How are we going to pay for all this shit?

[WTF]

Originally Posted by Why_Yes_I_Do

Or we could bust out ye olde war drum and beat heck out of it.
Oh wait...

It is going to be a shellacking just like in 2018

[bambino]

Originally Posted by WTF

It is going to be a shellacking just like in 2018

Not since Odumber


https://www.quorum.us/data-driven-in...ce-eisenhower/

[WTF]

Originally Posted by bambino

Not since Odumber


https://www.quorum.us/data-driven-in...ce-eisenhower/

Yea you same Tea nutters that fell for that debt problem that was never solved will probably show up in numbers once again.

You are the white slaves. Be proud.

[bambino]

Originally Posted by WTF

Yea you same Tea nutters that fell for that debt problem that was never solved will probably show up in numbers once again.

You are the white slaves. Be proud.

That makes sense.

[WTF]

Originally Posted by bambino

That makes sense.

It means the same dipshuts who fell for Republican Tea Party caca are now falling in line again to elect a bunch of pro Trump trailed Park politicians.

Same group of gullible voters falling for another Pope dream.

You did not address the debt and I'm not even sure wtf you are running on this go round.

[bambino]

Originally Posted by WTF

It means the same dipshuts who fell for Republican Tea Party caca are now falling in line again to elect a bunch of pro Trump trailed Park politicians.

Same group of gullible voters falling for another Pope dream.

You did not address the debt and I'm not even sure wtf you are running on this go round.

If you could compose a post above the third grade level I would consider it!!!

Dipshut?

[lustylad]

Originally Posted by bambino

If you could compose a post above the third grade level I would consider it!!!

Dipshut?

Trailed park?

Pope dream?



Even when munchy is sloppy drunk, his posts are more coherent than wtf!!

[bambino]

Originally Posted by lustylad

Trailed park?

Pope dream?



Even when munchy is sloppy drunk, his posts are more coherent than wtf!!

Yeah well, his WTF handle lost it’s fastball years ago. If it ever had one. Mebbe his Bobby Magee or TechPapi was better?

[lustylad]

Originally Posted by Tiny

Damn it WTF... You're smart. You've got lots of brains. Please use them.

First, the reason the deficits disappeared in the late 90's was because Clinton and a Republican Congress increased spending at a lower rate than GDP growth.

Second, they didn't raise taxes in the late 90's. They cut them. The capital gains tax rate and tariffs went down. And what happened? Tax collected from the capital gains tax went up, from 66 billion in 1996 to 127 billion in 2000.

President Biden, and I believe you as well, want to increase the rate on long term capital gains and dividends to 43.4%. As we've discussed here and elsewhere, the Congressional Budget Office, Joint Committee on Taxation, Tax Foundation, and Wharton Budget Modeling agree that would REDUCE the revenues collected by the government, compared to a lower rate. You raise the capital gains tax rate too high and people don't realize capital gains. They don't sell. This also would cause investors and businesses to allocate capital inefficiently. Why sell the buggy whip company and invest in automobiles if the government's going to take 43.4% of your gain if you live in Texas, or 56.7% in California?

The same principle applies to dividends. Raise the tax too high and corporations won't be as inclined to pay dividends. Instead of using an appropriate amount of free cash flow to reinvest in the business, and returning the rest to investors to allocate to more dynamic businesses, they hang onto more of it. Or all of it.

As to the other tax I addressed in my post, the corporate income tax, I've posted on why it was too high, how it made some companies in the U.S. less competitive, and why lowering it played a part in boosting employment and wages. You however, regardless of the evidence that's presented, won't be swayed, so there's no use continuing to argue.

And what exactly was that 8 trillion you mentioned spent on? How much of it was flushed down the toilet? I didn't see any of it. I'll happily pay higher taxes if asked by the State of Texas or my local government. They're at least halfway efficient, and I can see value for my tax dollars -- highways, city services and the like. The power of the purse should be closest to the people. The politicians and bureaucrats in Washington, D.C., take our money and squander a big part of it.

At this point in time, the reduction in cumulative tax collection as a result of the Republican tax cuts in 2017 isn't much more than $1 trillion, if even that. You keep insisting on blaming all the incremental debt from COVID relief, and whatever stupid crap the politicians decide to fund, on the tax cuts.

I'd a lot rather see the money stay in the private sector, invested in businesses and the like, instead of drained off by the Feds in the form of higher taxes.

They need to cut the spending.

Bravo, tiny! Bravo, tiny!

A "smart person with brains" wouldn't stubbornly cling to stupid arguments in the face of overwhelming contrary evidence.

As you noted, the (revenue-reduction) cost of the 2017 tax cuts was estimated at $1 trillion by the non-partisan Congressional Budget Office. What you failed to add is - that's a cumulative estimate over 10 years. Which means the annual cost is roughly $100 billion. That's small and insignificant by almost any comparison. In 2018, our GDP was $20.6 trillion and federal spending was $4.1 trillion. So the cost of the tax cut would have been equivalent to 0.5% of GDP or 2.4% of the federal budget.

