Deficit Increased by $7B under Trump, But now the GOP tries to claim fiscal Responsibility????

[Faun]

In terms of the debt

You stupid fuck

That's above nostra's reading level. Give him something from Bush's, "The Pet Goat," if you want him to keep up.

 

[Dana7360]

Really?

Ever by a house or a new car?

Stupid fuck

It's very easy to spend what we have.

Close the loopholes, properly tax everyone in the nation.

We would have enough money to pay our debts and to bring out nation into the 21st century.

Instead republicans cut taxes for the filthy rich. They create loopholes that further cut their taxes so many of them don't pay any federal income taxes.

While our nation is falling apart.

We need to stop letting the filthy rich not pay taxes. We need to close the loopholes. We need to raise the tax rates that the filthy rich pay and make sure they actually pay it.

It's not a matter that we don't have the money. We don't have the politicians who will do what's responsible to properly financially support our nation.

 

[bendog]

I score it as significantly better that when Obama was in office. True, the tax cuts did not spur the 4-5% growth as Trump claimed it would, but:

The data are in and the economy grew at a 3.1 percent rate from the fourth quarter of 2017 to the fourth quarter of 2018, one measure of annual growth, according to the Bureau of Economic Analysis. That is the first time in 13 years that it’s been over 3 percent, the White House notes. The administration attributes the gains to tax cuts, deregulation and other pro-growth policies.

Annual economic growth hits 3 percent, defying predictions of Trump critics

The White House is touting new economic numbers that famous economists once predicted would never happen under President Trump.

www.foxnews.com

True, that growth did not last, as 2019 wasn't nearly as robust, and I don't know why. I do know that it sucked once the Coronavirus hit, which wasn't Trump's fault. But up until then our economy was still doing better than it did under Obama.


Now, as to fiscal responsibility, I don't know that either party can claim to be that but not let's not ignore which party has always wanted to spend and tax more than the other one. Specifically focused on spending, there's no contest: the democrats are wildly irresponsible compared to the GOP. No matter who is in the WH, they always want to spend more and that is without question. There is no time in US history where the democrats have ever said "no, we can't spend that much, let's spend less." And they have always lied about how much the spending would actually be.

On the taxes side, I think it's true that both parties lie about tax cuts and tax hikes. The repubs lie about how much economic growth you get from a tax cut, and the democrats lie about how much revenue the gov't will take in, and they lie about the economic impact that a tax hike will have on an economy. It is simple Econ 101, when you take more out of the private sector in taxes then you get less investment. To argue that is to deny reality.

So, who is more fiscally responsible? The real truth is that our gov't does not have a revenue problem; there are studies reaching back into the 50s that show gov't revenue doesn't change much relative to changes in tax rates. That's because changes in the tax rates result in behavioral changes: if you raise taxes you get less investment as the rich people find other places to put their money and avoid the higher tax rate. So, to me fiscal responsibility mainly lies in spending less, and certainly not the ridiculous amounts that today's democrats want to do. Trump's spending was pretty much in-line with Obama's, no? It was the tax cuts that cut into revenue that resulted in his big deficits. And anybody who wants to claim that the Biden spending will be paid for is flat out lying. He says it amounts to costing 0 dollars. Bull fucking shit.

I appreciate the thoughtful post, but it seems to be to be "value laden." Which is fine, but I'm not sure that was the OP's intent. You may be right to say we "don't have a revenue problem," but please ... the gop started wars totalling over 8 trillion.

And govt support of educ, retirement, healtcare ... all of that is popular. Moscow Mitch (-: is against it, but he's a shifty guy standing on shifting sand. LOL

The dems won the election. And it wasn't really close in terms of total votes. Elections have consequences .. or should, imo. Even if I don't particularly like the consequences.

 

[Dana7360]

First off, the 11.5 is over 10 years, not all this year, just to keep the facts straight.

And yes it is a shit ton and is a problem, but it is not THE problem.

The next guy that from the Rs or Ds that gets elected will dwarf Biden.

Until we break that chain we might as well sit back and enjoy the time we have left as a country.

It's not the spending that people should look at and be concerned with.

It's the amount of spending that's not paid for.

It's very easy to pay for spending but we don't have a government that is willing to do the responsible thing to pay for the spending.

Most of the spending in the infrastructure bills are paid for.

I want all of it paid for but we will have to see how it ends up being.

My parents and grandparents paid for the interstate system we now have and is now falling apart in many parts of our nation.

We can't be responsible like past generations?

So spending doesn't matter as long as it's not wasteful and it's paid for.

Cutting taxes and raising our military spending to astronomical historic heights is very irresponsible and the only thing we got for it is a nation that's falling apart and a small segment of our population filthy rich.

Americans want our way of life but we don't want to pay for it. Which is nothing but a bunch of deadbeats.

 

[bendog]

Seriously.

No one goes to their revenue source to tell them to cut the amount of money they contribute to expect to increase revenues.

I've been saying this since the reagan years.

Cutting taxes is spending because it cuts the amount of revenues this nation has to pay our bills.

Cutting taxes then going on a spending spree which is what all republican presidents do, is very irresponsible.

Their spending never benefits our nation. Our nation is falling apart and we have real social problems that have been ignored for decades.

Yet republicans pour trillions into the pockets of the filthy rich. Republicans waste trillions on war and military while everything else in our nation is falling apart.

