Now that the table has turned, how will GOPer's react?

[HappyJoy]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Those tax cuts really kind of fucked us over now, huh?

Were 2019 tax receipts higher than 2017 (before the tax cuts) tax receipts?

I would hope they were higher in 2019. Would they be higher without the tax cuts?

I would hope they were higher in 2019.

They were higher. So how did the tax cuts fuck us over?

Would they be higher without the tax cuts?

How much higher? Show your work.

Show my work? Cute.

US lost more tax revenue than any other developed country in 2018 due to Trump tax cuts, new report says

The U.S. tax-to-GDP ratio fell the most of any OECD member country in 2018, according to a new report released Thursday.

www.cnbc.com

U.S. tax revenue as a proportion of GDP dropped the most out of any country in the Organisation for Economic Co-operation and Development in 2018, according to a report released Thursday.​

​

That’s largely due to the $1.5 trillion GOP tax cut President Donald Trump signed into law in 2017.​

​

The tax cuts dramatically altered the U.S. tax landscape for the first time in decades by permanently slashing the corporate tax rate from 35% to 21%, temporarily cutting individual tax rates and limiting state and local tax deductions, among other changes.​

​

From 2017 to 2018, the U.S. tax-to-GDP ratio fell from 26.8% to 24.3%, the OECD found, while corporate tax revenues fell by .7% and personal income tax revenues dropped by .5%.​

​

The OECD’s overall tax-to-GDP ratio, meanwhile, remained relatively unchanged between 2017 and 2018, from 34.2% to 34.3%.​

​

​

​

Thirty-six countries, including many key U.S. allies and economic partners, make up the Paris-based OECD, which serves as a forum for market-oriented democratic countries to discuss global economic issues and policies.​

​

Ireland, Chile and Mexico ranked below the U.S. for 2018, though preliminary data for Australia and Japan have yet to be released.​

​

Only Hungary and Israel came close to the U.S.′ 2.5% tax-to-GDP ratio drop, at 1.6% and 1.4%, respectively.​

​

​

 

[Sun Devil 92]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Our projections were that on the current course, we would have reduced the debt to zero in three years.

Of course, that didn't take into account the mild corrections that were already happening when Bush took over.

Three years? It took 4 years just to take off about 670 billion. Also you have to account for times when deficit spending is necessary as during recessions. Bush had one at the beginning of his term and well we know what happened in the end. In the meantime we had massive wasteful tax cuts that prevent us from reducing the deficit.

Nevertheless......don't you think we'd love to ONLY be 3 trillion in debt right now ?

And yes....those tax cuts really did do some major damage.

The Bush or Trump tax cuts?

I am not sure why you are telling me this.

My basic premise is:

1. Clinton/Congress had us going in the right direction. You do agree we'd be in heaven if our DEBT was only 3 trillion right now ?
2. Clinton's surpluses had us on track to totally eliminate the debt.
3. Bush/Congress (a very stupid republican congress) spent the shit out of things on wars with little to no value. Big deficits.
In my mind both

 

[Sun Devil 92]

We need a plan to eliminate the deficit and start bringing down our debt.

NOW?

You aren't serious...

Not now......

Go away.

 

[Sun Devil 92]

Our projections were that on the current course, we would have reduced the debt to zero in three years.

Que?

Projections for what years?

The years following Clinton's term.

Under Clinton, we saw a surplus which lowered the debt. I don't have the figures in front of me, but I seem to recall we were about projected surplusses of nearly 1/2 trillion.

Now, the dot.com bubble burst and it could be argued those surpluses would go away, but the fact is that Bush took a very goo situation and destroyed it with his wars.

Yea well Bush the Lesser blew that away as fast as he could. Why are we talking about 20 years ago??

1. Becasue I was asked about it.
2. Don't stick your nose in the middle of something you don't understand.

 

[Sun Devil 92]

I’m not here to persuade knee-jerk trump haters that you are what you are

I merely comment that you are

Meaning, you suffer from Trump Denial Syndrome.

Normally, I scroll right past your bullshit.

