Biden will raise taxes by 4.3 Trillion, Trump will cut by 1.7 Tr.

[Flash]

I've been in the financial industry for over 20 years,

...and you are still a dumbass.

Increased taxes and more welfare doesn't make an economy more prosperous. Left Economics always fail. Go look it up. I shit you not.

Maybe you should remind him about the trillions Barry had printed to prop up his shitty economy. He thinks I'm lying or I'm ignorant. LOL

His shitty economy.

Another example of my point, thanks.

You are confused Moon Bat.

That dumbass Muslim Negro Obama spent trillions and went in debt trillions and increased poverty, decreased family income, destroyed health care, weakened the military, let millions of filthy Illegals flood in, increased taxes and had dismal economic growth.

The only people that did well under him were the Illegals, welfare queens, abortion clinics, Iranian Mullahs and the Obamaphone Lady.

It was a disaster when that Democrat Congress was elected in 2006. Bush had a good economy for six years until those Democrat buttpirates took over and fucked everything up when the CRA chcickens came home to roost and it wasn't until Trump was elected that we had a real recovery.

If you really knew anything about Finance you would know that.

 

[Paul Motter]

You can stop tapdancing now. You know, like everyone in here does, who Rumps Buddies are.

Then name one

 

[Paul Motter]

An independent report released on Wednesday by the Committee for a Responsible Federal Budget (CRFB) estimates that Democratic presidential nominee Joe Biden's proposed policies would increase taxes by about $4.3 trillion over 10 years while President Trump's would decrease tax revenue for the government by about $1.7 trillion.

4.7 Trillion is a LOT of money folks. It is more than 7-times the size of our Military budget. Do you want to pay enough in NEW taxes to rebuild our military seven times? And where would it go? To solar panels and windmills which we in California know are useless for energy, just look at our rolling blackouts caused by what? HEAT! When it gets too hot here, they turn off our AC, refrigerators and even our fans, no electricity because it is too hot. It is hell, people.

Well if you actually want the source rather than Fox spin ….

The Cost of the Trump and Biden Campaign Plans | Committee for a Responsible Federal Budget

Whoever is inaugurated on January 20, 2021, will face many fiscal challenges over his term.

www.crfb.org

Personally I think estimates of cost not taking into account congress or future events like wars and recessions is pretty much a waste of time. But CFRB is consistent in saying the increasing defitcts are going to create a social disaster

That CFRB link was the one I thought I had posted. I don't know what happened. That link must have been in the text I copied and pasted.

Of course deficits are bad, and we are already way beyond any acceptable levels, but like I said above, it was not Trump who created that deficit, it was the Fed.

 

[Dana7360]

An independent report released on Wednesday by the Committee for a Responsible Federal Budget (CRFB) estimates that Democratic presidential nominee Joe Biden's proposed policies would increase taxes by about $4.3 trillion over 10 years while President Trump's would decrease tax revenue for the government by about $1.7 trillion.

4.7 Trillion is a LOT of money folks. It is more than 7-times the size of our Military budget. Do you want to pay enough in NEW taxes to rebuild our military seven times? And where would it go? To solar panels and windmills which we in California know are useless for energy, just look at our rolling blackouts caused by what? HEAT! When it gets too hot here, they turn off our AC, refrigerators and even our fans, no electricity because it is too hot. It is hell, people.

Taxes are way too low especially for the filthy rich. A lot of them don't even pay anything in federal income tax.

trump is one of them.

We have a deficit and debt that are astronomical. It needs to be paid.

We need to start paying for things we buy instead of making future generations pay for it with millions in interest on it.

It's irresponsible to keep taxes this low.

The rich need to start paying their fair share. Biden will increase taxes on this who make over 400 thousand dollars a year.

You don't make that kind of money so you have nothing to worry about.

I find it disgusting that you don't want to financially support our nation but you expect everything this nation has to offer.

