Conservative Tax Cuts slowed the economy

[Mott the Hoople]

Well over half the federal budget is spent on entitlements and the military. So yes, if you are serious about addressing the debt you must address the largest programs.

If you want to talk inequality why do we have a federal reserve pushing asset inflation with their policies? Who benefits when equities and home prices increase at the rate they have? It isn't really the poor.

One can disagree with the tax cuts but its pretty mind blowing to see supposedly educated people argue they hinder growth along with thinking they act alone in determining economic results.

It's been a mixed bag for me. Though I know that's anecdotal but under Trumps first year my ROI for the year was 12%. Which was pretty darned good. 2017 was a 180 deg turn around. In one week in December I lost everything I invested that year and $5k of my principle, that hurt, so my 2018 ROI was like -14%. 2019 was amazing. I made a 19% ROI. However, when I average that out over three years it's not that impressive. So in all I averaged about a 6% ROI over three years which is good but a little less than my average rate of growth was under the previous administration (which was 7%). So this year will be interesting. If I have another 19% ROI year....I'll be a happy camper as that would raise the average for four years to around 9-10%. Which is pretty darned good.

 

[countryboy]

Actually the poor and working class are paying more % than the wealthy and rich.

The GDP will not grow more than 1.2 to 1.4 now to election day.

Lol, the poor and working class do NOT pay more taxes than the rich. Don't be ridiculous. GDP isn't the only economic yardstick. You said the tax cuts are hurting the poor and working. Tell us how, exactly.

 

[Truth Detector]

A tariff is a tax on American consumers. We pay for a tariff. They result in higher prices.

This is patently false. Tariff's may create cost increases, but they can also lead to more domestic production which is GOOD for American consumers and workers.

Allowing trading partners to manipulate their currency and limit imports from our nation is patently stupid. Tariffs work.

 

[Sirthinksalot]

MORON.
The global economy follows the US.
Inflation is 2.3
Between the tarrifs and the tax cuts the US economy is shrinking.

Moron is confusing government revenue with the economy. And doesn't know the difference between growing and shrinking. Put down the crack pipe, you low IQ moron on steroids.

 

[Truth Detector]

I know that, thanks.
The first day of the steel tarrifs a big nail manufacturer went out of business.
Steel was their main raw product and 25% was higher than their margin.

That business didn't go out of business because of the steel tariffs. They had problems long before the tariffs went into effect you dishonest dunce.

 

[Truth Detector]

Actually the poor and working class are paying more % than the wealthy and rich.

That is a lie. Let's see where you get this bullshit from Jimminy.

The GDP will not grow more than 1.2 to 1.4 now to election day.

Another lame and dumb prediction; you like looking like a moron don't you?

 

[archives]

Well over half the federal budget is spent on entitlements and the military. So yes, if you are serious about addressing the debt you must address the largest programs.

If you want to talk inequality why do we have a federal reserve pushing asset inflation with their policies? Who benefits when equities and home prices increase at the rate they have? It isn't really the poor.

One can disagree with the tax cuts but its pretty mind blowing to see supposedly educated people argue they hinder growth along with thinking they act alone in determining economic results.

Recovered that quickly from yesterday? I dropped a hundred taking SF plus two

True, and both need to be addressed, but given we spend many times over on the military than any other nation in the world I'd say the priority should be given to the those in need of entitlements. Plus, descretionary spending can be cut, makes no sense why we are running trillion dollar deficits while enjoying a good economy

Don't know, but the only answer I could offer is that we are currently in an era dominated by those that profit off of increased inflation, who gains if housing and rental costs rise. Bigger question is what will the Fed do, what will they have avaliable to do, if the country is hit with a serious recession

Have to admit that the Trump tax cuts largely contributed to the trillion dollar deficts he is incurring, in terms of growth, they aren't producing the ends they were promised, they are never going to pay for themselves, and they will have a negative effect on the future as the debt consumes more of the GDP

 

[cawacko]

Recovered that quickly from yesterday? I dropped a hundred taking SF plus two

True, and both need to be addressed, but given we spend many times over on the military than any other nation in the world I'd say the priority should be given to the those in need of entitlements. Plus, descretionary spending can be cut, makes no sense why we are running trillion dollar deficits while enjoying a good economy

Don't know, but the only answer I could offer is that we are currently in an era dominated by those that profit off of increased inflation, who gains if housing and rental costs rise. Bigger question is what will the Fed do, what will they have avaliable to do, if the country is hit with a serious recession

Have to admit that the Trump tax cuts largely contributed to the trillion dollar deficts he is incurring, in terms of growth, they aren't producing the ends they were promised, they are never going to pay for themselves, and they will have a negative effect on the future as the debt consumes more of the GDP

I'm depressed, I'm pissed, I'm hungover and sort of walking around in a daze this morning. It short, it sucks *ss right now.

