Why cut taxes?

[Uncle Ted]

Seems to be really hard for our politicians GOP'ers and Dims.

FIFY.

[Jeff Lebowski]

Cutting spending is pretty easy, JL... We can stop listening to NYT, Guardian, CNN, Fox, MSNBC, and the other so called news about how terrorists are our worst nightmare and stop fighting these stoopid wars:

If anything, we should be fighting the war on heart disease and cancer.

Seems to be really hard for our politicians.

[Uncle Ted]

How can we do that the Libertarian way? Letting people rot so they get weeded out of the genepool?

By not spending on the money we now spend on defense spending there would be lots of folks that would have extra money would most likely donate to the American Heart Association and the American Cancer Society... Heck, Bill Gates and Jeff Bezos could give them enough just between the two of them.

[frank ryan]

Cutting spending is pretty easy, JL... We can stop listening to NYT, Guardian, CNN, Fox, MSNBC, and the other so called news about how terrorists are our worst nightmare and stop fighting these stoopid wars:



If anything, we should be fighting the war on heart disease and cancer.

How can we do that the Libertarian way? Letting people rot so they get weeded out of the genepool?

[Uncle Ted]

The growth will cover part, but not all of the tax cuts. Duh.

Unless we do something to cut spending, all this means is even more deficit spending.

Cutting spending is pretty easy, JL... We can stop listening to NYT, Guardian, CNN, Fox, MSNBC, and the other so called news about how terrorists are our worst nightmare and stop fighting these stoopid wars:



If anything, we should be fighting the war on heart disease and cancer.

[Walter Sobchak]

Yeah we did, man. Ask Walter... He will tell you and show you the pictures.

Brown children don't count. So you can keep cheerleading for the bombings to continue frank.

USA! USA! USA!

[Jeff Lebowski]

So, basically, even with the economy performing better than previously expected, we'll still see trillion-dollar deficits again soon. Great news, Ted.

The growth will cover part, but not all of the tax cuts. Duh.

Unless we do something to cut spending, all this means is even more deficit spending.

Unfortunately, spending is on track to climb even faster — going from 20.6% of GDP this year to 23.6% by 2028. (The highest spending ever got under Obama was 24.4% of GDP, and the post-War average is 19.3%.)

This is little short of a disgrace, and shows that Republicans love spending taxpayer money as much as Democrats.


In fact, some GOP senators don't even want Trump to use his rescission authority to strip some of the worst spending items out of the bipartisan $1.3 trillion spending monstrosity.


Someone needs to remind these alleged fiscal conservatives that if they can't get control of spending today, it's a virtual guarantee they'll end up agreeing to a "deficit cutting" tax hike tomorrow.

[cowboy]

It's $1.4-$1.7 trillion...over ten years...if nothing changes. In other words, if people invest as normal and the tax rates create no GDP growth, the deficit will increase by around $150 billion. And then they multiply that by the magic number 10 because they need to multiply it by something. That way, tax increases sound better and tax cuts sound worse.

Over a 2-year period, the CBO does a decent job with projections, but beyond that, a monkey throwing a dart could guess the true effect of things better. This is partly because long-term projections are nearly impossible, and partly because a lot of legislation is written to game the 10-year time window.

As I've said before, there is very little correlation between tax rates and tax receipts. Taken to extremes, there obviously would be, but this change isn't extreme. The likely long-term effect is going to depend on how the rate change effects growth because receipts will continue to be a function GDP growth.

https://www.investors.com/politics/e...or-themselves/

Now if we can cut spending by not getting into yet another dumbass war.

Just a reminder that I didn't believe the CBO from the start.

[frank ryan]

Yeah we did, man. Ask Walter... He will tell you and show you the pictures.

That article is from last year man. You're telling me this attack killed kids?

[Uncle Ted]

We didn't kill any Syrian kids. Knock it off.

Yeah we did, man. Ask Walter... He will tell you and show you the pictures.

[frank ryan]

You give the CBO too much credit in their dumbass forecasts... Of course, increasing spending so we can kill Syria's kids for them doesn't help.

We didn't kill any Syrian kids. Knock it off.

[Uncle Ted]

So, basically, even with the economy performing better than previously expected, we'll still see trillion-dollar deficits again soon. Great news, Ted.

You give the CBO too much credit in their dumbass forecasts... Of course, increasing spending so we can kill Syria's kids for them doesn't help.

[Pelado]

https://www.investors.com/politics/e...or-themselves/

Now if we can cut spending by not getting into yet another dumbass war.

So, basically, even with the economy performing better than previously expected, we'll still see trillion-dollar deficits again soon. Great news, Ted.

[Uncle Ted]

Why are we even taxing people at all, right Ted?

Don't get me started, man.

[falafel]

https://www.investors.com/politics/e...or-themselves/

Now if we can cut spending by not getting into yet another dumbass war.

Why are we even taxing people at all, right Ted?