re: The GOP wants to add $3T to the debt

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$4.5T in tax cuts,

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While increasing taxes, a.k.a., tariffs. The increased tariff burden shifts the taxes to consumers. In other words, it's on your back.

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Being in corporate tax for 13+ years makes me more qualified than you

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Been a tax attorney for 14 years. Try again, sparky.

All for auditing our spending and finding a trillion or two .. but I thought a lot of the tax cuts being pushed was an extension of the previous stuff he did first term.. it benefitted high income and corp most.. there were lots of articles showing most corps did not invest in large cap projects with savings but did stock buybacks to bump stock price…the thought was to lower the corp taxes and it would trickle down into general economy in jobs.. spending etc.. you got breaks for switching your company from llc to S Corp .. lots of other stuff

I did benefit from those and the new ones being discussed but imo.. let them die..tax tips.. tax my social security.. find another couple of trillion in waste..

Pay down debt.. invest in infrastructure and defense .. not just tanks and guns.. next war will be drones and cyberattacks imo..

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LSUFanHouston

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Bingo! Tax cuts are not annual revenue reductions while spending cuts are. Plus tax cuts tend to increase government revenue as people stop tax avoidance practices and spending cuts more.

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So say my taxes get cut in half. How is that money and then some going to get back to the federal government? The bottom line is it isn't.

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It’s called the Laffer Curve. You cannot cut all taxes, obviously, but the applicable portion of this theory (very observable) is this:

“One implication of the Laffer curve is that increasing tax rates beyond a certain point is counter-productive for raising further tax revenue.” And furthermore will result in lower revenue.

The devil is in the details, but the increased revenue from a tax cut is contingent on the previously high taxes being a hindrance on the economy.

A bigger economy means a bigger pool to draw from.

As you can guess, and I’m not denying, there are many factors that contribute to the overall expansion, stagnation, or recession of the economy. Nevertheless, higher taxation puts a downward pressure on the economy, and lower taxes allows for growth.

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I mean any guy with basic economic sense will understand that cutting a revenue source for the federal government will not result in an increase in revenue.

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You still seem to mingling the ideas of absolute revenue dollars verses tax rates, by which we mean taking a percentage of income taxes.

Another common false implicit assumption that is often made is that there is a set amount of wealth/money. You might be thinking that if the government takes less money, than obviously that money goes elsewhere, and viola, less revenue.

By allowing money to remain in the economy, it actually spurs growth. More money to invest. More money to expand. More cogs and more widgets. More efficiency with expanded technology that can now be afforded, and thus more productivity per worker.

35% of a 1 lb of good coins = .35 lb of gold coins

32% of a 1.5 lb of gold coins = .48 lb of gold coins

Remember that this discussion began with a simple formula that if Trump cut taxes, it would result in 1.5 T less in revenue. That math was wrong.

It certainly is a fact that too much tax cutting and not enough spending control/cutting will result in bigger deficits.

And if Trump pushes an economic formula that passes and results in higher deficits, his voters, even avid fans, will be quite pissed.

This is one of many differences between conservatives and liberals, who support their candidates regardless of outcomes because, darn it!, those Republicans are simply evil!

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You balance a budget by spending less, not by stealing more money from citizens to pay for your stupid laundering projects, dipshit

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We are not cutting spending enough.

Dipshit

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I don’t want a smaller deficit. I want no deficit.

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To have a “balanced budget” your money going out has to equal your money coming in.

We would have to tax at a rate of 100% for the country to not operate in a deficit.

There will always be a deficit, and that’s a good thing.

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$4.5T in tax cuts, $1.5T spending cuts. Why TF does no one want balanced budget??? How about $1.5T in tax cuts and $4.5T in spending cuts?

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How about both. It’s apparent our govt is so corrupt it could rob on a 80% decrease in revenue and spending.