It’s Not A Spending Problem. It’s A Revenue Problem

[skews13]

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes.
The GOP is gaslighting us on spending when they claim that spending is allegedly out of control. Let’s look at the facts. Federal spending was 31.2 percent of GDP in 2020. Federal spending was 25.6 percent of GDP in 2022. Federal spending will be 24 percent of GDP under Biden’s budget. Spending is down significantly since Biden took office.

Bush was the only two term president in American history to preside over a decline in middle class incomes during his two terms as president. Moreover, at the time, Bush had the worst job creation record since Herbert Hoover.

The Trump jobs record was worse. In 2020, the U.S. economy lost a net 10 million jobs. Weekly unemployment claims between March and December 2020 exceeded the worst week of the 2008–09 recession. Trump left office after nearly 50 straight weeks of the worst job losses in American history. Trump was the first president since the Great Depression to leave office with fewer jobs in the country than when he was inaugurated.

Trump promised that the 2017 tax cuts would: 1. Deliver a $4,000 pay raise to the middle class; 2. Pay for themselves; 3. Kick off an investment boom; 4. Generate 6% GDP growth. 5. Generate more job growth.

None of this happened. Even before the pandemic, middle class incomes rose a paltry 1% adjusted for inflation; the deficit increased from $585 billion to $1 trillion; 85% of the tax cuts were spent on dividends and stock buybacks; there was no investment boom; GDP growth was no different than it was under Obama; and job growth declined by 20%. By Trump’s own criteria, the 2017 tax cuts were a failure.

It's Not A Spending Problem. It's A Revenue Problem.

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes. The GOP is...

m.dailykos.com

Mod Edit - Deleted. Clean start

 

[jbrownson0831]

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes.
The GOP is gaslighting us on spending when they claim that spending is allegedly out of control. Let’s look at the facts. Federal spending was 31.2 percent of GDP in 2020. Federal spending was 25.6 percent of GDP in 2022. Federal spending will be 24 percent of GDP under Biden’s budget. Spending is down significantly since Biden took office.

Bush was the only two term president in American history to preside over a decline in middle class incomes during his two terms as president. Moreover, at the time, Bush had the worst job creation record since Herbert Hoover.

The Trump jobs record was worse. In 2020, the U.S. economy lost a net 10 million jobs. Weekly unemployment claims between March and December 2020 exceeded the worst week of the 2008–09 recession. Trump left office after nearly 50 straight weeks of the worst job losses in American history. Trump was the first president since the Great Depression to leave office with fewer jobs in the country than when he was inaugurated.

Trump promised that the 2017 tax cuts would: 1. Deliver a $4,000 pay raise to the middle class; 2. Pay for themselves; 3. Kick off an investment boom; 4. Generate 6% GDP growth. 5. Generate more job growth.

None of this happened. Even before the pandemic, middle class incomes rose a paltry 1% adjusted for inflation; the deficit increased from $585 billion to $1 trillion; 85% of the tax cuts were spent on dividends and stock buybacks; there was no investment boom; GDP growth was no different than it was under Obama; and job growth declined by 20%. By Trump’s own criteria, the 2017 tax cuts were a failure.

It's Not A Spending Problem. It's A Revenue Problem.

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes. The GOP is...

m.dailykos.com

You Magats do know we keep records of these things right?

Not a spending problem?
Wow, the TDS has spread all the way to your kidneys where most all your thoughts originate.
What a moron.

 

[jbrownson0831]

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes.
The GOP is gaslighting us on spending when they claim that spending is allegedly out of control. Let’s look at the facts. Federal spending was 31.2 percent of GDP in 2020. Federal spending was 25.6 percent of GDP in 2022. Federal spending will be 24 percent of GDP under Biden’s budget. Spending is down significantly since Biden took office.

Bush was the only two term president in American history to preside over a decline in middle class incomes during his two terms as president. Moreover, at the time, Bush had the worst job creation record since Herbert Hoover.

The Trump jobs record was worse. In 2020, the U.S. economy lost a net 10 million jobs. Weekly unemployment claims between March and December 2020 exceeded the worst week of the 2008–09 recession. Trump left office after nearly 50 straight weeks of the worst job losses in American history. Trump was the first president since the Great Depression to leave office with fewer jobs in the country than when he was inaugurated.

Trump promised that the 2017 tax cuts would: 1. Deliver a $4,000 pay raise to the middle class; 2. Pay for themselves; 3. Kick off an investment boom; 4. Generate 6% GDP growth. 5. Generate more job growth.

None of this happened. Even before the pandemic, middle class incomes rose a paltry 1% adjusted for inflation; the deficit increased from $585 billion to $1 trillion; 85% of the tax cuts were spent on dividends and stock buybacks; there was no investment boom; GDP growth was no different than it was under Obama; and job growth declined by 20%. By Trump’s own criteria, the 2017 tax cuts were a failure.

