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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 11, 2019 08:13:01   #
Canuckus Deploracus Loc: North of the wall
 
buffalo wrote:
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.
Trumpy's tax cuts for the wealthy and corporations... (show quote)


Agreed Buffalo...
Without reining in the spending, the tax cuts are not as effective as they should be...

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Feb 11, 2019 08:20:45   #
JFlorio Loc: Seminole Florida
 
Exactly why I believe there should be a flat rate on individual income and a flat rate on corporate net profits. No write offs or deductions. If I make 10 x more than someone else I pay 10x the tax.
Canuckus Deploracus wrote:
Agreed Buffalo...
Without reining in the spending, the tax cuts are not as effective as they should be...

Reply
Feb 11, 2019 08:23:06   #
buffalo Loc: Texas
 
Canuckus Deploracus wrote:
Agreed Buffalo...
Without reining in the spending, the tax cuts are not as effective as they should be...


Increasing military spending and calling for cuts to Social Security and Medicare (which are funded by specific taxes) and Medicaid, i.e. throwing the elderly, poor and disabled under the proverbial bus, so that the military industrial corporations and their bankster can continue to profit BILLIONS in tax dollars is, IMO, WRONG!

The wealthy and corporations did not need tax cuts. They were already awash in cash and are even more now. The middle and working class were lied to about a tax cut but they need higher WAGES not tax cuts.

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Feb 11, 2019 08:29:16   #
Canuckus Deploracus Loc: North of the wall
 
JFlorio wrote:
Exactly why I believe there should be a flat rate on individual income and a flat rate on corporate net profits. No write offs or deductions. If I make 10 x more than someone else I pay 10x the tax.


I am behind that...
I think you mean you pay 10x what they pay on tax....

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Feb 11, 2019 08:30:44   #
Canuckus Deploracus Loc: North of the wall
 
buffalo wrote:
Increasing military spending and calling for cuts to Social Security and Medicare (which are funded by specific taxes) and Medicaid, i.e. throwing the elderly, poor and disabled under the proverbial bus, so that the military industrial corporations and their bankster can continue to profit BILLIONS in tax dollars is, IMO, WRONG!

The wealthy and corporations did not need tax cuts. They were already awash in cash and are even more now. The middle and working class were lied to about a tax cut but they need higher WAGES not tax cuts.
Increasing military spending and calling for cuts ... (show quote)


They need a solution to inflation...
Higher wages or tax cuts do little to solve the problem, Unless inflation is addressed...

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Feb 11, 2019 08:45:43   #
JFlorio Loc: Seminole Florida
 
Correct
Canuckus Deploracus wrote:
I am behind that...
I think you mean you pay 10x what they pay on tax....

Reply
Feb 11, 2019 08:53:46   #
lpnmajor Loc: Arkansas
 
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/


Then what IS the cause of those record deficits?

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Feb 11, 2019 08:56:38   #
JFlorio Loc: Seminole Florida
 
Spending. Lots.
lpnmajor wrote:
Then what IS the cause of those record deficits?

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Feb 11, 2019 09:01:37   #
buffalo Loc: Texas
 
lpnmajor wrote:
Then what IS the cause of those record deficits?


Decades of military spending so the US can conduct continual, illegal, unConstitutional, immoral warmongering. So much taxpayer money thrown at military spending that the Dept. of Defense cannot even account for $3 TRILLION of that taxpayer money.

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Feb 11, 2019 09:09:12   #
Sicilianthing
 
PeterS wrote:
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...


>>>

I didn’t say arrests I said use the tools to make it happen like an AG who’s not a t*****r.

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