But, this is a clear example of how you work.

You set the standard that you argue against. And you set it specifically for Trump. That way you don't have to apply it universally.

Also, you (a self-righteous, ignorant, arrogant left-winger) decide how everyone should feel about violations to the standard that you set.

You are why the left is in such a shitty place.

Keep up the good work.

I'm glad you were able to get that babbling, obtuse, word salad off your chest. You've reacted to the OP just as I thought Trumpleheads would. Defensively, ineffectually, hypocritically, confounded by the facts with no way to meaningfully refute them. Sad.

Show me where I was defensive.

Show me where I was hypocritical.

Fuck off.

 

[HappyJoy]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Our projections were that on the current course, we would have reduced the debt to zero in three years.

Of course, that didn't take into account the mild corrections that were already happening when Bush took over.

Three years? It took 4 years just to take off about 670 billion. Also you have to account for times when deficit spending is necessary as during recessions. Bush had one at the beginning of his term and well we know what happened in the end. In the meantime we had massive wasteful tax cuts that prevent us from reducing the deficit.

Nevertheless......don't you think we'd love to ONLY be 3 trillion in debt right now ?

And yes....those tax cuts really did do some major damage.

The Bush or Trump tax cuts?

I am not sure why you are telling me this.

My basic premise is:

1. Clinton/Congress had us going in the right direction. You do agree we'd be in heaven if our DEBT was only 3 trillion right now ?
2. Clinton's surpluses had us on track to totally eliminate the debt.
3. Bush/Congress (a very stupid republican congress) spent the shit out of things on wars with little to no value. Big deficits.
In my mind both

I'm just correcting you on the point that we weren't going to eliminate our debt in 3 years. With that said Republican presidents are always responsible for raising deficits whether they are warranted or not. Democrats track record is a little different as Obama raised deficits when needed, they were then going down until the king of debt came into office.

 

[Sun Devil 92]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Our projections were that on the current course, we would have reduced the debt to zero in three years.

Of course, that didn't take into account the mild corrections that were already happening when Bush took over.

Three years? It took 4 years just to take off about 670 billion. Also you have to account for times when deficit spending is necessary as during recessions. Bush had one at the beginning of his term and well we know what happened in the end. In the meantime we had massive wasteful tax cuts that prevent us from reducing the deficit.

Nevertheless......don't you think we'd love to ONLY be 3 trillion in debt right now ?

And yes....those tax cuts really did do some major damage.

The Bush or Trump tax cuts?

I am not sure why you are telling me this.

My basic premise is:

1. Clinton/Congress had us going in the right direction. You do agree we'd be in heaven if our DEBT was only 3 trillion right now ?
2. Clinton's surpluses had us on track to totally eliminate the debt.
3. Bush/Congress (a very stupid republican congress) spent the shit out of things on wars with little to no value. Big deficits.
In my mind both

I'm just correcting you on the point that we weren't going to eliminate our debt in 3 years. With that said Republican presidents are always responsible for raising deficits whether they are warranted or not. Democrats track record is a little different as Obama raised deficits when needed, they were then going down until the king of debt came into office.

I'll take your word for it as I was working from memory. But it sure felt like we were damn close.

 

[easyt65]

I always found one of the more maddening, unfounded criticisms of Obama by GOPer's (now POTer's) to be about the debt accumulated during his presidency. It was typically done in such a way as to use the raw numbers to imply Obama was a profligate and reckless spender of tax payer money. What those accusations lacked was context. The context being Obama inherited an economy in free fall. Losing 600K jobs a month, credit markets nearly frozen, a housing market that had crashed, and the impact of the Great Bush Recession being felt around the world. Essentially, he was blamed for a calamity not of his making. Then he was blamed for a stubbornly sluggish recovery to due systemically slow growth (that still persists), the depth of the recession, the enduring effect on the rest of the world, and the Repub's sabotage.

Fast forward to Capt. Clorox's presidency. Before doing so let's stipulate we won't focus on the Grifter-in-Chief's budget busting tax cut that had the country headed for a $1T+ deficit before COVID landed on our shores.

