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@SirAnonymous
Yes, but it also would have included the $1.9 trillion stimulus package from Biden.
Ok, that’s true. But the stimulus package was necessitated by the economy Trump passed on to Biden, including 16% unemployment. Biden passed the stimulus to respond to the economic situation that arose from Trump’s mishandling of Covid.
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@SirAnonymous
Trillion dollar deficit, singular.
No, he had 3. 3 out of 4 budgets. FY 2021, 2020, and 2019(rounding 985 billion)
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@SirAnonymous
spending excess trillions is also a cause.
You mean Trump’s trillion dollar deficits?
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From your Brookings article: “The TCJA did not pay for itself, nor is it likely to do so in the future. There are many debates to have about the TCJA, but whether it raised or reduced revenues in 2018 should not be one of them”
The deficit in 2017 was 665 billion - This was an Obama FY budget starting October 1, 2016
The deficit in 2018 was 779 billion - This budget began October 1, 2017 before the TCJA was signed by Trump on December 22, 2017
The deficit in 2019 was 985 billion - https://www.fiscal.treasury.gov/reports-statements/financial-report/2019/government-financial-position-and-condition.html#:~:text=During%20fiscal%20year%202019%2C%20the,24.7%20percent)%20to%20%241.4%20trillion.
The deficit in 2020 was 3.1 trillion - This budget began October 1, 2019, before Covid arrived. The 2 trillion dollar CARES Act bill passed in 3/2020 but the deficit already exceeded a trillion dollars.
The deficit in 2021 was 2.8 trillion - This was Trump’s last budget
So why did we do it? It didn’t help poor people the way Clinton did. It didn’t increase revenues. It didn’t grow the economy (annual GDP growth didn’t exceed 3%) All it did was make rich people richer.
Republicans did it to take care of their donors.
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@SirAnonymous
It's the price we pay for spending trillions of dollars more than usual.
It’s the price we pay for low unemployment, growing GDP, and supply chain issues related to Covid and the war in Ukraine
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Good.Productive people should be rewarded instead of lazyass socialists. A lesson people will learn after this upcoming massive recession is over.
all the biggest recessions in this country have been ushered in by Republican Administrations
The Hoover Depression
The Reagan recession
The Great Bush recession
The Trump Covid recession
A guy like you would have no chance without government. You would starve.
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Just saying, you loved the period with a Democrat president and a GOP Congress. I liked that time as well. Government was forced to behave.
Republicans have mostly bad ideas. (like ending Glass-Steagle) They are focused on making rich people richer. That’s their priority.
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Clinton took office in 1993 with a Democrat House and Senate. The Omnibus Bill they passed over Republican opposition in 1994 set the stage for budget surpluses in FY 1998-2001
Non-defense discretionary spending fell from 3.6% GDP in 1993 to 3.2% GDP by 2000 but In dollar terms, it grew from $248B in 1993 to $343B in 2000; robust economic growth still enabled the ratio to fall relative to GDP.[1]
These surpluses 1998-2001 were attributed to a strong economy generating high tax revenues, tax increases on upper-income taxpayers, spending restraint, and capital gains tax revenue from a stock market boom.[13].
You could give a tiny amount of credit to Republicans for the tiny amount of spending restraint they pushed for, but Republicans are only interested in spending restraint when there is a Democrat in the White House.
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Just pointing out you praised Clinton's performance with a GOP controlled Congress.
The GOP did not help pass this successful bill. They opposed it. They repealed the tax increases on the wealthy in 2017 and blew up the budget
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After extensive lobbying by the Clinton Administration, the House narrowly voted in favor of the bill by a vote of 218 to 216.[8]The budget package expanded the earned income tax credit (EITC) as relief to low-income families. It reduced the amount they paid in federal income and Federal Insurance Contributions Act tax (FICA), providing $21 billion in savings for 15 million low-income families.
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So a GOP controlled Congress with a Democrat president.
Clinton signed the Omnibus Budget Reconciliation Act of 1993 into law on August 10, 1993. The law created a 36 percent to 39.6 percent income tax for high-income individuals in the top 1.2% of wage earners. Businesses were given an income tax rate of 35%. The cap was repealed on Medicare.
Clinton also deregulated the finance industry (both tacit and overt through the Gramm–Leach–Bliley Act) and was a contributing factor to the Great Recession. That’s what happens when you embrace Republican ideas.
In proposing a plan to cut the deficit, Clinton submitted a budget and corresponding tax legislation (the final, signed version was known as the Omnibus Budget Reconciliation Act of 1993) that would cut the deficit by $500 billion over five years by reducing $255 billion of spending and raising taxes on the wealthiest 1.2% of Americans.[5] It also imposed a new energy tax on all Americans and subjected about a quarter of those receiving Social Security payments to higher taxes on their benefits.[6]
Republican Congressional leaders launched an aggressive opposition against the bill, claiming that the tax increase would only make matters worse. Republicans were united in this opposition, and every Republican in both houses of Congress voted against the proposal. In fact, it took Vice President Gore's tie-breaking vote in the Senate to pass the bill.
