Do tax cuts work?

[g5000]

And don't bring up the exemptions. lol you're such a fake.

So are you going to admit you were wrong now? Or are you going to do the tard routine of tripling down on your stupidity?

And I am still waiting for you to explain how the Fair Tax can be "modified" to benefit "big banks and hedge funds".

I am looking forward to a big belly laugh.

 

[g5000]

 

[g5000]

Here is the prebate in the bill I linked to above:

SEC. 301. FAMILY CONSUMPTION ALLOWANCE.

“Each qualified family shall be eligible to receive a sales tax rebate each month. The sales tax rebate shall be in an amount equal to the product of—
“(1) the rate of tax imposed by section 101, and
“(2) the monthly poverty level.

 

[Flash]

Well, that's one of the things I like about the Fair Tax. You can't raise it without everyone noticing immediately.

I bet if you asked 100 people what they paid in income taxes last year, 99 of them won't be able to tell you. They will only remember what their refund was, or how much they owed.

The problem is not how we collect taxes. No matter how we do it we will always have a mix of winners and losers. Changing the tax regs only changes the mix.

The problem is that the cost of government is astronomically high and we spend too much money.

 

[g5000]

When they get around to also taxing stock purchases by gamblers at 23% off the top, let us know, eh?

I provided a link to the Fair Tax bill. It has no exemptions for stock purchases.

Keep trying, ignoramus!

 

[g5000]

The problem is not how we collect taxes. No matter how we do it we will always have a mix of winners and losers. Changing the tax regs only changes the mix.

The problem is that the cost of government is astronomically high and we spend too much money.

No one ever talks about the biggest expenditure of all: Tax expenditures. They add up to $1.6 trillion a year.

By abolishing tax expenditures, we could not only balance the budget (without doing a single other thing), we could also lower tax rates for EVERYONE.

With the Fair Tax, hookers, pimps, drug dealers, and other black marketeers would not be able to escape paying taxes.

 

[skews13]

The reality is YES and the CBO proves it!
So why aren't we aware of it? Because the MSM donated 96% to Hillary, then they spent the next 4 years with 92% negative news about Trump and then donating 90% to Biden in 2020 while ABC,CBS,NBC donated $400 million in advertising time by spending 92% negative, vs. just 8% positive from July 29 through October 20 Broadcast networks deliver 92% negative coverage for Trump, 66% positive for Biden: Study
Also COVID was totally dominating the news because it made Trump look responsible.
And the daily news starting off with USA deaths, cases was constantly pounding Americans that it was Trump's fault!
Tomorrow Randi Weingarten, president of the American Federation of Teachers, testifies as to COVID's causing school closings and "follow the science" was so wrong as more kids are having mental/social problems than actually died from Covid. These "science" followers did seem to realize what I did when in 3/31/20 I started tracking more information then evidently she and all the Trump haters who used Covid to cost our country our freedoms!
Simply put as of 4/25/23 a total of 0.00242% of the 74.3 million kids under 18 died... 1,779! And for that Data from the 2021 Adolescent Behaviors and Experiences Survey (ABES) indicate that 37.1% of U.S. high school students reported poor mental health during the COVID-19 pandemic, with 19.9% considering and 9.0% attempting suicide in the preceding year (1).Oct 14, 2022 Adverse Childhood Experiences During the COVID-19 ....
In 2019, 15.3 million students enrolled in high school (9th to 12th grade)

101 American School Statistics: 2023 Data, Trends & Predictions | Research.com

All data points, statistics, trends, and predictions presented in this article have been gathered by Research.com team led by Imed Bouchrika, PhD. You are free to quote, share, and distribute the information here for ...

research.com

Consider that 9% attempted suicide... 1,377,000 9th to 12th graders attempted suicide... VS 1,779 deaths under 18!
This is truly the WORST example of politics superseding science. Politics being biased by MSM's totally blowing way out of proportion, encouraging school closings, stopping the economy in 2020! All for simple political hatred of Trump!
FACTS... Trump was only president to donate his 4 year salary of $ 1.6 million to charities!
TruView attachment 779658

View attachment 779653

Wrong. Tax cuts enacted since 1983, are single largest contributor to the national debt, and the destruction of the American middle class. Even Reagan’s economic advisor admits that now.

Everybody knows trickledown economics is failed policy.

