Thanks to Trump's tax cuts, the U.S. tax-to-GDP ratio falls 2.5% from 2017 to 2018

[WTF]

http://www.msn.com/en-us/money/marke...z&ocid=U221DHP

While the tax cuts unsurprisingly shrank federal tax revenue, Trump's promises that the cut would stimulate business investment and economic growth have not yet materialized.

Only a fraction of the 2.9% economic growth in 2018

If I remember correctly lustylad and bambino bet me that GDP would be 3% or better in 2018 or some such shit. Bugged the fuck out of me if memory serves

[The_Waco_Kid]

Originally Posted by WTF

http://www.msn.com/en-us/money/marke...z&ocid=U221DHP

While the tax cuts unsurprisingly shrank federal tax revenue, Trump's promises that the cut would stimulate business investment and economic growth have not yet materialized.

Only a fraction of the 2.9% economic growth in 2018

If I remember correctly lustylad and bambino bet me that GDP would be 3% or better in 2018 or some such shit. Bugged the fuck out of me if memory serves

you realize that gdp growth for 2018 was 2.9%?

"A better-than-expected performance in the fourth quarter pushed gross domestic product up 2.9 percent for the year, just shy of the goal, Commerce Department data showed on Thursday."

so it was a tenth of a percent off from being 3.0. weren't you the asshat claiming the economy would tank?

doesn't look like it.


thank you illegal poster!

[friendly fred]

taxes suck

[Tiny]

I saw that. Note from the chart that Ireland, the USA and Switzerland have lower ratios of tax to GDP than other prosperous countries. Kick out Norway, which is drowning in oil wealth, and Luxembourg, which is a tiny place, and those three countries have much higher per capita income (adjusted for purchasing power) than other members of the OECD.

This is something to celebrate. Our private sector is larger relative to government so we’re better off than the others.

Now if we could just get the federal politicians to cut back on the spending

[SpeedRacerXXX]

Originally Posted by The_Waco_Kid

you realize that gdp growth for 2018 was 2.9%?

"A better-than-expected performance in the fourth quarter pushed gross domestic product up 2.9 percent for the year, just shy of the goal, Commerce Department data showed on Thursday."

so it was a tenth of a percent off from being 3.0. weren't you the asshat claiming the economy would tank?

doesn't look like it.


thank you illegal poster!

A 2.9% GDP is very good. Most economists say a GDP over 2.0% is good. But Obama haters criticized him for not hitting 3.0% while in office, even though the GDP hit 2.9% in 2015. Not good enough. Trump promised a GDP of at least 3.0% and has not delivered even with a massive tax break given to corporations. The GDP for 2019 will be in the low 2s and a little bit lower in 2020 and 2021.

"U.S. GDP growth will slow to 2.2% in 2019 from 3% in 2018. It will be 2% in 2020 and 1.9% in 2021. That's according to the most recent forecast released at the Federal Open Market Committee meeting on September 18, 2019."

Not at all bad but not what was promised by Trump.

[rexdutchman]

^^^ yup however congress not doing anything to help is causing issues

[Levianon17]

Originally Posted by SpeedRacerXXX

A 2.9% GDP is very good. Most economists say a GDP over 2.0% is good. But Obama haters criticized him for not hitting 3.0% while in office, even though the GDP hit 2.9% in 2015. Not good enough. Trump promised a GDP of at least 3.0% and has not delivered even with a massive tax break given to corporations. The GDP for 2019 will be in the low 2s and a little bit lower in 2020 and 2021.

"U.S. GDP growth will slow to 2.2% in 2019 from 3% in 2018. It will be 2% in 2020 and 1.9% in 2021. That's according to the most recent forecast released at the Federal Open Market Committee meeting on September 18, 2019."

Not at all bad but not what was promised by Trump.

What everyone fails to realize is the 3% GDP wasn't just a promise by Trump it was also contingent upon everyone in congress working together towards a common goal. That common goal was shattered with the Democrats insatiable desire to over throw this administration through impeachment. Nothing is getting done the majority of Republicans are fighting to keep this administration afloat and the Democrats are desperately trying to sink it. The end result is the American people suffer in the long run.

