Trump's tax plan does not require any cuts in spending just reductions in taxes. Anyone that thinks the House is going to pass a huge tax cut with no cuts in spending has his head up Trump's ass. Paul Ryan would not let this plan see the light of day in the House.
Tax Reform
He has proposed big cuts in spending.
Trump's tax plan does not require any cuts in spending just reductions in taxes. Anyone that thinks the House is going to pass a huge tax cut with no cuts in spending has his head up Trump's ass. Paul Ryan would not let this plan see the light of day in the House.
Tax Reform
He has proposed big cuts in spending.
I have to admit, I have not read the entire Trump proposal thoroughly. But I did look it over, and I did read several analyses of the plan. All suggest little to no changes in spending. But as it stands, it is likely to increase the national debt greatly. By something over $9.5 Billion in the first 10 years, and more ongoing.
That is theory. If we look at history, we can look at 1981 when the tax rate was drastically reduced. And you could see, if you did, MAJOR spending cuts. Now, of course, as any rational person would understand, there were corresponding cuts in federal programs, with resulting MAJOR increases in the unemployment rate. From around 7.1% to over 10.8% within a two year period.
In addition, you would see that the then Pres, R. Reagan, saw the national debt raise. Very nearly TRIPLED THE NATIONAL DEBT. Increased the debt by more than all the previous presidents combined. COMBINED. And 'achieved" the statistic of having the 2nd highest unemployment rate of 10.8% in US history, with only the unemployment rate of 1931 being higher!!
So, you have three choices: Raise taxes (as Reagan did 11 times) or stop spending decreases, and allow the national debt to soar. And/or spend like crazy, and not worry at all about the national debt.
The Trump proposal is, according to the analysis so far, a really stupid idea. Simple plan for simple minds. But we should all wait to see what the CBO has to say. Not that they will be able to be perfectly accurate, but they will be honest and closer than most.
So, you have three choices: Raise taxes (as Reagan did 11 times)
That was awful! Raising the top rate from 70% all the way to 28%.
Just awful!
Trump's tax plan does not require any cuts in spending just reductions in taxes. Anyone that thinks the House is going to pass a huge tax cut with no cuts in spending has his head up Trump's ass. Paul Ryan would not let this plan see the light of day in the House.
Tax Reform
He has proposed big cuts in spending.
Trump's tax plan does not require any cuts in spending just reductions in taxes. Anyone that thinks the House is going to pass a huge tax cut with no cuts in spending has his head up Trump's ass. Paul Ryan would not let this plan see the light of day in the House.
Tax Reform
He has proposed big cuts in spending.
I have to admit, I have not read the entire Trump proposal thoroughly. But I did look it over, and I did read several analyses of the plan. All suggest little to no changes in spending. But as it stands, it is likely to increase the national debt greatly. By something over $9.5 Billion in the first 10 years, and more ongoing.
That is theory. If we look at history, we can look at 1981 when the tax rate was drastically reduced. And you could see, if you did, MAJOR spending cuts. Now, of course, as any rational person would understand, there were corresponding cuts in federal programs, with resulting MAJOR increases in the unemployment rate. From around 7.1% to over 10.8% within a two year period.
In addition, you would see that the then Pres, R. Reagan, saw the national debt raise. Very nearly TRIPLED THE NATIONAL DEBT. Increased the debt by more than all the previous presidents combined. COMBINED. And 'achieved" the statistic of having the 2nd highest unemployment rate of 10.8% in US history, with only the unemployment rate of 1931 being higher!!
So, you have three choices: Raise taxes (as Reagan did 11 times) or stop spending decreases, and allow the national debt to soar. And/or spend like crazy, and not worry at all about the national debt.
The Trump proposal is, according to the analysis so far, a really stupid idea. Simple plan for simple minds. But we should all wait to see what the CBO has to say. Not that they will be able to be perfectly accurate, but they will be honest and closer than most.
So, you have three choices: Raise taxes (as Reagan did 11 times)
That was awful! Raising the top rate from 70% all the way to 28%.
Just awful!
Todd, does your ignorance hurt???
RR did indeed lower taxes a bunch in 1981. Then me boy, the unemployment rate soared up to 10.8% by Nov of 1982. Second highest since the great depression. Never topped since.
So, me boy, what did his economic team do next?? Why, me boy, HE RAISED TAXES 10 OR 11 TIMES. AND HE SPENT LIKE NO OTHER PRESIDENT EVER. You see, me boy, he very nearly tripled the national debt. More spending than all previous presidents COMBINED.
So, me boy, saying that RR simply cut taxes is a lie. As a con, you are attempting to re-write your hero's history. And wasting people's time.
Now, the truth will set you free. And the truth is that when faced with a huge economic problem of his own making, and preaching Supply Side Economics, we would think he would cut taxes and stop spending. Instead, he Increased taxes, and spent like crazy. Just like he should have in a major downturn.
One big tax cut, economic disaster, tax increases, massive spending, and the economy soared.
So, me boy, RR learned, his economic team learned. Bad economies require stimulus.
So, the Trump plan is much like Reagan's. And it would have like results. But then, maybe you like huge recessions???
