Federal deficit grows by 32% to $900B

[LV426]

Americans want lots of things from their government but don't want to pay for it. Politicians are happy to oblige. Speaking truth to the fact of overspending doesn't get one elected.

You just said yourself that it's not a spending problem! It's a revenue problem right here: but don't want to pay for it.

You cut taxes, which reduces revenue, which results in deficits, which add to the debt, which you cry about and use as an excuse to cut spending, but which is entirely caused by the tax cuts you support.

So explain to me how your entire argument isn't just a big circle jerk, with you voluntarily eating the cracker?

 

[LV426]

You are seeing a tax benefit immediately, probably 3% tax cut already assuming you are in the 19 to 77 k income bracket filing jointly,
nearly the same filing single just slightly different income sprea

Everyone's taxes were cut. Everyone saw those cuts reflected in their checks. There's not some magic tax cut benefit that is going to appear out of thin air in April. What we have now is all the benefit anyone is ever going to see. Unless you're rich.

 

[LV426]

but in April 2019 and every April thereafter your standard deduction just doubled, goober, and that's cash. from 12k to 24K.

What if my deductions are in excess of $24K because I own multiple properties in states like CA and NJ? Oh, right, I'm screwed in that case.

Also, in contrast, 77% of tax filers with an AGI between $100,000 and $200,000 chose to itemize their deductions in 2014, with an average of $25,598 in deductions claimed.

Now is $25,598 > or < $24,000?

Use your brain for that one.

 

[LV426]

The corporate tax cut was to spurn growth, which it is doing, it's not magic and it won't happen overnight, (Jesus give me the strength I'm rationalizing with a moron with a 6th grade education)

You're right...it is spurning growth. Q1 2018 GDP growth was down 0.7%, and Q2 2018 GDP growth was inflated by at least a full point because of the tariffs. That effect isn't going to be there for Q3 and Q4 which will see output and productivity decline because of fewer inventory orders because you rushed to get the inventory out ahead of the tariffs.

Did you mean to say "spurring"? Those two words pretty much mean the exact opposite.

Aren't you one of those who claims to have a superior intellect? LOL! Nice.

We were also told that the tax cut would increase wages by $4,000-$9,000.

Actual average after-tax-income increase? $350 bucks.

 

[LV426]

I don't expect you to grasp what job growth will mean to the deficit, I'll keep it simple in an effort, more people working = more tax revenue.

Not if the jobs you're adding pay so low the workers qualify for benefits. That means more government spending, dingus. And wages haven't grown. They've fallen or stagnated. This was after you all promised wage increases of $4,000-$9,000 just 10 months ago.

Also 2018 is the slowest pace of job creation since 2017, which was the slowest since 20-fucking-11.

 

[LV426]

Your idea is let the government keep more of our money and they will then apply it properly to deficit reduction.

You're not keeping more of your money, you're keeping less.

Real wages have stagnated and/or declined, and inflation and health care costs eat up the $350 a year and then some, you get to keep thanks to the Russia Tax Cut.

So thanks to this tax cut, you actually end up keeping less because you have to pay more for health care & inflation.

What a fucking idiot.

 

[Grugore]

Federal deficit soars 32 percent to $895B

They said the Russia Tax Cuts would pay for themselves.

Tax cuts never pay for themselves.

Never.

Ever.

Build the wall, and we won't have to spend billions of dollars supporting a bunch of wet backs. The reason the deficit is so high is a direct result of how many people are getting welfare. One more thing. Tax cuts have never caused a recession. That has one cause. Overspending. Get rid of all illegals and we would save billions of dollars.

 

[TTQ64]

What's so disconcerting is the economy is in relatively good shape yet we refuse to cut spending. If we won't do it now when will we do it?

Exactly what do you want to cut that will help?

 

[Truth Detector]

Exactly what do you want to cut that will help?

Yo honestly don't think there is anything to cut in the Federal budget?

 

[Guno צְבִי]

Build the wall, and we won't have to spend billions of dollars supporting a bunch of wet backs. The reason the deficit is so high is a direct result of how many people are getting welfare. One more thing. Tax cuts have never caused a recession. That has one cause. Overspending. Get rid of all illegals and we would save billions of dollars.

talk about the poorly educated

 

[cawacko]

Even if you cut all discretionary spending, you're still running deficits higher than those Obama left behind.

In all this, none of you have been able to articulate exactly why you care about debts and deficits so much. Niether has any impact on your daily life. Neither has even had an effect on borrowing rates for the US government. So you run up deficits and debts with your tax cuts, then cry chicken little over the deficits that result from them.

What a fucking fraud. Who buys this shit?

A lot of things in politics don't affect our daily lives yet we still talk about them. And that does t make one a fraud. And our governments national debt does have an impact on our economy. If it didn't we would print money to statisty our every want. Right troll?

 

[cawacko]

Most of that is from your shitty tax cuts.

Your shitty tax cuts reduce revenue, which creates deficits, which adds to debt.

