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

[Wyatt earp]

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.

Do I pay taxes in Canada?

I don't even like you guys yet, I have to protect you

 

[eagle1462010]

Since 1950 our historical rate of Revenue has remained an average of roughly 18.1 % REGARDLESS OF TAX RATE.

You cannot spend 24.1 % of the GDP and expect anything other than more debt.

Government - Interest Expense on the Debt Outstanding

222 BILLION spent on interest on the debt this year. You do not get rid of this by borrowing more.

 

[radical right]

Do I pay taxes in Canada?

I don't even know if you pay taxes in the USA.

 

[Wyatt earp]

Do I pay taxes in Canada?

I don't even know if you pay taxes in the USA.

You will never see any of it...a candian?

 

[eagle1462010]

 

[Wyatt earp]

Do I pay taxes in Canada?

I don't even know if you pay taxes in the USA.

Ok welcome.. just didn't know

 

[bripat9643]

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

Meaningless tripe. Everyone views the government as something external to them and something hostile to them, and they are right.

 

[bripat9643]

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.

hmmmm, wrong. That was Obama's first deficit.

 

[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.

hmmmm, wrong. That was Obama's first deficit.

LIAR!
Obama never had a $1.5 trillion deficit.

 

[Skull Pilot]

Every time I looked up Laffer, it would ask "do you mean LAUGHTER?"

The US economy is way, way on the left side of the Laffer curve. That's why cutting taxes cuts revenue. Only the most delusional supply-side cultists have faith that, contrary to all evidence, the economy is somehow magically on the right side of it.

Now, a major tax cut does bring in a quick surge of revenue, as rich people rush to cash in assets at the new reduced tax rate. Long term, tax cuts will cut revenue.

so what if it cuts revenue?

the government needs to be forced to downsize

 

[Skull Pilot]

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?

Clinton surfed the tech bubble out of office that's what caused the increase in revenue and it popped in 2001

 

[Skull Pilot]

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.

hmmmm, wrong. That was Obama's first deficit.

LIAR!
Obama never had a $1.5 trillion deficit.

no it was only 1.4 trillion in 2009

 

[Skull Pilot]

Obama tripled the deficit, moron.

No that was Reagan,

obama doubled the debt

 

[Skull Pilot]

do both at the same time

That is the way it is supposed to be done

You don't go to your boss and ask him to cut your hours and then try to figure which bills will get paid

You cut your bills first and then decide you can work less hours

that works great when you are earning your own money but government doesn't earn its own money it TAKES money from us. If we say it has to take less then that's how it is going to be

First, the drug war, right wingers.

do you have a short and long term memory deficiency?

I have told you multiple times that I think all drugs should be legalized

then, stop complaining about taxes until we abolish the drug war.

so we just let the government keep taking our money until the drug war is abolished

well not your money because you're an unemployed masturbation addict still living in mama's basement

 

[Skull Pilot]

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

maybe it used to be but not anymore

 

[edthecynic]

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.

hmmmm, wrong. That was Obama's first deficit.

LIAR!
Obama never had a $1.5 trillion deficit.

no it was only 1.4 trillion in 2009

And fiscal 2009 belongs to Bush!

 

[Skull Pilot]

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?

any income should only be taxed at one rate and everyone should pay that tax from dollar one of earnings

 

[edthecynic]

Obama tripled the deficit, moron.

No that was Reagan,

obama doubled the debt

Liar!

 

[Skull Pilot]

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.

hmmmm, wrong. That was Obama's first deficit.

LIAR!
Obama never had a $1.5 trillion deficit.

no it was only 1.4 trillion in 2009

And fiscal 2009 belongs to Bush!

it was also 1.3 trillion in 2010

and Obama managed to increase the debt more than any other president

so I really don't understand why you are defending his fiscal record

 

[Skull Pilot]

Obama tripled the deficit, moron.

No that was Reagan,

obama doubled the debt

Liar!

National debt nearly doubles under Obama