With record revenues, we are still running a deficit...

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jackclee lmposted 4 years ago
The GOP controlled house is a disgrace. They deserve to loose their majority. After a great booming economy...and record revenue coming into the treasury...you would think we could finally reduce our debt.
Instead, they kept spending and increased our deficit for years to come.
Why did they think we wound send them back? They are no different than the previous Democrats that only knows how to spend. In fact they are worse. At least the democrats are honest about it. They are the tax and spend party and they admit it. Whereas the GOP run on balanced budget and limited government and tax reduction but they kept spending even during booming times.
If now is not the time to cut spending, I don’t know when.
Paul Ryan, you are a huge disappointment. You should know better and you lie just like all the rest. You say one thing and go ahead and legislate another. Who is paying your salary? I am beginning to wonder.
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  jackclee lmposted 4 years agoin reply to this
  Here is the supporting story...
  https://www.cnsnews.com/news/article/te … 0b-deficit
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  promisemposted 4 years agoin reply to this
  You also can thank the massive tax cut for the skyrocketing deficit.
  
  Republicans aren't very conservative if they increase spending, cut taxes and claim they want a balanced budget all at the same time.
  
  https://thehill.com/policy/finance/4008 … nding-bill
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  jackclee lmposted 4 years agoin reply to this
  No that is the wrong conclusion. The tax cut was necessary. The problem was spending. If we as a country, despite the tax reform, was able to raise record revenue, that is wonderful. It proofs that tax cut works in stimulating the economy... what was wrong is for Congress to continue and spend like a drunken sailor...even when we are in an economic boom. The excuses given during the Obama years was his spending was necessary to get us out of a recession. However, the recession ended in 2010. Yet, spending continued unabated for another 8 years... that is the real problem and both party is at fault.
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  promisemposted 4 years agoin reply to this
  Tax cuts don't reduce revenue? They don't increase deficits?
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  promisemposted 4 years agoin reply to this
  The silence is deafening.
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  jackclee lmposted 4 years agoin reply to this
  Some of us have a life and do not sit at a computer and respond to every posting...
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  promisemposted 4 years agoin reply to this
  Or respond when they are faced with fact and logic.
  
  But they will respond in the meantime to other posts.
  
  You also didn't answer my questions.
  
  Anyone who repeats propaganda from Breitbart and Rush Limbaugh runs face first into fact, logic and reality every time.
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  jackclee lmposted 4 years agoin reply to this
  The answer is a balanced budget ammendment. Force congress to cut their spending. They must live within their means like all American families. We can cut spending and focus on the necessity. There is always going to be a nice project to invest in... but we just don’t have unlimited funds. They must make tough decisions on spending...where to put the money for the most good. Cut the waste and abuse and fraud in medicare and medicaid...
  Limit the welfare system so that only the people in need gets the help and only temporary to get them back on their feet, not the generation of welfare families that devestate human dignity...shall I go on...
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  jackclee lmposted 4 years agoin reply to this
  Promise, when you are not part of the solution...you are part of the problem. You and your democratic enablers are destroying our country from within. Our nation will never be defeated by foreign invaders. It will fall from within with people like the globalist from both side of the aisle and international corporations and big progressive donors like Soros. They love to have the people divided and fighting among ourselves.
  It is said nothing in politics are accidents. Everything you see and read and experience are orchestrated to deceive you. Unfortunately, American voters are falling for it every two years.
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  promisemposted 4 years agoin reply to this
  Yes, that is my sole purpose in life -- to "destroy our country" and give it to "foreign invaders".
  
  Really, everyone who doesn't love Trump or agree with you should be kicked out of the country or placed in concentration camps for being traitors.
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  Ken Burgessposted 4 years agoin reply to this
  
  I knew it.
  
