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Will the Senate pass the Tax Bill? Deficit increase?

Will the Senate pass the Tax Bill? Deficit increase?


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The above is another untruthful talking point by the left who would rather see tax increases on the middle class.....ask the newly elected governor of New Jeresy who on the first day after getting elected proposed a tax increase...

So the so-called rich paying 96% of all federal income taxes are getting rich on the backs of the poor who who pay about 4% of all income taxes...got it. Just how many jobs did the lower 50% of federal income tax payers created any jobs....The fact is many low income citizens in this country got back more on their tax return than they paid in...using the Child tax credit.
Links to you claims, you be missing links Mon

Define rich? Define poor- Tell me there ain't a 1.5 T deficit, tell me SS and Medicare are not getting cut next year or so? Tell me the lower income/middle class tax cuts do not expire in 2025? Tell me that the Corp tax cuts ain't permanent?
Tell me it ain't so Joe?
 
The tax cut will benefit everyone, and the stock market. Millennials will keep this bull market going, even if there is a correction. They aren't buying homes or cars, so they will invest. Millions of people are seeing their credit scores improve as they come off 2009-12 bankruptcies and foreclosures. GDP will improve and the stock market will continue the bull market. The tax cut is coming at an opportune time. And at this point, deficits don't matter. Our debt passed 100% of GDP but how high can it go? The Japanese passed 200% of their GDP. And we have the world's reserve currency. What all this debt does do is suppress GDP growth somewhat, and servicing that debt is already a major expense for the national government. God help the budget if interest rates do go up much. That's the danger of so much debt.
 
The above is another untruthful talking point by the left who would rather see tax increases on the middle class.....ask the newly elected governor of New Jeresy who on the first day after getting elected proposed a tax increase...

So the so-called rich paying 96% of all federal income taxes are getting rich on the backs of the poor who who pay about 4% of all income taxes...got it. Just how many jobs did the lower 50% of federal income tax payers created any jobs....The fact is many low income citizens in this country got back more on their tax return than they paid in...using the Child tax credit.

The fact is that this bill will increase tax on the middle class while 62% of benefits go to the top 1%. It is the worst tax bill in history and when Trumps base finds out that their taxes are going up they will be livid.
 
This is the best take on the tax bill I've seen before, comparing it quite reasonably to the disastrous republican actions before the 1929 crash.

https://www.washingtonpost.com/news...-straight-out-of-1929/?utm_term=.a06a1e792f88

Worth the read.

The government didn’t seem to learn from the reason The Glass Steagall Act was legislated. Thus our nation’s financial institutions began destabilize in early 2000 and crashed between 2007 and 2008.

Those in the Kingdom of Washington are probably the safest from being catapulted into a financial disaster. Washington, D.C. is a town that runs on inside information.
 
With growing deficits I do not see why we are even talking about tax cuts. Also, the rich are richer than ever before. The stock market is doing wel, even though most Americans are not. Rich people and corporations should be getting hit very hard with taxes.

Your thoughts are under the delusion that Congress Critters work for the voters that put them in their jobs. That's wrong! They work for the Corporations that donated campaign funds used to manipulate the MSM to fool the voters. Politicians are for rent. End of story. Corporations and Mega donors pay that rent. You get what you pay for. A harsh reality, but truth.
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With growing deficits I do not see why we are even talking about tax cuts. Also, the rich are richer than ever before. The stock market is doing wel, even though most Americans are not. Rich people and corporations should be getting hit very hard with taxes.

There are only 3 ways to deal with the national debt: cut spending, increase taxes, or grow the GDP faster than the debt is increasing. The GOP is betting that by cutting taxes on businesses they can increase the GDP growth rate to as high as 5% which would pay for the tax cuts and stave off the national debt becoming a significant issue.
 
There are only 3 ways to deal with the national debt: cut spending, increase taxes, or grow the GDP faster than the debt is increasing. The GOP is betting that by cutting taxes on businesses they can increase the GDP growth rate to as high as 5% which would pay for the tax cuts and stave off the national debt becoming a significant issue.

