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

"So when you've given the Trump Administration the ability to actually run our budgets, we spend less." — OMB Director Mick Mulvaney on Varney & Co

https://www.facebook.com/video.php?v=275912096377014

 

Oh please bush liked the house prices going up it gave him the fake GDP growth numbers he liked and tauted about.

LOL trying to pretend bush/GOP isnt just as perhaps even more responsble is laughable.

Anyway the revenue numbers are clear: bush did what he was elected to: lower the taxes for mainly the rich and revenue tanked because of it.

 

I already gave you the numbers for last term obama: 6+% growth over those years. And yes 2017 wasnt that good that was under trump already. Same for 2018 while growth is up it nowhere near what obama was getting.

fact remains obama had a higher increase in revenue and a lower deficit . Trump is failing in that, perhaps 2019 will be better but I doubt it.

 

You are cherry picking the economic rebound years where tax revenues went from the bottom back to normal levels. Take those years out of the equation and his numbers kind of sucked.

 

Here, let me educate you on this subject..........


It was actually as far back as 2001.

 

Sure blame democrats. Of course thats ignoring that republicans mostly had control off congress during that period. LOL

https://en.wikipedia.org/wiki/Party_divisions_of_United_States_Congresses

 

No again 2012->2016 is 6+% growth I alrady gave you the numbers. That waaaay above what trump is getting in 2017 & 2018 .

 

That goth screwed up a lot longer before that be deregulation and that was mainly driven by republicans but democrats helped along.

They all enjoyed the economic boom that bubble gave and noone wanted to really act on it, certainly not bush

 

Here's the numbers,do the math. The last three years of Obama were not so great as his economic policies took hold and the natural recession recovery topped out.
By the way 2017 was still Obama policies in place in large part. Trump was just getting the ball rolling

• FY 2019 - $3.422 trillion, estimated.
• FY 2018 - $3.34 trillion, estimated.
• FY 2017 - $3.32 trillion.
• FY 2016 - $3.27 trillion.
• FY 2015 - $3.25 trillion.
• FY 2014 - $3.02 trillion.

 

That's how it's supposed to work. Cutting spending AND taxes, together. Even JFK did that kind of thing and nobody complained about it.

Who said there was some timeline imposed when this begins to happen, besides as your source claims? Non-issue here. Nothingburger.

 

Trump promised that his tax cuts would not increase the deficit.

It did.

 

Total Horseshit.

Trump's been President for 635 days, and over that time, the Federal Debt has increased by $1,706,845,854,273.90
Over Obama's last 635 days, the Federal Debt increased $1,795,365,192,055.30

So Trump not only DECREASED the growth rate of the Federal Debt, but he increased GDP by 84% in the teeth of several Fed hikes.

Remember, every Fed hike makes it more expensive to service Obama's massive debt, but with the Trump Strong Economy,, we just keep Powering Straight on through!

https://www.treasurydirect.gov/NP/d...tYear=2015&endMonth=10&endDay=17&endYear=2018

 

That's even more depressing.

Pointing to repatriated funds doesn't help your case.

All it does is draw a line under the fact that the new tax law and new GOP spending blew up the deficit. And you point to the only reason why it isn't worse than it is! These repatriations are one time, and one time only!

 

Feel free to explain how increased tax revenues increase the deficit

 

No, it didn't.

 

US GDP did not increase by 84% on a year and a half. Do you people even hear yourselves when you make this ridiculous claims??????

I know Trump doesn't. He just makes it up, and all the suckers at his rallies cheer like trained seals.

 

Well they took the Congress January of 2007 a year before the recession even began and FY2008 and FY2009 were Democrat budgets. Why are you trying to blame the Republicans?

 

Housing prices do not affect GDP. New home construction is the only part of residential housing that affects GDP and that is only about 3% of GDP. So your comment that the rising home prices caused "fake GDP numbers" is entirely fake. And your comment that the Bush tax rate cuts tank revenue is LAUGHABLY false, we hit RECORD revenue increase rates hitting 15% after the tax rate cuts were fully implemented as already shown.

 

Read the OP. The tax cut did not reduce the deficit.

 

Yes he did. You are going to have to learn to look things up.

Trump's first 5 full quarters
2nd 18 - 4.2
1st 18 - 2.2
4th 17 - 2.3
3rd 17 - 2.8
2nd - 17 3
Average - 2.90

Obama's last 5 full quarters

4th 16 1.8
3rd 16 1.9
2nd 16 2.3
1st 16 1.5
4th 15 0.4
Average 1.58

Trump's growth increase 84%

Couldn't be prettier!



And all this, while the Fed is hiking rates and reducing their balance sheet!

Trump may have a mouth on him, but damn does he do good work!

 

No, it didn't. Spending did.

 

The tax cut did exactly what it is designed to do. It brought in additional tax revenue. The lefts attempt to obfuscate by switching the subject to spending is obvious here.
Once again how do additional tax revenues increase the deficit? Can't answer can you.

 

At that time the bubble was already well inflated as we both know the housing bubble peaked at mid 06 if i recall correctly.

Stop trying to shift the blame you only apear incredibly partisan.

 

Hard numbers to argue with

 

Once again: