Tax Cuts are Just Spending Increases; Wealthy Should Pay for Covid

Nov 2018
6,600
4,088
Rocky Mountains
I am always puzzled that Republicans love their tax cuts but never seem to see them as spending increases. Yet they rail against Democrats for spending increases. We should be seeing the real source of the worsening deficit as the Trump tax cuts.

As a consequence, we should be recognizing that the wealthy should be expected to correct the budget deficit in the future.
 
Feb 2020
1,641
596
Houston
Interesting theory, Biff.

About tax cuts being spending increases, I mean.

Also the part about the worsening deficits being a result of tax cuts.

Right now both sides are in the spend, spend, spend and spend some more mode, you agree?

If in the future there is "buyer's remorse" and the voters demand tax cuts, elect lawmakers who cut them and the deficit is not reduced, would you could consider that a type of theft?
 
May 2018
9,171
7,384
none
I am always puzzled that Republicans love their tax cuts but never seem to see them as spending increases. Yet they rail against Democrats for spending increases. We should be seeing the real source of the worsening deficit as the Trump tax cuts.

As a consequence, we should be recognizing that the wealthy should be expected to correct the budget deficit in the future.
Agreed, those tax breaks have to go.
 
  • Like
Reactions: GluteusMaximus
Nov 2018
6,600
4,088
Rocky Mountains
Interesting theory, Biff.

About tax cuts being spending increases, I mean.

Also the part about the worsening deficits being a result of tax cuts.

Right now both sides are in the spend, spend, spend and spend some more mode, you agree?

If in the future there is "buyer's remorse" and the voters demand tax cuts, elect lawmakers who cut them and the deficit is not reduced, would you could consider that a type of theft?
Tax cuts and breaks are essentially IRS approved spending.
The Simpson-Boyles Commission on the Deficit called it, I think, "spending within the tax code". By that they referred to the exceptions, deductions and exclusions that allowed many taxpayers, especially the wealthy to avoid paying the taxes that broadly they should have paid. The marginal rate is undermined by special exemptions or ways around the lawful rate.
 
Feb 2020
1,641
596
Houston
Tax cuts and breaks are essentially IRS approved spending.
The Simpson-Boyles Commission on the Deficit called it, I think, "spending within the tax code". By that they referred to the exceptions, deductions and exclusions that allowed many taxpayers, especially the wealthy to avoid paying the taxes that broadly they should have paid. The marginal rate is undermined by special exemptions or ways around the lawful rate.
Why do the Democrats allow that?
 
Jul 2018
3,219
1,038
Earth
I am always puzzled that Republicans love their tax cuts but never seem to see them as spending increases. Yet they rail against Democrats for spending increases. We should be seeing the real source of the worsening deficit as the Trump tax cuts.

As a consequence, we should be recognizing that the wealthy should be expected to correct the budget deficit in the future.
The financial system requires deficits so that investors can have secure investments =
The Benefits to Investors of Buying Treasury Bills

Wealthy people and organizations could easily eliminate the deficit by paying increased taxes instead of buying T-bills but the get to keep their money and gain a guaranteed return on it by trading in T-bills. The more money they have to invest the larger the deficit. There will always be federal deficits so don't worry about them.
 
Jul 2014
16,445
10,817
massachusetts
There's a sea change coming in November.
When the GOP controls the White House, the Senate and the House (it doesn't happen very often) but when it does, like in 1930, like in 2003, like in 2017 economic collapse follows.
And economic collapse sends people scurrying to vote Democratic.
What have in the cards for next few months will make the Bush collapse look like a spring rain shower.
We got some 1930's depression numbers coming, 20% unemployment, brother can you spare a dime shit.
Who do you think is going to get the blame for that at the polls?
The Democrats will probably control the White House, the House by a comfortable margin, and maybe not 60 votes in the Senate, but 52 or 53. Enough to dump the filibuster and pass the most progressive legislative package ever.
Including a reformed tax code, where wealthy people will pay taxes at a higher rate than the middle class, at a rate that will reduce the share of total wealth owned by the top 1% each and every year, like it did from 1930 to 1980.
We will be able to begin to repair the damage done by Reagan, Bush and Trump.
And coupled with the demographic changes, we should be able to return to the progressive path for a long long time.
 
  • Like
Reactions: GluteusMaximus
Mar 2020
1,429
371
Land of Freedom
Interesting theory, Biff.

About tax cuts being spending increases, I mean.

Also the part about the worsening deficits being a result of tax cuts.

Right now both sides are in the spend, spend, spend and spend some more mode, you agree?

If in the future there is "buyer's remorse" and the voters demand tax cuts, elect lawmakers who cut them and the deficit is not reduced, would you could consider that a type of theft?
Flops, I too was very confused, like you when I read the posts here but then I found the key.

in order to understand their logic, you need to get into the right mindset. Let me show you:

Suppose your wife runs off with the mailman…

Why, that cheating lousy no good bitch! Right?

But then you think… You know, that mailman weighs 100 lbs. more in fat than you… And he's kind of a slob… And he makes about 1/3 as much as you do! WTF?! Why would she do that…?

You might begin to think that maybe the mailman was the only way she could get away… from YOU!

Trump is the mailman. The voters are the wife.

And YOU are the Democrat Leftist Media Trump Hater… Who, after over two years… still hasn't figured out that the wife preferred the fat, ugly, poor mailman to YOU!

Did that help any Flops?
 
Jul 2018
3,219
1,038
Earth
There's a sea change coming in November.
When the GOP controls the White House, the Senate and the House (it doesn't happen very often) but when it does, like in 1930, like in 2003, like in 2017 economic collapse follows.
And economic collapse sends people scurrying to vote Democratic.
What have in the cards for next few months will make the Bush collapse look like a spring rain shower.
We got some 1930's depression numbers coming, 20% unemployment, brother can you spare a dime shit.
Who do you think is going to get the blame for that at the polls?
The Democrats will probably control the White House, the House by a comfortable margin, and maybe not 60 votes in the Senate, but 52 or 53. Enough to dump the filibuster and pass the most progressive legislative package ever.
Including a reformed tax code, where wealthy people will pay taxes at a higher rate than the middle class, at a rate that will reduce the share of total wealth owned by the top 1% each and every year, like it did from 1930 to 1980.
We will be able to begin to repair the damage done by Reagan, Bush and Trump.
And coupled with the demographic changes, we should be able to return to the progressive path for a long long time.
We will have a depression if we continue to play by the same rules because the Third World countries will have the trump flu by then. International air travel will be slim to none. It is doubtful if the air crews will be willing to fly into the hot spots and risk their lives for a paycheck. In addition to that the planes would become heavily infected which would put the mechanics and ground crews at risk.

There are still lots of places in Canada, the US, Mexico, and the Caribbean for the trump virus to explode.

Of course we can ignore it and people who get the virus will either live or die and since it doesn't seem to kill everyone who gets infected people may go with that choice. In that case it will cause hell in the medical field.

I think we are screwed for the next 18 months, if not longer.