Cuts to SS and Medicare

[Redfish]

1. The basis for the Trump tax cuts was to grow the economy 5%. That didn't happen, GDP was flat.
2. The Debt exploded under Obama, Trump, and Biden.
3. The interest on the Debt is exploding under Obama, Trump, and Biden
4. The small 9-year bump in "projected" tax revenue needs to be compared to the number WITHOUT the tax cuts.
5. IMHO the Trump tax cuts were a failure. They expire in 2025, thankfully.

I mostly agree but the Trump tax cuts cut taxes for everyone that pays taxes and did not change the 50% that pay zero taxes, that was the problem, half the country has no skin in the game.

 

[Dagosa]

First one that came up. They all say the same thing, you math illiterate fuckwit.

Go lick your wounds.

US Budget Deficit by Year Since 1969

What has the U.S. budget deficit has been every year since 1969? See how much more the government spends than it takes in every year.

www.thoughtco.com

Geesus idiot. They all show the same thing….decreases under Dems , increases under repugnants. Can you fking read ?
Reagan took the deficit from $70 billion to $175 billion. Bush 41 took it to $300 billion. Clinton got it to zero. Bush 43 took it from zero to $1.2 trillion. Obama halved it to $600 billion. Trump’s got it back to a trillion.

 

[Dagosa]

I mostly agree but the Trump tax cuts cut taxes for everyone that pays taxes and did not change the 50% that pay zero taxes, that was the problem, half the country has no skin in the game.

That’s bullshit . EVERYONE PAYS INTO THE GENERAL TAX FUND, the same place that federal income tax goes dummy as the SS trust fund surplus which is up to 2.9 trillion total goes into the general fund. Hey ignoramous, EVERYONE plays payroll tax which now has contributed 2.9 trillion in the general fund.
The payroll tax TOTALS 15% of their salary dumbo.

 

[Dagosa]

Sad... you are showing what a lack of scholarship you have.
Content: scholarly books always have information cited in the text, in footnotes, and have a bibliography or references.

LibGuides: Research Strategies: Scholarly Sources

LibGuides: Research Strategies: Scholarly Sources

libguides.csun.edu

So, you can’t go to the websites ?
Would you like a lesson in how to Google.

Sad... you are showing what a lack of scholarship you have.
Content: scholarly books always have information cited in the text, in footnotes, and have a bibliography or references.

LibGuides: Research Strategies: Scholarly Sources

LibGuides: Research Strategies: Scholarly Sources

libguides.csun.edu

Nice pigeon

 

[healthmyths]

So, you can’t go to the websites ?
Would you like a lesson in how to Google.

Nice pigeon

Evidently YOU are the one as you are asking ME to help YOU prove your point.
Again... laziness is a definite characteristic of unscholarly and definitely ignorant person that you are!
You make the claim... back it up! Why should I waste my time disproving your dumb ass unsubstantiated and definitely personal opinions?

 

[healthmyths]

Geesus idiot. They all show the same thing….decreases under Dems , increases under repugnants. Can you fking read ?
Reagan took the deficit from $70 billion to $175 billion. Bush 41 took it to $300 billion. Clinton got it to zero. Bush 43 took it from zero to $1.2 trillion. Obama halved it to $600 billion. Trump’s got it back to a trillion.

Prove it! Who believes ANYTHING you blow out of your ignorant brainless head? PROVE IT!

NOW here is some proof you are full of crap!

U.S. Budget Deficit by President

Here are the budget deficits for each president back to Woodrow Wilson. Obama had the highest dollar increase, but Wilson had the biggest percentage rise.

www.thebalancemoney.com

4 Factors That Influence the Deficit​

There are four factors that can influence each president's deficit.

1. Mandatory Budget​

The president has no control over the mandatory budget or its deficit. That includes Social Security and Medicare benefits.1

These are the two biggest expenses that any president has. The acts of Congress that created the programs determine how much must be spent. The president's budget can only estimate what these programs will cost. Unless the president gets Congress to change them, they must live with that spending.

