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

Jay59 · Aug 9, 2019

Media_Truth said:
Sounds like somebody needs a history lesson. The deficits started dropping like rock in 2010-2012. Obama owned those sharply decreasing deficits. Bush owned the 2008 and 2009 deficits, as he executed the worst presidential pass-on since the Great Depression. There's my evidence. Where's yours?

Poor graph. The scale is too long.

Still, using your numbers you should have nothing to worry about. 2016 and 2017 belong to Obama, continuing a steep upward trend, but it peaks next year. This is your information so it must be correct, right? Anyway you cut it, Obama has more deficit accumulation than all other Presidents combined.

Conservative · Aug 9, 2019

Jay59 said:
Poor graph. The scale is too long.

Still, using your numbers you should have nothing to worry about. 2016 and 2017 belong to Obama, continuing a steep upward trend, but it peaks next year. This is your information so it must be correct, right? Anyway you cut it, Obama has more deficit accumulation than all other Presidents combined.

The radical left apparently doesn't understand where the debt comes from as they tout deficit reductions ignoring that even reduced deficits add to the debt. There definitely is a breakdown in the education system in this country today. This poster totally ignores that the 9.3 trillion dollar debt came from Obama deficits and had the GOP not reduced his deficits the 9.3 trillion would have been worse

eohrnberger · Aug 9, 2019

Media_Truth said:
It is inconceivable to Republicans. They had control of the House, the Senate, and the Presidency for 2 years. Why didn't they do it? Better yet, why didn't they do it before they cut taxes, skyrocketing the deficit.

Had to make a deal with Democrats so that the legislation would pass, clearly.

But that's not to say that Republicans in congress are fiscally conservative, clearly they are not either.

DC is badly broken, the political rhetoric as well as this budget legislation shows it.

Jay59 · Aug 9, 2019

Conservative said:
The radical left apparently doesn't understand where the debt comes from as they tout deficit reductions ignoring that even reduced deficits add to the debt. There definitely is a breakdown in the education system in this country today. This poster totally ignores that the 9.3 trillion dollar debt came from Obama deficits and had the GOP not reduced his deficits the 9.3 trillion would have been worse

There is a huge difference after the 2010 elections. When all three houses are same party, ie White House, Senate. and House, deficits always expand. Diversity is good for budget control. We saw it in 2017.

Another big factor is debt service at higher interest rates.

Media_Truth · Aug 9, 2019

Conservative said:
You want to credit Obama for lowering the deficit when the reality is that the lowest Obama deficits came with a Republican Congress. You also seem to have a problem understanding data as the entire increase in the 2018 deficit was due to SS/Medicare spending increases vs. revenue generated and debt service on the inherited debt. Rater sad to see someone like you incapable of admitting when wrong

It's very simple, to avoid a deficit, the government has to take in more than it spends. If Trump and the merry band of Republicans couldn't cut spending, they shouldn't have decreased the income by lowering taxes for billionaires. Very simple.

Conservative · Aug 10, 2019

Media_Truth said:
It's very simple, to avoid a deficit, the government has to take in more than it spends. If Trump and the merry band of Republicans couldn't cut spending, they shouldn't have decreased the income by lowering taxes for billionaires. Very simple.

It takes more than Trump and Republicans to cut Entitlement spending but then again most civics challenged liberals have no idea what they talking about. FIT was never intended to fund SS and Medicare shortfall, Infrastructure, and debt service but that reality escapes you as well. Class envy, jealousy, and politics of personal destruction are all the Democratic Party of today has.

Income hasn't been decreased because of tax cuts as there is no way you can prove that the economic activity would have happened without them. I have posted this budget result over and over only to be ignored. Get some help this time reading it. FIT was created to fund the line items in the budget that Congress created such as defense and as this link shows cost the taxpayers 1.28 trillion dollars in 2018. Treasury reports 1.8 trillion in revenue for FIT and corporate taxes so tell me how more revenue from FIT and corporate taxes to fund the 1.28 trillion dollars caused the deficit to explode?