Our nation needs to be brought into the 21st century. We need infrastructure. Not more tax cuts for the rich. We need proper health care. Not more tax cuts for big business. We need to start being financially, economically and fiscally responsible. Not spend like there's no tomorrow to leave the bill for future generations.

 

[Remodeling Maidiac]

That debt is not going to pay itself off.

That debt will NEVER be paid off because politicians play shell games with our money. Need proof look no further than the American trust funds they constantly raid. Why did they take us off the gold standard? In a crisis paper is worthless. Need proof for that? Buy toilet paper at the height of a pandemic. If you can find any you will pay 5 to 10 times what its worth.

 

[Paul Motter]

An independent report released on Wednesday by the Committee for a Responsible Federal Budget (CRFB) estimates that Democratic presidential nominee Joe Biden's proposed policies would increase taxes by about $4.3 trillion over 10 years while President Trump's would decrease tax revenue for the government by about $1.7 trillion.

4.7 Trillion is a LOT of money folks. It is more than 7-times the size of our Military budget. Do you want to pay enough in NEW taxes to rebuild our military seven times? And where would it go? To solar panels and windmills which we in California know are useless for energy, just look at our rolling blackouts caused by what? HEAT! When it gets too hot here, they turn off our AC, refrigerators and even our fans, no electricity because it is too hot. It is hell, people.

Taxes are way too low especially for the filthy rich. A lot of them don't even pay anything in federal income tax.

trump is one of them.

We have a deficit and debt that are astronomical. It needs to be paid.

We need to start paying for things we buy instead of making future generations pay for it with millions in interest on it.

It's irresponsible to keep taxes this low.

The rich need to start paying their fair share. Biden will increase taxes on this who make over 400 thousand dollars a year.

You don't make that kind of money so you have nothing to worry about.

I find it disgusting that you don't want to financially support our nation but you expect everything this nation has to offer.

Our nation needs to be brought into the 21st century. We need infrastructure. Not more tax cuts for the rich. We need proper health care. Not more tax cuts for big business. We need to start being financially, economically and fiscally responsible. Not spend like there's no tomorrow to leave the bill for future generations.

Are you aware that even if you taxed the top 1% at 100% tax rate it still wouldn't even make a dent in our deficit? Like I said, deficits go away when more middle-class Americans make more revenue and hence naturally owe more in taxes at the existing rates. Just raising taxes alone in a bad economy does not work - not ever.

That is what we are looking at in THIS ELECTION

 

[TNHarley]

An independent report released on Wednesday by the Committee for a Responsible Federal Budget (CRFB) estimates that Democratic presidential nominee Joe Biden's proposed policies would increase taxes by about $4.3 trillion over 10 years while President Trump's would decrease tax revenue for the government by about $1.7 trillion.

4.7 Trillion is a LOT of money folks. It is more than 7-times the size of our Military budget. Do you want to pay enough in NEW taxes to rebuild our military seven times? And where would it go? To solar panels and windmills which we in California know are useless for energy, just look at our rolling blackouts caused by what? HEAT! When it gets too hot here, they turn off our AC, refrigerators and even our fans, no electricity because it is too hot. It is hell, people.

Taxes are way too low especially for the filthy rich. A lot of them don't even pay anything in federal income tax.

trump is one of them.

We have a deficit and debt that are astronomical. It needs to be paid.

We need to start paying for things we buy instead of making future generations pay for it with millions in interest on it.

It's irresponsible to keep taxes this low.

The rich need to start paying their fair share. Biden will increase taxes on this who make over 400 thousand dollars a year.

You don't make that kind of money so you have nothing to worry about.

I find it disgusting that you don't want to financially support our nation but you expect everything this nation has to offer.

Our nation needs to be brought into the 21st century. We need infrastructure. Not more tax cuts for the rich. We need proper health care. Not more tax cuts for big business. We need to start being financially, economically and fiscally responsible. Not spend like there's no tomorrow to leave the bill for future generations.

