The Fall f the United States, The End

[Eddies66]

Originally Posted by Alan Roehrich

It worked under Kennedy, Reagan, and Trump.



The fact that increased spending increased the deficit and the debt does not refute that lower tax rates and fewer regulations improve the economy and increase tax revenue.






The idea that you can "give poor people money" and improve the economy is proven false, constantly. It doesn't even improve their position.


"Consumers" do not employ people. Producers employ people, making it possible for those who consume to have income to fund their consumption.


The top 50% of the tax payers pay 95% or so of the tax revenue. The top 10% pay almost 55%. Reducing the tax rate on those people encourages them to invest and spend more to increase their income, increasing their income increases revenue.


Further, corporations do not pay taxes. The increased cost of doing business caused by higher tax rates is merely passed on to the consumer in the form of higher prices, and drives production out of the country, killing jobs.


Read Sowell, Freidman, and Laffer. Keynes and Krugman are as disproven as Marx.

Wrong, Cutting taxes for the wealthy often does not translate to increased rates of employment, consumer spending, and government revenues in the long term. Instead, cutting taxes for middle- and lower-income earners will drive the economy through the trickle-up phenomenon. The added income for the wealthy, resulting from tax cuts, will simply increase the growing income inequality in the United States.

Trump and Reagan used it and both tripled the debt.

[Alan Roehrich]

Originally Posted by Eddies66

Wrong, Cutting taxes for the wealthy often does not translate to increased rates of employment, consumer spending, and government revenues in the long term. Instead, cutting taxes for middle- and lower-income earners will drive the economy through the trickle-up phenomenon. The added income for the wealthy, resulting from tax cuts, will simply increase the growing income inequality in the United States.

Trump and Reagan used it and both tripled the debt.

Again, you gleefully ignore the spending.



NEVER has any form of giving the "lower income" segment any money resulted in economic progress.


The FIRST problem with your baseless theory is that the bottom 40% barely pay ANY federal income taxes of any kind. At most, they pay some federal taxes such as those on fuels. Quite literally, the biggest burdens on "lower classes" are the result of high tax rates on corporations, which substantially increase the cost of goods and services, and the burden of inflation, driven by the government not only spending, but drastically increasing the debt, and quite literally inventing money out of thin air, reducing the value of money in circulation.



If you want to give them a break, reduce the taxes charged to those who make the goods they purchase, thereby reducing the cost of the goods they require to survive. And increasing the amount of production done within the borders, increasing their chance at higher wages.

[Alan Roehrich]

Originally Posted by Eddies66

Wrong, Cutting taxes for the wealthy often does not translate to increased rates of employment, consumer spending, and government revenues in the long term. Instead, cutting taxes for middle- and lower-income earners will drive the economy through the trickle-up phenomenon. The added income for the wealthy, resulting from tax cuts, will simply increase the growing income inequality in the United States.

Trump and Reagan used it and both tripled the debt.

In addition, you're completely wrong, on ALL counts, and the most recent economic history proves that. Not only did the Trump tax cuts produce RECORD federal tax revenue, far above that of the previous higher tax rates, it also created economic growth that created the lowest recorded unemployment levels of recent recorded history, including record lows in minority unemployment. Not to mention, under Trump, the wage and wealth growth rate for the middle class exceeded that of the higher class for the first time in decades.

[SStockDart]

Even at my age, I learn something everyday. Thanks to Hunter Biden, you don't have to go to jail for an illegal gun purchase if you are a druggie. Additionally, obviously everyone can claim prostitution costs as business expenses on tax returns. Thousands are now preparing their amended tax returns. Lol. Thanks Hunter

[Eddies66]

Originally Posted by SStockDart

Even at my age, I learn something everyday. Thanks to Hunter Biden, you don't have to go to jail for an illegal gun purchase if you are a druggie. Additionally, obviously everyone can claim prostitution costs as business expenses on tax returns. Thousands are now preparing their amended tax returns. Lol. Thanks Hunter

The $130,000 overpriced trix was a business expense...write it off!!

[Eddies66]

Originally Posted by Alan Roehrich

In addition, you're completely wrong, on ALL counts, and the most recent economic history proves that. Not only did the Trump tax cuts produce RECORD federal tax revenue, far above that of the previous higher tax rates, it also created economic growth that created the lowest recorded unemployment levels of recent recorded history, including record lows in minority unemployment. Not to mention, under Trump, the wage and wealth growth rate for the middle class exceeded that of the higher class for the first time in decades.

I'll go with facts and figures.


Fact: Trump has become the first president since Herbert Hoover during the Great Depression to depart office with fewer jobs in the country than when he entered.

Fact: The gross domestic product went up in Trump’s first two years, peaking at an estimated 2.9% in 2018 — the highest since 2005. But the economy grew only 2.3% in 2019 and the bottom fell out in 2020.
The real GDP declined 3.4% in 2020 from the previous year. It was the largest drop since 1947, when the nation’s economy declined 11.6% after years of economic expansion fueled by World War II.

Fact: As a candidate and president, Trump promised the nation’s economy would grow on an annual basis by 4% to 6%. But it never topped 3%.

[Alan Roehrich]

Originally Posted by Eddies66

I'll go with facts and figures.


Fact: Trump has become the first president since Herbert Hoover during the Great Depression to depart office with fewer jobs in the country than when he entered.

Fact: The gross domestic product went up in Trump’s first two years, peaking at an estimated 2.9% in 2018 — the highest since 2005. But the economy grew only 2.3% in 2019 and the bottom fell out in 2020.
The real GDP declined 3.4% in 2020 from the previous year. It was the largest drop since 1947, when the nation’s economy declined 11.6% after years of economic expansion fueled by World War II.

Fact: As a candidate and president, Trump promised the nation’s economy would grow on an annual basis by 4% to 6%. But it never topped 3%.

ROFLMFAO


You're using the figures from the "pandemic". Seriously? That's so utterly intellectually dishonest as to render this all pointless. That's really sad.

[Eddies66]

Originally Posted by Alan Roehrich

ROFLMFAO


You're using the figures from the "pandemic". Seriously? That's so utterly intellectually dishonest as to render this all pointless. That's really sad.

The reason for using is to show how badly he handled it. Figures don't lie! His broken promises, his failure to lead, the continuing to lie to save his own ***, his no sense of accountability. He is your cup of tea, not mine.

[MR DERBY CITY]

Originally Posted by Eddies66

The reason for using is to show how badly he handled it. Figures don't lie! His broken promises, his failure to lead, the continuing to lie to save his own ***, his no sense of accountability. He is your cup of tea, not mine.

You are a Funny guy Eddie. I vote with my wallet…My 401 k was higher and my grocery bill was lower …I won’t even mention fuel. I would pray for you, but that’s even out the window now.. For once I am Speechless ….

[Eddies66]

Originally Posted by MR DERBY CITY

You are a Funny guy Eddie. I vote with my wallet…My 401 k was higher and my grocery bill was lower …I won’t even mention fuel. I would pray for you, but that’s even out the window now.. For once I am Speechless ….

I am good with that, thank you!