GOP Tax Cut Exploding the Deficit

[babylonsister]

Of course it is.

https://politicalwire.com/2018/07/26/gop-tax-cut-exploding-the-deficit/


GOP Tax Cut Exploding the Deficit

July 26, 2018 at 5:13 am EDT By Taegan Goddard

“The amount of corporate taxes collected by the federal government has plunged to historically low levels in the first six months of the year, pushing up the federal budget deficit much faster than economists had predicted,” the New York Times reports.

“The reason is President Trump’s tax cuts. The law introduced a standard corporate rate of 21 percent, down from a high of 35 percent, and allowed companies to immediately deduct many new investments. As companies operate with lower taxes and a greater ability to reduce what they owe, the federal government is receiving far less than it would have before the overhaul.”

[democratisphere]

1. One of the redumbliCONS most bitched about subjects with Obama

was the ever increasing national debt. redumbliCONS are the biggest f'ing hypocrites in the universe; I am certain of that!

[shraby]

4. They wouldn't even let him repair our roads and bridges because of the deficit. Well Ollie,

look at the fine mess they've got us in.

[Achilleaze]

2. And republicans lie and call themselves "conservatives"

what utter radical republican horseshit.

[rusty quoin]

3. Huh? What happened?

[Scarsdale]

5. This plus the

tRump family expenses are much higher than ANY other WH family EVER. The "boys" business trips overseas are very costly, plus tRump's golf outings are massively expensive.

[Cicada]

6. Trump has increased taxes, but has delayed payment

The real tax rate is the rate of spending, because all spending must be paid with taxes. Trump greatly increased spending with increases in military spending.so he has increased taxes, overall. His tax bill only delays when the taxes are paid. Trump increases what we charge on credit cards but reduces the amount we pay each month. The added interest cost only makes things worse.

It is incorrect to say Trump has cut taxes. He has only delayed when taxes will be paid.

[Trust Buster]

8. Not true with corporate taxes.

[Cicada]

9. I agree he cuts taxes for corps as part of an overall tax hike

Trump raises taxes overall, he only delays when they are paid. But he also changes who pays those taxes. Corporations and other businesses will pay much less tax while the overall tax increase will be paid for by others.

[Trust Buster]

7. I thought tax cuts pay for themselves ?

[duforsure]

10. They lied , and will again

This was a scam all along giving billions to the wealthiest people in this country for backing them and their campaigns, and they were bribed to do this for them. They even threatened them if they didn't pass them for themselves they'd stop funding them and their campaigns any longer. They also put into it taking health care away from millions of people, and reducing Medicare , Medicaid , and their upcoming goal is to use it to destroy Social Security with. All republicans should be voted out of office for this ASAP, and they even want another round of tax cuts to use to make the deficit rise to use again to take all programs and benefits of the middle class and the poor away from us. Reverse robin hood is their policies from these republicans, and wealthy welfare for themselves. Social Security will be destroyed if they have their way, and they aren't voted out of office ASAP.