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Spin it any way you want but the Trump tax cuts have not caused deficits to explode.
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Feb 10, 2019 21:59:41   #
JFlorio (a regular here)
 
Personally I still have big problems with the tax code but our deficit problem is not because of tax cuts people. This should be a bi-partisan understanding of fact. We have a spending problem in America not a taxing problem. Add to that an ever increasing percentage of people who think others who have more for some reason owe them something. We are heading towards debt oblivion.

https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/

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Feb 10, 2019 22:47:42   #
Sicilianthing (suspended)
 
JFlorio wrote:
Personally I still have big problems with the tax code but our deficit problem is not because of tax cuts people. This should be a bi-partisan understanding of fact. We have a spending problem in America not a taxing problem. Add to that an ever increasing percentage of people who think others who have more for some reason owe them something. We are heading towards debt oblivion.

https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/


>>>

Aside from that flank the average Joe and Sally 12pack would normally get about $700 to $1,200 refund but this time they’ll pay between $2,500 and $4,500

Just because the PATCH IRS GAME for eliminating deductions ? Really ?

Why doesn’t Trump Raid the IRS offices and put them on the Arrests lists too ?
You know all those elusive mysterious routinely announced Unsealed Indictments of the Traitors ?

Here’s a HINT... Trump is working for just one of the many Rival Gangs competing for the Crown Jewel of the Foreign Interest Criminal Corporation of the British Crown operating a Fraud Federal Services company on our shores. And the IRS is the collection arm for the Federally Hijacked people called Citizens.

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Feb 10, 2019 22:59:58   #
MarvinSussman
 
JFlorio wrote:
Personally I still have big problems with the tax code but our deficit problem is not because of tax cuts people. This should be a bi-partisan understanding of fact. We have a spending problem in America not a taxing problem. Add to that an ever increasing percentage of people who think others who have more for some reason owe them something. We are heading towards debt oblivion.

https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/



How Congressional Spending and Taxing Affects our Economy

Congress’ unlimited spending powers, fiat currency, floating currency exchange rates, and quasi-permanent federal income* tax brackets have the following consequences:

1. For a given set of federal income tax brackets, the ratio of annual federal income tax revenue to total annual Congressional spending is fairly constant, increasing slightly with spending, from which federal income tax revenue may be accurately predicted.
2. Planning a Congressional budget is a meaningless task since there is no spending limit and, with fixed tax rates, the tax revenue is effectively determined by the spending.
3. For a given tariff/trading policy and assuming gradual and similar technological improvement rates among trading partners, the ratio of domestic after-tax savings (a.k.a. "deficit spending" deposited in US banks) to total after-tax savings (including deposits in foreign banks) changes slowly.
4. The primary goal of the economy is the improvement of infrastructure which determines the security and quality of life of our future generations.
5. The improvement of infrastructure is directly related to the increase of Congressional spending on infrastructure and to the increase of annual after-tax savings.
6. The amount of Congressional spending is limited only by the onset of harmful inflation (> 3% annually). When due to excessive bank credit, inflation is controlled by the Fed’s federal fund interest rate. Inflation due to a shortage of strategic materials (oil, etc.) can be limited only by rationing and price controls. Inflation due to shortages of skilled labor can be limited by free, expense-paid education (including crafts) for all. Inflation due to shortages of important commodities can be limited only by planning production levels.
7. Inflation is directly related to the scarcity of physical resources and, therefore, to the amount of Congressional spending (almost entirely on physical resources).
8. Inflation is inversely related to annual federal income tax revenue and to the ratio defined in paragraph 1. To decrease the risk of inflation, Congress must either spend less on infrastructure or increase federal income tax rates. To maximize the improvement of infrastructure, Congress must maximize both annual spending on infrastructure and federal income tax rates. Cutting Congressional spending or cutting federal income tax rates decreases the potential level of infrastructure quality/quantity.
9. Thus, there is an inverse relationship between the state of our infrastructure and the profits of private enterprise gained by reduction of federal income tax rates.
10. Prosperity increases directly with both the state of our infrastructure and the domestic per capita after-tax savings, both of which vary directly with Congressional spending and with federal income tax rates that permit higher Congressional spending.
*Statements referring to federal income tax apply equally to federal estate tax.
©2018 Marvin Sussman. All rights reserved. Search YouTube .com for Marvin Sussman!

