Time Magazine cover story: If He Wins

[Fuzzy1975]

https://www.heritage.org/taxes/commentary/the-numbers-are-trumps-tax-cuts-paid

The Biden White House issued a press release claiming “the Trump tax cuts had added $2 trillion to deficits over a decade.”

But the numbers tell a different story. Despite the political rhetoric, tax revenues are up.

Adjusting the forecasts to actual 2022 dollars, prior to the tax cuts the government projected $40.7 trillion of income tax, corporate tax, and payroll tax revenues between 2018 and 2027. The latest budget forecasts project $41.3 trillion of revenues for that period. Instead of reducing revenues by $1.5 trillion, the latest forecasts suggest tax revenues will come in $570 billion higher than expected.

What about the corporate tax cuts? Surely cutting the corporate tax rate from 35% to 21% must have dramatically reduced corporate tax revenue?

Not according to the government budget numbers.

The government now expects to bring in $3.8 trillion in corporate tax revenues between 2018 and 2027, almost identical to the $3.9 trillion forecasted prior to the tax cuts. Moreover, since taxes don’t exist in a vacuum—and the corporate tax reform propelled higher income growth and therefore higher income taxes and payroll taxes—the corporate tax reform likely paid for itself.

Could the Congressional Budget Office have simply underestimated tax revenues in the pre-tax cuts forecast?

The actual numbers speak to the debt. But hey, as Adrina said, you didn't reference PJ Media.....

 

[BabyBoomer50s]

Do you have to work to receive Medicare? ( Yes you do need to have worked to receive SS)

You ever going to answer this question????

Or just keep shuffling the goalpost around the fact that you supported a tax cut that will in the long run hurt your grandchildren.

Or more succinctly, "fuck them" because I'm selfish.....

lol. You continue to ignore the fact that revenues have not been cut. The US Treasury is collecting the same percentage of national income as it has over the past 50 years. Spending as a percentage of national income has been growing. Not sure why you’re having trouble following along.

To your last question, no, you don’t have to work to receive Medicare but everyone who does work in the US contributes to Medicare via payroll withholdings.

Payroll taxes are not the only source of Medicare revenue. Retirees in the program also pay a premium. Most of us also buy supplemental coverage or Advantage policies. About 46% of Medicare funding comes from the general fund.

 

[BabyBoomer50s]

https://www.heritage.org/taxes/commentary/the-numbers-are-trumps-tax-cuts-paid

The Biden White House issued a press release claiming “the Trump tax cuts had added $2 trillion to deficits over a decade.”

But the numbers tell a different story. Despite the political rhetoric, tax revenues are up.

Adjusting the forecasts to actual 2022 dollars, prior to the tax cuts the government projected $40.7 trillion of income tax, corporate tax, and payroll tax revenues between 2018 and 2027. The latest budget forecasts project $41.3 trillion of revenues for that period. Instead of reducing revenues by $1.5 trillion, the latest forecasts suggest tax revenues will come in $570 billion higher than expected.

What about the corporate tax cuts? Surely cutting the corporate tax rate from 35% to 21% must have dramatically reduced corporate tax revenue?

Not according to the government budget numbers.

The government now expects to bring in $3.8 trillion in corporate tax revenues between 2018 and 2027, almost identical to the $3.9 trillion forecasted prior to the tax cuts. Moreover, since taxes don’t exist in a vacuum—and the corporate tax reform propelled higher income growth and therefore higher income taxes and payroll taxes—the corporate tax reform likely paid for itself.

Could the Congressional Budget Office have simply underestimated tax revenues in the pre-tax cuts forecast?

Don’t waste your time with this guy. I’ve shared CBO numbers with him and he keeps ignoring it. He’s done the same thing with population demographics. Give him data from credible sources and he’ll deflect, deflect, deflect. I’m sure he’s nice guy but his math is fuzzy as fuck.

 

[Fuzzy1975]

lol.

,

You ever going to answer this question????

Or just keep shuffling the goalpost around the fact that you supported a tax cut that will in the long run hurt your grandchildren.

Or more succinctly, "fuck them" because I'm selfish.....

