I thought Trump was supposed to get us out of debt

[Tripnsweep]

https://abcnews.go.com/Politics/wireStory/house-republicans-unveil-blueprint-extend-45-trillion-tax-118744182

But this is the part where somebody explains that running a huge deficit isn't a problem when a Republican is in office. 

[red viking]

Yup. The hypocrisy of the right at it again. The wingers just unveiled their budget proposal which would increase the deficit AND debt even more from Bidens term. Very tiny spending cuts but HUGE tax cuts 4 the rich. 

[Tripnsweep]

Still waiting to hear how billionaires paying less taxes is supposed to help regular people out. Maybe this means the Walton family won't need to have their employees rely on food stamps and government welfare anymore? 

[red viking]

7 minutes ago, Tripnsweep said:

Still waiting to hear how billionaires paying less taxes is supposed to help regular people out. Maybe this means the Walton family won't need to have their employees rely on food stamps and government welfare anymore? 

They claim it actually increases revenue which has been proven wrong beyond a doubt for anybody w a basic economics understanding and the modern tax brackets (lower than several decades ago). They'll still make the claim regardless of how obviously false it is. 

[mspart]

As GDP rises, so does taxable income and so does revenue for the Treasury. 

It isn't as difficult to understand as you make it sound. Currently The US spends 25% of the GDP.    What should they spend in comparison to the GDP?

mspart

 

[Tripnsweep]

6 minutes ago, mspart said:

As GDP rises, so does taxable income and so does revenue for the Treasury. 

It isn't as difficult to understand as you make it sound. Currently The US spends 25% of the GDP.    What should they spend in comparison to the GDP?

mspart

 

So giving billionaires tax breaks is supposed to help out regular people how? Because the lie the Republicans have perpetuated for the last 40 years is that trickle down economics works, you just have to totally give it time and you'll see. 

[Caveira]

25 minutes ago, Tripnsweep said:

Still waiting to hear how billionaires paying less taxes is supposed to help regular people out. Maybe this means the Walton family won't need to have their employees rely on food stamps and government welfare anymore? 

Billionaires already pay a huge % of American taxes.   They pay enough.  The gov spends to Much on shyte they don’t need to.  Oooh and dems don’t pay any taxes on the china / Ukraine / Russia bribes they get.   That should change.  
 

https://taxfoundation.org/blog/super-rich-pay-effective-tax-rates/

 

The Super-Rich Pay Super-Amounts of Taxes, New Treasury Report Finds

November 7, 20247 min readBy: Scott Hodge

A common refrain from many progressive lawmakers is that the rich don’t pay their fair share of taxes. “Fair share” is, of course, subjective. But a new Treasury studyprovides data showing that the rich not only pay more than the middle class, they pay more than one-third of their annual income in federal taxes and more than 45 percent when state and local taxes are included.

[Scouts Honor]

1 hour ago, Tripnsweep said:

Still waiting to hear how billionaires paying less taxes is supposed to help regular people out. Maybe this means the Walton family won't need to have their employees rely on food stamps and government welfare anymore? 

it's been shown again and again, the fact you don't listen or read doesn't make it not true

[Husker_Du]

i don't know if anything can highlight how dumb Trip and Lobster are quite like raving against government efficiency of tax dollars and then simultaneously saying we don't pay enough taxes. 

[Tripnsweep]

1 hour ago, Husker_Du said:

i don't know if anything can highlight how dumb Trip and Lobster are quite like raving against government efficiency of tax dollars and then simultaneously saying we don't pay enough taxes. 

You're the dumbest mother ***duck**er on this website. The junior high you dropped out of should burn itself down out of shame. 

[Scouts Honor]

nice ad hom

he attacked you... with your own words...

but you.. yeah.. 

nothing as usual

[red viking]

4 hours ago, mspart said:

As GDP rises, so does taxable income and so does revenue for the Treasury. 

A 100% lie. WHEN THE TAX RATE GOES DOWN, you WILL NEVER automatically see an increase revenue. You conveniently and dishonestly left that part out above. 

A lot of idiots do believe this though and that's why the deficit increases during EVERY republican administration. What u want to bet against that happening again under this trump term? 