Taxes arent too low. The stupid duopoly you morons keep voting for just make it easy for them to get out of paying them.
Bidens answer to tax loopholes in the debate? Raise taxes! LMAO
It is ignorant, emotional rhetoric, for rubes like you to salivate over.
ATTENTION brain dead voter, the loop holes will still be there!
The rich would pay "their fair share" (whatever that is actually supposed to mean) if the tax code was simplified.
BUT if the duopoly actually FIXED problems idiots like you wouldnt vote for them anymore.

 

[iceberg]

Ya, taxes were lowered in 2019 alright. My Fica went down but my other federal withholding went up more than enough to make up for it. I lost money. Those kind of tax cuts I can live without. But Rumps Buddies raked in Trillions. And someday, it's time to pay it all back. And guess who gets to pay it back? Under Presidents like Rump, it ain't going to be Rumps Buddies, it's going to be people like me.

Um... exactly who are "Rump's Buddies?" - this is one of the phrases democrats use all the time but they never have any examples of who these "buddies" are?

And by the way, with 360-million citizens, 4.3 Trillion is 120,000 per person in the US, or 12,000 per year for every man, woman, and CHILD in the U.S. Realistically, kids don't pay taxes, so figure that every adult will pay $30k more in taxes per year. This is not just a vague "Rump's Buddies" accusation, these are real numbers.

You can stop tapdancing now. You know, like everyone in here does, who Rumps Buddies are.

the only way you can see people is by 1 criteria. their stance on trump.

are you one issue? does 1 person you support define you in the same manner? didn't think so. stop doing to others what you'd never allow done to you.

or carry on and be the dick you are being. your call in the end regardless of who you wish to blame it on.

 

[Faun]

An independent report released on Wednesday by the Committee for a Responsible Federal Budget (CRFB) estimates that Democratic presidential nominee Joe Biden's proposed policies would increase taxes by about $4.3 trillion over 10 years while President Trump's would decrease tax revenue for the government by about $1.7 trillion.

4.7 Trillion is a LOT of money folks. It is more than 7-times the size of our Military budget. Do you want to pay enough in NEW taxes to rebuild our military seven times? And where would it go? To solar panels and windmills which we in California know are useless for energy, just look at our rolling blackouts caused by what? HEAT! When it gets too hot here, they turn off our AC, refrigerators and even our fans, no electricity because it is too hot. It is hell, people.

Impeached Trump gave us an unbelievable $4.3 trillion deficit for FY2020. I'll take Biden's tax hike over Impeached Trump's tax cut any day.

 

[Winston]

That debt is not going to pay itself off.

“We need to pay down the debt”
BUT
“We need more pet human wetbacks that cost Americans BILLIONS.”

Your thoughts Mac1958 ?

I am sorry, but every economist worth two shits agrees, immigrants, both legal and illegal, contribute more to the economy than they take away, they are a positive force in our economy and have been since the founding of this country. Just so you know, although I doubt it will make a difference, Apple, Google, Amazon, eBay, Intel, Tesla, Yahoo, Capital One and Kohl's were all founded by immigrants or children of immigrants. They represent three trillion dollars in net worth and employ over one million people. Pretty big stack of dollars to weigh against any cost you might be misrepresenting

https://www.usnews.com/opinion/economic-intelligence/articles/2018-02-06/from-an-economic-and-civic-standpoint-immigrants-are-good-for-society

 

[Winston]

I've been in the financial industry for over 20 years,

...and you are still a dumbass.

Increased taxes and more welfare doesn't make an economy more prosperous. Left Economics always fail. Go look it up. I shit you not.

Maybe you should remind him about the trillions Barry had printed to prop up his shitty economy. He thinks I'm lying or I'm ignorant. LOL

His shitty economy.

Another example of my point, thanks.

You are confused Moon Bat.

That dumbass Muslim Negro Obama spent trillions and went in debt trillions and increased poverty, decreased family income, destroyed health care, weakened the military, let millions of filthy Illegals flood in, increased taxes and had dismal economic growth.

