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

[Orangecat]

Leave it to a teabagger, to equate a slice of pizza to sex.
That is on their book ban list.............how to make Pizza.

 

[westwall]

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tax filing waivers related to extreme weather events, the impact of a student loan forgiveness program that was later rescinded, or a dip in capital gains receipts—progressive tax experts say none of those complexities should act to shield what's at the heart of a budget that brings in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 !!

I love how you blissfully skip over obummer. Dishonest, you are.

 

[Markle]

What year was this. Defense spending is usually less than 20 percent.

His useless post only includes discretionary spending, for whatever reason, he overlooked all our other spending.

 

[Independentthinker]

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 !!

Tax revenues increased after the Trump tax cuts. As always, it is spending which is way out of control.

 

[skews13]

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

That's what the article is about. Taking the tax cuts back, that you stole from the working class, that carries you candy ass moochers.

Tax cuts are for working people. Not trust fund babies that never worked a day in their soft serve ass lives, or investors who were born on third, and think they hit a triple.

 

[Billiejeens]

Two tax cuts, one decades ago, that both increased revenue is the cause of Taters dismal numbers in 2023?

Seriously, STFU moron.

They will never accept that reduction in tax rates causes an increase in tax revenue.
Every time that it's tried.
Blame our education system and the Democrat Media Bubble Cult.

 

[Nostra]

That's what the article is about. Taking the tax cuts back, that you stole from the working class, that carries you candy ass moochers.

Tax cuts are for working people. Not trust fund babies that never worked a day in their soft serve ass lives, or investors who were born on third, and think they hit a triple.

Every tax payer got a tax cut by Trump. You might know that if you weren’t such a leech on society and actually had a job.

 

[Billiejeens]

Neither one of them did that.

That is simply a lie creepy one.

 

[BluesLegend]

That's what the article is about. Taking the tax cuts back, that you stole from the working class, that carries you candy ass moochers.

Tax cuts are for working people. Not trust fund babies that never worked a day in their soft serve ass lives, or investors who were born on third, and think they hit a triple.

It's about taking MY money, I earned? Wait a minute...yeah piss off home all of you!

 

[Billiejeens]

That's what the article is about. Taking the tax cuts back, that you stole from the working class, that carries you candy ass moochers.

Tax cuts are for working people. Not trust fund babies that never worked a day in their soft serve ass lives, or investors who were born on third, and think they hit a triple.

Your are simply an uninformed idiot.

 

[Billiejeens]

This is how the OP would like to see things.

The OP is a lunatic.

 

[Nostra]

The OP is a lunatic.

You owe lunatics everywhere an apology.

 

[Billiejeens]

You owe lunatics everywhere an apology.

SAWRY!

 

[Markle]

They will never accept that reduction in tax rates causes an increase in tax revenue.
Every time that it's tried.
Blame our education system and the Democrat Media Bubble Cult.

In my opinion...that is due in large part that the CBO only does static forecasts and not dynamic forecasts, they are not allowed. They are like an old calculator, they can only deal with the figures they are given. With a dynamic calculation, they would be able to include the increase in income from a decrease in taxes.

They abore the Laffer Curve.

 

[Crepitus]

That is simply a lie creepy one.

But it's not.

 

[Nostra]

But it's not.

Prove it. Show us the revenue figures after the Trump across the board tax cuts.

Second time I challenged you to do this. No doubt you will run away again, Wimp.

 

[Billiejeens]

Prove it. Show us the revenue figures after the Trump across the board tax cuts.

Second time I challenged you to do this. No doubt you will run away again, Wimp.

It's got three chances.

JFK
Bush
Trump.

 

[sartre play]

FACT. As long as we spend all our time attacking each other,
Those with the power & money will keep ripping us off,
Because we are not paying attention.

 

[sartre play]

In my opinion...that is due in large part that the CBO only does static forecasts and not dynamic forecasts, they are not allowed. They are like an old calculator, they can only deal with the figures they are given. With a dynamic calculation, they would be able to include the increase in income from a decrease in taxes.

They abore the Laffer Curve.

Photo of the least educated biggest Bull SHI%%% PILE of misinformation thrown out there in a very long time.

 

[YoursTruly]

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 !!

Tax cuts, artificially low interest rates and huge spending increases. Something both parties are guilty of.