You are such a dummy GP. Just clueless
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When it prints the money it spends. There is no value added, no production but what is on paper.
Ya, Ponzi schemes don’t print money. And before the government prints money, it sells Treasury bills to investors.
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@SirAnonymous
So on we go adding trillions of dollars to the debt and pretending that it will never come back to bite us. I don't know how it will end, but it won't be pretty.
We had a balanced budget under Clinton. It can be done.
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Hate to bust your bubble, but Ponzi schemes such as government spending money they freshly printed and called it "gdp" isn't actual growth. Every economist knows we are headed for a hard fall.
A Ponzi scheme is when someone pays an early investor with funds from a later investor. How is government spending a Ponzi scheme exactly?
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I don't care who you cheer for in politics, this kind of stuff should concern everybody.
Stop watching FOX News to get information you idiot
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@SirAnonymous
It can also raise taxes.
We are talking about the 2017 Tax Law and how it’s cuts for corporations and the wealthy caused the deficit to top 1 trillion.
Your answer to cutting taxes is to raise taxes. The would suggest the 2017 Tax Law was stupid.
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@SirAnonymous
The tax cut was not the cause of the trillion dollar deficit. While it added to the deficit, it was far from the main cause.
Oh, Trump had a trillion dollar deficit long before anyone ever heard the word Covid. So what caused his massive deficit?
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@SirAnonymous
True, but math is hard, and partisan narratives are easy.
No, not true. Because the 2017 Tax Law was not anywhere near a flat tax cut.
They cut the tax brackets from 6 to 3 - the top tax bracket got the biggest cut eliminating the 39.6 bracket
They gave enormous tax deductions to pass through income benefiting millionaire and billionaire business owners.
They limited the deduction for state and local taxes to $10,000. A deliberate attack on Blue state taxpayers. In California a basic 1500 sqft ranch home costs over I million dollars and comes with a 10,000 property tax payment. That means all your state income tax is not deductible.
The eliminated personal exemptions - that’s $4400 per person in a family. So if you have just one kid, the doubling of the standard deduction was completely wiped out by the loss of personal exemptions.
They eliminated all work related deductions including the paying of union dues
The biggest tax cut went to C corporations cutting the rate from 35 to 21%
The Tax law was a windfall for corporations and wealthy people. Modest income homes got a small tax cut. Everyone else got squat or a tax increase.
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@SirAnonymous
Firstly, $645 isn't exactly a fortune, but I've never heard anyone complain about getting an extra $645.
To exchange $645 for a trillion dollar deficit is foolish for any middle class household. When the government is broke it has two choices. It can either cut services or increase debt. Either choice will hurt the middle class.
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@SirAnonymous
It's the exact same percentage so it's perfectly fair, but comparing absolute amounts makes it appear unfair even though it isn't.
As Robert Kiyasoki wrote in his book, you don’t put percentages in your pocket, you put dollars.
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Thankfully, the Congress reissued taxation on the producers of America during a recession. Because Congress loves them a good recession.
What recession you jackass? The 3rd quarter had 2.3% GDP growth and
The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the fourth quarter of 2022 is 4.3 percent on November 23, up from 4.2 percent on November 17.
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@TWS1405
The media and Congress affirmed it…publicly!!!
You’re using affirmed incorrectly again dummy!!! with 3 exclamation points
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@YouFound_Lxam
how Johnson made those decisions
You mean how Johnson traded his much needed yes vote for big tax cuts for his campaign donors?
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@YouFound_Lxam
Yes, but it talks about how Sen. Ron Johnson, made those decisions, and not Trump.
Are you giving Trump credit for this law or not? Trump certainly is taking credit for it.
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@YouFound_Lxam
Also, where do they get these "secret IRS files" exactly?
How do reporters get any information they use to write an article? That’s their job, to ferret out sources.
How did Bob Woodward and Carl Bernstein find out about the Pentagon Papers?
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@YouFound_Lxam
This article seems to be more about Sen. Ron Johnson, and just the title being aimed at Trump.
The article is about the Tax Law of 2017
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The richest 1% of taxpayers will get an average tax cut of $50,000 in 2020 from the Trump-GOP tax cuts. That’s over 75 times more than the tax cut for the bottom 80% of taxpayers, which will average $645.
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@YouFound_Lxam
Every president has lied. Do you really think that an example of him lying about having the biggest show on television proves that everything that comes out of his mouth is a lie? He might have not even known that it wasn't, and just didn't have his facts right.
OMG, you’re a sweet kid.
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@YouFound_Lxam
This article tells you who got their taxes cut
And this article shows you who didn’t get anything but a few crumbs
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@YouFound_Lxam
How can you say that it is a lie, then go on saying that it just went to the wealthy and corporations. You just denied it being true then confirmed it was true.And then I should ask you, which corporations specifically.
Because words having meaning you idiot.
He passed a tax cut. It wasn’t the biggest in history. What he did pass however, mainly benefited corporations and the wealthy.
Here’s an article that tells you who it benefited the most but I doubt you have the ability to read such a long article.
