Now I understand why Trump wanted it. GOP got completely outplayed again. Not increasing the debt ceiling means that Trump cannot enact his tax cuts.

[Toddsterpatriot]

Fucker Trump added 7 trillion to the national debt/my credit card. Pay for your own shit

Debt to the Penny | U.S. Treasury Fiscal Data

Debt to the Penny is the total debt of the U.S. government and is reported daily. It is made up of intragovernmental holdings and debt held by the public.

fiscaldata.treasury.gov

$36.167 - $27.751 = $8.416 trillion

 

[Arlette]

View attachment 1056445

View attachment 1056446

Debt to the Penny | U.S. Treasury Fiscal Data

Debt to the Penny is the total debt of the U.S. government and is reported daily. It is made up of intragovernmental holdings and debt held by the public.

fiscaldata.treasury.gov

$36.167 - $27.751 = $8.416 trillion

It includes debt held by the public, meaning American people.

 

[para bellum]

Fucker Trump added 7 trillion to the national debt/my credit card. Pay for your own shit

$3.7 Trillion of that was covid relief in 2020.

Be honest.

 

[boevans]

Lies.

Yes, you are lying.

 

[boevans]

Never happened

Sure did. Covid relief is Trump increases.

 

[para bellum]

It includes debt held by the public, meaning American people.

No it means all public debt, a large portion of it is held by foreign countries.

The intragovernmental debt is also real debt- it is just held by gov't departments. The Social Security Trust fund is an intragovernmental debt that still has to be paid by the taxpayers eventually.

 

[lafayette]

Tax cuts don't add to the debt.

No, but it puts the load on the middle class.

 

[Arlette]

$3.7 Trillion of that was covid relief in 2020.

Be honest.

Is that supposed to make a difference for me or future generations? You will probably be long dead before a penny of that is payed back.

 

[Billiejeens]

No, but it puts the load on the middle class.

Also no.

 

[lafayette]

Yes, it does.

 

[para bellum]

Is that supposed to make a difference for me or future generations? You will probably be long dead before a penny of that is payed back.

The deficit from covid is not structural deficit. Biden's structural deficits are higher than Trump's.

Obama is the one that institutionalized the trillion dollar deficit.

Trump's tax cuts benefited the lower and middle classes the most when it is looked as the portion of income that the gov't takes away.

The SALT cap hit the highest earners, who lost on average $11,000 of SALT deduction.

The QBI was a godsend to small business owners making under $100K- it made 20% of their business earnings tax free. They could use that money to make investments in their business, and they did.

Letting the waitress keep all of her tips tax free isn't a tax cut for the rich. Allowing the retired person, who depends on his SS and a maybe a modest IRA to have his social security non-taxable is not a tax break for the rich.

The economy will be healthier with a lower tax burden, and that translates to faster growth and ultimately more tax revenues.

 

[Toddsterpatriot]

It includes debt held by the public, meaning American people.

Debt held by the public is all debt that the federal government owes to those outside of the federal government.

And Biden added more than Trump.

 

[Toddsterpatriot]

No, but it puts the load on the middle class.

The middle class?

What's your definition of middle-class income range?

 

[Arlette]

The deficit from covid is not structural deficit. Biden's structural deficits are higher than Trump's.

Obama is the one that institutionalized the trillion dollar deficit.

Trump's tax cuts benefited the lower and middle classes the most when it is looked as the portion of income that the gov't takes away.

The SALT cap hit the highest earners, who lost on average $11,000 of SALT deduction.

The QBI was a godsend to small business owners making under $100K- it made 20% of their business earnings tax free. They could use that money to make investments in their business, and they did.

Letting the waitress keep all of her tips tax free isn't a tax cut for the rich. Allowing the retired person, who depends on his SS and a maybe a modest IRA to have his social security non-taxable is not a tax break for the rich.

The economy will be healthier with a lower tax burden, and that translates to faster growth and ultimately more tax revenues.

It's just more of the same neoliberal bullshit that has pretty much destroyed the middle class since Saint Reagan introduced it.

 

[para bellum]

It's just more of the same neoliberal bullshit that has pretty much destroyed the middle class since Saint Reagan introduced it.

No it's the real world, something you are disconnected from.

 

[Toddsterpatriot]

It's just more of the same neoliberal bullshit that has pretty much destroyed the middle class since Saint Reagan introduced it.

The middle class pays less of the income tax burden than they did before Reagan.

 

[Arlette]

The middle class pays less of the income tax burden than they did before Reagan.

Wake me up when that new Golden Age that Trump is promising is here.

 

[Toddsterpatriot]

Wake me up when that new Golden Age that Trump is promising is here.

How do you feel after you learned the truth about Biden's debt? Sleepy?

 

[Nostra]

You didn't prove shit.

Sure I did. I brought the actual numbers, Moron.

 

[Nostra]

Fucker Trump added 7 trillion to the national debt/my credit card. Pay for your own shit

Biden is about to add $8 trillion, dumbass.