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| THIS DEBATE IS ACTUALLY GOING TO MEAN SOMETHING (Page 7/22) |
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82-T/A [At Work]
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SEP 07, 04:54 PM
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| quote | Originally posted by NewDustin:
The article you posted attributed record high revenues to the tax cuts. It ignored that 90% of years over the last 10 years (under Trump and Obama) set a similar record. To claim those tax cuts were responsible for increased revenues or reduced deficits ignores the findings of the CBO and CRS, as well as a large body of reliable evidence. That's what I am trying to say.
Let's back-of-the-napkin math it out:
The inflation rate of the year in question (2017) was 2.13% and revenues that year were $3.32 trillion. That's what...$70 billion dollars in inflated revenue? So if all things remained the same between 2016 and 2017 we would expect a revenue that was $70 billion greater, just to account for inflation, right? If we look at what the actual difference was, it was $3.32 trillion in 2017 and $3.27 trillion in 2016...so $50 billion greater. That's $20 billion less than inflation alone would account for.
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https://budget.house.gov/pr...and-working-families
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BingB
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SEP 07, 05:01 PM
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| quote | Originally posted by 82-T/A [At Work]:
NO ONE IS DENYING that Trump increased the Federal deficit.
The problem is, you're saying the tax cuts led to that. They did not... an increase in spending did. |
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Revenues increase even when we don't have tax cuts. Trump's tax cuts might have increased revenue, but BUT NOT AS MUCH AS THEY LOST IN LOST REVENUE.
Deficit spending increases revenue, but Trump's deficit spending did not raise revenues enough to cover his unfunded tax cuts.
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BingB
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SEP 07, 05:06 PM
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Everyone agrees that deficit spending will pour gas on the economy. They key is to create jobs and grow the economy with more deficit spending.
The last three years of Obama's administration he created MORE jobs and grew the economy at pretty much the same rate as Trump did in his first thee years, except Obama did it with about half as much deficit spending.
Trump needed MORE deficit spending than Obama to create fewer jobs and grow the economy at about the same rate.
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NewDustin
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SEP 07, 07:00 PM
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This is a statement from two Republican members of the house. It is expressly partisan, and is (unsurprisingly, given its nature) full of faulty assumptions and bias. The Brookings article I posted already addressed their primary point: when adjusted for inflation and economic growth the revenues missed initial projections and were lower than they would have been without the cuts. I understand the necessity of "increased revenues" to overall support of the tax cuts, but so far you've been completely unable to show that outside of a investors.com opinion piece, and a partisan publication. That's because you're pining after economic metrics this policy just doesn't have. Why not focus on reduced unemployment, increased household income, increased corporate investments...you know, the positive impacts the tax cuts actually had?[This message has been edited by NewDustin (edited 09-07-2024).]
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NewDustin
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SEP 07, 07:04 PM
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| quote | Originally posted by BingB:
Everyone agrees that deficit spending will pour gas on the economy.
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Chokes in Mises.
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82-T/A [At Work]
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SEP 07, 07:14 PM
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| quote | Originally posted by BingB:
Trump's tax cuts might have increased revenue, but BUT NOT AS MUCH AS THEY LOST IN LOST REVENUE.
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randye
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SEP 08, 12:49 AM
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| quote | Originally posted by NewDustin:
Chokes in Mises.
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Leftists loathe Ludwig.[This message has been edited by randye (edited 09-08-2024).]
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cliffw
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SEP 08, 10:48 AM
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| quote | Originally posted by BingB:
They Trump Tax cuts cost more than the revenue they raised. Let me explain. |
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 , this should be good. Let's just start with the fact that the money the government confiscates from the citizen is revenue.
| quote | Originally posted by BingB:
Business "A" has $1 million in revenue with zero debt.
Business "B" borrowed $2 million dollars in order to generate $1.1 Million in revenue.
Based on your logic business "B" was better off, but that is not the way it works. |
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Ah, thanks. We knew you had no logic.
So tell us BungBob, did Business A, or Business B pay more in taxes ?
| quote | Originally posted by BingB:
Unfunded tax cuts (tax cuts with no spending cuts) are nothing more than borrowing money from the government to put in people's pockets. |
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By the way, I just borrowed three trillion dollars from you kids savings.
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BingB
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SEP 08, 11:19 AM
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| quote | Originally posted by cliffw:
So tell us BungBob, did Business A, or Business B pay more in taxes ?
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It is impossible to say because it depends on how much revenue was re-investing in the company and how much was pulled out as profit. But business A probably paid more taxes because the debt management for Business B would eat up the extra $100K in revenue.
However your question proves that the government has you thinking the way they want you to. Don't worry about borrowing an extra billion as long as it makes more revenue THIS YEAR. 82TA, Trump, and the government want you to think that increased revenue today is worth borrowing an extra Billion a year.
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olejoedad
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SEP 08, 02:34 PM
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Rebuilding Obama's depleted military cost money, just wait until you see the spending to rebuild Joes mess he made.
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