Tax Cuts Are Primarily Responsible for the Increasing Debt

Saturday, October 05, 2024

Without the Bush and Trump tax cuts, debt as a percentage of the economy would be declining permanently.

Posted by danni at 10:32 AM | 9 COMMENTS | permalink | Comment on This Entry |

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No shitake.

#1 | Posted by Nixon at 2024-10-04 12:13 PM | Reply

Just remember...Clinton left office with a budget surplus.

W said he was going to kill the surplus and did just that AND spent trillions in the illegal Iraq war.

Obama reduced the deficit W left, but it was already structural thanks to W.

Sh*tler increased the deficit EVERY YEAR he was in office then used the pandemic to transfer hundreds of billions to the 1% through PPP loans and ERC credits.

Now he wants to cut taxes for the 1% and corporations even more and "pay" for it with tariffs that will cost the average family THOUSANDS in extra taxes per year.

#2 | Posted by Nixon at 2024-10-04 12:19 PM | Reply | Newsworthy 1

What a crock. If anyone can show tax cuts resulting in a reduction of tax revenue then I will buy in.

Spending is absolutely out of control.

#3 | Posted by BellRinger at 2024-10-04 01:18 PM | Reply | Funny: 1

If anyone can show tax cuts resulting in a reduction of tax revenue

How could they not?

#4 | Posted by REDIAL at 2024-10-04 01:36 PM | Reply

" If anyone can show tax cuts resulting in a reduction of tax revenue "

Stephen Moore, the former WSJ editorial board member, and the moron behind "tax cuts increase revenue", was using NOMINAL dollars when he made that proclamation, a method that'll earn an "F" on an Econ 101 midterm.

Basically, if revenue was $1 trillion, and four years later it was $1 trillion AND ONE, that's the proof!!!

No accounting for inflation or population growth. None.

Hence, only morons believe that axiom.

#5 | Posted by Danforth at 2024-10-04 03:31 PM | Reply | Newsworthy 2

What a crock. If anyone can show tax cuts resulting in a reduction of tax revenue then I will buy in.

Spending is absolutely out of control.

#3 | Posted by BellRinger at 2024-10-04 01:18 PM | Reply

You aren't even room temperature smart. The brownback experiment proves this one. What a Dummkopf Jeff is.

#6 | Posted by LauraMohr at 2024-10-04 03:36 PM | Reply | Newsworthy 1

What a crock. If anyone can show tax cuts resulting in a reduction of tax revenue then I will buy in.

Spending is absolutely out of control.

#3 | Posted by BellRinger

W and the GOP doubled the budget and slashed taxes (our nation's income).

Obama slashed deficits by 2/3rds. Trump and the GOP - all by themselves - slashed our income ... again.

Reduce income and increase spending and most households would eventually end up in bankruptcy court.

It's a simple concept.

#7 | Posted by AMERICANUNITY at 2024-10-05 12:01 PM | Reply | Newsworthy 2

It's called strategic debt accumulation. Look it up. It's a great way to force bipartisan cuts in spending. I like it. I have an additional 300K in my 401K because of it but it is a cynical destructive policy which breeds nihlism.

#8 | Posted by danS at 2024-10-05 01:31 PM | Reply

#8 | Posted by danS

"Starve The Beast" has been the GOP's plan.

BTW, Trump tripled Obama's defiits back to $1.5 trillion a year and added more debt than any president in U.S. history. This in the middle of the economy Obama rescued with no help from the GOP. The economy he's always suggesting was his own doing. His tax cuts did nothing but add more debt and increase deficits. It's elementary school-level math; reduce income and expect the bills will all be paid.

ALL the Bush and Trump tax cuts did is create massive debt and systemic deficits.

#9 | Posted by AMERICANUNITY at 2024-10-05 02:59 PM | Reply