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

[skews13]

And how did they put themselves in a position to default on our debt? By running up too much debt, that's how. You need to start thinking in terms of root causes, like your hero and genius VP, Kamala, does.

When you cut taxes on the wealthiest, and corporations

You cut revenue

When you cut revenue and increase military spending, you drive up the debt

When you borrow money to make up for the lost revenue

You have to pay back the money plus interest

This drives up the deficit

These are simple economic facts right in front of your face

You are either a liar, or one stupid mother fucker if you don't believe them

Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio

Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.

www.americanprogress.org

 

[22lcidw]

There are no countries who do not borrow money from other countries.

The difference between a country like the USA and others like Italy and Greece which have gone bankrupt, is that the USA has money coming in in order to pay the deficit, which is the same as paying a mortgage.

You have no business, finance or economy background in order to understand how countries function. It is not the same as a personal or business loan.

When you study and learn about it, get back to me.

We are the worlds reserve currency that is down to about 55% from over 95% after WW 2. Europe is about 25% or so and China is a lot less near 3%. China is working on that. And they will increase it in huge ways. Put it this way. We have slave labor women more educated in China as producers than Chelsea Clinton will ever e who is living a life the million times better.

 

[Sixties Fan]

We are the worlds reserve currency that is down to about 55% from over 95% after WW 2. Europe is about 25% or so and China is a lot less near 3%. China is working on that. And they will increase it in huge ways. Put it this way. We have slave labor women more educated in China as producers than Chelsea Clinton will ever e who is living a life the million times better.

Explain what all of that means with sources, and keep the garbage attacks on people you do not like out of it. I am not going to bring Melania, Tiffany, or Ivanka Trump into this conversation as you just did with Chelsea Clinton, because they do NOT belong in this discussion.

Go ahead, show the receipts. Show the facts of what you just posted.

The US is the wealthiest country in the world, STILL. And Republicans like yourself, ignorant about the issues to a fault, can do nothing but post garbage.

 

[leftwinger]

I'm talking about 2018 and 2019, which is before the virus. The debt-GDP ratio went up then, too. Not nearly as much, obviously, but they still increased.

But pandemics happen and MAGAs need to get over it already.

Congress sets the spending. Presidents sign it ir shut down the country according to CNN. Congress bakes in 10% increase then bargains. “We’ll add in your required Military increases only if you double spending on LW pet projects”.

it cost a lot of spending to repair the damage done 2013-2016. Then forced to double it to make Schumer happy?

 

[Billiejeens]

In this country NOT paying the deficit on time, is what makes one a nincompoop. So much that one's rating goes down, and the interest goes up.

Just check what happened in 2011 when the Republicans would not raise the Debt, and the deficit was not paid in time.

Repeating what one hears is not the same as finding out what the facts are.

Never happened.

 

[tahuyaman]

When you cut taxes on the wealthiest, and corporations

You cut revenue

When you cut revenue and increase military spending, you drive up the debt

When you borrow money to make up for the lost revenue

You have to pay back the money plus interest

This drives up the deficit

These are simple economic facts right in front of your face

You are either a liar, or one stupid mother fucker if you don't believe them

Tax Cuts Are Primarily Responsible for the Increasing Debt Ratio

Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.

www.americanprogress.org

No. When you reduce tax rates you generate more economic activity which results in more revenues through growth. Increasing tax rates does the exact opposite.

 

[Kilroy2]

No...tax cuts increase what the government gets because they stimulate economic growth......

Well unfortunately you forget about the pandemic and how much was spent by; the government.. Stimulus packages that benefit everyone. Also the effect of the pandemic on the economy. The highest unemployment rate was during the pandemic.

The statement is true because of the money the government spent on COVID 19, especially when you look at the stimulus money that was used, The fact remains and is a true statement. Spending did increase.

It was a difficult situation and that is the way it is. Things are going great and the president takes credit. Things going bad and then silence is golden. It is the blame game. Trump blames Biden and Biden will blame Trump.

You have tax cuts which reduce the amount of money coming in prior to the pandemic hitting the US. and thus spending increase. Tax incentives that the government was giving out reduced income coming in. It is a true statement Some say 39% and others say 40% increase in debt. It happen and its true.

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

yet in 2023 Trumps says the government should default on its debt.

Yeah as long as he is not president at the time he will say anything to make Biden look bad and ignore the bigger picture.

Bottom line there is a good reason why the statement is true unfortunately in politics the president gets the blame

If Clinton had won and she did the exact same thing, Republicans would be saying the same thing that it was her fault and using statistics to back up their statements.

 

[tahuyaman]

Well unfortunately you forget about the pandemic and how much was spent by; the government.. Stimulus packages that benefit everyone. Also the effect of the pandemic on the economy. The highest unemployment rate was during the pandemic.

