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This is B.S. The tax cut won't "grow the deficit," because it will increase revenue, just as in the Reagan tax cut, which doubled revenue to the Federal government.
If one has a brain , and I have always done my own taxes for my businesses it is easy to figure out. The tax deduction will double for singles and married etc. The personal deduction will disappear . People on the lower income bracket will get a tax decrease. They will keep more money in their paycheck giving them more buying power to boost the economy. Middle class will get a lower tax bracket so they will be paying less money.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,623,335 times
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Quote:
Originally Posted by nononsenseguy
This is B.S. The tax cut won't "grow the deficit," because it will increase revenue, just as in the Reagan tax cut, which doubled revenue to the Federal government.
Why did the Gipper add 68% to the debt during his time in office then?
We knew it all along. It was really FISHY when Repubs, who have been complaining about deficits and the debt for many years, now suddenly turn tail and support a big tax cut that will drive up the debt by at least $1.5 Trillion.
The big plan is to cut taxes, grow the deficit, and then use it as an excuse to slash Social Security and Medicare.
Sorry Trump supporters -- you thought you were draining the swamp. Instead you got played.
Show me the Medicare and SS cuts in this tax bill.
This is B.S. The tax cut won't "grow the deficit," because it will increase revenue, just as in the Reagan tax cut, which doubled revenue to the Federal government.
Only if growth increases to a point that everyone agrees is not realistic. Did you follow the news today?
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,623,335 times
Reputation: 9169
Quote:
Originally Posted by Wapasha
Show me the Medicare and SS cuts in this tax bill.
Reading comprehension would help you.
In the OP, it is mentioned that the R's know that this will increase the deficit, so at a later date, they will balance the budget by SS&Medicare cuts
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