Dusty Bake Activate
Fukk your corny debates
6:45
Newt Gingrich admits Trump's economic plan is bullshyt
- Thread starter Dusty Bake Activate
- Start date
Dusty Bake Activate
Fukk your corny debates
Goes to show how thin the GOP is in serious politicians.
Donald Trump Pitches Tax Breaks Amid Speech Interruptions
Today Donald Trump delivers a luncheon address to the Detroit Economic Club, the venue of presidential candidates who want to put forward “serious” economic ideas. But Trumponomics isn’t serious. Much has been said about Trump’s anti-trade stance, and he'll play up tiny tax breaks for the middle class (see the puff piece in today's Wall Street Journal, below). But the heart of his economics is a humongous tax cut for the rich that will explode the federal budget deficit.
1. ...He wants to lower the highest marginal tax from today’s 36.8 percent to 25 percent – thereby granting the richest 1 percent an average tax cut of $275,000 a year and the top 0.1 percent, with incomes of more than $3.7 million a year, with a whopping $1.3 million tax cut each year.
2. He wants to cap all business taxes at 15 percent – thereby giving hedge-fund and private-equity managers an extra gift.
3. He’ll end the estate tax, which will give the richest even more.
4. He’ll exempt all childcare expenses from taxation (a bigger boon to the rich who pay more taxes than the poor, who pay little or none).
5. The plan would reduce federal revenues by $9.5 trillion over its first decade before accounting for added interest costs or considering macroeconomic feedback effects. Unless accompanied by huge spending cuts, this would increase the national debt to nearly 80 percent of GDP by 2036.
6. He also promises to use executive powers to impose a ban on new regulations to protect the public’s health and safety, and protect the environment.
Bottom line: Trumpononomics is Reaganomics on steroids -- trickle-down economics turned into Niagara Falls.
Not surprising. On Friday he announced a team of economic advisers consisting of billionaires, bankers and fund managers.
Today Donald Trump delivers a luncheon address to the Detroit Economic Club, the venue of presidential candidates who want to put forward “serious” economic ideas. But Trumponomics isn’t serious. Much has been said about Trump’s anti-trade stance, and he'll play up tiny tax breaks for the middle class (see the puff piece in today's Wall Street Journal, below). But the heart of his economics is a humongous tax cut for the rich that will explode the federal budget deficit.
1. ...He wants to lower the highest marginal tax from today’s 36.8 percent to 25 percent – thereby granting the richest 1 percent an average tax cut of $275,000 a year and the top 0.1 percent, with incomes of more than $3.7 million a year, with a whopping $1.3 million tax cut each year.
2. He wants to cap all business taxes at 15 percent – thereby giving hedge-fund and private-equity managers an extra gift.
3. He’ll end the estate tax, which will give the richest even more.
4. He’ll exempt all childcare expenses from taxation (a bigger boon to the rich who pay more taxes than the poor, who pay little or none).
5. The plan would reduce federal revenues by $9.5 trillion over its first decade before accounting for added interest costs or considering macroeconomic feedback effects. Unless accompanied by huge spending cuts, this would increase the national debt to nearly 80 percent of GDP by 2036.
6. He also promises to use executive powers to impose a ban on new regulations to protect the public’s health and safety, and protect the environment.
Bottom line: Trumpononomics is Reaganomics on steroids -- trickle-down economics turned into Niagara Falls.
Not surprising. On Friday he announced a team of economic advisers consisting of billionaires, bankers and fund managers.
Mantis Toboggan M.D.
I’m here for the scraps
That shyt sounds disastrous on the levels beyond a George bush presidency
The National Debt is $19 trillion and counting.
Trump will have it at about $40 trillion after his term is over.
Mantis Toboggan M.D.
I’m here for the scraps
It amazes me that people would want to vote for a party who has a president who tripled the debt and another who doubled it in the last 35 years. This shyt is entirely "just cut corners everywhere to give the wealthiest people more money they don't have enough years left to spend"
The Fox reporter/s should have been sharp and checked Newt on the spot.
Two instrumental politicians regret repealing banking regulations – a review of Glass-Steagall
Two instrumental politicians regret repealing banking regulations – a review of Glass-Steagall
John McCain and Elizabeth Warren have a bill in the Senate to restore Glass-Steagall.
GOP and DNC both have it in their party platforms.
i'd doubt if any weak congress(both parties) could get it passed.
the, i don't know how many Quadrillion Derivatives Market has taken on a life of it's own with very powerful and well connected behind the scenes players protecting their casino.
Newt is right..nobodys numbers ever add up on campaign...At least trump has a good idea what business need to get going..less taxes and less red tape,reinstate Glass steagall and getting out of those predatory trade deals.
Spitta Andretti
Rookie
Honestly in some ways debt doesn't truly matter for the US. This country will always run fine and still be in debt:
Btw Obama doubled our debt so dont act like debt is made worse by only one side
Btw Obama doubled our debt so dont act like debt is made worse by only one side
Spitta Andretti
Rookie
Oh so we're not paying for the actions of the current president?
Let's just forget about the numerous proxy wars Obama has put us in throughout his 2 terms breh.
Let's ignore the emperor of drone strikes Barack Hussein Obama breh.
