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Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money

More of your falsehoods and issue avoidance.

Republicans, and Trump, sold the tax cuts as business incentives to open up more investment, efficiency of exchange, higher wages, economic growth stimulating to “offset lost government revenue.”

None of it happened.

What ended up happening was more cash on hand to initiate stock buybacks inflating the markets, increased distance between top executive pay and all other income quintiles, what little “investments” made have already flattened out, and ultimately the economy never improved enough to generate enough new tax revenues to make up the difference. (In fact every single time Republicans have claimed it would, it never did. Ever.)

Nice try to avoid the issue talking about liberal this or liberal that, all Trump’s / Republican’s tax cuts did was benefit the wealthy and reverse course on our deficit conditions making matters worse... again.

Not sure where you get your information but what results prove your point? What is it about liberalism that creates people like you who buy what you are told and ignore actual results. 5 million jobs have been created in 2 years and 2 trillion added to GDP, when was the last time that happened? People keeping more of what they earn really bothers you, doesn't it? How do you give a tax cut to people who don't pay FIT?
 
Not sure where you get your information but what results prove your point? What is it about liberalism that creates people like you who buy what you are told and ignore actual results. 5 million jobs have been created in 2 years and 2 trillion added to GDP, when was the last time that happened? People keeping more of what they earn really bothers you, doesn't it? How do you give a tax cut to people who don't pay FIT?

It’s official: The Trump tax cuts were a bust - MarketWatch

Foreign-Owned Banks’ Results Could Sweeten Further Under Tax Law - The New York Times

Post TCJA Bonuses Were Mostly a Timing Shift, Not A Boost In Long-Term Worker Pay | Tax Policy Center
 

And yet his approval rating on the economy is over 50%, tell that to the American people who will be re-electing him in 2020. Your love for big gov't and higher taxes puts you in the minority making most people wonder why? People keeping more of what they earn really bothers you, what is the deal here?

Oh, by the way, make that the Democratic Campaign pledge for 2020 and see how that plays out? You just will never get it, Federal tax revenue is UP, State and local Tax revenue is UP, Charitable giving is UP, Record dividends paid to shareholders of S&P, DOW records set! Think the American people are going to support tax increases on anyone, even those who aren't paying FIT are unlikely to support tax increases
 
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And yet his approval rating on the economy is over 50%, tell that to the American people who will be re-electing him in 2020. Your love for big gov't and higher taxes puts you in the minority making most people wonder why? People keeping more of what they earn really bothers you, what is the deal here?

Oh, by the way, make that the Democratic Campaign pledge for 2020 and see how that plays out? You just will never get it, Federal tax revenue is UP, State and local Tax revenue is UP, Charitable giving is UP, Record dividends paid to shareholders of S&P, DOW records set! Think the American people are going to support tax increases on anyone, even those who aren't paying FIT are unlikely to support tax increases

You claimed the tax-cuts made positive improvements. I posted objective data that showed they didn't. Reading that, you respond with polls. You are a special kind of hypocrite. When the data supports your position, you side with the data. When the data goes against you, you side with what people think, not the data.

Regarding polls, Trump is underwater and the "approval rating on the economy" is a minor measure and the election is 15 exhausting months from now. This will only get worse should the economy slows even more, as economists are telling us. In any case, we do know that you only care about your money and will vote for a racist thief if it helps you. Fortunately, most people don't.

The Trump tax cut caused a huge rise in the budget deficit, which the administration expects to hit $1 trillion this year, up from less than $600 billion in 2016. This tidal wave of red ink is even more extraordinary than it looks, because it has taken place despite falling unemployment, which usually leads to a falling deficit. The results were a short-term bump, not a long-term boost, as promised. This small bump is probably as good as it gets.

Nobody is forecasting a recession. It could happen, If it does, the country is very badly positioned to respond. More likely, is just a slowdown as the effects of the deficit splurge wear off. In fact, some economists are saying that slowdown is already happening. For example, the Fed of New York believes that the economy’s growth was down to 1.5% in the second quarter and the Fed of Atlanta says 1.6%. A recent Kiplinger, that I read, said 2020 will be less than 2%.

Weren't you the one calling Obama's 2% GDP growth mediocre?
 
