A Rising Tide Still Lifts All Boats

[AlexBailey]

Originally Posted by AlexBailey
Hey Dawn, Trump's tax measures didn't take effect until 2018, you posted the Obama numbers. Thanks for making the point.



You seem inordinately incensed over economic policies that have only recently taken effect? Exactly what is it that's troubling you?

By the way, define 'inordinately incensed' and explain where I demonstrate that?

Lol.

 

[DawnONight]

...
What happened to true economic conservatives?

Excellent point!

There are still some out there. Scott Walker took Wisconsin from his Democrat predecessor's $3.6 billion deficit and turned it into a consistent annual surplus. He ran for president on that record, but Trump beat him in the primary. Then, in part because he ran for president while still governor -- Wisconsinites don't like divided loyalties -- he got voted out in Wisconsin.

Walker did it in Wisconsin by lowering taxes (which, consistent with the Laffer Curve, actually increased state revenue), decreasing business regulation, and curbing spending growth. Trump has done the first two federally, with similar results on federal revenue. Unfortunately, he has shown no interest in reining in federal spending.

 

[dan_c00000]

Scott Walker took Wisconsin from his Democrat predecessor's $3.6 billion deficit and turned it into a consistent annual surplus.

We've been over this racist dawn and you lied about it and got owned.

"Gov. Scott Walker’s proposed budget would leave a "structural deficit" of about $1 billion, according to the nonpartisan Legislative Fiscal Bureau."

Poor lying racist dawn keeps bringing up old, racist lies and keeps getting owned.

 

[BizzaBizza]

https://i.imgur.com/53o5bMq.gif

 

[DawnONight]

We've been over this racist dawn and you lied about it and got owned.

You're right that "we've been over this," but your confused as to who had the facts on her side.

Oh, dan_c00000, when it comes to showing Leftist stupidity, you're the gift that keeps on giving!

First, look at the date of the article you cite regarding your claim for when Walker "left office." It is from February 2018, almost a full year before he left office.

Second, the article you site had to use a different accounting approach than that customarily used by government in order to find a deficit.

Now, let's look at some actual data from the end of Walker's tenure:

Gov. Scott Walker leaves... finishing his second term by posting a budget surplus for the eighth year in a row. Wisconsin ended last fiscal year with a $588.5 million surplus and will start 2018-2019 with the second-highest opening balance since 2000.​

B.Blankley, Walker Ending Term With $588.5 Million Budget Surplus, Washington Free Beacon (Jan. 6, 2019).

Highlights of the state’s financial condition include:

• Wisconsin has ended every year with a budget surplus under Governor Walker. The state ended fiscal year 2018 with a positive balance of $588.5 million based on cash accounting.

• The state deposited $33.1 million into the state Budget Stabilization Fund. The balance is now $320.1 million. This is the largest balance in state history and 190 times larger than the balance in fiscal year 2010.

• General fund tax collections were $18.4 million above estimates. The growth was $626 million or 4 percent over last year. Individual income taxes were $99.2 million higher than estimated.

• State expenditures were $174 million less than budgeted in 2018.​

Gov. Scott Walker: Wisconsin wraps up 2017-18 fiscal year with $588M surplus WMTV-15 (Dec 21, 2018).

Third, it's not me saying "Walker collected $8 billion 'more' in taxes"; it is Politifact.

The budget battle is raging in Madison, where new Gov. Tony Evers is seeking to make his mark on the state and Republicans are making the case that fiscal policies enacted under all-GOP control are worth continuing.

State Rep. John Nygren, R-Marinette, co-chair of the powerful budget-writing Joint Finance Committee, hammered that point in a string of tweets on Feb. 12, 2019, including one that claimed Wisconsin’s financial outlook "is the strongest in a generation."

But it was a tweet later in the string that caught our eye:

"Over the last eight years, we’ve shown that even though we’ve cut … taxes by $8 billion, revenues continue to grow," Nygren said.

Revenue generally comes from, well, taxes, so can one go up while the other goes down that much?

Let’s see if the numbers add up....

Overall from 2010-’11 to 2017-’18, general fund tax collections rose from $12.9 billion to $16.1 billion. And they’re expected to rise to $16.6 billion in 2018-’19 according to the latest fiscal bureau estimate.

So, yes, revenues have grown....

The tally shows $4.8 billion in reductions to income and franchise taxes and a $3.6 billion reduction in property taxes compared to the 2010-’11 baseline....

The revenues portion of the statement is clearly accurate.

The tax cut element is a bit more nuanced, but the changes Republicans made did result in a net savings of $8 billion for taxpayers compared to if the 2010-’11 tax levels had remained in place.​

E. Litke, John Nygren says Wisconsin Republicans have cut taxes by $8B, still grown revenue, Politifact (Mar. 21, 2019).


You lose again, dan_c00000.

Now, to get back to the point:

...

What happened to true economic conservatives?

Excellent point!

There are still some out there. Scott Walker took Wisconsin from his Democrat predecessor's $3.6 billion deficit and turned it into a consistent annual surplus. He ran for president on that record, but Trump beat him in the primary. Then, in part because he ran for president while still governor -- Wisconsinites don't like divided loyalties -- he got voted out in Wisconsin.

Walker did it in Wisconsin by lowering taxes (which, consistent with the Laffer Curve, actually increased state revenue), decreasing business regulation, and curbing spending growth. Trump has done the first two federally, with similar results on federal revenue. Unfortunately, he has shown no interest in reining in federal spending.

No sooner had I written the above, then...