2. Spending Control​

The Constitution gave Congress—not the president—the power to control spending.2 The president’s budget is just a starting point. Each house of Congress also prepares a discretionary spending budget.3

The two houses combine them into the final budget, which the president reviews and signs. If there's a hitch in the budget process, Congress can keep federal agencies running at current budget levels with a continuing resolution, or else federal agencies will shut down .1
There have been four shutdowns that lasted more than one business day. The first two happened in the winter of 1995-1996, and the third was in 2013. The fourth shutdown started in December 2018 and continued into January 2019.4

3. Inherited Policies​

Presidents inherit their predecessors' policies. For example, presidents will have lower revenue from predecessors' tax cuts. They also must manage social programs initiated by prior acts of Congress.

4. Catastrophic Events​

Some presidents have to confront catastrophic events. President Obama faced the 2008 financial crisis.5 President George W. Bush had to respond to the 9/11 terrorist attack and hurricanes Katrina and Rita. These responses came with economic price tags.

Trump's deficits..
The CBO predicted that the COVID-19 pandemic would increase the FY 2020 deficit by $2.2 trillion and the FY 2021 deficit by $600 billion.

 

[Dagosa]

Prove it! Who believes ANYTHING you blow out of your ignorant brainless head? PROVE IT!

NOW here is some proof you are full of crap!

U.S. Budget Deficit by President

Here are the budget deficits for each president back to Woodrow Wilson. Obama had the highest dollar increase, but Wilson had the biggest percentage rise.

www.thebalancemoney.com

4 Factors That Influence the Deficit​

There are four factors that can influence each president's deficit.

1. Mandatory Budget​

The president has no control over the mandatory budget or its deficit. That includes Social Security and Medicare benefits.1

These are the two biggest expenses that any president has. The acts of Congress that created the programs determine how much must be spent. The president's budget can only estimate what these programs will cost. Unless the president gets Congress to change them, they must live with that spending.

2. Spending Control​

The Constitution gave Congress—not the president—the power to control spending.2 The president’s budget is just a starting point. Each house of Congress also prepares a discretionary spending budget.3

The two houses combine them into the final budget, which the president reviews and signs. If there's a hitch in the budget process, Congress can keep federal agencies running at current budget levels with a continuing resolution, or else federal agencies will shut down .1
There have been four shutdowns that lasted more than one business day. The first two happened in the winter of 1995-1996, and the third was in 2013. The fourth shutdown started in December 2018 and continued into January 2019.4

3. Inherited Policies​

Presidents inherit their predecessors' policies. For example, presidents will have lower revenue from predecessors' tax cuts. They also must manage social programs initiated by prior acts of Congress.

4. Catastrophic Events​

Some presidents have to confront catastrophic events. President Obama faced the 2008 financial crisis.5 President George W. Bush had to respond to the 9/11 terrorist attack and hurricanes Katrina and Rita. These responses came with economic price tags.

Trump's deficits..
The CBO predicted that the COVID-19 pandemic would increase the FY 2020 deficit by $2.2 trillion and the FY 2021 deficit by $600 billion.

The party of 10 of the last 11 recessions is trying to lie their way out of It. Still Trying to tell us that Trump‘s massive tax cuts didn’t create huge deficits. Geesus, how dumb can you be ?

 

[Dagosa]

Prove it! Who believes ANYTHING you blow out of your ignorant brainless head? PROVE IT!

NOW here is some proof you are full of crap!

U.S. Budget Deficit by President

Here are the budget deficits for each president back to Woodrow Wilson. Obama had the highest dollar increase, but Wilson had the biggest percentage rise.

www.thebalancemoney.com

4 Factors That Influence the Deficit​

There are four factors that can influence each president's deficit.

1. Mandatory Budget​

The president has no control over the mandatory budget or its deficit. That includes Social Security and Medicare benefits.1

These are the two biggest expenses that any president has. The acts of Congress that created the programs determine how much must be spent. The president's budget can only estimate what these programs will cost. Unless the president gets Congress to change them, they must live with that spending.