Nice try on the snow job though.

How the U.S. Government Amassed $31 Trillion in Debt (Published 2023)

Two decades of tax cuts, recession responses and bipartisan spending fueled more borrowing — contributing $25 trillion to the total and setting the stage for another federal showdown.

www.nytimes.com

Two years after Trump tax cuts, middle-class Americans are falling behind

The White House's signature tax law has failed to halt the rise of inequality in the U.S., federal data show.

www.cbsnews.com

Two years after Trump tax cuts, middle-class Americans are falling behind

The White House's signature tax law has failed to halt the rise of inequality in the U.S., federal data show.

www.cbsnews.com

 

[healthmyths]

Folks... I've entered almost 27,000 messages in over 12 years and MOST, not all, MOST have links! Substantiation! NOT guesses. NOT my opinion, but FACTS. LINKS! So when any logical, rational person reads crap like CandyPorn, or this latest idiot, G5000, always remember...
THEY NEVER provide proof! They NEVER tell the whole story! They never substantiate! They guess! Like G5000, "Trump $8 trillion debt"!
NO proof, I proved... $6.7 Trillion not the LIE G5000..."$8 trillion"... THAT WAS OBAMA!!
So I've provided definitely more proof, substantiation, links then these two idiots for sure!
So I'm asking for advice. Do I continue providing these boring yawn, facts... or do I lie? Now obviously even these two idiots should say..
continue with FACTS... but if they do? Proves my contention!
Folks... do you live with reality, facts, the truth or zero?
Now for the record: I personally don't like Trump and his comments, his demeanor, his braggadocio attitude.
But folks... at 80 years old I've learned there are assholes like Trump that in spite of that..THEY GET THINGS DONE!
Most people don't know this but here is a FACT!
Repatriation!
This changed following the signing of the Tax Cuts and Jobs Act(TCJA) by President Donald Trump in late 2017. Once signed, the law cut the corporate repatriation tax, which is referred to as a transition tax, from that rate of 35%. It allowed U.S. companies to repatriate money earned overseas at 15.5% for any foreign earnings held in cash and cash equivalents and 8% for any foreign income that doesn't fall in this category.3
These changes could bring in as much as $340 billion between 2018 and 2027 in tax revenue.3 U.S. corporations repatriated $777 billion of cash stored overseas in 2018, according to the Federal Reserve.

Repatriation: Definition, With Currency Exchange and Example

Repatriation refers to converting any foreign currency into a country's local currency.

www.investopedia.com

Corporations have brought back more than $1 trillion of overseas profits to the U.S. since Congress overhauled the international tax system and prodded companies to repatriate offshore funds, a Thursday report showed.

U.S. companies have repatriated $1 trillion since tax overhaul

That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.

www.latimes.com

But most of the idiots complaining about Trump are just ignorant of the FACTS!
Trump's tax cuts brought $1 trillion+ to the USA economy of which $340 billion paid in taxes... the country would never received!
But more importantly you retards.... nearly $ 1 trillion is available to as most of you retards would do, bury in the backyard or hide under your mattress! But most intelligent people buy yachts, new homes, invest in new businesses ALL which create JOBS!
AGAIN you retards... where do you think that $1 trillion has gone?

AND AGAIN you retards... why didn't previous Presidents do what Trump did in pushing this tax cuts!
It is so simple... YOU tax more , the more the money flows offshore,lower the taxes and it stays in the USA!
It's that simple!

 

[g5000]

YOU are a liar! YOU have NO proof! YOU have NO LINKS!
Now for the FACTS!!! Where are YOUR facts?
At the end of fiscal year 2020, the debt was $26.9 trillion.
Trump added $6.7 trillion to the debt between fiscal year 2017 and fiscal year 2020,
a 33.1% increase, largely due to the effects of the coronavirus pandemic and 2020 recession.
DUMMY that is NOT $8 Trillion as you assumed with no proof!

NOW for more facts you dummy!!!
Obama ADDED $8.6 Trillion you idiot! That is $8.6 Trillion you stupid idiot!
President Obama added about $8.6 trillion, about a 74% increase, to the national debt at the end of President Bush’s last budget in 2009.
Over two times more DEBT by Obama vs Trump!