US debt 2017 20. Trillion
US debt 2021 28.5 Trillion

It's hard to claim Trumps tax cut was revenue neutral against facts Boomer, but you give an excellent attempt...

 

[icanhelp1]

No it doesn't. A government's spending has nothing to do with size or number of programs it offers. You can have 1 million programs and spend 1 dollar of funding on each, or 1 program and spend 10 million dollars of funding on that program.

https://www.google.com/imgres?imgur...x/im/m4/7&kgs=83cd8db680c3b63b&shem=abme,trie

 

[icanhelp1]

https://www.google.com/imgres?imgurl=https://thumbs.dreamstime.com/z/talk-to-my-hand-gesture-smiley-emoticon-cartoon-illustration-46948117.jpg&tbnid=chDD85j6w9M&vet=1&imgrefurl=https://www.dreamstime.com/stock-illustration-talk-to-my-hand-gesture-smiley-emoticon-cartoon-illustration-image46948117&docid=QB2ZJwl5pcJ0gM&w=1600&h=1322&hl=en-US&source=sh/x/im/m4/7&kgs=83cd8db680c3b63b&shem=abme,trie

Big government is analogous with too many big expensive government programs. Programs that are not paid for.

 

[Lazaran]

Who drew the line in the sand? Biden, or Obama? Try again Councillor....This is like you trying to pin Jan 6th on Pence. That's how poorly you thought out this defence.

PS I agree Obama fucked the pooch on not settling down Putin back then BTW.

Sorry, but Obama didn’t screw the pooch on Ukraine either.

In 2014, Ukraine was a complete unknown when it came to their true national intentions / inclinations towards a western democratic model of society and government. Corruption was rampant due to the Ukrainians still clinging to the vestiges of the Soviet system. President Obama was clear eyed and pragmatic about the situation with Russia annexing Crimea, and his policies and actions reflected that.



Ukraine was NOT worth starting WWIII over in 2014, and it still isn’t. The same reason that U.S. forces shouldn’t have been involved in 2014 is the same reason they shouldn’t be involved now. - The minute U.S. forces kill Russians to some major strategic effect / advantage, or vice versa, all bets are off.



A steady ratcheting up of support for Ukraine, as they demonstrated their resolve to join the western alliance by resisting Russia politically and on the battlefield, was the prudent approach.



That ^ steady ratcheting up of support was working quite effectively until the corrupt orange traitor and "republicans” blocked the massive aid package for SIX MONTHS, and gave Russia an opening to exploit.

 

[BabyBoomer50s]

,

US debt 2017 20. Trillion
US debt 2021 28.5 Trillion

It's hard to claim Trumps tax cut was revenue neutral against facts Boomer, but you give an excellent attempt...

Keep deflecting. Keep ignoring the CBO data. We’re done here. I’ll leave you to lick your wounds (again).

 

[KeithD]

Leaving Afghanistan was going to be a shit show no matter who pulled out. Be honest and admit your guy set the stage by making a timeline deal with the taliban, and not including the Afghan government by the way, after which they’d ramp the war back up if we’d have stayed

Absolutely right. Leaving Afghanistan was a good move whenever it could be managed. (The major beef I had against Obama in his initial run for the presidency is that he backed beefing up the U.S. presence in Afghanistan). That the withdrawal had had some serious problems was exacerbated by what Trump's administration did with the issue as they were stonewalling the newly elected Biden administration and doing what they could to make the withdrawal as bad as possible.

 

[Lazaran]

Keep deflecting. Keep ignoring the CBO data. We’re done here. I’ll leave you to lick your wounds (again).

https://www.cbpp.org/research/feder...sive-and-ineffective-tax-cuts-a-new-course-is

https://www.cbpp.org/research/feder...d-to-the-rich-expensive-and-failed-to-deliver



BabyBoobs (and ineedhelp1)

 

[BabyBoomer50s]

https://www.cbpp.org/research/feder...sive-and-ineffective-tax-cuts-a-new-course-is

https://www.cbpp.org/research/feder...d-to-the-rich-expensive-and-failed-to-deliver



BabyBoobs (and ineedhelp1)

None of this addresses the fact that CBO data shows that revenue has not dropped but spending has gone up. That’s probably why Biden’s proposal doesn’t fuck with the individual tax rates except the top rate 37%). Even if he hangs around in 2025, that won’t muster enough support among his own party. Too many Dems represent high income libs.