It's Not A Spending Problem. It's A Revenue Problem.

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes. The GOP is...

m.dailykos.com

You Magats do know we keep records of these things right?

Its TDS o'clock....cuckoo, cuckoo, cuckoo!

 

[Sixties Fan]

Not a spending problem?
Wow, the TDS has spread all the way to your kidneys where most all your thoughts originate.
What a moron.

Show evidence. What, no evidence, only empty attacks?

Right !!!!

 

[theHawk]

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes.
The GOP is gaslighting us on spending when they claim that spending is allegedly out of control. Let’s look at the facts. Federal spending was 31.2 percent of GDP in 2020. Federal spending was 25.6 percent of GDP in 2022. Federal spending will be 24 percent of GDP under Biden’s budget. Spending is down significantly since Biden took office.

Bush was the only two term president in American history to preside over a decline in middle class incomes during his two terms as president. Moreover, at the time, Bush had the worst job creation record since Herbert Hoover.

The Trump jobs record was worse. In 2020, the U.S. economy lost a net 10 million jobs. Weekly unemployment claims between March and December 2020 exceeded the worst week of the 2008–09 recession. Trump left office after nearly 50 straight weeks of the worst job losses in American history. Trump was the first president since the Great Depression to leave office with fewer jobs in the country than when he was inaugurated.

Trump promised that the 2017 tax cuts would: 1. Deliver a $4,000 pay raise to the middle class; 2. Pay for themselves; 3. Kick off an investment boom; 4. Generate 6% GDP growth. 5. Generate more job growth.

None of this happened. Even before the pandemic, middle class incomes rose a paltry 1% adjusted for inflation; the deficit increased from $585 billion to $1 trillion; 85% of the tax cuts were spent on dividends and stock buybacks; there was no investment boom; GDP growth was no different than it was under Obama; and job growth declined by 20%. By Trump’s own criteria, the 2017 tax cuts were a failure.

It's Not A Spending Problem. It's A Revenue Problem.

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes. The GOP is...

m.dailykos.com

You Magats do know we keep records of these things right?

What a joke. President Trump’s economy was the best we ever had.

Then Fauci and his CCP pals unleashed WuFlu. All of your “job losses” are attributed solely to that.

 

[Ralph Norton]

The Trump jobs record was worse. In 2020, the U.S. economy lost a net 10 million jobs. Weekly unemployment claims between March and December 2020 exceeded the worst week of the 2008–09 recession. Trump left office after nearly 50 straight weeks of the worst job losses in American history. Trump was the first president since the Great Depression to leave office with fewer jobs in the country than when he was inaugurated.

Hmm.... do you think that maybe Covid might have had something to do with that?
Dumb ass.

 

[elektra]

Yes, let us look at the facts. Democrats overspend year after year, increasing the budget beyond our means. They then blame Republicans, who have to include Democrat overspending debt in the new budgets.

Now we have Democrats overspending at level never seen in history, spending a trillion dollars subsidizing private companies. Instead of just admitting the facts that they are wasting money choosing and spending money on businesses they like as if we live in a communist marxist economy, the democrats lie and try to blame anyone else, but themselves.

 

[Silent Warrior]

Its TDS o'clock....cuckoo, cuckoo, cuckoo!

The OP has used statistics that he obviously doesn't understand, but don't expect him to admit it. He neglected to mention the tax rate in the new country after the revolution compared to the current rate. Like his fallacious argument there are many reasons for the drastic increase, but he ignores the increase in income because it doesn't fit his propaganda filled narrative.

 

[Lord Long Rod]

It's a spending problem. The U.S. government gets way too much revenue as it is.

 

[Lord Long Rod]

Show evidence. What, no evidence, only empty attacks?

Right !!!!

Evidence of what, exactly?

 

[Lord Long Rod]

Goddamn, there are some leftist loons on this board who are mind-numbingly stupid.

 

[Woodznutz]

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes.
The GOP is gaslighting us on spending when they claim that spending is allegedly out of control. Let’s look at the facts. Federal spending was 31.2 percent of GDP in 2020. Federal spending was 25.6 percent of GDP in 2022. Federal spending will be 24 percent of GDP under Biden’s budget. Spending is down significantly since Biden took office.

Bush was the only two term president in American history to preside over a decline in middle class incomes during his two terms as president. Moreover, at the time, Bush had the worst job creation record since Herbert Hoover.

The Trump jobs record was worse. In 2020, the U.S. economy lost a net 10 million jobs. Weekly unemployment claims between March and December 2020 exceeded the worst week of the 2008–09 recession. Trump left office after nearly 50 straight weeks of the worst job losses in American history. Trump was the first president since the Great Depression to leave office with fewer jobs in the country than when he was inaugurated.

