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Thread: Proof that Trump tax cuts busted the National Debt

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    Default Proof that Trump tax cuts busted the National Debt

    Trump Racks Up $8 Trillion In National Debt Throughout Presidency

    WASHINGTON, DC - DECEMBER 23: President Donald Trump and first lady Melania Trump walk on the south lawn of the White House on December 23, 2020 in Washington, DC. The Trumps are headed to Mar-a-Lago for the holidays with a government shutdown possible on Monday December 28.

    President Donald Trump added nearly $8 trillion to the U.S. national debt throughout his presidency, according to the Washington Examiner.

    Before Trump took office in 2016, the federal debt stood at roughly $20 trillion, but it has ballooned over the past four years to nearly $28 trillion as of Monday, the Examiner reported, citing data from the Treasury Department. Former President Barack Obama, who served two terms in office, increased the nation’s debt by roughly $9 trillion over the course of eight years, according to the Examiner.

    “[Trump’s] tenure has been marked by a total disregard for any concern about mounting debt,” fellow at the American Enterprise Institute, a conservative think tank, Jim Capretta told the Examiner. “Trump saw that it would be to his political advantage to be very liberal in terms of spending and tax reductions happening simultaneously.”

    The president’s first-year tax cuts increased the debt by roughly $1.9 trillion over 10 years, and Trump hiked annual spending from $3.85 trillion to $4.6 trillion in 2020 — all of which came before coronavirus-related expenditures, the Examiner reported citing the Congressional Budget Office and the Committee for a Responsible Federal Budget. The Republican’s coronavirus relief debt has so far totaled roughly $1.8 trillion, according to the Examiner.

    Trump vowed to eliminate all federal debt while he was campaigning for president in April of 2016. The then-candidate said the ambitious proposal could be tackled in two terms as Commander In Chief.

    “We’re not a rich country. We’re a debtor nation…We’ve got to get rid of the $19 trillion in debt,” Trump told The Washington Post.“I think I could do it fairly quickly…I would say over a period of eight years.”

    The Republican echoed his remarks in June of 2016 when he called the nation’s debt “a time bomb.”
    See the Right Wing Super Patriot:

    Hear him preach how he loves his country. Hear him preach how he hates Liberals...and Moderates...and Intellectuals...and Activists...and Pacifisits...and Minority Groups...and Aliens...and Teenagers...and the Very Rich...and the Very Poor...and People with Foreign-sounding names.
    Now you know what a Right Wing Super Patriot is:
    Someone who loves his country while hating 90% of the Americans who live in it.

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    It's the spending that does it. You can cut taxes and not increase the debt if you cut spending. Ultimately no one cares. People give it lip service but voters don't hold politicians accountable so they keep on spending. What have we spent/proposed in the past several months, some $5 trillion? Very few care.

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    Quote Originally Posted by cawacko View Post
    It's the spending that does it.
    No, it's the decline in revenues.


    You can cut taxes and not increase the debt if you cut spending.
    If you cut spending, you need to replace that spending with other spending, otherwise you are contracting the economy.

    The lie is that cutting taxes makes up for that spending cut with increased consumption.

    The truth is that cutting taxes doesn't increase consumption, and that's why and how tax cuts always, always, always, ALWAYS prompt recessions...cutting taxes forces budget deficits, which forces cuts to government spending, that are not made up for with non-government spending in the economy.

    It happens EVERY. SINGLE. TIME. That taxes have been cut the last 42 years.


    What have we spent/proposed in the past several months, some $5 trillion? Very few care.
    That $5T is to recover the country from the damage caused, in part, by the tax cut.
    "While you're worried about bad apples
    We're wary of the roots
    Because no healthy tree
    Naturally bears strange fruit"


    -Jessica Foster, June 2020

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    Quote Originally Posted by cawacko View Post
    You can cut taxes and not increase the debt if you cut spending.
    If you cut government spending, then you need to make up for that spending elsewhere, otherwise you contract the economy by the exact amount that you've cut spending.

    The lie is that cutting taxes leads to increased consumer spending.

    The truth is that cutting taxes leads to increased consumer debt.
    "While you're worried about bad apples
    We're wary of the roots
    Because no healthy tree
    Naturally bears strange fruit"


    -Jessica Foster, June 2020

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    it had to be the tax cuts.....we all know that Congress didn't spend any money for the last four years......
    Isaiah 6:5
    “Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”

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    Quote Originally Posted by PostmodernProphet View Post
    it had to be the tax cuts.....we all know that Congress didn't spend any money for the last four years......
    It was the tax cut that delivered on exactly ZERO of the promises made of it.
    "While you're worried about bad apples
    We're wary of the roots
    Because no healthy tree
    Naturally bears strange fruit"


    -Jessica Foster, June 2020

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    Quote Originally Posted by LV426 View Post
    It was the tax cut that delivered on exactly ZERO of the promises made of it.
    it gave us the best economy in decades until Covid and the demmycrat hoax about it.....
    Isaiah 6:5
    “Woe to me!” I cried. “I am ruined! For I am a man of unclean lips, and I live among a people of unclean lips, and my eyes have seen the King, the Lord Almighty.”

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    The Trump tax cuts were an abomination by every possible standard--practically, socially, morally, and intellectually..

    The only people who benefitted substantially--short term-- were already doing really well.
    Paying more taxes instead of less would have benefited them more in the long term for obvious reasons: business booms when everybody has disposable income.
    Unscrupulous oligarchs, however, are myopic where money is concerned.

    The trumpanzees who dance at the end of their strings are gluttons for exploitation.
    All you have to do is tell them that they're upsetting snobby liberals and they're happy living in trailer parks on junk food and drugs.
    Patriotism is the last refuge of a a scoundrel. Samuel Johnson, 1775
    Religion....is the opiate of the people. Karl Marx, 1848
    Person...woman...man...camera...television. Donald Trump, 2020

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    Quote Originally Posted by PostmodernProphet View Post
    it gave us the best economy in decades until Covid and the demmycrat hoax about it.....
    Trump allowed businesses and people to keep more of their own money. What a concept huh?
    Consider the Oyster.

    C-4 is just angry playdoh.

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    Quote Originally Posted by cawacko View Post
    It's the spending that does it. You can cut taxes and not increase the debt if you cut spending. Ultimately no one cares. People give it lip service but voters don't hold politicians accountable so they keep on spending. What have we spent/proposed in the past several months, some $5 trillion? Very few care.
    Exactly. It should be mandatory for members of Congress to have a degree in accounting because they obviously don't know squat about balancing a budget.
    See the Right Wing Super Patriot:

    Hear him preach how he loves his country. Hear him preach how he hates Liberals...and Moderates...and Intellectuals...and Activists...and Pacifisits...and Minority Groups...and Aliens...and Teenagers...and the Very Rich...and the Very Poor...and People with Foreign-sounding names.
    Now you know what a Right Wing Super Patriot is:
    Someone who loves his country while hating 90% of the Americans who live in it.

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    Quote Originally Posted by cawacko View Post
    It's the spending that does it. You can cut taxes and not increase the debt if you cut spending. Ultimately no one cares. People give it lip service but voters don't hold politicians accountable so they keep on spending. What have we spent/proposed in the past several months, some $5 trillion? Very few care.
    Exactly. It should be mandatory for members of Congress to have a degree in accounting because they obviously don't know squat about balancing a budget.
    See the Right Wing Super Patriot:

    Hear him preach how he loves his country. Hear him preach how he hates Liberals...and Moderates...and Intellectuals...and Activists...and Pacifisits...and Minority Groups...and Aliens...and Teenagers...and the Very Rich...and the Very Poor...and People with Foreign-sounding names.
    Now you know what a Right Wing Super Patriot is:
    Someone who loves his country while hating 90% of the Americans who live in it.

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    Quote Originally Posted by Flaming Capitalist View Post
    Trump Racks Up $8 Trillion In National Debt Throughout Presidency

    WASHINGTON, DC - DECEMBER 23: President Donald Trump and first lady Melania Trump walk on the south lawn of the White House on December 23, 2020 in Washington, DC. The Trumps are headed to Mar-a-Lago for the holidays with a government shutdown possible on Monday December 28.

    President Donald Trump added nearly $8 trillion to the U.S. national debt throughout his presidency, according to the Washington Examiner.

    Before Trump took office in 2016, the federal debt stood at roughly $20 trillion, but it has ballooned over the past four years to nearly $28 trillion as of Monday, the Examiner reported, citing data from the Treasury Department. Former President Barack Obama, who served two terms in office, increased the nation’s debt by roughly $9 trillion over the course of eight years, according to the Examiner.

    “[Trump’s] tenure has been marked by a total disregard for any concern about mounting debt,” fellow at the American Enterprise Institute, a conservative think tank, Jim Capretta told the Examiner. “Trump saw that it would be to his political advantage to be very liberal in terms of spending and tax reductions happening simultaneously.”

    The president’s first-year tax cuts increased the debt by roughly $1.9 trillion over 10 years, and Trump hiked annual spending from $3.85 trillion to $4.6 trillion in 2020 — all of which came before coronavirus-related expenditures, the Examiner reported citing the Congressional Budget Office and the Committee for a Responsible Federal Budget. The Republican’s coronavirus relief debt has so far totaled roughly $1.8 trillion, according to the Examiner.