  You finally broke down and admitted it. Good for you.
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  promisemposted 4 years agoin reply to this
  Thank you, Ken. I hope you'll find it in your heart to forgive me.
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  jackclee lmposted 4 years agoin reply to this
  Stop putting words in my mouth. Did you even read what I said. You are not my enemy. You are being lied to...
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  Randy Godwinposted 4 years agoin reply to this
  Your words seemed to give that impression, Jack.
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  jackclee lmposted 4 years agoin reply to this
  There is a difference between calling someone a traitor and someone being fooled to commit treasonable acts. What I am saying and hear me carefully so you won’t mis interpret what I am saying, is that ther are elements in our society who are the rich and powerful who donate to both parties candidates and have control over them. They in turn do their bidding and screw the American people. Most people don’t realize what is happening and assume the other party is at fault when in fact they are both sides of the same coin. People like Promise falls into that category. Instead of holding elected officials responsible for the bad policies they implement, they choose sides and unfortunately, we became a divided nation to the delight of the rich and powerful.
  Can I make it clearer that that?
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  Randy Godwinposted 4 years agoin reply to this
  From our viewpoint Jack, you are the one being fooled into your political beliefs. Works both ways..
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  jackclee lmposted 4 years agoin reply to this
  You can believe that all you want. My views are clear and my conscience are clear and I am a patriot and I support our Constitution. What is going on in Washington DC will make our founding fathers turn over in their graves. Who do you think I stand for?
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  promisemposted 4 years agoin reply to this
  You used the word "you" in your comment 4 times. Among other sentences, you said:
  
  "You and your democratic enablers are destroying our country from within."
  
  So yes, you accused me of destroying our country.
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  jackclee lmposted 4 years agoin reply to this
  Only because you fail to see what they are doing...and you defend them at all cost, including hurting the rest of us. On the other hand, the difference between you and me is, I called out both sides when they do wrong. That is called being consistent. If you want to join me in my crusade to get rid of this corruption, I am all in.
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  jackclee lmposted 4 years agoin reply to this
  Read my original post. Instead of agreeing with me, you choose to attack me the messenger. That is why you are hopelessly lost...
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  promisemposted 4 years agoin reply to this
  Horsepoop. My original post didn't mention you at all. Show me where I attacked you personally.
  
  I simply pointed out that tax cuts increase the deficit.
  
  Talk about putting words in my mouth ...
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  promisemposted 4 years agoin reply to this
  So you admit you did accuse me of trying to destroy the country.
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  promisemposted 4 years agoin reply to this
  If you really called out both sides, which you don't, you would agree with my original post that a massive tax cut leads to higher budget deficits.
  
  Nothing could be more obvious, logical and provable.
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  wildernessposted 4 years agoin reply to this
  If a tax cut leads to additional revenues, how is it obvious that higher deficits result?
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  promisemposted 4 years agoin reply to this
  I believe you misunderstand. Tax cuts don't lead to higher revenues. They lead to lower revenues, which in turn cause higher deficits, especially when spending is going up.
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  wildernessposted 4 years agoin reply to this
  And yet it seems to have done exactly that. Increasing the load on business, discouraging expansion, does not always produce higher tax receipts from either businesses that didn't expand or from employees it didn't hire.
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  promisemposted 4 years agoin reply to this
  Yes, it has done exactly that. Led to lower revenues and a higher deficit.
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  wildernessposted 4 years agoin reply to this
  Did I just see that tax revenues are up? Did someone tell a fib?
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  promisemposted 4 years agoin reply to this
  You saw where on here that tax cuts increase revenue?
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  wildernessposted 4 years agoin reply to this
  "Did I just see that tax revenues are up? "
  
  Tell me, promisem, just where in that simple statement you see that I said tax cuts increase revenue. If all you're going to do is continue to put words in my mouth that were never there, there is nothing more needs said.
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  jackclee lmposted 4 years agoin reply to this
  It is called the Laffer curve...look it up.
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  promisemposted 4 years agoin reply to this
  Cranky again?
  
  Tell me, Wilderness, did you say "If a tax cut leads to additional revenues..."?
  
  You put your own words in your mouth and then forget you said them. Nor did you answer my question about where you saw that tax revenues are going up.
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  jackclee lmposted 4 years agoin reply to this
  That is false and I can proof it.
  The revenue went up after Reagan’s tax cut was implemented.
  It was the spending that went up even more that created the “Reagan deficit”.Congress under rhe control of the Democrats hold the purse string as you well know...
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  jackclee lmposted 4 years agoin reply to this
  Here is chart to proof it...
  
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  promisemposted 4 years agoin reply to this
  That has nothing to do with debt and deficits.
  