You claimed the tax-cuts made positive improvements. I posted objective data that showed they didn't. Reading that, you respond with polls. You are a special kind of hypocrite. When the data supports your position, you side with the data. When the data goes against you, you side with what people think, not the data.

Regarding polls, Trump is underwater and the "approval rating on the economy" is a minor measure and the election is 15 exhausting months from now. This will only get worse should the economy slows even more, as economists are telling us. In any case, we do know that you only care about your money and will vote for a racist thief if it helps you. Fortunately, most people don't.

The Trump tax cut caused a huge rise in the budget deficit, which the administration expects to hit $1 trillion this year, up from less than $600 billion in 2016. This tidal wave of red ink is even more extraordinary than it looks, because it has taken place despite falling unemployment, which usually leads to a falling deficit. The results were a short-term bump, not a long-term boost, as promised. This small bump is probably as good as it gets.

Nobody is forecasting a recession. It could happen, If it does, the country is very badly positioned to respond. More likely, is just a slowdown as the effects of the deficit splurge wear off. In fact, some economists are saying that slowdown is already happening. For example, the Fed of New York believes that the economy’s growth was down to 1.5% in the second quarter and the Fed of Atlanta says 1.6%. A recent Kiplinger, that I read, said 2020 will be less than 2%.

Weren't you the one calling Obama's 2% GDP growth mediocre?

The results support my claim and not yours. You keep focusing on percentage and not dollars, why is that? Huge rise in the budget deficit? Post that actual budget deficit rise? Then call your Democratic Candidates and tell them to run on repealing the Trump tax cuts

Obama's GDP growth was 4.2 trillion dollars in 8 years, Trump has 2 trillion in two plus years. Dollars matter not percentage change
 
The results support my claim and not yours. You keep focusing on percentage and not dollars, why is that? Huge rise in the budget deficit? Post that actual budget deficit rise? Then call your Democratic Candidates and tell them to run on repealing the Trump tax cuts

Obama's GDP growth was 4.2 trillion dollars in 8 years, Trump has 2 trillion in two plus years. Dollars matter not percentage change
Um, did that growth happen after the tax-cuts were passed? I'll save you time, no, they weren't. Since the tax-cuts are the subject of this debate, your post has nothing to do with the discussion.
 
Um, did that growth happen after the tax-cuts were passed? I'll save you time, no, they weren't. Since the tax-cuts are the subject of this debate, your post has nothing to do with the discussion.

You tell me, employment numbers

2016 150622 150934 151146 150963 151074 151104 151450 151766 151877 151949 152150 152276
2017 152128 152417 152958 153150 152920 153176 153456 153591 154399 153847 153945 154065
2018 154482 155213 155160 155216 155539 155592 155964 155604 156069 156582 156803 156945
 
You tell me, employment numbers

2016 150622 150934 151146 150963 151074 151104 151450 151766 151877 151949 152150 152276
2017 152128 152417 152958 153150 152920 153176 153456 153591 154399 153847 153945 154065
2018 154482 155213 155160 155216 155539 155592 155964 155604 156069 156582 156803 156945
Are you suggesting that the employment situation, which has been falling unemployment for ten years, is because Republicans cut taxes in 2017? If so, we live in a universe where effect predates cause.
 
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Are you suggesting that the employment situation, which has been falling unemployment for ten years, is because Republicans cut taxes in 2017? If so, we live in a universe where effect predates cause.

The numbers speak for themselves including the part time for economic reasons as well as the U-6 numbers both of which you want to ignore. In December 2017 the employment was 154 million, in December 2018 it was 156.9 million, 2.9 million more employed one year later after the Trump tax cuts tells a different story than the one you want to tell. Please by all means run in 2020 on raising taxes!!
 