The statement is true because of the money the government spent on COVID 19, especially when you look at the stimulus money that was used, The fact remains and is a true statement. Spending did increase.

It was a difficult situation and that is the way it is. Things are going great and the president takes credit. Things going bad and then silence is golden. It is the blame game. Trump blames Biden and Biden will blame Trump.

You have tax cuts which reduce the amount of money coming in prior to the pandemic hitting the US. and thus spending increase. Tax incentives that the government was giving out reduced income coming in. It is a true statement Some say 39% and others say 40% increase in debt. It happen and its true.

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

yet in 2023 Trumps says the government should default on its debt.

Yeah as long as he is not president at the time he will say anything to make Biden look bad and ignore the bigger picture.

Bottom line there is a good reason why the statement is true unfortunately in politics the president gets the blame

If Clinton had won and she did the exact same thing, Republicans would be saying the same thing that it was her fault and using statistics to back up their statements.

Prior to the pandemic revenues into government were the highest they had ever been. We are living under the same tax rates and they have rebounded now that the pandemic is over.

Why didn’t the Democrats repeal the tax cuts when they had control of the congress?

 

[Kilroy2]

Prior to the pandemic revenues into government were the highest they had ever been. We are living under the same tax rates and they have rebounded now that the pandemic is over.

Why didn’t the Democrats repeal the tax cuts when they had control of the congress?

Republicans pass historic tax cuts without a single Democratic vote

Protesters interrupted with chants of 'kill the bill, don't kill us' and Vice President Mike Pence repeatedly called for order.

www.axios.com

• Senate: "Voting yes were 0 Democrats and 51 Republicans. Voting no were 46 Democrats, 0 Republicans and 2 independents."
• House: "Voting no were 191 Democrats with 2 not voting and 227 republicans voted yes with only 12 voting no

Democrats overwhelmingly voted no back in 2017. Yet As long as Trump was the president he could veto it. IT would then require a 2/3 vote by congress to defeat the veto. Which means a significant number of republican defections.

"80 percent of the country will pay lower taxes next year. But the short-term gains come with a cost: The legislation also makes the country's debt problem even worse," the WashPost's Heather Long writes:

• Why it happened: "The GOP decided to cut taxes without offsetting spending cuts, driving up the deficit."

Your just trying to defect blame on something the republicans did. Democrats have passed a bill in the Senate to raise taxes on the wealthiest Americans. Republicans fought like hell to derail it and oppose it .

They tried to make major change the tax law in 2022 which failed in the congress.

They tried again with modest tax law changes which were included in the inflation Reduction Act which became law in Aug 2022. Also the Secure 2.0 Act was approved in December 2022.

 

[tahuyaman]

Republicans pass historic tax cuts without a single Democratic vote

Protesters interrupted with chants of 'kill the bill, don't kill us' and Vice President Mike Pence repeatedly called for order.

www.axios.com

• Senate: "Voting yes were 0 Democrats and 51 Republicans. Voting no were 46 Democrats, 0 Republicans and 2 independents."
• House: "Voting no were 191 Democrats with 2 not voting and 227 republicans voted yes with only 12 voting no

Democrats overwhelmingly voted no back in 2017. Yet As long as Trump was the president he could veto it. IT would then require a 2/3 vote by congress to defeat the veto. Which means a significant number of republican defections.

"80 percent of the country will pay lower taxes next year. But the short-term gains come with a cost: The legislation also makes the country's debt problem even worse," the WashPost's Heather Long writes:

• Why it happened: "The GOP decided to cut taxes without offsetting spending cuts, driving up the deficit."

Your just trying to defect blame on something the republicans did. Democrats have passed a bill in the Senate to raise taxes on the wealthiest Americans. Republicans fought like hell to derail it and oppose it .

They tried to make major change the tax law in 2022 which failed in the congress.

They tried again with modest tax law changes which were included in the inflation Reduction Act which became law in Aug 2022. Also the Secure 2.0 Act was approved in December 2022.

Why didn't the Democrats repeal the 2017 tax rate cuts when they has the majority after the 2020 election? You won’t address that. Why? Because you’re both a hack and a dumb-ass

 

[Kilroy2]

Why didn't the Democrats repeal the 2017 tax rate cuts when they has the majority after the 2020 election? You won’t address that. Why? Because you’re both a hack and a dumb-ass

Blaming others for you lack of knowing anything except smelling your fingers.

Why have the republican gave up on repealing Obama Care? It is an easy question for some.

They have made changes to the tax laws. Your just not aware of them and you probably did not read my post because it is beyond your capability of understanding anything complex.

Filibusters and you need 60 votes in the Senate.

Make changes to laws in effect is the easiest. They have done that. They made changes. IF you want to know those changes look it up.

If you having problems using google then just type in Biden new tax law changes and feel that "Duh" moment. Can't be more simpler Homer.