By using this site, you agree to our Privacy Policy and our Terms of Use. Close

Forums - Politics Discussion - Trump's Tax Plan Would Add $5.3 Trillion To National Debt

Soundwave said:
Gourmet said:

Whooops it looked so click-baity I didnt bother checking if there was a source stated. It's The Committee for a Responsible Federal Budget, dunno who they are though.

 

Also the fourth paragraph "When Trump introduced his economic plan last week, he vowed that his tax cuts would be paid for partly by triggering record economic growth. The committee was skeptical and presumed these steps would generate no new growth."

How does that even make sense? No growth from tax reducing? We're expected to believe the money will go under someone's bed? This article IS click-bait.

It's been shown in several studies that tax cuts don't grow the economy. 

http://www.businessinsider.com/study-tax-cuts-dont-lead-to-growth-2012-9

Rich people just take those tax cuts and hoarde the money for themselves, they don't "trickle it down" to the average peons, the whole point is to keep as much for yourself as possible and push it into off-shore tax havens.

Trump and others have parroted this line of tax cuts spurs the economy for the "middle class", if that was true the middle class of today should be much more prosperous than say the 1960s when taxes on higher income brackets were far higher. But that is not the obvious reality. 

Because tax evasion does not exist and neither does tax close any businesses, right?



Around the Network
Gourmet said:
Soundwave said:

It's been shown in several studies that tax cuts don't grow the economy. 

http://www.businessinsider.com/study-tax-cuts-dont-lead-to-growth-2012-9

Rich people just take those tax cuts and hoarde the money for themselves, they don't "trickle it down" to the average peons, the whole point is to keep as much for yourself as possible and push it into off-shore tax havens.

Trump and others have parroted this line of tax cuts spurs the economy for the "middle class", if that was true the middle class of today should be much more prosperous than say the 1960s when taxes on higher income brackets were far higher. But that is not the obvious reality. 

Because tax evasion does not exist and neither does tax close any businesses, right?

Here's the thing "middle class" people don't understand. The game is rigged against you. Rich people hire accountants, lobbyists, attorneys to make sure they keep every last cent as much as they can.

And with a global economy they're under no obligation to invest their money in any way, shape, or form that would benefit the average joe. They can invest in China, India, not some plant in Ohio. 

Cutting taxes on mega-rich individuals/companies is like saying you need to get lighter to run faster, so cutting your feet off is a good idea. It doesn't work.



Mar1217 said:
It's an impossible dilemma. In one corner you have Worse and on the other you have Even Worse. Now, who would you choose ? Don't forget, you're going to lose in both case.

It's not that impossible, I wish people would stop parroting this excuse of "they're both the same". No they're not. 



To be honest neither Trump or Clinton will bring the debt under control.

Obama added 9-10 trillions dollars to the debt and that is with some austerity and no large massive government spending plans after the 2009 Stimulus really....

So I think Trump and Clinton proposals would be a disaster with either massive spending or massive cuts and remember entitlement spending will start to accelerate soon.



Soundwave said:
Gourmet said:

Because tax evasion does not exist and neither does tax close any businesses, right?

Here's the thing "middle class" people don't understand. The game is rigged against you. Rich people hire accountants, lobbyists, attorneys to make sure they keep every last cent as much as they can.

And with a global economy they're under no obligation to invest their money in any way, shape, or form that would benefit the average joe. They can invest in China, India, not some plant in Ohio. 

Cutting taxes on mega-rich individuals/companies is like saying you need to get lighter to run faster, so cutting your feet off is a good idea. It doesn't work.

Piketty is that you?



Around the Network
Soundwave said:
Gourmet said:

Whooops it looked so click-baity I didnt bother checking if there was a source stated. It's The Committee for a Responsible Federal Budget, dunno who they are though.

 

Also the fourth paragraph "When Trump introduced his economic plan last week, he vowed that his tax cuts would be paid for partly by triggering record economic growth. The committee was skeptical and presumed these steps would generate no new growth."

How does that even make sense? No growth from tax reducing? We're expected to believe the money will go under someone's bed? This article IS click-bait.

It's been shown in several studies that tax cuts don't grow the economy. 

http://www.businessinsider.com/study-tax-cuts-dont-lead-to-growth-2012-9

Rich people just take those tax cuts and hoarde the money for themselves, they don't "trickle it down" to the average peons, the whole point is to keep as much for yourself as possible and push it into off-shore tax havens.

Trump and others have parroted this line of tax cuts spurs the economy for the "middle class", if that was true the middle class of today should be much more prosperous than say the 1960s when taxes on higher income brackets were far higher. But that is not the obvious reality. 

Well, the article is half right. Tax cuts can help struggling economies; but they have to be carefully placed. Cutting corporate taxes is one of the primary strategies that public administrators use to encourage start ups to open and pre-existing businesses to open new plants in their communities. The key is to ensure that you're placing tax cuts in specific locations; a simple tax decrease across the country won't work. They need to be deliberately placed in areas that are struggling with job creation but have the potential to grow with a well placed tax cut. In other words, the focus on growing the economy needs to be less concerned with the national sphere and more focused on individual cities and communities.

Another big problem is tax cuts are often placed on income tax, which is less effective than corporate tax or sales tax, but that's a different issue for a different topic. Long story short, tax cuts can be helpful, but they need to be positioned carefully.



Mar1217 said:
Soundwave said:

It's not that impossible, I wish people would stop parroting this excuse of "they're both the same". No they're not. 

Never said that. They're both different, but both will do nothing good for your country,that's it. This politic system(Congress, US Senate) will keep the status quo don't worry ;)

The saddest thing about that is I read a statistic that something like 50% of the American don't even know the three branches of their own government. 



Gourmet said:
Soundwave said:

Here's the thing "middle class" people don't understand. The game is rigged against you. Rich people hire accountants, lobbyists, attorneys to make sure they keep every last cent as much as they can.

And with a global economy they're under no obligation to invest their money in any way, shape, or form that would benefit the average joe. They can invest in China, India, not some plant in Ohio. 

Cutting taxes on mega-rich individuals/companies is like saying you need to get lighter to run faster, so cutting your feet off is a good idea. It doesn't work.

Piketty is that you?

I'm actually quite well off. Just telling it like it is. 



People are working overtime to make sure Trump doesn't win. Aren't yoh Canadian, TC?



Fuck it I'm done paying attention to this election. This shit just makes my head hurt at this point. I don't care who wins let's just try again in 4 years but with better candidates.