2024 Presidential Race

#46,078
#46,078
SpaceCoastVol said:
What the everloving hell do you mean 'pay for themselves'? The government is TAKING your money. You aren't PAYING for Jack ****. You act like the government is entitled to what you earn. I am happy that you want to work for the government, but the .gov can KMA. They have taken a helluva lot of money from me.
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A common Republican theme is that tax cuts will pay for themselves through growth. History has shown that never proves to be the case.

www.nytimes.com

Trump’s Tax Cut Fueled Investment but Did Not Pay for Itself, Study Finds

The most detailed research yet on corporate response to the 2017 Republican tax law shows modest gains for workers and high cost to the federal debt.
www.nytimes.com www.nytimes.com

www.crfb.org

Tax Cuts Don't Pay For Themselves | Committee for a Responsible Federal Budget

While policymakers are gearing up to address tax reform this fall, some have advocated for abandoning true reform and instead focusing solely on tax cuts.
www.crfb.org www.crfb.org
 
#46,079
#46,079
BowlBrother85 said:
You are such a dumb a$$.

www.infometrics.co.nz

How inflationary are tax cuts?

For the last few years, the government has put off cutting taxes because of their inflationary impact. Now, with the government willing to cut taxes, the Reserve Bank is unhappy because of their inflationary impact. This begs the question, how inflationary are tax cuts?
www.infometrics.co.nz
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Take a meat cleaver to spending first. That will do more to tame inflation when the trajectory of the debt is reversed. Quit telling the whole of America that the govt is f’ing Santa Claus.
 
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#46,081
#46,081
BowlBrother85 said:
You are such a dumb a$$.

www.infometrics.co.nz

How inflationary are tax cuts?

For the last few years, the government has put off cutting taxes because of their inflationary impact. Now, with the government willing to cut taxes, the Reserve Bank is unhappy because of their inflationary impact. This begs the question, how inflationary are tax cuts?
www.infometrics.co.nz
Click to expand...

Is he? Read your own article again. It clearly states if tax cuts are met with equal cuts to government spending, they are not inflationary. So it’s not the tax cut itself that’s inflationary.

Rather, its government deficits
 
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#46,084
#46,084
Vol8188 said:
Is he? Read your own article again. It clearly states if tax cuts are met with equal cuts to government spending, they are not inflationary. So it’s not the tax cut itself that’s inflationary.

Rather, its government deficits
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OMG. Tax cuts are never done in conjunction with cuts to government spending. They don't pay for themselves with growth. Tax cuts are primarily responsible for the deficits.
 
#46,087
#46,087
BowlBrother85 said:
OMG. Tax cuts are never done in conjunction with cuts to government spending. They don't pay for themselves with growth. Tax cuts are primarily responsible for the deficits.
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You’re intentionally misunderstanding the point. Deficits cause inflation. Not tax cuts.

Also if it’s tax cuts that are responsible for deficits and the deficit grew under Biden and under Obama (neither of whom cut taxes to my knowledge)…

can you explain how that happened?
 
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#46,089
#46,089
Vol8188 said:
You’re intentionally misunderstanding the point. Deficits cause inflation. Not tax cuts.

Also if it’s tax cuts that are responsible for deficits and the deficit grew under Biden and under Obama (neither of whom cut taxes to my knowledge)…

can you explain how that happened?
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Tax cuts are primarily responsible for the deficits.
 
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#46,094
#46,094
BowlBrother85 said:
No, it's the same thing. Tax cuts create the damn deficits. The article clearly points out, as most economists will, that tax cuts are inflationary! This is so stupid.
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Those are two separate things. You can argue tax cuts worsen deficits. That’s true. But it’s still not the tax cut itself that causes inflation. Rather it’s the deficit. Because the deficit has to be paid for which increases demand.

A tax cut is not always inflationary. A deficit is always inflationary
 
#46,095
#46,095
Vol8188 said:
Those are two separate things. You can argue tax cuts worsen deficits. That’s true. But it’s still not the tax cut itself that causes inflation. Rather it’s the deficit. Because the deficit has to be paid for which increases demand.

A tax cut is not always inflationary. A deficit is always inflationary
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My first damn post concerning this, specifically said that tax cuts are inflationary when in conjunction with an increase in spending.

This wasn't some damn hypothetical scenario either! We were talking about Trump's fiscal policy during his first term in office when he both increased spending and cut taxes. It was inflationary as hell!
 
#46,098
#46,098
BowlBrother85 said:
My first damn post concerning this, specifically said that tax cuts are inflationary when in conjunction with an increase in spending.

This wasn't some damn hypothetical scenario either! We were talking about Trump's fiscal policy during his first term in office when he both increased spending and cut taxes. It was inflationary as hell!
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Sure, deficits cause inflation. Biden’s deficit is double that of Trump’s precovid deficit.

Must be from all those Biden tax cuts, right?
 
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