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Thread: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by Winston View Post
    Buckle up for another 4 years of crushing deficits. Republicans repeat the fallacy that cutting taxes increases revenue and will undoubtedly use that to extract more money out of our economy. ....
    Trump's "tax plan", read "Lollipop", promises to dramatically Increase the deficit according to ALL scorers left and right, even those assuming larger growth/"dynamic scoring."

    President Donald Trump's Tax Plan Won't Pay For Itself | Money
    No, Trump’s Tax Cuts Won’t Pay for Themselves
    Ian Salisbury - Time.com
    Jan 20, 2017

    "..All four of the groups concluded Trump's tax plan would Fail to pay for itself. Projected deficits ranged from $2.6 trillion (in the most optimistic estimate from the Tax Foundation) to more than $10 trillion for Moody's."..."

    Trickle that.
    I'm personally sick of not being able to dunk a basketball because of racism.
    anon

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by jonny5 View Post
    I get income from selling my labor. MY labor.
    Right, and that income comes from other people spending their income to hire your labor.

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by Incisor View Post
    Right, and that income comes from other people spending their income to hire your labor.
    Truth. What I'm trying to illustrate to people is that massive cuts to government kneecaps the economy. Cutting social security to pay for rich people's tax cuts is one of the most evil policies that comes to mind. Right wingers love to yammer on about "wealth redistribution" A minimum wage increase is "wealth redistribution" Well, what do they think it is when Paul Ryan cuts Social Security?

    Forbes Welcome

    If seniors were getting 10% more in their SSC checks, then they cut it and they get 10% less, then they're spending 10% less. Rich people get the tax cuts they wanted. And that extra money sits in the S&P mocking Main St.

    If you cut education, and a school lays off 20% of it's workforce, what were people with decent jobs are now unemployed or working at a gas station. It actually costs taxpayers money to cut government that generates revenue. What we're saying is the initial CUT to the department costs you government revenue. It costs you money to allow rich people to get richer. But, who are we to tell rich people they can't have a 3rd and 4th dessert??
    Quote Originally Posted by Mac77 View Post
    It could add fuel to the leftwing attacks on cops that was started by obama when he was president

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by Winston View Post
    Truth. What I'm trying to illustrate to people is that massive cuts to government kneecaps the economy. Cutting social security to pay for rich people's tax cuts is one of the most evil policies that comes to mind. Right wingers love to yammer on about "wealth redistribution" A minimum wage increase is "wealth redistribution" Well, what do they think it is when Paul Ryan cuts Social Security?

    Forbes Welcome

    If seniors were getting 10% more in their SSC checks, then they cut it and they get 10% less, then they're spending 10% less. Rich people get the tax cuts they wanted. And that extra money sits in the S&P mocking Main St.

    If you cut education, and a school lays off 20% of it's workforce, what were people with decent jobs are now unemployed or working at a gas station. It actually costs taxpayers money to cut government that generates revenue. What we're saying is the initial CUT to the department costs you government revenue. It costs you money to allow rich people to get richer. But, who are we to tell rich people they can't have a 3rd and 4th dessert??
    You're trying to put one puzzle together using pieces from many different puzzles. That doesn't work.

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by Critter7r View Post
    Right, so someone else's spending is your income. And their income was someone else's spending. And when you buy someone else's labor (when you spend money), that becomes their income. And on and on. Your income becomes your spending and then becomes someone else's income.
    Right, mine. Thats the point. It does best when I spend it, not a 3rd party.

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by Winston View Post
    Truth. What I'm trying to illustrate to people is that massive cuts to government kneecaps the economy. Cutting social security to pay for rich people's tax cuts is one of the most evil policies that comes to mind. Right wingers love to yammer on about "wealth redistribution" A minimum wage increase is "wealth redistribution" Well, what do they think it is when Paul Ryan cuts Social Security?
    Forbes Welcome
    If seniors were getting 10% more in their SSC checks, then they cut it and they get 10% less, then they're spending 10% less. Rich people get the tax cuts they wanted. And that extra money sits in the S&P mocking Main St.
    If you cut education, and a school lays off 20% of it's workforce, what were people with decent jobs are now unemployed or working at a gas station. It actually costs taxpayers money to cut government that generates revenue. What we're saying is the initial CUT to the department costs you government revenue. It costs you money to allow rich people to get richer. But, who are we to tell rich people they can't have a 3rd and 4th dessert??
    Not only do you lose the jobs to the education cuts, but those cuts force state universities and colleges to raise tuition, which then results in more student loan borrowing.

