$8 Trillion Of Debt Was Not Big Enough For Trump

[Fort Fun Indiana]

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

On corporations and rich people?

 

[kyzr]

On corporations and rich people?

On all money sent out of the US.

 

[g5000]

On corporations and rich people?

No, he means Mexicans.

 

[kyzr]

No, he means Mexicans.

On ALL money sent out of the US.

 

[g5000]

On ALL money sent out of the US.

Examples?

 

[g5000]

A remittance is, by definition, money sent home by a migrant.

So, basically, Mexicans and other brown people.

 

[jotathought]

Um...retard? Read my post again.

Gross national debt under Biden has grown $6.3T since he took office in 2021 and $7.8T during Trump's full term. The problem you're misunderstanding is that it's debt, and Biden still has 6 months in office (with carryover debt for the next president). Who is the retard?

 

[Nostra]

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.

Show us how he doubled the deficit before the Fauci Flu g5000

Here are all 4 of his deficits (in billions)

2017 $665
2018 $779
2019 $984

Those were his deficits pre- Fauci Flu.

You suck at math.

U.S. Budget Deficit by Year Compared to GDP and Debt

The federal budget deficit rises when government spending is high, such as during wars or recessions. Budget deficits cause the national debt to grow.

www.thebalancemoney.com

 

[jotathought]

Did that happen?

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

Sure it would have .. the millions of unemployed people caused by states closing down there economies would have had limited benefits (as opposed to inflated benefits that carried well into Biden's run), rent moratorium and other social safety nets. No need to rely on a wizard, it takes a very simple mind to understand this basic concept.

 

[jotathought]

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

Why would you contradict your own question from an earlier post? What do you think the additional spending during the "pandemic" provided to many who lost their jobs because states closed down their economies?

 

[80zephyr]

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

That is all a distraction to keep people from what they earned. Next month I turn 70, and about half of the males I went to school with died without ever retiring. Social security is a bad program.

 

[g5000]

Gross national debt under Biden has grown $6.3T since he took office in 2021 and $7.8T during Trump's full term. The problem you're misunderstanding is that it's debt, and Biden still has 6 months in office (with carryover debt for the next president). Who is the retard?

You misread my post about the DEFICIT and though you could educate me, and don't have the integrity to admit it.

Sad.

 

[g5000]

Why would you contradict your own question from an earlier post? What do you think the additional spending during the "pandemic" provided to many who lost their jobs because states closed down their economies?

The stimulus was a major contributor to the inflation which followed. As was Trump's massive deficit spending up to and during Covid.

Trump says he wants a bigger stimulus package than the $2.2 trillion amount that Democrats are seeking​

 

[kyzr]

Examples?

Multiply the money sent out of the US by 0.009 (0.90% Remittance Tax)

Foreign remittance: Definition, meaning, and tax implications

You may be stuck with questions about foreign remittances. What are they? How are they made?What do they mean for your taxes? You've come to the right place.

wise.com

The United States Loses $150 Billion Annually in Remittances | FAIRUS.org

What are "remmitance payments" when it comes to illegal immigration and how do they affect the US and the US economy?

www.fairus.org

$150b is sent out of the US annually

So at that 0.009 tax rate the US would get $1.35b in Remittance Tax, enough to help protect the border.

That is small but helpful. The big new revenue is the "Transaction Tax" on all financial transactions

Commercial Automated Clearinghouse Transactions Processed by the Federal Reserve--Annual Data

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

So if there are $160b in financial transactions DAILY, a 1% Transaction Tax would gain $1.6b a day or $400b annually.

 

[Nostra]

You misread my post about the DEFICIT and though you could educate me, and don't have the integrity to admit it.

Sad.

You lied about Trump doubling the deficit prior to the Fauci Flu, liar.

 

[Procrustes Stretched]

That is all a distraction to keep people from what they earned. Next month I turn 70, and about half of the males I went to school with died without ever retiring. Social security is a bad program.

It was enacted when what was happening? People your age and younger were destitute, on the streets.

 

[Nostra]

It was enacted when what was happening? People your age and younger were destitute, on the streets.

When SS was enacted the retirement age was higher than the life expectancy age.

Today that would mean retirement age for SS should be 80 years.

 

[Mac1958]

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

On top of all that, he ALSO begged the Fed for EVEN MORE quantitative easing and EVEN LOWER interest rates, both of them inflationary, big time.

He has no clue. He just wants "his numbers" to look good, at any cost.

Trump calls on Fed to cut rates by 1% and urges more quantitative easing

In a two-part tweet, the president says more easing would make the economy "go up like a rocket."

www.cnbc.com

 

[g5000]

Multiply the money sent out of the US by 0.009 (0.90% Remittance Tax)

Foreign remittance: Definition, meaning, and tax implications

You may be stuck with questions about foreign remittances. What are they? How are they made?What do they mean for your taxes? You've come to the right place.

wise.com

The United States Loses $150 Billion Annually in Remittances | FAIRUS.org

What are "remmitance payments" when it comes to illegal immigration and how do they affect the US and the US economy?

www.fairus.org

$150b is sent out of the US annually

So at that 0.009 tax rate the US would get $1.35b in Remittance Tax, enough to help protect the border.

Not really. The annual budget for Customs and Border Patrol is $13 billion. So your remittance tax would cover the cost of their coffee.

That is small but helpful. The big new revenue is the "Transaction Tax" on all financial transactions

Commercial Automated Clearinghouse Transactions Processed by the Federal Reserve--Annual Data

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

So if there are $160b in financial transactions DAILY, a 1% Transaction Tax would gain $1.6b a day or $400b annually.

One percent?!? That's more than even Bernie Sanders is asking for! What are you, a socialist?

The problem with FTTs is they decrease trading volume and lower asset prices and result in revenues coming in below their targets.

There are a lot of downsides to an FTT. I won't plagiarize any further and will just link to this:

The Impact of a Financial Transaction Tax

What is a financial transaction tax? How do financial transaction taxes work? Learn more about the structure and impact of a financial transaction tax (FTT)

taxfoundation.org

 

[g5000]

That is all a distraction to keep people from what they earned. Next month I turn 70, and about half of the males I went to school with died without ever retiring. Social security is a bad program.

No, it sounds like you live on a toxic waste dump if people are dying way before the average lifespan.