Just this week, Trump issued two executive orders that mirror some of the successful reforms passed in Wisconsin. The first order, “Promoting the Rule of Law Through Improved Agency Guidance Documents,” requires federal agencies to publish guidance documents on easily searchable websites, and requires public input on certain guidance documents. Guidance documents are sometimes called the “secret playbooks” of agencies....

Trump’s order mirrors what the Wisconsin legislature passed in 2018 during the December extraordinary session. State agencies are now required to post guidance documents on their websites, and establish a notice-and-comment system for guidance to obtain public input.

The second of Trump’s executive orders, “Promoting the Rule of Law Through Transparency and Fairness in Civil Administrative Enforcement and Adjudication,” prohibits agencies from enforcing rules that were not made publicly known in advance, and instructs agencies to issue opinion letters to individuals and businesses so they can learn how to best comply with the law....​

L. Vebber, President Trump’s New Regulatory Reforms Model Wisconsin Law, Right Wisconsin (Oct. 10, 2019), see also D. Ditch, Trump Executive Order Could Save Taxpayers Billions, Heritage Foundation (Oct. 15, 2019).

 

[jp55665566]

Just this week, Trump issued two executive orders that mirror some of the successful reforms passed in Wisconsin. The first order, “Promoting the Rule of Law Through Improved Agency Guidance Documents,” requires federal agencies to publish guidance documents on easily searchable websites, and requires public input on certain guidance documents. Guidance documents are sometimes called the “secret playbooks” of agencies....

Trump’s order mirrors what the Wisconsin legislature passed in 2018 during the December extraordinary session. State agencies are now required to post guidance documents on their websites, and establish a notice-and-comment system for guidance to obtain public input.

The second of Trump’s executive orders, “Promoting the Rule of Law Through Transparency and Fairness in Civil Administrative Enforcement and Adjudication,” prohibits agencies from enforcing rules that were not made publicly known in advance, and instructs agencies to issue opinion letters to individuals and businesses so they can learn how to best comply with the law....​

And President Trump only used ONE pen(not 30) to sign his name!

 

[dan_c00000]

Let me quote some lying racist sources.

Sorry dawn, you got caught being a racist again. Try a non-racist source and you'll see Walker blew a massive hole in the budget he didn't plan on filling. In fact, he increased the deficit by $1.8 billion.

Looks like you got owned again racist dawn. This is so easy it's not even funny. Let's see how long you last before you get banned again.

 

[DawnONight]

Sorry dawn, you got caught being a racist again. Try a non-racist source and you'll see Walker blew a massive hole in the budget he didn't plan on filling. In fact, he increased the deficit by $1.8 billion.

Looks like you got owned again racist dawn. This is so easy it's not even funny. Let's see how long you last before you get banned again.

You again claim something untrue, even though I've schooled you on it before.

Nice going, dan_c00000, you fooled me.

You didn't write in huge letters like you usually do in your desperate attempts to be noticed, so I did not realize this was your post until I started reading it. As you know, I usually just ignore your posts because, like this one, they are a waste of time due to their utter lack of factual bases. As long as I've read this one, I will take the time to reply. My first thought is: Do you really believe the inaccuracies you post, or are you just intentionally lying to fool the uninformed?

...

If you look at the cited article again, you will see a link to a memo from the nonpartisan Wisconsin Legislative Fiscal Bureau.* That is from where the numbers came....

Every two years, the nonpartisan Wisconsin Legislative Fiscal Bureau prepares a report to tell the legislature what the State's finances will look like if the next budget is the same as the budget then in place. This gives the legislature a starting point for preparing the next budget. It then makes adjustments and passes a new budget that eliminates the hypothetical (in the most recent case, $1.6 billion) deficit. Wisconsin law requires a balanced budget. Then, if tax revenues on the new budget exceed expectations, the State runs a surplus, as it has every year since Walker's reforms went into effect.

The factual numbers show that, after inheriting a > $3 billion dollar deficit from his Democratic predecessor, Jim Dolye, Scott Walker, with the help of the Republican controlled legislature, achieved a surplus with every budget he enacted....

In other words, dan_c00000, the facts support what I have written. You have replied with untruths and inaccuracies. I win.

Don't worry, though. If you don't want me to crush you again, simply go back to using huge letters in your posts and I'll go back to ignoring them.





* Even the Associated Press admits the Wisconsin Legislative Reference Bureau is nonpartisan.

As for being banned, bring it on.

Having my last ID banned did a world of good for my side. It showed to what factually deficient, logically challenged, and rhetorically vapid Leftists like you must resort to try to beat Conservatives like me, because you cannot defeat us in honest debate. Even several self-confessed Democrats have written in support of me since the banning. By being banned, I won again.

 

[DawnONight]

Wages for rank-and-file workers are rising at the fastest pace in more than a decade, a sign that one of the tightest labor markets in recent history is beginning to incentivize employers to increase pay.

Pay for the bottom 25 percent of wage earners, who account for 82 percent of the population, rose 4.5 percent in November from the year-ago period, according to data published by the Federal Reserve Bank of Atlanta. That’s the highest since July 2008. Wages for top earners, meanwhile, rose just 2.9 percent last month.

Overall, wages have accelerated this year by an average of 3.6 percent, as unemployment dropped, once again, to a half-century low. For employers, low employment means fewer people are looking for a job, limiting the supply of available employees and increasing competition to get the best workers....

“Low unemployment and a tight labor market with more than 1 million open, unfilled jobs is benefiting workers, with more reporting pay raises and finding better-paying jobs than each of the last three years,” Greg McBride, Bankrate's chief financial analyst, said.

There are currently about 5.8 million unemployed people in the U.S. and roughly 7.3 million job openings....​

M. Henney, Low-earning Americans are seeing the biggest wage gains in a decade, Fox (Dec. 28, 2019).