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Please don't be so blind. There are a plethora of financially illiterate lefties posting on P&OC who think corporate profits go only to the rich.
The fact is that US workers/retirees have $27 trillion worth of investments in corporations in their pension/retirement accounts. That's NOT chump change.
So that's now the selling point, we need a tax cut because 401K's will perform well. What happened to the discussion that this was going to increase middle class wages, hiring and investment in manufacturing.
Tax cuts don't have to be "paid for" as the Democrats always like to claim, because the increased economic activity results in more revenue, not less ...just as we saw during the Reagan Administration, when revenue to the Federal Government doubled.
But Democrats always have to find an excuse to be against tax cuts, like calling them "tax cuts for the rich." The simple truth is that Democrats don't like cutting taxes. Period.
They had some of the largest tax increases in history after the 1981 Reagan tax cuts, if they worked so well why did we also incur record debt. Yes debt at some point has to be paid for but since the GOP controls all 3 houses debt no longer matters.
According to Rand Paul, the GOP spending plan was going to add $10 trillion to the debt even before this tax plan, so we're talking about big numbers.
It all works out in making sausage, now doesn't it.
It is funny, you scream of adding to the debt, only when a Republican holds all the power in all branches of government.
Where was this talk from you in 2009?
Not only did Bush double the debt, he left the economy in ruins.
Yes. My point exactly.
I really want to badger conservatives into giving references for their claims because I seriously want to know what verifiable data their claims are based on. Obviously the same goes for liberals.
Quote:
Originally Posted by BentBow
It is funny, you scream of adding to the debt, only when a Republican holds all the power in all branches of government.
Where was this talk from you in 2009?
True, but Republicans have historically been the most vocal about cutting the debt. But now that they are in power, adding to the debt is suddenly not such a big deal.
I think that even people who have no clue about economics can see this obvious fact: Adding to the debt is easy, and it can give a quick impression of "good times." Just like piling debt onto your credit card. Life seems great for a year or two. You can live the high life and feel rich for the moment. But in the long run somebody has to pay. (BTW: Both parties are guilty of playing this game. The temptation is just so overwhelming.) Of course, it is actually a very good short-term political strategy for Republicans. There is a very good chance that this Republican hey-day will be short-lived, so we will probably elect a Democrat president in the next election. Just like Obama had to inherit the mess left by Bush, the next Dem will have to inherit the mess left by this political lunacy.
Last edited by Gaylenwoof; 12-20-2017 at 08:35 AM..
Now? It has been true for decades. The current $27 trillion worth of investments didn't appear in US workers'/retirees' pension/retirement accounts overnight.
Only the financially illiterate have no clue that the working class directly benefits tremendously when corporations prosper.
They had some of the largest tax increases in history after the 1981 Reagan tax cuts, if they worked so well why did we also incur record debt. Yes debt at some point has to be paid for but since the GOP controls all 3 houses debt no longer matters.
Bush tax cuts didn't work either.
Oklahoma cut taxes. Now it's cutting the school week.
It all works out in making sausage, now doesn't it.
It is funny, you scream of adding to the debt, only when a Republican holds all the power in all branches of government.
Where was this talk from you in 2009?
Its not good no matter who's in office. The whole "Red team/Blue Team" thing is getting old.
If I remember correctly, the stimulus spending was approved and put into place by the Bush administration. This was the largest driver of the overall debt increase when Obama took office. Data shows that during Obama's term, the total debt continued to increase, but the deficit was reduced significantly.
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