Aldo Raine
Gold Member
Sure did and tRump almost matched Obama's debt in 4 short years. Remember The Fat Orange Shit Giblet did say he was the king of debt. Then went out and proved it. So much MAGA there.
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GOP Unveils Bill To Make Trump Tax Cuts Permanent While Howling About Debt
- Thread starter skews13
- Start date
Independentthinker
Diamond Member
- Oct 15, 2015
- 20,482
- 16,683
- 2,288
UMmmmmmmmmmmmm, tax receipts increased after the Trump tax cuts.A group of more than 70 House Republicans introduced legislation this week that would make elements of the 2017 Trump tax cuts permanent, delivering a huge windfall to the rich and choking off more federal revenue at a time when Republican fearmongering over the national debt is at a fever pitch.
Led by Reps. Vern Buchanan (R-Fla.) and Michael McCaul (R-Texas), the TCJA Permanency Act, would cement into federal law tax cuts for individuals that are set to expire at the end of 2025.
The original 2017 tax law, the Tax Cuts and Jobs Act, made most of its corporate tax provisions permanent. In a statement Wednesday, the Biden White House said Trump and congressional Republicans "deliberately sunset portions of their tax giveaway" in order to "conceal how much their plan added to the debt."
According to a Congressional Budget Office (CBO) analysis released last year, extending the individual provisions of the Trump-GOP tax law would cost around $2.2 trillion through 2032. A separate Tax Policy Center analysis estimated that the extension would deliver an average tax cut of $175,710 to the richest 0.1%.
'Absolute hypocrisy': GOP unveils bill to make Trump tax cuts permanent while howling about debt
A group of more than 70 House Republicans introduced legislation this week that would make elements of the 2017 Trump tax cuts permanent, delivering a huge windfall to the rich and choking off more federal revenue at a time when Republican fearmongering over the national debt is at a fever...www.rawstory.com
Ain't happening. Not only does the complete package need to go away, and all of the tax cuts repealed, but after these criminals are removed from congress, the tax cuts for the corporate welfare trash needs to be repealed all the way back to 1980, and the tax rates, and regulations of the 1970's restored.
sartre play
Gold Member
- May 4, 2015
- 9,937
- 3,096
- 210
That's the real problem, we keep talking like one political party could fix everything,So we can keep spending and borrowing without limits? Fucking MORON.
Both parties keep running up the DEBT, now at $32T and climbing.
Interest on that Debt was $600b in 2022, and climbing. In 2023 it will exceed the $750b Defense Budget.
The US economy will collapse like Greece if we don't get our fiscal house in order.
Interest Costs on National Debt Jump at Start of Fiscal Year
As interest rates continue to rise, the federal government is spending more to service the national debt, the Treasury Department said Monday. According to the latest monthly Treasury statement, the U.S. made $103 billion in gross interest payments on the debt in the first two months of the 2023...finance.yahoo.com
When what we know is things continue down the same path no matter who sits on the throne.
When the credit rating agencies rate US debt as "junk" its too late.That's the real problem, we keep talking like one political party could fix everything,
When what we know is things continue down the same path no matter who sits on the throne.
Two things. In both cases, democrats were in power in the house (the purse strings), trump had to deal with a pandemic, states shutting down, and like half the country not working.Sure did and tRump almost matched Obama's debt in 4 short years. Remember The Fat Orange Shit Giblet did say he was the king of debt. Then went out and proved it. So much MAGA there.
I mean, I guess trump could have vetoed the stimulus bills for Covid…but then you would have blamed him for that too…
Not true. SS can pay 80% of promised benefits forever, its the small fix thats needed to pay full benefits.
1. Raise the cap
2. Raise the ages a year for those under 55 (two years for those under 35, if needed)
Simple fix.
SS can pay 80% of promised benefits forever
I already explained that you didn't pay enough at present levels.
its the small fix thats needed to pay full benefits.
Trillions is small?
Raise the cap
That results in higher benefits for the rich. That's not a fix.
Raise the ages a year for those under 55 (two years for those under 35, if needed)
That would actually help.
Mikeoxenormous
Diamond Member
No when the credit rating agencies rate the US debt as junk, then it becomes a turkey shoot.When the credit rating agencies rate US debt as "junk" its too late.
Aldo Raine
Gold Member
Two things. In both cases, democrats were in power in the house (the purse strings), trump had to deal with a pandemic, states shutting down, and like half the country not working.
I mean, I guess trump could have vetoed the stimulus bills for Covid…but then you would have blamed him for that too…
No, he actually asked for a BIGGER stimulus package. tRump like he said the king of debt. And that is so MAGA!
