Penn Wrestling $$
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Here's the actual CBO report, which your source has deliberately misquoted. I got a tad bit curious when the Fake News source didn't post a direct link to the CBO report. No, the CBO numbers show the increase is 1%, not 9%. https://www.cbo.gov/publication/54156#section0
Someone's lying, and it can't be the CBO, especially when it's the CBO that the source is quoting. LOL!
It's only on another planet, or in the constructed reality of certain radio channels, that anyone could think that you could cut taxes, continue to spend money like it grows on trees, and INCREASE revenues to government! Again, it's never happened in our history, and it's not going to happen now. Watch the shortfalls, debts, and deficits climb with lost revenue.
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The other thing is that spending increased by a higher percentage than revenue which is, obviously, not a good thing. Further, from whom did the extra revenue come? Trump's plan seemed to have the potential to increase the burden on poor and middle class individuals and I wouldn't be shocked to see that come to fruition.
Despite my generally far-left leaning socio-political views, I am in favor of eliminating taxation on corporations. It's well established that it is double taxation. Of course, I would increase the marginal rates for incomes over $5 million significantly to counter the revenue loss.
It’s only in reality that cities/states cut taxes and give sweetheart deals to secure major revenue generating businesses and sports teams. So, the net effect over time is greater revenues in the city/state, more workers getting incomes and paying taxes and more people boosting the economy using local goods and services. That can often translate to better local resources, better schools, etc.
The recent tax policies are designed to also bring in huge sums that are were being held outside of the country. Bringing foreign held funds into the country allows them to be taxed in the US, even if it’s at a lower rate. Those vast sums can be applied to building and expanding businesses in the US, which increases US jobs and expands the economy.
The recent plans helped to boost the economy and jobs for all races, as all races are benefiting by the growth. Iirc, Black and Hispanic unemployment rates are at record lows. That’s fantastic! It not only improves the lives of those individuals and their families, but it also lowers or removes their dependency on costly bureaucracy and government handouts.
Building self-worth and self-wealth through jobs and personal income are important benefits. They can potentially benefit some individuals and families, over generations. Such freedom and independence can be very good things for individuals, families and society!
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I guess that I would first add this: you specifically cited a literal fake news story (you don't actually see many of those) that ran counter to what the actual CBO report said. Is this where you get your information that tax breaks give us revenues?
One piece of review data that I cite is this:
- 70% of 55 different peer reviewed studies found that tax incentives either did not substantially contribute to economic performance, or the handout produced mixed results.
Here's a more recent one that shows the same. One big welfare system for the wealthy, all the while our jobs get shipped elsewhere to pay for these handouts. http://journals.sagepub.com/doi/full/10.1177/2053168017713646
Yet even more. One big welfare system for the wealthy who don't create jobs for us. http://www.pewtrusts.org/en/researc...ting-state-tax-incentives-for-jobs-and-growth
https://itep.org/tax-incentives-costly-for-states-drag-on-the-nation/
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You are ignoring reality.
Jobs and businesses are increasing, with deregulation and pro-business, pro-jobs policies.
Bringing huge amounts of funds into the US also increases the pie. You can’t create and maintain US jobs, if the government policies are driving them out of the country.
Expanding lower cost domestic energy options is also a plus for individuals, businesses and jobs. Freeing up the US Energy Industry is opening up vast amounts of cleaner Nat Gas among other options. That massive energy boost has multiplying positive impacts for individuals, businesses and the economy.
Investments, jobs and wealth flow to business friendly locations. Fortunately we finally have federal leadership that wants to improve the lives and jobs for US workers, instead of driving their jobs out of the country.
Updates are always welcome.
Reality still dominates, with economic wealth flowing to business friendly options, to create or sustain better environments for jobs, income, tax bases.
OK. I showed you numerous studies that show exactly the opposite. Do you have scientific studies that counter what economists already know: that it does nothing to benefit anyone?
Here's a simple a-ha moment to come: As Neil Cavuto recently said, the economy has been booming for 92 consecutive quarters. How did that happen when Obama raised taxes on the wealthy?
Take it from Forbes and Tweety himself. https://www.forbes.com/sites/realsp...does-better-under-the-democrats/#3cedaaf96786
Here's the link to the guy's own data. http://presidentialdata.org/
It’s true that businesses and organizations with bad managent can show short-term profits, while neglecting needed infrastructure and needed investments. Then, when their predictable collapses occur, it takes effort, investment and better management to overturn the bad policies and right the ship. Reps have had to repeatedly try to clean up the Economic Disasters created by the left.
JFK’s economic policies wouldn’t be welcome in the modern extremist leftist/socialist party.
LBJ created massive handouts to buy votes, which created generational problems of dependency, family breakups and trillions in costs.
Carter’s Misery Index Economic Disasters had Leftists screaming that his economy proved that capitalism couldn’t work.