Politicians regularly over promise but tax cuts weren't the reason growth was down last year it was the trade war and tariffs. They sucked the wind out of the economy.

 

[Truth Detector]

Funny, not what Steve Mnuchin said when the cuts were passed and is still saying today;
https://markets.businessinsider.com...s-pay-federal-deficit-grows-2020-1-1028840740

If Mnuchin is saying that, he's a dumbass. You can't think for yourself can you?

How many times does the obvious have to be explained to the obstinate? Discretionary spending decreased in the last three years of Obama's Administration, even when Obamacare was mandated, and it has grown considerably under Trump.

How many times does a low IQ dipshit like you have to be told; Obama had the highest expansion of debt and deficits in the history of our Republic. I don't give a shit about his last three years; I look at the whole record.

Obamacare's costs didn't begin to come into effect until Obama left office you dishonest hack. Obamacare was signed into law March 23, 2010. The impacts of the taxes and spending began to hit in 2014 to 2015.

Deficit in 2014 was at 484.6 trillion. By 2016 it was back up to 584.7 trillion.

I will ask again, when did you write your congressperson and demand they work with Trump on reducing the deficit?

https://www.taxpolicycenter.org/statistics/federal-receipt-and-outlay-summary

And now for the history lesson, again, Obama faced two wars,

LIE and LAME. Those wars were winding down and Obama unilaterally withdrew troops from Iraq by 2011.

an unpaid drug prescription program, and a recession of historical proportions when he took office, deficts were going to occur, someone had to put currency into circulation to avoid sliding into a Depression.

This is speculative bullshit. The biggest hit to the deficit was a massive tax and spend plan called The American Recovery and Reinvestment Act of 2009, costing over a trillion that did NOTHING to improve the malaise we suffered during Obamunism. I am amused by claims that Government spending results in economic growth. Nothing could be further from the truth or reality. The Government can spend nothing without first forcefully extracting it OUT of the economy.

I grow tired of the lame excuses Obama supporters make for him....he had EIGHT Years to fix it which he declared he would.

I will ask again, when did you write your congressperson and demand they work with Trump on reducing the deficit?

Trump caught the wave beginning in 2011, he enjoys a healthy economy, deficts and descretionary spending should be decreasing, it is not, the Lafer curve is bogus

More bull shit from the lying oaf; there was no wave you low IQ hack. Deficits were on the rise. GDP was an anemic 1.48% over the eight years of Obamunism.

Obama declared that we should all get used to the NEW NORM he called it. Trump proved that was bullshit.

I will ask again, when did you write your congressperson and demand they work with Trump on reducing the deficit?

The middle class isn't growing at any real measurable speed, if it was, the US would not be the victim of the gross income inequality it is facing today

Once again that is a lie filled pile of bullshit.

Middle-Class Income at Record High Under Trump with Lower Taxes
October 17, 2019
https://www.netadvisor.org/2019/10/...-at-record-high-under-trump-with-lower-taxes/

Middle-Class Income Up $4,100 Under Trump, Rose Only $1k Under Obama & Bush According to Economist Stephen Moore
October 3, 2019
https://www.westernjournal.com/midd...obama-bush-according-economist-stephen-moore/

Someone Just Noticed The Middle-Class Revival Going On Under Trump
02/12/2019
https://www.investors.com/politics/editorials/middle-class-revival-trump/

Middle class incomes had their fastest growth on record last year
https://www.washingtonpost.com/news...st-year-since-the-end-of-the-great-recession/

Lastly, it is quite obvious "truthie" is a victim of the very designs I discribes above, in his views, rather the views he has swallowed,

It's quite obvious that Arsecheese is a low IQ, uneducated know-nothing prone to spew lie filled bullshit without anything factual to back it up.

I will ask again, when did you write your congressperson and demand they work with Trump on reducing the deficit?

....of course entitlements are bad, increasing discretionary spending is fine, but it is entitlements that have to go, he reminds one of the guy in 2010 who shouted at a Tea Party meeting that socialism was evil but Obama better keep his hands off of his Medicare

You sad, impotent, illiterate fool; once again you pontificate strawman claims no one has made, scarecrow. Where did I say they were bad? I said they are the reason for the massive debt and deficits we are seeing. I also stated that turning our citizens into dependent wards of the massive state is not how you make things better for them. It makes things worse.

Entitlements are merely a strategy by the Party of the Jackass to buy the votes of willing dupes and ensure their loyalty for decades to come.

I will ask again, when did you write your congressperson and demand they work with Trump on reducing the deficit?

