Tax cuts and the need for cuts to SS, Medicare, Medicaid, Hud, and Snap

[Penelope]

President Trump’s corporate tax cuts will likely generate enormous deficits, even if the administration’s rosiest economic forecasts come true, setting Republicans up to claim that the time has come to cut Social Security, Medicare, and welfare to reduce the expected $1 trillion deficit, created by those very tax cuts, over the next 10 years.

Speaker of the House Paul Ryan has already announced that the GOP plans to cut federal health care and anti-poverty programs because of a deficit that his party is about to balloon. “We’re going to have to get back next year at entitlement reform,” he said on a talk-radio show, “which is how you tackle the debt and the deficit.”

(snip)

Fast forward to 1990, when President George H. W. Bush took the controversial step of agreeing to support a tax increase as part of a broad, $492 million deficit-reduction package. The deficit had skyrocketed from $153 billion in fiscal year 1989 to $221 billion the following year. Breaking with his famous campaign pledge, “Read my lips, no new taxes,” he triggered an open revolt from Republicans such as then-Congressman Newt Gingrich, who would never forgive the president. “Read My Lips: I Lied” blared the headline of the New York Post, capturing the anger of many conservatives. He agreed to raise the top marginal rate from 28 to 31 percent. House Republicans overwhelmingly voted against the measure by a 126 to 47 margin. But the pressures to curb the deficit were such that the president felt he had no choice. “I paid a big price for that,” Bush said years later. The political turmoil that ensued has made it extremely difficult for any Republican president since to propose raising taxes.

Blowing Up the Deficit Is Part of the Plan
--------------------------------------------------------------------------------------------------------------------

Did Bush Sr have a choice, not after Reagan created a large deficit with his tax cuts. Did Clinton have a choice no. Did Obama have a choice except to bail out all these companies, NO, this is what the GOP does.

The budget for fiscal year 2019 is out and increases for military, vets, and homeland security take preference, and cuts to all social programs, which have already started.

 

[Mikeoxenormous]

President Trump’s corporate tax cuts will likely generate enormous deficits, even if the administration’s rosiest economic forecasts come true, setting Republicans up to claim that the time has come to cut Social Security, Medicare, and welfare to reduce the expected $1 trillion deficit, created by those very tax cuts, over the next 10 years.

Speaker of the House Paul Ryan has already announced that the GOP plans to cut federal health care and anti-poverty programs because of a deficit that his party is about to balloon. “We’re going to have to get back next year at entitlement reform,” he said on a talk-radio show, “which is how you tackle the debt and the deficit.”

(snip)

Fast forward to 1990, when President George H. W. Bush took the controversial step of agreeing to support a tax increase as part of a broad, $492 million deficit-reduction package. The deficit had skyrocketed from $153 billion in fiscal year 1989 to $221 billion the following year. Breaking with his famous campaign pledge, “Read my lips, no new taxes,” he triggered an open revolt from Republicans such as then-Congressman Newt Gingrich, who would never forgive the president. “Read My Lips: I Lied” blared the headline of the New York Post, capturing the anger of many conservatives. He agreed to raise the top marginal rate from 28 to 31 percent. House Republicans overwhelmingly voted against the measure by a 126 to 47 margin. But the pressures to curb the deficit were such that the president felt he had no choice. “I paid a big price for that,” Bush said years later. The political turmoil that ensued has made it extremely difficult for any Republican president since to propose raising taxes.

Blowing Up the Deficit Is Part of the Plan
--------------------------------------------------------------------------------------------------------------------

Did Bush Sr have a choice, not after Reagan created a large deficit with his tax cuts. Did Clinton have a choice no. Did Obama have a choice except to bail out all these companies, NO, this is what the GOP does.

The budget for fiscal year 2019 is out and increases for military, vets, and homeland security take preference, and cuts to all social programs, which have already started.

Plenty of money here, that could be stopped, get lazy fucking liberals off their couches and back in the roaring economic recovery that Obama left President Trump, right? Take the Trillion Dollars a year , put it to the debt and in 21 years the debt is gone....

War on poverty cost
The War on Poverty has cost $22 trillion -- three times more than what the government has spent on all wars in American history. Federal and state governments spend $1 trillion in taxpayer dollars on America's 80 means-tested welfare programs annually.
The War on Poverty Has Cost $22 Trillion
www.ncpa.org/sub/dpd/index.php?Article_ID=25288