Meanwhile Reagan not only turned around the disastrous Carter economy, but he defeated the Soviet Empire, without firing a shot. Reagan’s economic policies created a significant “Peace Dividend” that extended for many years for our economy and for the American people.
Meanwhile, Reagan’s pro-business economic policies laid the foundation for creation of massive new innovation and the high tech
boom. That boom has helped to transform the US economy and the world economy, with massive improvements in efficiency and effectiveness. Enormously effective.
Clinton was on his way to economic disaster, but he was saved by the 1994 Rep Revolution. They forced Clinton amid his kicking and screaming and against the lamentations of the Dem leaders, to adopt fiscal restraint, by some five times rejecting his bloated budgets and thereby achieving better economic results. They also adopted needed welfare reforms that freed up Americans to improve their personal wealth.
Clinton’s collapse of US on-the-ground intel operations, set the stage for 9/11, where the US was blinded by destroying links to key foreign contacts worldwide. His US policies badly gutted the US Global Intel operations. Huge losses of key US and foreign intel resources left the US vulnerable on many fronts. (Once again, cutting key programs can improve short-term bottom lines, but they can create long term disasters that subsequent leaders have to rectify with needed investments of time and resources.)
But Clinton’s lasting economic legacy was the disastrous Clinton/Cuomo Housing Vote-buying Disaster Policies, that eventually caused the worst economic collapse in US history. Sen Frank and Dems repeatedly blocked needed reforms. They falsely claimed there was no problem with their massive vote-buying scheme, all the way up until their house of cards collapsed into their massive US financial disaster. (It was a “ticking time bomb” of bad policies leading to economic disaster, that was all too predictable, way back when it was created under Clinton in the 90s.)
Obama’s economy ranks as the worst recovery in US history. It’s no surprise that anti-business, anti-economic growth policies suppressed economic growth. Cause and effect.
Now we are again seeing the cause and effect of a new administration’s turnaround policies that are pro-growth, pro-business, pro-American worker jobs. Predictably, supporting economic growth attracts and expands businesses, jobs and the economy.
Record low unemployment for Blacks, Hispanics and for other American workers is a huge benefit for Americans of all races. That’s fantastic news for America and Americans.
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Typical illogical response,
ignoring history and cause and effect,
while using the logical fallacy
of ad hominem attacks against
the messengers. No surprise.
ignoring history and cause and effect,
while using the logical fallacy
of ad hominem attacks against
the messengers. No surprise.
PS - Time to go back to wrestling
on the Wrestling Board.
Ignoring history? Show me the one time that tax cuts brought in revenues and didn't run deficits and debt.
He can't. It's all political rhetoric. Literally blaming the Dems for this and lauding the Repubs for that... facts don't care about your politics.
And that's a good part of the reason why I became a strident independent a couple of years ago.
I'm also mainly an independent because I don't fit into any neat, convenient political categories, so "independent" works best.
Plus, it doesn't bind me to one choice or another, and, MOST importantly, I no longer have to plug my nose, turn my head and look away, and pull a lever any longer!
Right on, TJ! Just the other day I explained to my professor, "don't give me your studies and your sources; the reality is that alligators are ornery because they got all them teeth and no toothbrush!"
#becauseisayso
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I agree. Can we just rename it "Caution, political/economic discuss here"
The sports teams tell the yokel mayors and city councils that the tax breaks pay for themselves in the long run. And tobacco companies told their customers (for decades!) that smoking does not cause lung cancer.
I'm not going to get into the political side of this, as I would rather have a flat tax... but one has to be perturbed when... Tax payers pay for a stadium... then pay for a team to move (balto), then sell the seats to companies who then use them as a tax deduction for clients and themselves... taxpayer gets stiffed as there are no available seats or are priced pretty high. But then again, the 500% markup on beverages help out.
Unless I'm missing something, TJ's info and your info match up for what each thing says. The CBO information that you give, showing the 1.2% (Chart on Page 2 of CBO report), is for FY 2018, and that is exactly what TJ's IBD article says (Paragraph 4).
T.J.'s article also says January to June year over year figures are up 9%, according to the CBO. Your CBO information does not address January to June figures.
So, is it political to you or isn't it? "Tweety Putin" seems pretty political. Maybe it's just me.
You're right. Someone was lying. But, it was neither the CBO, nor IBD.
Actually, stop all of the presses! In the CBO's own words, revenues are up 4% and outlays are up 5% during the first few months of 2018. Hence, revenues are behind spending, which is NOT what is supposed to happen when you give welfare breaks (tax cuts) to the wealthy.
And, still please provide science (or a CBO report) that shows that the welfare breaks directly led to increased gubment revenues.
https://www.cbo.gov/publication/53549#section1
And, still please provide science (or a CBO report) that shows that the welfare breaks directly led to increased gubment revenues.
https://www.cbo.gov/publication/53549#section1
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Take that just one step further...when the corporate seats go unused because they couldn't find anyone to take them that night.
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