FY 2018 Federal Budget: Enacted Versus Trump's Budget Request

Media_Truth · Aug 10, 2019

Conservative said:
It takes more than Trump and Republicans to cut Entitlement spending but then again most civics challenged liberals have no idea what they talking about. FIT was never intended to fund SS and Medicare shortfall, Infrastructure, and debt service but that reality escapes you as well. Class envy, jealousy, and politics of personal destruction are all the Democratic Party of today has.

Income hasn't been decreased because of tax cuts as there is no way you can prove that the economic activity would have happened without them. I have posted this budget result over and over only to be ignored. Get some help this time reading it. FIT was created to fund the line items in the budget that Congress created such as defense and as this link shows cost the taxpayers 1.28 trillion dollars in 2018. Treasury reports 1.8 trillion in revenue for FIT and corporate taxes so tell me how more revenue from FIT and corporate taxes to fund the 1.28 trillion dollars caused the deficit to explode?

FY 2018 Federal Budget: Enacted Versus Trump's Budget Request

There you go, overcomplicating things again. Very simple - the government has to take in more than it spends. Trump and the merry band of Republicans weren't able to accomplish that, despite the fact that they controlled the House, the Senate, and the Presidency. Instead they increased deficit spending for the 2 years they were in control. Simple!

Conservative · Aug 10, 2019

Media_Truth said:
There you go, overcomplicating things again. Very simple - the government has to take in more than it spends. Trump and the merry band of Republicans weren't able to accomplish that, despite the fact that they controlled the House, the Senate, and the Presidency. Instead they increased deficit spending for the 2 years they were in control. Simple!

The gov't spends more than it is necessary to spend and that is both parties. As I have pointed out and you ignored, Trump doesn't spend entitlement money or debt service, he spends discretionary money. You are simply out of your element here totally civics challenged as well as budget challenged. I gave you the link showing discretionary spending was 1.28 trillion dollars in 2018 fund by 1.8 trillion in FIT and CIT. You have yet to refute that reality?

Waiting for you to explain how 1.8 trillion in revenue for 1.28 trillion in expenses created the deficit growth?

sKiTzo · Aug 10, 2019

Bullseye said:
If it was worth the time I'd dig up all the other studies that show those tax cuts benefits a huge percentage of all taxpayers. Not worth the effort, facts would be involved and liberals don't do facts. :cool

I'll leave you to your little loony lib circle jerk now.

Ha! Well said.

Media_Truth · Aug 10, 2019

Conservative said:
The gov't spends more than it is necessary to spend and that is both parties. As I have pointed out and you ignored, Trump doesn't spend entitlement money or debt service, he spends discretionary money. You are simply out of your element here totally civics challenged as well as budget challenged. I gave you the link showing discretionary spending was 1.28 trillion dollars in 2018 fund by 1.8 trillion in FIT and CIT. You have yet to refute that reality?

Waiting for you to explain how 1.8 trillion in revenue for 1.28 trillion in expenses created the deficit growth?

You're overcomplicating again. Simple - Revenue minus Expenses = Deficit. Elementary school children understand that. Clinton and Gore worked in a bipartisan manner to reduce the deficit to positive territory. You pointed out that Obama reduced the deficit in most of his years, with a Republican Congress. Trump can't even reduce the deficit with his own Party in power. Neither could GW Bush.

Conservative · Aug 10, 2019

Media_Truth said:
You're overcomplicating again. Simple - Revenue minus Expenses = Deficit. Elementary school children understand that. Clinton and Gore worked in a bipartisan manner to reduce the deficit to positive territory. You pointed out that Obama reduced the deficit in most of his years, with a Republican Congress. Trump can't even reduce the deficit with his own Party in power. Neither could GW Bush.

