We Are Not Collecting Enough Taxes. And Still The Debt Rises; Despite Strong Economy.

P

PoliTalker

Diversity Makes Greatness
Here is a good website for keeping track of the debt and the deficit:

US Debt Clock

The debt is now nearly $21.5 Trillion. It was about $20 Trillion when Trump took over.

Notice the box with the deficit. It continues to rise.

That means the economy is not (as Republicans promised,) generating enough taxes to pay down the debt.

Democrats pointed this out when Republicans wanted to raid the piggy bank with the recent tax cut for the rich, but Republicans would not listen. Republicans said the expanding economy would make up for the shortfall. It hasn't. Republicans were wrong. The deficit continues to rise.

That's bad. It fell under Obama and Clinton.

Not only are we not paying down the debt, we continue to borrow more and more, just to run the government. We cannot live on borrowed tax cuts.

The situation cannot continue. We can not ignore this like the Republicans want to do. The Republican approach is irresponsible. We have to support Democrats who promise fiscal responsibility.

We have to raise taxes on the rich. They are the only ones with enough spare income to reverse this.
 
If given a choice, PoliTalker, would you rather >LOAN< the Government money, or >GIVE< the Government money?

See, LOANING the Government money, means you get a Return (like an Investment).
GIVING the Government money is a TOTAL LOSS of investible income.

Does that make sense?
 
PoliTalker said:
Here is a good website for keeping track of the debt and the deficit:

US Debt Clock

The debt is now nearly $21.5 Trillion. It was about $20 Trillion when Trump took over.

Notice the box with the deficit. It continues to rise.

That means the economy is not (as Republicans promised,) generating enough taxes to pay down the debt.

Democrats pointed this out when Republicans wanted to raid the piggy bank with the recent tax cut for the rich, but Republicans would not listen. Republicans said the expanding economy would make up for the shortfall. It hasn't. Republicans were wrong. The deficit continues to rise.

That's bad. It fell under Obama and Clinton.

Not only are we not paying down the debt, we continue to borrow more and more, just to run the government. We cannot live on borrowed tax cuts.

The situation cannot continue. We can not ignore this like the Republicans want to do. The Republican approach is irresponsible. We have to support Democrats who promise fiscal responsibility.

We have to raise taxes on the rich. They are the only ones with enough spare income to reverse this.
Click to expand...


exactly, GOP fat cat presidents and Congress have delivered the largest wealth gap in history, even bigger than in the Robber Baron days
 
That means the economy is not (as Republicans promised,) generating enough taxes to pay down the debt.

Tax cuts NEVER pay for themselves
 
Lesh said:
That means the economy is not (as Republicans promised,) generating enough taxes to pay down the debt.

Tax cuts NEVER pay for themselves
Click to expand...

And paying off the national debt would completely tank the economy. Democrats, however, don't want to pay off the debt. They just want more available credit when they belly up to the trough.
 
PoliTalker said:
Here is a good website for keeping track of the debt and the deficit:

US Debt Clock

The debt is now nearly $21.5 Trillion. It was about $20 Trillion when Trump took over.

Notice the box with the deficit. It continues to rise.

That means the economy is not (as Republicans promised,) generating enough taxes to pay down the debt.

Democrats pointed this out when Republicans wanted to raid the piggy bank with the recent tax cut for the rich, but Republicans would not listen. Republicans said the expanding economy would make up for the shortfall. It hasn't. Republicans were wrong. The deficit continues to rise.
Click to expand...
The Republicans have made the same promise every time they've made the rich richer with tax cuts, and it's never worked out that way.
 
Jack said:
If given a choice, PoliTalker, would you rather >LOAN< the Government money, or >GIVE< the Government money?

See, LOANING the Government money, means you get a Return (like an Investment).
GIVING the Government money is a TOTAL LOSS of investible income.

Does that make sense?
Click to expand...
So the Chinese get rich off of Republicans' inability to govern responsibly.
 
Kacper said:
And paying off the national debt would completely tank the economy. Democrats, however, don't want to pay off the debt. They just want more available credit when they belly up to the trough.
Click to expand...
What we need is to raise taxes enough to eliminate the deficit, with a bit left over to start paying off the debt. Republicans want to eliminate the deficit by cutting taxes, then cutting spending enough to completely tank the economy.
 
rjhenn said:
So the Chinese get rich off of Republicans' inability to govern responsibly.
Click to expand...

I had in mind the 'Shareholding Class'.
Rather than 'GIVING' their money to the Government, they 'LOAN' their money to the Government.
 
Kacper said:
And paying off the national debt would completely tank the economy. Democrats, however, don't want to pay off the debt. They just want more available credit when they belly up to the trough.
Click to expand...
What we need is to raise taxes enough to eliminate the deficit, with a bit left over to start paying off the debt. Republicans want to eliminate the deficit by cutting taxes, then cutting spending enough to completely tank the economy.
 
tsuke said:
as i understand it were actually collecting more taxes than ever right?
Click to expand...

Nope, we saw a good April, but we just about always see a good April. Other than that, year-to-year, receipts are down, as usual after a tax cut.
 
The Laffer Curve enters here.
Trump lowers tax on the $rich, and then they puzzle over why our debt skyrockets.
"... everyone's for big government. The American People say we hate big government, but we like our social security and medicare. That's 38% of government right there. The biggest components of government are the most popular components of government."
"What's pernicious about deficits for conservatives is this. It makes big government cheap. What we're doing, we're turning to the country, the "conservative" administration turns to the country and says: We're going to give you a dollar's worth of government, we're going to charge you seventy five cents for it. And we're going to let your kids pay the other quarter." George Will Nov 30, 2003
Click to expand...
 
rjhenn said:
What we need is to raise taxes enough to eliminate the deficit, with a bit left over to start paying off the debt. Republicans want to eliminate the deficit by cutting taxes, then cutting spending enough to completely tank the economy.
Click to expand...

No debt=No intergovernmental holdings
No debt=No ability to regulate inflation
No debt=Destabilization of the bond market
No debt=No benchmark for interest rates

If we had no debt, the world would just abandon the dollar for another country's currency to be the basis of everything.
 
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