Devastating impact of Trump tax cuts

[BabyBoomer50s]

U.S. sees biggest revenue surge in 44 years despite pandemic

“Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.“


“Though Democrats are hammering the rich for not paying their fair share in taxes, the increase is being driven by levies primarily paid by the well-to-do. For example, corporate tax receipts leapt 75 percent, CBO says. At $370 billion, they easily top where they were immediately before Republicans slashed the corporate rate as part of the Tax Cuts and Jobs Act.”

https://www.politico.com/news/2021/10/12/tax-revenue-surge-pandemic-515792

 

[KeithD]

And the Republicans get to vote not to cover the debt caused by the tax cuts for the superwealthy as well. Isn't that just great?--and very Republican.

 

[Lazaran]

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Billionaires got 54% richer during the pandemic.

Nuff said.

 

[pecksniff]

You do understand, don't you, that the "Laffer curve" is not actually a real thing in economics, and is not an insight that adds anything Keynes did not say?

 

[BabyBoomer50s]

And the Republicans get to vote not to cover the debt caused by the tax cuts for the superwealthy as well. Isn't that just great?--and very Republican.

Did you read the article? Receipts are up 18% biggest one year increase since 1977.

 

[icanhelp1]

Lorazepam complaining about the richest corporate executives increase in wealth, the very ones that bought you the most incompetent president in history. Just the nature of their business models during the pandemic made wealth gains possible. Next year it will be big pharma.

 

[BabyBoomer50s]

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Billionaires got 54% richer during the pandemic.

Nuff said.

So you’re disappointed that more money is being collected from the rich? Interesting.

 

[icanhelp1]

Did you read the article? Receipts are up 18% biggest one year increase since 1977.

KeithD doesn’t comprehend the argument that even with tax cuts revenues increased by 18%.

 

[pecksniff]

Lorazepam complaining about the richest corporate executives increase in wealth, the very ones that bought you the most incompetent president in history.

Actually, I don't think the plutocracy definitely sided with either candidate in 2016 or in 2020.

 

[pecksniff]

So you’re disappointed that more money is being collected from the rich? Interesting.

Of course if their income increases, more tax revenue will be collected from them. That does not mean their income increasing is something the rest of us should accept with equanimity.

 

[Lazaran]

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Once again for the slow readers.

Billionaires got 54% RICHER during the pandemic.

Nuff said.

 

[Bud_Spencer]

.
Once again for the slow readers.

Billionaires got 54% RICHER during the pandemic.

Nuff said.

Did you expect lockdowns to be a boon for small businesses?

 

[icanhelp1]

Did you expect lockdowns to be a boon for small businesses?

Lorazepam is a card carrying Marxist, millionaires and billionaires are in direct conflict with his ethos.

 

[pecksniff]

Did you expect lockdowns to be a boon for small businesses?

Did you expect what's bad for small business to be bad for big?

 

[Lazaran]

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The proof is in the pudding. The rich got 54 % richer.

Now it's time to Tax The Rich to fund President Biden's build back better plan.

Nuff said

 

[ll74]

It's great for the people who get them permanently.

The rest of us only received a temporary bump so we could blame Democrats for tax hikes that were never imposed.

 

[icanhelp1]

Perhaps you should study history.

The seventies brought us oil shortages which resulted in high gas prices and lines at the pumps, two digit inflation, sky high interest rates, high unemployment while pumping money into the economy causing a shrinking economy. Carter answered with an aggressive spending program which made things even worse. Then went crazy with energy efficiency. Just like Biden’s green new deal. Biden is a Carter clone and the only remedy is for him to resign.

I was around during the Carter years, the similarities are frightening.

Sound familiar

 

[Lazaran]

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The rich got 54% richer.

The climate has gotten worse.

Tax The Rich to fund President Biden's Build Back Better plan.

Nuff said.

 

[ll74]

Perhaps you should study history.

The seventies brought us oil shortages which resulted in high gas prices and lines at the pumps, two digit inflation, sky high interest rates, high unemployment while pumping money into the economy causing a shrinking economy. Carter answered with an aggressive spending program which made things even worse. Then went crazy with energy efficiency. Just like Biden’s green new deal. Biden is a Carter clone and the only remedy is for him to resign.

I was around during the Carter years, the similarities are frightening.

Sound familiar

Sorry to tell you, but he's not going to resign.

But keep on hoping.

Bet you hated it when Obama and Carter didn't resign either.

 

[pecksniff]

Perhaps you should study history.

The seventies brought us oil shortages which resulted in high gas prices and lines at the pumps, two digit inflation, sky high interest rates, high unemployment while pumping money into the economy causing a shrinking economy. Carter answered with an aggressive spending program which made things even worse. Then went crazy with energy efficiency. Just like Biden’s green new deal. Biden is a Carter clone and the only remedy is for him to resign.

I was around during the Carter years, the similarities are frightening.

Sound familiar

Not really. The stagflation of the 1970s was caused by a rising cost -- of imported petroleum -- that was external to the national economy and beyond the control of American public policy. No such factor is now in play.

 

[YDB95]

Not really. The stagflation of the 1970s was caused by a rising cost -- of imported petroleum -- that was external to the national economy and beyond the control of American public policy. No such factor is now in play.

Not to mention Carter's response to the the crisis, encouraging people to turn the heat down and wear a sweater, was the very epitome of personal responsibility and careful budgeting - two things the Republicans always say they stand for. The crucial part of that being they just say they stand for it.

 

[pecksniff]

And, "Carter answered with an aggressive spending program which made things even worse" is not historically true. Such spending as there was played no role in causing the 1980 recession.

 

[Cubantripod]

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Billionaires got 54% richer during the pandemic.

Nuff said.

Because Dem lockdowns allowed big businesses to remain open while forcing small businesses to close and go under.

 

[ll74]

Because Dem lockdowns allowed big businesses to remain open while forcing small businesses to close and go under.

Trump was President during lockdowns in both Rep and Dem lockdowns.

 

[YDB95]

Because Dem lockdowns allowed big businesses to remain open while forcing small businesses to close and go under.

Was it Dem lockdowns, or four decades of the Republicans deregulating everything they possibly could while cutting federal programs to the bone? There was and is help available for small businesses, but - here as everywhere - the Republicans sabotaged it in any way they were able to.