Trump budget would spike deficits by nearly 5 times Harris proposal, says Penn Wharton

[C_Clayton_Jones]

Former President Donald Trump’s economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model.

The Trump report found that his plan to permanently extend the 2017 tax cuts would add over $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion.

The Harris analysis showed that her plan to expand the Child Tax Credit, the Earned Income Tax Credit and other tax credits would raise deficits by $2.1 trillion in the coming 10 years. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade.

But the Harris report found that raising the corporate tax rate to 28% from its current level of 21%, as the vice president has floated, could partially offset the costs of her spending by $1.1 trillion.
https://www.cnbc.com/2024/08/27/trump-harris-budget-deficit-economy-election.html

Don lives for the now. He wants the kind of adulation associated with a strong economy (the kind Biden never got) coming from the stimulative affect of a tax cut. Just like in his first term. One wonders if he'll claim a tax cut will cause a reduction in the deficit as he did last time. It's a promise Repubs frequently make, never coming to fruition.

Note to Don's minions: don't assassinate the character of the guy who authored the study. If you can find fault with his methodology, fine. Just don't waste time with ad hominem attacks.

Deficits are OK if caused by a Republican president.

Such is the hypocrisy of the blind partisan right.

 

[Toddsterpatriot]

Deficits are OK if caused by a Republican president.

Such is the hypocrisy of the blind partisan right.

With over 3 months to go, Biden has already added $8 trillion to the debt.

Obama and Biden combined have added nearly 49% of the total outstanding public debt in less than 12 years.

 

[Fort Fun Indiana]

With over 3 months to go, Biden has already added $8 trillion to the debt.

Obama and Biden combined have added nearly 49% of the total outstanding public debt in less than 12 years.

So we should vote for the guy whose ideas make the bigger deficits, of the two candidates?

So we shouldn't care about deficits? Or we should?

You're sending very mixed signals.

 

[Toddsterpatriot]

So we should vote for the guy whose ideas make the bigger deficits, of the two candidates?

So we shouldn't care about deficits? Or we should?

You're sending very mixed signals.

Trump added less to the debt than Biden/Harris.

 

[Fort Fun Indiana]

Trump added less to the debt than Biden/Harris.

Cool, but were voting in 2024, not 2020, at the start of a Trump budget year you're counting against Biden.

Trump's plans lead to bigger deficits than Kamala's. Much bigger.

You're actually in the thread about it.

 

[SmokeALib]

So we should vote for the guy whose ideas make the bigger deficits, of the two candidates?

So we shouldn't care about deficits? Or we should?

You're sending very mixed signals.

We should vote for the guy who can run this country. Your queen couldn't run a laundromat.

 

[Toddsterpatriot]

Cool, but were voting in 2024, not 2020, at the start of a Trump budget year you're counting against Biden.

Trump's plans lead to bigger deficits than Kamala's. Much bigger.

You're actually in the thread about it.

Kamala is finally going to get the rich to pay their fair share.

DURR

 

[SmokeALib]

Cool, but were voting in 2024, not 2020, at the start of a Trump budget year you're counting against Biden.

Trump's plans lead to bigger deficits than Kamala's. Much bigger.

You're actually in the thread about it.

When the annual deficits are in the trillions, who really gives a shit? The politicians don't. None of them.

 

[SmokeALib]

Kamala is finally going to get the rich to pay their fair share.

DURR

Then they'll leave. DURR!!!

 

[Fort Fun Indiana]

Kamala is finally going to get the rich to pay their fair share.

DURR

*And have deficits 1/5 that of Trump

 

[Fort Fun Indiana]

When the annual deficits are in the trillions, who really gives a shit? The politicians don't. None of them.

Well sure, to a degree. But that's because the corporations and rich have an outsized voice in our government. Yes, with Democrats, too.

 

[Toddsterpatriot]

*And have deficits 1/5 that of Trump

Why didn't she get Biden to use her great ideas before he added $8 trillion to the debt?

 

[Fort Fun Indiana]

Why didn't she get Biden to use her great ideas before he added $8 trillion to the debt?

I don't care about that right now. you do. Do your own book report.

 

[otto105]

Yeah, let's jack up the corporate tax rate. Those big bad corporations. All they do is what - employ taxpayers? Fuking idiots.

Sure, just employ people? They don’t make things use resources and pollute the environment too.

 

[SmokeALib]

Sure, just employ people? They don’t make things use resources and pollute the environment too.

Corporations produce taxpayers. You need those taxpayers. Without taxpayers, your government goes bye bye. No more utopia for you.
We should thank these corporations by taxing them - wait for it - ZERO.

 

[otto105]

Corporations produce taxpayers. You need those taxpayers. Without taxpayers, your government goes bye bye. No more utopia for you.
We should thank these corporations by taxing them - wait for it - ZERO.

Yeah, you pay all the taxes then fuckup.

 

[Toddsterpatriot]

Yeah, you pay all the taxes then fuckup.

When they give money to shareholders, tax it.
When they give money to employees, tax it.
When they give money to the officers, tax it.