2. Spending Control​

The Constitution gave Congress—not the president—the power to control spending.2 The president’s budget is just a starting point. Each house of Congress also prepares a discretionary spending budget.3

The two houses combine them into the final budget, which the president reviews and signs. If there's a hitch in the budget process, Congress can keep federal agencies running at current budget levels with a continuing resolution, or else federal agencies will shut down .1
There have been four shutdowns that lasted more than one business day. The first two happened in the winter of 1995-1996, and the third was in 2013. The fourth shutdown started in December 2018 and continued into January 2019.4

3. Inherited Policies​

Presidents inherit their predecessors' policies. For example, presidents will have lower revenue from predecessors' tax cuts. They also must manage social programs initiated by prior acts of Congress.

4. Catastrophic Events​

Some presidents have to confront catastrophic events. President Obama faced the 2008 financial crisis.5 President George W. Bush had to respond to the 9/11 terrorist attack and hurricanes Katrina and Rita. These responses came with economic price tags.

Trump's deficits..
The CBO predicted that the COVID-19 pandemic would increase the FY 2020 deficit by $2.2 trillion and the FY 2021 deficit by $600 billion.

YOUR own post.

“President Trump took office in 2017. By the end of his term four years later, he was estimated to hold $6.6 trillion in deficits, a 33% increase.

 

[Dagosa]

I mostly agree but the Trump tax cuts cut taxes for everyone that pays taxes and did not change the 50% that pay zero taxes, that was the problem, half the country has no skin in the game.

What bull shit. 80% of the tax cuts went to the top 1 %.
plus,

55 of top U.S. companies paid no federal income taxes​

Geesus, no wonder the deficits went up 33%

 

[Lisa558]

What bull shit. 80% of the tax cuts went to the top 1 %.
plus,

55 of top U.S. companies paid no federal income taxes​

Geesus, no wonder the deficits went up 33%

That’s because they pay the most. Would you expect most of the tax cuts to go to the half who pay no taxes at all?

 

[Dagosa]

That’s because they pay the most. Would you expect most of the tax cuts to go to the half who pay no taxes at all?

That’s BULL SHIT. They pay payroll taxes to the Fed, 7,5 plus 7.5 = 15%, state income tax, property and sales tax. What are you totally oblivious to the tax code ? hilarious. The top 1% owns 40% of all the wealth in the country, MORE THEN the bottom 50 % of all the people.
wtf, you expect their tax burden to be the same ? Ridiculous.
The minimum tax base for top peoples is now 15%.
Thats the same as the lowest income is paying in payroll taxes, (7,5 plus 7.5) that the rich as to pay in minimum income tax.

SO THEY PAY THE SAME FLAT RATE !

 

[Lisa558]

That’s BULL SHIT. They pay payroll taxes to the Fed, 7,5 plus 7.5 = 15%, state income tax, property and sales tax. What are you totally oblivious to the tax code ? hilarious. The top 1% owns 40% of all the wealth in the country, MORE THEN the bottom 50 % of all the people.
wtf, you expect their tax burden to be the same ? Ridiculous.
The minimum tax base for top peoples is now 15%.
Thats the same as the lowest income is paying in payroll taxes, (7,5 plus 7.5) that the rich as to pay in minimum income tax.

SO THEY PAY THE SAME FLAT RATE !

No, I don’t expect their tax burden to be the same. That’s why the top 1% pays 40% of the income tax burden and the bottom half pay 3%.

And don’t think you’re getting away with muddying the waters with your payroll tax bit. That is buying into programs like SS and Medicare, and the lower-income get a bigger return on their investment then the affluent as far as SS payouts go.

