The Gop tax cut has a small role, but mostly it's the spending. To those who think we can 'tax ' our way of this, the chart should disabuse you of that naive notion.
The Trump tax cuts are estimated to have reduced federal revenues by roughly $230 billion already, and by $2.3 trillion over ten years.
Worse, there is no sign that either the Trump administration or congressional Republicans get it. The Trump administration continues to rely on growth projections that are considerably higher than those of the Congressional Budget Office or independent analysts. The administration also ignores warnings that the trade war it is pursuing could reduce U.S. GDP by hundreds of billions of dollars per year. Nor does the administration consider that the increase in debt will itself reduce economic growth.
The Gop tax cut has a small role, but mostly it's the spending. To those who think we can 'tax ' our way of this, the chart should disabuse you of that naive notion.
Why is that? The chart says nothing at all about our ability to raise taxes and at least reduce the deficit. What it does show is in the presence of predicted deficits for as far as the eye can see, the GOP cut revenues and did nothing to reduce spending, thus making the deficits worse.
Raising taxes obviously benefits you or you wouldn't have this passion so tell us how you are benefiting from higher taxes because higher taxes don't increase economic activity and hurts states and local governments? Tell me the Trump budget doesn't propose reduced spending?
LOL, what I love about you is your consistency. Once again, you completely ignore my point to beat straw men and repeat worn out talking points. :roll:
Where did you come up with this nonsense? Did one of your kids finally show you how to use photoshop?
Even the right-wing CATO institute knows better than this.
https://www.cato.org/publications/commentary/budget-deficits-are-only-getting-bigger-under-trump
They're still wrong about a bunch of other nonsense, but if you can't even get a right wings source like them to support your lie then you know it's a really bad lie.
the mistake that you're making is that you're in real reality using actual facts and logic. there is an alternate reality in which you just make **** up, and when you say it out loud, it becomes automatically true. stuff like "massive tax cuts don't increase the deficit! they pay for themselves."
see? there you go. now it's alternatively true!
How you coming on providing Treasury data to support your claims that tax cuts cause massive deficits or are you so married to the federal bureaucrats that you buy that they need the money more than you and your family? Interesting how allowing people to keep more of their own money bothers you so much and how you believe that giving more to the govt. will be used for deficit reduction? Oh, by the way where does the state and local governments get their money when more goes to the federal bureaucrats in tax revenue?
I they all just watched one CNN panel and now think that they're all accredited finance analyst.
You will notice that you never get data from the left and nothing will ever change their mind. People keeping more of what they earn truly bothers the left as it costs them power. People keeping more of what they earn means they need the radical left less. They will always run when confronted but always come back with the same arguments over and over again normally on different threads, right out of the leftwing playbook.
Not one Democrat can offer a valid reason to support a Democrat in the Midterms as Trump isn't on the ballot but his economic policies and record is. When asked to explain what in that record bothers the left you get nothing but threads like this one blaming tax cuts for deficits when there were 4 straight years of trillion dollar deficits under Obama. They have nothing but hatred, divisiveness, class envy, jealousy and stand for nothing other than creating more dependence and giving the bureaucrats in D.C. more money to spend taking it from the states and local communities
Obama raised taxes and was still running trillion dollar deficits. The deficit didn't go down until they went into sequestering and basically froze all spending and cut spending back.
the problem is our government continues to spend more and more money with no reduction in government costs or revamping programs to cut back on cost.
honestly we need a full audit of every department and slam these people for embezzlement really and misuse of government funds.
Again your chart it pretty but tells us nothing and you ignore that the Obama deficits are included in those large Blue increases and exceed the Bush deficits or can't you read your own chart? for some reason you believe declining deficits that were still higher than any under Bush is a good thing showing again just how partisan you are and how you are unable to even read the charts. 2019-2020 are PROJECTIONS!!
I believe that GW Bush was president in 2008. Look at that syrocketing deficit, up to $1.4 trillions. Facts are facts, and you continue to ignore them.
The Gop tax cut has a small role, but mostly it's the spending. To those who think we can 'tax ' our way of this, the chart should disabuse you of that naive notion.
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Yes he was and was President 7 years prior but that reality is ignored. I am still waiting for you to explain how Bush without a budget for 2009 created that deficit with ZERO spending authority?? Please stop sounding like a fool here and learn the difference between deficit and debt. The BUSH PROPOSED budget was REJECTED and the 2009 budget was signed by Obama in March yet you blame Bush for the 2009 deficit. Was the Obama 842 billion stimulus, Bush's? What the take over of GM/Chrysler Bush's? Was the recycling of TARP Bush's? Was the AIT bailout Bush's? Was the Afghanistan Supplemental Bush's? At least try to be honest on this issue instead of solely partisan
The reason is the same as its always been, social spending, which now consumes 3 trillion of revenue. Thats 90% of every dollar collected.
Back in 2008, by best friend, a staunch Conservative like yourself, and I had a discussion. We agreed that things were so screwed up, that whoever won the election, McCain or Obama, would have a very rough 4 years. Cheney/Bush --- worst presidential pass-on since the Great Depression. Once Obama fixed the Cheney/Bush fiasco, the deficit dropped very nicely under him. Now it is skyrocketing again, under Trump.
The reason is the same as its always been, social spending, which now consumes 3 trillion of revenue. Thats 90% of every dollar collected.
Yes things were screwed up and it was done by BOTH the Democrats and the Republicans not just Bush. I see no evidence that it would take four years to clean up that mess as that is what TARP did in recapitalizing the banks and the recession ended in June, a recession that affected fewer Americans than any other recession in history. There was no GREAT RECESSION but rather a marketing tool by the Democrats that you bought but none of this addresses the issue of the deficits which you continue to want to blame on Bush. Deficits are not inherited they are created and Bush didn't have the authority to create those deficits you blame on him.
Further declining deficits that created 9.3 TRILLION in debt isn't something to be touted and celebrated like you are trying to do. We pay debt service on DEBT not DEFICITS and dropping deficit that created the 9.3 trillion dollar debt by your standards could have been worse and that is what you want to ignore as if the 9.3 trillion isn't that bad. That 9.3 trillion is more debt than Reagan, GHW and GW Bush combined in 20 years.
Yes things were screwed up and it was done by BOTH the Democrats and the Republicans not just Bush. I see no evidence that it would take four years to clean up that mess as that is what TARP did in recapitalizing the banks and the recession ended in June, a recession that affected fewer Americans than any other recession in history. There was no GREAT RECESSION but rather a marketing tool by the Democrats that you bought but none of this addresses the issue of the deficits which you continue to want to blame on Bush. Deficits are not inherited they are created and Bush didn't have the authority to create those deficits you blame on him.
Further declining deficits that created 9.3 TRILLION in debt isn't something to be touted and celebrated like you are trying to do. We pay debt service on DEBT not DEFICITS and dropping deficit that created the 9.3 trillion dollar debt by your standards could have been worse and that is what you want to ignore as if the 9.3 trillion isn't that bad. That 9.3 trillion is more debt than Reagan, GHW and GW Bush combined in 20 years.