Republicans exhume trickle-down economics from its grave

[someoneyouknow]

Capitalizing on the huge success seen in Kansas where, in a period of four years, the state went from a $300 million budget surplus to a $1 billion budget deficit, Republicans have used the power of voodoo to call forth the dessicated corpse of trickle-down economics.

They argue they shouldn't have to pay for any tax cuts within the text of the budget bill, but rather, the growth seen from such cuts will more than make up for any lost revenue. Just like it's done the countless times before.

As Treasury Secretary Steve Mnuchin said, “The deal will pay for itself."

http://www.cbsnews.com/news/growth-will-pay-for-a-majority-of-tax-reform-treasury-secretary-steven-mnuchin-says/

 

[JackLuis]

Brownback estimates three-year tax revenue will boost Kansas by $156.4 million

Kansas on Thursday increased tax revenue estimates for the current fiscal year as well as the next two by a total of $156.4 million from a previous November projection as the state struggles with budget deficits.

For fiscal 2017, which ends June 30, the estimate was boosted by $62.5 million, while projections increased by $42.9 million for fiscal 2018 and $51 million for fiscal 2019. Reasons for the rosier outlook were not immediately available from Governor Sam Brownback’s office.

Tax cuts enacted in 2012 have gouged a hole in the Kansas state budget. After months of falling short of estimates, tax revenue met or exceeded projections between November and February, before slipping below estimates in March.

Brownback on Tuesday signed into law a bill that plugs a $280 million hole in the state’s current budget largely by borrowing money from a state investment fund.

Living on borrowed money is not fiscal responsibility, dumbshit!

 

[Maidboy]

Given our President's past activities with Russian prostitutes, I believe the term "trickle down economics" has an entirely new meaning.

 

[JackLuis]

Given our President's past activities with Russian prostitutes, I believe the term "trickle down economics" has an entirely new meaning.

Maybe he meant "Tinkle down"?

 

[Chris_Michael]

Hmm.... it seems our conservatives are using socialist means to run their capatalist economy...

There is another way to look at it. America is just irresponsible and shouldn't be allowed to borrow money. Isn't that how the elite see the poor working class?

 

[DeYaKen]

Capitalizing on the huge success seen in Kansas where, in a period of four years, the state went from a $300 million budget surplus to a $1 billion budget deficit, Republicans have used the power of voodoo to call forth the dessicated corpse of trickle-down economics.

They argue they shouldn't have to pay for any tax cuts within the text of the budget bill, but rather, the growth seen from such cuts will more than make up for any lost revenue. Just like it's done the countless times before.

As Treasury Secretary Steve Mnuchin said, “The deal will pay for itself."

http://www.cbsnews.com/news/growth-will-pay-for-a-majority-of-tax-reform-treasury-secretary-steven-mnuchin-says/

The best put down I've heard for Trickle Down came from a US business man. He Said

I earn 1000 times the average salary.

I've got a nice house, but I don't have 1000 nice houses.

I drive a nice car, but I don't drive 1000 nice cars.

I eat well, but I don't eat 3000 square meals a day.

That may sound ridiculous, but that is what I would have to do for trickle down to work.

 

[BotanyBoy]

Hmm.... it seems our conservatives are using socialist means to run their capatalist economy...

That would make it no longer a capitalist economy.

And it isn't...capitalism died a long time ago.

If one dares to make money without the approval of the government elites? SWAT TEAM!!!

They have pretty much legislated that only elites get to make money for themselves, everyone else needs to line up for their 7.50/hr or welfare and be happy with it.

 

[Chris_Michael]

That would make it no longer a capitalist economy.

And it isn't...capitalism died a long time ago.

If one dares to make money without the approval of the government elites? SWAT TEAM!!!

They have pretty much legislated that only elites get to make money for themselves, everyone else needs to line up for their 7.50/hr or welfare and be happy with it.

Yes, I'm still trying to figure out why we call the US a Capitalist country. Due to my ignorance, I mistake the types of economies a lot. I still can't figure out if I'm a socialist or not. This creates problems for me, and I'm not sure I'll ever know.

I have a brain for math and science, and college did nothing for me in terms of understanding history. I made an A+ in early American history, macroeconomics, statistics (undergrad and grad), and the 1 credit mandatory government class we had to take to graduate from a GA college.

I was well liked by my professors as well. I always spoke with them about where I stood in the class because I wanted them to know that I wanted the highest grade possible.

All that being said, I just never could handle history in the real world sense. I envy those who are well-versed in it. It's truly awesome to see people speak casually about historical events.

So, I just try the best I can, and I try to logically piece together what seems right. When it comes to politics, I have to think about hypotheticals and relate the stories to what I know. Meh I'm rambling...