If you are one of the 164,997,000 that paid Federal taxes are you aware that $3,987.95 per person was used to

[BluesLegend]

"pay for the tax cuts"? Explain that without admitting you think all money belongs to the government, Simp.

GO!

Democrats stubbornly refuse to cut spending, fact. They own the deficit.

 

[Lesh]

"pay for the tax cuts"? Explain that without admitting you think all money belongs to the government, Simp.

GO!

A tax cut by definition means that less money goes into the general fund.

The claim is that they generate more revenue than would have been collected without them by boosting GDP.

If the tax cut “costs” X, in order to pay for themselves they need to generate what would have been generated without them in order “pay for themselves” or the debt increases by the difference.

They never do.

 

[Nostra]

A tax cut by definition means that less money goes into the general fund.

The claim is that they generate more revenue than would have been collected without them by boosting GDP.

If the tax cut “costs” X, in order to pay for themselves they need to generate what would have been generated without them in order “pay for themselves” or the debt increases by the difference.

They never do.

If revenue goes up after a tax cut, and deficits continue to rise, what do you think the problem is, moron?

Let's see if you can figure this simple math problem out...........

 

[LAUGHatLEFTISTS]

It's not the Democrats who keep cutting government revenues (taxes), while increasing spending.

Republicans cannot continue to cut taxes, while running deficits. All that's lead to is a declining, debt ridden country, with crumbling infrastructure.

Shut it Canaduh Commie. Tax revenues increased when JFK Reagan Bush and Trump cut taxes for all Americans. Go back to destroying your own country you socialist filth.

 

[Dragonlady]

Well, to vote gop today one has to close their eyes to deficits, and the same's true of the dems.

Neither of these two old farts care.

That’s not true at all. Biden has cut the deficit by more than $2 trillion dollars just by ENDING the worst of the pandemic and the endless costs of treating 10 million Americans for Covid.

It was the financial burden of testing and treating 100 million Americans - 1/3 of your population which collapsed your economy.

If you idiots stopped comparing red states and blue states and focussing on how low the death rate was, and instead focussed on how much it cost you to test and treat 1/3 of your population - all on the government dime, and the nation’s credit card, you’d realize what all your bullshit fighting about masks and vaccines really cost you.

1.2 million dead, 70,000 more died last year and 1000 people a week are still dying. No other nation on earth suffered this level of death or disease.

And nobody else crashed their economy like you did.

 

[HikerGuy83]

It's a bipartisan problem and neither presidential candidate cares about it.

Absolutely true.

I challenged the hardcore MAGA and all I heard was "America the way it used to be". I don't hear Donald Trump saying one effing word about lowering the debt.

 

[LAUGHatLEFTISTS]

Horseshit. Total horseshit. You were fed that bullshit by a gaslighting propagandists.

As I said before, Trump DOUBLED the deficit. BEFORE Covid.


Before Covid:
Trump Proposes a Record $4.75 Trillion Budget



During Covid:

Trump says he wants a bigger stimulus package than the $2.2 trillion amount that Democrats are seeking​

BWA-HA-HA-HA-HA!

YOU should look at the yearly deficits. Trump DOUBLED the deficit he inherited.



Nope. That's a lie. A flat out lie

Deficit Tracker | Bipartisan Policy Center

Even as the U.S. economy expands, the federal government continues to run large and growing budget deficits that will soon exceed $1 trillion per…

bipartisanpolicy.org

In February, the Congressional Budget Office released its annual Budget and Economic Outlook and projected that the nation will run a $1.6 trillion deficit in FY2024.

Biden inherited a $2.7 trillion deficit.

Obama steadily lowered the deficit. Biden has been doing the same.

But Trump increased the deficit every year.

So, yeah. YOU should look at the yearly deficits.

Here you go: U.S. Budget Deficit by Year Compared to GDP and Debt

Stay off the leftist kook sites commie.

 

[HikerGuy83]

The tax cuts brought in more revenue, Simp.

But not enough.

And here is what seems to be a proven fact....

For every buck you give congress....they spend 1.5.

So increasing revenue isn't going to help.

They look at that and say....well hell, look at all the money we've gotta spend.

 

[HikerGuy83]

what you are looking at below is the affect of Trump's Repatriation of offshore money
U.S. companies have repatriated $1 trillion since tax overhaul
The affect on tax revenue that would have never been paid on the nearly $1 trillion that came back
due to the tax cut...
Investment banks and think tanks have estimated that U.S. corporations held $1.5 trillion to $2.5 trillion in offshore cash at the time the law was enacted. Before the overhaul, companies had an incentive to keep profits overseas because they owed a 35% tax when bringing it back and could defer payment by keeping funds offshore.
The law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets.

U.S. companies have repatriated $1 trillion since tax overhaul

That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.

www.latimes.com

View attachment 950094

That's great....but you still need some mechanism to ensure that extra cash does not get spent. It needs to pay off our debt.

The end.

 

[Dragonlady]

If revenue goes up after a tax cut, and deficits continue to rise, what do you think the problem is, moron?

Let's see if you can figure this simple math problem out...........

Revenues went up because of the one-time 10% repatriation tax on foreign profits.

