Republicans aren’t going to tell Americans the real cause of our $31.4tn debt

B

BidenPresident

Verified User
It’s always the same when Republicans take over a chamber of Congress or the presidency. Horrors! The debt is out of control! Federal spending must be cut!

When they’re in power, they rack up giant deficits, mainly by cutting taxes on corporations and the wealthy (which amount to the same thing, since wealthy investors are the major beneficiaries of corporate tax cuts).

Then when Democrats take the reins, Republicans blame them for being spendthrifts.

Not only is the Republican story false, but it leaves out the bigger and more important story behind today’s federal debt: the switch by America’s wealthy over the last half century from paying taxes to the government to lending the government money.

https://www.theguardian.com/comment...ll-americans-the-real-cause-of-our-314tn-debt
 
BidenPresident said:
It’s always the same when Republicans take over a chamber of Congress or the presidency. Horrors! The debt is out of control! Federal spending must be cut!

When they’re in power, they rack up giant deficits, mainly by cutting taxes on corporations and the wealthy (which amount to the same thing, since wealthy investors are the major beneficiaries of corporate tax cuts).

Then when Democrats take the reins, Republicans blame them for being spendthrifts.

Not only is the Republican story false, but it leaves out the bigger and more important story behind today’s federal debt: the switch by America’s wealthy over the last half century from paying taxes to the government to lending the government money.

https://www.theguardian.com/comment...ll-americans-the-real-cause-of-our-314tn-debt
Click to expand...

The guardian???? Lmfao
 
Yakuda said:
The guardian???? Lmfao
Click to expand...

Regardless the source, he is correct, common sense, you cut tax on the rich and corporations at the same time you are filling the pockets of the rich while dramatically cut revenue. Irony is that with a good economy there is no reason to cut tax, last thing you want to do is add unnecessary currency
 
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