 

[Truth Detector]

It's been a mixed bag for me. Though I know that's anecdotal but under Trumps first year my ROI for the year was 12%. Which was pretty darned good. 2017 was a 180 deg turn around. In one week in December I lost everything I invested that year and $5k of my principle, that hurt, so my 2018 ROI was like -14%. 2019 was amazing. I made a 19% ROI. However, when I average that out over three years it's not that impressive. So in all I averaged about a 6% ROI over three years which is good but a little less than my average rate of growth was under the previous administration (which was 7%). So this year will be interesting. If I have another 19% ROI year....I'll be a happy camper as that would raise the average for four years to around 9-10%. Which is pretty darned good.

You must really suck at investing then. The stock market has grown 8,591 points in Trump's three years. That is an increase of 43.3%, or 14.4% a year.

 

[Truth Detector]

Recovered that quickly from yesterday? I dropped a hundred taking SF plus two

True, and both need to be addressed, but given we spend many times over on the military than any other nation in the world I'd say the priority should be given to the those in need of entitlements. Plus, descretionary spending can be cut, makes no sense why we are running trillion dollar deficits while enjoying a good economy

Don't know, but the only answer I could offer is that we are currently in an era dominated by those that profit off of increased inflation, who gains if housing and rental costs rise. Bigger question is what will the Fed do, what will they have avaliable to do, if the country is hit with a serious recession

I will ask again, when did you write your congressperson and demand they work with Trump on reducing the deficit?

Have to admit that the Trump tax cuts largely contributed to the trillion dollar deficts he is incurring, in terms of growth, they aren't producing the ends they were promised, they are never going to pay for themselves, and they will have a negative effect on the future as the debt consumes more of the GDP

This is patently false. Revenue is UP after the tax cuts. From 2017 to 2019 Federal revenue is UP by $121.5 BILLION or 3.67%. The tax cuts had NOTHING to do with deficits. That is the result of mandatory increases in entitlement spending.

I will ask again, when did you write your congressperson and demand they work with Trump on reducing the deficit?

 

[Truth Detector]

Politicians regularly over promise but tax cuts weren't the reason growth was down last year it was the trade war and tariffs. They sucked the wind out of the economy.

BULL SHIT. GDP has not gone down and as remained fairly stable at 2.3%. Middle Class incomes are UP. Unemployment levels at 50 year lows.

 

[jimmymccready]

Lol, the poor and working class do NOT pay more taxes than the rich. Don't be ridiculous. GDP isn't the only economic yardstick. You said the tax cuts are hurting the poor and working. Tell us how, exactly.

You are stupid, drunk, or can't read. I said they are paying a higher % of their income in taxes than the wealthy and rich.

Stop displaying your arrogance and ignorance.

 

[Althea]

Thanks to minimum wage increases. But nice how you're trying to pretend wage growth wasn't skewed at the top and bottom.

Where's the 3% growth you promised?

Forget the 3%. Where's the 'rocket fuel'?

 

[Althea]

Well, inflation was 4%, which means white collar saw their real wages grow by just 3.5% over three years (1.2% growth a year) and the "blue collar" saw their grow just 7% over three years, (3.33% per year, thanks to Minimum Wage increases).

That is, if these numbers are to be believed and aren't hiding exculpatory info inside them, like the MW increases.

Even if he isn't lying (this time).

7% of $100,000(/year) is $7000

10% of $35,000(/year) is $3500

IF the bottom tier is even making $35k/year.

 

[Rune]

That business didn't go out of business because of the steel tariffs. They had problems long before the tariffs went into effect you dishonest dunce.

How many companies have more than a 25% margin, retard?

 

[Althea]

Not when companies go bankrupt or downsize because of them. Moron

Nope. Dummkopf is right. Tariffs increase GDP, which is the only reason the numbers are above 2%. Americans are paying more for everything thanks to tariffs.

 

[dukkha]

You are stupid, drunk, or can't read. I said they are paying a higher % of their income in taxes than the wealthy and rich.

Stop displaying your arrogance and ignorance.

perhaps thru "loopholes" - but the income tax rate is progressive; skewed higher to higher incomes.
Too bad the Dems won't work on tax reform with Trump, they'd rather obstruct

 

[dukkha]

I'm depressed, I'm pissed, I'm hungover and sort of walking around in a daze this morning. It short, it sucks *ss right now.

Politicians regularly over promise but tax cuts weren't the reason growth was down last year it was the trade war and tariffs. They sucked the wind out of the economy.

curious if you have any evidence of this? get back to us after the hangover...feel better

 

[dukkha]

Not when companies go bankrupt or downsize because of them. Moron

not happening because lack of US demand. for ex.construction is booming

US economy is still growing, although manufacturing isn't, and the reason for that is foreign demand is down
Caterpillar cuts profit outlook as China construction sales slump
https://www.reuters.com/article/us-...it-outlook-as-china-sales-slump-idUSKBN1X21B7