I suggest a reading comprehension course for you, NEVER DID I SAY THAT THE LOWER INCOME EARNERS should be paying FIT taxes nor do I care what anyone pays in taxes, what I do care about is your argument that the rich should fund more of the responsibility when 44% of income earners have NONE. The top 1% pays 40% of the FIT now, the bottom 44% pay ZERO FIT so before raising the taxes on the top 1% get something from the 44% that don't pay any FIT!
So you want to tax the 44% of the people who do not pay FIT now and you are saying that you " NEVER DID I SAY THAT THE LOWER INCOME EARNERS should be paying FIT taxes "
So just what are you saying?)
YOU keep saying the lower 44% should pay FIT ( YOU HAVE said this on here hundreds of times " )
IF you tax them then YOU want them to be able to keep LESS of what they earn ( seeing paying FIT would take part of their hard earned income, income they need to live on and cut the FIT on people who earn more then enough to live on )

again you should be saying I want the lower income earners pay FIT and not be able to keep more of what they earn and let the upper income earners keep more of what they earn
Have a nice day
 
So you want to tax the 44% of the people who do not pay FIT now and you are saying that you " NEVER DID I SAY THAT THE LOWER INCOME EARNERS should be paying FIT taxes "
So just what are you saying?)
YOU keep saying the lower 44% should pay FIT ( YOU HAVE said this on here hundreds of times " )
IF you tax them then YOU want them to be able to keep LESS of what they earn ( seeing paying FIT would take part of their hard earned income, income they need to live on and cut the FIT on people who earn more then enough to live on )

again you should be saying I want the lower income earners pay FIT and not be able to keep more of what they earn and let the upper income earners keep more of what they earn
Have a nice day

Is reading comprehension a problem for you? You are the one promoting higher taxes on the rich and my point remains I don't give a damn what you or anyone else pays it taxes but before raising taxes on the people who pay 40% of the FIT get something from those who don't pay ANY FIT!

It is quite stunning how easy it is to make people like you believe in the liberal ideology and how the rich people are responsible for providing you your personal responsibility issues. There is no fairness where the top 1% pay most of the FIT and 44% pay zero but this is all you radicals have to run on.

Still waiting for how you cut FIT on people who don't pay FIT and also as I have posted with official data how did 1.8 trillion in FIT and Corporate revenue on the 1.2 trillion discretionary budget line items caused the 770 billion deficit?? Amazing how you want to reward the bureaucrats for their stealing of SS and Medicare funds oh, wait, I mean borrowed from SS and Medicare but never repaying the money back to the treasury so your desire is to raise taxes on the rich and pay for those shortfalls with FIT
 
Is reading comprehension a problem for you? You are the one promoting higher taxes on the rich and my point remains I don't give a damn what you or anyone else pays it taxes but before raising taxes on the people who pay 40% of the FIT get something from those who don't pay ANY FIT!

It is quite stunning how easy it is to make people like you believe in the liberal ideology and how the rich people are responsible for providing you your personal responsibility issues. There is no fairness where the top 1% pay most of the FIT and 44% pay zero but this is all you radicals have to run on.

Still waiting for how you cut FIT on people who don't pay FIT and also as I have posted with official data how did 1.8 trillion in FIT and Corporate revenue on the 1.2 trillion discretionary budget line items caused the 770 billion deficit?? Amazing how you want to reward the bureaucrats for their stealing of SS and Medicare funds oh, wait, I mean borrowed from SS and Medicare but never repaying the money back to the treasury so your desire is to raise taxes on the rich and pay for those shortfalls with FIT
Willie Sutton, the holdup artist who when asked "why do you rob banks," reputedly said he "robbed banks because that’s where the money is." Likewise with income taxes. Taxing low income Americans raises very little money, while adding just a small percentage increase on high income yields lots of revenue.

If you’re serious about the deficit, you should be willing to consider closing at least part of this gap with higher taxes. Higher taxes on wealth is very popular, while cuts in government programs aren't. So we should add to the roster of fundamentally unserious people anyone who talks about the deficit -- as most of our prominent deficit scolds do -- as if it were purely a spending issue.
 
Willie Sutton, the holdup artist who when asked "why do you rob banks," reputedly said he "robbed banks because that’s where the money is." Likewise with income taxes. Taxing low income Americans raises very little money, while adding just a small percentage increase on high income yields lots of revenue.

If you’re serious about the deficit, you should be willing to consider closing at least part of this gap with higher taxes. Higher taxes on wealth is very popular, while cuts in government programs aren't. So we should add to the roster of fundamentally unserious people anyone who talks about the deficit -- as most of our prominent deficit scolds do -- as if it were purely a spending issue.

