Rand Paul doubles down on big, beautiful bill criticism after Trump slam

[Marener]

Well, some of that is true enough, it's not entirely true. Tax tables do go up, and from the middle, we always end up it seems paying more. BUT, In the world of those who have deductions, and stimulate the economy through investment, They're more likely to pay instead of looking for ways to legally hide the money....

Either way, tax cuts, especially to the middle, have positive benefits, with no detraction to revenues.

This is gibberish and doesn’t really address the point I made.

Tax revenues always go up. Therefore, you can’t use that as a metric to say whether tax cuts cause them to go up.

 

[mudwhistle]

Cutting taxes just to borrow more is good politics but it is terrible economics, that is how we got a $36T Debt.
Cutting taxes only raises revenue if there is more borrowing.

Where did you get that idea?

Revenue is whatever the government takes in, either in taxes or tariffs.

Borrowing by the government usually comes from one source. Social Security.

They can issue bonds, which is an extremely long-term loan, but most revenue comes from taxes.

I can see why your masters think raising tariffs is bad, because in April we had a surplus.....and if Trump raised tariffs enough he could pay off the debt in a shorter period of time, and congress doesn't want that.

 

[HikerGuy83]

Cutting taxes prevents congress from spending more of our money on nonsense.

Not sure how you see that.

They've always been good at spending money they don't have.

 

[JWBooth]

That's beside the point.

I think DOGE proved that the more money you give congress, the more money they waste on stupid shit that does nothing to improve the economy.

It is exactly the point. DOGE did prove that, and in this tragicomedy gave a shiny object to distract from nothing is gonna actually change.

 

[leftwinger]

Sigh..yes...cutting taxes DOES increase the debt.
Money in => less....

Math...101.

Initially yes. If it creates economic growth then revenue rises. They can collect ONLY 20% of GDP (proven over 100 years) no matter how they tax.

If GDP rises, revenue rises. //

 

[leftwinger]

KA fucking BOOM!!!!!!!!!!! Nailed it to the floor.


All Johnson and his RINO's have talked about is doing Trumps bidding. Getting what Trump wants. Doing what Trump wants them to do. And now that Trumps true blue colors are showing, the bots have to come up with a new line of BS. Like blaming everyone except Trump.

BS. Today Johnson says the bill was worked on for 14 months. Trump in month 5.

And Leon Musk will not answer Lil dicky Johnson phone calls. Lol! Panic setting in?

This is ALL Trump could get quickly but not ALL Trumps doings. It is a start. A lot of good is in this 100 pages also.

 

[mudwhistle]

Not sure how you see that.

They've always been good at spending money they don't have.

Our money doesn't belong to congress, even though they think it does.

Learn to grasp that concept and then maybe you'll understand what I'm saying.

 

[mudwhistle]

It is exactly the point. DOGE did prove that, and in this tragicomedy gave a shiny object to distract from nothing is gonna actually change.

If you want to change Washington, force them to install term-limits.
That's the best way to end the corruption.

 

[Missouri_Mike]

His father never did. Apple/tree and all that.

And he didn’t get anything done either.

 

[Zincwarrior]

They can and should but they need most of their income for current needs

The rich have enough money to impress in risky new ideas

Because they don't pay taxes.

 

[bendog]

Cut spending and you reduce economic activity and reduce growth.

Same as raising taxes.

Both suck, but are effective ways at reducing the budget deficits.

I don't see how cutting govt spending will absolutely reduce growth, because when the Treasury (READ TRUMP or any other sitting potus) issues Tbills to finance deficit spending, the EFFECT is more dollars. And those dollars are a cause of inflation, and LESS growth, because of higher interest rates.

Cutting govt spending may reduce the size of govt, but growing gummit jobs with debt is not a key to econ success.

 

[Marener]

I don't see how cutting govt spending will absolutely reduce growth, because when the Treasury (READ TRUMP or any other sitting potus) issues Tbills to finance deficit spending, the EFFECT is more dollars. And those dollars are a cause of inflation, and LESS growth, because of higher interest rates.

Cutting govt spending may reduce the size of govt, but growing gummit jobs with debt is not a key to econ success.

This is a fundamental error many people make.

The Treasury does not create money by issuing T-bills. The Fed is the only one that can create money. They can buy T-Bills when they’re engaging in quantitative easing, but that’s a special circumstance in periods of serious financial and economic turmoil.

Government spending does increase economic activity. If the government builds a military base, that’s jobs, income and economic activity. If the government cuts Medicaid, a rural hospital may have to close, laying off all their employees from doctors to janitors.

 

[mudwhistle]

This is a fundamental error many people make.