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by jonny5 View Post
    Right, mine. Thats the point. It does best when I spend it, not a 3rd party.
    No one is saying otherwise. But the fact remains that your income is my spending and my spending is your income. There is no compensatory increase in demand filled by the private sector if government spending is cut. In fact, aggregate demand becomes weakened because you've removed government demand from the equation and haven't made it up with an equal or greater increase in spending by the private sector. Correct me if I'm wrong, but isn't that the intent of the tax cuts...at least how they're sold? That private sector spending will increase if government spending is cut? Otherwise, you end up contracting the economy...which is a recession.

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by Incisor View Post
    No one is saying otherwise. But the fact remains that your income is my spending and my spending is your income. There is no compensatory increase in demand filled by the private sector if government spending is cut. In fact, aggregate demand becomes weakened because you've removed government demand from the equation and haven't made it up with an equal or greater increase in spending by the private sector. Correct me if I'm wrong, but isn't that the intent of the tax cuts...at least how they're sold? That private sector spending will increase if government spending is cut? Otherwise, you end up contracting the economy...which is a recession.
    I have to earn it for govt to spend it, as you say, so might as well cut out the middle man. And its not neccesarily about spending increasing, but efficiency. Private sector has greater efficiency, therefore a dollar spent by private sector is a greater economic activator than a dollar filtered through the bureacracy.

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by jonny5 View Post
    I have to earn it for govt to spend it, as you say, so might as well cut out the middle man.
    And the business that employs you has to collect the revenues in order for you to "earn" anything. And those revenues come from spending. At the end of the day, the cashier at Best Buy doesn't care from where you got the money to buy a new TV. They just care if you can pay for it. You seem to think income just appears out of thin air. It doesn't. Before it gets to you, it goes round and round in the economy.


    And its not neccesarily about spending increasing, but efficiency. Private sector has greater efficiency
    Yeah, I don't buy that. In fact, one of your compatriots on these boards put forth a link that showed the US health care system's inefficiency was among the worst of 11 First World Nations. Since most people get their insurance through private companies, wouldn't that mean that the private sector doesn't have greater efficiency? And you seem to be conflating "efficiency" with "quality", when the two are mutually exclusive. I'm fully interested to hear how you can make the delivery of health care to senior citizens more efficiently in the private market than through Medicare. In fact, wasn't the whole reason we got Medicare was because of how inefficient private insurers were at providing access to care for elderly folks in the first place? I don't understand this mantra that private sector has greater efficiency. Ever work at a large, multinational corporation before? They're not efficient and have tons of redundancy.


    Private sector has greater efficiency, therefore a dollar spent by private sector is a greater economic activator than a dollar filtered through the bureacracy.
    No, they would have the same "activator" because a dollar is a dollar. It doesn't have less value if it's paid to a government worker vs. a private sector worker. The cashier at Best Buy at the end of the day does not care if you are a government employee or a private-sector employee. All they care about is if you have the cash to purchase whatever it is you're there to buy.

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    Re: Trump's Tax Cuts Expected to Generate Federal Revenue: Won't

    Quote Originally Posted by Moderate Right View Post
    You're trying to put one puzzle together using pieces from many different puzzles. That doesn't work.
    Using your puzzle analogy, he's showing that the US gov't is working simultaneously on two-hundred-seventy-eight 1,000-piece puzzles, and you're concerned that a couple pieces from 10% of the puzzles are being set in the wrong spot. While 90% of puzzles are going together just fine.
    I'm not going to chase you while you run around with the goalpost in your arms.

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