Let's also stipulate we won't discuss President Sunshine's culpability for the severity of COVID's spread in the US and the damage done to the economy as a result.

Instead, let's just focus on this. "The federal budget deficit is projected to be $3.7 trillion."

CBO’s Current Projections of Output, Employment, and Interest Rates and a Preliminary Look at Federal Deficits for 2020 and 2021

CBO discusses its preliminary projections of key economic variables and its preliminary assessments of federal budget deficits and debt through 2021. The amounts include the effects of legislation enacted in response to the pandemic.

www.cbo.gov

So......I'm just wondering out loud how Trumpleheads would react if Dems used the $3.7T number, without context as GOPer's did, to make accusations like, "the King of Debt is responsible for smashing the record for the largest budget deficit in a single year by over $2T?"

Doesn't seem fair to you does it? Remember that the next time you make accusations about Obama's deficits.

Barry and Democrats added the debt they did through insane Liberal Wish List Spending in the name of bullshit .... like NON-EXISTENT 'Shovel-ready' jobs.

The President and GOP (and their not doing it alone) are spending in an attempt to help American citizens and save the economy. While they were focused on those things, Nancy and the Democrats were focused - again - on engaging in Liberal Wish List spending...in the name of COVID-19.....like money for abortions, the Green New Deal, infrastructure, and funding more investigations / plots to take down the President.

Rather than help small businesses suffering from the virus, Pelosi rendered the House 'non-essential', walked away without voting on the bill, returned to ONE of her houses, showed off her $25K fridges and 13 expensive flavors of gourmet ice cream.....while Americans suffered.

Perhaps YOU forgot all of that ... but the American people won't forget in November.

 

[kyzr]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Our projections were that on the current course, we would have reduced the debt to zero in three years.

Of course, that didn't take into account the mild corrections that were already happening when Bush took over.

Three years? It took 4 years just to take off about 670 billion. Also you have to account for times when deficit spending is necessary as during recessions. Bush had one at the beginning of his term and well we know what happened in the end. In the meantime we had massive wasteful tax cuts that prevent us from reducing the deficit.

Nevertheless......don't you think we'd love to ONLY be 3 trillion in debt right now ?

And yes....those tax cuts really did do some major damage.

The Bush or Trump tax cuts?

I am not sure why you are telling me this.

My basic premise is:

1. Clinton/Congress had us going in the right direction. You do agree we'd be in heaven if our DEBT was only 3 trillion right now ?
2. Clinton's surpluses had us on track to totally eliminate the debt.
3. Bush/Congress (a very stupid republican congress) spent the shit out of things on wars with little to no value. Big deficits.
In my mind both

I'm just correcting you on the point that we weren't going to eliminate our debt in 3 years. With that said Republican presidents are always responsible for raising deficits whether they are warranted or not. Democrats track record is a little different as Obama raised deficits when needed, they were then going down until the king of debt came into office.

If Nancy and the democrats would have raised taxes when they took the House back in 2018 you might have a point. But they just went along with the irresponsible spending.
So now that they added $trillions in unpaid-for spending due to COVID, who is going to jump up and say:
1. We need to raise the top tax rate
2. We need to add a VAT (value added tax)
3. We need to tax stock and financial transactions
4. We need to add a Remittance Tax on money sent out of the US
5. Add any other reasonable tax, like on gas & oil to pay down some of the Debt and fund SS & Medicare

 

[Lesh]

We need a plan to eliminate the deficit and start bringing down our debt.

NOW?

You aren't serious...

Not now......

Go away.

Not now?

Ok when?

 

[HappyJoy]

We need a plan to eliminate the deficit and start bringing down our debt.

NOW?

You aren't serious...

Not now......

Go away.

Lesh is right, this isn't a time to prioritize deficits/debt. Last year was.