The TCJS individual tax rates are not going away. Be happy.

 

[Lazaran]

None of this addresses the fact that CBO data shows that revenue has not dropped but spending has gone up. That’s probably why Biden’s proposal doesn’t fuck with the individual tax rates except the top rate 37%). Even if he hangs around in 2025, that won’t muster enough support among his own party. Too many Dems represent high income libs.

The TCJS individual tax rates are not going away. Be happy.

Those reports say what they say.



BabyBoobs (and ineedhelp1)

 

[BabyBoomer50s]

Those reports say what they say.



BabyBoobs (and ineedhelp1)

Yes, which doesn’t address the topic at hand but I’m happy you and I get to keep our tax cuts.

 

[Lazaran]

Yes, which doesn’t address the topic at hand but I’m happy you and I get to keep our tax cuts.

BabyBoobs obviously fails to realize that anyone can read those reports and judge for themselves if those tax cuts were a net positive or. a net negative for America and average Americans. (NOT the top 1%)



BabyBoobs

 

[BabyBoomer50s]

BabyBoobs obviously fails to realize that anyone can read those reports and judge for themselves if those tax cuts were a net positive or. a net negative for America and average Americans. (NOT the top 1%)



BabyBoobs

I checked my tax return, my bank account, and my brokerage account. Like the vast majority of taxpayers, net positive.

 

[Lazaran]

https://www.cbpp.org/research/feder...sive-and-ineffective-tax-cuts-a-new-course-is

https://www.cbpp.org/research/feder...d-to-the-rich-expensive-and-failed-to-deliver



BabyBoobs

 

[Fuzzy1975]

Big government is analogous with too many big expensive government programs. Programs that are not paid for.

So, small government doesn't equal less expenditure. Thanks for agreeing on a very simple point.

 

[Fuzzy1975]

Keep deflecting. Keep ignoring the CBO data. We’re done here. I’ll leave you to lick your wounds (again).

I'm not the one deflecting. My ONLY point is Trump's tax cut, the one you keep touting, actually rose Trump's fiscal short falls and added 7 Trillion dollars to the National Debt. A debt that will not be paid for by Baby Boomers, but your grandchildren.

You fucked your grandkids, and don't give a shit....that is my point..*chuckles*

 

[Fuzzy1975]

Sorry, but Obama didn’t screw the pooch on Ukraine either.

I think we went down this road before and decided to agree to disagree.

 

[HisArpy]

2022.

Heritage.

What, no PJ Media?

If Biden told you idiots that the sky was blue, you'd pull up articles from Turley, Gateway Pundit et al that it was green.

Still scripting...

 

[adrina]

Still following me around like a little puppy dog.

 

[Lazaran]

I think we went down this road before and decided to agree to disagree.

I vaguely recall some exchange, but I can’t remember you presenting any specific examples of President Obama’s policies related to Russia-Ukraine that were Ill advised.

I follow this stuff pretty close, and I would be interested in knowing what better tack President Obama could have taken.

Side note:

This is coming from someone who believes President Obama failed in many respects during his presidency, just not on the Russia-Ukraine matter post Russian annexation of Crimea.

 

[HisArpy]

Still following me around like a little puppy dog.

^ still running around the parking lot pissing on everyone tires...

 

[adrina]

Seek help. Your obsession with me is not healthy.

 

[Fuzzy1975]

I vaguely recall some exchange, but I can’t remember you presenting any specific examples of President Obama’s policies related to Russia-Ukraine that were Ill advised.

I follow this stuff pretty close, and I would be interested in knowing what better tack President Obama could have taken.

Side note:

This is coming from someone who believes President Obama failed in many respects during his presidency, just not on the Russia-Ukraine matter post Russian annexation of Crimea.

The simplest description is :Obama showed weakness on Syria so Putin exploited it in Ukraine.
Lesson, don't make threats, unless you mean to back them up. Obama, or his advisers should have known better.