Forbes: GOP tax Cut Start of Decades-Long Economic Disaster unlike any other Historically

[ScienceRocks]

BREAKING: Tax bill will repeal the individual mandate: - 13 million more uninsured - $1,990 premium tax - Insurer exodus from markets ALL TO PAY FOR TAX CUTS FOR CORPORATIONS AND MILLIONAIRES

 

[Likkmee]

I know.Truth forbidden
Why The Founding Fathers Were Broke | Femme Frugality

 

[Sunni Man]

Our beloved Pres. Trump knows what is best for America. ....

 

[AntonToo]

Our beloved Pres. Trump knows what is best for America. ....

You should change your screen name to TOOL MAN.

Trump's knowledge ends at what is best for Trump.

This tax reform? VERY good for Trump.

 

[sartre play]

Richest 85 people have as much money as the poorest 350 BILLION people, lets give them a tax cut on the off chance they will make a few jobs.

 

[C_Clayton_Jones]

‘The GOP tax bill will increase the federal deficit by $2 trillion or more over the next decade…’

So much for ‘fiscally responsible’ Republicans.

Republican economic policy is the definition of insanity: doing the same thing over again expecting different results.

The ‘trickle down’ canard failed 30 years ago and it will fail again today.

 

[TNHarley]

Richest 85 people have as much money as the poorest 350 BILLION people, lets give them a tax cut on the off chance they will make a few jobs.

350 BILLION? FUCK thats a lot of people.

 

[The Irish Ram]

This my democractic friends is what we should be focusing all of our attention on! It is bad for the poor, the working class and everyone that isn't rich.

It will fuck with us for decades and make it hard to repair the damage the republican rich shoelong lovers are doing.

Since you haven't read the tax bill, I am guessing this is one of those,
say what you are told and hope it sticks moments. Not unlike,
the great stock exchange collapse if Trump is elected....

 

[TNHarley]

How are the poor going to be paying that much?

 

[Sunni Man]

350 BILLION? FUCK thats a lot of people.

He must be including Earth and several other planets in other solar systems. .....

 

[NightFox]

Richest 85 people have as much money as the poorest 350 BILLION people, lets give them a tax cut on the off chance they will make a few jobs.

350 BILLION? FUCK thats a lot of people.

Uh-Huh, LeftWingTopia has a severe "imaginary friends and voices in my head" overpopulation problem.

 

[Cellblock2429]

Forbes federal budget expert condemns GOP tax bill: The end of all economic sanity in Washington

Forbes contributor Stan Collender, an expert who has spent his career working with the federal budget, warned over the weekend that the Republican tax bill would be a disaster for the American economy.

In a piece published on Sunday, Collender argues that “the GOP tax cut now working its way through Congress will be the start of a decades-long economic policy disaster unlike any other that has occurred in American history.”

According to Collender, there is “no economic justification whatsoever for a tax cut at this time.”

U.S. GDP is growing, unemployment is close to 4 percent (below what is commonly considered “full employment”), corporate profits are at record levels and stock markets are soaring. It makes no sense to add any federal government-induced stimulus to all this private sector-caused economic activity, let alone a tax cut as big as this one.

Collender, who worked on both the House and Senate Budget Committees, says that the economy is ripe for raising additional tax revenue.

“The GOP tax bill will increase the federal deficit by $2 trillion or more over the next decade (the official estimates of $1.5 trillion hide the real amount with a witches brew of gimmicks and outright lies) that, unless all the rules have changed, is virtually certain to result in inflation and much higher interest rates than would otherwise occur.”

Forbes federal budget expert condemns GOP tax bill: ‘The end of all economic sanity in Washington’

This is economic insanity! To reward the cheaters and fuck over the worker is pure bs and needs to be stopped at all cost.

/-----/ Collender is a full fledged liberal from Berkley.

 

[Sunni Man]

Trump's knowledge ends at what is best for Trump.

What is best for Trump is best for America. .....

 

[ScienceRocks]

 

[ScienceRocks]

Call your Senator and tell them to vote no! Stand up to the fucking rich!!!

 

[AntonToo]

Trump's knowledge ends at what is best for Trump.

What is best for Trump is best for America. .....

You are an idiot.

Trump signs himself a nice fat tax break and signs into law two trillion dollar deficit over the next decade - how the fuck is that good for America?

 

[deanrd]

Come on. We heard the same thing about the Bush Tax cuts and look at what happened in 2008.

Huh?

What?

It did?

Oops!

OK,

Never mind.

 

[Sunni Man]

Trump is America!! .....

 

[Kosh]

Economic growth has never paid for tax cuts.

Unless you count all the times it did, which is pretty much every single time

It didn’t happen under Reagan and it didn’t happen under Bush.

Except that it did.

While there was some increase in revenue they didn’t happen because of tax cuts, they happened because of massive increases in government spending on military the that accompanied the tax cuts. And even those increases weren’t nearly enough to cover the cost of the tax cuts.

Explain how massive increases in military spending created additional revenue? You have it quite backwards. It was the massive military spending that cause the higher deficits despite the additional revenue.

Hiring in the defence industry increased employee withholding taxes paid to Washington. Increased corporate profits in the defence industry increased their corporate taxes as well.

As for the effect on the economy:

FACT CHECK: Do Tax Cuts Grow The Economy?

See the overly biased Fact checker from a far left idiot!

They forget about JFK, Carter and Reagan!

Silly far left drone!

 

[Kosh]

So what do the GOP tax supporter have to argue against this Forbes Report ...?

This is actually the ideal time for Washington to be doing the opposite. But by damning the economic torpedoes and moving full-speed ahead, House and Senate Republicans and the Trump White House are setting up the U.S. for the modern-day analog of the inflation-producing guns-and-butter economic policy of the Vietnam era. The GOP tax bill will increase the federal deficit by $2 trillion or more over the next decade (the official estimates of $1.5 trillion hide the real amount with a witches brew of gimmicks and outright lies) that, unless all the rules have changed, is virtually certain to result in inflation and much higher interest rates than would otherwise occur.

GOP Tax Bill Is The End Of All Economic Sanity In Washington

Well it goes to show the far left is reaching as they do not want to acknowledge that JFK and Carter did some of the biggest tax cuts in American History.