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Feb 10, 2019 23:04:14   #
JFlorio (a regular here)
 
Aren’t you supposed to still be doing Venezuela’s books?
MarvinSussman wrote:
How Congressional Spending and Taxing Affects our Economy

Congress’ unlimited spending powers, fiat currency, floating currency exchange rates, and quasi-permanent federal income* tax brackets have the following consequences:

1. For a given set of federal income tax brackets, the ratio of annual federal income tax revenue to total annual Congressional spending is fairly constant, increasing slightly with spending, from which federal income tax revenue may be accurately predicted.
2. Planning a Congressional budget is a meaningless task since there is no spending limit and, with fixed tax rates, the tax revenue is effectively determined by the spending.
3. For a given tariff/trading policy and assuming gradual and similar technological improvement rates among trading partners, the ratio of domestic after-tax savings (a.k.a. "deficit spending" deposited in US banks) to total after-tax savings (including deposits in foreign banks) changes slowly.
4. The primary goal of the economy is the improvement of infrastructure which determines the security and quality of life of our future generations.
5. The improvement of infrastructure is directly related to the increase of Congressional spending on infrastructure and to the increase of annual after-tax savings.
6. The amount of Congressional spending is limited only by the onset of harmful inflation (> 3% annually). When due to excessive bank credit, inflation is controlled by the Fed’s federal fund interest rate. Inflation due to a shortage of strategic materials (oil, etc.) can be limited only by rationing and price controls. Inflation due to shortages of skilled labor can be limited by free, expense-paid education (including crafts) for all. Inflation due to shortages of important commodities can be limited only by planning production levels.
7. Inflation is directly related to the scarcity of physical resources and, therefore, to the amount of Congressional spending (almost entirely on physical resources).
8. Inflation is inversely related to annual federal income tax revenue and to the ratio defined in paragraph 1. To decrease the risk of inflation, Congress must either spend less on infrastructure or increase federal income tax rates. To maximize the improvement of infrastructure, Congress must maximize both annual spending on infrastructure and federal income tax rates. Cutting Congressional spending or cutting federal income tax rates decreases the potential level of infrastructure quality/quantity.
9. Thus, there is an inverse relationship between the state of our infrastructure and the profits of private enterprise gained by reduction of federal income tax rates.
10. Prosperity increases directly with both the state of our infrastructure and the domestic per capita after-tax savings, both of which vary directly with Congressional spending and with federal income tax rates that permit higher Congressional spending.
*Statements referring to federal income tax apply equally to federal estate tax.
©2018 Marvin Sussman. All rights reserved. Search YouTube .com for Marvin Sussman!
How Congressional Spending and Taxing Affects our ... (show quote)

| Reply
Feb 10, 2019 23:43:54   #
Sicilianthing (suspended)
 
MarvinSussman wrote:
How Congressional Spending and Taxing Affects our Economy

Congress’ unlimited spending powers, fiat currency, floating currency exchange rates, and quasi-permanent federal income* tax brackets have the following consequences:

