This person understands it all. Take heed.
Trump Admin is now dealing with US debt...
- Thread starter QP!
- Start date
Tbird19482
Verified User
The debt has gone up over 25% under Trump.
It is 40Trillion now and has gone up over 11 Trillion under trump alone.
Again it is a fact if you want a recession or to run the debt up vote a Republican in office they will get it done.
Obama was not in complete control. He did not have that option. He sady, was working with the guys who caused the financial disaster. They felt no remorse and would not do a thing without guarantees. No jail. And they would get their bonuses.
Dumb lie filled bullshit
When I see a halfwit bloviate “empire”, it’s a sign we’re dealing with a lying dumbass.
T. A. Gardner
Serial Thread Killer
Bullshit. If tax rates remained at the Pre Reagan levels, across the board these issues would not exist.
This is a follow on to right wing "Trickle Down Economics' and series of 'tax cuts after tax cuts' and NOT the programs.
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Many supported studies show that If the United States had maintained its pre-Reagan structural tax revenues, the national debt would be entirely paid off today, and the country would have a massive multi-trillion-dollar surplus to easily fund entitlements. [1]
The pre-Reagan era (specifically 1946 through 1980) was characterized by much higher marginal tax rates on corporations and upper-income earners. The Brookings Institution notes that when Ronald Reagan took office in 1981, the top marginal income tax rate was 70%. Through his landmark 1981 and 1986 tax overhauls, he slashed that top rate down to 28%, fundamentally lowering the baseline of federal revenue as a percentage of the economy. [1, 2]
Multiple fiscal analyses map out this exact "what-if" scenario, focusing on the structural revenue gap and the compounding effects of subsequent tax cuts. [1, 2]
The Core Analysis: Structural Revenue Failure
The primary analysis comes from non-partisan and fiscal think tanks and macroeconomic retrospectives published by institutional managers like J.P. Morgan Asset Management. [1, 3]
Their findings highlight a permanent shift in federal revenue relative to the Gross Domestic Product (GDP):
- The Baseline Shift: For decades before the 1980s, federal revenues regularly matched or outpaced economic growth. However, because of the sequential tax cuts started by Reagan and deepened by the George W. Bush, 2017 Trump, and 2025 Trump tax cuts, federal revenues plummeted from an historical average of roughly 19.1% of GDP down to a modern average of 16.7%. [1, 2, 3]
- The Compounding Effect: A CRFB analysis reported by Yahoo Finance notes that just the major tax cuts enacted in the 21st century alone are responsible for 37% of the total current debt. When adding the compounding interest required to service that borrowed money found that these cuts drive over 57% of the modern debt-to-GDP ratio. [, 2, 3]
- The Ultimate Conclusion: Economists from these groups calculate that "absent these tax cuts, the US national debt would be fully paid off today," leaving the federal government with a massive net surplus instead of a $40 trillion debt load. [1, 2]
QP!
Verified User
he says as America had its most explosive growth and success across all classes of people (lower, middle and upper) during its highest and most progressive tax regimes, and since Reagan implemented a philosophy of tax cuts for the rich, which Republicans advance in each and every term, the US continues to spiral into debt while heading for disaster.
QP!
Verified User
it is true but it misses a big point.
Trump is very likely to hand off an economy, once again, on the brink of ruin to the next Dem POTUS who may again need to use debt to right the ship.
Sure years after people will just say 'oh they all do the debt thing' but there is a right way and wrong to utilize debt and Republicans almost always do it the wrong way, hand off a crisis to Dems and then Dems get blamed for fixing it.
It is very predictable and bump this post when Trump does it again.
Trump is owned by the Swamp no less than Biden was.....he does as he is told....just look at the Iran war....he spent a decade saying that this would the dumbest thing ever, he would never do it.......then the Zionist Bastards ordered it.
He did as he was told....he continues to do as he is told in not getting out of it.
T. A. Gardner
Serial Thread Killer
Actually, America's greatest growth period was post-Civil War and during the robber baron era where there were essentially no federal income taxes.
In the post WW 2 era, high income taxes were offset by the rest of the world being economically crippled from that war. Once other nations recovered, high income taxes were a drag on the US economy and forced them down.
More taxes will NOT fix the deficit. Reducing spending will. The number one way to do that is get the government out of the health insurance business entirely and return that segment of the economy to one that is market driven.
QP!
Verified User
"...success across all classes of people (lower, middle and upper) ..."
Yes Putin and his hand selected Oligarchs may well have experienced the most growth of any people on the planet as Russia, over all diminished, but i will leave you to argue that the period of enrichment of the robber barrons is superior to "...success across all classes of people (lower, middle and upper) ..."
QP!
Verified User
And i've shown above that is not true and that more taxes can and would fix the issues. Increasing revenues can certainly work as it did in the past.
Cutting spending would not work with Magats as they would use every cent gained to just cut taxes by two cents thus keeping the cycle going.
T. A. Gardner
Serial Thread Killer
QP!
Verified User
I did already.
But your definition of "reasonable" is 'one that says what you want hear' and you hand wave away any others.
Prior to Reagan starting the wave of constant tax cuts for the wealthy the revenue coming in was sufficient to pay for the expenditures and modeling shows it would have continued to be if maintained.
They gutted revenue so they could then say 'programs must be cut' in the same way Republicans changed the law to make a prior profitable USPS unprofitable thru onerous terms that would kill 99% of companies so they could then say the USPS model did not work.