I can't totally agree with that because some taxes do negatively affect individual decisions being made on a pure decision of what will benefit and individual in a market. We debate on how high cap gains or corp taxes should be, but there's no disagreement that putting them too high will reduce productive econ activity.

But the gop's pursued supply side income tax cuts for nearly 50 years now, and the results are in .... overall. It created income inequality that was not present when progressives enacted highly progressive taxes. By 1980, that may have contributed to the stag of stagflation, but we don't have stagflation now, and we don't face the same market factors we did in the 1970s of lack of energy supply and labor.

 

[Nostra]

Seriously.

No one goes to their revenue source to tell them to cut the amount of money they contribute to expect to increase revenues.

I've been saying this since the reagan years.

Cutting taxes is spending because it cuts the amount of revenues this nation has to pay our bills.

Cutting taxes then going on a spending spree which is what all republican presidents do, is very irresponsible.

Their spending never benefits our nation. Our nation is falling apart and we have real social problems that have been ignored for decades.

Yet republicans pour trillions into the pockets of the filthy rich. Republicans waste trillions on war and military while everything else in our nation is falling apart.

Cutting taxes is spending because it cuts the amount of revenues this nation has to pay our bills.

Another moron who thinks all money belongs to the Govt.

Show us the years tax revenue fell after a tax cut.

 

[Nostra]

That's above nostra's reading level. Give him something from Bush's, "The Pet Goat," if you want him to keep up.

Veggie Joe said it costs zero dollars.

Sorry you voted for such a dumbfuck.

 

[Faun]

Veggie Joe said it costs zero dollars.

Sorry you voted for such a dumbfuck.

In terms of debt, dumbfuck. A pity you still can't comprehend that even after it's explained to you.

 

[Nostra]

In terms of debt, dumbfuck. A pity you still can't comprehend that even after it's explained to you.

However you want to spin the potted plant's comment.


It isn't paid for either, so it will add to the deficit.

 

[Faun]

However you want to spin the potted plant's comment.


It isn't paid for either, so it will add to the deficit.

Not according to when Biden said. Unfortunately, you're not capable of comprehending what he said. So there's that.

 

[LaDairis]

Tax cuts do not pay for themselves. They increase revenues SOMEWHAT.

People get to keep more of their money AND we get more growth?

Sounds like a win-win!!!

Newt - tax and spending cuts = excellent for America
W/Hastert - tax cuts, massive spending increases - disaster for America
Cocksucker in Chief/Pelosi - massive spending increases and tax hikes - disaster for America
Paul Ryan/Pelosi - ditto

 

[LaDairis]

Not according to when Biden said. Unfortunately, you're not capable of comprehending what he said. So there's that.

Nobody is capable of comprehending that senile deranged moron. Heck, he cannot even ID his wife....

 

[LaDairis]

going up LESS than would have had the tax cuts not been enacted

Gingrich/Clinton CUT TAXES and BALANCED THE BUDGET, and America roared with approval....

 

[maybelooking]

Leftist mentality is truly retarded.

So if spending was ridiculous under one POTUS, the lefts solution to the problem is to allow the next guy to be even more ridiculous!!!!!

sound logic!!!!

 

[LaDairis]

Leftist mentality is truly retarded.

So if spending was ridiculous under one POTUS, the lefts solution to the problem is to allow the next guy to be even more ridiculous!!!!!

sound logic!!!!

Indeed, they like to cite the "Clinton" budgets as proof of Democrat policies "working," but those budgets were passed without a single Dem vote, and were TAX AND SPENDING CUTS.

CUTTING SPENDING WORKED.

INCREASING SPENDING DID NOT.

What do Dems and post 1998 Zionist "Republicans for Biden" want?

MORE SPENDING

 

[Lesh]

It isn't paid for either, so it will add to the deficit.

Yea it is...no it won't

And you know it. You're trolling

 

[Lesh]

Veggie Joe said it costs zero dollars.

As it regards the debt.

But you know that too.

Troll on

 

[Lesh]

If you change jobs and reduce your income...you increase your debt. No?

No.

WTF? How stupid are you?

Let's do some math and see if you can explain your lunacy:

You make $100,000 per year.

You debt is $50,000.

You take another job making $90,000 per year.

Explain how that job change makes that $50,000 go up.

Fair enough. With all your bullshit I misunderstood what you were saying.

So you have $10K less because of your new job.

You don't think that will impact your ability to pay your $50K debt?

Explain that

 

[jc456]

Thank you for admitting you have nothing

Join your brother troll under that bridge

here you go. I said I would go get it. hang on there partner.

Biden's capital gains tax increase is more unproductive misdirection

The second problem is that raising the tax rate will not raise tax revenue. Whenever the capital gains tax is raised, investors hold on to assets longer (the "lock-in effect") to avoid a capital gains realization upon which they would be taxed. Capital gains realizations rise before an expected tax hike, but even ignoring this, revenue is lower than before the tax cut.

 

[jc456]

Fair enough. With all your bullshit I misunderstood what you were saying.

So you have $10K less because of your new job.

You don't think that will impact your ability to pay your $50K debt?

Explain that

not at all. You're strange thinking it would. Obligation is ut most, and people adjust their spending habits. Unlike a politician with american's money.