 30, we could probably do it. But if you go back to several years that we looked at doing just that, the goal was to get to 25 percent, and by the time every lobbyist, every special interest group in town, representing every major corporation in this country, the tax rate was automatically all the way back above 30 by the time you put everybody's special loophole in."


Trump lowered the corporate tax rate to 21 percent WITHOUT taking out "everybody's special loophole".

And now he wants to exacerbate the problem even more with a 15 percent corporate tax rate.

Now, before some idiot completely misunderstands me, I am 100 percent for lowering taxes, but ONLY if we also eliminate the tax expenditures which have made them so high to begin with.

Every deduction, credit, and exemption has to be offset by higher tax rates. They are theft. So if you want to lower tax rates, you have to get rid of the deductions, credits, and exemptions which drove them higher.

Nunes got it. Trump doesn't. Because he's an idiot and he doesn't care about saddling future generations with even more unsustainable debt, just to please JD's corporate oligarchs.

Trump pushes for lowering corporate tax rate to 15%​

​

Trump Calls For Eliminating The Income Tax On Social Security Payments​

​

Of course the doesn't care. He is where he is so Trump can get the praise and money of the bitcoin oligarch class, and they hope to use Trump to their ends.

Vance talks about oligarchs, when his entire career has been to be a shoe shine boy for an oligarch.

But if he pretends to hate the right people...

 

[80zephyr]

Trump was doubling the deficit and adding trillions to the debt long before Covid.

Were you deaf, dumb, and blind all that time?

Of course you were. Because you are a partisan hack.

Are the numbers in post #34 accurate?

 

[IDIOCRACY]

Trump was doubling the deficit and adding trillions to the debt long before Covid.

Were you deaf, dumb, and blind all that time?

Of course you were. Because you are a partisan hack.

That's one of your repeated lies, despite having been corrected many times. An example why you were included in a poll as one of the board's most dishonest posters.

 

[80zephyr]

It was a safety net, not a retirement plan.

but things change as do people

A safety net that doesn't provide safety is worthless.

 

[g5000]

Are the numbers in post #34 accurate?

See post 32 and 36.

 

[Procrustes Stretched]

I'm sorry there, prostate stretched, Congress is in charge of the purse, whether you like it or not. The president can request or even present a budget, but Congress has the final say. The SCOTUS scuttled the line item veto which would have given him some teeth, but no one really wanted that. No one wants any accountability, now there is some real deflection for you.

Doubling the debt? huh? Do you understand the difference between the national debt and a budget deficit or surplus?

A safety net that doesn't provide safety is worthless.

Tell that to people with nothing, who actually have nothing. For them the safety net is like hitting the big one in a lottery. Shit, some live only because of SSI

 

[80zephyr]

See post 32 and 36.

Not refuting his numbers. Are they correct?

 

[80zephyr]

Tell that to people with nothing, who actually have nothing. For them the safety net is like hitting the big one in a lottery. Shit, some live only because of SSI

Its a safety net THEY PAID FOR. Not the same.

 

[Procrustes Stretched]

Its a safety net THEY PAID FOR. Not the same.

Others were saying previous generation paid in for what you take out. It's not a savings plan not really a retirement plan

 

[kyzr]

Including money for 'the border.'

Actually a "Remittance Tax" on money sent out of the US would pay for the wall and ICE.

 

[g5000]

That's your repeated lie. An example why you were included in a poll as one of the board's most dishonest posters.

Another deaf, dumb, and blind partisan hack.

I've said your propagandists keep you fools in the dark, but this is ridiculous!

US budget deficit topped $1 trillion in 2019 for the first time in seven years

The deficit was about half that when Trump and the GOP Congress took office.

And look who MASSIVELY increased government spending as a percentage of GDP BEFORE Covid:

You can see the full chart here: Government Spending Just Keeps on Growing | Committee for a Responsible Federal Budget

 

[g5000]

What every politician knows is that you can artificially juice our GDP by massively spending federal money. So that's what they do. They have been doing this for DECADES.

The rubes have never caught on to this.

Trump, always one quick to recognize a grift when he sees one, set to work doing just that upon taking office.

Trump overestimated his skills, though. He thought he could spend our money into 4 to 6 percent GDP growth. But he failed. He briefly made it to 3 percent GDP growth with his spending.

BEFORE COVID.

Trump only knows how to bankrupt the organizations he runs. He has no clue how to grow an economy the right way.

The only reason GDP grew in the Trump years is because of all new highs in government spending by Trump.

Here is the formula for GDP:

GDP = C + G + I + NX. C is equal to all private consumption, or consumer spending, in a nation's economy, G is the sum of government spending, I is the sum of all the country's investment, including businesses capital expenditures and NX is the nation's total net exports, calculated as total exports minus total imports (NX = Exports - Imports).

Gross Domestic Product - GDP

Now you can understand the motives behind this: