$3.5T Not As Big As You Might Think

[The Original Tree]

Here's Why Democrats' $3.5 Trillion Legislation Isn't (Quite) As Big As It Sounds

It's a lot of money, but still less than the Great Society — and still not what they spend in Europe.

www.huffpost.com

In fact it includes Medicare and other items that save $1T.

Including savings on drug costs. Something long overdue

Here we go....

We need to start cutting spending. You do realize that we have to borrow this money. And Build Back Better is a scam, because we had already rebuilt the military, and were on our way to infrastructure in a pork free bill that PelNazi blocked.

She and the hordes of demons she allies with are not for The People.

 

[22lcidw]

So, Trump can pass a $2.3 trillion tax cut for the rich and republicans have no issue with that but Biden signing a bill for $1.2 trillion more for infrastructure and Americans and republicans blow a gasket.

Remember Trump as a SOTU address asking for infrastructure legislation and the Prog stanky broads wearing their same colored dresses with their hands underneath their hands.? I do.

 

[hadit]

Confiscate all the wealth from everyone earning over $400k and give it to those earning under $400k.

Hmmmm, let's have some fun with this. That would create a whole new bunch of people earning over $400K, which in turn means they would have all their wealth confiscated, which then creates a whole new bunch of people earning over $400K...

See where I'm going? It's the democrats' version of a perpetual motion machine, and you could probably find a bunch of them who believe it would work.

 

[The Original Tree]

Get rid of all tax loopholes and exceptions made for Congress.
Eliminate Lobbyists, and gifts.
There should be no profiteering from public office while you are in office.
Ban insider trading for Congress
Produce a balanced budget amendment to The Constitution.

Then I will discuss your Pork Filled garbage bill.

 

[Smokin' OP]

Describe the cap on SALT deductions and the impact on the "RICH".

The state and local tax (SALT) deduction allows taxpayers of high-tax states to deduct local tax payments on their federal tax returns. The tax plan signed by President Trump in 2017, called the Tax Cuts and Jobs Act, instituted a cap on the SALT deduction. Starting with the 2018 tax year, the maximum SALT deduction available was $10,000.

Likely didn't impact the rich much and even with the added revenue states are still suffering from budget issues.


So, it STILL didn't pay for itself, even with the added revenue.

Between new cost estimates and the White House’s own budget numbers, the wheels are coming off Republican claims that President Donald Trump’s tax cuts will pay for themselves by generating increased growth and government revenues over the next decade.

“Not only will this tax plan pay for itself but it will pay down debt,” Treasury Secretary Steven Mnuchin famously boasted in September. But his own department’s analysts now peg the 10-year cost at $2.3 trillion given the administration’s assumption that tax breaks for individuals and large estates will be extended past 2025.
For the years 2018 to 2027, the shortfall ranges from $1 trillion to $1.3 trillion. In measuring for 2019 to 2028, the picture improves, but the 10-year shortfall still is between $700 billion to $1.1 trillion.

Now throw covid into the picture it gets even worse.

 

[Crepitus]

Heck, what's $350 Billion/year between friends?

As far as the Federal budget is concerned it's chicken feed.

 

[Lesh]

It also includes free junior college for illegals.
Making tax increases retroactive which is unconstitutional.

Sounds suspiciously like the "DEATH PANELS!!!" claim from the battle over the ACA.
ANYONE EVER SEEN A DEATH PANEL?
No? it was a right wing lie?

Ohhh

Lowering the age requirement on Medicare

OMG! That's horrible!

Newsflash, my wife retired at 62. Medicare doesn't kick in till 65. Most of her Social Security goes to paying for healthcare.

 

[LordBrownTrout]

And what made up that debt?

2T for Trump's tax cuts
Covid
Military spending
loss of revenue due to the 2008 crash
loss of revenue to to GOP austerity measures

How does that fit into your bullshit?

QE makes up about about 10 trillion of that. More than all you listed combined. Face it, the fed is pumping a 120billion a month into the economy to keep the corpse looking like bernie. The gravy aint gonna last too much longer.

 

[JWBooth]

Here's Why Democrats' $3.5 Trillion Legislation Isn't (Quite) As Big As It Sounds

It's a lot of money, but still less than the Great Society — and still not what they spend in Europe.

www.huffpost.com

In fact it includes Medicare and other items that save $1T.

Including savings on drug costs. Something long overdue

You delusional fucks come up with the funniest shit.

 

[The Original Tree]

Here's an idea...use that same logic....only instead of giving more tax cuts to corporations and billionaires...use that money on lowering the debt.

