Posted on 08/09/2024 10:20:57 AM PDT by E. Pluribus Unum
Former President Donald J. Trump keeps adding new tax cuts to his list of campaign promises, and their projected costs keep piling up.
(Excerpt) Read more at nytimes.com ...
Doesn’t matter at this point anymore, just keep on doing what you been doing..
Attention financial wizards ( most Americans are not), which country in all of history has ever prospered with raising taxes? Answer: None.
Decreasing taxes is first and foremost action in protecting citizens and stimulating the economy. But, as our debt is mathematically impossible to pay off, much financial pain is dead ahead.
The best we can hope for is a Trump administration that can manage the finacial crash with citizens in mind, not banks.
Hey, NYT and Paul Krugman (idiot extraordinare).
Cut government spending and everything will take care of itself.
Cut government regulations and watch GDP growth.
Without inflation.
5.56mm
When Ronald Reagan was sworn in on January 20, 1981, the IRS was taking in $500 billion per year.
When he left office eight years later, the IRS was taking in $950 billion per year, even with substantial, across the board tax cuts.
These left-wing dunderheads think the pie is finite when in reality, the pie can expand dramatically if taxes and regulations are cut and businesses and individuals are motivated to produce more.
Same thing happened during Trump’s first term and will happen again during his second.
see argentina
I think removing tax from Social Security is fair and proper.
Trump says that we have many ways to make money in the USA.
Seniors with extra income will save and spend.
Great idea.
Any gains from tax cuts will be offset by the massive deficits, and debt. Your individual taxes might go down, but the debt on your kids and grand kids will continue to rise.
Tax cuts are not costs. Federal spending on things it has no business spending on are costs.
“Tax revenue increased after Trump’s tax cuts in 2017.”
That illustrates the strategy needed: do various things that make the economy work more efficiently. Then the economy generates oodles of tax revenue.
Now, in America, we need to stop strangling our economy with regulations.
The left doesn’t let things like facts get in the way of their political beliefs.
Unmentioned, of course, are the greatly increased revenues from tarrifs, drilling, or economic expansion following the reduction of the cost of energy.
Every price is tied to the cost of producing and transporting the product. Lower those costs, and the economic expansion follows. Throttle the fed printing ‘stimulus’ money. This is 80-90% of what is needed to restrain inflation and is PDTJ’s platform.
Kamela has no platform, so there cannot be any discussion of the predicted results, which is exactly what the democrats plan.
...and was about $24 trillion when he left, mainly because the House, and spending, was controlled by Democrats. Contrast the $4 trillion Trump added, even with COVID, to the $11 trillion Biden's added in just 3 years!
Oil and gas. Fracking. Brings down energy costs.
No funding bogus green new deal projects.
No feeding. Clothing. Housing illegals.
Tax revenues increased after Kennedy’s tax cut and after Reagan’s tax cut. Works every time. The bad news for the Democrats/Communists is that tax cuts increase prosperity which is regarded as anathema.
What is interesting is if this plan were proposed by Harris, the NYT would say it was a fantastic plan. The NYT is not a publication that anyone with an ability to think should take seriously on anything — they are too corrupt and are basically democrat propaganda machine.
Good post.
Thank-you.
Economics was one of my majors in college a LONG time ago.
I’m glad my parents didn’t waste their money....LOL!
When Newt and Congress drastically reduce the capital gains rate, the money came in so fast they couldn’t spend it. Grew the economy and got us to a on paper balanced budget.
Of course, Clinton took credit fir it and , as usual, the GOP let them.
And under Coolidge.
I have a bachelors and masters in Economics.
Never earned a dime. I did corporate accounting instead. 25 years in 4 and 5 star large hotels.
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