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

The D's were not allowed to propose spending cuts ?

 

No. The topic of this thread is whether Trump's tax cuts reduce the deficit. You deflected from that topic in the very first post.

 

The topic is the deficit, and the fact that Trump said he wouldn't increase the deficit. And yet it is increasing.

 

"According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month.

For the current 2018 fiscal year, which started last October, revenues are $83 billion higher than they were the year before — an increase of 4.3%. That's a faster rate of growth than occurred during President Obama's last years in office. (See nearby chart.)

In other words, in a fiscal year that's seven months old (four of which were after the tax cuts went into effect), federal revenues are higher than ever.

Or, to put it another way, it looks like those of us who predicted the pro-growth tax cuts would at least partially pay for themselves through increased economic growth were correct.

https://www.investors.com/politics/...nues-record-high-april-paying-for-themselves/

 

Unlike most, I read the links.

"Without the wars in Iraq and Afghanistan, the enormous post-9/11 defense buildup, and two rounds of costly, regressive tax cuts...."​

So not one single Democrat participated in those decisions? Obama didn't do a thing?

https://www.foxnews.com/politics/obama-signs-tax-cut-bill-partisan-debate-rages-on

The left is getting really desperate to think they can sell this partisan pap and have people outside the bubble buy it.

 

If that's true, then Trump once again sold bullshit as a success ...
What is more tax revenue if the deficit grows anyway? Every blind person sees that this is hot air!

 

Of course it wasnt fixed. Obama did what the bankers wanted instead of what was proper and difficult.

I agree with that.
How many of those cuts did the Dems propose?

 

The topic of my post, that you quoted was spending cuts. Go quote the OP if you want to address that

 

Is that seriously your standard for determining whether a particular policy belongs to one party or the other? As soon as it earns a single vote from the other side, it becomes bipartisan or something?

Jesus.

 

My post spoke of spending cuts.
You quoted it yourself

 

I mean increasing salaries. Thats a good thing. Corporate profits are a good thing. Im not claiming they aren't. But they are only a good thing if they are used properly. Hiding them, and/or distributing them to a minority of employees is a bad thing. The more of those profits they can put back into the economy the better. But when those moneys are given to fewer and fewer people, that is bad for the economy.

 

Again spending and tax revenue are two different subjects. Facts are facts and the fact is tax revenues have grown at record rates since the tax cuts.

"According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month."

https://www.investors.com/politics/...nues-record-high-april-paying-for-themselves/

 

This thread is a giant lie. The numbers are NOT in because the economy is still growing, people are getting hired, and those new tax payers will be paying for the tax cuts. This thread is absolutely pathetic in its sheer ignorance

 

Do you acknowledge that the Republicans, including Trump, have control of both houses and the WH?

And that they are responsible for the increase in the deficit in FY 2018?

 

Your referring to one new law. Their are THOUSANDS of rules/laws that allow for much more of those taxes to be deferred, or even written off completely. Personally I have always disagreed with repatriation taxes, but their are many who feel that they are valid because of import/export laws that would allow them to hide them.

 

It is very disappointing to see conservatives abandon their principles, and show their hypocrisy in regards to deficits and spending. Think about this: The deficit has increased 77 percent since McConnell became majority leader in 2015.

I do admire Rand Paul who is one of the very few who still stand y his principles. Below his 2nd speech on the topic. He states the GOP behaviors is the very definition of hypocrisy. He has my vote in 2020. We need some real conservatives in there.

 

If I am on ignore how are you seering my post?

 

Revenues are above projections.

It is the spending.

 

What are you talking about we had an explosion of tax revenue growth after the Gingrich/Kasich tad rate cuts and after the Bush43 tax rate cuts.

 

Whereby you have to relativize the comparison with 2017, because in the USA the nuclear fuel tax had to be repaid by the Supreme Court according to the judgment, which drastically reduced the revenue at that time.

But again ... what brings someone more income if you drastically increase your deficit too? Nothing ... that is pure hot air if you do not look at the expenditure side.

 

Bush tax cuts cut the poorest taxpayer's rate by 33%, and the richest by 9%.

 

You were the one that brought up:

People were just responding to the absurdity of it.

Agree. We are only 2 years in to an 8 year plan and unless the Democrats get control again and screw it all up, the full weight of the plan has yet to see it's fruition.

The deficit needs to be dealt with though. Obama added $10 trillion and his horrid GDP numbers coupled with his spending were sinking the country into a quagmire. He had so many people on food stamps alone because he couldn't get the economy going properly.

 

You can't turn a battleship around on a dime. There's a whole lot more people working with each paying less taxes. Sweet. Very sweet. Stay the course and the deficit will decrease. Spending cuts should now become a major objective. 7 million job openings and people not working need a kick in the ass to get into a higher gear.

 

You have to look at the entire bill not cherry pick same number that suits your argument:

https://www.cbpp.org/research/federal-tax/the-legacy-of-the-2001-and-2003-bush-tax-cuts




The effect on income/revenue and deficit :

Evidence suggests that the tax cuts — particularly those for high-income households — did not improve economic growth or pay for themselves, but instead ballooned deficits and debt and contributed to a rise in income inequality.[13]

 

4.3% increase vs an 8 % increase for obama in the 8 years he was president. Trump is lacking severely behind obama .