    Trump vowed to eliminate all federal debt while he was campaigning for president in April of 2016. The then-candidate said the ambitious proposal could be tackled in two terms as Commander In Chief.

    “We’re not a rich country. We’re a debtor nation…We’ve got to get rid of the $19 trillion in debt,” Trump told The Washington Post.“I think I could do it fairly quickly…I would say over a period of eight years.”

    The Republican echoed his remarks in June of 2016 when he called the nation’s debt “a time bomb.”
    In addition to that tRump atrocity and the amount of money it will cost to recover from tRump and his insurgency's taxpayer looting to the point of the rich finally being required to pay their fair share in taxes, which was a huge factor at tRump blowing up the national debt among his thieving goons. Furthermore, it will cost over $30 million to recover from the affects of tRump's conspired insurrection. The lawlessly hacked in tRump insurgency was not only on a mission to destroy Democracy from within but a curse on humanity as a whole, and that I hope this fatal error will not be repeated in the future:

    Architect Of The Capitol Outlines $30 Million In Damages From Pro-Trump Riot

    The cost of repairing damages from the attack on the U.S. Capitol and related security expenses have already topped $30 million and will keep rising, Architect of the Capitol J. Brett Blanton told lawmakers on Wednesday.

    The events of Jan. 6, he said, were "difficult for the American people and extremely hard for all of us on campus to witness."

    Blanton said that congressional appropriations committees have already approved a transfer request of $30 million to pay for expenses and extend a temporary perimeter fencing contract through March 31.

    But more money will be needed, he added: "History teaches us that project costs for replacements and repairs beyond in-kind improvements across campus will be considerable and beyond the scope of the current budgetary environment."

    The price tag will go even higher, Blanton told lawmakers on the House Appropriations Committee, if the fence and other security measures are needed beyond March."

    https://www.npr.org/sections/insurre...pro-trump-riot
    Last edited by gemini104104; 04-09-2021 at 08:37 PM.

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    Quote Originally Posted by NiftyNiblick View Post
    The Trump tax cuts were an abomination by every possible standard--practically, socially, morally, and intellectually..

    The only people who benefitted substantially--short term-- were already doing really well.
    Paying more taxes instead of less would have benefited them more in the long term for obvious reasons: business booms when everybody has disposable income.
    Unscrupulous oligarchs, however, are myopic where money is concerned.

    The trumpanzees who dance at the end of their strings are gluttons for exploitation.
    All you have to do is tell them that they're upsetting snobby liberals and they're happy living in trailer parks on junk food and drugs.
    Many companies used the tax savings to buy back stock, rather than to expand and hire. Imagine that.
    “Live as if you were to die tomorrow. Learn as if you were to live forever.” -- Gandhi

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    Quote Originally Posted by Flaming Capitalist View Post
    Exactly. It should be mandatory for members of Congress to have a degree in accounting because they obviously don't know squat about balancing a budget.
    I would agree except there are people in office with business degrees and backgrounds in business who know better but spend anyway because that’s what gets them elected.

    If we’re being honest most people want low taxes and lots of services. Therefore it can be difficult/almost impossible to win office on a platform of responsible spending and reducing or eliminating programs.

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    Quote Originally Posted by cawacko View Post
    I would agree except there are people in office with business degrees and backgrounds in business who know better but spend anyway because that’s what gets them elected.

    If we’re being honest most people want low taxes and lots of services. Therefore it can be difficult/almost impossible to win office on a platform of responsible spending and reducing or eliminating programs.
    Yeah, very true. If a candidate came forward and said he was cutting spending and balancing the budget, he/she would get minimal support. It's just not sexy to cut spending and many Americans don't understand the logic in cutting spending. Also, the Federal Government spends so much money that the US Economy depends on that and if we were to cut spending even 5% for one fiscal year, the economy and market would be negatively affected. But, you don't want the economy to be reliant on Government spending.

    I think one main change that could help is pass a comprehensive Term Limits law on Congress as well as a mandatory retirement at 70 years.
    If members of Congress don't worry about being re-elected every election cycle, they will probably make better decisions (hopefully).
    See the Right Wing Super Patriot:

    Hear him preach how he loves his country. Hear him preach how he hates Liberals...and Moderates...and Intellectuals...and Activists...and Pacifisits...and Minority Groups...and Aliens...and Teenagers...and the Very Rich...and the Very Poor...and People with Foreign-sounding names.
    Now you know what a Right Wing Super Patriot is:
    Someone who loves his country while hating 90% of the Americans who live in it.

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