Why don’t republicans seem to understand the consequences of tax cuts?

[Markle]

The revenue shortfall, you imbecile.

How is there a shortfall when revenues increased?

 

[Toddsterpatriot]

Toddy,

I made it clear from the outset...you don't know anything more than the slogans you've heard.

Accordingly, it is pointless to engage you.

Run away. LOL!

 

[Billy000]

Why doesn’t congress cut then?

I don’t know. What are you asking me for?

 

[healthmyths]

This is nonsense...

Take it up with these people who UNLIKE you, make their living working with inflation, GDP,etc... i.e. daily involvement why the economy! United States Inflation Rate - December 2022 Data - 1914-2021 Historical

 

[Lord Long Rod]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this means that there is less revenue to pay for spending. If bewilders me how republicans think you can cut taxes and think it doesn’t have consequences. We know it has consequences because the deficit blew up under Trump.

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

www.propublica.org

Oh and news flash: trickle down economics is not a real thing. Why would corporations bother investing in labor when it is easier for them to just keep the huge amount of money they save from tax cuts? After all their profits are already at an all time high.

United States Corporate Profits

Corporate Profits in the United States increased to 2803.20 USD Billion in the fourth quarter of 2023 from 2697.93 USD Billion in the third quarter of 2023. This page provides the latest reported value for - United States Corporate Profits - plus previous releases, historical high and low...

tradingeconomics.com

It's like watching your dog play with a laser for the first time. The dog thinks he has made the biggest discovery since sliced bread (a moving red dot on the floor), while the owner laughs at him and thinks "you dumbass!".

 

[Billy000]

It's like watching your dog play with a laser for the first time. The dog thinks he has made the biggest discovery since sliced bread (a moving red dot on the floor), while the owner laughs at him and thinks "you dumbass!".

Oh it’s only republicans too stupid to understand this. Everyone else does just fine!

 

[Lord Long Rod]

Decreasing tax burdens increases money for investment. Investment increases the number of taxation events, thereby enhancing federal revenue. JFK understood this. It is a known fact that lowering taxes (all types) makes our economy more prosperous and, thereby, increases tax revenue. This is a far more efficient and less adversarial system than leftists pointing their bony fingers at successful people and employers and falsely accusing them of not "paying their fair share", and fueling class warfare. If the federal government wants more tax revenue, then it should be doing everything it can to create a prospering private economy.

 

[Lord Long Rod]

Oh it’s only republicans too stupid to understand this. Everyone else does just fine!

I am not exactly sure what you mean by that. And if I am not sure, then I KNOW you don't know what the fuck you are talking about. LOL!

 

[22lcidw]

Grownups can grasp the difference between "revenues that would-have-been without the tax cuts" and "revenues". It's not difficult. A grade-schooler can grasp it, but every conservative on this thread fails at it. This illustrates why no conservative should be allowed near the presidency -- all conservatives fail at basic economics.

Bush tax cuts - Wikipedia

en.wikipedia.org

---
The non-partisan Congressional Budget Office has consistently reported that the Bush tax cuts did not pay for themselves and represented a sizable decline in revenue for the Treasury:

• The CBO estimated in June 2012 that the Bush tax cuts of 2001 (EGTRRA) and 2003 (JGTRRA) added approximately $1.5 trillion total to the debt over the 2002–2011 decade, excluding interest.
• The CBO estimated in January 2009 that the Bush tax cuts would add approximately $3.0 trillion to the debt over the 2010–2019 decade if fully extended at all income levels, including interest.
• The CBO estimated in January 2009 that extending the Bush tax cuts at all income levels over the 2011–2019 period would increase the annual deficit by an average of 1.7% GDP, reaching 2.0% GDP in 2018 and 2019.

---

This is where all conservatives now shriek that facts are a liberal conspiracy. Please, proceed. After all, when the facts contradict you, what else can you do?

So, you say that the peasant who is not in a privileged working-class employment situation should pay more and more. And retirees who are in the same situation also.

