Tax cuts do not cost anything. Nor do they need to be "paid for"

[rightwinger]

Progressives believe that the government IS the economy, that's why they have a 100% Fail guarantee

The government is We the People

That's the way we wrote it

 

[radical right]

Wrong. It was Obama. The deficit went from $500 billion to $1500 billion after he ascended the throne.

You got that backwards, FY 2009 - $1.5 trillion, FY 2017 - $500 Billion

 

[initforme]

Nobody can cite a time when trickle down economics worked. The fact is when the rich win the middle class has to lose. They are at odds and conflict with each other. Basic economics.

 

[edthecynic]

Obama tripled the deficit, moron.

No that was Reagan,

Wrong. It was Obama. The deficit went from $500 billion to $1500 billion after he ascended the throne.

Bush's last deficit was the $1500 billion, up from $1 billion the year before, Bush's $500 billion deficit was 2007. Reagan jacked Carter's last deficit of $74 billion up to $221 billion in 1986.

 

[radical right]

Obama tripled the deficit, moron.

No that was Reagan,

Wrong. It was Obama. The deficit went from $500 billion to $1500 billion after he ascended the throne.

Bush's last deficit was the $1500 billion, up from $1 billion the year before, Bush's $500 billion deficit was 2007. Reagan jacked Carter's last deficit of $74 billion up to $221 billion in 1986.

Illegal use of FACTS. Those show just the opposite of Obama tripled the deficit. Or Reagan cut the deficit.

 

[initforme]

In the very end it comes down to the rich vs the rest. Its a constant conflict.

 

[edthecynic]

Reagan dropped the top marginal tax rate from 71% to 28%. It was also made retroactive, so yeah the first couple of years there was a slight decline. Over the course of his presidency this was not the case. Nor is it ever the case when top marginal tax rates are cut. You must give the new rates time to effect the market. What this amounts to is leftist demagoguery and clever parsing of data.

Except over the course of his regime St Ronnie RAISED taxes repeatedly, except the top marginal rate, on everything from gas to even social security benefits, that's right not only did Reagan raise payroll taxes he was the one who started taxing you when you collected your benefits, too. Only after he raised taxes did revenue and the partisan Right-wing demagoguery is leaving that fact out!!!

Where were taxes when Reagan entered office, where were they when he left?

Taxes on social security income were zero when Reagan entered office and up to 50% of SS was taxable at regular income tax rates starting 1984 after Reagan signed the bill initiating taxing SS in 1983 because revenue had dropped so much due to his cutting the top marginal rate so much.

 

[danielpalos]

Obama tripled the deficit, moron.

No that was Reagan,

Wrong. It was Obama. The deficit went from $500 billion to $1500 billion after he ascended the throne.

Bush's last deficit was the $1500 billion, up from $1 billion the year before, Bush's $500 billion deficit was 2007. Reagan jacked Carter's last deficit of $74 billion up to $221 billion in 1986.

Spend and finance is the only thing the right wing does well.

 

[danielpalos]

Reagan dropped the top marginal tax rate from 71% to 28%. It was also made retroactive, so yeah the first couple of years there was a slight decline. Over the course of his presidency this was not the case. Nor is it ever the case when top marginal tax rates are cut. You must give the new rates time to effect the market. What this amounts to is leftist demagoguery and clever parsing of data.

Except over the course of his regime St Ronnie RAISED taxes repeatedly, except the top marginal rate, on everything from gas to even social security benefits, that's right not only did Reagan raise payroll taxes he was the one who started taxing you when you collected your benefits, too. Only after he raised taxes did revenue and the partisan Right-wing demagoguery is leaving that fact out!!!

Where were taxes when Reagan entered office, where were they when he left?

Taxes on social security income were zero when Reagan entered office and up to 50% of SS was taxable at regular income tax rates starting 1984 after Reagan signed the bill initiating taxing SS in 1983 because revenue had dropped so much due to his cutting the top marginal rate so much.

Fifty percent of capital gains tax for the one percent, should be taxed at regular income rates.

 

[rightwinger]

Reagan dropped the top marginal tax rate from 71% to 28%. It was also made retroactive, so yeah the first couple of years there was a slight decline. Over the course of his presidency this was not the case. Nor is it ever the case when top marginal tax rates are cut. You must give the new rates time to effect the market. What this amounts to is leftist demagoguery and clever parsing of data.

Except over the course of his regime St Ronnie RAISED taxes repeatedly, except the top marginal rate, on everything from gas to even social security benefits, that's right not only did Reagan raise payroll taxes he was the one who started taxing you when you collected your benefits, too. Only after he raised taxes did revenue and the partisan Right-wing demagoguery is leaving that fact out!!!

Where were taxes when Reagan entered office, where were they when he left?

