Trump budget would spike deficits by nearly 5 times Harris proposal, says Penn Wharton

[john doe 101]

I think that the word inflation is overused for too many things. It should be limited to Dollar erosion but unfortunately we also use it to describe currency distribution and density. We definitely want to eliminate dollar erosion but not currency distribution when it is needed.

You just can't admit trump is wrong about anything

 

[justoffal]

You just can't admit trump is wrong about anything

Trump?....I don't give a crap what he's right or wrong about.
His intentions are clear:
1.) Get out of NATO
2.) Rejuvenate the energy Market so people can pay their light bills
3.)Get back out of the Paris accord.
4.) Get government's boot off of business necks.

 

[john doe 101]

Trump?....I don't give a crap what he's right or wrong about.
His intentions are clear:
1.) Get out of NATO
2.) Rejuvenate the energy Market so people can pay their light bills
3.)Get back out of the Paris accord.
4.) Get government's boot off of business necks.

You don't care if he's wrong. Brilliant.

 

[justoffal]

Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model.

The Trump report found that his plan to permanently extend the 2017 tax cuts would add over $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion.

The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.

But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.
https://www.cnbc.com/2024/08/27/trump-harris-budget-deficit-economy-election.html

Don lives for the now. He wants the kind of adulation associated with a strong economy (the kind Biden never got) coming from the stimulative affect of a tax cut. Just like in his first term. One wonders if he'll claim a tax cut will cause a reduction in the deficit as he did last time. It's a promise Repubs frequently make, never coming to fruition.

Note to Don's minions: don't assassinate the character of the guy who authored the study. If you can find fault with his methodology, fine. Just don't waste time with ad hominem attacks.

Raising the corporate tax is a complex action. I can find fault with this methodology right now.

He is foolishly assuming it will have no counter motion; Foolishly assuming that corporations will simply pay the tax hike and take a diminshed bottom line.

The best I can say for him is that he's clueless besides being biased.

 

[Missouri_Mike]

Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model.

The Trump report found that his plan to permanently extend the 2017 tax cuts would add over $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion.

The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.

But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.
https://www.cnbc.com/2024/08/27/trump-harris-budget-deficit-economy-election.html

Don lives for the now. He wants the kind of adulation associated with a strong economy (the kind Biden never got) coming from the stimulative affect of a tax cut. Just like in his first term. One wonders if he'll claim a tax cut will cause a reduction in the deficit as he did last time. It's a promise Repubs frequently make, never coming to fruition.

Note to Don's minions: don't assassinate the character of the guy who authored the study. If you can find fault with his methodology, fine. Just don't waste time with ad hominem attacks.

If you don’t vote for the democrat to take more of your money through higher taxes the deficit will go up! That’s a hell of a sales pitch. How about they cut spending?

 

[justoffal]

If you don’t vote for the democrat to take more of your money through higher taxes the deficit will go up! That’s a hell of a sales pitch. How about they cut spending?

The methodology used in the pitch is about 50% bullshit anyway.

 

[Missouri_Mike]

The methodology used in the pitch is about 50% bullshit anyway.

I just don’t get what they think they’re selling us on. Gives your fucking money or we bankrupt the country really fast instead of a little slower since there’s no way we’re going to stop spending.

 

[justoffal]

I just don’t get what they think they’re selling us on. Gives your fucking money or we bankrupt the country really fast instead of a little slower since there’s no way we’re going to stop spending.

Yeah....stupid

 

[Fort Fun Indiana]

Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model.

The Trump report found that his plan to permanently extend the 2017 tax cuts would add over $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion.

The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.

But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.
https://www.cnbc.com/2024/08/27/trump-harris-budget-deficit-economy-election.html

Don lives for the now. He wants the kind of adulation associated with a strong economy (the kind Biden never got) coming from the stimulative affect of a tax cut. Just like in his first term. One wonders if he'll claim a tax cut will cause a reduction in the deficit as he did last time. It's a promise Repubs frequently make, never coming to fruition.

Note to Don's minions: don't assassinate the character of the guy who authored the study. If you can find fault with his methodology, fine. Just don't waste time with ad hominem attacks.

Wait!

Isn't that the University where Trump said the professors all told him how great his plan was?

DID TRUMP LIE OR SOMETHING

 

[Fort Fun Indiana]

I just don’t get what they think they’re selling us on. Gives your fucking money or we bankrupt the country really fast instead of a little slower since there’s no way we’re going to stop spending.

Now run along and vote for the guy who will do that ×5.

 

[Foxfyre]

Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model.

The Trump report found that his plan to permanently extend the 2017 tax cuts would add over $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion.

The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.

But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.
https://www.cnbc.com/2024/08/27/trump-harris-budget-deficit-economy-election.html

Don lives for the now. He wants the kind of adulation associated with a strong economy (the kind Biden never got) coming from the stimulative affect of a tax cut. Just like in his first term. One wonders if he'll claim a tax cut will cause a reduction in the deficit as he did last time. It's a promise Repubs frequently make, never coming to fruition.

Note to Don's minions: don't assassinate the character of the guy who authored the study. If you can find fault with his methodology, fine. Just don't waste time with ad hominem attacks.

If that is truly a Penn Wharton article, absolutely nobody should EVER go there for education. They not only know nothing about economics but they're dishonest as well. Trump's tax reform not only put a lot of money into almost everybody's pockets but tax revenues increased substantially because of great economic activity. His tax reforms did not increase the deficit--that would be excessive spending that did that courtesy of mostly the Democrats--nor will his proposed tax reforms for his next administration likely increase the deficit at all.

Penn Wharton should be honest and admit that it is spending more than revenues received that creates deficits, not tax cuts.

 

[Missouri_Mike]

Now run along and vote for the guy who will do that ×5.

At least there’s a chance he will build an economy to handle that spending or cut the actual spending. There’s no chance either of those will happen with Camela.

 

[Fort Fun Indiana]

At least there’s a chance he will build an economy to handle that spending or cut the actual spending.

Yes, as evidenced by his history of losing big money in business and his history of bankruptcy and of running the US economy into the ground while he was president.

 

[Missouri_Mike]

Yes, as evidenced by his history of losing big money in business and his history of bankruptcy and of running the US economy into the ground while he was president.

He had a better economy than we do now. That’s why you’re losing.

 

[otto105]

If that is truly a Penn Wharton article, absolutely nobody should EVER go there for education. They not only know nothing about economics but they're dishonest as well. Trump's tax reform not only put a lot of money into almost everybody's pockets but tax revenues increased substantially because of great economic activity. His tax reforms did not increase the deficit--that would be excessive spending that did that courtesy of mostly the Democrats--nor will his proposed tax reforms for his next administration likely increase the deficit at all.

Penn Wharton should be honest and admit that it is spending more than revenues received that creates deficits, not tax cuts.

Show your proof of the assertion that Fat Elvis’ tax cut law grew tax revenues greatly

Internet economist.

 

[Fort Fun Indiana]

He had a better economy than we do now.

Until he rode the Obama economy into the ground.

 

[Missouri_Mike]

Until he rode the Obama economy into the ground.

Bitch please.

 

[otto105]

Bitch please.

Yes, straight into the ground.

 

[SmokeALib]

The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.

But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.

Yeah, let's jack up the corporate tax rate. Those big bad corporations. All they do is what - employ taxpayers? Fuking idiots.

 

[Fort Fun Indiana]

"“I went to the Wharton School of Finance, and many of the professors, the top professors, think my plan is a brilliant plan,” Trump said."