Federal deficit grows by 32% to $900B

[LV426]

This is actually an excellent question. It's also the kind of question that if you ask twenty people what should be cut, you'll get twenty different answers.

All of which are vague, generalized and would not even come close to closing the deficit they pretend to care about only when they think it helps them politically.

If you cut all non-defense discretionary spending, you still have a budget deficit of $300B.

Plus, you've taken government demand out of the marketplace and not replaced that spending with anything. So by cutting government spending, you end up contracting the economy because you cut demand and didn't replace it with anything.

 

[LV426]

By passing oppressive laws.

Oh, word? Like what? What law has oppressed you?

 

[LV426]

By attempting to implement price controls.

Attempting, how? Now you're just making shit up out of thin air.

 

[LV426]

y direct taxes to pay for it all (in addition to the tax and waste caused by these laws).

So you're mad about taxation with representation. You don't really get the point of America, do you?

 

[LV426]

The federal government is currently trying to tell me what toilet I can have, what light bulb I can have, what kind of engine my car can have, how often I have to replace perfectly good working parts on my airplane (one just came due), by using taxation to 'guide society', but the taxes I pay in products such as gasoline, which is taxed when you drill for the oil, taxed when you sell that oil to a refinery, taxed to refine it, taxed to store the finished product, taxed to transport that product to distribution centers, taxed to add the moderators and other chemistry, taxed to store it at the distribution centers, taxed to pump it into the ground at the gas stations, and taxed when you pump it out of the ground at the gas station, then the general taxes just for owning a car

Gasoline prices here are among the lowest in the Western world.

If you want lower gas prices, then stop letting oil companies sell domestic oil on the global market. Simple solution. But you seem to want to have your cake and eat it too. Also, when it comes to oil drilling, that is one of the most heavily subsidized private sector industries. The tax credits oil companies get would stun you. It costs them virtually nothing to explore and extract oil because of the subsidies and tax credits they get for doing so.

Oh...and don't forget the casinos. You are taxed on a big win, but you don't get to write off any losses you sustained to get that big win. They take HALF the money you won in some cases!

Yeah, because that's how progressive taxation works.

Your big thing seems to be that you're mad that you get representation for your taxation.

 

[LV426]

Obama didn't extend Bush's tax cuts? He must have thought they were a good thing. People are not trash for stating facts that you dislike. You make everything about hate.

Obama didn't extend Bush's tax cuts for the wealthy.

So you leave the bolded part out.

Another example of you acting in bad faith.

 

[LV426]

Yes I can, because you are not using math. Tax cuts are not spending. If a government cuts taxes, it must cut spending. It if cuts taxes, but does not reduce spending, it is a spending problem, not a tax cut problem. Tax cuts are not a problem.

LOL!

I literally gave you the budget from the Kansas State Legislature and it shows that the repeal of the tax cuts turns deficits into surpluses.

 

[LV426]

Agreed. Tax cuts do not cause deficits and debt.

Yes they do:

 

[LV426]

Spending is the problem. not tax cuts. Borrowing is the problem, not tax cuts. Printing money is the problem, not tax cuts.

Tax cuts are always the problem because tax cuts reduce revenue. But that's the goal of them; to starve the Treasury of revenue in order to have an excuse to push through cuts to social programs to which you're ideologically opposed, but lack the courage, will, and support to repeal through conventional legislation.

So you practice fiscal terrorism, where you fly planes of tax cuts into the budget, then cry chicken little over the resulting deficits, and propose cuts to spending instead of a repeal of the tax cuts that caused the deficit to appear in the first place.

This literally happened in Kansas. The tax cuts were so terrible that they repealed them last year. The result? Kansas' budget went from record deficits to surpluses:



There's the math, plain as day. SB 30 is the repeal of the Brownback Tax Cuts, and look at that! When the tax cuts are repealed, suddenly Kansas has a budget surplus!

Explain how that's not because of the repeal of the tax cuts, using math only. Go ahead. I dare you.

 

[LV426]

The Federal Reserve is directly responsible for crashes in the economic system since the Great Depression. It is price controls on money itself. Price controls never work.

Nope.

The Federal Reserve had nothing to do with the S&L's you Conservatives helped inflate in the 80's.

