Trump King of Debt--makes GOP fret

Discussion in 'Politics' started by oreo, Oct 21, 2017.

  1. oreo
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    oreo Gold Member Supporting Member

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    "(CNN)As a New York businessman, Donald Trump proudly referred to himself as the "King of Debt" -- he thrived on taking financial risks and routinely leveraged debt to grow his family empire."I'm the king of debt. I love debt," Trump told CNN's Wolf Blitzer in May 2016 at the height of the campaign -- blunt and telling comments that revealed just how comfortable the real estate mogul was in using debt as a financial tool. But now, the mindset behind that nickname is aggravating some of the President's Republican colleagues in Washington.
    As GOP lawmakers are struggling to enact an agenda of spending and tax reform, they continue to face the painful reminder that Trump has no ideological drive to tame the deficit. The President has made clear that he doesn't mind if deep tax cuts result in a ballooning of the national debt. He is not pre-occupied with offsetting new spending; and he is entirely comfortable with a clean raising of the debt ceiling."
    Trump, 'King of Debt,' makes GOP fret - CNNPolitics

    As we know he is also the "King of Bankruptcy's" and has no problem with them as long as banks and investors are stuck holding bag.
    Donald Trump's business failures: a comprehensive guide

    While Republicans are worried about this, they're not much better, especially after this tax cut bill they're spinning as a middle class tax cut. It's not, it's a large corporation tax cut.

    Here is the CNN debate on this between Sander & Cruz.


    1. Small business's are typically sub-S corporations--meaning they are taxed at the individual rate, not the large corporation rate, so a tax cut like this isn't going to do diddly sqwat for them.
    2. The economy is already doing well--it doesn't need any stimulation.
    3. Middle class will get a tax cut that amounts to an extra loaf of bread and a gallon of milk a week.
    4. Cutting billions out of Medicare/Medicade to pay for this tax cut is a crock of crap.
    5. Large Corporations move overseas to avoid payroll and payroll taxes, and giving them a Federal tax break of 15% is not going to keep jobs here.
    6. They're ignoring that 21 TRILLION dollar deficit.

    This is just an effort to keep a campaign promise, since they haven't been able to pass anything. I'll tell you conservatives have flushed their fiscal responsiibility down the toilet, in order to satiate the appetite of the right wing ignorant in this country. Just like they have been campaigning about repealing & replacing Obamacare for 7 long years, they have also been just as adamant about the deficit, and then they pull this stunt.

    [​IMG]
    Republicans couldn't manage a corner lemonade stand. Vote them out of office in 2018.


     
    Last edited: Oct 21, 2017
  2. oreo
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    oreo Gold Member Supporting Member

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    Finally no right wingers running in here to defend this.
     
  3. Dragonlady
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    Dragonlady Designing Woman

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    Giving that the budget just passed will result in a 15 trillion dollar deficit, there's really no defence for them. Especially after 8 years of complaining bitterly about Obama's deficits and increases in the national debt.

    It's not like they weren't warned that everything Trump proposed would increase the deficit, especially tax cuts. But right wingers have that magical thinking whereby tax cuts pay for themselves via increased growth. It hasn't happened yet, but they're sure it will this time.
     

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