Edited February 14 by red viking

[ionel]

2 minutes ago, red viking said:

A 100% lie. WHEN THE TAX RATE GOES DOWN, you WILL NEVER automatically see an increase revenue. You conveniently and dishonestly left that part out above. 

If the tax rate is 100% and is cut to 95% will revenue go up or down? 

[red viking]

1 minute ago, ionel said:

If the tax rate is 100% and is cut to 95% will revenue go up or down? 

That's not remotely close to the situation. Total strawman. 

[ionel]

Just now, red viking said:

That's not remotely close to the situation. Total strawman. 

Is that you Vak?  It is not a strawman.  Do you understand the concept of income elasticity?  Do you know what FDR did? 

[red viking]

6 minutes ago, ionel said:

Is that you Vak?  It is not a strawman.  Do you understand the concept of income elasticity?  Do you know what FDR did? 

Look up the Laffer curve. It's a very simple economic concept. Economics 101. It will explain why your argument is a strawman.

[ionel]

Just now, red viking said:

Look up the Laffer curve. It's a very simple economic concept. Economics 101. It will explain why your argument is a strawman.

What you learn when you take enough economics is that you really didn't learn anything in Econ 101 except to be dangerous ... same true with Stat 101. 

[red viking]

6 minutes ago, ionel said:

What you learn when you take enough economics is that you really didn't learn anything in Econ 101 except to be dangerous ... same true with Stat 101. 

It's all very simple, actually. That's a typical winger argument though, and very sad. All the scholars that devote their lives to the subject disagree w me so they must be wrong. I'll just go listen to somebody that tells me what want to hear. 

[ionel]

Just now, red viking said:

It's all very simple, actually. That's a typical winger argument though, and very sad. All the scholars that devote their lives to the subject disagree w me so they must be wrong. I'll just go listen to somebody that tells me what want to hear. 

Seems to be what you are doing unfortunate as it is.

[red viking]

6 minutes ago, ionel said:

Seems to be what you are doing unfortunate as it is.

If u read up on the subject you'll see that the top of the curve, by all reputable estimates is at a MUCH higher rate than ANYBODY is paying. I'll defer to the PhD economists. You just keep listening to Breitbart and Fox. 

[Caveira]

2 minutes ago, red viking said:

If u read up on the subject you'll see that the top of the curve, by all reputable estimates is at a MUCH higher rate than ANYBODY is paying. I'll defer to the PhD economists. You just keep listening to Breitbart and Fox. 

Don’t forget TikTok boss.  

[ionel]

32 minutes ago, red viking said:

If u read up on the subject you'll see that the top of the curve, by all reputable estimates is at a MUCH higher rate than ANYBODY is paying. I'll defer to the PhD economists. You just keep listening to Breitbart and Fox. 

You "deferred" thank you. 

[Offthemat]

1 hour ago, red viking said:

If u read up on the subject you'll see that the top of the curve, by all reputable estimates is at a MUCH higher rate than ANYBODY is paying. I'll defer to the PhD economists. You just keep listening to Breitbart and Fox. 

Thomas Sowell or Earl Klugman?

[red viking]

24 minutes ago, Offthemat said:

Thomas Sowell or Earl Klugman?

What did Sowell say about the Laffer curve, or Krugman? Extreme wingers btw. Not reputable at all. 

[RockLobster]

11 hours ago, Husker_Du said:

i don't know if anything can highlight how dumb Trip and Lobster are quite like raving against government efficiency of tax dollars and then simultaneously saying we don't pay enough taxes. 

Went to the grocery store to buy a dozen eggs today. $8/dozen.

Trump promised he'd fix food prices. The economy promises are what got him elected.

All we hear from Trump is... nothing. He isn't fixing anything, he has nothing to say, his promises meant nothing.

Tariff's on China? Canada? Mexico? Nope - those are tariff's on American importers. That's who pays the tariffs.

And the American importers raise their prices to the grocery stores, who raise the prices for all of us.

How is Trump going to fulfill his promise of fixing it? I, for one, want to know. What's the plan?