 

[Deplorable Yankee]

I always found one of the more maddening, unfounded criticisms of Obama by GOPer's (now POTer's) to be about the debt accumulated during his presidency. It was typically done in such a way as to use the raw numbers to imply Obama was a profligate and reckless spender of tax payer money. What those accusations lacked was context. The context being Obama inherited an economy in free fall. Losing 600K jobs a month, credit markets nearly frozen, a housing market that had crashed, and the impact of the Great Bush Recession being felt around the world. Essentially, he was blamed for a calamity not of his making. Then he was blamed for a stubbornly sluggish recovery to due systemically slow growth (that still persists), the depth of the recession, the enduring effect on the rest of the world, and the Repub's sabotage.

Fast forward to Capt. Clorox's presidency. Before doing so let's stipulate we won't focus on the Grifter-in-Chief's budget busting tax cut that had the country headed for a $1T+ deficit before COVID landed on our shores.

Let's also stipulate we won't discuss President Sunshine's culpability for the severity of COVID's spread in the US and the damage done to the economy as a result.

Instead, let's just focus on this. "The federal budget deficit is projected to be $3.7 trillion."

CBO’s Current Projections of Output, Employment, and Interest Rates and a Preliminary Look at Federal Deficits for 2020 and 2021

CBO discusses its preliminary projections of key economic variables and its preliminary assessments of federal budget deficits and debt through 2021. The amounts include the effects of legislation enacted in response to the pandemic.

www.cbo.gov

So......I'm just wondering out loud how Trumpleheads would react if Dems used the $3.7T number, without context as GOPer's did, to make accusations like, "the King of Debt is responsible for smashing the record for the largest budget deficit in a single year by over $2T?"

Doesn't seem fair to you does it? Remember that the next time you make accusations about Obama's deficits.

Both money printer go brrrrrr instances brought to you by bad government policy ......that's why we need more authoritarian government and burrecracies

Derp

 

[CrusaderFrank]

I always found one of the more maddening, unfounded criticisms of Obama by GOPer's (now POTer's) to be about the debt accumulated during his presidency. It was typically done in such a way as to use the raw numbers to imply Obama was a profligate and reckless spender of tax payer money. What those accusations lacked was context. The context being Obama inherited an economy in free fall. Losing 600K jobs a month, credit markets nearly frozen, a housing market that had crashed, and the impact of the Great Bush Recession being felt around the world. Essentially, he was blamed for a calamity not of his making. Then he was blamed for a stubbornly sluggish recovery to due systemically slow growth (that still persists), the depth of the recession, the enduring effect on the rest of the world, and the Repub's sabotage.

Fast forward to Capt. Clorox's presidency. Before doing so let's stipulate we won't focus on the Grifter-in-Chief's budget busting tax cut that had the country headed for a $1T+ deficit before COVID landed on our shores.

Let's also stipulate we won't discuss President Sunshine's culpability for the severity of COVID's spread in the US and the damage done to the economy as a result.

Instead, let's just focus on this. "The federal budget deficit is projected to be $3.7 trillion."

CBO’s Current Projections of Output, Employment, and Interest Rates and a Preliminary Look at Federal Deficits for 2020 and 2021

CBO discusses its preliminary projections of key economic variables and its preliminary assessments of federal budget deficits and debt through 2021. The amounts include the effects of legislation enacted in response to the pandemic.

www.cbo.gov

So......I'm just wondering out loud how Trumpleheads would react if Dems used the $3.7T number, without context as GOPer's did, to make accusations like, "the King of Debt is responsible for smashing the record for the largest budget deficit in a single year by over $2T?"

Doesn't seem fair to you does it? Remember that the next time you make accusations about Obama's deficits.

Thanks, Obama!

The Obama funded Wuhan Flu did that!

 

[HappyJoy]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Our projections were that on the current course, we would have reduced the debt to zero in three years.

Of course, that didn't take into account the mild corrections that were already happening when Bush took over.

Three years? It took 4 years just to take off about 670 billion. Also you have to account for times when deficit spending is necessary as during recessions. Bush had one at the beginning of his term and well we know what happened in the end. In the meantime we had massive wasteful tax cuts that prevent us from reducing the deficit.

