Why don’t republicans seem to understand the consequences of tax cuts?

[Billy000]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this means that there is less revenue to pay for spending. If bewilders me how republicans think you can cut taxes and think it doesn’t have consequences. We know it has consequences because the deficit blew up under Trump.

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years

Oh and news flash: trickle down economics is not a real thing. Why would corporations bother investing in labor when it is easier for them to just keep the huge amount of money they save from tax cuts? After all their profits are already at an all time high.

United States Corporate Profits

Corporate Profits in the United States increased to 2803.20 USD Billion in the fourth quarter of 2023 from 2697.93 USD Billion in the third quarter of 2023. This page provides the latest reported value for - United States Corporate Profits - plus previous releases, historical high and low...

tradingeconomics.com

 

[Dont Taz Me Bro]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this is means that there is less revenue to pay for spending.

so how is there more revenue now than there was before?

 

[Billiejeens]

Tax rate reductions historically lead to more revenue being collected by the treasury.

Fact.
The end.
Close the thread, no further replies needed.

 

[Chuz Life]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this is means that there is less revenue to pay for spending. If bewilders me how republicans think you can cut taxes and think it doesn’t have consequences. We know it has consequences because the deficit blew up under Trump.

Oh and news flash: trickle down economics is not a real thing. Why would corporations bother investing in labor when it is easier for them to just keep the huge amount of money they save? After all their profits are already at an all time high.

Let's begin the discussion with your thoughts on this;

Tax Freedom Day - Wikipedia

en.wikipedia.org

"Tax Freedom Day is a concept developed and trademarked by American businessman Dallas Hostetler, which aims to calculate the first day of the year on which a nation as a whole has theoretically earned enough income to pay its taxes. Every dollar that is officially considered income by the government is counted, and every payment to the government that is officially considered a tax is counted. Taxes at all levels of government – local, state and federal – are included."


Tax Freedom Days in the U.S. since 1900:[3][4] hide

Year	Tax Freedom Day	Tax Burden
1900	January 22	5.9%
1910	January 19	5.0%
1920	February 13	12.0%
1930	February 12	11.7%
1940	March 7	17.9%
1950	March 31	24.6%
1960	April 11	27.7%
1970	April 19	29.6%
1980	April 21	30.4%
1990	April 21	30.4%
2000	May 1	33.0%
2010	April 9	26.9%
2011	April 12	27.7%
2012	April 13	29.2%
2013	April 18	29.4%
2014	April 21	30.2%
2015	April 24	31.2%
2016	April 22	30.9%
2017	April 23	30.9%
2018	April 19	29.7%
2019	April 16	29.0%

 

[Billy000]

so how is there more revenue now than there was before?

Well because of inflation and the value of the dollar, the only accurate way to measure revenue is computing it as a percentage of GDP. In 2019 it was 16%. Now it’s like 20%.

 

[Dont Taz Me Bro]

Well because of inflation and the value of the dollar, the only accurate way to measure revenue is computing it as a percentage of GDP. In 2019 it was 16%. Now it’s like 20%.

I’m afraid not, but valiant effort

 

[Billy000]

Tax rate reductions historically lead to more revenue being collected by the treasury.

Fact.
The end.
Close the thread, no further relies needed.

Lol raw dollars are always going to increase year after year regardless of any tax cuts. This is because of inflation. Over time more dollars are needed for the same value. You pretending this inevitable rise is related to tax cuts is completely fallacious. Under Trump, revenue as a percentage of GDP was at 16% in 2019. Now it is 20%.

 

[Billy000]

I’m afraid not, but valiant effort

I guess if you think the deficit doesn’t matter then have fun with that lol

 

[Toddsterpatriot]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this is means that there is less revenue to pay for spending. If bewilders me how republicans think you can cut taxes and think it doesn’t have consequences. We know it has consequences because the deficit blew up under Trump.

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years

Oh and news flash: trickle down economics is not a real thing. Why would corporations bother investing in labor when it is easier for them to just keep the huge amount of money they save? After all their profits are already at an all time high.

United States Corporate Profits

Corporate Profits in the United States increased to 2803.20 USD Billion in the fourth quarter of 2023 from 2697.93 USD Billion in the third quarter of 2023. This page provides the latest reported value for - United States Corporate Profits - plus previous releases, historical high and low...

tradingeconomics.com

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this is means that there is less revenue to pay for spending.

Sounds like an excellent reason to cut spending. A lot.

Oh and news flash: trickle down economics is not a real thing.

Exactly. But supply-side economics is a real thing. Works every time.

 

[Devils_Advocate]

And yet your side doesn't want to cut spending, so tell me if you raise taxes and keep on spending how do you get spending under control?

 

[Billy000]

Let's begin the discussion with your thoughts on this;

Tax Freedom Day - Wikipedia

en.wikipedia.org

"Tax Freedom Day is a concept developed and trademarked by American businessman Dallas Hostetler, which aims to calculate the first day of the year on which a nation as a whole has theoretically earned enough income to pay its taxes. Every dollar that is officially considered income by the government is counted, and every payment to the government that is officially considered a tax is counted. Taxes at all levels of government – local, state and federal – are included."


