Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It's hilarious how GOPers completely ignore the context of history. Care to tell us all what happened in 2008? Stop being dishonest with yourself and with us all like the greatest recession since the Great Depression never happened that Obama had to deal with.....which oh yeah, started under Bush.
Compare that to NO reduction in the deficits under Trump when the economy was doing fine. It increased under Trump because he gave tax cuts that weren't needed..
The tax cuts were for more than 80% of taxpayers, not just "the wealthy."
That's pretty disingenuous.
It was a tax break for the rich. What most people got was a small bribe.
the top 1 percent received 9.3 percent of the tax cuts ,
the top 5 percent received 26.5 percent,
the top 20 percent received 52.2 percent
This resulted in enormous deficits, and business did not pass along this largesse in any significant way. Most had no intention of passing any of it along to workers (there was no requirement to do so), and very few did use it for the employees benefit.
The tax breaks did not generate the revenues promised to offset the cuts. The economy was already going at full tilt before the cuts and the there was negligible increase in economic activity.
This was a pure and simple naked grab at the treasury while they had a chance. They knew the opportunity wouldn't last, so they rushed it through before anything else. That window of opportunity was fleeting, and they went for it as fast as they could.
Funny how Trump and his supporters pumped the economy and the stock market. Now the entire thing is crashing overnight.
The only thing Trump creates is chaos. His luck has finally run out and he will no.longer be able to campaign on a platform of a good economy. Worst president ever.
You have been a consistent TDS poster against Trump and (R's) for years. You have also had anti-Trump stock market crashes threads (this one locked down back in 2018).
I'll take flat growth over a bubble and collapse..
Same here. This is what a lot of people don't seem to understand. Obama's economic growth as slow and steady but it was sustainable. Trump came in and created a stock market bubble (with virtually unchanged real economic growth to back it up) which is now crashing down and is likely to take the entire economy down with it. We've seen this before in this country; in the 1920s. Like then, it was mostly the wealthy that benefited from the "Roaring Twenties" while the middle class struggled to scrape by. Now, like then, it will be the middle class that will bear the brunt of this depression.
There is no Recession, nor have there been job loses. That could happen, sure but it hasn't happened yet. Huge Deficient now that is True, and has been true for the last few decades. Somehow I don't think electing Biden or /cough Sanders will lower that deficient by providing all those free programs they talk about, including making illegals eligible for some of them. That is an insane thought. Sure we are going bankrupt so lets borrow more to provide all this free stuff and tax everybody, I am sure that won't put the economy into recession or anything /sigh.
There is no Recession, nor have there been job loses. That could happen, sure but it hasn't happened yet. Huge Deficient now that is True, and has been true for the last few decades. Somehow I don't think electing Biden or /cough Sanders will lower that deficient by providing all those free programs they talk about, including making illegals eligible for some of them. That is an insane thought. Sure we are going bankrupt so lets borrow more to provide all this free stuff and tax everybody, I am sure that won't put the economy into recession or anything /sigh.
Nah. Instead let's give the top earners a massive tax cut they had no need for since they were already sitting on the lion's share of the wealth in this country to begin with. And now that share is even larger. Then when we have a crisis, like we have now, Trump's big idea is yet another useless tax cut. Useless because for all the people who get laid off or have their hours reduced, this cut will do nothing to help them.
But the Republicans laugh at doing something that would really help the American workers. Mitch McConnell will make sure no real help gets to us, rest assured.
Basically, Trump's entire fiscal policy can be reduced to tax cuts. It's all he knows how to do.
It was a tax break for the rich. What most people got was a small bribe.
the top 1 percent received 9.3 percent of the tax cuts ,
the top 5 percent received 26.5 percent,
the top 20 percent received 52.2 percent
This resulted in enormous deficits, and business did not pass along this largesse in any significant way. Most had no intention of passing any of it along to workers (there was no requirement to do so), and very few did use it for the employees benefit.
The tax breaks did not generate the revenues promised to offset the cuts. The economy was already going at full tilt before the cuts and the there was negligible increase in economic activity.
This was a pure and simple naked grab at the treasury while they had a chance. They knew the opportunity wouldn't last, so they rushed it through before anything else. That window of opportunity was fleeting, and they went for it as fast as they could.
The middle class received a larger tax cut going by percentage.
And tax cuts do not cause deficits; overspending does.
The middle class received a larger tax cut going by percentage.
And tax cuts do not cause deficits; overspending does.
Lies. The lions share went to the 1% and corporations and tax cuts absolutely explode deficits without accompanying spending cuts
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