Nevertheless......don't you think we'd love to ONLY be 3 trillion in debt right now ?

And yes....those tax cuts really did do some major damage.

The Bush or Trump tax cuts?

I am not sure why you are telling me this.

My basic premise is:

1. Clinton/Congress had us going in the right direction. You do agree we'd be in heaven if our DEBT was only 3 trillion right now ?
2. Clinton's surpluses had us on track to totally eliminate the debt.
3. Bush/Congress (a very stupid republican congress) spent the shit out of things on wars with little to no value. Big deficits.
In my mind both

I'm just correcting you on the point that we weren't going to eliminate our debt in 3 years. With that said Republican presidents are always responsible for raising deficits whether they are warranted or not. Democrats track record is a little different as Obama raised deficits when needed, they were then going down until the king of debt came into office.

If Nancy and the democrats would have raised taxes when they took the House back in 2018 you might have a point. But they just went along with the irresponsible spending.
So now that they added $trillions in unpaid-for spending due to COVID, who is going to jump up and say:
1. We need to raise the top tax rate
2. We need to add a VAT (value added tax)
3. We need to tax stock and financial transactions
4. We need to add a Remittance Tax on money sent out of the US
5. Add any other reasonable tax, like on gas & oil to pay down some of the Debt and fund SS & Medicare

There are a lot of Democrats who want to do many of those things. They are referred to on this board as Communists.

 

[Sun Devil 92]

We need a plan to eliminate the deficit and start bringing down our debt.

NOW?

You aren't serious...

Not now......

Go away.

Lesh is right, this isn't a time to prioritize deficits/debt. Last year was.

If I have given the impression we need to do this NOW, it was not intended.

My objection has been that for a long time, nobody has really addressed this issue.

When we are ready, it needs serious attention.

Not bullshit lipservice.

 

[Sun Devil 92]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Our projections were that on the current course, we would have reduced the debt to zero in three years.

Of course, that didn't take into account the mild corrections that were already happening when Bush took over.

Three years? It took 4 years just to take off about 670 billion. Also you have to account for times when deficit spending is necessary as during recessions. Bush had one at the beginning of his term and well we know what happened in the end. In the meantime we had massive wasteful tax cuts that prevent us from reducing the deficit.

Nevertheless......don't you think we'd love to ONLY be 3 trillion in debt right now ?

And yes....those tax cuts really did do some major damage.

The Bush or Trump tax cuts?

I am not sure why you are telling me this.

My basic premise is:

1. Clinton/Congress had us going in the right direction. You do agree we'd be in heaven if our DEBT was only 3 trillion right now ?
2. Clinton's surpluses had us on track to totally eliminate the debt.
3. Bush/Congress (a very stupid republican congress) spent the shit out of things on wars with little to no value. Big deficits.
In my mind both

I'm just correcting you on the point that we weren't going to eliminate our debt in 3 years. With that said Republican presidents are always responsible for raising deficits whether they are warranted or not. Democrats track record is a little different as Obama raised deficits when needed, they were then going down until the king of debt came into office.

If Nancy and the democrats would have raised taxes when they took the House back in 2018 you might have a point. But they just went along with the irresponsible spending.
So now that they added $trillions in unpaid-for spending due to COVID, who is going to jump up and say:
1. We need to raise the top tax rate
2. We need to add a VAT (value added tax)
3. We need to tax stock and financial transactions
4. We need to add a Remittance Tax on money sent out of the US
5. Add any other reasonable tax, like on gas & oil to pay down some of the Debt and fund SS & Medicare

Hold on.....

What about spending cuts.

 

[easyt65]

Democrats track record is a little different as Obama raised deficits when needed.....

The Democrats added $1.5 TRILLION in new debt during Bush's last 2 years in office (Compared to Bush's & the GOP's $2.5 Trillion over 6 years during 9/11/01, the economic impact, and 2 wars).