Tax Freedom Days in the U.S. since 1900:[3][4] hide

Year	Tax Freedom Day	Tax Burden
1900	January 22	5.9%
1910	January 19	5.0%
1920	February 13	12.0%
1930	February 12	11.7%
1940	March 7	17.9%
1950	March 31	24.6%
1960	April 11	27.7%
1970	April 19	29.6%
1980	April 21	30.4%
1990	April 21	30.4%
2000	May 1	33.0%
2010	April 9	26.9%
2011	April 12	27.7%
2012	April 13	29.2%
2013	April 18	29.4%
2014	April 21	30.2%
2015	April 24	31.2%
2016	April 22	30.9%
2017	April 23	30.9%
2018	April 19	29.7%
2019	April 16	29.0%

I don’t even know what to make of this. What exactly does this data mean to you exactly? Obviously we didn’t have the military or the population we had in 1900. Inevitably this will require more revenue.

 

[Billiejeens]

Lol raw dollars are always going to increase year after year regardless of any tax cuts. This is because of inflation. Over time more dollars are needed for the same value. You pretending this inevitable rise is related to tax cuts is completely fallacious. Under Trump, revenue as a percentage of GDP was at 16% in 2019. Now it is 20%.

Every post
Every issue
You are wrong.

 

[Billy000]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this is means that there is less revenue to pay for spending.

Sounds like an excellent reason to cut spending. A lot.

Oh and news flash: trickle down economics is not a real thing.

Exactly. But supply-side economics is a real thing. Works every time.

Except it doesn’t you moron.

 

[Billiejeens]

And yet your side doesn't want to cut spending, so tell me if you raise taxes and keep on spending how do you get spending under control?

You don't
You spend wrecklessly and blame others.

 

[Billy000]

Every post
Every issue
You are wrong.

Nah you just can’t explain how I am wrong.

 

[jackflash]

Let's begin the discussion with your thoughts on this;

Tax Freedom Day - Wikipedia

en.wikipedia.org

"Tax Freedom Day is a concept developed and trademarked by American businessman Dallas Hostetler, which aims to calculate the first day of the year on which a nation as a whole has theoretically earned enough income to pay its taxes. Every dollar that is officially considered income by the government is counted, and every payment to the government that is officially considered a tax is counted. Taxes at all levels of government – local, state and federal – are included."


Tax Freedom Days in the U.S. since 1900:[3][4] hide

Year	Tax Freedom Day	Tax Burden
1900	January 22	5.9%
1910	January 19	5.0%
1920	February 13	12.0%
1930	February 12	11.7%
1940	March 7	17.9%
1950	March 31	24.6%
1960	April 11	27.7%
1970	April 19	29.6%
1980	April 21	30.4%
1990	April 21	30.4%
2000	May 1	33.0%
2010	April 9	26.9%
2011	April 12	27.7%
2012	April 13	29.2%
2013	April 18	29.4%
2014	April 21	30.2%
2015	April 24	31.2%
2016	April 22	30.9%
2017	April 23	30.9%
2018	April 19	29.7%
2019	April 16	29.0%

I REALLY like that avatar of yours!!!

 

[Billiejeens]

Let's begin the discussion with your thoughts on this;

Tax Freedom Day - Wikipedia

en.wikipedia.org

"Tax Freedom Day is a concept developed and trademarked by American businessman Dallas Hostetler, which aims to calculate the first day of the year on which a nation as a whole has theoretically earned enough income to pay its taxes. Every dollar that is officially considered income by the government is counted, and every payment to the government that is officially considered a tax is counted. Taxes at all levels of government – local, state and federal – are included."


Tax Freedom Days in the U.S. since 1900:[3][4] hide

Year	Tax Freedom Day	Tax Burden
1900	January 22	5.9%
1910	January 19	5.0%
1920	February 13	12.0%
1930	February 12	11.7%
1940	March 7	17.9%
1950	March 31	24.6%
1960	April 11	27.7%
1970	April 19	29.6%
1980	April 21	30.4%
1990	April 21	30.4%
2000	May 1	33.0%
2010	April 9	26.9%
2011	April 12	27.7%
2012	April 13	29.2%
2013	April 18	29.4%
2014	April 21	30.2%
2015	April 24	31.2%
2016	April 22	30.9%
2017	April 23	30.9%
2018	April 19	29.7%
2019	April 16	29.0%

He think's that there should be no tax freedom day.
He is a Socialist.

 

[Devils_Advocate]

Nah you just can’t explain how I am wrong.

I certainly can!

See you complain about Tax Cuts because you know it will force Democrats to raise taxes while not wanting to cut spending.

Sooner or later you will have to cut the bloated spending the government does .

 

[Billiejeens]

Nah you just can’t explain how I am wrong.

Ok
That's funny.

 

[2aguy]

It’s a pretty basic concept. If spending is not adequately cut and taxes are cut (something republicans do), this is means that there is less revenue to pay for spending. If bewilders me how republicans think you can cut taxes and think it doesn’t have consequences. We know it has consequences because the deficit blew up under Trump.

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years

Oh and news flash: trickle down economics is not a real thing. Why would corporations bother investing in labor when it is easier for them to just keep the huge amount of money they save? After all their profits are already at an all time high.

United States Corporate Profits

Corporate Profits in the United States increased to 2803.20 USD Billion in the fourth quarter of 2023 from 2697.93 USD Billion in the third quarter of 2023. This page provides the latest reported value for - United States Corporate Profits - plus previous releases, historical high and low...

tradingeconomics.com

Cutting taxes increaes revenue to the government......not taking money from the people who know how to create it means they can use that money to grow their businesses higher more people and create more tax revenue...