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alt / alt.atheism / Re: Extending Trump Tax Cuts Would Add $4.6 Trillion to Deficit: CBO

Subject: Re: Extending Trump Tax Cuts Would Add $4.6 Trillion to Deficit: CBO
From: Skeeter
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From: skeeterweed@photonmail.com (Skeeter)
Newsgroups: alt.fan.rush-limbaugh,or.politics,misc,talk.politics.guns,rec.arts.tv,alt.atheism
Subject: Re: Extending Trump Tax Cuts Would Add $4.6 Trillion to Deficit: CBO
Date: Wed, 15 May 2024 20:26:43 -0600
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In article <XnsB173D6AF574BA629555@185.151.15.190>, noemail@aol.com
says...
>
> Skeeter <skeeterweed@photonmail.com> wrote in news:6645301a$0$7059
> $882e4bbb@reader.netnews.com:
>
> > In article <XnsB17355A52F9D6629555@185.151.15.160>, noemail@aol.com
> > says...
> >>
> >> pothead <pothead@snakebite.com> wrote in
> >> news:v20tgc$f3ai$5@dont-email.me:
> >>
> >> > On 2024-05-14, Yak <yak@inbox.com> wrote:
> >> >> On 5/14/2024 5:04 PM, Baxter wrote:
> >> >>> Skeeter <skeeterweed@photonmail.com> wrote in
> >> >>> news:6643c6af$0$3711196$882e4bbb@reader.netnews.com:
> >> >>>
> >> >>>> In article <XnsB172867C8C708629555@185.151.15.160>,
> noemail@aol.com
> >> >>>> says...
> >> >>>>>
> >> >>>>> Yak <yak@inbox.com> wrote in news:v1vv0t$6l2l$2@dont-email.me:
> >> >>>>>
> >> >>>>>> On 5/14/2024 11:02 AM, Baxter wrote:
> >> >>>>>>> Yak <yak@inbox.com> wrote in news:v1vml7$5qr6$2@dont-email.me:
> >> >>>>>>>
> >> >>>>>>>> On 5/13/2024 6:52 PM, Baxter wrote:
> >> >>>>>>>>> Skeeter <skeeterweed@photonmail.com> wrote in
> >> >>>>>>>>> news:66428aac$0$2363145$882e4bbb@reader.netnews.com:
> >> >>>>>>>>>
> >> >>>>>>>>>> In article <6642836f$0$6559$882e4bbb@reader.netnews.com>,
> >> >>>>>>>>>> "Charlie Glock"@localhost.com says...
> >> >>>>>>>>>>>
> >> >>>>>>>>>>> On 2024-05-13, Scout
> >> >>>>>>>>>>> <me4guns@verizon.removeme.this2.nospam.net> wrote:
> >> >>>>>>>>>>>>
> >> >>>>>>>>>>>>
> >> >>>>>>>>>>>> "Yak" <yak@inbox.com> wrote in message
> >> >>>>>>>>>>>> news:v1o9ok$24n0i$1@dont-email.me...
> >> >>>>>>>>>>>>> On 5/11/2024 8:05 AM, Scout wrote:
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> "Ford Prefect" <hhgttg@galaxy.com> wrote in message
> >> >>>>>>>>>>>>>> news:v1m2r4$1hjhg$3@dont-email.me...
> >> >>>>>>>>>>>>>>> On 5/10/2024 5:02 PM, spaminator wrote:
> >> >>>>>>>>>>>>>>>> Ford Prefect <hhgttg@galaxy.com> wrote:
> >> >>>>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>>>>> This one again?
> >> >>>>>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>>>>> Let's assume what the CBO says is correct (you can't
> >> >>>>>>>>>>>>>>>>> because it doesn't
> >> >>>>>>>>>>>>>>>>> account for the increased tax receipts that occur
> >> >>>>>>>>>>>>>>>>> under tax cuts), the IRS would have collected $4.6
> >> >>>>>>>>>>>>>>>>> billion per year (4.6B/year * 10 years = 4.6T).
> >> >>>>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>>>> ROFL. Your arithmetic skills are broke. Back to 3rd
> >> >>>>>>>>>>>>>>>> grade for you.
> >> >>>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>>> What's broke? Or were you educated at a public school?
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> 4.6B/year * 10 years = 46B
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> On the other hand, lets point out that difference is
> >> >>>>>>>>>>>>>> irrelevant given the sort of deficits the government
> is,
> >> >>>>>>>>>>>>>> has, and will continue to produce.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> We need to eliminate the power of government to add or
> >> >>>>>>>>>>>>>> increase any taxes.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> They get 15% of the GDP (federal, state and local) and
> >> >>>>>>>>>>>>>> they
> >> >>>>> have
> >> >>>>>>>>>>>>>> to live within their means like everyone else.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> Currently that would allow all levels of government to
> >> >>>>>>>>>>>>>> spend $3.81 Trillion.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> Another 5% would be applied directly to paying down the
> >> >>>>> existing
> >> >>>>>>>>>>>>>> state and national debts (and would not apply to new
> >> >>>>>>>>>>>>>> debt)