Nothing wrong with that so long as Congress is forced to submit and pass a balanced budget.

 

[ColonelAngus]

The state and local tax (SALT) deduction allows taxpayers of high-tax states to deduct local tax payments on their federal tax returns. The tax plan signed by President Trump in 2017, called the Tax Cuts and Jobs Act, instituted a cap on the SALT deduction. Starting with the 2018 tax year, the maximum SALT deduction available was $10,000.

Likely didn't impact the rich much and even with the added revenue states are still suffering from budget issues.


So, it STILL didn't pay for itself, even with the added revenue.

Between new cost estimates and the White House’s own budget numbers, the wheels are coming off Republican claims that President Donald Trump’s tax cuts will pay for themselves by generating increased growth and government revenues over the next decade.

“Not only will this tax plan pay for itself but it will pay down debt,” Treasury Secretary Steven Mnuchin famously boasted in September. But his own department’s analysts now peg the 10-year cost at $2.3 trillion given the administration’s assumption that tax breaks for individuals and large estates will be extended past 2025.
For the years 2018 to 2027, the shortfall ranges from $1 trillion to $1.3 trillion. In measuring for 2019 to 2028, the picture improves, but the 10-year shortfall still is between $700 billion to $1.1 trillion.

Now throw covid into the picture it gets even worse.

It is odd that the left want the full deductions restored to pre Trump levels.

If SALT deductions are not that big of a deal, why are Dems pushing to restore them?

 

[bendog]

Here's Why Democrats' $3.5 Trillion Legislation Isn't (Quite) As Big As It Sounds

It's a lot of money, but still less than the Great Society — and still not what they spend in Europe.

www.huffpost.com

In fact it includes Medicare and other items that save $1T.

Including savings on drug costs. Something long overdue

It's true that most of it can be paid for with tax increases on the very wealthy and Wall St trading that doesn't affect pensions or retirement. Whether the dems can actually pass that ... maybe not. The dems themselves killed medicare drug pricing.

The problem is that the dems are arguing about "size." "We'll never have a chance to do all this 'stuff' agiain." That should tell them that the progressive agenda is not really popular.

 

[Crepitus]

Get rid of all tax loopholes and exceptions made for Congress.
Eliminate Lobbyists, and gifts.
There should be no profiteering from public office while you are in office.
Ban insider trading for Congress
Produce a balanced budget amendment to The Constitution.

Holy hell you said something that actually made sense!!

I think I need to lay down or something...

 

[Uncensored2008]

Here's Why Democrats' $3.5 Trillion Legislation Isn't (Quite) As Big As It Sounds

It's a lot of money, but still less than the Great Society — and still not what they spend in Europe.

www.huffpost.com

In fact it includes Medicare and other items that save $1T.

Including savings on drug costs. Something long overdue

Leech lies again - using the radial hate site Huffing Glue.

How much is 3.5 trillion? Using $1 bills stacked end to end, we could reach from Earth to the Sun.

11 times.

If laid on pallets using standard currency staking, the pallets could be seen from the moon, without a telescope.

 

[Lesh]

QE makes up about about 10 trillion of that. More than all you listed combined. Face it, the fed is pumping a 120billion a month into the economy to keep the corpse looking like bernie. The gravy aint gonna last too much longer.

Chicken Littles have been claiming similar things for decades.

NEVER believe Republicans about financial matters...or much of anything...because all they really care about are tax cuts for the rich

 

[Lesh]

Holy hell you said something that actually made sense!!

I think I need to lay down or something...

Except for the balanced budget. As good as that sounds it would be a disaster.

 

[LordBrownTrout]

Chicken Littles have been claiming similar things for decades.

NEVER believe Republicans about financial matters...or much of anything...because all they really care about are tax cuts for the rich

I don't believe either of these two lying manipulating worthless parties.

 

[Crepitus]

Except for the balanced budget. As good as that sounds it would be a disaster.

Yeah, not really feasible.

 

[Flash]

Here's Why Democrats' $3.5 Trillion Legislation Isn't (Quite) As Big As It Sounds

It's a lot of money, but still less than the Great Society — and still not what they spend in Europe.

www.huffpost.com

In fact it includes Medicare and other items that save $1T.

Including savings on drug costs. Something long overdue

Fuck you Moon Bat. You stupid uneducated greedy little Libtard shits never understand the damage you do to this country. You are clueless.

 

[Smokin' OP]

Remember Trump as a SOTU address asking for infrastructure legislation and the Prog stanky broads wearing their same colored dresses with their hands underneath their hands.? I do.

No.
I never watch that crap.