Federal Gov't Will Be Unable To Pay All Bills Sooner Than Expected, due to new tax law

[nat4900]

It would have been a bit more "honest" if Trump in his SOTU would have stated at the end..."....by the way, enjoy those temporary tax breaks, middle class, because the reality is that we're really broke...."

Whose fault would that be?

Democrats, who managed to double to the debt very recently, and supported social security, medicaid, medicare that are in the hole to the tune of 150 trillion dollars. All in the name of free shit, that you can't get enough of worshiping.

That's who.

That's BS; more like "W's" credit card debt showing up during Obama's admin. era with more tax cuts and the continuation of his wars started 15 years ago! That's hardly on Obama; just presided over it! He had a fairly successful admin. and no matter what Trump does trying to eliminate any trace of him it won't work!

The democrats had control, but somehow it's not their fault?

Strange aversion of responsibility, blame yourself.

So Trump and Reps control it all now and we're still going broke! What about that? Look before you leap please!

Now, expect Trump to ask for a couple of TRILLIONS for infrastructure spending....long needed.......but can only now be funded by borrowing.

 

[Leo123]

Now, expect Trump to ask for a couple of TRILLIONS for infrastructure spending....long needed.......but can only now be funded by borrowing.

No problem, tax revenues will increase.

 

[nat4900]

No problem, tax revenues will increase.

Stupid Trump cultists will always reject history's lessons....

Do tax cuts pay for themselves? Evidence is thin | PunditFact - PolitiFact

If You Cut Taxes, Will Revenues Increase? Are You Kidding?

 

[Fiero425]

Now, expect Trump to ask for a couple of TRILLIONS for infrastructure spending....long needed.......but can only now be funded by borrowing.

No problem, tax revenues will increase.

In your dreams! Recession and another Depression in the works! I feel sorry for you suckers! Your kids and g-kids will be paying for your incompetence! Lucky I'm old and have given up on people ignorant enough to put such a loon in charge! Good luck with that!

 

[Bootney Lee Farnsworth]

Federal Gov't Will Be Unable To Pay All Bills Sooner Than Expected, due to new tax law

Good.

 

[Bootney Lee Farnsworth]

Cut spending.

This.

 

[Leo123]

Now, expect Trump to ask for a couple of TRILLIONS for infrastructure spending....long needed.......but can only now be funded by borrowing.

No problem, tax revenues will increase.

In your dreams! Recession and another Depression in the works! I feel sorry for you suckers! Your kids and g-kids will be paying for your incompetence! Lucky I'm old and have given up on people ignorant enough to put such a loon in charge! Good luck with that!

Where is your proof?

 

[Leo123]

No problem, tax revenues will increase.

Stupid Trump cultists will always reject history's lessons....

Do tax cuts pay for themselves? Evidence is thin | PunditFact - PolitiFact

If You Cut Taxes, Will Revenues Increase? Are You Kidding?

Poorlittle post-modern, neo-Marxists who exist on government cheese....

Forbes Welcome

First, as the graph illustrates, as tax rates declined, government revenue increased. Second, there is a strong negative correlation between the two. To review, correlation measures the relationship between two sets of data. The scale ranges from negative one to positive one. A correlation of positive one indicates that the two data sets move in concert with each other. A correlation of negative one indicates that as one set of data moves up, or down, the other moves in the opposite direction. Using the data from 1913 through the end of 2011, the correlation between the maximum marginal income tax bracket and total Federal receipts is a negative 0.50. In simple terms, when taxes are cut, Federal revenue has a very strong tendency to rise! And when taxes are raised, government revenue has a strong tendency to fall.

 

[Bootney Lee Farnsworth]

 

[peach174]

Well if the CBO would start doing it's job and get the information out to congress that they have been asking for, then they can get things done.
Every time he goes before the committee meetings he uses excuses.

 

[Harpy Eagle]

It would have been a bit more "honest" if Trump in his SOTU would have stated at the end..."....by the way, enjoy those temporary tax breaks, middle class, because the reality is that we're really broke...."

Whose fault would that be?

Democrats, who managed to double to the debt very recently, and supported social security, medicaid, medicare that are in the hole to the tune of 150 trillion dollars. All in the name of free shit, that you can't get enough of worshiping.

That's who.

That's BS; more like "W's" credit card debt showing up during Obama's admin. era with more tax cuts and the continuation of his wars started 15 years ago! That's hardly on Obama; just presided over it! He had a fairly successful admin. and no matter what Trump does trying to eliminate any trace of him it won't work!

The democrats had control, but somehow it's not their fault?

Strange aversion of responsibility, blame yourself. They doubled the debt and supported the war on almost every step.

Sort of like how now the Repubs have control of it all, yet to you none of it is their fault. Damn partisan zealots are all the same


Sent from my iPhone using USMessageBoard.com

 

[Harpy Eagle]

No problem, tax revenues will increase.

Stupid Trump cultists will always reject history's lessons....

Do tax cuts pay for themselves? Evidence is thin | PunditFact - PolitiFact

If You Cut Taxes, Will Revenues Increase? Are You Kidding?

Poorlittle post-modern, neo-Marxists who exist on government cheese....

Forbes Welcome

First, as the graph illustrates, as tax rates declined, government revenue increased. Second, there is a strong negative correlation between the two. To review, correlation measures the relationship between two sets of data. The scale ranges from negative one to positive one. A correlation of positive one indicates that the two data sets move in concert with each other. A correlation of negative one indicates that as one set of data moves up, or down, the other moves in the opposite direction. Using the data from 1913 through the end of 2011, the correlation between the maximum marginal income tax bracket and total Federal receipts is a negative 0.50. In simple terms, when taxes are cut, Federal revenue has a very strong tendency to rise! And when taxes are raised, government revenue has a strong tendency to fall.

Whoever wrote that article cearly flunked out of Stats 101 and never took another math class.

There is no correlation shown on this graph. If there were a correlation then when the tax rate stayed the same revenue would have also been flat, but that is not the case. Also the two dips in revenue shown on the graph are not related to any tax rate movement, so again no correlation. And the only rise in tax rates on the graph has no corresponding dip in revenue.

I am embarrassed for the guy that wrote the article and embarrassed for you not knowing enough to see through the bullshit.

 

[nat4900]

In simple terms, when taxes are cut, Federal revenue has a very strong tendency to rise! And when taxes are raised, government revenue has a strong tendency to fall.

Yes......because EVERYONE knows that when a family gets an INCOME CUT........somehow they will have more money to spend on renovating their home.........As G.H. Bush said, this "logic" is aptly called "voodoo economics"

 

[peach174]

In simple terms, when taxes are cut, Federal revenue has a very strong tendency to rise! And when taxes are raised, government revenue has a strong tendency to fall.

Yes......because EVERYONE knows that when a family gets an INCOME CUT........somehow they will have more money to spend on renovating their home.........As G.H. Bush said, this "logic" is aptly called "voodoo economics"

Our GDP is quickly catching up to our debt.
19.6 trillion
Debt
20.6 trillion

 

[mikegriffith1]

This is comical. We somehow managed to pay our bills while Obama was piling up $7.9 trillion in new debt in 8 years. But, now we're gonna run out of money sooner because of a $1.5 trillion tax cut that's already generated over $100 billion in new revenue in its first *month* from the repatriation tax on money being brought back to the U.S. from overseas.