Clinton and Gore aren't in office, Obama is out of office, I asked you a question and you ignore it, what made up the 2018 deficit? Was Trump responsible for the 20 trillion debt when he took office? Was Trump responsible for the entitlement spending increases? Please explain how 1.8 trillion in FIT and CIT revenue to pay for the 1.28 trillion in discretionary spending caused the deficit increases? You don't seem to have a very good grasp of data or reality just typical left wing ignorance.

Media_Truth · Aug 11, 2019

Conservative said:
Clinton and Gore aren't in office, Obama is out of office, I asked you a question and you ignore it, what made up the 2018 deficit? Was Trump responsible for the 20 trillion debt when he took office? Was Trump responsible for the entitlement spending increases? Please explain how 1.8 trillion in FIT and CIT revenue to pay for the 1.28 trillion in discretionary spending caused the deficit increases? You don't seem to have a very good grasp of data or reality just typical left wing ignorance.

I ignore your questions because you are not adhering to the definition of a Federal deficit. Clinton and Gore, Obama/Biden --- these are examples of admistrations that reduced the deficit while in office. Reagan, GW Bush, and now Trump --- nothing but skyrocketing deficits. If you admit the facts - that deficits have risen under every Republican President since early '80s, I will answer your question. Otherwise you're just lying, so there's no point in furthering the discussion.

Conservative · Aug 11, 2019

Media_Truth said:
I ignore your questions because you are not adhering to the definition of a Federal deficit. Clinton and Gore, Obama/Biden --- these are examples of admistrations that reduced the deficit while in office. Reagan, GW Bush, and now Trump --- nothing but skyrocketing deficits. If you admit the facts - that deficits have risen under every Republican President since early '80s, I will answer your question. Otherwise you're just lying, so there's no point in furthering the discussion.

The Federal Debt grew 1.4 trillion under Clinton/Gore so keep ignoring reality! Reducing the deficit really excites you even though debt continued to grow showing how poorly informed you are. We pay debt service not deficit service. The Obama deficits added 9.3 trillion to the debt, NO Republicans President ever had trillion dollar deficits including as of today, TRUMP!! Obama had 4 of them

99percenter · Aug 11, 2019

Conservative said:
The Federal Debt grew 1.4 trillion under Clinton/Gore so keep ignoring reality! Reducing the deficit really excites you even though debt continued to grow showing how poorly informed you are. We pay debt service not deficit service. The Obama deficits added 9.3 trillion to the debt, NO Republicans President ever had trillion dollar deficits including as of today, TRUMP!! Obama had 4 of them

Bush's last deficit was $1.4 trillion.

marke · Aug 11, 2019

MTAtech said:
[h=1]Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money[/h]
Call me not-surprised. The advocates of tax-cuts said that miracles will happen if we passed this. Well, the miracles didn't happen.

When Congress debates tax plans, they do what most Americans fail to do - they weigh the costs and benefits of raising and lowering taxes. There are many factors involved. When taxes and regulations were cut during the Clinton administration, the economy surged. JFK cut taxes and the economy grew.

Democrats talk about the rich getting richer but what does that mean? Very little in terms of reality and useful rhetoric. To follow just the base line of that argument is to believe that if people get richer in America then the American economy suffers because of it. That is simply not true.

Another misconception most democrats seem to hold is that Trump passes tax laws, which he does not. Congress sets the tax rates and writes the tax code, not Trump.

Conservative · Aug 11, 2019

99percenter said:
Bush's last deficit was $1.4 trillion.

Prove it!!

Tbird19482 · Aug 11, 2019

99percenter said:
Bush's last deficit was $1.4 trillion.

One important difference between Trump's debt figures and Obama's is that Trump has added a massive amount of debt while the US economy has been strong, whereas Obama took over during the depths of the financial crisis.