1. You're wrong. I'm right. Read the link. Prove your points with links. 80% is guaranteed. A small fix is all that is needed.SS can pay 80% of promised benefits forever
I already explained that you didn't pay enough at present levels.
its the small fix thats needed to pay full benefits.
Trillions is small?
Raise the cap
That results in higher benefits for the rich. That's not a fix.
Raise the ages a year for those under 55 (two years for those under 35, if needed)
That would actually help.
This is what the experts really want to see happen to fix Social Security
The clock is ticking when it comes to whether Social Security reform will happen before a reduction in benefits kicks in. Politicians have come up with their own proposals. But here's how the experts, who have spent countless hours studying the problem, would restore or overhaul it if they had...
www.cnbc.com
2. WHAT TRILLIONS??? Dumbass. Here's the democrat's "Social Security 2100 Act" fix. If the GOP doesn't save SS I'm switching parties, I'm not wealthy enough to be a Pub
This bill could extend Social Security's solvency for the rest of this century. Here's what stands in its way
Social Security will face a funding shortfall if nothing is done to change the system by 2035. At that point, the system will only be able to pay 80% of benefits. New legislation is aimed at changing that.
www.cnbc.com
It also calls for increased payroll contributions from workers and employers. That rate would increase to 7.4% from 6.2% and would be gradually phased in from 2020 to 2043. For the average worker, this would cost an estimated 50 cents more per week every year."
3. Raising the cap is a fix, dumbass. Their benefits are the same, they just pay a little more tax.
4. agreed.
Mikeoxenormous
Diamond Member
Back under Clinton, the big scare was that Social Security would run out by 2010....That was when i decided that i would amass my own fortune to use for retirement. If i get SS, that is just a few more bucks to buy groceries with....in Joe Biden's inflation economy...1. You're wrong. I'm right. Read the link. Prove your points with links. 80% is guaranteed. A small fix is all that is needed.
"Social Security will be able to pay out only about 80% of promised benefits starting in 2035 if no changes are made to the system, according to current projections."This is what the experts really want to see happen to fix Social Security
The clock is ticking when it comes to whether Social Security reform will happen before a reduction in benefits kicks in. Politicians have come up with their own proposals. But here's how the experts, who have spent countless hours studying the problem, would restore or overhaul it if they had...
2. WHAT TRILLIONS??? Dumbass. Here's the democrat's "Social Security 2100 Act" fix. If the GOP doesn't save SS I'm switching parties, I'm not wealthy enough to be a Pub
"In order to pay for those changes, the bill calls for raising payroll taxes on wages over $400,000. Wages up to $132,900 are currently taxed.This bill could extend Social Security's solvency for the rest of this century. Here's what stands in its way
Social Security will face a funding shortfall if nothing is done to change the system by 2035. At that point, the system will only be able to pay 80% of benefits. New legislation is aimed at changing that.
It also calls for increased payroll contributions from workers and employers. That rate would increase to 7.4% from 6.2% and would be gradually phased in from 2020 to 2043. For the average worker, this would cost an estimated 50 cents more per week every year."
3. Raising the cap is a fix, dumbass. Their benefits are the same, they just pay a little more tax.
4. agreed.
1. You're wrong. I'm right. Read the link. Prove your points with links. 80% is guaranteed. A small fix is all that is needed.
"Social Security will be able to pay out only about 80% of promised benefits starting in 2035 if no changes are made to the system, according to current projections."This is what the experts really want to see happen to fix Social Security
The clock is ticking when it comes to whether Social Security reform will happen before a reduction in benefits kicks in. Politicians have come up with their own proposals. But here's how the experts, who have spent countless hours studying the problem, would restore or overhaul it if they had...
2. WHAT TRILLIONS??? Dumbass. Here's the democrat's "Social Security 2100 Act" fix. If the GOP doesn't save SS I'm switching parties, I'm not wealthy enough to be a Pub
"In order to pay for those changes, the bill calls for raising payroll taxes on wages over $400,000. Wages up to $132,900 are currently taxed.This bill could extend Social Security's solvency for the rest of this century. Here's what stands in its way
Social Security will face a funding shortfall if nothing is done to change the system by 2035. At that point, the system will only be able to pay 80% of benefits. New legislation is aimed at changing that.
It also calls for increased payroll contributions from workers and employers. That rate would increase to 7.4% from 6.2% and would be gradually phased in from 2020 to 2043. For the average worker, this would cost an estimated 50 cents more per week every year."