So if you were serious about debt and deficits, you wouldn't support tax cuts.

But here you are, complaining about a problem caused by the thing you support.

That makes your entire argument masturbatory. You cut taxes, which cuts revenue, which creates deficits, then bemoan the deficits you just created with your tax cuts.

What a fucking fraud.

Not at all troll. Cut taxes and cut spending. Not a difficult concept to understand unless you are here to troll.

 

[LV426]

Build the wall, and we won't have to spend billions of dollars supporting a bunch of wet backs. The reason the deficit is so high is a direct result of how many people are getting welfare. One more thing. Tax cuts have never caused a recession. That has one cause. Overspending. Get rid of all illegals and we would save billions of dollars.

Tax cuts absolutely caused a recession, and here's Bush the Dumber tying his tax cuts to the growth of the housing market in 2004:

Bush Ties Policy to Record Home Ownership
Touting his tax cuts as the economy's savior — and pointing to the strong housing market as proof — Bush said "more people own their own home now than ever." More than 50 percent of minorities owned their own homes in the last three months of 2003 for the first time ever, the president said.

And even if tax cuts don't cause recessions (they do), the increased deficits from those tax cuts hinder the government's ability to respond to a recession.

Stop.

 

[cawacko]

You're not keeping more of your money, you're keeping less.

Real wages have stagnated and/or declined, and inflation and health care costs eat up the $350 a year and then some, you get to keep thanks to the Russia Tax Cut.

So thanks to this tax cut, you actually end up keeping less because you have to pay more for health care & inflation.

What a fucking idiot.

Are you capable of having a big picture thought or does trolling not allow you to do that?

 

[LV426]

Exactly what do you want to cut that will help?

Pfft. Good luck getting a straight answer out of that loser.

Even if you cut all discretionary spending, you're still ending up with a higher deficit than the one Obama left.

 

[TTQ64]

You're like ten years behind the fucking curve, douchebag.

The recession is going to be caused not by the equities and housing markets, but by the drop in orders to produce inventory for Q3 and Q4. Your stupid, ham-fisted, brain-dead, moronic trade policies will result in higher consumer prices, and a drop in manufacturing and inventory output. That's 100% because of your shitty tariffs and trade policy. Your Russia Tax Cut exploded the deficit up to $900B, a level it hasn't been in 5 years, and that will hamstring government's efforts to curtail the impact from that recession caused by your shitty tariffs and shitty trade policies.

Your problem is that you don't give any forethought to anything you post or believe. It's all reactionary.




What spending do you want to cut?

Because the deficit is now $900B thanks to your shitty Russia Tax Cut.

So from where are you going to get that $900B to close the deficit your Russia Tax Cut caused?

Even if you cut all discretionary spending, and that includes things like the FBI, USDA, EPA, State Department, FAA, FTC, OMB, IRS, etc. you're still ending up with a deficit higher than the one Obama left.

So what do you want to cut and from where?

I think you'll come to realize we have a revenue problem, not a spending problem.

Been saying this for years on this board.

White people don't want their tax dollars going to help Blacks so the GOPigs create laws and lies that will limit the amount they pay.

They have been lying about taxes for decades.

 

[LV426]

A lot of things in politics don't affect our daily lives yet we still talk about them.

You seem to be posturing debt and deficit concern to frame a false argument on message boards.

So if the debt and deficit don't affect your daily life, why the fuck do you care so much about them?

Also, the deficits exist because of your shitty tax cuts. So you cut taxes, which cuts revenue, which creates deficits, which increases debt, which you use as an excuse to cut spending, when you could simply just repeal the tax cut and get back to square one.

You just don't want to admit that cutting taxes is a fucking sick joke, and that you got conned into believing that cutting them will somehow lead to better economic prospects, even though that has never happened ever, not once. Not ever.

 

[cawacko]

Pfft. Good luck getting a straight answer out of that loser.

Even if you cut all discretionary spending, you're still ending up with a higher deficit than the one Obama left.

Do you have any core political beliefs?

 

[TTQ64]

Thank you. And the problem with the not enough revenue argument is there will never be enough revenue for all that we would like to do so it reduces accountability. Otherwise you can waste and spend inneficiently yet all you have to say is we need more money. Government has proven over and over it is not good stewards with our tax dollars. They don't need to be rewarded with more

We collect and pay taxes to SPEND IT you fool.

 

[TTQ64]

Yup.

Conservatives loved Bush, until the results of his policies were unfavorable. So they tore off the Bush/Cheney shirts and stapled a few teabags to their faces to posture over debt. Then when the Teabags achieved nothing with the power they got, suddenly the teabags came off and magically the "freedom caucus" and MAGA emerged. Now, they're trying to do another rebrand, this time to "classical liberalism".

Other than them, who is fooled by this shit?

LMAOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

I aint......I have never been fooled by any of these racist fools on this board. If you support the republican party.......this is what you support.