Feb Budget Deficit Largest on Record

Your history ? That’s like accepting Trumps ideas on how to avoid bankruptcy. You casually forget that first, the president has to sign the budget and occasionally doesn’t until it meats his needs. Secondly , the President is the CEO and chooses what priorities he puts on enforcement of regulation in the financial sector. Bush, like Reagan and like Trump notoriously let the banks and other financial institutions run wild making bad investments. It’s a joke. Look at Dufus Trump. As big a fool as this guy is, the Republicans let him get away with murder helping his cronies. The top companies will pay no taxes.


Presidents drive the economy just being imbeciles or paid lackies. The entire govt. portion of the nation is paid and managed by the ADMINISTRATION,

 

How many references tables to you need to see to debunk these outright lies.

 

You should fold like a picnic table when ever anyone asks for a reference. You have none to rebuke that the Bush administration presided over the second biggest recession in history .
These are games because you make s.h.i.t up. Bush and his Republican Congress we’re responsible for BUSH recession. . Tax cuts were the prime movers in his deficits an enacted by the Republican Congress and signed by Bush . They were also responsible for the deregulation. Get a life. TRUMP. And the Gop did the same thing with the same results.....as did Reagan. Expect the same results...another recession.

 

What are you denying and be specific

The Republicans handed them a paltry $161B deficit and falling and you have nothing to back up your claim the Republicans CAUSED the 2008 recession or that the HUGE spending increases did what they claimed they would do, it was a total bust leading to the worst recovery in modern history and the worse unemployment in modern history.

 

The tax rate cuts produced record revenue growth and especially double the capgains than under the Clinton 29% rate. How exactly were they the prime movers of the deficits then? Do explain how tax rate cuts cause recessions.

 

The budget was doomed by the Bush and Republican tax cuts....see the table. The present day debt is still in large part do to these cuts. The ones by trump and the repugnant Congress is doing the same thing to his NOW trillion dollar deficit, nearly double Obama when he left office. Do you now doubt reougs and trump just created another HUGE DEFICIT

 

The bush and trump tax cuts where 80% went to the top 1%, dont help the middle class. The resulting respcessiins of EVERY PRESIDENT THAT DID THIS, PROVES IT.
Trickle down doesn’t work. They teach Keynesian in economics class. Only targeted tax cuts Work. That was Lie about Clinton. He raised taxes on the wealthy to 39.6 % top rate when he had congressional majority and staved off tax tax cuts with veto threats and a shut down when he did not.

 

And the Repub Hypocrites say "What deficit?"

 

Well, if we are using the far right's idea of what "exonerated" means, then the whole Obama tribe walks free and easy.

 

Agree, however who won the revenue growth race?

Lane 1. Payroll taxes
Lane 2. withholding income taxes
Lane 3. Individual Income Taxes MINUS Capital gains
Lane 4. Corporate taxes
Lane 5. Capital gain revenues

On your mark, get set, Go!

(in billions)

Payroll; FY2003 ($715), FY2004 ($735), FY2005 ($797), FY2006 ($840)

Withheld; FY2003 ($735), FY2004 ($753), FY2005 ($786), FY2006 (848 FY2007(928

Individual Income; FY2003 ($201), FY2004 ($170), FY2005 ($219), FY2006 ($269), FY2007 ($301)…..Back then, what were Uncle Sam's top 2 tax rates?

Corporate; FY2003 ($194), FY2004 ($231), FY2005 ($307), FY2006 ($381), FY2007 ($395)…...Back then, what was Uncle Sam's corporate tax rate?

Capital Gain revenues (mostly from lowering long term rate) ; FY2003 ($51), FY2004 ($73), FY2005 ($102), FY2006 ($117), FY2007 ($137)

Last question; Who's winning today?

In lane 5; didn't show up
In lane 4; still tying its shoes behind the start line
In lane 3; a big question mark

Sadly, looks like payroll might win.

