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

Well still least you are backing down from your previous statement that increased tax revenue creatrd a defecit. That's a start.

 

Problem with your theory is corporate tax cuts increased tax revenues so now I guess you are back to claiming increased tax revenues somehow increase the defecit. Round and round you go,

 

Complete BS needs no further comment.

 

Now do an apples to apples comparison. Trump's numbers after the tax cut and Obama's last year in office. As you can see the tax cut increased revenues. 1% for obama vs 3% for trump
As for 2017 Trump inherited a stagnant economy with burdensome anti business regulations and it took a while to clean up the Obama mess. One year is extremely fast to pick up after that socialist party.

 

Pay attention this time. The tax rate cuts were passed in 2001 with a 5 year phase in through 2006. They would not go into full effect until 2006. By 2003 the economy was not picking up as fast as the Republicans wanted, rates had only been reduced by 1 percentage point so they passed a second tax bill which immediately phased the full lower rate. And growth took off. everyone was working and paying taxes, fewer people were on welfare and government subsistence and revenues started pouring in and with restrained spending growth the deficit was brought down to a measly $161B for FY2007.

2001 -2%
2002 -7%
2003 -4% - tax rate cut phase in accelerated and fully implemented end of fiscal year
2004 5%
2005 15% - record increase
2006 12%
2007 7% - deficit $161B

Then on January of 2007 the Democrats took back the control of the Congress for FY2008 and we see the disaster that occurred with a recession a year later exacerbated by their failure to take the correct measures to help mitigate and lessen the damage and then get us into a full recovery. That's the legacy of parties and their policies.

 

Well theres a well thought out retort

You do whatever helps you sleep at night. Me, I'll stick with the facts

Touche'

 

Again....great retort. It’s akin to “nu-uh”.

 

In other words, just like over 99% of the RW "retorts" at this forum.

 

You make up whatever “facts” you want......you’ve been shown multiple times why your wrong. Yet in every economic debate you posts the same debunked BS every time.

 

Once again, just like over 99% of the RW "content" at this forum.

 

What was the difference in the political makeup of the government and balance of political power between Obama's first term and his second term?

What is that favorite mantra of the left that the reason Obama was such a lousy President was the the Republicans blocked everything he wanted to do and obstructed everything he tried to do. Care to reconcile that with what appears to be you giving him credit for the economy of his last term when he couldn't do anything because of the Republicans?

 

Again....great retort. It’s akin to “nu-uh”.

As a reminder those facts are

They, CBO, said it, the Trump tax rate cuts, would add $1.5 trillion over 10 years to the existing and projected deficits. The Democrat policies, starting in 2007, increased it, the deficit, $1.2 trillion in just two years from the previous deficit, and stayed over $1 trillion for the next 3 years adding $4.2 trillion in just 4 years.

Refute them or dance and dodge, your choice.

 

And yet.............obviously too difficult for you to comprehend.

Weird, huh?

 

Not this again. I schooled you the last time on how the Budget and spending works. The Fiscal Year starts in October. Clipping out part of the year and doing a comparison is laughable nonsense. The 2017 fiscal year is not a Trump fiscal year. Good grief.

The first Trump fiscal year started in October 2017 and just ended.

 

What measures did Democrats fail to pass to help mitigate the Crash ? This his hogwash beyond hogwash and shows a complete lack of understanding of the factors that caused the crash.

 

They could have passed a bill to make the Bush tax rates permanent. They could have cut corporate taxes. They could have announced a moratorium on new regulations. They could have opened more drilling and not pass regulations to destroy the coal industry. They could have announce a hold on Obama care until the economy turned around and people were back at work.

THEN then could have gotten out of the way and not interfered with this country great businesses and markets got us out of it.

And I said and have never said anything about the CAUSE of the crash as I have pointed out over and over, why do you keep framing it that way?

Now I have answered your question please answer mine. YOU tell me what they DID do that helped to mitigate the damage that worked and got us into a full recovery and kept the deficits from exploding and got everyone back to work in short order, you never want to answer that question. Obama sold his stimulus as it would hold unemployment to 8%, it was 7% at the time, and then it would quickly fall. Instead it soar to 10% with a steep decline in LFPR and stayed over 9% for two years and didn't get down below 7 for what 5 years? Tell me what they did that worked.

And if you only response is your typical "That's already been debunked" trolling then don't bother to respond.

 

ROFLMAO the fiscal year is a budgetary period has nothing to do with the debt which is ongoing there is no start and stop to it like a budget.

 

Trump has been President for 635 days, I clipped nothing, Silly!

You guys claim that Obama had fabulous debt numbers toward the end of his Presidency and Trump beats them while doubling GDP. I'm not saying Obama did terrible, but Trump clearly has the better record.

On Obama's final full quarter the public debt was 105.26% of GDP.
Trump's moved that down to 103.84% in just 5 quarters!

Let the man work, we are on the right track!

 

Not sure what planet you are not but the conversation was about the crash and you proceeded to blame Dem Congress stating.

Now you go one about "Obamacare" ? No clue what page you jumped to but it is not the page we were talking about.

 

Zorro vs Bluesguy

Two Republicans, however, in reference to increasing deficits and the debt,

Bluesguy keeps blaming a Democrat-controlled Congress, whereas;

In an effort to glorify Trump and discredit Obama, Zorro is comparing Trump first 635 days debt increase versus Obama's last 635 days debt increase, DESPITE THE FACT, BEFORE AND AFTER, WE HAD A REPUBLICAN-CONTROLLED CONGRESS.

Thus, who's RETARDED?

And in reference to the Democrat-controlled Congress, Jan 03, 2007 - Jan 03 2011, did Republicans unanimously OPPOSED;

a. Katrina's emergency supplemental and other disaster reliefs? NOPE
b. War on Terror emergency supplemental? NOPE
c. Afghan/Iraq overseas contingency operation budgets? NOPE
d. Pre-Tarp Bailouts? NOPE
e. TARP Bailouts? NOPE
f. Bush Stimulus measures ($161 billion)? NOPE

Total Jan 03, 2007-Jan 03, 2011 spending unanimously APPROVED by Republicans; over $1.5 trillion

Will you folks stop playing RETARDED partisan games!

 

What ?? What part of "Trumps fiscal year started in Oct 2017 do you not understand". When a new president steps into office most of the money for that fiscal year has already been spent and or allocated.

You don't take a part of a fiscal year .. and compare that part to a whole fiscal year. You compare one fiscal year to another.

When the budget for some department - say department of defense is created it is created for the whole year. That money is not allocated on a month to month basis.

The folks in the department do not sit around wondering "Gosh --- I wonder how much we will get this month" except in very unusual circumstances - which completely fks the department up.

 

Trump's reduced the growth in the Federal Debt even while he has nearly doubled the rate of GDP growth. That's why the Federal Debt as a percentage of GDP is down so much since Trump took over.

The US economy is finally growing faster than the Federal Debt.

Obama may have been a great guy, but he just never grasped the how critical robust GDP growth is, so he fkd around with his "New Normal" sub par rates of GDP growth and just could never get ahead of the debt thing. Look at how it was climbing even as his second term was ending.



He was Community Agitator he didn't have a clue how to run the largest economy in the world. Trump may have mouth on him, I'll give you that, but he is just a lot better at this than Obama was, or even Bush.

He has us moving in the right direction,
LET THE MAN WORK!

 

99.9% of everything you post is garbage.

 

I have a feeling that the 3rd quarter GDP numbers, to be released right before the election, are really going to break their hearts.

America is BACK, Baby!

 

and Mueller will be releasing his "Russia Report" after the midterms... the lefties are in for a really rough end of the year.