Since the pandemic began two years ago, Congress has approved a whopping $5.7 trillion in "emergency" relief. Keep in mind this is IN ADDITION TO the regular federal budget of $4.5-$5.0 trillion a year. And you're totally correct when you say it looks like much of the so-called "relief" money has been pissed away on waste, fraud, corruption and abuse. Like bailing out blue states for decades of fiscal profligacy. Or setting up slush funds for favored dim-retard constituencies like the teachers union. When dim-retards say "never let a serious crisis go to waste" what they really mean is never let a serious crisis go by without opening the floodgates to a gusher of WASTE!

Anyway, I digress. The point is we've shoveled out nearly $2.9 trillion a year in EXTRA spending since the pandemic started. That's been added directly to the national debt. It doesn't take a math genius to see this is 29 TIMES as much as the "cost" of the 2017 tax cuts. For WTF to suggest the tax cut blew up the deficit is like my blaming air pollution on his farting.

[bambino]

Originally Posted by lustylad

Bravo, tiny! Bravo, tiny!

A "smart person with brains" wouldn't stubbornly cling to stupid arguments in the face of overwhelming contrary evidence.

As you noted, the (revenue-reduction) cost of the 2017 tax cuts was estimated at $1 trillion by the non-partisan Congressional Budget Office. What you failed to add is - that's a cumulative estimate over 10 years. Which means the annual cost is roughly $100 billion. That's small and insignificant by almost any comparison. In 2018, our GDP was $20.6 trillion and federal spending was $4.1 trillion. So the cost of the tax cut would have been equivalent to 0.5% of GDP or 2.4% of the federal budget.

Since the pandemic began two years ago, Congress has approved a whopping $5.7 trillion in "emergency" relief. Keep in mind this is IN ADDITION TO the regular federal budget of $4.5 trillion. And you're 100% correct when you say it looks like much of it has been pissed away on waste, fraud, corruption and abuse. Like bailing out blue states for decades of fiscal profligacy. Or setting up slush funds for favored dim-retard constituencies like the teachers unions. When dim-retards say "never let a serious crisis go to waste" what they really mean is never let a serious crisis go by without opening the floodgates to a gusher of WASTE!

Anyway, I digress. The point is we've shoveled out nearly $2.9 trillion a year in EXTRA spending since the pandemic started. That's been added directly to the national debt. It doesn't take a math genius to see this is 29 TIMES as much as the "cost" of the 2017 tax cuts. For WTF to suggest the tax cut blew up the deficit is like my blaming air pollution on his farting.

I’m pretty sure WTF sharts now.

[lustylad]

Originally Posted by WTF

Comparing Turkey to the the United States is like comparing Lightening (sic) to a Lightening (sic) Bug.

Heh. Heh. Heh. I'm laughing at your spelling, not your joke.

You three are looking to overcorrected (sic). Heh, heh again. It seems many of you have forgotten we are slowly working our way out of a global shutdown. Slowly? Our real GDP grew by 5.7% last year. That's the fastest growth we've clocked since 1984 under your beloved Ronnie. You seem to forget that other countries have not yet come out of lockdown which is creating a backlog and thus inflated pricing. ??? Lockdowns fuel inflation? How does that work? That at some point will be no more. So I disagree with you three on the 50 point rate hike. At least you got the direction right. Plus I'm in good dividend paying stocks and plan to stay in them long term. Good to know. Is Mucus McLame advising you?

FYI...the reason besides Perot that Clinton and a Republican Congress agreed to slow spending was because Reagan had run up massive spending and debt.

Unelected Ross Perot slowed federal spending? Man, that little Texarkana varmint was clever af. But thanks for giving Reagan credit for handing Clinton a "peace dividend"!

You might need to brush up on your tax cut history and the phrase "starving the beast".

https://www.theatlantic.com/politics...e-plan/548720/

Bambino is right. Your fastball, insofar as you ever had one, is now a weak lob. But don't fret. Maybe you can still toss 'em in the Home Run Derby.

[WTF]

Originally Posted by lustylad

For WTF to suggest the tax cut blew up the deficit is like my blaming air pollution on his farting.

I blame air pollution on you talking all that shit about being an economist!

[WTF]

Originally Posted by lustylad

Lockdowns fuel inflation? How does that work


.

Well Brokeback....if a country you are getting supplies from is in lockdown mode and you are having trouble getting those supplies say in the auto industry....it can really effect sticker price in an inflationary way.

But you knew that right...

[The_Waco_Kid]

Originally Posted by WTF

I blame air pollution on you talking all that shit about being an economist!

somewhere out there is a tree whose single purpose on earth is to replace the oxygen you waste. go find it and apologize.


BAAHHHHAAAAAAA

[WTF]

Originally Posted by lustylad

Unelected Ross Perot slowed federal spending? Man, that little Texarkana varmint was clever af. But thanks for giving Reagan credit for handing Clinton a "peace dividend"!
.

Perot was the one hammering it home to the American public. Of course without Ronnie blowing up deficits....it would not have caught traction but Ronnie had and the Newt Gingrich GOP was swept into office....and the rest is history.

So that was Ross Perot's contribution....huge influence in the debates.