 

Examples how admins have power over the economy to mess it up...Bush was a master at it...as is Trump now.
https://www.allbusiness.com/sba-cooked-books-on-katrina-loans-to-help-bush-save-face-4354024-1.html

Another example of how admistration economic practices can cause chaos. Not only did Bush small business loans NOT require collateral but they cooked the books during relief efforts making the feds a practical give away for small businesses but denying money for Katrina victims. Denying relief aid is a huge economic recovery killer.

They even pulled this crappola in Iraq giving away tons of tax payer money to use as bribe money. 20 billion unaccounted for.

https://themoderatevoice.com/rememb...own-into-iraq-by-the-bush-administration/amp/

These were the types of practices that contributed to the economic collapse. Deregulation and giveaways to the wrong people....during the years when the Bush controlled congress using supplement budgets passed by Congress that never show on the deficits till later. . The Bush admistration hid his deficits.

https://www.nytimes.com/2009/02/20/...&gwh=DFEB64400912562746656D92B416DB79&gwt=pay

OBama banned these gimmicks which made his own admistration look worse then it was by accepting deficits that Bush was hiding. It was a big story back then that incompetent republicans choose to forget.

 

More wack-a-mole

I asked

The tax rate cuts produced record revenue growth and especially double the capgains than under the Clinton 29% rate. How exactly were they the prime movers of the deficits then? Do explain how tax rate cuts cause recessions.
Now focus like a laser and address what I actually ask.

 

It wasn't a race between competitors but the winner was the US Treasury and the US budget.

 

Funny, only during tax cuts for the middle class and well above 35% for the top end, did we EVER shrink the deficit.
You may not accept that the trillion dollar deficits were gifted to Obama by Bush, but only after the Bush tax cuts expired, did the deficits under Obama shrink. So, let’s get off this trickle down s.h.i.t actually works. It NEVER HAS.

 

https://americansfortaxfairness.org/wp-content/uploads/ITEP-Top-1-Tax-cuts.pdf

You may dry hump your savings account because of Trumps promised $4000 tax cut which NEVER materialized for most middle class, but for the top 1% it ranged from $80k to $250k per year...quite a haul. Akso, because the loop holes were never closed as promised, many of our largest corporations now pay zero taxes. And you wonder why repugnants stink at deficit reduction.

More BS. We’re borrowing as we speak with a near Trillion dollar proposed defense budget under Trump while is trying to steal money ( 6 billion) from defense to build his useless wall.

 

More BS once again your wack-a-mole has nothing to do with what I said.

 

The deficits were created by Obama and his fellow Democrats as I have shown you repeatedly and you have failed to refute. The deficits came down after Republican sequester and austerity programs.

 

You repugs are real cards. You expect everyone else to answer these insane questions and be specific while you never do.

 

Trite little platitudes is the response if a fabricator. Your questions are delusional and based on made up crappola. Use a reference to back up your assertions and maybe the world will take it seriously.

 

Dagosa sweeps all of the weak arguments away, so easily, so effortlessly.

 

That’s embarrassing.. But thanks.

 

When you are willing to actually discuss what I post let me know. You have refuted nothing nor shown anything to not be factual.

This is still waiting

The tax rate cuts produced record revenue growth and especially double the capgains than under the Clinton 29% rate. How exactly were they the prime movers of the deficits then? Do explain how tax rate cuts cause recessions.

 

However, Bush's double digit growth rates were primarily boosted by his corporate revenues, and today, corporate revenues are lagging....that's my point.

Thus, yesterday's revenue winners are losing today.

In lane 5; Capital gain revenues...…..didn't show up
In lane 4; Corporate revenues...….. still tying its shoes behind the start line
In lane 3; individual income taxes.....a big question mark
In lane 2; tax withheld......stumbled

WTF?

 

And investment activity as in capital gains realizations and personal income taxes. Tax withheld has nothing to do with it as far as annual revenue.

And as far as where the additional tax revenues came from after the tax rate cuts being primarily boosted by corporate taxes

This will probably not format correctly
Year - Personal - Change - Corporate - Change

2004 $808,959 $189,371
2005 $927,222 $118,263 $278,282 $88,911
2006 $1,043,908 $116,686 $353,915 $75,633
2007 $1,163,472 $119,564 $370,243 $16,328
$354,513 $180,872


Personal revenue increased double what corporate did.