U.S. National Debt by President

Check out how the national debt has increased by year and president. Depending on how you measure it, the answers may differ.

www.thebalancemoney.com

FACTS not guesses!
BIDEN!!!
America’s total national debt surpassed $31 trillion for the first time on Oct. 3,
Read more at: https://www.miamiherald.com/news/nation-world/national/article266851596.html#storylink=cpy
NOW you idiot! An increase of $4.1 trillion in just 2 years! At that rate of $ 2 trillion a year.. $8 Trillion in 4 years. versus Trump $6.7 Trillion!
The debt TODAY is $31 trillion under Biden...
Based on Biden's increase in 2 more years it will be 33 Trillion.. and increase of over $ 8 trillion under Biden. Under Trump it was $26.9 trillion

https://www.miamiherald.com/news/nation-world/national/article266851596.html

View attachment 797940

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years

The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.

www.propublica.org

The national debt has risen by almost $7.8 trillion during Trump’s time in office. That’s nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.

The growth in the annual deficit under Trump ranks as the third-biggest increase, relative to the size of the economy, of any U.S. presidential administration, according to a calculation by a leading Washington budget maven, Eugene Steuerle, co-founder of the Urban-Brookings Tax Policy Center. And unlike George W. Bush and Abraham Lincoln, who oversaw the larger relative increases in deficits, Trump did not launch two foreign conflicts or have to pay for a civil war.

 

[g5000]

US Debt by President | Chart & Per President Deficit | Self.

Here’s how much each President has contributed to National Debt, including decisions, events and statistics.

www.self.inc

• During Donald Trump’s whole presidency, the U.S. national debt increased by $8.18 trillion, a percentage increase of 40.43%. This is less than Barack Obama (69.98%) and George W. Bush (105.8%). However, Donald Trump was in office for only 4 years compared to 8 years for both Barack Obama and George W. Bush.

Gosh, Trump added $8,180,000,000,000 to the debt in HALF the time it took Obama!

That $1.6 million he donated will really make a difference.

What a guy.

 

[healthmyths]

Wrong. Tax cuts enacted since 1983, are single largest contributor to the national debt, and the destruction of the American middle class. Even Reagan’s economic advisor admits that now.

Everybody knows trickledown economics is failed policy.

Nice try on the snow job though.

How the U.S. Government Amassed $31 Trillion in Debt (Published 2023)

Two decades of tax cuts, recession responses and bipartisan spending fueled more borrowing — contributing $25 trillion to the total and setting the stage for another federal showdown.

www.nytimes.com

View attachment 797957

View attachment 797958

Two years after Trump tax cuts, middle-class Americans are falling behind

The White House's signature tax law has failed to halt the rise of inequality in the U.S., federal data show.

www.cbsnews.com

Two years after Trump tax cuts, middle-class Americans are falling behind

The White House's signature tax law has failed to halt the rise of inequality in the U.S., federal data show.

www.cbsnews.com

YOUR source: CBSNEWS! Way to go prove these people didn't show 2020, 2021!
And guess what... those deficits occurred UNDER OBAMA!!! LOOK... It takes a year for a new administration to overhaul the previous especially when the previous Obama admininistration (DUE to his dumb ass 1995 lawsuit that caused the 2008 recession.. FACT:

Subprime Bubble: Obama 'Vampire Socialism' Built It​

The Daily Caller has obtained and analyzed previously unpublished court documents relating to a class-action lawsuit filed in 1995 by young attorney Barack Obama on behalf of three lead plaintiffs and 180 subsidiary plaintiffs against Citibank for alleged discrimination in lending practices.Obama's lawsuit was one element of a national 'anti-redlining' campaign led by Chicago's progressive groups, who argued that banks unfairly refused to lend money to people living within so-called 'red lines' around African-American communities."
It was the progressive dreams of Barack Obama that would crash the nation's economy in 2008, wipe out at least $4 trillion in equity and help keep the unemployment rate above 8% for four years.

As president, Obama would blame his predecessor, George W. Bush, and Wall Street. But before the housing market finally collapsed, it was a young lawyer named Barack Obama who helped put the wrecking ball in motion.

Subprime Bubble: Obama 'Vampire Socialism' Built It

Housing Crisis: Previously unpublished court documents reveal that as a young lawyer from Chicago, President Obama's lawsuit against big banks started inflating the housing bubble that created the mess he... Read More

www.investors.com

 

[healthmyths]

US Debt by President | Chart & Per President Deficit | Self.