3. Raising the cap is a fix, dumbass. Their benefits are the same, they just pay a little more tax.
4. agreed.
80% is guaranteed.
None of it is guaranteed.
A small fix is all that is needed.
Trillions in shortfalls isn't small.
WHAT TRILLIONS???
Currently paying out over $111 billion a month.
Over $1.3 trillion a year. You say the shortfall will be 20%.
$260 billion a year for 4 years, that's a trillion. They do 75 year projections.
That rate would increase to 7.4% from 6.2% and would be gradually phased in from 2020 to 2043. For the average worker, this would cost an estimated 50 cents more per week every year."
Love the bad math. If the first phase in is 0.1%, that means 50 cents on $500 a week.
You think the average worker makes $26,000? What's the average worker going to pay
when the full 1.2% increase is in place? LOL!
Raising the cap is a fix, dumbass.
No it isn't, moron.
Their benefits are the same,
If their benefits are the same, with a doubling or more of taxes, you've turned it into a welfare program.
they just pay a little more tax.
If you double the cap, some will pay double the tax. That's not "a little more".
And no one is talking about raising taxes on regular people,
The Dems are going to let taxes increase on regular people.
cutting them if anything....
Hilarious! When is the last time the Dems cut taxes on regular people?
Smokin' OP
Is the answer never?
None of it is guaranteed.
Trillions in shortfalls isn't small.
Love the bad math. If the first phase in is 0.1%, that means 50 cents on $500 a week.
You think the average worker makes $26,000? What's the average worker going to pay
when the full 1.2% increase is in place? LOL!
No raising the cap isn't, moron.
If their benefits are the same, with a doubling or more of taxes, you've turned it into a welfare program.
If you double the cap, some will pay double the tax. That's not "a little more".
1. Not guaranteed, but about 80% of promised benefits
How Much Longer Will Social Security Last?
Social Security's trust fund is fully solvent until 2033 and is sourced from FICA, SECA, Income Tax and interest. Read to learn more.
www.aarp.org
2. Your math is fucked up. They only pay out what they collect, duh. About 80% of what was promised. Unless they pass a fix to make us whole.
This bill could extend Social Security's solvency for the rest of this century. Here's what stands in its way
Social Security will face a funding shortfall if nothing is done to change the system by 2035. At that point, the system will only be able to pay 80% of benefits. New legislation is aimed at changing that.
www.cnbc.com
3. Raising the cap is a fix, if benefits stay the same. Don't shed any tears for the wealthy, they are NOT suffering financially.
Clipper
Platinum Member
- Dec 22, 2018
- 15,114
- 9,899
- 1,140
The next time those sons of bitches pass another tax cut fpr their wealthy cronies a rider should be included into the law that says lawmakers can't benefit from the new tax cuts until AFTER they leave office & watch as those bastards soil themselves like an infant fouling a diaper.A group of more than 70 House Republicans introduced legislation this week that would make elements of the 2017 Trump tax cuts permanent, delivering a huge windfall to the rich and choking off more federal revenue at a time when Republican fearmongering over the national debt is at a fever pitch.
Led by Reps. Vern Buchanan (R-Fla.) and Michael McCaul (R-Texas), the TCJA Permanency Act, would cement into federal law tax cuts for individuals that are set to expire at the end of 2025.
The original 2017 tax law, the Tax Cuts and Jobs Act, made most of its corporate tax provisions permanent. In a statement Wednesday, the Biden White House said Trump and congressional Republicans "deliberately sunset portions of their tax giveaway" in order to "conceal how much their plan added to the debt."
According to a Congressional Budget Office (CBO) analysis released last year, extending the individual provisions of the Trump-GOP tax law would cost around $2.2 trillion through 2032. A separate Tax Policy Center analysis estimated that the extension would deliver an average tax cut of $175,710 to the richest 0.1%.
'Absolute hypocrisy': GOP unveils bill to make Trump tax cuts permanent while howling about debt
A group of more than 70 House Republicans introduced legislation this week that would make elements of the 2017 Trump tax cuts permanent, delivering a huge windfall to the rich and choking off more federal revenue at a time when Republican fearmongering over the national debt is at a fever...
Ain't happening. Not only does the complete package need to go away, and all of the tax cuts repealed, but after these criminals are removed from congress, the tax cuts for the corporate welfare trash needs to be repealed all the way back to 1980, and the tax rates, and regulations of the 1970's restored.
