Richard Wolff tells Marc Lamont Hill “never did we need a tax cut for corporations & the rich LESS than now. Rich got 40 yrs of wealth redistribution”

[Arithmetic]

3:12-5:00

Tells Marc these tax cuts are coming after a 40 year period of wealth redistribution from the poor to the rich. Basically saying yall got 40 years of wealth redistribution, and NOW you want a tax cut?

 

[Arithmetic]

If you ever hear a Republican say the word “deficits” again, make sure you hit them with the Charlie Murphy laugh:

 

[Vandelay]

Short-term bull, long-term pull.

 

[invalid]

If you ever hear a Republican say the word “deficits” again, make sure you hit them with the Charlie Murphy laugh:

the thing that I don't get with republicans with their talking points about the country's debt is that the debt is not due immediately. if we bring in $5 trillion in inflows from gdp in one year, that $7 trillion in debt is not due in that year. a lot of the debt is not due until five, ten, twenty years from now. yes, we don't need to be saddled with debt. but we do bring in enough to cover our current debt and have never defaulted which is why this country has had a perfect credit rating. this shyt is just so disingenuous.

 

[Traveler]

The next Non GOP administration is going to have so much to fix.

 

[ORDER_66]

Look the govt has allowed the uber rich and the elites to run amok and now we are paying the price... theres only so much blood you can squeeze from a stone... Lets keep it 100 the democrats have allowed this on their watch too... #BOTHSIDES are guilty...

 

[Arithmetic]

the thing that I don't get with republicans with their talking points about the country's debt is that the debt is not due immediately. if we bring in $5 trillion in inflows from gdp in one year, that $7 trillion in debt is not due in that year. a lot of the debt is not due until five, ten, twenty years from now. yes, we don't need to be saddled with debt. but we do bring in enough to cover our current debt and have never defaulted which is why this country has had a perfect credit rating. this shyt is just so disingenuous.

This is not a defense of them, but your post has some inaccuracies. About 30-40% of the debt is short-term debt expiring in 1 year. The 5 trillion in inflows is from taxes and other sources, so it’s not really “from GDP”, but a component. Lastly, the US no longer has a AAA credit rating from all major rating agencies. Moody's downgraded the U.S. credit rating to Aa1 from Aaa couple months ago same with Fitch and the S&P years back. Also, I personally think the interest payments will outpace revenue and that should be a big concern.

The issue is they keep inflating the debt they claim to hate in the must destructive way: tax cuts to the rich and corporations.

 

[Pull Up the Roots]

The next Non GOP administration is going to have so much to fix.

They won't even get the chance to fix it before they're voted out again, because voters have short memories and expect instant results.

 

[invalid]

About 30-40% of the debt is short-term debt expiring in 1 year.

this is true.

The 5 trillion in inflows is from taxes and other sources, so it’s not really “from GDP”, but a component.

this is also true. but you'll notice with republican talking points, the debt is always backed up against gdp.

Lastly, the US no longer has a AAA credit rating from all major rating agencies. Moody's downgraded the U.S. credit rating to Aa1 from Aaa couple months ago same with Fitch and the S&P years back.

this is also true which is why i said "has had". however the downgrade is specifically due to the credit agency predicting political economic instability via the trump administration not because of historical defaults. I've posted about the country's credit rating on here before.

Also, I personally think the interest payments will outpace revenue and that should be a big concern.

i actually agree with this and this is a concern.

whole point is the republican talking points around this topic are half truths that don't provide for nuance. and it's solely to play into the conservative agenda even though, in reality, they don't give af about the country's debt, as you can see from recent events.

 

[WhereIsTheLove]