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WillFranklin

CBO Projected Trump Tax Scam Would Cost Us $1.9 Trillion In Revenue Over Ten Years But It's Costing Us More

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As many of you know we have major revenue problems and I have been sounding the alarms.

 

The CBO warned us that the Trump Tax Scam would cost us 1.9 Trillion dollars in revenue over ten years.

 

https://budget.house.gov/publications/report/cbo-confirms-gop-tax-law-contributes-darkening-fiscal-future

 

"CBO projected that the tax cut will add $1.9 trillion to deficits over 10 years, even after accounting for any growth effects."

 

The government report after over one year of the Trump Tax Scam says on page 7 that we have lost 9 Billion more than scheduled already!

 

https://crsreports.congress.gov/product/pdf/R/R45736

 

"Overall revenue changes were close to projections, with revenues only $9 billion smaller than projected..."

 

So much for the Republican argument that the Trump Tax Scam will pay for itself. Not only was the CBO right so far, it is worse than even they projected.

 

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8 years in a row 

The imam Barbie Davis-Soetoro

Democrat National Socialist Regime

Free Money and Ten Trillion Dollar Taxpayer Debt

Hopie-Change Utopian Economy

149.jpg

 

a49337cdd382f37ed5e6174d8fd361bf--book-j

Thanks Barbie.

 

Great job

 

erase-obama1.jpg

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8 hours ago, DeepBreath said:

Willie HATES when the middle class keeps more of their money. 

 

It is mostly the corporations, then the wealthy, that made off with almost all of the tax breaks, which has now busted the budget. And the law says corporate taxes will stay low but ours will go back up.

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Some common sense and research shows why trickle down doesn't work, and that having more money in the hands of the people and entities that spend all of their money helps the economy more.

The economy prospers more when the government has more to spend, and when the poor have more to spend because they actually spend it all. The wealthy and corporations do not spend all or in the case of the wealthy, they do not even spend half of what they earn.

The poor spend more than 100% of what they earn.

This Forbes article is where the information comes from. You also need common sense to go with it.

https://www.forbes.com/sites/beltway/2015/05/27/the-trouble-with-the-fairtax

The latest data on spending as a share of income published by the Bureau of Labor Statistics Show that lower-income households spend more than they earn—presumably aided by tax credits and other cash transfers, gifts from family members and friends, and borrowing (see chart). People earning over $150,000 spend only half of their income (and the share continues to fall as incomes rise, although it’s not shown in the summary statistics).

 

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Gotta get rid of Gerrymandering....but we'll have the gop SC for 3-4 decades

 

 

20190702edphc-a.jpg?resize=807x807

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Money is power.  Wealth concentration is power concentration.  Simple-minded criminals who think only of themselves right now think they can hoard more and more money indefinitely and that will just make them richer, and more powerful.  But without exception, when you pass a certain point, people who are desperate start looking for heads to chop off.  There is no reasonable ideology that can justify enormous wealth concentration among a few people while the vast majority does all of the work, produces all of the goods, and even comes up with the ideas.  Your ability to control capital and direct it to make more capital is only Good as long as it's Useful.  Once you're just a drain on everybody and everything around you, you've outlasted the justification for yourself.

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14 hours ago, WillFranklin said:

As many of you know we have major revenue problems and I have been sounding the alarms.

 

The CBO warned us that the Trump Tax Scam would cost us 1.9 Trillion dollars in revenue over ten years.

 

https://budget.house.gov/publications/report/cbo-confirms-gop-tax-law-contributes-darkening-fiscal-future

 

"CBO projected that the tax cut will add $1.9 trillion to deficits over 10 years, even after accounting for any growth effects."

 

The government report after over one year of the Trump Tax Scam says on page 7 that we have lost 9 Billion more than scheduled already!

 

https://crsreports.congress.gov/product/pdf/R/R45736

 

"Overall revenue changes were close to projections, with revenues only $9 billion smaller than projected..."

 

So much for the Republican argument that the Trump Tax Scam will pay for itself. Not only was the CBO right so far, it is worse than even they projected.

 

We don't have a revenue problem

We have a spending problem

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1 minute ago, Z09 said:

We don't have a revenue problem

We have a spending problem

We should bomb Iran.  That won't cost much.

