US government is running out of money faster than expected, Mnuchin warns

[Flash]

The entitlement you have is that raising taxes on the wealthy only nominally increases rev-GDP and therefore, since the increase is nominal, it's irrelevant. It's not bestowed on you just for existing.

That was never my position. I never claimed tax cuts increase or decrease revenue. I just showed that the high (90%) top tax rates in the 1950's raised less revenue as a percent of GDP than the lower rates later.

My position on tax rates has nothing to do with how much revenue it raises--it is based on the government's atrocious record in spending our money and the fact that people are better at spending their money than the government and consumer spending is the biggest part of our economy.

"Entitlement" is just a liberal buzzword invented by a focus group as a way to denigrate others.

[Vasquezrocks]

trump's trips far exceed Obama's already, and he funnels taxpayer money into his pockets each time he goes to one of his properties.

$12.7 million less than Obama .....

[Into the Night]

When did Trump go to Hawaii ?? Total retard !

During a campaign trip. Perhaps you've forgotten it.

[Into the Night]

trump's trips far exceed Obama's already, and he funnels taxpayer money into his pockets each time he goes to one of his properties.

??? How??? Trump stays rent free at his own properties!

[Into the Night]

That was never my position. I never claimed tax cuts increase or decrease revenue. I just showed that the high (90%) top tax rates in the 1950's raised less revenue as a percent of GDP than the lower rates later.

Wups. Another paradox. Which is it, dude?

My position on tax rates has nothing to do with how much revenue it raises--it is based on the government's atrocious record in spending our money and the fact that people are better at spending their money than the government and consumer spending is the biggest part of our economy.

A good position to take. Indeed, this is the position of capitalism.

"Entitlement" is just a liberal buzzword invented by a focus group as a way to denigrate others.

Socialism, because it can only exist by stealing wealth, must denigrate others...namely the ones that are having their wealth stolen.

[LV426]

That was never my position. I never claimed tax cuts increase or decrease revenue. I just showed that the high (90%) top tax rates in the 1950's raised less revenue as a percent of GDP than the lower rates later.

OMFG.

Now I feel like you are being deliberately obtuse because you just don't want to admit that this argument you spent so much time crafting from a position of entitlement is pointless and stupid.

You keep harping on this rev-GDP number as if it somehow is an indicator of actual revenue but what you fail to account for are a few things:

1. You fail to account for the fact that even nominal changes to rev-GDP by way of tax increases -not just on individuals but also corporations- have dramatic effects on real revenue.

2. GDP usually increases each year, yet tax rates do not, so of course the rev-GDP percentage won't accurately reflect the impact of tax rates on revenue. You're increasing GDP but keeping tax rates the same...what does that mean for your stupid math?

3. YOU POSTED A LINK showing that rev-GDP, over the last 10 years, has dropped as low as 14% and risen back up to 17%...which is a difference of $660B in today's dollars.

My position on tax rates has nothing to do with how much revenue it raises

Yes it does! That is the argument you are stupidly making whether you realize it or not. Your argument is that raising taxes doesn't increase rev-GDP that much, therefore tax increases don't increase revenue because, DERP, look at how the rev-GDP number doesn't change...except when it does...which is every year...by factors you think are nominal when viewed through the prism of this narrow metric, but are actually significant in terms of real dollars.

-it is based on the government's atrocious record in spending our money

Oh for fuck's sake...

The waste is in the tax cuts. It always is. Most spending programs today have been cut to the bone, so much so that they are operationally dysfunctional. That's by design; weaken funding for social programs, throwing their operations into dysfunction, then pointing at that dysfunction as an example of wastefulness. You clods have been running that same, stupid play for the last 40 years and now it's not returning shit on its investment anymore because you've been so overt about it, and because people have figured it out.

Tax cuts are wasteful spending. Tax cuts are what creates deficits. Tax cuts have never once delivered on any of the promises made of them.

So because of that, why are you still arguing in favor of them? Are you fucking stupid or just an egomaniac who can't bring himself to admit he's wrong?

[LV426]

the fact that people are better at spending their money than the government and consumer spending is the biggest part of our economy.

Hey fucknut, if that's the case, how then do you account for the fact that since 1980, after taxes are cut, personal savings plummets and household debt increases?

That doesn't indicate people are better at spending their money than the government, that indicates people have to borrow money and go into debt to make up for the gap that comes from the cuts to social services.

For example: when you cut education spending because of deficits that came from tax cuts, you end up raising state tuition which forces people to borrow more to get an education. When you cut health care spending because of deficits that came from tax cuts, you end up raising out of pocket health care costs for people who then have to borrow more to pay for health care, or they declare bankruptcy, which they did. An overwhelming majority of personal bankruptcies are the result of...wait for it...HEALTH CARE COSTS. But, if health care costs were reduced or eliminated by tax increases that establish a single payer system, suddenly no one goes bankrupt from health care costs anymore, and people then suddenly have more money to spend in the consumer economy because they don't have to spend it on health care costs.

