$10 Trillion In Added Debt Shows Bush And Trump Tax Cuts Broke Our Modern Tax Structure

[Smokin' OP]

Exactly. Not only was outsider Trump continually harrassed, distracted and given zero support. The Trump years were ~2 years total to try to get things straightened out

WTF?
Trying to "straighten out" the retards slice?

Donald Trump arrives at Mar-a-Lago for 31st golf vacation ...​

MEAWW
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Dec 24, 2020 — The hefty amount of $151.5 million suggested that Trump has used money equivalent to 379 years of presidential salary despite him and his ...

FACT FOCUS: Who's to blame for the national debt? It's ...​

AP News
https://apnews.com › article › fact-check-national-debt...
May 18, 2023 — That rose to about $26.9 trillion at the end of fiscal year 2020, or a $7.4 trillion increase, just before Trump left office. The debt added ...

 

[1srelluc]

This is how the OP would like to see things.

 

[Woodznutz]

Its a TOO MUCH SPENDING PROBLEM.

Not a TOO LITTLE TAXES PROBLEM.

If the Fed stole $30 trillion from US citizens every year, they would spend $40 trillion.

If we look honestly at how it's being spent, I think we would find the rat(s) in the woodpile.

"I have met the enemy, and he is (gasp) US! -Pogo

 

[Godboy]

Disingenuous OP is disingenuous. Completely disregards 8 years of Obama and 3 years of Obiden policies, cannot

and should not be taken seriously.

It also disregards the Trump presidency when Pelosi's Congress spent TRILLIONS!

 

[skews13]

IOW, you don't like that facts presented in the article.

"The point I want to make again and again and again is that, relative to the last time CBO was projecting stable debt/GDP, spending is down, not up," Kogan said in a tweet Friday night. "It's lower revenue that's 100% responsible for the change in debt projections. If you take away nothing else, leave with this point."

Do we need to address spending in an effort to reduce the deficit? Absolutely. Is spending only one aspect of the problem? Absolutely.

 

[struth]

The U.S. Treasury Department on Friday released new figures related to the 2023 budget that showed a troubling drop in the nation's tax revenue compared to GDP—a measure which fell to 16.5% despite a growing economy—and an annual deficit increase that essentially doubled from the previous year.

After record U.S. government spending in 2020 and 2021" due to programs related to the economic fallout from the Covid-19 crisis, the Washington Post reports, "the deficit dropped from close to $3 trillion to close to $1 trillion in 2022. But rather than continue to fall to its pre-pandemic levels, the deficit unexpectedly jumped this year to roughly $2 trillion."

While much of the reporting on the Treasury figures painted a picture of various and overlapping dynamics to explain the surge in the deficit—including higher payments on debt due to interest rates, tax filing waivers related to extreme weather events, the impact of a student loan forgiveness program that was later rescinded, or a dip in capital gains receipts—progressive tax experts say none of those complexities should act to shield what's at the heart of a budget that brings in less than it spends: tax giveaways to the rich.

$10 trillion in added debt shows 'Bush and Trump tax cuts broke our modern tax structure'

The U.S. Treasury Department on Friday released new figures related to the 2023 budget that showed a troubling drop in the nation's tax revenue compared to GDP — a measure which fell to 16.5% despite a growing economy — and an annual deficit increase that essentially doubled from the previous...

www.rawstory.com

View attachment 846804


WE DID THAT !!

More deflection, spin and propaganda to deflect from the horrible economy caused by Xiden and the demafacsist policies.

 

[Nostra]

Here are the budget numbers Tater has proposed:

Spending starting in 2024 (in TRILLIONS):

$6.8
$7.0
$6.2
$7.5
$8.0
$8.2
$8.6
$9.0
$9.4
$10

Deficits each year( in TRILLIONS)

$1.8
$1.6
$1.5
$1.5
$1.6
$1.5
$1.6
$1.7
$1.8
$2.0



National debt Tater has proposed taking us to:

$43,619,000,000,000


And in the same document Tater claims he is cutting the deficit by $3 TRILLION.

https://www.whitehouse.gov/wp-content/uploads/2023/03/budget_fy2024.pdf

 

[BluesLegend]

$10 Trillion In Added Debt Shows Bush And Trump Tax Cuts Broke Our Modern Tax Structure​

A big fat lie. You people refuse to cut spending, then increased spending on top of that. Keeping more of MY money I earned isn't the problem. It's you mooching greedy deadbeat sponges. Get a job and pay your share you useless parasites.

 

[skews13]

IOW, you don't like that facts presented in the article.

"The point I want to make again and again and again is that, relative to the last time CBO was projecting stable debt/GDP, spending is down, not up," Kogan said in a tweet Friday night. "It's lower revenue that's 100% responsible for the change in debt projections. If you take away nothing else, leave with this point."

Do we need to address spending in an effort to reduce the deficit? Absolutely. Is spending only one aspect of the problem? Absolutely.

 

[Woodznutz]

Some sources say that anything under 77 percent debt-to-GDP is ok. We're at 127 percent...YIKES!

 

[Nostra]

View attachment 846842

Weird, cuz revenues went up after those tax cuts were enacted.

 

[Mac-7]

It is increased spending that is the problem

 

[BluesLegend]

I think Dems should lead by example. Voluntarily pay more taxes, write a check today to government. Prove you believe in higher taxes.

No? Yeah that's what we thought.

 

[skews13]

It is increased spending that is the problem

 

[skews13]

I think Dems should lead by example. Voluntarily pay more taxes, write a check today to government. Prove you believe in higher taxes.

No? Yeah that's what we thought.

 

[JWBooth]

$10 Trillion In Added Debt Shows Bush And Trump Tax Cuts Broke Our Modern Tax Structure​

Fuck that. The failure to restrict spending within the level of receipts is what has broke this shit.

 

[skews13]

I think Dems should lead by example. Voluntarily pay more taxes, write a check today to government. Prove you believe in higher taxes.

No? Yeah that's what we thought.

 

[Captain Caveman]

The U.S. Treasury Department on Friday released new figures related to the 2023 budget that showed a troubling drop in the nation's tax revenue compared to GDP—a measure which fell to 16.5% despite a growing economy—and an annual deficit increase that essentially doubled from the previous year.

After record U.S. government spending in 2020 and 2021" due to programs related to the economic fallout from the Covid-19 crisis, the Washington Post reports, "the deficit dropped from close to $3 trillion to close to $1 trillion in 2022. But rather than continue to fall to its pre-pandemic levels, the deficit unexpectedly jumped this year to roughly $2 trillion."

While much of the reporting on the Treasury figures painted a picture of various and overlapping dynamics to explain the surge in the deficit—including higher payments on debt due to interest rates, tax filing waivers related to extreme weather events, the impact of a student loan forgiveness program that was later rescinded, or a dip in capital gains receipts—progressive tax experts say none of those complexities should act to shield what's at the heart of a budget that brings in less than it spends: tax giveaways to the rich.

$10 trillion in added debt shows 'Bush and Trump tax cuts broke our modern tax structure'

The U.S. Treasury Department on Friday released new figures related to the 2023 budget that showed a troubling drop in the nation's tax revenue compared to GDP — a measure which fell to 16.5% despite a growing economy — and an annual deficit increase that essentially doubled from the previous...

www.rawstory.com

View attachment 846804


WE DID THAT !!

The tax cuts were so wrong, on day one, Biden reversed them..... didn't he?

 

[BluesLegend]

Biden adds $2 trillion the debt, OP is silent.

 

[BluesLegend]

View attachment 846851

You mooching dead weight Dems could cut the deficit to $0 today, just write a check to Congress.