The only people that did well under him were the Illegals, welfare queens, abortion clinics, Iranian Mullahs and the Obamaphone Lady.

It was a disaster when that Democrat Congress was elected in 2006. Bush had a good economy for six years until those Democrat buttpirates took over and fucked everything up when the CRA chcickens came home to roost and it wasn't until Trump was elected that we had a real recovery.

If you really knew anything about Finance you would know that.

Finance, seriously. You cannot possibly make an argument supporting Trump through "finance". If you were looking at things strictly from a financial aspect, Bill Clinton would be THE MAN. Obama, not so good. His concessions to Republicans weakened his economic stimulus efforts, he should have told them to pound sand. But Trump has been a virtual disaster, in every aspect. The corporate tax cut was beyond stupid, it has stifled economic investment and vastly exacerbated rent seeking, which I am quite sure you have no concept of what that is let alone how it alone has crippled income growth and destroyed the expansion of the frontier curve. Oh, sorry, another concept you probably don't understand.

We got one way out of this debt problem, GROWTH. And that growth is going to be continue to be lackluster at best under the current tax system. Until we get back to something more progressive, like the tax system we had in the 1950's and 1960's, where we were experiencing double digit economic growth, we are destined to an eventual default on government debt, or a monetizing of it, that will all but destroy the American middle class.

 

[Paul Motter]

I am sorry, but every economist worth two shits agrees, immigrants, both legal and illegal, contribute more to the economy than they take away, they are a positive force in our economy and have been since the founding of this country. Just so you know, although I doubt it will make a difference, Apple, Google, Amazon, eBay, Intel, Tesla, Yahoo, Capital One and Kohl's were all founded by immigrants or children of immigrants. They represent three trillion dollars in net worth and employ over one million people. Pretty big stack of dollars to weigh against any cost you might be misrepresenting

https://www.usnews.com/opinion/economic-intelligence/articles/2018-02-06/from-an-economic-and-civic-standpoint-immigrants-are-good-for-society

You should be sorry. There is a big difference between legal and illegal immigrants and it is just insane to put them all in the same category. I grew up in Phoenix and San Diego, and I have been the victim of two car accidents with uninsured illegal alien drivers, one of them was an actually a smuggling incident on 1-8 just north of the border. That driver pulled out from a shoulder on the highway and we hit him dead on as we were going 70 MPH. I am lucky I lived since I almost went through the windshield. I was heli-vac back to San Diego, and the state of CA never even gave us the name of the person driving that car. But when we picked up our totaled car in Jucumba CA, they told us "they were picking up an illegal to drive him back to the city, they cross down here all the time and there are people who they pay for a ride to the city."

I get it, they pick the crops. I have seen it my whole life driving through El Centro. They are also nannies and they make great tamales you can buy by the road. They contribute so much, except for M-13 members who mostly just contribute drugs and crime. But sorry I got off the point here.

 

[Mac1958]

I've been in the financial industry for over 20 years,

...and you are still a dumbass.

Increased taxes and more welfare doesn't make an economy more prosperous. Left Economics always fail. Go look it up. I shit you not.

Maybe you should remind him about the trillions Barry had printed to prop up his shitty economy. He thinks I'm lying or I'm ignorant. LOL

His shitty economy.

Another example of my point, thanks.

You are confused Moon Bat.

That dumbass Muslim Negro Obama spent trillions and went in debt trillions and increased poverty, decreased family income, destroyed health care, weakened the military, let millions of filthy Illegals flood in, increased taxes and had dismal economic growth.

The only people that did well under him were the Illegals, welfare queens, abortion clinics, Iranian Mullahs and the Obamaphone Lady.

It was a disaster when that Democrat Congress was elected in 2006. Bush had a good economy for six years until those Democrat buttpirates took over and fucked everything up when the CRA chcickens came home to roost and it wasn't until Trump was elected that we had a real recovery.

If you really knew anything about Finance you would know that.

