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What are you? Some leftist? Soft on The Koreans?
(seriously, I agree, but we both know thats not happening-lets have a reality based conversation)
And thats the problem Im having here, too many people debating the budget and taxation seem to live i some magical universe where everything is free.
Its absurd. Trump just announced massive new spending on the military industrial complex to the tune of $55 billion. Now people claim they support his huge tax cuts and think it should be paid for by cutting the military! You are right, it is truly magic land.
Its the disabled and other vulnerable groups who will pay for this. They are not members of the ruling donor class. The richest and most powerful donors who are pushing this "tax reform" agenda dont fund the concerns of the disabled. What a morally bankrupt position to support this agenda. Especially if a person is a member of the working class!
Lower tax rates will result in billions returning to the US that are now parked overseas by multi-nation corporations. It will result in more tax collection not less!
The unrepatriated foreign profits is a lie. The firms have foreign subsidiaries which have offices and accounts in the US. If not, a foreign bank with US accounts is usually the custodian.
Edit - in 8 years from 1981 to 1988, it went from $599 to $909 billion, which far exceedes inflation.
Government pays for health care, SS, for the disabled etc etc. That does not just increase with the level of inflation. If that were the case, we would have huge numbers of people starving in the streets and dying for lack of health care because government revenue as share of GDP declines every year because of tax cuts to the ruling donor class, like you support.
Reagan blew up the debt and left office with the savings and loans crisis. You want more Reaganomics paid for by cutting the military, while Trump is massively expanding the military.
Government pays for health care, SS, for the disabled etc etc. That does not just increase with the level of inflation. If that were the case, we would have huge numbers of people starving in the streets and dying for lack of health care because government revenue as share of GDP declines every year because of tax cuts to the ruling donor class, like you support.
Reagan blew up the debt and left office with the savings and loans crisis. You want more Reaganomics paid for by cutting the military, while Trump is massively expanding the military.
The year before Reagan took office, revenues were $517 billion and spending was $590 billion. Spending was roughly 16% greater than revenue.
In Reagan's final year, revenue was $909 billion and spending was $1,064 billion.spending was roughly 11% greater than revenue.
So, by percentage, Carter blew up the debt more in his final year than Reagan in his final year.
The year before Reagan took office, revenues were $517 billion and spending was $590 billion. Spending was roughly 16% greater than revenue.
In Reagan's final year, revenue was $909 billion and spending was $1,064 billion.spending was roughly 11% greater than revenue.
So, by percentage, Carter blew up the debt more in his final year than Reagan in his final year.
final year? Thats a meaningless metric. I said Reagan left office with the savings and loans crisis and under Reagan's entire reign he blew up the debt through military spending and tax cuts for the ruling donor class. Just like Dubya.
Lol. Try taking a look at other countries that don't punish companies with outrageous tax rates....doing MUCH better than we are here.
Our companies don't pay the tax anyway.
Besides, American company's labor costs are a joke.
They could move to Germany and get a lower tax rate, but they're gonna provide six weeks paid vacation, paid maternity leave for a few YEARS, unlimited sick pay as long as a doctor says so, etc...
American corporations have it better than any corporations in any other first world nation. That's not enough for you though. You want American workers to compete with the wage earner in Burma.
I think we should be more like our European counterparts and tax corporations rationally....say like Germany at 15%.
Germany has higher labor costs!
Should Americans get six weeks paid vacation like German workers do?
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