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

[jc456]

The funny (ironic) thing is that this clown first claimed that the 3.5 T wasn't going to be paid for by new taxes...and now he's whining ABOUT those taxes.

Clearly he's not being honest. His issue is HOW the 3.5 gets paid for

Wealthy would dodge 90% of Biden's capital gains tax increase, study says

President's plan could generate $1 trillion in the next decade, but only $100 billion of that is likely to be paid.

www.cbsnews.com

Wealthy Americans will avoid paying 90% of the estimated $1 trillion increase in investment taxes that President Joe Biden is proposing this week, according to new study from the University of Pennsylvania's Wharton Business School.


The Wharton researchers concluded that tax avoidance, much of it legal, would cut nearly $900 billion of what the proposed increase on capital gains taxes could raise for the government.

 

[Toddsterpatriot]

Paying down the Federal debt is deflationary.

Is increasing it inflationary?

 

[jc456]

This bill raises $3 trillion in capital gains taxes and taxes on the rich? LOL!

How much do you think is collected in capital gains currently? In 2018, it was about $158 billion.
Are you going to get twice as much by doubling the rate?
Moving the top rate from 37% to 39.6% is gonna raise how much?

That's funny.

and the study that was done says

Wealthy would dodge 90% of Biden's capital gains tax increase, study says

President's plan could generate $1 trillion in the next decade, but only $100 billion of that is likely to be paid.

www.cbsnews.com

Wealthy Americans will avoid paying 90% of the estimated $1 trillion increase in investment taxes that President Joe Biden is proposing this week, according to new study from the University of Pennsylvania's Wharton Business School.


The Wharton researchers concluded that tax avoidance, much of it legal, would cut nearly $900 billion of what the proposed increase on capital gains taxes could raise for the government.

 

[Toddsterpatriot]

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.

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

No store ever cuts prices to increase sales?

 

[Toddsterpatriot]

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.

Close the loopholes,

Like the SALT deductions?

What else?

 

[Toddsterpatriot]

The dems won the election. And it wasn't really close in terms of total votes.

50/50 Senators, 222/213 in the House.

Looks pretty close.

 

[Lesh]

Is increasing it inflationary?

Yup. Inflation is actually the basis of our economic system...as long as it's not out of control.

It's why houses are affordable and why the government can get by only pay interest on the debt and not the debt itself.

Inflation reduces that debt. For instance we still carry the full cost of WWII on the books but it's virtually meaningless because of inflation

 

[Lesh]

50/50 Senators, 222/213 in the House.

Looks pretty close.

Thanks for pointing out how screwed up our election system has gotten. Dems have tens of millions more votes....just to achieve a 50/50 split. Republicans are WAY over represented.

 

[Lesh]

Don't throw your back out moving those goalposts. You always to that when your bullshit lies are exposed. Don't respond with a question.

Tell everyone how their debt went up in that scenario.

The ABILIITY TO MEET DEBT OBLIGATIONS as negatively impacted because of reduced revenue.

Do you think having a lower income makes it EASIER to pay your bills stupid?

Do you think it doesn't matter?

That's your idiotic claim

 

[Toddsterpatriot]

Thanks for pointing out how screwed up our election system has gotten. Dems have tens of millions more votes....just to achieve a 50/50 split. Republicans are WAY over represented.

Dems have tens of millions more votes....just to achieve a 50/50 split.

You understand that each state has its own senators, right?

 

[Lesh]

Wealthy would dodge 90% of Biden's capital gains tax increase, study says

President's plan could generate $1 trillion in the next decade, but only $100 billion of that is likely to be paid.

www.cbsnews.com

Wealthy Americans will avoid paying 90% of the estimated $1 trillion increase in investment taxes that President Joe Biden is proposing this week, according to new study from the University of Pennsylvania's Wharton Business School.


The Wharton researchers concluded that tax avoidance, much of it legal, would cut nearly $900 billion of what the proposed increase on capital gains taxes could raise for the government.

They can shift WHEN they pay that tax but they end up paying it anyway

 

[Nostra]

The ABILIITY TO MEET DEBT OBLIGATIONS as negatively impacted because of reduced revenue.

Do you think having a lower income makes it EASIER to pay your bills stupid?

Do you think it doesn't matter?

That's your idiotic claim

Your claim was that when someone takes a job with a lower salary than the one he had his debt goes up.

Your dipshittery was exposed for all to see. Just deal with it.

 

[Lesh]

Dems have tens of millions more votes....just to achieve a 50/50 split.

You understand that each state has its own senators, right?

I understand that the 50 Senators who represent Dem states represent tens of millions more Americans.

California with what...almost 40 million population has two Senators...Wyoming with less than a million has...yea two Senators

 

[Toddsterpatriot]

Yup. Inflation is actually the basis of our economic system...as long as it's not out of control.

It's why houses are affordable and why the government can only pay interest on the debt and not the debt itself.

Inflation reduces that debt. For instance we still carry the full cost of WWII on the books but it's virtually meaningless because of inflation

Yup. Inflation is actually the basis of our economic system...as long as it's not out of control.

+5% now.....is that out of control? What will it be after Biden wastes...err...invests $3.5 trillion?

It's why houses are affordable

A new home buyer thinks they're affordable because inflation?

and why the government can only pay interest on the debt and not the debt itself.

High inflation increases interest expenses.

 

[Lesh]

Your claim was that when someone takes a job with a lower salary than the one he had his debt goes up.

Quote me saying that.

Lowering revenue reduces your ability to pay your bills. You dispute that?

 

[Toddsterpatriot]

I understand that the 50 Senators who represent Dem states represent tens of millions more Americans.

And? Each state gets 2 senators, no matter how many live there.

It's a feature, not a bug.

 

[Nostra]

Quote me saying that.

Lowering revenue reduces your ability to pay your bills. You dispute that?

Easy. Here ya go, Moron

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

 

[Lesh]

+5% now.....is that out of control? What will it be after Biden wastes...err...invests $3.5 trillion?

Wrong. Several months of 5%. Yearly it is about 4% and neither is "out of control". It ain't great but it ain't disastrous. As far as going forward...tell us Nostrdufus...what will it be?

And note...Republicans have been screaming about "impending inflation" for 20 years.

 

[Lesh]

And? Each state gets 2 senators, no matter how many live there.

It's a feature, not a bug.

A feature if you're a republican...yea

 

[Toddsterpatriot]

A feature if you're a republican...yea

A feature in the Constitution.