Finance, seriously. You cannot possibly make an argument supporting Trump through "finance". If you were looking at things strictly from a financial aspect, Bill Clinton would be THE MAN. Obama, not so good. His concessions to Republicans weakened his economic stimulus efforts, he should have told them to pound sand. But Trump has been a virtual disaster, in every aspect. The corporate tax cut was beyond stupid, it has stifled economic investment and vastly exacerbated rent seeking, which I am quite sure you have no concept of what that is let alone how it alone has crippled income growth and destroyed the expansion of the frontier curve. Oh, sorry, another concept you probably don't understand.

We got one way out of this debt problem, GROWTH. And that growth is going to be continue to be lackluster at best under the current tax system. Until we get back to something more progressive, like the tax system we had in the 1950's and 1960's, where we were experiencing double digit economic growth, we are destined to an eventual default on government debt, or a monetizing of it, that will all but destroy the American middle class.

These people aren't told about most of this, therefore they'll just assume you're lying.

I learned a long time ago not to spend much time on this topic with Trumpsters. They have no idea what's going on. Their "education" on what caused the Meltdown has been provided by talk radio. Worst of all, they buy into the notion that they and Republicans know how to be fiscally responsible. It's pointless.

 

[Paul Motter]

I've been in the financial industry for over 20 years,

...and you are still a dumbass.

Increased taxes and more welfare doesn't make an economy more prosperous. Left Economics always fail. Go look it up. I shit you not.

Maybe you should remind him about the trillions Barry had printed to prop up his shitty economy. He thinks I'm lying or I'm ignorant. LOL

His shitty economy.

Another example of my point, thanks.

You are confused Moon Bat.

That dumbass Muslim Negro Obama spent trillions and went in debt trillions and increased poverty, decreased family income, destroyed health care, weakened the military, let millions of filthy Illegals flood in, increased taxes and had dismal economic growth.

The only people that did well under him were the Illegals, welfare queens, abortion clinics, Iranian Mullahs and the Obamaphone Lady.

It was a disaster when that Democrat Congress was elected in 2006. Bush had a good economy for six years until those Democrat buttpirates took over and fucked everything up when the CRA chcickens came home to roost and it wasn't until Trump was elected that we had a real recovery.

If you really knew anything about Finance you would know that.

Finance, seriously. You cannot possibly make an argument supporting Trump through "finance". If you were looking at things strictly from a financial aspect, Bill Clinton would be THE MAN. Obama, not so good. His concessions to Republicans weakened his economic stimulus efforts, he should have told them to pound sand. But Trump has been a virtual disaster, in every aspect. The corporate tax cut was beyond stupid, it has stifled economic investment and vastly exacerbated rent seeking, which I am quite sure you have no concept of what that is let alone how it alone has crippled income growth and destroyed the expansion of the frontier curve. Oh, sorry, another concept you probably don't understand.

We got one way out of this debt problem, GROWTH. And that growth is going to be continue to be lackluster at best under the current tax system. Until we get back to something more progressive, like the tax system we had in the 1950's and 1960's, where we were experiencing double digit economic growth, we are destined to an eventual default on government debt, or a monetizing of it, that will all but destroy the American middle class.

Back in the 1950s and 60s we had the strongest economy and manufacturing production in the world. Almost all the middle class had factory jobs that paid better than minimum wage. Plus the rest of the world was ravaged by the world wars and needed time to recover. The only reason Clinton was able to balance the budget was because of the 1999 tech-stock bubble. Trump was actually doing very well for lower-income people - raising the minimum wage, and medium wage household income grew faster during his 4 years the most since Clinton. He also employed more Black and Hispanic workers than ever before - until Covid.

Real Median Household Income in the United States <-- check out this chart.