1. For a given set of federal income tax brackets, the ratio of annual federal income tax revenue to total annual Congressional spending is fairly constant, increasing slightly with spending, from which federal income tax revenue may be accurately predicted.
2. Planning a Congressional budget is a meaningless task since there is no spending limit and, with fixed tax rates, the tax revenue is effectively determined by the spending.
3. For a given tariff/trading policy and assuming gradual and similar technological improvement rates among trading partners, the ratio of domestic after-tax savings (a.k.a. "deficit spending" deposited in US banks) to total after-tax savings (including deposits in foreign banks) changes slowly.
4. The primary goal of the economy is the improvement of infrastructure which determines the security and quality of life of our future generations.
5. The improvement of infrastructure is directly related to the increase of Congressional spending on infrastructure and to the increase of annual after-tax savings.
6. The amount of Congressional spending is limited only by the onset of harmful inflation (> 3% annually). When due to excessive bank credit, inflation is controlled by the Fed’s federal fund interest rate. Inflation due to a shortage of strategic materials (oil, etc.) can be limited only by rationing and price controls. Inflation due to shortages of skilled labor can be limited by free, expense-paid education (including crafts) for all. Inflation due to shortages of important commodities can be limited only by planning production levels.
7. Inflation is directly related to the scarcity of physical resources and, therefore, to the amount of Congressional spending (almost entirely on physical resources).
8. Inflation is inversely related to annual federal income tax revenue and to the ratio defined in paragraph 1. To decrease the risk of inflation, Congress must either spend less on infrastructure or increase federal income tax rates. To maximize the improvement of infrastructure, Congress must maximize both annual spending on infrastructure and federal income tax rates. Cutting Congressional spending or cutting federal income tax rates decreases the potential level of infrastructure quality/quantity.
9. Thus, there is an inverse relationship between the state of our infrastructure and the profits of private enterprise gained by reduction of federal income tax rates.
10. Prosperity increases directly with both the state of our infrastructure and the domestic per capita after-tax savings, both of which vary directly with Congressional spending and with federal income tax rates that permit higher Congressional spending.
*Statements referring to federal income tax apply equally to federal estate tax.
©2018 Marvin Sussman. All rights reserved. Search YouTube .com for Marvin Sussman!
How Congressional Spending and Taxing Affects our ... (show quote)


>>>

JACKPOT ! Way to go Marvin ...

I bet Trump doesn’t know a damn letter about this.

| Reply
Feb 11, 2019 00:40:32   #
PeterS (a regular here)
 
JFlorio wrote:
Personally I still have big problems with the tax code but our deficit problem is not because of tax cuts people. This should be a bi-partisan understanding of fact. We have a spending problem in America not a taxing problem. Add to that an ever increasing percentage of people who think others who have more for some reason owe them something. We are heading towards debt oblivion.

https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/

Revenue growth hits an all-time high every year. It's the YoY in revenue growth that's important.

Below is a cut and paste from the CBO historical tables of yearly revenue. Note that revenue grows every year there isn't a deep recession or another financial calamity. You can't judge the success of a tax cut from revenue growth but the YoY percentage increase or decrease of revenue growth over time...and one or two years simply isn't enough of that...

1968 68.7
1969 87.2
1970 90.4
1971 86.2
1972 94.7
1973 103.2
1974 119.0
1975 122.4
1976 131.6
1977 157.6
1978 181.0
1979 217.8
1980 244.1
1981 285.9
1982 297.7
1983 288.9
1984 298.4
1985 334.5
1986 349.0
1987 392.6
1988 401.2
1989 445.7
1990 466.9
1991 467.8
1992 476.0
1993 509.7
1994 543.1
1995 590.2
1996 656.4
1997 737.5
1998 828.6
1999 879.5
2000 1,004.5
2001 994.3
2002 858.3
2003 793.7
2004 809.0
2005 927.2
2006 1,043.9
2007 1,163.5
2008 1,145.7
2009 915.3
2010 898.5
2011 1,091.5
2012 1,132.2
2013 1,316.4
2014 1,394.6
2015 1,540.8
2016 1,546.1
2017 1,587.1

And forgive me for not taking the time to straighten them out but knowing you, you will find a reason to dismiss them so there is no need for me to take the additional effort...

https://www.cbo.gov/sites/default/files/cbofiles/attachments/45010-breakout-AppendixH.pdf

| Reply
Feb 11, 2019 00:44:35   #
PeterS (a regular here)
 
Sicilianthing wrote:
>>>

Aside from that flank the average Joe and Sally 12pack would normally get about $700 to $1,200 refund but this time they’ll pay between $2,500 and $4,500

Just because the PATCH IRS GAME for eliminating deductions ? Really ?