So now people keeping more of what they earn is illegal and bank robbing? Low income earners not paying any FIT isn't the issue, raising taxes on the top 1% that pays 40% of FIT IS!!!

If you are interested in lowering the deficit first you would reform entitlements and remove SS and Medicare from the current budget.

Then you would take a look at the 44% of income earners and see exactly why those people aren't paying any FIT and change the law to make sure that all taxpayers pay at least something. It would be easy to eliminate taxes from anyone under a specific age to provide incentive to teens and first time job holders

Third look at all federal social programs and return most to the states for their handling, the excuse that they cannot do it is moot as it never has been done because bureaucrats are addicted to collecting tax dollars and buying votes with it

Fourth make sure the budget reflects the Constitution and is reduced to the Constitutional requirements which is to provide for the common defense and PROMOTE not provide domestic welfare which can be accomplished with again promoting charities and local and state responsibility.

The federal gov't is bloated, 4.7 trillion in 2020 is outrageous especially since only 1.47 trillion is discretionary spending and the rest entitlement as well as debt service.
 
Nonsense. This forum isn't a 'gossip forum.' It's a forum to share opinions and ideologies, agreements, and disagreements. Not all posts require statistics. This is your misunderstanding. BTW, if you don't like the forum, no one is forcing you to participate, are they ?

OMG did you here what Sally said the other day? That was like, so stupid.
 
Is reading comprehension a problem for you? You are the one promoting higher taxes on the rich and my point remains I don't give a damn what you or anyone else pays it taxes but before raising taxes on the people who pay 40% of the FIT get something from those who don't pay ANY FIT!

It is quite stunning how easy it is to make people like you believe in the liberal ideology and how the rich people are responsible for providing you your personal responsibility issues. There is no fairness where the top 1% pay most of the FIT and 44% pay zero but this is all you radicals have to run on.

Still waiting for how you cut FIT on people who don't pay FIT and also as I have posted with official data how did 1.8 trillion in FIT and Corporate revenue on the 1.2 trillion discretionary budget line items caused the 770 billion deficit?? Amazing how you want to reward the bureaucrats for their stealing of SS and Medicare funds oh, wait, I mean borrowed from SS and Medicare but never repaying the money back to the treasury so your desire is to raise taxes on the rich and pay for those shortfalls with FIT
You lie almost as much as Trump does
You say you don't care what people pay in FIT but you want the low income earners pay FIT
well if you don't care why is it you are always crying about the 44% of people not paying FIT.
YOU keep saying the lower 44% of people should be paying FIT and you want to cut the FIT on the top wage earners.
YOU also keep saying people should be able to keep more of what thy earn but you want to make every wage earner to pay FIT even IF they don't even earn enough to live on so again YOU should be saying I want the top wage earners to keep more of what they earn and the lower wage earners to keep less of what they earn even if they don't make enough to live on
Have a nice day
 
You lie almost as much as Trump does
You say you don't care what people pay in FIT but you want the low income earners pay FIT
well if you don't care why is it you are always crying about the 44% of people not paying FIT.
YOU keep saying the lower 44% of people should be paying FIT and you want to cut the FIT on the top wage earners.
YOU also keep saying people should be able to keep more of what thy earn but you want to make every wage earner to pay FIT even IF they don't even earn enough to live on so again YOU should be saying I want the top wage earners to keep more of what they earn and the lower wage earners to keep less of what they earn even if they don't make enough to live on
Have a nice day

NO, what I am saying before raising the taxes on those evil rich people more than the 40% they pay now get something out of those who don't pay any FIT. This is nothing more than continued partisan rhetoric from you who is totally ignorant of this issue and most others. You talk about fairness, what is fair about the top 1% paying 40% of all FIT??

Further what is fair about bureaucrats "borrowing" from the SS fund and repaying that fund with FIT revenue?

As for the thread topic, one more time explain how people keeping more of what they earn is the federal gov't giving them anything? False thread topic continuing to show how intellectual bankrupt the liberals are
 
NO, what I am saying before raising the taxes on those evil rich people more than the 40% they pay now get something out of those who don't pay any FIT. This is nothing more than continued partisan rhetoric from you who is totally ignorant of this issue and most others. You talk about fairness, what is fair about the top 1% paying 40% of all FIT??