Economists typically recommend that the federal government increase spending, and thus add more debt, during times of economic struggles and then pay down that debt when the economy recovers. So while economic theory would support Obama's spending to help support the economy, Trump's recent debt binge has less support among economists.
If the economy is so strong why is Trump running up the debt so much?
As it said Obama ran it up when the economy was in a recession and that or going into a war like WWII is the only way to get out of a Recession / Depression like the one Bush left Obama
Have a nice day

Tbird19482 · Aug 11, 2019

Conservative said:
Prove it!!

Here read this
US Deficit by President: What Budgets Hide

FY 2009 - $1.16 trillion. This amount is calculated from $1.413 trillion minus $253 billion from Obama's Stimulus Act.
have a nice day

Conservative · Aug 11, 2019

Tbird19482 said:
Here read this
US Deficit by President: What Budgets Hide

FY 2009 - $1.16 trillion. This amount is calculated from $1.413 trillion minus $253 billion from Obama's Stimulus Act.
have a nice day

LOL, yep, Obama didn't spend a dime other than the 253 billion you claim from the stimulus? Was TARP included in that deficit? Was TARP Repaid? Did Bush take over GM? Did Bush bail out AIG? Did Bush create the Afghanistan supplemental in June 2009? You have a very selective and partisan memory obviously not caring about your own credibility. You have a Nice day

Media_Truth · Aug 11, 2019

Conservative said:
The Federal Debt grew 1.4 trillion under Clinton/Gore so keep ignoring reality! Reducing the deficit really excites you even though debt continued to grow showing how poorly informed you are. We pay debt service not deficit service. The Obama deficits added 9.3 trillion to the debt, NO Republicans President ever had trillion dollar deficits including as of today, TRUMP!! Obama had 4 of them

You continue to lie and deceive. Bush had a $1.4 Trillion deficit - the largest ever. After fixing the Bush disaster messes, Obama started reducing the deficits, and they were dropping like a rock. Prior to that, after Clinton/Gore took the deficit positive, Bush immediately took it back into negative territory. The debt would have started being reduced, had Bush not started his extremely irresponsible fiscal policy. You ignore facts for your dishonest rhetoric.

Media_Truth · Aug 11, 2019

Conservative said:
LOL, yep, Obama didn't spend a dime other than the 253 billion you claim from the stimulus? Was TARP included in that deficit? Was TARP Repaid? Did Bush take over GM? Did Bush bail out AIG? Did Bush create the Afghanistan supplemental in June 2009? You have a very selective and partisan memory obviously not caring about your own credibility. You have a Nice day

Tbird is correct. Your perceptions are warped.

99percenter · Aug 11, 2019

Conservative said:
Prove it!!

You can't just look at the other 52645 posts where I proved it?

Conservative · Aug 11, 2019

Media_Truth said:
You continue to lie and deceive. Bush had a $1.4 Trillion deficit - the largest ever. After fixing the Bush disaster messes, Obama started reducing the deficits, and they were dropping like a rock. Prior to that, after Clinton/Gore took the deficit positive, Bush immediately took it back into negative territory. The debt would have started being reduced, had Bush not started his extremely irresponsible fiscal policy. You ignore facts for your dishonest rhetoric.

Interesting how you never post data to support your claims. Obviously you have never taken a civics class and have no idea who controlled the legislation and purse strings the last two years of the Bush term or the fact that Obama signed the 2009 budget in March 2009. Dishonesty resonates with every post of yours. Post the data or admit that you are wrong?

Conservative · Aug 11, 2019

Media_Truth said:
Tbird is correct. Your perceptions are warped.

So you say but being from Chicago doesn't give you a lot of credibility. Not once have you posted official treasury data showing what you claim. Treasury data matters not your opinions most of which are civics challenged

Conservative · Aug 11, 2019

99percenter said:
You can't just look at the other 52645 posts where I proved it?

LOL, so you cannot prove what you are saying, not surprising, Chicago people don't have a lot of credibility as all they do is lie, distort and participate in the politics of personal destruction. Understand there is a movement place in your state to remove Chicago from the rest of the state as it is the most politically corrupt in the nation!