Live on CNN, attempt to go at Trumps debt comment yesterday and they get it wrong

Discussion in 'USMB Breaking News' started by shockedcanadian, Oct 12, 2017 at 11:06 AM.

  1. shockedcanadian
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    shockedcanadian Gold Member

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    So CNN replayed Trumps comment about the gain in the stock market and debt, something we spoke about on here.

    However, they tried to be smart by playing one of their economic experts, who frankly got it wrong as well. She of course, tried to show how smart she was by trying to hit at his base. It went as follows:

    "That's not how the stock market works, the trillions in debt is already spent....there are two ways to lower the debt, to lower costs or to increase taxes. Is Trump going to increase taxes?".

    So, a wise crack meant to suggest to Trump supporters, he is lowering taxes, so debt won't be lowered. Of course, as it is CNN, one would expect them to position it like this, but this expert forgot a few important issues, you don't have to raise taxes to increase revenue, this is where JOBS make a huge difference.

    If you increase jobs and expand the work force and thus the volume of taxpayers, you could theoretically raise more funds due to the numbers even at a lower rate. It goes much deeper though, as now you have a person who was a dependent on the state to be a contributor of revenue. As an important risidual result, these same workers spend money at companies who will have also now enjoy higher revenue and pay taxes.

    She also missed another issue: tariffs. It may not be popular right now, as Paul Ryans motion didn't pick up traction, but if Trump gets out of NAFTA, Canada and Mexico will have jobs lost and returned to America, and, there will be tariffs costs to those jobs in Canada and Mexico.

    People call this protectionism without really appreciating heavy protectionism. State ownership, undue influence and covert management and tampering within the company is more destructive to businesses, and it goes unnoticed and unreported. Canada, as I've stated before, engages in this heavily, as I imagine the MotherLand in England does.
     
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    Last edited: Oct 12, 2017 at 11:58 AM
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Increase taxes, not increase revenues? What a moron!
     
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  3. SassyIrishLass
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    SassyIrishLass Diamond Member

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    I don't know why anyone would trust CNN at this point
     
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  4. OnePercenter
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    OnePercenter Gold Member

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    CNN did a great job in calling out Trump on his lip service.
     

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