Trump's Tax Plan

The devil's in the details, and if it isn't backed up by spending cuts then it's just trading taxes for borrowing with interest thrown in for good measure.
 
lotstodo said:
The devil's in the details, and if it isn't backed up by spending cuts then it's just trading taxes for borrowing with interest thrown in for good measure.
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Well, not necessarily. I'm a big believer in using tax cuts to make the pie bigger.

But I doubt congress will go along with his plan. Even most of the Republicans are Socialists.
 
Guard Dad said:
Well, not necessarily. I'm a big believer in using tax cuts to make the pie bigger.

But I doubt congress will go along with his plan. Even most of the Republicans are Socialists.
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Modern scoring methods, which allow for the growth generated by leaving the money in the private economy and the tax revenue generated by that growth, indicate that these particular cuts will add about $5.5 Trillion to the national debt over ten years. To be honest these methods tend to over estimate growth, meaning that the additional deficit will likely be more.

In very general terms, large tax cuts generate about half of the lost tax revenue in additional growth, meaning that we should be looking for $5 to $8 Trillion in spending cuts just to stay even. Tax cuts are good things, spending cuts are even better.
 
Guard Dad said:
Agreed on spending cuts.

But that's where congress doesn't cooperate.

Trump needs to learn how to use the bully pulpit and quickly.
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But he apparently believes this will "pay for itself". That's where the whole thing falls apart. It's actually Congress questioning the math. Of course the Congressional answer will be to cut taxes less, not cut spending. It's a never ending cycle of paying for today with our future.
 
lotstodo said:
But he apparently believes this will "pay for itself". That's where the whole thing falls apart. It's actually Congress questioning the math. Of course the Congressional answer will be to cut taxes less, not cut spending. It's a never ending cycle of paying for today with our future.
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I think he like many others think that reducing taxes alone will result in significant job growth that creates additional tax revenue by more people working and income going up. The only problem with that is, when Congress sees tax revenues increasing this way, they want to spend more. Instead, if they cut wasteful spending and used any increase in collected tax revenue to pay of debt; the country would be in good shape.
 
It's bigger than that.

We have too many people in this country on the pubic teat, which means not enough working snd paying the taxes needed to support anywhere near the spending our government does.

Any real recovery plan needs to include a plan for eventually transitioning people from welfare to self-sufficiency. Granted, this will require even more spending before we can cut it back. But we need to start transitioning away from theentitlement lifestyle now.
 
Guard Dad said:
It's bigger than that.

We have too many people in this country on the pubic teat, which means not enough working snd paying the taxes needed to support anywhere near the spending our government does.

Any real recovery plan needs to include a plan for eventually transitioning people from welfare to self-sufficiency. Granted, this will require even more spending before we can cut it back. But we need to start transitioning away from theentitlement lifestyle now.
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yep.that''s what people don't understand is it's a behavior model that has to be changed and the people who suck the money out of of others needs to realize its wrong. Changing a tax code will do nothing. Changing behavior and the repercussions for such entitlement attitude will. There are many people that this effects besides welfare recipients. Some people just think they can run people dry and do what they please under any conditions and they don't care how they get it. Unfortunately narcissim is rarely remedied.
Transitioning people to self-sufficiency is amazingly a lifetime endeavor for some people and they dont care who they hurt in the process.
 
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