Former Fed Chair Janet Yellen Says Tax Cuts Are Blowing Up the Budget

Sampson Simpson said:

What is stunning, actually, its not, its par for the course of most conservatives, is your lack of any arguments what so ever. Do you realize how stupid you look when all you do is say "err, you are wrong" and then follow with a pathetic deflection to Obama, and offer not a single shred of argument why the person you responded to was wrong or you are right. My god, the idiocy of so many conservatives know no bounds

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Winston said:

I hate to say, I told you so, but, you can dig up old threads of mine, where I told you so.

I would like an admission from conservatives that the timing of this tax cut and the severity of it, will lead to less revenue. It's a simple and true statement. This tax cut will not spur enough growth to offset the cost of the relaxed rates. It's easy to admit and true enough.

If we can get past that simple admission, it should save everyone, oh, 10-20 pages of bickering about Reagan, Obama, and Bush, the tax rates under those presidencies and the consequences to federal revenue. We aren't dealing in the past, which has a spotty record anyway, on delivering equal or more revenue after a tax cut.

The tax cut we just witnessed will cost the government a lot of money. And the GOP will likely go after entitlements next, and call it "reform". It's a perfectly consistent argument as a conservative to make, that you don't care because you want a smaller government anyway. But, just know that all you lifelong GOP voters are about to take advantage of Medicare and the like, and if I were you I would want it fully funded and operational.

Discuss..

link: https://www.msn.com/en-us/money/markets/yellen-says-tax-cuts-are-blowing-up-the-budget/ar-AAvGcG4

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Oborosen said:

I would also like to point out. That no doctor I current know of or work with is really willing to even look at Medicare. Much less go near it with a 10foot pole.

My facility alone gets around 70% of its insurance proved through Medicare and the pay is sub par on a level that I haven't seen in this industry in almost a decade.

I would argue for finding a more viable replacement.

A majority of these systems are so broken that no one is willing to fix them and each administration just shovels the issue onto the next when they get the first chance.

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Floridafan said:

In all the years my wife and I have been on medicare, NOT ONCE has any doctor refused to accept it.

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Winston said:

I hate to say, I told you so, but, you can dig up old threads of mine, where I told you so.

I would like an admission from conservatives that the timing of this tax cut and the severity of it, will lead to less revenue. It's a simple and true statement. This tax cut will not spur enough growth to offset the cost of the relaxed rates. It's easy to admit and true enough.

If we can get past that simple admission, it should save everyone, oh, 10-20 pages of bickering about Reagan, Obama, and Bush, the tax rates under those presidencies and the consequences to federal revenue. We aren't dealing in the past, which has a spotty record anyway, on delivering equal or more revenue after a tax cut.

The tax cut we just witnessed will cost the government a lot of money. And the GOP will likely go after entitlements next, and call it "reform". It's a perfectly consistent argument as a conservative to make, that you don't care because you want a smaller government anyway. But, just know that all you lifelong GOP voters are about to take advantage of Medicare and the like, and if I were you I would want it fully funded and operational.

Discuss..

link: https://www.msn.com/en-us/money/markets/yellen-says-tax-cuts-are-blowing-up-the-budget/ar-AAvGcG4

Click to expand...

Fraggle Rock said:

I second it. These Conservatives have been handed a belief that Medicare sucks.....find some people that are on it that say that. As far as Dr's are concerned I give my Doc's $100 bucks at Christmas....realizing that Medicare is a little under paying.....I am able to do it so I do....

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Winston said:

I hate to say, I told you so, but, you can dig up old threads of mine, where I told you so.

I would like an admission from conservatives that the timing of this tax cut and the severity of it, will lead to less revenue. It's a simple and true statement. This tax cut will not spur enough growth to offset the cost of the relaxed rates. It's easy to admit and true enough.

If we can get past that simple admission, it should save everyone, oh, 10-20 pages of bickering about Reagan, Obama, and Bush, the tax rates under those presidencies and the consequences to federal revenue. We aren't dealing in the past, which has a spotty record anyway, on delivering equal or more revenue after a tax cut.

The tax cut we just witnessed will cost the government a lot of money. And the GOP will likely go after entitlements next, and call it "reform". It's a perfectly consistent argument as a conservative to make, that you don't care because you want a smaller government anyway. But, just know that all you lifelong GOP voters are about to take advantage of Medicare and the like, and if I were you I would want it fully funded and operational.

Discuss..

link: https://www.msn.com/en-us/money/markets/yellen-says-tax-cuts-are-blowing-up-the-budget/ar-AAvGcG4

Click to expand...

CBO

That pattern of deficits is expected to occur mainly
because, under current law, revenues and outlays would
grow at different rates. Revenues would be roughly flat
as a percentage of GDP over the next several years before
rising steadily in the second half of the period. In contrast,
outlays would increase in most years through 2028

Growth of Outlays. Total outlays are projected to rise
over the projection period, boosted by increased spending
for net interest costs and large benefit programs

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