Further what is fair about bureaucrats "borrowing" from the SS fund and repaying that fund with FIT revenue?

As for the thread topic, one more time explain how people keeping more of what they earn is the federal gov't giving them anything? False thread topic continuing to show how intellectual bankrupt the liberals are
Nice try to change the subject and what other people say.
Well FACT is YOU keep crying that 44% of the people don't pay FIT
Well maybe it is time for you to realize a lot of these people are on SS and the ones that are working don't make a lot of money ( yes some of them do spend their money on things they don't need )and a lot of them can't make ends meet.
YOU keep crying about them and now you say you don't care what people pay in FIT.
well what is it?
IF you don't care about what people pay in FIT then you should stop crying about the 44% who don't pay any.
and tell us where I have EVER said it was right / or fair to borrow from the SS system to cover the short fall in revenue
Fact is the Gov. did borrow from the SS system because they had a short fall in Revenue ( a good part comes from FIT ) so they should use FIT to pay it back.
As I have said before I believe that we should have a national sales tax of say 1% dedicated to JUST paying off the debt ( everybody including Corps should have to pay it and NOT be able to deduct it from their FIT , everybody got the benefit from the debt so everybody should help pay it off )
and I have to ask you where have I ever said cutting the FIT was the government GIVING anybody any thing?
again you really have to STOP changing what people say on here
AND YOU should stop saying that people should be able to keep more of what they earn when you want the lower wage earners to pay FIT and the Top levels not pay as much
AGAIN YOU should be saying People in the higher income levels should be able to keep more of what they earn and people in the lower income levels less of what they earn.
Have a nice day
 
So now people keeping more of what they earn is illegal and bank robbing? Low income earners not paying any FIT isn't the issue, raising taxes on the top 1% that pays 40% of FIT IS!!!

If you are interested in lowering the deficit first you would reform entitlements and remove SS and Medicare from the current budget.

Then you would take a look at the 44% of income earners and see exactly why those people aren't paying any FIT and change the law to make sure that all taxpayers pay at least something. It would be easy to eliminate taxes from anyone under a specific age to provide incentive to teens and first time job holders

Third look at all federal social programs and return most to the states for their handling, the excuse that they cannot do it is moot as it never has been done because bureaucrats are addicted to collecting tax dollars and buying votes with it

Fourth make sure the budget reflects the Constitution and is reduced to the Constitutional requirements which is to provide for the common defense and PROMOTE not provide domestic welfare which can be accomplished with again promoting charities and local and state responsibility.

The federal gov't is bloated, 4.7 trillion in 2020 is outrageous especially since only 1.47 trillion is discretionary spending and the rest entitlement as well as debt service.

Let's stop the facade that you care about "people keeping more of what they earn," because you don't. To be clear, you care about RICH PEOPLE keeping more of what they earn. You have no sympathy for the middle class workers who are paying more income taxes because Trump lowered the amount of property taxes they can deduct. Those people are keeping less of what they earn and you don't care and will surely have an excuse in later posts.
 
Nice try to change the subject and what other people say.
Well FACT is YOU keep crying that 44% of the people don't pay FIT
Well maybe it is time for you to realize a lot of these people are on SS and the ones that are working don't make a lot of money ( yes some of them do spend their money on things they don't need )and a lot of them can't make ends meet.
YOU keep crying about them and now you say you don't care what people pay in FIT.
well what is it?
IF you don't care about what people pay in FIT then you should stop crying about the 44% who don't pay any.
and tell us where I have EVER said it was right / or fair to borrow from the SS system to cover the short fall in revenue
Fact is the Gov. did borrow from the SS system because they had a short fall in Revenue ( a good part comes from FIT ) so they should use FIT to pay it back.
As I have said before I believe that we should have a national sales tax of say 1% dedicated to JUST paying off the debt ( everybody including Corps should have to pay it and NOT be able to deduct it from their FIT , everybody got the benefit from the debt so everybody should help pay it off )
and I have to ask you where have I ever said cutting the FIT was the government GIVING anybody any thing?
again you really have to STOP changing what people say on here
AND YOU should stop saying that people should be able to keep more of what they earn when you want the lower wage earners to pay FIT and the Top levels not pay as much
AGAIN YOU should be saying People in the higher income levels should be able to keep more of what they earn and people in the lower income levels less of what they earn.
Have a nice day