Why doesn’t Trump Raid the IRS offices and put them on the Arrests lists too ?
You know all those elusive mysterious routinely announced Unsealed Indictments of the Traitors ?

Here’s a HINT... Trump is working for just one of the many Rival Gangs competing for the Crown Jewel of the Foreign Interest Criminal Corporation of the British Crown operating a Fraud Federal Services company on our shores. And the IRS is the collection arm for the Federally Hijacked people called Citizens.
>>> br br Aside from that flank the aver... (show quote)

Trump oversees the Executive and doesn't have the power to "raid" anyone...

There are three equal branches to government Sici. You con's always claim to love the Constitution--well you should learn how it distributes power--because clearly, you have no idea...

| Reply
Feb 11, 2019 01:18:10   #
JFlorio (a regular here)
 
Did I say revenue growth recently was caused by tax cuts. No. I said it wasn’t tax cuts that exploded the debt. Do I believe tax cuts can spur economic growth. Yes.
PeterS wrote:
Revenue growth hits an all-time high every year. It's the YoY in revenue growth that's important.

Below is a cut and paste from the CBO historical tables of yearly revenue. Note that revenue grows every year there isn't a deep recession or another financial calamity. You can't judge the success of a tax cut from revenue growth but the YoY percentage increase or decrease of revenue growth over time...and one or two years simply isn't enough of that...

1968 68.7
1969 87.2
1970 90.4
1971 86.2
1972 94.7
1973 103.2
1974 119.0
1975 122.4
1976 131.6
1977 157.6
1978 181.0
1979 217.8
1980 244.1
1981 285.9
1982 297.7
1983 288.9
1984 298.4
1985 334.5
1986 349.0
1987 392.6
1988 401.2
1989 445.7
1990 466.9
1991 467.8
1992 476.0
1993 509.7
1994 543.1
1995 590.2
1996 656.4
1997 737.5
1998 828.6
1999 879.5
2000 1,004.5
2001 994.3
2002 858.3
2003 793.7
2004 809.0
2005 927.2
2006 1,043.9
2007 1,163.5
2008 1,145.7
2009 915.3
2010 898.5
2011 1,091.5
2012 1,132.2
2013 1,316.4
2014 1,394.6
2015 1,540.8
2016 1,546.1
2017 1,587.1

And forgive me for not taking the time to straighten them out but knowing you, you will find a reason to dismiss them so there is no need for me to take the additional effort...

https://www.cbo.gov/sites/default/files/cbofiles/attachments/45010-breakout-AppendixH.pdf
Revenue growth hits an all-time high every year. I... (show quote)

| Reply
Feb 11, 2019 01:19:22   #
Sicilianthing (suspended)
 
PeterS wrote:
Trump oversees the Executive and doesn't have the power to "raid" anyone...

There are three equal branches to government Sici. You con's always claim to love the Constitution--well you should learn how it distributes power--because clearly, you have no idea...


>>>

Pass
Wrong Answer
Trump has Emergency Powers and Tools he can use against Traitors and seditionists... among other things.

I pray on Friday you’ll get a taste of the first one.

| Reply
Feb 11, 2019 02:37:19   #
PeterS (a regular here)
 
JFlorio wrote:
Did I say revenue growth recently was caused by tax cuts. No. I said it wasn’t tax cuts that exploded the debt. Do I believe tax cuts can spur economic growth. Yes.

Then what were you claiming? That was also what your article keyed in on saying that revenue growth was a new record as if that meant something. I was simply pointing out that it didn't. Your article insists on looking at one year as if it means something...keying in on 2016 for Obama instead of looking at the average revenue growth from the trough of the recession to 2016 which was 10.2% yearly not the 3% being focused on. Lastly, debt grew by 17% over 2017 and if he tax cut wasn't the cause would you care to enlighten us to exactly what it was? It certainly wasn't outlays as they increased by only 3.2% so if not the tax cut are you claiming the increase in debt a mystery?

| Reply
Feb 11, 2019 02:41:19   #
PeterS (a regular here)
 
Sicilianthing wrote:
>>>

Pass
Wrong Answer
Trump has Emergency Powers and Tools he can use against Traitors and seditionists... among other things.