Trump promised that the 2017 tax cuts would: 1. Deliver a $4,000 pay raise to the middle class; 2. Pay for themselves; 3. Kick off an investment boom; 4. Generate 6% GDP growth. 5. Generate more job growth.

None of this happened. Even before the pandemic, middle class incomes rose a paltry 1% adjusted for inflation; the deficit increased from $585 billion to $1 trillion; 85% of the tax cuts were spent on dividends and stock buybacks; there was no investment boom; GDP growth was no different than it was under Obama; and job growth declined by 20%. By Trump’s own criteria, the 2017 tax cuts were a failure.

It's Not A Spending Problem. It's A Revenue Problem.

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes. The GOP is...

m.dailykos.com

You Magats do know we keep records of these things right?

How do you explain the Federal debt? Lack of revenue or spending?

 

[Woodznutz]

It's a spending problem. The U.S. government gets way too much revenue as it is.

True. The Fed is like a person who keeps putting expensive things on their credit card because they are still able to make the minimum payment due, without regard to the ballooning principal amount.

They also believe they can grow themselves out of debt not realizing that the growth is actually inflation.

It's also a pandering problem, looking forward to buying their seat once again.

 

[Kilroy2]

Under trump the national debt rose and estimated 7.8 trillion and is rated as the third largest by any sitting president.

Tax cuts and the pandemic are a combination that does Make America Great Again. Both are on his watch.

Tax cut reduces what the government takes in. Pandemic increase government spending.;

The Donald says "We totally have it under control. Its just one person coming in from China. Its going to be fine."

Public debt U.S. 2023 | Statista

In September 2023, the national debt of the United States had risen up to 33.17 trillion U.S.

www.statista.com

 

[ReinyDays]

Much vitriol, little substance ... the truth is your plan requires a heavy heavy tax increase on the Middle Class ... as much as they can bear ... they have no other purpose ...

 

[Dont Taz Me Bro]

It’s Not A Spending Problem. It’s A Revenue Problem​

False. The federal government has taken in a record amount of revenue. You simply won't live within your means.

 

[Harpy Eagle]

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes.
The GOP is gaslighting us on spending when they claim that spending is allegedly out of control. Let’s look at the facts. Federal spending was 31.2 percent of GDP in 2020. Federal spending was 25.6 percent of GDP in 2022. Federal spending will be 24 percent of GDP under Biden’s budget. Spending is down significantly since Biden took office.

Bush was the only two term president in American history to preside over a decline in middle class incomes during his two terms as president. Moreover, at the time, Bush had the worst job creation record since Herbert Hoover.

The Trump jobs record was worse. In 2020, the U.S. economy lost a net 10 million jobs. Weekly unemployment claims between March and December 2020 exceeded the worst week of the 2008–09 recession. Trump left office after nearly 50 straight weeks of the worst job losses in American history. Trump was the first president since the Great Depression to leave office with fewer jobs in the country than when he was inaugurated.

Trump promised that the 2017 tax cuts would: 1. Deliver a $4,000 pay raise to the middle class; 2. Pay for themselves; 3. Kick off an investment boom; 4. Generate 6% GDP growth. 5. Generate more job growth.

None of this happened. Even before the pandemic, middle class incomes rose a paltry 1% adjusted for inflation; the deficit increased from $585 billion to $1 trillion; 85% of the tax cuts were spent on dividends and stock buybacks; there was no investment boom; GDP growth was no different than it was under Obama; and job growth declined by 20%. By Trump’s own criteria, the 2017 tax cuts were a failure.

It's Not A Spending Problem. It's A Revenue Problem.

A long time Republican talking point on the budget is that we allegedly have a spending problem and don’t have a revenue problem. They have it exactly backwards. It’s time to fact check Republican gaslighting on spending and taxes. The GOP is...

m.dailykos.com

You Magats do know we keep records of these things right?

Nope, it is a spending problem.

Our revenue goes up every year, and we just keep spending even more than it is going up.

We cannot tax ourselves out of this problem.

 

[1srelluc]

 

[multivita-man]

What a joke. President Trump’s economy was the best we ever had.

Not really. The tax cut in 2017 was irresponsible and was already bad for the budget, and then the pandemic happened.

 

[Dont Taz Me Bro]

Not really. The tax cut in 2017 was irresponsible and was already bad for the budget, and then the pandemic happened.

Federal revenue increased every year after the tax cuts, with the obvious exception of 2020, and even that was only a minor dip.

U.S. Federal Government Tax Revenue

The federal government generates tax revenue through a variety of sources, including income and corporate taxes. Learn how much tax revenue the U.S. generates.

www.thebalancemoney.com