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Started By
Message
re: The GOP wants to add $3T to the debt
Posted on 2/13/25 at 12:45 pm to Boss
Posted on 2/13/25 at 12:45 pm to Boss
quote:
I'm all for paying less in taxes, but it has to come with a massive, massive reduction in spending.
No, tax cuts spur economic activity. Let's say Acme wants to expand their reach by building 5 more stores in different states. But corporate taxes are high and that will make profit expectations too low to take the risk. The President cuts corporate taxes, Acme jumps on it and builds (along with 100 other businesses that were sitting on plans). Acme pays property owners, builders, electricians, etc. Those parties all pay more income tax from the job.
1
Posted on 2/13/25 at 12:50 pm to LSUFanHouston
quote:
4.5T in tax cuts, $1.5T spending cuts.
Last time they cut taxes receipts increased. This is a really dumb OP.
Posted on 2/13/25 at 12:52 pm to RelicBatches86
quote:
The deficit increasing since those tax cuts proves you wrong though.
That’s because spending wasn’t cut. Good Lord.
Posted on 2/13/25 at 12:53 pm to Tmcgin
quote:
The debt is shifting to a new swamp Elon will make out like a bandit
Your ignorance knows no bounds. Elon lost a government contract with Tesla because of his engagement with DOGE. Like usual, the exact opposite of what you say is what is actually happening.
Posted on 2/13/25 at 12:54 pm to oklahogjr
quote:
And a larger deficit than prior to his term. Deficit spending is deficit spending.
It amazes me how stupid some of you are.
Posted on 2/13/25 at 12:55 pm to Zach
Or it can go in the pockets of CEOs. I find it interesting that the corporate tax rate decrease from 35% to 21%, and CEO pay has consistently increased 12-13% a year for the last 8 years.
Also, this study proves otherwise. The tax cuts of 2017 had no tangible effect on corporate investment.
LINK /
Also, this study proves otherwise. The tax cuts of 2017 had no tangible effect on corporate investment.
LINK /
Posted on 2/13/25 at 12:57 pm to TigerSprings
FY 2016 $3.27 trillion
FY 2017 $3.32 trillion
FY 2018 $3.33 trillion <- Most provisions of the TCJA go into effect.
FY 2019 $3.46 trillion
FY 2020 $3.42 trillion
FY 2021 $4.05 trillion
FY 2022 $4.90 trillion
FY 2023 $4.44 trillion
FY 2024 $4.92 trillion <- 47% Increase since tax cuts
The stimulating effects are not instantaneous and it's pretty plain to see that we have a spending problem and not a revenue problem.
Posted on 2/13/25 at 12:58 pm to Boss
quote:
Also, this study proves otherwise. The tax cuts of 2017 had no tangible effect on corporate investment.
Receipts went up, dummy.
quote:
Or it can go in the pockets of CEOs
What goes in the pockets of CEOs. More of a companies profits? You would rather it go to the government? Pathetic.
Posted on 2/13/25 at 12:58 pm to LSUFanHouston
We should try something different.
Politicians and the irs like to scream they need more money, pay your fair share, the tax gap! Oh my.
Why don’t we lower taxes, stop having a complex tax code and be transparent on where exactly every cent goes. Then you might not have a bunch of people doing anything they can to not pay taxes.
Politicians and the irs like to scream they need more money, pay your fair share, the tax gap! Oh my.
Why don’t we lower taxes, stop having a complex tax code and be transparent on where exactly every cent goes. Then you might not have a bunch of people doing anything they can to not pay taxes.
Posted on 2/13/25 at 1:02 pm to BBONDS25
BBONDS you are a complete fricking moron. They went up, but went up less than they would have without the tax cuts. But I wouldn't expect anything different from your smooth brain.
Posted on 2/13/25 at 1:02 pm to Boss
quote:
Or it can go in the pockets of CEOs.
No, that's not what's driving the explosion of CEO pay. It was covered in the book I recently read. CEO salary increases have jumped due to semi-monopolies. They simply make more money by raising prices of the product/service and lower the wages of workers due to the lack of competition. Free markets means competition. If 2 or 3 businesses control 100% of a product that is not a free market. The 2 or 3 do not compete because they are working jointly. It goes like this:
Board member: 'Boss, our major competitor just raised his price on widgets by 30% . We're gonna beat him in sales now!"
CEO: 'NO! Raise our price by 30%. Then cut worker's pay by 5% He'll follow suit and we'll both get rich!"
Posted on 2/13/25 at 1:02 pm to lazlodawg
quote:
FY 2016 $3.27 trillion
FY 2017 $3.32 trillion
FY 2018 $3.33 trillion <- Most provisions of the TCJA go into effect.
FY 2019 $3.46 trillion
FY 2020 $3.42 trillion
FY 2021 $4.05 trillion
FY 2022 $4.90 trillion
FY 2023 $4.44 trillion
FY 2024 $4.92 trillion <- 47% Increase since tax cuts
Out of curiosity, what's the % increase from 2011-2018?
*ETA: looks like 44.8%
This post was edited on 2/13/25 at 1:08 pm
Posted on 2/13/25 at 1:03 pm to Zach
Book name? I'm interested in reading it.
Posted on 2/13/25 at 1:05 pm to Boss
quote:
BBONDS you are a complete fricking moron. They went up, but went up less than they would have without the tax cuts. But I wouldn't expect anything different from your smooth brain.
you’re a tax expert, huh. I’d love to hear more. Your post, by the way, is pure conjecture. How much more would receipts have increased without the cuts?This post was edited on 2/13/25 at 1:12 pm
Posted on 2/13/25 at 1:05 pm to Zach
quote:
It happened with Reagan, too.
Also happened with JFK. That's where the so called Great Society money came from.
Posted on 2/13/25 at 1:07 pm to Auburn1968
quote:
The last Trump tax cut took money out of the unproductive government's hands and put it into the people's hands and the productive economy.
This point cannot be emphasized enough with the veil of USAID coming off.
Posted on 2/13/25 at 1:09 pm to RelicBatches86
quote:
The deficit increasing since those tax cuts proves you wrong though.
You are incredibly stupid, just damn
Posted on 2/13/25 at 1:13 pm to Boss
quote:
Book name? I'm interested in reading it.
The Myth of Capitalism by J. Tepper. It also covers a lot of history. Mistakes in economics are not new. We just didn't learn from what happened to similar policies in other societies centuries ago. The writing style is very good. About 1 of every 10 books I buy turns out to be a horrible writing style.
Posted on 2/13/25 at 1:23 pm to RogerTheShrubber
Nope.
Inflation is a natural byproduct of every economy.
The excess inflation we’ve seen over the past 5 years was due to a global pandemic
Inflation is a natural byproduct of every economy.
The excess inflation we’ve seen over the past 5 years was due to a global pandemic
Posted on 2/13/25 at 1:31 pm to The_Duke
quote:
Inflation is a natural byproduct of every economy.
Here we go with the MMT proponents.
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