Like that between revelations about Roy Moore and Al Franken, Congress voted to blow a $1.5 TRILLION hole in the national debt? And, amazingly, they've managed to give a huge permanent gift to corporations while fucking over the middle class? Good times!
Do you not remember the 80s?
Study your history, UsedUp, that was when Reagan's tax laws blew the original hole in the budget and set us on the path to gigantic national debt.
"During Reagan's presidency, the national debt grew from $997 billion to $2.85 trillion. This led to the U.S. moving from the world's largest international creditor to the world's largest debtor nation. Reagan described the new debt as the "greatest disappointment" of his presidency."
So thanks for that.
Go study what happened with tax revenue. It doubled. Then study where spending bills originate. Not the president or tax policies. Then learn where spending bills originate: the Dimocrat controlled House of Representatives. And stop trying to make up "history" on my board.
So tax revenue went up. So what? The debt went up faster, which was my point. Otherwise why would the national debt have exploded. And please don't lecture me about how the government works. The fact is it was Reagan's agenda and he and his staff worked very well with the Democrat-controlled Congress to get it passed. It was still Reagan's program. And did you miss the part about him regretting it in later years?
So you're not just making up history, you're in serious denial.
Oh, and it's not your board. It's mine.
Dunce
So tax revenue went up. So what? The debt went up faster, which was my point. Otherwise why would the national debt have exploded.
And please don't lecture me about how the government works. The fact is it was Reagan's agenda and he and his staff worked very well with the Democrat-controlled Congress to get it passed. It was still Reagan's program. And did you miss the part about him regretting it in later years?
So you're not just making up history, you're in serious denial.
Oh, and it's not your board. It's mine.
Dunce
Reagan signed not only the tax plan but all the budgets that spent all that money and created all that debt. Only in your Bizzarro World is Reagan responsible only for cutting taxes (but not for raising them) but not responsible for spending the money. See, he was President. And no bill becomes law unless he signs it. Are you saying he vetoed all those spending bills and Congress overrode them? You really are hilarious. Stupid, but hilarious.
Yeah, Reagan cut taxes once, and then he raised taxes 15 times. F’ing Repubs conveniently forget the latter.
The rest of the fake tax plan is that they assume that they’ll cut $1 trillion in expenses - but, they, of course, don’t bother to state even 1 $ of cuts. G.Cohn, in a meeting of CEO’s asked how many would increase investments once they get their tax cut. All of 3 outta the whole bunch raised their hands - Cohn asked “why.” My fave lie is that people will get $4-5,000 pay raise. This is LOL funny! I run a small business of 30 ee’s. If my company gets a tax cut, why in-the-hell would I increase salaries vs. keeping the $$ myself?!
I should vote for Repubs and get my double tax cut - one cut for my biz and a 2nd cut for me personally. But, I won’t vote Repub......ever.....never
"if you like your health care, you can keep your health care?"
Substantial savings for trailer park dwellers!
Actually, one we know is a lie. The other, you pretend to know is a lie.
The elimination of deductions for State Income Taxes and limiting property tax deductions to $10,000 will make it hard and impossible for State and Local Governments to increase taxes. It will be opposed as it will be double taxation, local and Federal. These are the taxes that go to pay for Law Enforcement, Schools, Firefighters and Roads.
If response to 911 calls sucks, roads get pot holes and schools get sub standard, you know where the blame goes.
Gone, personal exemptions $4,050 per person, gone deductions for state income taxes, deductions for county property taxes maxed out at $10,000. A townhouse owner in NJ pays over $6,000 in annual property taxes. Forget single family home owners.
A family of 5 renting their home will see their taxable income go up $8,900. ($4,050 x 5 = 20,200. Current Standard Deduction $12,700. Total deduction $32,900). GOP tax Standard Deduction $24,000.
It will be a massive tax increase for families making $75,000 and up and to $500.000 depending upon which State they live. An income of $500,000 in Los Angeles, San Francisco, New York is like $100,000 in Houston.