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re: GOP tax document reveals plan for massive tax cuts, preserves key deductions
Posted on 9/27/17 at 10:32 am to GFaceKillah
Posted on 9/27/17 at 10:32 am to GFaceKillah
quote:
Honest question: Would you support these tax cuts knowing that they will increase the federal deficit?
You need to realize something....the Obama GDP growth rate of 1.5% over the last 8 years is a NON STARTER. Obama's GDP growth was the lowest of any President in the modern era(since WW2). Not only did he have the lowest growth rate, Obama doubled the debt from 10 to 20 trillion.
Interest rates are now rising(they were at historic lows during Obama whole 8 year term).. We are 20 trillion in debt. "If" interest rates go back to their historical norm we will have to spend more on debt service then we spend on our military.
The only fix is getting the economy moving more then a 3% GDP growth rate. Once that happens then work on the budget deficit and federal spending.
This post was edited on 9/27/17 at 10:35 am
1
Posted on 9/27/17 at 10:36 am to frogtown
quote:
The only fix is getting the economy moving more then a 3% GDP growth rate. Once that happens then work on the budget deficit and federal spending.
Do you think that these tax reforms will work to achieve that 3% growth rate?
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