  Or with the growth rate of the economy at that time.
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  jackclee lmposted 4 years agoin reply to this
  We were talking about revenue. This graph shows revenue went skyrocket after the Reagan tax cut...
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  jackclee lmposted 4 years agoin reply to this
  The other fact you refuse to acknowledge is that the rich pay most of the taxes in this country. Half of the population do not pay any federal income tax.
  So this whole argument about how the rich is not paying their fair share is bogus.
  What is fair? Not paying income tax is not fair.
  We has a progressive tax system in this country today.
  The rich pay more as they should. However, we don’t want to become like France or sweden when the average middle class pays 60% or higher income tax. That is how they can afford free healthcare and free higher education...
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  promisemposted 4 years agoin reply to this
  Once again, nothing to do with cutting taxes and increasing the deficit.
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  jackclee lmposted 4 years agoin reply to this
  That is not true and history have shown this. In the 1980s, the Reagan tax cuts lead to a huge growth in revenue. However, the Congress spent even more and failed to make the cuts they promised and as a result, the deficits ballooned...that is a statement of fact. You can go and do the research and find the numbers to verify.
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  promisemposted 4 years agoin reply to this
  I read plenty of history, thank you. I suggest you read more yourself. The cuts lead to a massive increase in deficits and debt.
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  jackclee lmposted 4 years agoin reply to this
  Only because Congress spent more...
  Part of the spending was to rebuild the military which later help lead to the fall of the Soviet Union in 1989.
  Peace through strength...
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  Ken Burgessposted 4 years agoin reply to this
  This is why you had 44 Republicans resign from the House, these 'establishment' types like Ryan that stood in the way of making any real progress/change. They chose to spend two years stalling to get anything done, rather than make things happen.
  
  Same for the likes of McCain and Flake, Senators that were 'Republicans' in name only... they served their own greed, and the interests of the corporations and billionaires over the people... sell-outs.
  
  This is why ultimately nothing positive ever gets done for the people... this BS of blaming Dems or Reps is a waste of time... corporations and billionaires buy politicians on both sides of the aisle.
  
  The most positive thing about Trump is we know he isn't owned by the corporations or a billionaire like Soros, Trump is a billionaire and is so egotistical and full of himself he would never be a puppet to some schmuck like Soros. Unlike say, Obama, who could be had for a couple hundred million or less.
  
  This buying of politicians goes on everywhere in this country, Gillum was given millions by Soros, the guy wouldn't have been able to get two nickels to rub together if not for Soros and his friends buying him an entire campaign in his efforts to become Governor of Florida, and now they are fixing the election in Florida to make sure they get their money's worth, more than a week after the election is over and they are still counting ballots in Broward County.
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  Randy Godwinposted 4 years agoin reply to this
  Just how do you know Trump isn't owned by anyone, Ken? Inside info?
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  promisemposted 4 years agoin reply to this
  Yet he gets millions from Russia, such as the exhorbitant overpricing and money laundering of his Florida mansion that a Putin buddy bought from him.
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  crankaliciousposted 4 years agoin reply to this
  Nobody adhered to Keynesian economics more than Ronald Reagan.
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  Don Wposted 4 years agoin reply to this
  While the tax cuts are projected to increase revenue by increasing taxable income, the overall impact increases the deficit:
  
  "The [2017 Tax Cuts and Jobs Act] . . . increases the total projected deficit over the 2018–2028 period by about $1.9 trillion"(1).
  
  In terms of spending, defense received the biggest boost.
  
  "Compared to current law spending caps, the agreement increases defense discretionary funding by $80 billion in Fiscal Year (FY) 2018 and $85 billion in FY 2019 vs. an increase in non-defense domestic discretionary of $63 billion in FY 2018 and $68 billion in FY 2019"(2).
  
  But in general, finding common sense spending cuts wouldn't be a bad idea.
  
  Likewise, scaling back some of the tax cuts would also help.
  
  (Never thought I'd sound more like a fiscal conservative than Republicans in office but that's where we are I guess).
  
  (1) https://www.cbo.gov/publication/53787
  (2) https://www.speaker.gov/general/bipartisan-budget-act
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  wildernessposted 4 years agoin reply to this
  Well, partly anyway. No self respecting conservative would ever suggest a tax hike without a darn good reason. Like WWII, maybe.
  