Obama and the Democrats - who held a near super-majority control of Congress Barry's 1st 2 years - engaged in an INSANE amount of debt addition, much of it Liberal Wet Dream Wish List BS that also was intended to help them get re-elected.
-- Some of my favorites included funding for new-tech/updated windows for a ranger station...tha thad not been used in approx. 3 years, 'shrimp on a treadmill', and a 'main street widening' project in this small little town that eliminated parking in front of the stores and restaurant....resulting in several stores and the restaurant that had been there for decades going under. No one wanted to walk 3 blocks to go shop / eat at the restaurant anymore. Beautiful.


Of course, the 'cherry on top' was how the Bank told Barry he HAD to make some cuts to his budget to show he was serious about getting the growing US debt under control...Obama gave him the proverbial finger, signed his $1+ trillion debt-adding budget...and the US was it with its 1st US credit rating downgrade in US history.

Yeah, Barry and the Democrats 'only raised the debt when they needed to'....well, except after wasting all that money / adding all that debt he had to publicly admit that THERE IS NO SUCH THING AS SHOVEL-READY JUBS.


'Oops...MY bad Amurika...'

 

[Toddsterpatriot]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Those tax cuts really kind of fucked us over now, huh?

Were 2019 tax receipts higher than 2017 (before the tax cuts) tax receipts?

I would hope they were higher in 2019. Would they be higher without the tax cuts?

I would hope they were higher in 2019.

They were higher. So how did the tax cuts fuck us over?

Would they be higher without the tax cuts?

How much higher? Show your work.

Show my work? Cute.

US lost more tax revenue than any other developed country in 2018 due to Trump tax cuts, new report says

The U.S. tax-to-GDP ratio fell the most of any OECD member country in 2018, according to a new report released Thursday.

www.cnbc.com

U.S. tax revenue as a proportion of GDP dropped the most out of any country in the Organisation for Economic Co-operation and Development in 2018, according to a report released Thursday.​

​

That’s largely due to the $1.5 trillion GOP tax cut President Donald Trump signed into law in 2017.​

​

The tax cuts dramatically altered the U.S. tax landscape for the first time in decades by permanently slashing the corporate tax rate from 35% to 21%, temporarily cutting individual tax rates and limiting state and local tax deductions, among other changes.​

​

From 2017 to 2018, the U.S. tax-to-GDP ratio fell from 26.8% to 24.3%, the OECD found, while corporate tax revenues fell by .7% and personal income tax revenues dropped by .5%.​

​

The OECD’s overall tax-to-GDP ratio, meanwhile, remained relatively unchanged between 2017 and 2018, from 34.2% to 34.3%.​

​

View attachment 328828​

​

Thirty-six countries, including many key U.S. allies and economic partners, make up the Paris-based OECD, which serves as a forum for market-oriented democratic countries to discuss global economic issues and policies.​

​

Ireland, Chile and Mexico ranked below the U.S. for 2018, though preliminary data for Australia and Japan have yet to be released.​

​

Only Hungary and Israel came close to the U.S.′ 2.5% tax-to-GDP ratio drop, at 1.6% and 1.4%, respectively.​

​

View attachment 328829​

while corporate tax revenues fell by .7% and personal income tax revenues dropped by .5%.

1.2% of GDP. So about $240 billion? That's all it takes to "fuck us over"?

 

[HappyJoy]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Those tax cuts really kind of fucked us over now, huh?

Were 2019 tax receipts higher than 2017 (before the tax cuts) tax receipts?

I would hope they were higher in 2019. Would they be higher without the tax cuts?

I would hope they were higher in 2019.

They were higher. So how did the tax cuts fuck us over?

Would they be higher without the tax cuts?

How much higher? Show your work.

Show my work? Cute.