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@YouFound_Lxam
How? He did have the world's best economy at that time before the corona virus hit the U.S.
No, he didn’t. He also didn’t have the biggest show on television either, but he said he did. Trump is a liar.
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@YouFound_Lxam
Our third quarter growth was the fastest on recorded in data, going all the way back to 1947. Now how is that a flaw?
Because strong growth for just a quarter doesn’t amount to strong growth for the year. If you win in Vegas for 3 months, then you lose the same amount in Vegas the next 3 months have you gained anything? That’s why economists look at more than 3 months.
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And for the final time, I ask you to take a fact from this source: https://trumpwhitehouse.archives.gov/trump-administration-accomplishments/And find a flaw in the facts.
There’s a flaw starting with the very first line- “Donald Trump had an unprecedented economic boom”. The man never cracked 3% GDP growth even with 8 trillion in deficit spending - which is part of GDP. “Before the China Virus invaded our shores, we built the world’s most prosperous economy”
That is a blatant lie.
Signed the Tax Cuts and Jobs Act – the largest tax reform package in history.
That is a lie. And most of the tax cut went to corporations and the wealthy.
Claim: President Donald Trump has said that the recently passed Republican tax reform legislation is the "biggest tax cut in US history"
Verdict: It is not the biggest tax cut in US history, measured as either a percentage of US GDP or in absolute terms. It is however, the biggest corporate tax cut in US history.
Are you stupid?
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@Sidewalker
It's the white house archives on the trump administration.Again, I ask you to disprove anything in that article.
Can you believe this moron? The White House is a reliable source for how great the White House is.
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@YouFound_Lxam
Of course, you would use the insider as a source.
JC, you use Trump as a source on how great Trump is.
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@oromagi
GP is too dumb to understand facts. Everything you wrote is going over his head. Because he’s a dummy.
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@TWS1405
The ONLY affirmed “sexual predator” to ever sit in the Oval Office was Bill Clinton.
He’s affirmed? Is that right? Clinton publicly stated his commitment to being a sexual predator? You jackass
af·firm
/əˈfərm/
verb
past tense: affirmed; past participle: affirmed
1.
state as a fact; assert strongly and publicly.
"he affirmed the country's commitment to peace"
Ya, you are so smart you use affirm when confirm is correct.
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Imagine advising health policies for 360 million people and then hiding the science...
The population of this country is 330 million you idiot. You can’t even get basic facts correct.
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Republicans are so lame. They are always looking to make up a scandal because they are always implicated in real scandals.
This is just like the Benghazi “scandal” or the IRS BOLO lists, or Hillary’s emails.
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This is one of the biggest betrayals of the American people in US history.
WTF are you talking about? What exactly is the betrayal you stupid, stupid man.
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Why is it important to determine if the virus came from a wet market in China or from the Wuhan Lab?
Even if the NIH funded gain-of-function research at the Wuhan Institute of Virology in China. and the virus escaped from that lab, what would that mean? Whether the virus developed naturally or as a result of research, - legal, scientifically necessary research, why is this a burning question for Republicans?
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@YouFound_Lxam
So, his first impeachment were allegations, nothing proved. Second impeachment was not his fault.
That’s nonsense
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@YouFound_Lxam
He did not incite an insurrection. If you watched his whole speech, he said and I quote," I know that everyone here will soon be marching over to the Capitol building to peacefully and patriotically make your voices heard."
That’s brilliant. So if I tell you once that you are a very intelligent man when it comes to politics, but I also told you you’re a stupid moron 20 or 30 times then nobody could say I called you a stupid moron, right? Because I also said you were very intelligent.
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@YouFound_Lxam
Again, it is the White House's take on the Trump administration.
Hey dummy, do you not understand that the White House is the Trump Administration? Trump is saying that Trump did a great job.
Do you not get that?
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@YouFound_Lxam
but overall, he was an amazing president.
That is not the gist of the Politico article.
So this guy was impeached not once but twice, he was not re-elected to a second term and you are calling him amazing.
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@YouFound_Lxam
I have stayed calm and collective. I have stood confidentially with my sources. And I am confident with my argument.
Your source is the Trump White House. That’s why you are an idiot. And this is after you said I had to use “non-political sources”
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@YouFound_Lxam
One way to know that you're winning an argument, is when the opponent starts getting heated and starts name-calling.
Ya or you are really just an idiot.
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@YouFound_Lxam
also, this one.
Did you read the article from Politico? It is not especially favorable to Trump
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@YouFound_Lxam
Have you ever worn a mask and you could smell things? Well, those are the food partials (outside your mask) entering your nose (inside your mask).
JC you are an idiot.
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@YouFound_Lxam
I mean you could scroll down that website for about an hour, just reading all of his accomplishments, and most of them being things like "all time high" and "best ever in history".
You stupid idiot. Trump produced this website.
He also claims to use the best words. Has an all time great memory. Is the least racist person you are ever going to meet. The apprentice was the number one TV show in America… on and on. Trump lies! Trump lies every day. Trump lied over 30,000 times while in office. Are you dense?
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