  Maybe it's because you actually think about it rather than just a gut reaction to that is unlimited funding available for anything we want to do. There is that bit about common sense spending cuts, though...
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  promisemposted 4 years agoin reply to this
  And yet so-called self-respecting conservatives on HP -- actually fake conservatives -- seem fine with the current government cutting taxes, increasing spending and driving up a massive amount of national debt.
  
  I'm starting to wonder who is really a self-respecting conservative. More likely, they just don't think very clearly.
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  jackclee lmposted 4 years agoin reply to this
  Conservatives believe in a limited government. This along with a tax cut will stimulate the private sector and bring in more tax revenue. How does that work? More people working will lead to more people paying taxes and then add to the treasury... This was the laffer curve. It worked in the 1980s and it can still work today. We just need a Congress that can live within its means. They can only spend what they take in. Isn’t that what you and I do at our own households? There is always more projects that deserve funding. However, our resources are limited. The government can only do so much. It is so easy to spend other people’s money...If Congress has to pay out of their own pockets for these programs, they will sing a different tune.
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  Don Wposted 4 years agoin reply to this
  The CBO points to some benefits of the 2017 tax act, such as increasing investment.
  
  But in relation to the deficit, the CBO cleary says the tax act " . . . increases the total projected deficit over the 2018–2028 period by about $1.9 trillion"(1).
  
  (1) https://www.cbo.gov/publication/53787
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  wildernessposted 4 years agoin reply to this
  Last sentence of the link: "That uncertainty implies that the actual outcomes may differ substantially from the projected ones."
  
  I would suggest that the outcomes are already substantially different unless the CBO projected, whenever the actual work was done (published April this year), in unemployment rates at record lows. I highly doubt that was the case.
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  jackclee lmposted 4 years agoin reply to this
  Wilderness, just a warning about Jake. He will lead you down a rabbit hole. I stopped engaging him and respond to his posts long ago...
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  JAKE Earthshineposted 4 years agoin reply to this
  I think you stopped engaging me because I post facts:
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  wildernessposted 4 years agoin reply to this
  LOL No, our Jake will not lead me anywhere, for I fully recognize he is far gone down that rabbit hole. But he DOES make a fair comedic foil.
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  JAKE Earthshineposted 4 years agoin reply to this
  I've never really considered myself a comedian, but the best of them do write material rooted in truth and they always make the best political points:
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  Don Wposted 4 years agoin reply to this
  Phew, thought I was in danger of losing my lefty-liberal-snowflake card for a moment there. Seems I get to keep it a while longer.
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  promisemposted 4 years agoin reply to this
  The same thing happened with Reagan. He cut taxes while increasing spending to stimulate the economy.
  
  It did increase revenue, but not as much as the increase in spending. The result was a massive increase in debt and deficits.
  
  They never learn.
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  jackclee lmposted 4 years agoin reply to this
  It was not Reagan that increased spending..lt was the Democrat controlled Congress.
  He also passed an amnesty bill but wanted to secure our borders. The same Congress agreed and pass the bill and reneg later. That is why, 30 years later, we have the same problem with illegal crossing our borders.
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  Don Wposted 4 years agoin reply to this
  And according to the CBO, the cuts will also result in an increase in the cost of servicing the debt because . . .
  
  " . . . even though the reduction in primary deficits means that less borrowing is necessary, the act is expected to result in higher interest rates on debt, which are projected to more than offset the effects on debt-service costs of the smaller debt. On net, economic feedback from the act raises debt-service costs in CBO’s projections by about $100 billion".
  
