It’s Official: The Trump Tax Cuts Didn’t Pay for Themselves in Year One

[Robbie3000]

so the tax cuts absolutey DID work. the problem is that america spends too much

sounds about right

No one ever doubted tax cuts can increase growth, just the claim that the resulting growth would be enough to cover the lost revenue(taxes).

But, i'm sure you know this and are just trying obfuscate things.

 

[Pressure]

what part of "the tax cuts worked, but both democrats and republicans spend too much money" is incorrect?

sad that objective observations constitute shilling. and you're confused about what the narrative is in here

The tax cuts didn't pay for themselves and they're the number 1 driver of the deficit.

 

[Pressure]

Just caught that this article acknowledges the tax cuts helped grow the economy...

Didn't grow it to target that was used for their justification.

The tax cuts were a failure.

 

[the cac mamba]

The tax cuts didn't pay for themselves and they're the number 1 driver of the deficit.

uh, no. that would be reckless, bullshyt ass spending

but yes, clearly they didnt pay for themselves. i wasnt arguing that. just that they seemed to have 'worked'

 

[Pressure]

uh, no. that would be reckless, bullshyt ass spending

but yes, clearly they didnt pay for themselves. i wasnt arguing that. just that they seemed to have 'worked'

Providing a 1.5 trillion dollar Tax cut while in debt is indeed reckless spending.

 

[the cac mamba]

Providing a 1.5 trillion dollar Tax cut while in debt is indeed reckless spending.

no one is mad

 

[Hood Critic]

The usual suspects miss/ignore the obvious as usual, growth was never really the question. The question was with the distribution of the growth and how it would long term affect the deficit.

 

[hashmander]

the argument was that growth would be so big that it would result in increased revenue. that's always been the republican argument for tax cuts. no one argued that tax cuts can't result in short term growth, it's a stimulus for fukks sake. the argument against it (particularly when not in a recession) was that it would not result in enough growth to offset the losses.

 

[Berniewood Hogan]

Yeah but they "worked"

can't tell you in what way though

 

[88m3]

I see our resident conservatives didn't read the article or aren't capable of understanding it. Starting to lean towards bots

 

[the cac mamba]

Yeah but they "worked"

can't tell you in what way though

personally, i can point to my company giving double raises last year, which they havent done the whole 6 years ive been here

nationally, you can look at the GDP growth. and the fact that if hypothetically spending had been cut, it would have been a real success instead of a fake one

but of course the republicans didnt cut spending, so

 

[DEAD7]

I love how the deficit goes from not mattering to being really important when it suits an argument...


The nonpartisan CBO has a page of deficit cutting solutions, damn there all of which are cut spending, but Dems don’t wanna hear that

 

[DEAD7]

Didn't grow it to target that was used for their justification.

The tax cuts were a failure.

Fair enough

 

[Futuristic Eskimo]

personally, i can point to my company giving double raises last year, which they havent done the whole 6 years ive been here

nationally, you can look at the GDP growth. and the fact that if hypothetically spending had been cut, it would have been a real success instead of a fake one

but of course the republicans didnt cut spending, so

It is obvious that higher deficit = higher GDP because federal deficit is a direct input into the calculation for GDP. By saying that when the deficit is up, all else Equal, GDP is up is saying literally nothing of substance other than repeating the way the calculation is done

It's economic window dressing done for political purposes and so corporates can receive a cash windfall to buy back stock while dudes repeat meaningless talking points. This is not even getting into the pure stupidity of passing a fiscal stimulus while pursuing the policy of trying to shrink the trade deficit at the same time.

How does anyone defend this nonsense? It is self evident that Americans are getting robbed.

 

[the cac mamba]

It is obvious that higher deficit = higher GDP because federal deficit is a direct input into the calculation for GDP. By saying that when the deficit is up, all else Equal, GDP is up is saying literally nothing of substance other than repeating the way the calculation is done

It's economic window dressing done for political purposes and so corporates can receive a cash windfall to buy back stock while dudes repeat meaningless talking points. This is not even getting into the pure stupidity of passing a fiscal stimulus while pursuing the policy of trying to shrink the trade deficit at the same time.

How does anyone defend this nonsense? It is self evident that Americans are getting robbed.

let me sum up my post in a sentence: it wasnt all bad

a lot of peoples checks got bigger. seen plenty of dudes say it on this site, not in HL of course

and i dont want the dems to raise my taxes again when they get in office. i want them to cut spending