Here’s how much each President has contributed to National Debt, including decisions, events and statistics.

www.self.inc

• During Donald Trump’s whole presidency, the U.S. national debt increased by $8.18 trillion, a percentage increase of 40.43%. This is less than Barack Obama (69.98%) and George W. Bush (105.8%). However, Donald Trump was in office for only 4 years compared to 8 years for both Barack Obama and George W. Bush.

Gosh, Trump added $8,180,000,000,000 to the debt in HALF the time it took Obama!

That $1.6 million he donated will really make a difference.

What a guy.

YOUR source:US Debt by President | Chart & Per President Deficit | Self.

US debt surged by $7 trillion under Trump. It will go much higher under Biden​

https://www.cnn.com/2021/01/14/business/biden-stimulus-debt-trump/index.html

Now YOU explain to me how come the biggest enemy of Trump in news networks would say "Surged" by $7 trillion" and yet Self.inc..
not a news organization but a lender???

 

[g5000]

YOUR source:US Debt by President | Chart & Per President Deficit | Self.

US debt surged by $7 trillion under Trump. It will go much higher under Biden​

https://www.cnn.com/2021/01/14/business/biden-stimulus-debt-trump/index.html

Now YOU explain to me how come the biggest enemy of Trump in news networks would say "Surged" by $7 trillion" and yet Self.inc..
not a news organization but a lender???

Gee, I guess that $1.6 million really had an impact!

 

[healthmyths]

Gee, I guess that $1.6 million really had an impact!

Well since you like the biased MSM ONLY comment about your biased position which by the way personally as I've reiterated I don't like
Trump personally. I think he is a braggart Queens nouveau riche asshole. But unlike YOU I looked beyond that and saw as my life experiences
that some ASSHOLE bosses get things done...as Trump did. Tell me why do you think only 2 other presidents donated their salaries as Trump?
In the other two cases they like Trump didn't need the salary. But Trump loves America, Americans, the military, law enforcement and making
money! Trump's business acumen as exhibited by his recognition by over 1 billion people through the "Apprentice".."YOU'RE FIRED"... because things didn't get done! The political quagmire of D.C. was too much even for Trump... as you and your other non-thinking minions want a president who is a nice guy! Like the pedophile we have today and his prostitute paying, druggie son!
So as I see it, you just go for the images that the biased MSM put out... Trump bad guy... Biden good guy. Simple for people like you evidently that can't handle the fact that while an asshole Trump got things done!

 

[Mr Natural]

Well, when they cut taxes, people have more money to spend which brings down inflation.

 

[g5000]

Well since you like the biased MSM ONLY comment about your biased position which by the way personally as I've reiterated I don't like
Trump personally. I think he is a braggart Queens nouveau riche asshole. But unlike YOU I looked beyond that and saw as my life experiences
that some ASSHOLE bosses get things done...as Trump did. Tell me why do you think only 2 other presidents donated their salaries as Trump?
In the other two cases they like Trump didn't need the salary. But Trump loves America, Americans, the military, law enforcement and making
money! Trump's business acumen as exhibited by his recognition by over 1 billion people through the "Apprentice".."YOU'RE FIRED"... because things didn't get done! The political quagmire of D.C. was too much even for Trump... as you and your other non-thinking minions want a president who is a nice guy! Like the pedophile we have today and his prostitute paying, druggie son!
So as I see it, you just go for the images that the biased MSM put out... Trump bad guy... Biden good guy. Simple for people like you evidently that can't handle the fact that while an asshole Trump got things done!

Trump loves America so much, he added $8 trillion of debt.

Trump loves America so much, he tried to overthrow the Constitution and our democracy.

Oh...that "You're Fired" gimmick? Sure, he did it on a GAME SHOW, but never once had the balls to fire anyone to their face when he was President. Never have we had such a cowardly idiot in the Oval Office, and that is really saying something.

 

[maybelooking]

every single time.

 

[SaxonJackson]

Do tax cuts work?​

They work great for me.

 

[BluesLegend]

Trump loves America so much, he tried to overthrow the Constitution and our democracy.

A lie, go to confession.

 

[LAUGHatLEFTISTS]

They increase deficits and debt

Sure they do stoner. Sure they do.