2024 Presidential Race

[Vol737]

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.

We’re running trillion dollar deficits annually. Less than half the people pay income tax at all. The top 10%, which includes people making $169,000 and up, paid 76% of all income taxes. Take just the top 5%, and they’re paying 66% of all income taxes. Americans pay about 4.5T in income, payroll, corporate and other taxes. So, let’s start with a 1% national sales tax, because I don’t want people feeling left out.

 

[W.TN.Orange Blood]

 

[Vol737]

Yeah ... Trump did such a great job of that during his first term.

Who said anything about Trump? Every administration has sucked b***s when it comes to spending. I’m not picking a winner here.

 

[BowlBrother85]

You are bitching about the wrong thing. Its spending. Its always been spending. The most obvious example of this is that WE ALWAYS SPEND MORE THAN WE TAKE IN

.... and when you are cutting taxes while increasing spending .... YOU WILL DRIVE UP INFLATION!

 

[Vol8188]

You need to argue. Do it with someone else.

You made the claim that the deficit is primarily due to tax cuts.

If so…why has it doubled despite 0 tax cuts? It’s a fair question

 

[Vol8188]

.... and when you are cutting taxes while increasing spending .... YOU WILL DRIVE UP INFLATION!

Yes, deficits cause inflation….thanks for admitting republicans are right on economics?

Some on your side will still openly proclaim deficits don’t matter

 

[CobbVol]

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!

Again for the 10th time, the inflation data is not reflective in Trump's term. How long is the lag you say in your world?

 

[Vol8188]

Again for the 10th time, the inflation data is not reflective in Trump's term. How long is the lag you say in your world?

He’s also openly proclaiming that deficits cause inflation (agreed) but ignoring that Biden has doubled the annual deficit

 

[volfanhill]

.... and when you are cutting taxes while increasing spending .... YOU WILL DRIVE UP INFLATION!

Not necessarily. Tax cuts can spur growth. As long as that growth is less than the spending then it won't. Trump did not do that

 

[W.TN.Orange Blood]

Another reason to kick those bums out the WH. Biden/Harris must go somewhere else.

 

[Vol8188]

.... and when you are cutting taxes while increasing spending .... YOU WILL DRIVE UP INFLATION!

What if you just dramatically increase spending like Biden did.

Will that drive up inflation?

 

[BowlBrother85]

Not necessarily. Tax cuts can spur growth.

We definitely go in circles on here. That gets back to one of my main points about cutting taxes. The Republican mantra going back to the Reagan era, is that tax cuts pay for themselves through economic growth. History has never borne that out.

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

 

[BowlBrother85]

What if you just dramatically increase spending like Biden did.

Will that drive up inflation?

Yes.

 

[Vol8188]

Yes.

So Biden doubling the deficit does make Biden responsible for inflation?

 

[hog88]

Tax cuts are inflationary. Tax cuts increase the demand for products. I'm not arguing over such a basic principle.

Tax cuts with reduced spending is not inflationary. Inflation is the result of the government manufacturing money to cover spending.

 

[Franklin Pierce]

Abortion Radical Kamala Harris Has Not Held A Press Conference In 70 Days.

 

[hog88]

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.

Spending more than you take in is responsible for deficits.

 

[W.TN.Orange Blood]

Abortion Radical Kamala Harris Has Not Held A Press Conference In 70 Days.

 

[Vol8188]

Spending more than you take in is responsible for deficits.

He still won’t tell me what taxes Biden cut that caused the annual deficit to double under his administration

 

[W.TN.Orange Blood]

He still want tell me what taxes Biden cut that caused the annual deficit to double under his administration

That's bc he has to protect old man Biden at all cost. He doesn't want Biden to look bad.

 

[hog88]

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

It’s the manufacturing of money to cover the deficit that causes inflation.

 

[W.TN.Orange Blood]

 

[Vol8188]

2019 Trump deficit: 0.9 trillion

2024 Biden deficit: 1.8 trillion

BB “deficits are primarily caused by tax cuts”

What a wild statement to make. I don’t think we are living in the same reality

 

[CobbVol]

.... and when you are cutting taxes while increasing spending .... YOU WILL DRIVE UP INFLATION!

You are ignoring my question, and I can understand why. I will try again.

1) Trump tax cuts went into effect Jan 2018
2) Trump even had increased spending due to COVID which occurred in Mar 2020

With these actions, where is the "Trump" inflation in the chart below?

 

[Orangeburst]

straight from the Treasury
Tax receipts from 2018 onward have held steady or gone up and these tax cuts are still active.
Just lies.

Fiscal Data Explains Federal Revenue

Check out @FiscalService Fiscal Data’s new federal revenue page! #FederalRevenue

fiscaldata.treasury.gov