The Treasury does not create money by issuing T-bills. The Fed is the only one that can create money. They can buy T-Bills when they’re engaging in quantitative easing, but that’s a special circumstance in periods of serious financial and economic turmoil.

Government spending does increase economic activity. If the government builds a military base, that’s jobs, income and economic activity. If the government cuts Medicaid, a rural hospital may have to close, laying off all their employees from doctors to janitors.

This is a fundamental error many people make.

The Treasury does not create money by issuing T-bills. The Fed is the only one that can create money. They can buy T-Bills when they’re engaging in quantitative easing, but that’s a special circumstance in periods of serious financial and economic turmoil.

Government spending does increase economic activity. If the government builds a military base, that’s jobs, income and economic activity. If the government cuts Medicaid, a rural hospital may have to close, laying off all their employees from doctors to janitors.

The Treasury puts in an order to print USDs.

The Federal Reserve prints the money.

The Treasury issues that printed money one way or another.

 

[C_Clayton_Jones]

Rand Paul never supports a budget

Unless it harms more Americans.

 

[dblack]

Unless it harms more Americans.

Harming Americans is his main purpose in life!

 

[Marener]

The Treasury puts in an order to print USDs.

The Federal Reserve prints the money.

The Treasury issues that printed money one way or another.

That’s not what happens.

 

[rightwinger]

Unless it harms more Americans.

Rand Paul wants to spend no money
Any budget that spends tax dollars gets a NO

 

[Mac-7]

Because they don't pay taxes.

They pay income taxes and taxes on capital gains

 

[bendog]

This is a fundamental error many people make.

The Treasury does not create money by issuing T-bills. The Fed is the only one that can create money. They can buy T-Bills when they’re engaging in quantitative easing, but that’s a special circumstance in periods of serious financial and economic turmoil.

Government spending does increase economic activity. If the government builds a military base, that’s jobs, income and economic activity. If the government cuts Medicaid, a rural hospital may have to close, laying off all their employees from doctors to janitors.

I did try the simplistic approach, but since you insist. When the treasury auctions off new bills to finance deficit spending, three things can occur.

1) a private investor (or say Jina) can pay hard cold cash for the debt and the accompanying interest payments. The govt may then issue even more debt to pay the interest. However, even if the govt can pay the interest without more deficit spending, paying the interest takes money OUT OF THE US econ. The fed of course can issue more tbills or the treasury can print more money. Both are inflationary in that - the effect - is MORE DOLLARS wITHOUT any corresponding growth in the econ.

2. We have recently had Tbill auctions where we lacked sufficient buyers. In that case, the Fed just magically increases the amount of money held in its member banks, and buys the tbills and adds that to its QE balance. I'm not wasting time on why that is inflationary.

3. Nobody buys the new debt, and the US defaults on its debt. Personally, I think trump is fucking nuts enough to do this.

ps, IF YUO READ MY PREVIOUS POST, YOU WILL SEE I SAID THE "EFFECT" OF THE FED IS TO CREATE MONEY, NOT THAT THE FED HAS PRINTING PRESSES. IT DOESN'T NEED THEM BECAUSE IT CAN JUST "CREATE" MORE "LIQUIDITY" FOR ITS MEMBER BANKS TO LEND. oR IT CAN ACTUALLY DECREASE LIQUIDITY, WHICH MAKES IT HARDER TO BORROW MONEY.

 

[Stann]

One thing is certain....Rand Paul won't be moved on this issue.
The more Trump trashes him, the more energy he gets:

https://thehill.com/homenews/senate/5330468-rand-paul-doubles-down-on-big-beautiful-bill-criticism-after-trump-slam/

Sen. Rand Paul (R-Ky.) doubled down on his objections to President Trump’s House-passed “big, beautiful bill” in Tuesday comments.

Paul said he strongly opposes raising the debt ceiling, which would be hiked by $4 trillion under the current legislation. Lawmakers have speculated the increase could cause debt to swell by $30 trillion over the next decade.

“I want to see the tax cuts made permanent, but I also want to see the $5 trillion in new debt removed from the bill. At least 4 of us in the Senate feel this way,” Paul wrote in a Tuesday morning post on the social platform X.

Republicans have a majority in the upper chamber but can only afford to have three defections to ensure the bill’s passage.

Paul, alongside Sens. Ron Johnson (R-Wis.), Rick Scott (R-Fla.) and Mike Lee(R-Utah), has urged his colleagues to cut down on spending allotments to rein in the country’s debt.

I'm glad there are at least a few republicans who question trump and his policies. Imagine letting this madman have his way with everything. It would be a disaster