 

[The5thHorseman]

Run away. LOL!

Haven't I indulged you enough?

 

[The5thHorseman]

Take it up with these people who UNLIKE you, make their living working with inflation, GDP,etc... i.e. daily involvement why the economy! United States Inflation Rate - December 2022 Data - 1914-2021 Historical
View attachment 751383

The monthly rates don't compound.

 

[The5thHorseman]

How is there a shortfall when revenues increased?

Because Grifty spent the money faster.

 

[jc456]

I don’t know. What are you asking me for?

You’re whining

 

[ThisIsMe]

I find that it is almost always the scolds who add fuel to that fire.

Scold? What fuel. It was a simple observation…I don’t see where you are going with this. Either you agree that tax increases need to be met with spending cuts, or you agree that tax increases will solve the problems. I don’t agree with that. Tax increases, if they even make a dent in the problem, will be short lived, and I say “if” because, all that revenue they acquire, that they say they want to use for all these great projects ends up getting eaten up by other stuff.

 

[Billy000]

You’re whining

You whine on a daily basis lol

 

[Billy000]

I am not exactly sure what you mean by that. And if I am not sure, then I KNOW you don't know what the fuck you are talking about. LOL!

Umm okay.

 

[jc456]

You whine on a daily basis lol

I don’t eat crackers

 

[healthmyths]

The monthly rates don't compound.

And who compounded?
Compounding is a powerful investing concept that involves earning returns on both your original investment and on returns you received previously.

What is Compound Growth - Wells Fargo

Need help understanding compound interest? Find out more with these tips and a compounding interest calculator.

www.wellsfargo.com

I was finding what the AVERAGE inflation rate, nothing to do with "interest" i.e. compound interest!
Just simple taking the 12 months adding them together then dividing by 12 months to get the average inflation rate for the year!
Not to complicated. Now compound Interest is where you take say $1,000 and end of 1 month earn 5% on the $1,000 now you have $1,005.
Next month you earn another 5% and that is multiplied times $1,005 or $1,055, the next month earning 5% on $1,055 or total of $1,108.
That is compound interest and has nothing to do with the average inflation rate for a FACT under Biden for 2022 was 8.1%.
Not sure how you can make that complicated but hey here's another even simpler illustration.
Say you buy a pound of hamburger on 1st of Jan 2022 and paid Retail ground beef prices were at $4.80/lb
One month later at increase of 8.1% on 1st of Feb 2022 lb of beef now $5.184.
That simply means the American home owner pays 8% more than in Jan 2022. That's inflation!

 

[Toddsterpatriot]

Haven't I indulged you enough?

What was FY 2009 spending? How much was TARP?

 

[Toddsterpatriot]

And who compounded?
Compounding is a powerful investing concept that involves earning returns on both your original investment and on returns you received previously.

What is Compound Growth - Wells Fargo

Need help understanding compound interest? Find out more with these tips and a compounding interest calculator.

www.wellsfargo.com

I was finding what the AVERAGE inflation rate, nothing to do with "interest" i.e. compound interest!
Just simple taking the 12 months adding them together then dividing by 12 months to get the average inflation rate for the year!
Not to complicated. Now compound Interest is where you take say $1,000 and end of 1 month earn 5% on the $1,000 now you have $1,005.
Next month you earn another 5% and that is multiplied times $1,005 or $1,055, the next month earning 5% on $1,055 or total of $1,108.
That is compound interest and has nothing to do with the average inflation rate for a FACT under Biden for 2022 was 8.1%.
Not sure how you can make that complicated but hey here's another even simpler illustration.
Say you buy a pound of hamburger on 1st of Jan 2022 and paid Retail ground beef prices were at $4.80/lb
One month later at increase of 8.1% on 1st of Feb 2022 lb of beef now $5.184.
That simply means the American home owner pays 8% more than in Jan 2022. That's inflation!
View attachment 751398

Not to complicated. Now compound Interest is where you take say $1,000 and end of 1 month earn 5% on the $1,000 now you have $1,005.

Wrong.