1. Not guaranteed, but about 80% of promised benefits
That does not mean Social Security will no longer be around; it means the system will exhaust its cash reserves and will be able to pay out only what it takes in year-to-year in Social Security taxes. If this comes to pass, Social Security would be able to pay about 80 percent of the benefits to which retired and disabled workers are entitled.How Much Longer Will Social Security Last?
Social Security's trust fund is fully solvent until 2033 and is sourced from FICA, SECA, Income Tax and interest. Read to learn more.
2. Your math is fucked up. They only pay out what they collect, duh. About 80% of what was promised. Unless they pass a fix to make us whole.
“The Trustees recommend that lawmakers address the projected trust fund shortfalls in a timely way in order to phase in necessary changes gradually and give workers and beneficiaries time to adjust to them,” Nancy A. Berryhill, acting commissioner of Social Security, said in a statement.This bill could extend Social Security's solvency for the rest of this century. Here's what stands in its way
Social Security will face a funding shortfall if nothing is done to change the system by 2035. At that point, the system will only be able to pay 80% of benefits. New legislation is aimed at changing that.
3. Raising the cap is a fix, if benefits stay the same. Don't shed any tears for the wealthy, they are NOT suffering financially.
View attachment 758494
1. Not guaranteed, but about 80% of promised benefits
And if more workers retire, less paid in, more paid out.
The percentage, over time, will drop further.
Your math is fucked up. They only pay out what they collect, duh.
Currently they are paying out more than they collect.
And the trillions in shortfalls means, at some point, less than 100% payouts. DURR
Raising the cap is a fix, if benefits stay the same. Don't shed any tears for the wealthy,
I'm not. But if you want to turn it into just another welfare program, you need to worry
about eroding support.
If Republicans don't push to make SS & Medicare whole then they will force me to vote democrat.1. Not guaranteed, but about 80% of promised benefits
And if more workers retire, less paid in, more paid out.
The percentage, over time, will drop further.
Your math is fucked up. They only pay out what they collect, duh.
Currently they are paying out more than they collect.
And the trillions in shortfalls means, at some point, less than 100% payouts. DURR
Raising the cap is a fix, if benefits stay the same. Don't shed any tears for the wealthy,
I'm not. But if you want to turn it into just another welfare program, you need to worry
about eroding support.
Republicans should negotiate the best fix they can, and then put it behind them, otherwise their "senior" support base is gone.
- Moderator
- #157
So you want to raise taxes on the lowest income earners. Got it.Ain't happening. Not only does the complete package need to go away, and all of the tax cuts repealed, but after these criminals are removed from congress, the tax cuts for the corporate welfare trash needs to be repealed all the way back to 1980, and the tax rates, and regulations of the 1970's restored.
Democrats realize taxes are necessary for a community, county, state and country to operate.
- Apr 12, 2011
- 3,821
- 761
- 130
We might want to be a little more precise in what we say here. It is true that taxes are necessary in the cases you shared, but what we're talking about is not tax rates but tax revenue. If we had a 150% tax rate then all revenue would stop, the government would fail, and anarchy would follow. That would be bad for all.Democrats realize taxes are necessary for a community, county, state and country to operate.
We're in a situation where the current rates are so excessive that increasing them would only make revenue fall and that is not what we want.
A LOT of other countries pay higher rates and get way better outcomes with taxes, than the US.We might want to be a little more precise in what we say here. It is true that taxes are necessary in the cases you shared, but what we're talking about is not tax rates but tax revenue. If we had a 150% tax rate then all revenue would stop, the government would fail, and anarchy would follow. That would be bad for all.
We're in a situation where the current rates are so excessive that increasing them would only make revenue fall and that is not what we want.
July 30 2018
Some of the biggest winners from President Donald Trump’s new tax law are corporate executives who have reaped gains as their companies buy back a record amount of stock, a practice that rewards shareholders by boosting the value of existing shares.
"The tax law didn’t do anything to provide an incentive to employers to create jobs. There’s nothing in there that would suggest that employers have a particular incentive to hire more people or pay the ones that they have more money.”
Apple, as usual, is leading the pack with a record-breaking $100 billion stock buyback. That's a huge chunk of the $252 billion in foreign profits that it brought back to the U.S. because of Trump's tax bill.
November 30 2022
Corporate profits in the nonfinancial sector hit a record high of $2.08 trillion in the third quarter even as 40-year-high inflation continues to squeeze American consumers.
Following a two-quarter dip in 2020, quarterly profits have surged by more than 80 percent over the last two years, from around $1.2 trillion to more than $2 trillion, adding weight to arguments that the private sector is driving inflation by exploiting consumer expectations to keep prices elevated.
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