[bambino]

Only old, fat lazy morons would complain about tax cuts. Like the OP.

[oeb11]

L17 - +1

[Chung Tran]

Originally Posted by Levianon17

it was also contingent upon everyone in congress working together towards a common goal. That common goal was shattered with the Democrats insatiable desire to over throw this administration through impeachment.

there never was a common goal. Republicans bent over backwards to thwart any and everything Obama sought to do. you can couch it as impeachment crazed, but it's really a simple tit-for-tat response for what happened before.

[Tiny]

Originally Posted by WTF

If I remember correctly lustylad and bambino bet me that GDP would be 3% or better in 2018 or some such shit. Bugged the fuck out of me if memory serves

Well, as someone else already said, 2.9% is awfully close to 3%. Certainly Trump's tax cuts helped us get there. Who knows, if he hadn't raised taxes with the trade wars maybe we could have gotten to 3% in 2019.

[HoeHummer]

Originally Posted by bambino

Only old, fat lazy morons would complain about tax cuts. Like the OP.

Looks like yous forgot the bet, Big Jelly. Maybe the interchangeable parts in coal country can start a gofundme page to pays it off.

[Tiny]

Originally Posted by Levianon17

What everyone fails to realize is the 3% GDP wasn't just a promise by Trump it was also contingent upon everyone in congress working together towards a common goal. That common goal was shattered with the Democrats insatiable desire to over throw this administration through impeachment. Nothing is getting done the majority of Republicans are fighting to keep this administration afloat and the Democrats are desperately trying to sink it. The end result is the American people suffer in the long run.

Originally Posted by Chung Tran

there never was a common goal. Republicans bent over backwards to thwart any and everything Obama sought to do. you can couch it as impeachment crazed, but it's really a simple tit-for-tat response for what happened before.

Think of the bright side. As WTF has pointed out, when they're at each others throats and when government is split so neither party controls both Congress and the Presidency, the politicians are less inclined to spend us into oblivion.

[SpeedRacerXXX]

Originally Posted by Levianon17

What everyone fails to realize is the 3% GDP wasn't just a promise by Trump it was also contingent upon everyone in congress working together towards a common goal. That common goal was shattered with the Democrats insatiable desire to over throw this administration through impeachment. Nothing is getting done the majority of Republicans are fighting to keep this administration afloat and the Democrats are desperately trying to sink it. The end result is the American people suffer in the long run.

The impeachment process has zero impact on the GDP. The tax reform package had a great impact on the GDP in 2018 but that impact is dying out. Companies have not invested in infrastructure as much as anticipated. Trump's tariffs have negatively impacted the GDP.

"The projected slowdown in 2019 and beyond is a side effect of the trade war, a key component of Trump's economic policies."


https://www.thebalance.com/us-economic-outlook-3305669

"Consumer spending was still the mainstay of economic growth in the third quarter. GDP grew at a 2.1% annual rate, about the same as the second quarter’s 2% rise. Home construction contributed to growth for the first time in seven quarters. Government spending also contributed. However, business investment in equipment and structures was weak, though inventories improved a bit. Businesses are still concerned about the slow global economy and declining international trade.

We do not expect a recession next year, but consumers are carrying a heavy load. If the weakness in business spending and exports starts to affect employment, then consumers may start to curb their spending."

https://www.kiplinger.com/article/bu...-forecast.html

So you blame Democrats for the falling GDP. Do you blame Republicans for Obama's failure to hit a 3.0% GDP during his time in office? Or is it a 1-way blame?

[Levianon17]

Originally Posted by Chung Tran

there never was a common goal. Republicans bent over backwards to thwart any and everything Obama sought to do. you can couch it as impeachment crazed, but it's really a simple tit-for-tat response for what happened before.

Bullshit, Obama didn't go through a fraction of what Trump has endured. The Democrats even attack his young son. It's not "tit for tat", it's more like Trump won and he wasn't suppose too.