I pray on Friday you’ll get a taste of the first one.

Trump isn't a dictator as much as you think he should be. He has no power to call for the arrest of anyone and if he tries to you are going to see how powerless he really is...

| Reply
Feb 11, 2019 07:26:47   #
JFlorio (a regular here)
 
https://www.washingtonexaminer.com/national-debt-grew-more-slowly-in-fy-2017-under-trump


PeterS wrote:
Then what were you claiming? That was also what your article keyed in on saying that revenue growth was a new record as if that meant something. I was simply pointing out that it didn't. Your article insists on looking at one year as if it means something...keying in on 2016 for Obama instead of looking at the average revenue growth from the trough of the recession to 2016 which was 10.2% yearly not the 3% being focused on. Lastly, debt grew by 17% over 2017 and if he tax cut wasn't the cause would you care to enlighten us to exactly what it was? It certainly wasn't outlays as they increased by only 3.2% so if not the tax cut are you claiming the increase in debt a mystery?
Then what were you claiming? That was also what y... (show quote)

| Reply
Feb 11, 2019 07:54:16   #
buffalo
 
JFlorio wrote:
https://www.washingtonexaminer.com/national-debt-grew-more-slowly-in-fy-2017-under-trump


Trumpy's tax cuts for the wealthy and corporations was not passed until Dec. 2017 and did not go into effect until 2018. The effect of those cuts will not be fully felt until after the 2019 tax season.

"The U.S. Treasury Department publishes a 36 page monthly statement that has all sorts of information about where the Federal government receives its “income” and how it is spent. In the most recent report ending in September 2018 for the full fiscal year 2018 it shows that the federal budget deficit increased from $666 billion in fiscal 2017 to $779 billion in fiscal 2018, an increase of $113 billion or 17%. In the same report corporate tax receipts dropped from $297 billion in fiscal 2017 to $205 billion in fiscal 2018, a decrease of $92 billion or 31%. The $92 billion would account for 82% of the increase in the deficit.

Corporate taxes steady until fiscal 2018

Below are the tax receipts from corporations to the U.S. government over the past five fiscal years. They ranged from $297 billion in fiscal 2017 to $344 billion in fiscal 2015, and were essentially flat in fiscal 2016 and fiscal 2017. However, they had a substantial drop in fiscal 2018.

Fiscal 2014: $321 billion
Fiscal 2015: $344 billion
Fiscal 2016: $300 billion
Fiscal 2017: $297 billion
Fiscal 2018: $205 billion
Math doesn’t work for the tax bill to be “revenue neutral”

http://www.forbes.com/sites/chuckjones/2018/10/31/trumps-additional-budget-deficit-was-largely-due-to-the-corporate-tax-cut/#182661358f71

Corporations were already awash in cash and still are to the tune of $1.5 TRILLION.

That was Forbes...Herr are others analysis of which I am sure you will disagree with because of the source...

http://www.cnbc.com/2018/10/16/trumps-tax-cut-didnt-reduce-the-deficit--despite-his-many-promises.html

http://www.usatoday.com/story/opinion/2018/10/16/blame-republican-tax-cuts-soaring-federal-deficits-column/1657338002/

What happened to trumpy's pledge that the wealthy would not receive tax cuts?
With out of control spending and trump's tax cuts debt continues to pile up.

| Reply
Feb 11, 2019 08:05:15   #
JFlorio (a regular here)
 
IMO there was a lot wrong with these tax cuts but don’t you agree that spending is the main problem?
buffalo wrote:
Trumpy's tax cuts for the wealthy and corporations was not passed until Dec. 2017.

| Reply
Feb 11, 2019 08:07:46   #
buffalo
 
JFlorio wrote:
IMO there was a lot wrong with these tax cuts but don’t you agree that spending is the main problem?


See edited response above...

| Reply
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