  (1) https://www.cbo.gov/publication/53787
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  jackclee lmposted 4 years agoin reply to this
  The CBO has been wrong on almost all projections...why would anyone listen to them.
  The truth is, interest rate was kept too low near 0% for too long...all through the Obama Administration. That created an anomoly of “free money” and now, we are getting back to normal by raising interest rate slowly. Yes, that will cause the federal treasury a lot of money to service these debt. It is now over $22 trillion. At 3% rate, that is 660 billion in interest alone.
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  jackclee lmposted 4 years agoin reply to this
  Don, it is best to put these numbers in personal perspective.
  With the current national debt, that translate into $68,000 owed per person of every man, women and child of our country.
  During the Obama 8 years, our bebt doubled.
  That is to say, he spent so much money, we now owe twice as much as we owed in 2008. Trump in his two years, added to that debt by two trillion which is controlled by the GOP congress. They pass the spending bill which Trump said he would not sign another one if cuts are not in place. We will see...now that the House is divided again.
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  Hxprofposted 4 years agoin reply to this
  Yep. If Congress and Trump won't cut spending, the deficit will explode. Going down the primrose path.
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JAKE Earthshineposted 4 years ago
Time to CUT spending by CANCELLING that 2 trillion dollar corporate welfare tax cut scam that Bozo Trump, Mutt McConnell, con man republican Paul Ryan and the rest of the corrupt republican congress just gave to the filthy rich just months ago:

Cancelling this massive wealth transfer scam to the wealthiest will go a long way toward fixing Trump's growing deficit:
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  wildernessposted 4 years agoin reply to this
  Uhh...you do know that a tax cut is not "spending"?
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  JAKE Earthshineposted 4 years agoin reply to this
  If Bozo Trump's corporate welfare tax cut scam isn't 'spending' WHY did it explode our national debt?
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  wildernessposted 4 years agoin reply to this
  Go back to school, Jake. Perhaps 2nd grade arithmetic would be most appropriate.
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  JAKE Earthshineposted 4 years agoin reply to this
  I've already been to school wilderness, maybe it's your turn:
  
  "Tax cuts, spending to raise U.S. deficit to $1 trillion by 2020, CBO analysis shows"
  
  https://www.chicagotribune.com/news/nat … story.html
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  wildernessposted 4 years agoin reply to this
  "Tax cuts, spending to raise U.S. deficit to $1 trillion by 2020, CBO analysis shows"
  
  That little bolded word makes a difference doesn't it? As does any assumption a tax cut will always result in reduced tax receipts.
  
  Back to school, then, if for reading classes if nothing else. We've been over this one before, where you can't seem to read even your own posts.
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  JAKE Earthshineposted 4 years agoin reply to this
  If you cut taxes, just like Bozo Trump and his republicans did through their corporate welfare tax cut scam giving trillions to the filthy rich, you loose revenue period which explodes the deficit :
  
  It's a pretty simple concept:
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  wildernessposted 4 years agoin reply to this
  Simple, yes. Correct, no. Go back and study your arithmetic some more. 1+1 equals 2, but 1+3 does not.
  
  And for the umpteenth time, allowing people to keep what they earned is not "giving trillions" to anyone. You don't own their wealth, no matter how much you wish you did, and so cannot give it to them.
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  JAKE Earthshineposted 4 years agoin reply to this
  When a government has the right to "Collect TAXES" to pay for the maintenance of a vast continent spanning approximately 3,000 miles in length, then yes, the money is the communities to be used for the common good: The only question is how much of the financial burden for said maintenance is placed on the filthy rich versus all others:
  
  Do we give trillions our wealth to the filthy rich and squeeze our working class and senior citizens by slashing their social security benefits to pay for Steve Mnuchin's corporate welfare tax cut scam as Bozo Trump and the Russian republicans in congress have already done, or do we ease the burden on Americans while shifting a little more of our wealth away from the billionaires?
  
  The Democratic BLUE Wave has spoken in the midterms and the vast majority want to cancel Mr. trump's corporate welfare tax cut scam, healthcare for all, protected social security and medicare and of course a check on this insanely dangerous and neurotic white house until he's removed according to our laws:
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  wildernessposted 4 years agoin reply to this
  Oh good! You realize taxes are for the maintenance of a country 3,000 miles across; to be used for the common good of the nation!
  
  Not to improve the lives of specific individuals. That means we can cut off about a third (or more) of the nations budget and let people keep more of the money they have earned and own. You are always welcome, of course, to contribute more than your share, just as you would force others to do.
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psycheskinnerposted 4 years ago
It doesn't help that there is no Federal budget for disaster relief. It comes directly from deficit.
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  wildernessposted 4 years agoin reply to this
  Budget for it and it will be spent, needed or not. That's how federal budgets work.
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With record revenues, we are still running a deficit...

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