- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Trump tax cuts carry a big price tag: Huge debt and risk of another financial crisis
Posted on 6/26/18 at 10:26 pm
Posted on 6/26/18 at 10:26 pm
LINK
The tax cuts championed by President Trump are helping push the nation toward an unprecedented level of debt, heightening the risk of another financial crisis, according to the nonpartisan Congressional Budget Office.
The budget office’s annual look at the government’s long-term financial outlook paints a grim picture, projecting soaring deficits in the coming years, with debt ultimately peaking at more than 152% of the nation’s gross domestic product.
MAGA
A
G
A
The tax cuts championed by President Trump are helping push the nation toward an unprecedented level of debt, heightening the risk of another financial crisis, according to the nonpartisan Congressional Budget Office.
The budget office’s annual look at the government’s long-term financial outlook paints a grim picture, projecting soaring deficits in the coming years, with debt ultimately peaking at more than 152% of the nation’s gross domestic product.
MAGA
A
G
A
25
Posted on 6/26/18 at 10:27 pm to DavidTheGnome
fake news. whatever helps at night
Posted on 6/26/18 at 10:28 pm to DavidTheGnome
Yea, it has zero to do with our spending levels.
It is laughable to blame the TCJA on our deficit problem.
We took in A RECORD AMOUNT OF TAX REVENUE LAST MONTH.
It is laughable to blame the TCJA on our deficit problem.
We took in A RECORD AMOUNT OF TAX REVENUE LAST MONTH.
Posted on 6/26/18 at 10:30 pm to DavidTheGnome
Just cut the size of government. Problem solved.
Posted on 6/26/18 at 10:30 pm to HailHailtoMichigan!
Got everything to do with our spending baw. Until that’s taken care of stop running up the credit card
Posted on 6/26/18 at 10:31 pm to DavidTheGnome
What do you know about anything, prog media parrot? 
Posted on 6/26/18 at 10:32 pm to DavidTheGnome
quote:
Trump tax cuts carry a big price tag: Huge debt and risk of another financial crisis
Go back to starting shitty threads on the OT you fricking sky screamer
Posted on 6/26/18 at 10:32 pm to DavidTheGnome
Tax Cuts + Trade War = ?
Posted on 6/26/18 at 10:33 pm to DavidTheGnome
Ban this fool. He ran off LucasP and he starts too many threads.
Posted on 6/26/18 at 10:33 pm to Wild Thang
quote:
Go back to starting shitty threads on the OT you fricking sky screamer
This
Posted on 6/26/18 at 10:35 pm to DavidTheGnome
Let me guess...
Tax cuts "cost" the government and there's no dynamic scoring?
Tax cuts "cost" the government and there's no dynamic scoring?
Posted on 6/26/18 at 10:35 pm to starsandstripes
quote:
Ban this fool. He ran off LucasP and he starts too many threads.
He's responsible for LucasP leaving or catching a timeout?
I loved that guy.
OP can EAD.
Posted on 6/26/18 at 10:38 pm to udtiger
Naw bruh spending unchecked and not paying for it costs your children, the government doesn’t give a flip.
Posted on 6/26/18 at 10:42 pm to DavidTheGnome
ATL reserve projecting 4.7% GDP in Q2....do you even understand what that means for our economy and the additional taxes that will actually bring in on top of the record taxes we collected last year....oh, and let’s not forget all the new workers paying taxes, the jobs coming from overseas or the repriations...or the companies giving bonuses to all employees that will pay taxes on those, PLUS give taxes to the things they buy. Did we even talk about about all the jobs Trump hasn’t filled because they’re useless or how much quicker things are getting done without all the regulations?? But, the “non-partisan” CBO says if all else stays the same, tax cuts would be bad....well, no shite Sherlock
Posted on 6/26/18 at 10:42 pm to DavidTheGnome
quote:
DavidTheGnome
How in the blue frick do we take in MORE TAX REVENUES, and yet you douche nozzles still attempt to blame rising debt on tax cuts??
quote:
the nonpartisan Congressional Budget Office
LOL
Posted on 6/26/18 at 10:43 pm to DavidTheGnome
quote:
Just keeping the federal debt at its current, historically high level would require increasing taxes by 11% — $1,300 per household — or cutting spending by 10%.
It's not even until the end of the article that this is even suggested as a possibility.
There's also no guarantee that raising taxes would increase tax revenue. In fact in the past 60 years tax cuts have probably been more effective in raising tax revenues.
quote:
The impact of the tax cut comes on top of a preexisting problem — the spiraling price of providing subsidized healthcare and Social Security for the huge baby boom generation as it moves into retirement, the budget office said.
It's almost like Obamacare was a bad idea.
quote:
More recently, the U.S. plunged back into a high debt to combat the Great Recession, when Congress passed major spending increases to pull the nation out of it. But Washington not only failed to wipe out the red ink when the economy rebounded, after a few years of progress in President Obama’s second term
In the same article they have graph (similar to this one) that shows the "progress"
This post was edited on 6/26/18 at 10:45 pm
Posted on 6/26/18 at 10:43 pm to DavidTheGnome
quote:revenue increased massively in the first quarter the tax cuts were in effect. Every major tax cut in the past 100 years has exploded tax revenue. Tax cuts are not the cause of the debt problem, out of control spending is
The tax cuts championed by President Trump are helping push the nation toward an unprecedented level of debt,
Posted on 6/26/18 at 10:45 pm to DavidTheGnome
quote:
Naw bruh spending unchecked and not paying for it costs your children, the government doesn’t give a flip.
Aren't they expecting more actual dollars in tax revenues though, even with the meager cuts to the everyman?
Posted on 6/26/18 at 10:46 pm to DavidTheGnome
quote:
The tax cuts championed by President Trump are helping push the nation toward an unprecedented level of debt
This remains to be seen - lots of job growth and corporate expansion (meaning more tax revenues), lots of repatriation, and attempts to correct trade imbalances- this could all coalesce into a period of economic growth like we haven't seen in decades.
ETA - that said, we definitely need to reign in spending - Trump fricked up when he signed the spending bill for sure.
This post was edited on 6/26/18 at 10:48 pm
Posted on 6/26/18 at 10:48 pm to chity
quote:
Just cut the size of government. Problem solved.
Totally. Do you want us to cut the parts of government that help you or the parts that you don't need but help others?
This post was edited on 6/26/18 at 10:51 pm
Page 1 of 2
Back to top
Follow TigerDroppings for LSU Football News