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"unless accompanied by some large spending cuts ... "
I'm willing to wait and see how much Trump will axe from the budget to offset the supposed loss in tax revenue. You're only looking at the revenue side.
We hear that in every presidential campaign. These candidates will tell us they will reduce taxes but rarely tell us what spending is gonna be reduced. When they do it, it doesn't add up.
There is no place to cut spending... unless you want to reduce Medicare or Social Security benefits. If Trump claims he can cut spending then he needs to tell us where he is gonna cut it NOW, not after he is elected.
I don't think Donald Trump has any idea of what he is proposing. He just says things he thinks sound populist.
Quote:
Only a few weeks ago, Trump said he could eliminate federal debt in just eight years, a nearly impossible task. Trump's own tax plan would add trillions to the debt.
Now he says the U.S. should just borrow more and renegotiate the terms later.
"I would borrow, knowing that if the economy crashed, you could make a deal," Trump said on CNBC last week.
"First of all, you never have to default because you print the money,"
"I said if we can buy back government debt at a discount, in other words, if interest rates go up and we can buy bonds back at a discount -- if we are liquid enough as a country, we should do that," he said. "In other words, we can buy back debt at a discount"
By eliminating social program fraud, Trump will save billions.
By reducing the trade deficits, Trump will save billions.
By asking other countries for money for defense, Trump will increase revenue.
By reducing our contribution to NATO, Trump will save millions.
By eliminating or reworking the Iran nuclear deal, Trump will save billions.
By closing the borders to illegal, Trump will save billions.
Get the idea ? You know, America first ...
"By reducing the trade deficits, Trump will save billions. "
The trade deficit isn't part of the federal budget and cutting it has no effect on the deficit -- but I wouldn't expect Trump, or his supporters, to know that. neither will closing the borders -- and Trump plans to spend $20 billion building that wall and $20 billion every seven years to maintain it.
This is a factoid that someone should tell Trump, regarding federal spending: Your federal government is basically an insurance company with an army. The vast bulk of its spending goes to the big five: Social Security, Medicare, Medicaid, defense, and interest on the debt. All of those other things together are a rounding error on a rounding error in the federal budget. If Trump want to cut enough to offset his trillion dollar a year increase in the deficit, he's either talking about cuts in the big five, or he has no idea what he's talking about -- but I've known that for a long time. By now, it is obvious to all but the Kool Aid drinkers.
"By reducing the trade deficits, Trump will save billions. " The trade deficit isn't part of the federal budget and cutting it has no effect on the deficit -- but I wouldn't expect Trump, or his supporters, to know that.
This is a factoid that someone should tell Trump, regardfederal spending: Your federal government is basically an insurance company with an army. The vast bulk of its spending goes to the big five: Social Security, Medicare, Medicaid, defense, and interest on the debt. All of those other things together are a rounding error on a rounding error in the federal budget.
And if Trump want to cut enough to offset his trillion dollar a year increase in the deficit, he's either talking about cuts in the big five, or he has no idea what he's talking about -- but I've known that for a long time.
What happens if the trade deficit is reduced as companies facing increased tariffs currently operating in China pack up shop and move back the U.S. ? U.S. workers get hired and income/payroll taxes are assessed adding revenue to the federal government. But I wouldn't expect a blind anti-Trump supporter to be able to think that far ahead.
"By reducing the trade deficits, Trump will save billions. "
The trade deficit isn't part of the federal budget and cutting it has no effect on the deficit -- but I wouldn't expect Trump, or his supporters, to know that.
I don't think they understand what trade deficit means. I think they confuse it with budget deficit.
Quote:
Originally Posted by MTAtech
Your federal government is basically an insurance company with an army.
What happens if the trade deficit is reduced as companies facing increased tariffs currently operating in China pack up shop and move back the U.S. ? U.S. workers get hired and income/payroll taxes assessed adding revenue to the federal government. But I wouldn't expect a blind anti-Trump supporter to be able to think that far ahead.
What if birds flew out of my butt?
You are arguing fantasies. There is a huge number of reasons why that won't happen in the short-run, that are very complex. It will take a long time to establish the supply chains that exist overseas that don't exist here, for one. The other point is that it is fine and good saying to move everything back, but Americans also aren't willing to pay the higher prices that will result.
The major thing is that the trade deficit isn't mostly products of U.S. companies that moved overseas, it's foreign companies overseas, like the Toyota and Airbus.
Besides, let Trump put his money where his mouth is, I see Trump manufacturing overseas for his goods.
As I said, these things are complex and Trump only offers simplistic solutions to a fan base that doesn't know any better nor is capable of detecting when it's being fed horse manure.
You are arguing fantasies. There is a huge number of reasons why that won't happen in the short-run, that are very complex. It will take a long time to establish the supply chains that exist overseas that don't exist here, for one. The other point is that it is fine and good saying to move everything back, but Americans also aren't willing to pay the higher prices that will result.
Besides, let Trump put his money where his mouth is, I see Trump manufacturing overseas for his goods.
As I said, these things are complex and Trump only explores simplistic solutions.
I don't think they understand what trade deficit means. I think they confuse it with budget deficit.
Not just "they" but Trump himself doesn't know the difference. Trump also doesn't know the name of the federal program that provides medical insurance for the poor. These are basics that are PREZ 101 topics. That's why presidential candidates have been senators, governors and high government officials -- because they know the basics before running for office. He is more ignorant about policy than you can possibly imagine, even when you take into account the fact that he is more ignorant than you can possibly imagine.
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Sad but true.
If you think the concept is that complex no wonder you are voting for Trump. You must think he is a genius.