US lost more tax revenue than any other developed country in 2018 due to Trump tax cuts, new report says

The U.S. tax-to-GDP ratio fell the most of any OECD member country in 2018, according to a new report released Thursday.

www.cnbc.com

U.S. tax revenue as a proportion of GDP dropped the most out of any country in the Organisation for Economic Co-operation and Development in 2018, according to a report released Thursday.​

​

That’s largely due to the $1.5 trillion GOP tax cut President Donald Trump signed into law in 2017.​

​

The tax cuts dramatically altered the U.S. tax landscape for the first time in decades by permanently slashing the corporate tax rate from 35% to 21%, temporarily cutting individual tax rates and limiting state and local tax deductions, among other changes.​

​

From 2017 to 2018, the U.S. tax-to-GDP ratio fell from 26.8% to 24.3%, the OECD found, while corporate tax revenues fell by .7% and personal income tax revenues dropped by .5%.​

​

The OECD’s overall tax-to-GDP ratio, meanwhile, remained relatively unchanged between 2017 and 2018, from 34.2% to 34.3%.​

​

View attachment 328828​

​

Thirty-six countries, including many key U.S. allies and economic partners, make up the Paris-based OECD, which serves as a forum for market-oriented democratic countries to discuss global economic issues and policies.​

​

Ireland, Chile and Mexico ranked below the U.S. for 2018, though preliminary data for Australia and Japan have yet to be released.​

​

Only Hungary and Israel came close to the U.S.′ 2.5% tax-to-GDP ratio drop, at 1.6% and 1.4%, respectively.​

​

View attachment 328829​

while corporate tax revenues fell by .7% and personal income tax revenues dropped by .5%.

1.2% of GDP. So about $240 billion? That's all it takes to "fuck us over"?

Read the article. Income tax revenue fell as proportion to GDP and comparatively to other countries.

 

[Toddsterpatriot]

GWB was a moron. He had almost no debt when he took office.

I think W was a very bad president so I don't want you to interpret what I say as defending him. However what is your definition of 'almost no debt'? Our national debt was certainly lower back then but over 3 trillion is hardly anything close to almost no debt.

Of course with Trump before COVID we were heading towards trillion dollar deficits. Those tax cuts really kind of fucked us over now, huh?

Those tax cuts really kind of fucked us over now, huh?

Were 2019 tax receipts higher than 2017 (before the tax cuts) tax receipts?

I would hope they were higher in 2019. Would they be higher without the tax cuts?

I would hope they were higher in 2019.

They were higher. So how did the tax cuts fuck us over?

Would they be higher without the tax cuts?

How much higher? Show your work.

Show my work? Cute.

US lost more tax revenue than any other developed country in 2018 due to Trump tax cuts, new report says

The U.S. tax-to-GDP ratio fell the most of any OECD member country in 2018, according to a new report released Thursday.

www.cnbc.com

U.S. tax revenue as a proportion of GDP dropped the most out of any country in the Organisation for Economic Co-operation and Development in 2018, according to a report released Thursday.​

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That’s largely due to the $1.5 trillion GOP tax cut President Donald Trump signed into law in 2017.​

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The tax cuts dramatically altered the U.S. tax landscape for the first time in decades by permanently slashing the corporate tax rate from 35% to 21%, temporarily cutting individual tax rates and limiting state and local tax deductions, among other changes.​

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From 2017 to 2018, the U.S. tax-to-GDP ratio fell from 26.8% to 24.3%, the OECD found, while corporate tax revenues fell by .7% and personal income tax revenues dropped by .5%.​

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The OECD’s overall tax-to-GDP ratio, meanwhile, remained relatively unchanged between 2017 and 2018, from 34.2% to 34.3%.​

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Thirty-six countries, including many key U.S. allies and economic partners, make up the Paris-based OECD, which serves as a forum for market-oriented democratic countries to discuss global economic issues and policies.​

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Ireland, Chile and Mexico ranked below the U.S. for 2018, though preliminary data for Australia and Japan have yet to be released.​

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Only Hungary and Israel came close to the U.S.′ 2.5% tax-to-GDP ratio drop, at 1.6% and 1.4%, respectively.​

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while corporate tax revenues fell by .7% and personal income tax revenues dropped by .5%.

1.2% of GDP. So about $240 billion? That's all it takes to "fuck us over"?

Read the article. Income tax revenue fell as proportion to GDP and comparatively to other countries.

Income tax revenue fell as proportion to GDP and comparatively to other countries.

I know. By 2.5%. Just awful!