 

[Winston]

I am sorry, but every economist worth two shits agrees, immigrants, both legal and illegal, contribute more to the economy than they take away, they are a positive force in our economy and have been since the founding of this country. Just so you know, although I doubt it will make a difference, Apple, Google, Amazon, eBay, Intel, Tesla, Yahoo, Capital One and Kohl's were all founded by immigrants or children of immigrants. They represent three trillion dollars in net worth and employ over one million people. Pretty big stack of dollars to weigh against any cost you might be misrepresenting

https://www.usnews.com/opinion/economic-intelligence/articles/2018-02-06/from-an-economic-and-civic-standpoint-immigrants-are-good-for-society

You should be sorry. There is a big difference between legal and illegal immigrants and it is just insane to put them all in the same category. I grew up in Phoenix and San Diego, and I have been the victim of two car accidents with uninsured illegal alien drivers, one of them was an actually a smuggling incident on 1-8 just north of the border. That driver pulled out from a shoulder on the highway and we hit him dead on as we were going 70 MPH. I am lucky I lived since I almost went through the windshield. I was heli-vac back to San Diego, and the state of CA never even gave us the name of the person driving that car. But when we picked up our totaled car in Jucumba CA, they told us "they were picking up an illegal to drive him back to the city, they cross down here all the time and there are people who they pay for a ride to the city."

I get it, they pick the crops. I have seen it my whole life driving through El Centro. They are also nannies and they make great tamales you can buy by the road. They contribute so much, except for M-13 members who mostly just contribute drugs and crime. But sorry I got off the point here.

Do we not have some responsibility concerning those accidents? If we would incorporate those aliens in to our country they would get drivers licenses, pass road tests, that type of thing. Instead, they just drive without a license and without any training. They get popped, they just don't show up for court and move on. And the M-13 bit, that gang was founded in the US, and carried over the border by deported immigrants.

Look, I feel your pain. My family has been in this country since, well before there was a country. My great grandfather owned thousands of acres, right here in the foothills of the Blue Ridge mountains. Now, the biggest owner of my family's former land is an immigrant. I don't even know if he is legal. But he grows tomatoes and bell peppers and strokes me a check for fifty grand every year. No "native" has been able to do that for three generations.

 

[Flash]

I've been in the financial industry for over 20 years,

...and you are still a dumbass.

Increased taxes and more welfare doesn't make an economy more prosperous. Left Economics always fail. Go look it up. I shit you not.

Maybe you should remind him about the trillions Barry had printed to prop up his shitty economy. He thinks I'm lying or I'm ignorant. LOL

His shitty economy.

Another example of my point, thanks.

You are confused Moon Bat.

That dumbass Muslim Negro Obama spent trillions and went in debt trillions and increased poverty, decreased family income, destroyed health care, weakened the military, let millions of filthy Illegals flood in, increased taxes and had dismal economic growth.

The only people that did well under him were the Illegals, welfare queens, abortion clinics, Iranian Mullahs and the Obamaphone Lady.

It was a disaster when that Democrat Congress was elected in 2006. Bush had a good economy for six years until those Democrat buttpirates took over and fucked everything up when the CRA chcickens came home to roost and it wasn't until Trump was elected that we had a real recovery.

If you really knew anything about Finance you would know that.

Finance, seriously. You cannot possibly make an argument supporting Trump through "finance". If you were looking at things strictly from a financial aspect, Bill Clinton would be THE MAN. Obama, not so good. His concessions to Republicans weakened his economic stimulus efforts, he should have told them to pound sand. But Trump has been a virtual disaster, in every aspect. The corporate tax cut was beyond stupid, it has stifled economic investment and vastly exacerbated rent seeking, which I am quite sure you have no concept of what that is let alone how it alone has crippled income growth and destroyed the expansion of the frontier curve. Oh, sorry, another concept you probably don't understand.

We got one way out of this debt problem, GROWTH. And that growth is going to be continue to be lackluster at best under the current tax system. Until we get back to something more progressive, like the tax system we had in the 1950's and 1960's, where we were experiencing double digit economic growth, we are destined to an eventual default on government debt, or a monetizing of it, that will all but destroy the American middle class.

Back when we had high top end tax rates there were many more deductions and very few people paid anything under those rates.