The Federal Reserve had nothing to do with the Capital Gains Tax Cut of the 90's that caused the Dotcom bubble.

The Federal Reserve had nothing to do with the Bush Administration dramatically weakening underwriting standards for subprime loans beginning in 2004 and extending through 2007.

In all three cases, the cause of the collapse were shitty Conservative economic and fiscal schemes.

They're why Obama won in 2008; Conservative economics and fiscal policies failed spectacularly. Like they always do.

 

[LV426]

Sticking your head in the sand doesn't make the problem go away. Yes...it can happen to the United States too.

No, it really, really won't.

It isn't.

The US Will Remain the World's Reserve Currency

 

[LV426]

The 'true rate' is current tax rate imposed by the government, including the 'loopholes'

So you're talking about Effective Tax Rate.

Do you realize that? The Effective Tax Rate would be the Actual Rate minus the loopholes.

 

[cawacko]

Nope.

The Federal Reserve had nothing to do with the S&L's you Conservatives helped inflate in the 80's.

The Federal Reserve had nothing to do with the Capital Gains Tax Cut of the 90's that caused the Dotcom bubble.

The Federal Reserve had nothing to do with the Bush Administration dramatically weakening underwriting standards for subprime loans beginning in 2004 and extending through 2007.

In all three cases, the cause of the collapse were shitty Conservative economic and fiscal schemes.

They're why Obama won in 2008; Conservative economics and fiscal policies failed spectacularly. Like they always do.

Use all your own adjectives on yourself here. Not sure why you choose to protect the Fed but you are. And you're blaming capital gains cuts for the dot com bubble? Again, you hate tax cuts so you create a false narrative to blame them. So look in the mirror before you call others frauds and tell them to kill them selves

 

[Truth Detector]

Taxing religion alone would probably fund the entire economy.

But as it stands, they get all the free money they can handle.

Another moronic idea; but then, you are an expert at moron.

 

[Truth Detector]

The average kindergartener can manage coherency better than you can.

Irony from someone who posts like one. STFU, seriously.

 

[Truth Detector]

Report: Walmart Workers Cost Taxpayers $6.2 Billion In Public Assistance
https://www.forbes.com/sites/clareo...-2-billion-in-public-assistance/#7b1a11b7720b

Amazon Gets Tax Breaks While Its Employees Rely on Food Stamps, New Data Shows
https://theintercept.com/2018/04/19/amazon-snap-subsidies-warehousing-wages/

You can go into denial now.

Neither of these articles support the false bullshit you claimed shit-for-brains. Your claim was that they coach their employees how to game the system to get benefits they don't provide.

That is lame and a lie. STFU, seriously.

 

[Truth Detector]

Meanwhile:

The U.N. says 18.5 million Americans are in ‘extreme poverty.’ Trump’s team says just 250,000 are
https://www.washingtonpost.com/news...-by-18-million-people/?utm_term=.a8390516ff19

The UN says so? STFU, seriously.

 

[Truth Detector]

That's why I call the Republicans Borrow and spend, while the Democrats are tax and spend.

I prefer tax and spend, for obvious reasons.

Of course you prefer tax and spend, you're a gullible moron. The Republicans are the only legislature in four decades that balanced the budget. It will happen again as long as American voters aren't scammed into voting for lying morons in the Democratic Party of the Jackass.

Tax cuts don't reduce revenue or cause deficits you willful idiot.

 

[Joe Capitalist]

Use all your own adjectives on yourself here. Not sure why you choose to protect the Fed but you are. And you're blaming capital gains cuts for the dot com bubble? Again, you hate tax cuts so you create a false narrative to blame them. So look in the mirror before you call others frauds and tell them to kill them selves

Well, he's right about one thing: the Bush Administration dramatically weakening underwriting standards for subprime loans beginning in 2004 and extending through 2007.

This is what caused the 2008 mortgage crisis and recession.
Straight from the horse's mouth:

 

[katzgar]

So other nations can impose taxes on their imports from us, but we can't impose taxes on our imports from them??? Even if they use those taxes to heavily subsidize the price of their product that we import???

your comments show you're one of the most ignorant people on The Forum impose plenty of tariffs