Relublicans goose government spending at the same time they cut taxes to give the illusion that the tax cuts increase revenues. Government spending in defence and infrastructure boosts revenues since all of that work is contracted out.

You can Google it. This is economicc101 stuff Dumbass.

 

[boedicca]

pay In 2023, the federal government's spending of $658 billion for interest costs on the national debt.

What Are Interest Costs on the National Debt?

Interest costs are on track to become the largest category of spending in the federal budget.

www.pgpf.org

...from 164,997,000 individual tax returns.
In total, net interest payments will total $12.4 trillion over the next decade.

How much money does the government collect per person?

The federal government collected $5.03 trillion in federal revenues in 2022, averaging out at $15,098 per person.

usafacts.org

So... if the national debt today is: $34,558,157,524,900 as of 4/27/24 at 9:40 AM CDT...

What Is the U.S. National Debt Right Now — and Why Is It So High?

See the latest numbers and learn more about the causes of our high and rising national debt.

www.pgpf.org

AND the net worth after expenses, of all the assets in the USA is ....
The financial position of the United States includes assets of at least $269 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP).

Financial position of the United States - Wikipedia

en.wikipedia.org

What's the problem? The USA has 258% more assets AFTER paying off entirely the national debt of $34.5 Trillion.

What's the problem? The devil is in the details. The federal government is $11T in the hole. So to settle that debt, it has to take money from households and small businesses. (Big Corporate Cronies will be exempt). The real answer is to cut the size of government, but the corruptocrats will never do that.

 

[LAUGHatLEFTISTS]

The deficit does not have to be. We have created our own problem and we'd have more than enough money if changed the way we think.

First off, if you equalize income, you have fewer tax drawing citizens via public assistance and more tax revenue. Secondly if people were paid iving wages accross the country, we would gain increased tax revenue.. We keep falling for the okie doke that tells us owners will have to jack up prices on their products to do this, when in reality, owners and CEOS can take a pay cut instead of making 2-300 times line workers make.

Shut that mouth commie. Capitalism has created the greatest country the world has ever known. The beliefs of the leftist are the exact opposite. They have caused the greatest death and destruction the world has ever known

 

[Oddball]

Why are you even participating in a thread about the economy and the national debt if you don't know the answer to this question.

No wonder Republicans are so successful at convincing you fools that cutting taxes and crashing the economy every few years to enrich the super wealthy, further impoverishing working and middle class Americans, is the way to go.

So enlighten the class, li'l miss genius...To whom is the debt owed?

 

[LAUGHatLEFTISTS]

Revenues went up because of the one-time 10% repatriation tax on foreign profits.

Relublicans goose government spending at the same time they cut taxes to give the illusion that the tax cuts increase revenues. Government spending in defence and infrastructure boosts revenues since all of that work is contracted out.

You can Google it. This is economicc101 stuff Dumbass.

Shut it commie scum. You have no idea what you’re talking about and everyone knows it. Even the leftards on this forum stay away from your brainwashed nonsense.

 

[LAUGHatLEFTISTS]

That’s not true at all. Biden has cut the deficit by more than $2 trillion dollars just by ENDING the worst of the pandemic and the endless costs of treating 10 million Americans for Covid.

It was the financial burden of testing and treating 100 million Americans - 1/3 of your population which collapsed your economy.

If you idiots stopped comparing red states and blue states and focussing on how low the death rate was, and instead focussed on how much it cost you to test and treat 1/3 of your population - all on the government dime, and the nation’s credit card, you’d realize what all your bullshit fighting about masks and vaccines really cost you.

1.2 million dead, 70,000 more died last year and 1000 people a week are still dying. No other nation on earth suffered this level of death or disease.

And nobody else crashed their economy like you did.

Explain how Dementia riddled *Joe cut the deficit. You can’t so you won’t.

 

[Lesh]

If revenue goes up after a tax cut, and deficits continue to rise, what do you think the problem is, moron?

Let's see if you can figure this simple math problem out...........

After every tax cut deficits go up a LOT

 

[Lesh]

Explain how Dementia riddled *Joe cut the deficit. You can’t so you won’t.

He certainly did

U.S. government - Budget surplus or deficit 2029 | Statista

In 2023, the U.S.

www.statista.com

 

[Nostra]

Revenues went up because of the one-time 10% repatriation tax on foreign profits.

Relublicans goose government spending at the same time they cut taxes to give the illusion that the tax cuts increase revenues. Government spending in defence and infrastructure boosts revenues since all of that work is contracted out.

You can Google it. This is economicc101 stuff Dumbass.

Why don't you google it and back up your lies for once, dumbass.

I say you are a liar. Prove me wrong.

 

[Nostra]

After every tax cut deficits go up a LOT

So you can't figure out that simple math problem.

I'm shocked..............SHOCKED I TELLS YA!

More revenue................bigger deficits...................what could be the problem?

HINT: Look at the spending side, moron.

 

[Lesh]

So you can't figure out that simple math problem.

I'm shocked..............SHOCKED I TELLS YA!

More revenue................bigger deficits...................what could be the problem?

HINT: Look at the spending side, moron.

So in order to have a balance after a tax cut spending has to be cut to make up for the tax cut?

Ohhh.

Trump’s tax cut cost 2 trillion. Where you gonna cut two trillion?