Also, more important, at that time of great economic growth the total (Fed, State and Local) burden on the economy was less than 20% whereas it is pushing 40% nowadays. Everybody paid less taxes. That meant they spent more money in the productive economy and that is why we had really good growth.

Taxes never produces prosperity. Taxes are always a burden on the economy. Sometimes that burden is necessary like for defense, courts, police etc. It is unnecessary to have a filthy welfare state where money is taken from those that earn it and given to those that didn't earn it. We should have no welfare, grants, entitlements, bailouts or subsidies.

As far as progressive taxation. That is immoral and nothing more than government sponsored thievery. We should never have a voting demographic that get to elect government officials that steal money on their behalf.

We need to have the lower wage earners pay more of the relative tax burden so that they have an incentive to vote for legislators that keep taxes lower.

 

[Winston]

I've been in the financial industry for over 20 years,

...and you are still a dumbass.

Increased taxes and more welfare doesn't make an economy more prosperous. Left Economics always fail. Go look it up. I shit you not.

Maybe you should remind him about the trillions Barry had printed to prop up his shitty economy. He thinks I'm lying or I'm ignorant. LOL

His shitty economy.

Another example of my point, thanks.

You are confused Moon Bat.

That dumbass Muslim Negro Obama spent trillions and went in debt trillions and increased poverty, decreased family income, destroyed health care, weakened the military, let millions of filthy Illegals flood in, increased taxes and had dismal economic growth.

The only people that did well under him were the Illegals, welfare queens, abortion clinics, Iranian Mullahs and the Obamaphone Lady.

It was a disaster when that Democrat Congress was elected in 2006. Bush had a good economy for six years until those Democrat buttpirates took over and fucked everything up when the CRA chcickens came home to roost and it wasn't until Trump was elected that we had a real recovery.

If you really knew anything about Finance you would know that.

Finance, seriously. You cannot possibly make an argument supporting Trump through "finance". If you were looking at things strictly from a financial aspect, Bill Clinton would be THE MAN. Obama, not so good. His concessions to Republicans weakened his economic stimulus efforts, he should have told them to pound sand. But Trump has been a virtual disaster, in every aspect. The corporate tax cut was beyond stupid, it has stifled economic investment and vastly exacerbated rent seeking, which I am quite sure you have no concept of what that is let alone how it alone has crippled income growth and destroyed the expansion of the frontier curve. Oh, sorry, another concept you probably don't understand.

We got one way out of this debt problem, GROWTH. And that growth is going to be continue to be lackluster at best under the current tax system. Until we get back to something more progressive, like the tax system we had in the 1950's and 1960's, where we were experiencing double digit economic growth, we are destined to an eventual default on government debt, or a monetizing of it, that will all but destroy the American middle class.

Back in the 1950s and 60s we had the strongest economy and manufacturing production in the world. Almost all the middle class had factory jobs that paid better than minimum wage. Plus the rest of the world was ravaged by the world wars and needed time to recover. The only reason Clinton was able to balance the budget was because of the 1999 tech-stock bubble. Trump was actually doing very well for lower-income people - raising the minimum wage, and medium wage household income grew faster during his 4 years the most since Clinton. He also employed more Black and Hispanic workers than ever before - until Covid.

Real Median Household Income in the United States <-- check out this chart.

The difference between now and the 1950's and 1960's is that back then, our tax code punished rent seeking and encouraged investment. Today, our tax code encourages rent-seeking and discourages investment. Come on, unearned income is taxed at a lower rate than earned income, WTF. How does that make sense. Go out and EARN money, pay a higher tax rate than RENT SEEKING. Look, this is really simple, in regards to the corporate tax rate. The weighted average cost of capital is INVERSELY related to the tax rate. A lower tax rate means capital is MORE EXPENSIVE. That means companies will sit on cash instead of take the risk of a capital investment. Look around, corporations have tons of cash and are investing very little. That is because the "risk" premium is too high. It would be lower if tax rates were higher. And don't get me started on stock buybacks. Until 1981 they were ILLEGAL, seen as stock price manipulation. If we can point to one thing that started this economic stagnation, the legalization of corporate stock buybacks would be the primary suspect and a lower corporate tax rate would be a close second.