Are you keeping track of the number of times this GOP has tried this "tax cuts pay for themselves" stunt? Has it ever worked?

<cue one of them coming in and claiming that the housing bubble was the Bush tax cuts paying for themselves...>
 
Are you keeping track of the number of times this GOP has tried this "tax cuts pay for themselves" stunt? Has it ever worked?

<cue one of them coming in and claiming that the housing bubble was the Bush tax cuts paying for themselves...>

Yes, it worked somewhat with Reagan. But the benefits of his tax cuts went primarily to low and middle income people and did not increase the budget deficit.
 
Yes, it worked somewhat with Reagan. But the benefits of his tax cuts went primarily to low and middle income people and did not increase the budget deficit.

Many of the cuts Reagan did were necessary, imo, but it's impossible to say that those cuts really did anything positive for the economy by themselves. Remember, Reagan also went on a deficit spending binge, practically tripling the national debt during his 8 years. He also had the sense to go back and raise taxes a number of times when he saw that the cuts were not 'paying for themselves'. Bush 1 and Clinton had to continue the corrective tax increases after Reagan was gone.

Deficit spending tends to stimulate the economy...
 
How is it you post its a deficit increase? Just because some lefty Accountants at MSLSD think its such doesn't mean it will be? There are tax incentives to hire more people doing so requires them to build new offices, furniture, computers, vehicles, networking etc. those all make jobs! Some may even build a new wing, creating construction jobs, laborer jobs, supplies and materials being purchased...


Mom and Pops variety on the corner that employs 5 people is not going to help the economy!


As for the tax plan I am in the $50k -$70k range as such my total deductions the last 9 years have been between $9,000 - $11,000. Trumps plan gives me a base $12,000 that means right out of the door, i am already getting $1000 more back in my tax refund than ever before! This helps my family!
 
Many of the cuts Reagan did were necessary, imo, but it's impossible to say that those cuts really did anything positive for the economy by themselves. Remember, Reagan also went on a deficit spending binge, practically tripling the national debt during his 8 years. He also had the sense to go back and raise taxes a number of times when he saw that the cuts were not 'paying for themselves'. Bush 1 and Clinton had to continue the corrective tax increases after Reagan was gone.

Deficit spending tends to stimulate the economy...

really? the biggest economic boom in US History and you say it didn't work LMAO!!!! That big burning ball in the sky is not the sun either.
 
really? the biggest economic boom in US History and you say it didn't work LMAO!!!! That big burning ball in the sky is not the sun either.

Reagan cut taxes. The national debt tripled under Reagan. You claim "the biggest economic boom in U.S. history happened. The middle class has been stagnant/dying ever since. What caused what?

You might want to read the thread and think a bit before posting. Yeah,:lamo

Note that B followed A so A caused B is a very weak fallacy. :peace
 
With growing deficits I do not see why we are even talking about tax cuts. Also, the rich are richer than ever before. The stock market is doing wel, even though most Americans are not. Rich people and corporations should be getting hit very hard with taxes.

The CBO score assumed very anemic growth in their deficit projections. Unlikely to happen that way if they pass. I really don't care if it passes or not. I am in the forgotten middle class.
 
deficits don't matter. Democrats didn't care about them when they passed Obamacare. I don't mind if rich people get a tax cut; the top 10% pay almost all the taxes now. Even a low wage earner should have some skin in the game; pay something, even if it's a pittance.
 
There are only 3 ways to deal with the national debt: cut spending, increase taxes, or grow the GDP faster than the debt is increasing. The GOP is betting that by cutting taxes on businesses they can increase the GDP growth rate to as high as 5% which would pay for the tax cuts and stave off the national debt becoming a significant issue.

Under Democrat presidents since 1920 there have nearly always been higher taxes on the rich, plus more economic growth and more jobs created per year. Even the stock market has performed better.
 
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