I'll even give you a recent, real-world example of how your philosophy is so fucking stupid, it should be utterly trashed in every public space, and you should be marginalized and ignored: In Kansas, Conservative morons like you decided to cut taxes. Predictably, that erased surpluses the state had previously enjoyed, raided the Highway Fund, and resulted in cuts to state education. Because of those cuts, the Kansas State Board of Regents had to increase in-state tuition for students. Now, increases to tuition results in what for students and their families? Increased borrowing. So...because you cut taxes, the state had to cut education spending in order to balance the budget because of a STUPID BBA, and that forced the State University Board of Regents to increase tuition costs to make up for the drop in funding from Topeka thanks to the tax cuts. So all those students in Kansas had to borrow more money to pay for tuition to a State school because you fucking morons just had to cut taxes because you thought, stupidly, that "people are better at spending their money than the government"...even though there's no fucking proof of that, and even though government spending, not personal spending, is what provides for most of the things you take for granted today.

What a fucking idiot.

[LV426]

consumer spending is the biggest part of our economy.

Right, but if you cut taxes, which leads to cuts to things like education and health care, you can't spend in the consumer economy because you ahve to spend more for education and health care.

So you cut taxes, which reduces revenue, which leads to cuts to health care and education, which results in having to borrow and/or spend more in those places, and not in the consumer economy.

Do you understand that, or do I need to draw a picture?

[Truth Detector]

You are not wrong in any way about the excess spending of the Obama administration. But what has Trump or the (previous) Republican Congress done about it? Nothing. The biggest spending items on the federal ledgar are entitlements (S.S., Medicare etc) and the military. Trump ran on not touching entitlements and increasing military spending. We have a booming economy yet still have massive deficits that are only increasing.

Republican Congress? Try again? Do you actually believe that the Democratic Party of the Jackass cares about deficits?

[CFM]

Right, but if you cut taxes, which leads to cuts to things like education and health care, you can't spend in the consumer economy because you ahve to spend more for education and health care.

So you cut taxes, which reduces revenue, which leads to cuts to health care and education, which results in having to borrow and/or spend more in those places, and not in the consumer economy.

Do you understand that, or do I need to draw a picture?

I have an easy solution. Cut ALL social welfare programs completely. Imagine how much could be saved by not giving someone what other people earned.

[LV426]

"Entitlement" is just a liberal buzzword invented by a focus group as a way to denigrate others.

What a whiner.

So you make a deliberately false argument, withhold exculpatory information because you don't think it's relevant, then when asked to show your work, you place that burden on the person making the request instead of doing so yourself.

THAT IS WHAT ENTITLEMENT IS.

That's what you tried to make me do because you didn't do the work to fully understand your own argument.

These are the most base academic standards, and you cannot even meet those...instead, you demand I accommodate you laziness by doing your work for you.

That's not how this works...that's not how any of this works.

[Flash]

What a whiner.

So you make a deliberately false argument, withhold exculpatory information because you don't think it's relevant, then when asked to show your work, you place that burden on the person making the request instead of doing so yourself.

THAT IS WHAT ENTITLEMENT IS.

That's what you tried to make me do because you didn't do the work to fully understand your own argument.

These are the most base academic standards, and you cannot even meet those...instead, you demand I accommodate you laziness by doing your work for you.

That's not how this works...that's not how any of this works.

I didn't ask you to do my work for me--I provided you the link to all the information about recessions.

What happened to all your concern about the recessions? You attacked me for leaving out a lot of irrelevant information and then when I provided the link that was the last we heard about it. It was just a diversionary tactic to avoid discussing the real issue. You could not explain the data and soon dropped the whole topic.

[Into the Night]

Right, but if you cut taxes, which leads to cuts to things like education and health care, you can't spend in the consumer economy because you ahve to spend more for education and health care.

So you cut taxes, which reduces revenue, which leads to cuts to health care and education, which results in having to borrow and/or spend more in those places, and not in the consumer economy.

Do you understand that, or do I need to draw a picture?

Why is the government spending any money at all on education or health care?

[Into the Night]

I have an easy solution. Cut ALL social welfare programs completely. Imagine how much could be saved by not giving someone what other people earned.

Works for me.

[Into the Night]

What a whiner.

So you make a deliberately false argument, withhold exculpatory information because you don't think it's relevant, then when asked to show your work, you place that burden on the person making the request instead of doing so yourself.

THAT IS WHAT ENTITLEMENT IS.

That's what you tried to make me do because you didn't do the work to fully understand your own argument.

These are the most base academic standards, and you cannot even meet those...instead, you demand I accommodate you laziness by doing your work for you.

That's not how this works...that's not how any of this works.

You seem to be receiving random messages from the Other Planet somewhere out in deep space again.

Come back to Earth and join the conversation.