Archy1221 Posted October 31 Share Posted October 31 10 hours ago, Dr. Strangelove said: Trump, if he wins, should really not institute any of his insane economic ideas. He's going to inherit a golden goose. His job will be to not f#&% it up. His tax policy has been a boon to the US treasury and the economy. It will be interesting to see what happens when Kamala takes the Trump tax cut away after she wins. 3 1 Link to comment
Dr. Strangelove Posted October 31 Share Posted October 31 2 hours ago, Archy1221 said: His tax policy has been a boon to the US treasury and the economy. It will be interesting to see what happens when Kamala takes the Trump tax cut away after she wins. The CBO projected that the tax policies of Trump, mainly the TCJA, increased deficits by $1.9 trillion according to the CBO. Extending the provisions of the TCJA would increase deficits by $4-5 trillion through 2035. 3 Link to comment
teachercd Posted October 31 Share Posted October 31 Can someone tell Joe to add some power to the older stock market, please??? (Yes, nutjobs, I know this is not a thing) 1 Link to comment
Archy1221 Posted October 31 Share Posted October 31 38 minutes ago, Dr. Strangelove said: The CBO projected that the tax policies of Trump, mainly the TCJA, increased deficits by $1.9 trillion according to the CBO. Extending the provisions of the TCJA would increase deficits by $4-5 trillion through 2035. You linked to a 2018 article vs looking at the actual treasury receipts. 😂 Guess what the CBO thought Medicare was gonna cost back in the day. Has the CBO really been right about anything? 1 Link to comment
Dr. Strangelove Posted October 31 Share Posted October 31 2 hours ago, Archy1221 said: You linked to a 2018 article vs looking at the actual treasury receipts. 😂 Guess what the CBO thought Medicare was gonna cost back in the day. Has the CBO really been right about anything? The CBO can only project revenues based on how the law is written and can only estimate based on that single law - ignoring other laws, revisions, the changing of how the laws are enforced in court, etc. Population increases, wage gains, and many other factors impact Treasury receipts. The question is if Treasury receipts should be even higher without the TCJA - tax receipts were down the first two years after the TCJA, when the pandemic happened, and then massive government spending to lift the economy makes it extremely difficult to determine the effects of the TCJA or the trillions in government spending. What we do know is that prior to the TCJA, government revenues averaged 18.1% of GDP, and it's averaged 17.8% after, (and closer to 17% prior to the pandemic after enacted). Link to comment
Archy1221 Posted October 31 Share Posted October 31 20 minutes ago, Dr. Strangelove said: What we do know is that prior to the TCJA, government revenues averaged 18.1% of GDP, and it's averaged 17.8% after, (and closer to 17% prior to the pandemic after enacted). In 2023 it was 16.5%. This isn’t a great indicator in establishing whether tax cuts added to a deficit or not. 1 1 1 Link to comment
Moiraine Posted November 1 Share Posted November 1 One nice thing about Trump's tax plan and Musk's plan to cut discretionary spending by $2 trillion is if they both get implemented, things will get horrible so quickly it will probably doom Trumpism by ~2027. I'd rather the bandaid get torn off quickly. That's not actually going to happen though. We don't have $2 trillion in discretionary spending, and the military makes up more than 50% of it. I guess getting rid of the military is an... idea. 1 1 Link to comment
TGHusker Posted November 1 Share Posted November 1 The Bill Clinton slogan vs GHWB: It's the Economy Stupid, It's the Economy. This could be the Harris campaign slogan against Trump. The Biden economy is outperforming Trump's by leaps and bounds. 2 Link to comment
BigRedBuster Posted November 1 Author Share Posted November 1 16 minutes ago, TGHusker said: The Bill Clinton slogan vs GHWB: It's the Economy Stupid, It's the Economy. This could be the Harris campaign slogan against Trump. The Biden economy is outperforming Trump's by leaps and bounds. Harris could be talking about this every single speech and in every advertisement.....and MAGAts won't listen and won't believe it. Trump is the only person in the world that can "fix" the economy. Because...you know....he's the greatest business man the world has ever seen. 1 4 Link to comment
commando Posted November 2 Share Posted November 2 4 minutes ago, DevoHusker said: not bad for a garbage dump 2 Link to comment
teachercd Posted November 2 Share Posted November 2 Yeah, no s#!t. I say this all the time and dorks still think it is not true. 1 1 Link to comment
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