 

[Turtlesoup]

That debt is not going to pay itself off.

Which is why we need to cut spending--------------and stop allowing corrupt pols like Biden and others funnel money around to get kick backs.

 

[Winston]

I've been in the financial industry for over 20 years,

...and you are still a dumbass.

Increased taxes and more welfare doesn't make an economy more prosperous. Left Economics always fail. Go look it up. I shit you not.

Maybe you should remind him about the trillions Barry had printed to prop up his shitty economy. He thinks I'm lying or I'm ignorant. LOL

His shitty economy.

Another example of my point, thanks.

You are confused Moon Bat.

That dumbass Muslim Negro Obama spent trillions and went in debt trillions and increased poverty, decreased family income, destroyed health care, weakened the military, let millions of filthy Illegals flood in, increased taxes and had dismal economic growth.

The only people that did well under him were the Illegals, welfare queens, abortion clinics, Iranian Mullahs and the Obamaphone Lady.

It was a disaster when that Democrat Congress was elected in 2006. Bush had a good economy for six years until those Democrat buttpirates took over and fucked everything up when the CRA chcickens came home to roost and it wasn't until Trump was elected that we had a real recovery.

If you really knew anything about Finance you would know that.

Finance, seriously. You cannot possibly make an argument supporting Trump through "finance". If you were looking at things strictly from a financial aspect, Bill Clinton would be THE MAN. Obama, not so good. His concessions to Republicans weakened his economic stimulus efforts, he should have told them to pound sand. But Trump has been a virtual disaster, in every aspect. The corporate tax cut was beyond stupid, it has stifled economic investment and vastly exacerbated rent seeking, which I am quite sure you have no concept of what that is let alone how it alone has crippled income growth and destroyed the expansion of the frontier curve. Oh, sorry, another concept you probably don't understand.

We got one way out of this debt problem, GROWTH. And that growth is going to be continue to be lackluster at best under the current tax system. Until we get back to something more progressive, like the tax system we had in the 1950's and 1960's, where we were experiencing double digit economic growth, we are destined to an eventual default on government debt, or a monetizing of it, that will all but destroy the American middle class.

Back when we had high top end tax rates there were many more deductions and very few people paid anything under those rates.

Also, more important, at that time of great economic growth the total (Fed, State and Local) burden on the economy was less than 20% whereas it is pushing 40% nowadays. Everybody paid less taxes. That meant they spent more money in the productive economy and that is why we had really good growth.

Taxes never produces prosperity. Taxes are always a burden on the economy. Sometimes that burden is necessary like for defense, courts, police etc. It is unnecessary to have a filthy welfare state where money is taken from those that earn it and given to those that didn't earn it. We should have no welfare, grants, entitlements, bailouts or subsidies.

As far as progressive taxation. That is immoral and nothing more than government sponsored thievery. We should never have a voting demographic that get to elect government officials that steal money on their behalf.

We need to have the lower wage earners pay more of the relative tax burden so that they have an incentive to vote for legislators that keep taxes lower.

If a progressive tax rate is truly immoral and would not contribute to economic growth we should be kicking ass. There is not a single state in this nation that has a progressive tax system. Each and every state has a regressive tax system. And at this point, even the federal tax system is not progressive. The highest income earners pay a lower percentage of income than other income earners, primarily because most of their income is UNEARNED, by definition. Like I said, it is absolutely STUPID to tax unearned income lower than earned income. The fact that it is is a clear example of rent seeking gone rampant.

 

[Daryl Hunt]

You can stop tapdancing now. You know, like everyone in here does, who Rumps Buddies are.

Then name one

I can name a bunch. Call them Wall Street. Pick one, any one. How about his buddy, the Post Master General for one. Rump owes him.