 

[healthmyths]

What bull shit. 80% of the tax cuts went to the top 1 %.
plus,

55 of top U.S. companies paid no federal income taxes​

Geesus, no wonder the deficits went up 33%

So I'm 100% confident that IF YOU received a tax cut, it would go under your mattress or buried in your back yard right?
Contrary those that received the bull shit tax cuts DID NOT hide under their mattresses or buried in their back yard BUT the either:
1) bought more yachts...(I used to work for a yacht builder and believe me the workers LOVED to have yachts purchased!), more cars i.e.
spent the money.
2) Or invested it into companies' stock
3) Or invested in start-ups that in some cases altered YOUR life! For example Apple computer your iPhone, and the idiocy you depend on it!

New research finds that while the benefits of personal income tax cuts are often concentrated in the short run, corporate income tax cuts generate “large and persistent” positive effects on the economy in the long run.

New Research Shows Positive Long-Run Effects from Corporate Tax Cuts

Policymakers should continue to focus on longer term impacts rather than emphasizing the short-term stimulus effects of tax cuts.

taxfoundation.org

Here is the proof!

 

[Dagosa]

So I'm 100% confident that IF YOU received a tax cut, it would go under your mattress or buried in your back yard right?
Contrary those that received the bull shit tax cuts DID NOT hide under their mattresses or buried in their back yard BUT the either:
1) bought more yachts...(I used to work for a yacht builder and believe me the workers LOVED to have yachts purchased!), more cars i.e.
spent the money.
2) Or invested it into companies' stock
3) Or invested in start-ups that in some cases altered YOUR life! For example Apple computer your iPhone, and the idiocy you depend on it!

New research finds that while the benefits of personal income tax cuts are often concentrated in the short run, corporate income tax cuts generate “large and persistent” positive effects on the economy in the long run.

New Research Shows Positive Long-Run Effects from Corporate Tax Cuts

Policymakers should continue to focus on longer term impacts rather than emphasizing the short-term stimulus effects of tax cuts.

taxfoundation.org

Here is the proof!

View attachment 759764

Ha ha,
the only long term effects are the huge long term deficits. You can’t add can you ? Trickle down never worked, never will. Repugnants are the super dullards who want everything for nothing. No infrastructure, no healthcare improvements, no comprehensive immigration reforms, just BS tax cuts for the rich……

You‘re happy to see us turn into a third world Putin led country, selling drugs you get from Mexico for firearms and making sure your poverty stricken laborers are high on Trump coke, happy and die early?

 

[Dagosa]

No, I don’t expect their tax burden to be the same. That’s why the top 1% pays 40% of the income tax burden and the bottom half pay 3%.

And don’t think you’re getting away with muddying the waters with your payroll tax bit. That is buying into programs like SS and Medicare, and the lower-income get a bigger return on their investment then the affluent as far as SS payouts go.

Wrong. The working class has 2.9 Trillion dollars in the general fund. The surplus pays for it. Try not to make up shit.

BTW uniformed , Medicare and SS are an insurance plan. By your ideas, during everyone of your gop recessions, older people could not retire.

You are silly and ignorant of what Medicare and SS are.
No SS enrollee could retire until the stock market recovered as their monthly income would depend upon the dividend values.
SS always pays retirees full value of their entitlements during recessions. INVESTMENTS DO NOT.

Smart people have retirement insurance plans PLUS investments. SS INSURANCE is protection from bad economic times which republicans are noted for.

If we made SS investments, old people would lose their houses like working people did during the BUSH recession. Those in govt retirement accounts like SS did quite well With their guaranteed income. You are ignorant of SS aren’t you ?

 

[Lisa558]

Wrong. The working class has 2.9 Trillion dollars in the general fund. The surplus pays for it. Try not to make up shit.

BTW uniformed , Medicare and SS are an insurance plan. By your ideas, during everyone of your gop recessions, older people Ould nt retire.

You are silly and ignorant of what Medicare and SS are.
No SS enrollee could retire until the stock market recovered as their monthly returns would depend upon the dividend values.
SS always pays retirees full value of their entitlements during recessions. INVESTMENTS DO NOT.

Smart people have retirement insurance plans PLUS investments. SS is protection from bag economic times which republicans are noted for.

You’re the ignorant one. I said that lower-income people get a bigger amount of SS relative to their contribution than affluent do.

