If Trump thinks he can get more than 3% economic growth, he's dreaming

Discussion in 'Current Events' started by Josephwalker, Jul 27, 2018.

  1. Bluesguy

    Bluesguy Well-Known Member Donor

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    Lack of response noted.
     
  2. Iriemon

    Iriemon Well-Known Member Past Donor

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    LOL, what "dirty little secret" did you expose?

    Sorry, but your ignorance and confusion between deficits and the debt is not me "trying to blur" any line.
     
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  3. Bluesguy

    Bluesguy Well-Known Member Donor

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    Yep, just two years after he and his fellow Democrats inherited a $161B deficit from the Republicans.

    Not even coming close to the WORST Republican deficit. And reduced by the Republican sequestration and austerity which you complain about.
     
  4. Josephwalker

    Josephwalker Banned

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    As I said earlier it's going up for now. Trump is thinking long term though and expecting deficits and debt to decrease as the economy takes off and tax revenue increases just as it did for JFK and Reagan. He also wants to get spending under control from social programs and illegal immigration. This is polar opposite of what Obama did with his increased taxes that quashed economic growth and his open borders catch and release policy with immigrants and increased social spending. You can already see the economic reasoning of Trump bearing fruit.
     
    Last edited: Aug 1, 2018
  5. Josephwalker

    Josephwalker Banned

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    Well I see as usually happens with liberals you want to get into little pissing matches and discuss each other instead of the topic. Have a nice day.
     
  6. Bluesguy

    Bluesguy Well-Known Member Donor

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    How we're having record tax revenues. I asked what SPENDING CUTS, it's SPENDING that is out of control.
     
  7. Bluesguy

    Bluesguy Well-Known Member Donor

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    First what are you claiming is "trickle down"? Second what didn't work with the Bush tax rate cuts? Their only mistake was originally phasing them in over 6 years. They corrected that in 2003. Once fully implemented tax revenues took off like a rocket hitting a 15% increase in 2007 and helping produce that last measly Republican deficit of just $161B. We collected more than DOUBLE the capital gains tax revenue at the Bush 15% rate than the Clinton 29% rate. So what exactly didn't work?

    If a lower tax rate produces more revenue than a higher tax rate isn't it the higher tax rate that has to "pay for itself"?
     
  8. Bluesguy

    Bluesguy Well-Known Member Donor

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    And you opposed the Republican sequestration and austerity that brought it down.
     
  9. Iriemon

    Iriemon Well-Known Member Past Donor

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    Well I see as usually happens with conservatives you make baseless, bullshit claims you cannot back up, and then resort to ad homs when called out on them.

    SSDD.
     
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  10. Iriemon

    Iriemon Well-Known Member Past Donor

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    There are three main reasons for that: the slowly-improving economy is putting more people back to work, which means fewer safety net payments and more tax revenue; defense spending cuts; and the tax hikes from January 1 2013 have gone into effect.

    Indeed, it's not the spending side of the ledger that has shrank the budget deficit, but the tax side.


    http://townhall.com/tipsheet/keving...icit-shrinks-due-to-more-tax-revenue-n1590424

    And you opposed the tax increases that brought it down and would have brought it down.
     
    Last edited: Aug 1, 2018
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  11. Iriemon

    Iriemon Well-Known Member Past Donor

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    You mean other than the stock market crash where cap gains revenues dropped much lower than they had been at the same realizations?
     
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  12. Iriemon

    Iriemon Well-Known Member Past Donor

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    Tax revenues relative to GDP are hundreds of billions of dollars a year lower than in 2000.
     
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  13. Iriemon

    Iriemon Well-Known Member Past Donor

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    Spending relative to GDP last year was lower than it was in 10 of the 12 Reagan and Bush years.

    But we can see already donald is getting it back up there.
     
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  14. Iriemon

    Iriemon Well-Known Member Past Donor

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    Completely false. You're just making **** up again.
     
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  15. Bluesguy

    Bluesguy Well-Known Member Donor

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    So what? Government has no set claim to a certain amount of GDP and with higher taxes and lower GDP...............the goal is to grow GDP faster than government so that what percent does go to government gets lower and lower and tax rates can go lower.
     
  16. Bluesguy

    Bluesguy Well-Known Member Donor

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    No I mean when realizations, economic activity, SOARS almost 4 times as much with the lower rates producing twice the revenues of the lower rates and lower realizations. You know a thriving growing active economy producing those higher realization. Why do you want lower realizations and lower tax revenues the higher rates produce? What is your real goal just to take more money from people you envy?
     
  17. k995

    k995 Well-Known Member

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    Lets see:
    https://www.usgovernmentrevenue.com/total_revenue
    Up 70 billion for federal in 2 years, thats not even keeping with GDP growth nothing close to paying for the trickle down II .

    Certain spending is out of control, and of course certain favors to rich friends of trump.

    Again you cant ignore reality thats its not spending that is inflating the deficit with hundreds of billions thats the trump and gop policy of the last 1.5 years thats doing that.

    But of course its predictable that taxes are cut for the rich and then the poor/middle class end up paying for that, just like under bush.
     
  18. k995

    k995 Well-Known Member

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    And just like it didnt for bush who did almost the same as trump is doing now.

    When do you think we are going to get those 5-6-7% GDP growth (and revenue increase of 150-200billion) needed to pay for these tax cuts and bring the deficit down to obama era levels?

    Not really and that trump/gop want to cut anything they dont like because there voters dont think its needed isnt a suprise. Whatever isnt going into their pockets is wasted according to them.

    Social programs need to be reformed thats sure, but most could do with spending increase not decrease.
     
  19. Bluesguy

    Bluesguy Well-Known Member Donor

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    OH so sequestration did not happen, austerity did not happen. Then why have you claimed how bad they were and the reason we didn't not have a more robust recovery? And that was FIVE years later and sill 50% higher than the WORST Republican deficit. Geez will you ever stop with your specious defenses of the worst fiscal and economic policies of modern times after the Democrats took the Congress January 2007. You REALLY want to go back to those policies?
     
  20. US Conservative

    US Conservative Well-Known Member Past Donor

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    Another thing Obama got wrong.
    [​IMG]
     
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  21. Iriemon

    Iriemon Well-Known Member Past Donor

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    Where did I say Republican austerity did not happen? Stop making stuff up.
     
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  22. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    [​IMG]

    2009 to 2016 less than 2% mean GDP growth.

    [​IMG]

    The difference between Obama and Trump is painfully obvious.
     
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  23. Iriemon

    Iriemon Well-Known Member Past Donor

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    So the 97 cap gains cuts caused the stock markets to soar into a bubble, but didn't cause the subsequent crash. Got it.

    Because a conservative is a lot easier when you make up rules as you go along.
     
  24. Iriemon

    Iriemon Well-Known Member Past Donor

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    Indeed. Obama inherited the worst recession in 80 years you're baselessly blaming him for.

    donal inherited a solid economy and is running up the deficit.
     
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  25. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

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    He had 8 years to fix what Trump fixed in less than 2.
     
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