The numbers are in, and Trump's tax cut didn't reduce the deficit – despite his many promises

No, reality is almost everyone pays taxes.

Even if you just look at income taxes (what you are probaly refer to) the 1% (that at the end is going to get 80+% of the tax cuts) they have 20% of income and pay 39% of income taxes.

So no its quite easy to write tax cuts that would almost only affect that bottom 50%,in fact this tax cut alone would get rid of most of the taxes those people pay. Instead trump/GOP wrote it so trump himzelf an his rich friends and donors mainly benefited .

I have no idea what you are talking about, care to give some quotes about that?

I remember democrats saying this is a wealth transfer from the lowest incomes to the highest, and thats simply reality as every stat and fact has shown since that law was passed.

And thats before trump/GOP starts cutting because they are creating a massive deficit .

 

What a bunch of crap. Trump said reducing taxes would increase tax revenue and it did. The defecit is another issue entirely and is about government spending.

"CNSNews.com) - The federal government collected a record $1,415,150,000,000 in individual income taxes through the first ten months of fiscal 2018 (October 2017 through July 2001 according to the Monthly Treasury Statement."

https://www.cnsnews.com/news/articl...ndividual-income-taxes-through-july-still-run

 

I quote the facts as to the Republican 2007 deficit of a paltry $161B before the Democrats took back the Congress. Aren't you one of the ones that make the misleading claims that the 2008 and 2009 deficits were Bush deficits?

I think so.

Yes they do.

Came mighty close but then the Democrats took back the Congress and they never fame close to the WORST Republican deficits.

Yes a Republican surplus.

You left out the Gingrich/Kasich budgets. Why?

 

Spending and tax cuts are two separate issues. What's proven here is corporate tax cuts do indeed increase tax revenue

 

And the premise if that is what? The last time the Democrats had budget and fiscal policy control they took a measly Republican $161B deficit to $1,400B in just two years and kept it at $1,000B for the next three it only coming down beause of Republican sequester and austerity.

 

Not federal taxes which is the subject here.

 

The financial collapse was taken care of with TARP by Bush and it didn't cost us anything and in fact we made money off of it.
You want to get the budget back under control then make sure you vote for conservative Republicans in the mid-terms and not all these Democrats pledging free this and free that and policies that will shut down economic growth.

 

Uh...no. The economy recovered from a recession, but I don't know that "fixed" is proper.

I am perfectly fine with cutting spending. For example, the funding for our military is currently larger than the next 7 or 8 countries combined. We also spend billions propping up industries like coal and gas.

 

The topic is : "
The numbers are in, and Trump's tax cut didn't reduce the deficit – despite his many promises'
So nope

 

What would it take to be "fixed"?

And tax cut for the rich and corporations they used to buy back stock.

 

Speaking of "ifs"

Report: If Not for Republican Policies, the Federal Government Would Be Running a Surplus

 

Residential housing is only about 3% of GDP. It was an across the board expansion. Then the Democrats in their failure to pass measures to help mitigate the coming recession and failed policies to get us into a full recovery increased spending 10% and then 20% and bragged about.

 

"Under 3%?" So how much did the total tax revenue increase? Because corporate tax Revenue fell by 31% and spending, as a percent of the economy, fell.

If it weren't for Republican policies, the government would currently be running a budget surplus.

 

Yes cutting taxes has nothing to do with a growing deficit.

Trump promised he would get rid of the deficit AND the debt. So far he is only succeeding in enlarging both deficit and debt.

 

What a ridiculous claim. Prove it.

 

Again that's a different subject than tax cuts and whether the economic theory that cutting corporate taxes increases tax revenues works. It is doing exactly what Trump said it would just as it did for JFK and Reagan. It works every time it's tried.

 

Your response was nonsense as gibberish. The deficit is exploding under Trump, a prediction that I made years ago, when I predicted on this forum that the next GOP President, would do exactly the same thing as two of the last three. I also predicted that the right wing would instantly go silent about debt and deficits.

Both predictions are coming true.

 

Gladly.

https://www.budget.senate.gov/ranki...federal-government-would-be-running-a-surplus

 

Hopefully you mean a bonus and not just jacking up salaries.

 

Good lord man. The fact that they can "bank their profits" tax free is because they bought the legislation to allow them to do that. You keep glossing over the fact that to have that low of an ETR, they have to report the income in the first place. The fact that they can defer profits, and park monies, and/or write those dollars off is a direct result of having the ability to do so thru favorable tax laws.

Corporate donations to politicians are for one reason and one reason only, to benefit the financial position of that corporation. 90% of that benefit is derived by creating favorable tax legislation. You keep alluding to them somehow just taking advantage of the laws in place without admitting that they are the reason the laws are in place because they donated to political campaigns of politicians who will approve the legislation.

 

".... the Democratic staff on the Senate Budget Committee released a report showing that the federal government would be running a surplus today if not for four Republican policies."
​

A swing, and a miss... Strike One....

​

 

I take you bolded that portion because that is precisely the point at which you stopped reading. You wanted proof, I gave you proof.

But please, go listen to trump tell you that the tax cuts won't raise the deficit. I am sure that he is trustworthy.

 

Good lord man, do you understand the new tax laws?

https://money.cnn.com/2018/01/02/investing/us-tax-companies-overseas-cash/index.html

 

The topic was spending cuts.
Which cuts did they propose?

My position is that rebups spend like democrats.

 

No its not, trump and the GOP are responsible for everything. they are the ones in power and in control andits their measures that are driving up the deficit.

Thats not true, bush tried it also. Actually trump did the same as bush: trickle down. It really didnt work then.

Tax revenue has been going up every year under obama 2.1trillion to 3.27 trillion or 8% a year .

Keeping the same increase last year trump should have had 3.53 and this year 3.82 trillion.

Trump had 3.32trillion in 2017 and an estimated 3.42 for this year so he's far behind the main reason are the tax cuts and trump his increases in spending (like defense). They lowered revenue and didnt bring 6+% gdp growth you need to pay for them & increases expenses causing the defecit to balloon. Just like what happened under bush 43 .


https://www.usgovernmentrevenue.com/year_revenue_2018USrn_19rs1n#usgs302

https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762