And SS was never intended to replace one’s full paycheck. But it comes a lot closer to covering a lower-income person’s than a richer.

And finally, we do indeed pray for the stock market to recover from the big hit it’s seen this past year, but Biden’s inflationary policies and crazy spending while the Fed is trying to TIGHTEN the money supply is making things worse.

 

[healthmyths]

Wrong. The working class has 2.9 Trillion dollars in the general fund. The surplus pays for it. Try not to make up shit.

BTW uniformed , Medicare and SS are an insurance plan. By your ideas, during everyone of your gop recessions, older people could not retire.

You are silly and ignorant of what Medicare and SS are.
No SS enrollee could retire until the stock market recovered as their monthly income would depend upon the dividend values.
SS always pays retirees full value of their entitlements during recessions. INVESTMENTS DO NOT.

Smart people have retirement insurance plans PLUS investments. SS INSURANCE is protection from bad economic times which republicans are noted for.

If we made SS investments, old people would lose their houses like working people did during the BUSH recession. Those in govt retirement accounts like SS did quite well With their guaranteed income. You are ignorant of SS aren’t you ?Your ignorance of "investments" is so obvious!Do you really think that older people invest in risky stocks? YOUR ignorance of the capital market is just so embarrassing!FACTS someone as dumb of portfolio components are!

At age 60–69, consider a moderate portfolio (60% stock, 35% bonds, 5% cash/cash investments);
70–79, moderately conservative (40% stock, 50% bonds, 10% cash/cash investments);
80 and above, conservative (20% stock, 50% bonds, 30% cash/cash investments).

Charles Schwab

www.schwab.com

Of course those percentages don't mean anything to someone as ignorant as you!
You really should be embarrassed making dumb ass comments like.." old people would lose their houses l
And you are truly dumb regarding old people losing houses ... were you aware that those "working people" were actually caused by Obama's lawsuit against the staunch business practice of lending money to qualified people...someone I imagine YOU are NOT!

Obama represented was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans

President Barack Obama was a pioneering contributor to the national subprime real estate bubble.

dailycaller.com

But see most ignorant Democrats blame the recession on the GOP/Bush!

 

[Redfish]

That’s bullshit . EVERYONE PAYS INTO THE GENERAL TAX FUND, the same place that federal income tax goes dummy as the SS trust fund surplus which is up to 2.9 trillion total goes into the general fund. Hey ignoramous, EVERYONE plays payroll tax which now has contributed 2.9 trillion in the general fund.
The payroll tax TOTALS 15% of their salary dumbo.

yes, everyone that pays federal income taxes pays into the general fund. I never said otherwise, but 50% of americans pay no federal income tax, but they will collect SS, medicare, medicaid, etc for the rest of their lives, is that FAIR? and yes, everyone pays the "payroll tax" which is a misnomer for SS and medicare. and its not a tax, it's original intent was that it would be a savings account which you could draw when you retired. Why can't we call it what it is? The dems started destroying the system under LBJ due to financial greed and poor fiscal management. They are continuing that trend today, with the help of many republicans. That, my friend, is the problem.

 

[Redfish]

What bull shit. 80% of the tax cuts went to the top 1 %.
plus,

55 of top U.S. companies paid no federal income taxes​

Geesus, no wonder the deficits went up 33%

that is simply not true. CNN lied to you. the tax cuts cut the taxes of everyone that pays taxes and yes, 5% of a million if more than 5% of 10 thousand. Duh.

As to corporations, no corporation pays taxes out of its profits, the taxes it pays are included in the prices of its products, so we, the consumers, pay corporate income taxes.

you are very uninformed on this topic, might be best to leave this thread before making more of a fool of yourself.

 

[Dagosa]

CNN lied to you.

Didn’t get it from CNN. Tucker is the bastion of liars, not CNN. Go ahead, Google the info. Then proclaim how every one is wrong except for Tucker the d-bag.
Actually 80% is not accurate. It’s 83%…