Taxes on social security income were zero when Reagan entered office and up to 50% of SS was taxable at regular income tax rates starting 1984 after Reagan signed the bill initiating taxing SS in 1983 because revenue had dropped so much due to his cutting the top marginal rate so much.

Fifty percent of capital gains tax for the one percent, should be taxed at regular income rates.

All of it should be taxed at regular income rates

Why should someone earning income digging a ditch pay a higher rate than someone moving money from one place to another?

 

[initforme]

Because some believe the ditch digger isn't Important. The might CEO is very important even though they don't have to put in much effort.

 

[danielpalos]

Reagan dropped the top marginal tax rate from 71% to 28%. It was also made retroactive, so yeah the first couple of years there was a slight decline. Over the course of his presidency this was not the case. Nor is it ever the case when top marginal tax rates are cut. You must give the new rates time to effect the market. What this amounts to is leftist demagoguery and clever parsing of data.

Except over the course of his regime St Ronnie RAISED taxes repeatedly, except the top marginal rate, on everything from gas to even social security benefits, that's right not only did Reagan raise payroll taxes he was the one who started taxing you when you collected your benefits, too. Only after he raised taxes did revenue and the partisan Right-wing demagoguery is leaving that fact out!!!

Where were taxes when Reagan entered office, where were they when he left?

Taxes on social security income were zero when Reagan entered office and up to 50% of SS was taxable at regular income tax rates starting 1984 after Reagan signed the bill initiating taxing SS in 1983 because revenue had dropped so much due to his cutting the top marginal rate so much.

Fifty percent of capital gains tax for the one percent, should be taxed at regular income rates.

All of it should be taxed at regular income rates

Why should someone earning income digging a ditch pay a higher rate than someone moving money from one place to another?

I defer to your motion.

 

[Wyatt earp]

The peak of the Laffer curve is probably somewhere around 15%.

Clinton raised taxes that were already way past 15%. Your Sacred Dogma says revenue should have gone down. Indeed, every Republican of the era loudly predicted exactly that, along with predicting the economy would crash.

Instead, revenue went up, and the economy boomed.

How does the Holy Scripture of your Supply Side Cult explain that?

I know you cultists often invoke the ghastly specter of "The Dot-Com bubble", even though it makes no sense a all, and is an obvious red herring. Got anything better?

Dot com

 

[Wyatt earp]

Obama had him smoking three packs a day, moron. That would make your analogy more accurate.

Obama cut the deficit by more than 60%, Trump wants to start increasing the deficits again. Even though Trump promised to eliminate the deficits, and Trump even promised to pay off the national debt. Of course Trump reversed himself on any fiscal responsibility.

Obama tripled the deficit, moron.

Conservatives and math

Like oil and water

Bahaha ha..

You didn't even know tax day was April 18 th

 

[radical right]

Why should someone earning income digging a ditch pay a higher rate than someone moving money from one place to another?

It shows the republican talking points are wrong. They say people do more of the things they're taxed at a lower rate, and less of what they're taxed at a higher rate.

 

[radical right]

Bahaha ha..

You didn't even know tax day was April 18 th

It's April 30th in Canada. I bet you didn't even know that.

 

[Rustic]

When your income fluctuates you are supposed to compensate by adjusting your spending accordingly.

The government receives money from working Americans. The government then spends that money on various shit. When the government decides to STEAL LESS FROM YOU it is supposed to adjust it's budget accordingly but it never does. The spending continues because they know they can STEAL more from you latter to compensate for their irresponsible behavior.

Ultimately they are giving you back what was yours all along so it is NOT spending that has to be accounted for but rather an opportunity for them to prove they can live within their means.

So very true, Federal government has no claim to future perceived taxes.

 

[radical right]

So very true, Federal government has no claim to future perceived taxes.

Every government budgets based on projected tax revenue. So do people. Nobody gets a mortgage based on their being laid off.

 

[Rustic]

Ah, a supply-side True Believer.

Supply side policies always fail, of course, because they're fantasy-based. In their mythical world, cutting taxes on rich people and leaving less for the middle class means rich people will create jobs, and eventually it will trickle back down on everyone else.

Not what happens, of course. The rich people just pocket the money, so the middle class pays more and gets nothing.

First, there's no shortage of investment capital, so having more investment capital available doesn't do anything.

Second, cutting taxes on the rich doesn't actually create make more capital. Tax cuts have to be paid for by selling T-bills, which take the money that the rich saved in tax cuts right back out of the economy.

And third, economies are demand driven, not supply driven. If there's demand for products from the middle class, then the supply will follow. Someone will want to make money satisfying that demand. That's capitalism. It builds up from the bottom.

The motherfucking federal government has no claim to future perceived taxes, they have no right to think they do.

 

[Rustic]

Tax cuts are like fasting for fat people, they just work and it makes for a much healthier better looking person/country.