Trump putting the re-election scheme on the country's credit card.

Kudlow says ‘tax cuts 2.0’ will be unveiled later this year during Trump presidential campaign
https://www.cnbc.com/2020/01/15/kud...-year-during-trump-presidential-campaign.html

National Economic Council Director Larry Kudlow, a top economic adviser to President Trump, said Wednesday that the White House plans to unveil a plan for additional tax cuts later in 2020.

“I am still running a process of Tax Cuts 2.0. We’re many months away – it’ll come out something later during the campaign,” Kudlow told CNBC. “Tax Cuts 2.0 to help middle-class economic growth: That’s still our goal.”
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Even though the lies justifying the first tax cut are out in the open for all to see the Conman-in-Chief figures why not double down? Why not buy off voters with another piece of candy that will accelerate the growth of the deficit tomorrow for a sugar high today? The future is not Trump's concern. If it was, he would not be doing irreversible harm to the environment in order to maximize economic growth.
His duplicity is transparent.............but The Following does not care because.......Dear Leader.
What happened to the fiscal discipline Repubs whined about when Obama was prez?

 

like Trump's last middle class tax cuts which we all know were really corporate tax cuts, with a temporary middle class tax cut added on as a carrot

let's have a real middle class tax cut, a bipartisan one, with NO addl tax cuts for the rich - how about a $5000 tax cut for everyone, rich or poor

to pay for it, end the tax loopholes for the rich

democrats in the house would be smart to make up a middle class tax cut bill and force republicans to deny it

 

You means as opposed to all the candy the democratic candidates are promising?

 

At first glance this seems to largely be a publicity stunt to boost the campaign because the House will not pass another reckless tax cut unless it is tax revenue neutral. Another effort to make Don look like the guy who wants to give out free stuff to the middle class.

 

You mean as opposed to the democratic candidates who want to give out free stuff to the middle class.

 

Perfect

Take some serious brass for a leftist to call out something like tax cuts to the WORKING American.. Now if it had been welfare, dependency and controlled poverty, they would raise a statue to the guy

 

I hope the dems in the house pass such a bill that only benefits the working class and ends tax loopholes for the rich, then it gets sent to Trumps desk before the election, he would be forced to sign it or show what a fraud he is

 

Everyone should get what they want from a tax standpoint in the booming Trump economy. That means we would have to tax by party instead of income. Democrats should be taxed enough to cover our expenses since they like taxes. Republicans should be able to donate if they choose since they prefer optional contributions.

 

What else would he run on? Tax cuts are the only thing that ALL Republicans usually agree on. Plus, since they are put on the national credit card, they are easy to do, no hard decisions to make. Those hard decisions are left for the successor. Has worked over and over and over again for the GOP to stay in power. Has it worked for the country? Not so much.

 

Now that's funny. You going to reduce how much they pay into SS? Under the current tax code when the average working stiff files his taxes, provided he does his with holding correctly he gets back most of what he paid in.

 

Quite well in fact far better than the Dems taxing and spending. The only time that worked at all was right after WWII, when virtually every other country in the world had been bombed flat and the Brits decided to go full socialist.

 

Find an economist who ties the economy to "tax cuts". I'll wait.

How is cutting taxes and spending like a drunken sailor a good thing?

 

Laffer.

 

Really? How are tax cuts for the wealthy "paying for itself"?

This ought to be amusing.

 

You asked about the economy. And tax cuts increase economic activity and economic growth.

 

No, they don't.

The experiment with Laffer's "voodoo economics" was an abysmal failure.

https://qz.com/895785/laffer-curve-...about-trickle-down-economics-and-reaganomics/

It may be a matter of dogma with the trumpers, but in reality, it doesn't work.

https://www.investopedia.com/articles/07/tax_cuts.asp

It's a common belief that reducing marginal tax rates would spur economic growth. The idea is that lower tax rates will give people more after-tax income that could be used to buy more goods and services. This is a demand-side argument to support a tax reduction as an expansionary fiscal stimulus. Further, reduced tax rates could boost saving and investment, which would increase the productive capacity of the economy.

However, studies have shown that this isn't necessarily true. Data collected over 25 years by the Bureau of Labor Statistics shows that high income earners spend much less for every tax dollar saved than low income earners. Further, a 65-year study by the Congressional Research Service showed that economic growth was not correlated with changes in the top marginal tax and capital gains rate.

 

You mean taxing less and spending more is better than the Dems taxing the same and MAYBE spending more? I thought Trump fans claimed to be generally fiscally responsible, at least when Obama was in office? What happened?

 

They lied. That's what happened.

 

Horse ****. Federal income grew from a little over 500 billion to over a trillion in eight years under Reagan's tax cuts. GDP grew by 80%

 

How about citing to someone who knows what they're talking about?

You make no effort to correlate tax cuts to anything. If it was as easy as cutting taxes, we'd be doing it all the time, as would every other nation on the planet.

 

Public debt almost tripled under Reagan. Consumer debt was almost non-existent before, but started exploding under Reagan:



It's easy to spot the times of tax cuts in this graph, give it a try. As usual, the GOP tax cutting scheme leads to debt explosion, both private and public.

 

Democrats want taxpayers to pay for 100% free medical for illegals and the 5 to 10 kids they usually have per couple...how can you even justify whining about trumps tax cuts. Kiss your income goodbye if trump loses, you'll be taking home 10% of your paycheck if you're lucky

 

How about doing the math. Every time tax rates were lowered the economy has had a growth spurt. Kennedy was the first one.

 

Wow, what an inspiring achievement (wink).

China trade truce is seen as ‘fragile’ with analysts still seeing more tariffs as a possibility
https://www.cnbc.com/2020/01/15/chi...ill-seeing-more-tariffs-as-a-possibility.html

 

Wouldn't creating another government health care program also be "putting reelection on the country's credit card"?

Or an infrastructure program,?