No the fact is you are an arrogant out of touch with reality liberal totally indoctrinated into a failed ideology where it is always someone else's responsibility to pay for your personal responsibility issues. Where on earth did you learn it was someone else's responsibility to pay for yours? that entitlement mentality is why you keep losing national elections
 
Let's stop the facade that you care about "people keeping more of what they earn," because you don't. To be clear, you care about RICH PEOPLE keeping more of what they earn. You have no sympathy for the middle class workers who are paying more income taxes because Trump lowered the amount of property taxes they can deduct. Those people are keeping less of what they earn and you don't care and will surely have an excuse in later posts.

Talk about facade, you have no idea what taxes you pay, their purpose, or the true role of the Federal Gov't. I couldn't care less what a rich person gets to keep out of their own money because no rich person ever prevented me from joining them if I chose to do so. You are nothing more than a big gov't liberal who believes it is someone else's responsibility to pay for your personal responsibility issues. Keep showing everyone here how partisan you are and please by all means run on that big gov't ideology and higher taxes for the rich
 
No the fact is you are an arrogant out of touch with reality liberal totally indoctrinated into a failed ideology where it is always someone else's responsibility to pay for your personal responsibility issues. Where on earth did you learn it was someone else's responsibility to pay for yours? that entitlement mentality is why you keep losing national elections
Again you are trying to change what other people have said and the subject.
Where have I ever said it was somebody else's responsibility to pay for anything I got or MY responsibilities
I have paid FIT EVERY year I worked and earned MY money.
and FICA YES every year even when I was in the service.
Even over the last years when I have been retired and on SS.
and with the Trump " tax cuts " MY FIT has gone UP
I am one of the people who PAY FIT and as I said there hasn't been a year I didn't
Have a nice day
 
Again you are trying to change what other people have said and the subject.
Where have I ever said it was somebody else's responsibility to pay for anything I got or MY responsibilities
I have paid FIT EVERY year I worked and earned MY money.
and FICA YES every year even when I was in the service.
Even over the last years when I have been retired and on SS.
and with the Trump " tax cuts " MY FIT has gone UP
I am one of the people who PAY FIT and as I said there hasn't been a year I didn't
Have a nice day

You have yet to explain how it is fair for the top 1% to pay 40% of FIT whereas 44% of income earners pay ZERO!! Your FIT didn't go up, it went down, as did your deductions because of the cap on your high state and local taxes which you used to reduce your federal liability. What you pay in taxes has more to do with your deductions than the actual Withholding collected, Not surprising that you didn't know that
 
You have yet to explain how it is fair for the top 1% to pay 40% of FIT whereas 44% of income earners pay ZERO!! Your FIT didn't go up, it went down, as did your deductions because of the cap on your high state and local taxes which you used to reduce your federal liability. What you pay in taxes has more to do with your deductions than the actual Withholding collected, Not surprising that you didn't know that
Instead, let's have Adam Smith answer your question. From the Wealth of Natons:
"it is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion"
 
Instead, let's have Adam Smith answer your question. From the Wealth of Natons:

Let's discuss reality, people keeping more of what they earn isn't a gift of money coming from the Federal Gov't. Only in your world is it fair for the top 1% to pay 40% of the income taxes and 44% of income earning Americans paying ZERO. That is why liberals continue to lose national elections, the public realized the class warfare and jealousy you have
 
Let's discuss reality, people keeping more of what they earn isn't a gift of money coming from the Federal Gov't. Only in your world is it fair for the top 1% to pay 40% of the income taxes and 44% of income earning Americans paying ZERO. That is why liberals continue to lose national elections, the public realized the class warfare and jealousy you have
Um, the last national election was in 2018 and the Dems blew the Reps out of the water. Somehow, voters didn't like the idea that Republicans were bent on taking away their health insurance; didn't like tax-cuts that went mostly to the rich, that Republicans then wanted to offset by cutting Medicare and Social Security; and tariffs that cost Americans $1,000 each.

Apart from rejecting liberals, somehow Americans didn't like the taste of Republican governance.
 
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