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1 minute ago, splunch said:

We should bomb Iran.  That won't cost much.

Why do you want a war?

 

The war you guys wanted to bad with NK failed ..

Now Iran?

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3 minutes ago, Z09 said:

We don't have a revenue problem

We have a spending problem

 

Actually it is a revenue problem, when viewing revenue separately. For our GDP we should be producing much more revenue.

 

You just have rhetoric right now for the defense of trickle down economics. You failed.

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1 minute ago, WillFranklin said:

 

Actually it is a revenue problem, when viewing revenue separately. For our GDP we should be producing much more revenue.

 

You just have rhetoric right now for the defense of trickle down economics. You failed.

We have plenty of revenue

 

We have a spending problem

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1 minute ago, Z09 said:

We have plenty of revenue

 

We have a spending problem

 

It is a revenue problem.

 

Republicans are talking about cutting our entitlements because of it.

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Just now, WillFranklin said:

 

It is a revenue problem.

 

Republicans are talking about cutting our entitlements because of it.

We should be doing much cutting..

 

How about NOT giving benefits to people here illegally...?

 

That might help

 

Healthcare for illegals? 

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$200+ Billion Yearly to the redneck states....Lets start there!

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2 hours ago, Z09 said:

We should be doing much cutting..

 

How about NOT giving benefits to people here illegally...?

 

That might help

 

Healthcare for illegals? 

 

Illegals don't get any entitlements now.

 

And our own citizens are doing without because Republicans don't know how to raise revenue.

 

Republicans say help our citizens first. But then when we try to help our own citizens they cry "socialism"!

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1 hour ago, WillFranklin said:

 

Illegals don't get any entitlements now.

Notice how shilly says "now"?

Shilly wants to give illegals benefits!!!

1 hour ago, WillFranklin said:

Republicans say help our citizens first. But then when we try to help our own citizens they cry "socialism"

you mean democrats care more for illegals than American citizens shilly. democRATS have proven that fact over and over!!

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9 hours ago, WillFranklin said:

 

It is mostly the corporations, then the wealthy, that made off with almost all of the tax breaks, which has now busted the budget. And the law says corporate taxes will stay low but ours will go back up.

Then I guess the reduction in my total taxable income for 2018 was just an illusion. 

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2 hours ago, WillFranklin said:

 

Illegals don't get any entitlements now.

 

And our own citizens are doing without because Republicans don't know how to raise revenue.

 

Republicans say help our citizens first. But then when we try to help our own citizens they cry "socialism"!

Illegals don't get any entitlements?

 

Do you have any clue what you're talking about?

They most certainly do

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2 hours ago, Z09 said:

Illegals don't get any entitlements?

 

Do you have any clue what you're talking about?

They most certainly do

 

They pay for them.

 

But where do undocumented immigrants receive Medicaid, Medicare, or Social Security?

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3 hours ago, Redoctober said:

Then I guess the reduction in my total taxable income for 2018 was just an illusion. 

 

I mean the government budget that depends on the revenue  was busted

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7 hours ago, WillFranklin said:

 

It is a revenue problem.

 

Republicans are talking about cutting our entitlements because of it.

We have an economy that is STILL stuck in the Great Recession,

that will collapse if we don't borrow, spend, and lend massive amounts of money.

A president that is screaming for MORE BORROWING BY THE FED.

Are these "conservative" clowns even on the same planet?

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8 hours ago, WillFranklin said:

 

It is a revenue problem.

 

Republicans are talking about cutting our entitlements because of it.

One of the ways that capitalists run a business,

is that they make a change that is supposed to make money.

If that change DOES NOT MAKE MONEY,

THEY STOP SPENDING ON IT.

if the Great "conservative" tax plan is a loser,

you retract the plan.

Isn't that what the people who want to run the government like a business, are supposed to want?

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35 minutes ago, peter45 said:

One of the ways that capitalists run a business,

is that they make a change that is supposed to make money.

If that change DOES NOT MAKE MONEY,

THEY STOP SPENDING ON IT.

if the Great "conservative" tax plan is a loser,

you retract the plan.

Isn't that what the people who want to run the government like a business, are supposed to want?

 

That is by far the best argument, and is exactly the spirit of what I have been saying.

 

Please go on.

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