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> The FIRST budgetary item would be to pay the interest
> on
> >> >>>>>>>>>>>>>> any
> >> >>>>> new
> >> >>>>>>>>>>>>>> debt and paying off 5% of the principle of such debt.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> The Secondary budget item would be to service of any
> >> >>>>>>>>>>>>>> bonds sold to the public to finance large government
> >> >>>>>>>>>>>>>> projects.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> The FINAL budget item would be pay for the elected
> >> >>>>>>>>>>>>>> officials.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> In short, if the government is going into debt.. they
> >> >>>>>>>>>>>>>> don't get paid.
> >> >>>>>>>>>>>>>>
> >> >>>>>>>>>>>>>> Further they are prohibited from having any other
> sources
> >> >>>>>>>>>>>>>> of income.
> >> >>>>>>>>>>>>>
> >> >>>>>>>>>>>>> Let's take it even another step further. According to
> the
> >> >>>>>>>>>>>>> CBO
> >> >>>>> the
> >> >>>>>>>>>>>>> total deficts from the beginning of the Trump tax cuts,
> >> >>>>>>>>>>>>> and extending them through 2033, is about $31 trillion.
> >> >>>>>>>>>>>>> Subtract the $4.6 trillion Trump tax cuts and you still
> >> >>>>>>>>>>>>> have $26.4 trillion.
> >> >>>>> Am
> >> >>>>>>>>>>>>> I supposed to feel better about this? Especially
> >> >>>>>>>>>>>>> considering, as Ford correctly noted, even if the govt
> >> >>>>>>>>>>>>> collected it they would spend it anyway.
> >> >>>>>>>>>>>>
> >> >>>>>>>>>>>> As I said limit government spending to a percentage of
> the
> >> >>>>>>>>>>>> GDP.
> >> >>>>> If
> >> >>>>>>>>>>>> officials exceed those limits there are consequences.
> >> >>>>>>>>>>>>
> >> >>>>>>>>>>>
> >> >>>>>>>>>>> Both parties spend like drunken sailors and it needs to
> >> >>>>>>>>>>> stop.
> >> >
> >> >
> >> >>>>>>>>>>> My issue is more of a what are they spending my tax
> dollars
> >> >>>>>>>>>>> on? Are these bills productive or are millions of dollars
> >> >>>>>>>>>>> set aside to
> >> >>>>> study
> >> >>>>>>>>>>> how chickens mate?
> >> >>>>>>>>>
> >> >>>>>>>>> In the 50's and 60's we taxed the rich to pay for out
> >> >>>>>>>>> spending. We
> >> >>>>>>> can
> >> >>>>>>>>> do it again..
> >> >>>>>>>>
> >> >>>>>>>> The rich are already taxed.
> >> >>>>>>>>
> >> >>>>>>> Many of the rich don't pay any taxes.
> >> >>>>>>
> >> >>>>>> Many of the non-rich don't either.
> >> >>>>>>
> >> >>>>>
> >> >>>>>
> >> >>>>> Are you proud of paying more in taxes
> >> >>>>> than billionaire Trump?
> >> >>>>
> >> >>>> Really? You are scraping bottom.
> >> >>>>
> >> >>>
> >> >>> That's a real question. tRump claims to be a billionaire yet
> picks
> >> >>> your pocket and cheats on taxes.
> >> >>
> >> >> Nope, he used the very tax code that Biden, over his 2000+ years in
> >> >> govt, has created.
> >> >
> >> > Yep.
> >> > The rich use the loopholes to their advantage. I am against that but
> >> > it's the current system. Somebody making 40k a year does not have
> that
> >> > ability.
> >>
> >>
> >> The rich MAKE the loopholes, the
> >> rich use the loopholes, and you really
> >> think they "apply across the board"?
> >
> > He never said they did.
> >
>
> Remarks by President Trump at
> Signing of H.R. 1, Tax Cuts and
> Jobs Bill Act, and H.R. 1370
> December 22, 2017
> https://trumpwhitehouse.archives.gov/briefings-statements/remarks-
> president-trump-signing-h-r-1-tax-cuts-jobs-bill-act-h-r-1370/
>
>
> "The corporate tax rate, as you know,
> will be lowered from 35 to 21 percent."
>
>
> Did YOUR tax bill go down by 14%?
>
>
> "This is the biggest tax cuts and reform
> in the history of our country. This is
> bigger than, actually, President Reagan?s
> many years ago."
>
>
> That would be the tax cut that
> doubled the entire federal debt.
>
>
>
> "We?re going to bring back our companies.
> They?ve already started coming back."
>
> In fact the Trump policy ACCELERATED
> the pace of US companies moving jobs
> overseas.
>
> https://tinyurl.com/49mw7era
>
>
>
>
>

Is this anything?

SubjectRepliesAuthor
o Extending Trump Tax Cuts Would Add $4.6 Trillion to Deficit: CBO

By: Borrow & Spend t on Fri, 10 May 2024

239Borrow & Spend tRUMP

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