Do conservatives think massive debt created by upper class tax cuts is okay?

[Indydave]

Do conservatives think massive debt created by upper class tax cuts is okay?

Trump’s Wasteful Tax Cuts Lead To Continued Trillion Dollar Deficits In Expanding Economy

If tax cuts actually paid for themselves, they would reduce deficits based on faster growth. Deficits shot up in the wake of the 2017 supply-side tax cuts. And CBO forecasts that those deficits will continue to stay high -- the opposite of tax cuts paying for themselves.

www.google.com

trickle down has been a failure since Reagan......conservatives know this as well as liberals.....but the idea was to bankrupt the nation and then welfare programs would have to be eliminated.....unfortunately for Reagan and all the subsequent trickle downers, it did not take long to realize the tax cuts for the rich did not result in national investment......those who benefitted pocketed the money.....and who could blame them......so the end result was millions of poor people and lower income people had no money to spend and sustain the economy......so they decided to print money

 

[bave]

trickle down has been a failure since Reagan......conservatives know this as well as liberals.....but the idea was to bankrupt the nation and then welfare programs would have to be eliminated.....unfortunately for Reagan and all the subsequent trickle downers, it did not take long to realize the tax cuts for the rich did not result in national investment......those who benefitted pocketed the money.....and who could blame them......so the end result was millions of poor people and lower income people had no money to spend and sustain the economy......so they decided to print money

And yet real household incomes from then until now have risen to the highest in the developed world, while at the same time having the most progressive code in the world.

Yet, you complain of this?

 

[Indydave]

And yet real household incomes from then until now have risen to the highest in the developed world, while at the same time having the most progressive code in the world.

Yet, you complain of this?

I am not complaining.....but our politicians are the first to complain about the national debt.....when they keep cutting taxes and never stop the spending.....why don't they stop the spending ....because it would result in a national depression for one and for number two cutting the spending would get them voted out of office

 

[bave]

I am not complaining.....but our politicians are the first to complain about the national debt.....when they keep cutting taxes and never stop the spending.....why don't they stop the spending ....because it would result in a national depression for one and for number two cutting the spending would get them voted out of office

I don't think it would cause a depression. What I am suggesting is a consistent readjustment of entitlement benefits and federal spending. SS needs to be indexed to life expectancy, Medicare as well. Medicaid/Medicaid need spending/coverage restrictions so we stop throwing money into lost causes that aren't actually helping themselves.

 

[Kushinator]

I don't think it would cause a depression.

Balancing the budget in one fell swoop? That's a foregone conclusion.

SS needs to be indexed to life expectancy

That's ridiculous. People who actually need the help won't be alive long enough to receive it and those who do not depend on these programs will just use it to substitute retirement drawdown. The end result is less overall consumption.

Medicare as well. Medicaid/Medicaid need spending/coverage restrictions so we stop throwing money into lost causes that aren't actually helping themselves.

The majority of ones lifetime health care expense will be generated in the last years of life. We need more doctors, nurses, and medical technicians.

 

[jonny5]

I am not complaining.....but our politicians are the first to complain about the national debt.....when they keep cutting taxes and never stop the spending.....why don't they stop the spending ....because it would result in a national depression for one and for number two cutting the spending would get them voted out of office

Stopping spending, by which I assume you mean balancing the budget, would not cause a depression. We did it in the 90s and almost in the 00s (which was only stopped by over lending). Depressions are caused by consumer confidence. Balancing the budget would actually increase confidence.

 

[mrjurrs]

Do conservatives think massive debt created by upper class tax cuts is okay?

Trump’s Wasteful Tax Cuts Lead To Continued Trillion Dollar Deficits In Expanding Economy

If tax cuts actually paid for themselves, they would reduce deficits based on faster growth. Deficits shot up in the wake of the 2017 supply-side tax cuts. And CBO forecasts that those deficits will continue to stay high -- the opposite of tax cuts paying for themselves.

www.google.com

Depends on what party suggests it.

 

[Indydave]

Stopping spending, by which I assume you mean balancing the budget, would not cause a depression. We did it in the 90s and almost in the 00s (which was only stopped by over lending). Depressions are caused by consumer confidence. Balancing the budget would actually increase confidence.

we have always had a national debt ......Nixon had the lowest but it has always increased since then with the exception of the Carter and Clinton administrations (go figure) Reagan started all this with his tax cuts and continuing to spend......trickle down failed under Reagan and all the subsequent administrations since......it failed because the rich and Wall St who benefitted from the cuts had no incentive to re-invest in American business and economy......it's a no brainer.....why would you or I if given a tax cut be compelled to invest that savings without a lucrative return.....and as I stated none of these potus' had the nads to cut welfare spending because they knew the ramifications

 

[jonny5]

we have always had a national debt ......Nixon had the lowest but it has always increased since then with the exception of the Carter and Clinton administrations (go figure) Reagan started all this with his tax cuts and continuing to spend......trickle down failed under Reagan and all the subsequent administrations since......it failed because the rich and Wall St who benefitted from the cuts had no incentive to re-invest in American business and economy......it's a no brainer.....why would you or I if given a tax cut be compelled to invest that savings without a lucrative return.....and as I stated none of these potus' had the nads to cut welfare spending because they knew the ramifications

No, revenue also went up under Regan. It almost doubled. Taxes have nothing to do with anything. No matter what tax rates are, the govt gets about the same amount of taxes. This all started with Truman in 1945 with the expansion of govt into Healthcare, which now accounts for the ENTIRE deficit.

 

[Yes_Minister]

No, revenue also went up under Regan. It almost doubled. Taxes have nothing to do with anything. No matter what tax rates are, the govt gets about the same amount of taxes. This all started with Truman in 1945 with the expansion of govt into Healthcare, which now accounts for the ENTIRE deficit.

How much did Reagan reduce the debt by in terms of a dollar amount?

 

[jonny5]

How much did Reagan reduce the debt by in terms of a dollar amount?

0. How is that relevant to taxes?

 

[Yes_Minister]

0. How is that relevant to taxes?

Actually he increased the debt.

U.S. national debt tops $1 trillion, Oct. 22, 1981

On this day in 1981, the U.S. gross national debt crossed the $1 trillion mark for the first time.

www.politico.com

If Republicans claim tax cuts pay for themselves, why won't they use that money to pay down the debt, if they are so concerned with that?

Is it because conservatives are hypocrits when it comes to debt and will not apply the same standards to Republican politicians as they do with Democratic ones? Is because these tax cuts don't pay for themselves? Conservatives like Dick Cheney and Rush Limbaugh know that fiscal conservativism is a con job:

O'Neill says Cheney told him, `Deficits don't matter'

www.google.com

Rush Limbaugh: Deficits are fine, GOP attacks on Obama were "bogus"

Death of the deficit hawks: "Nobody is a fiscal conservative anymore," says host who drove the Tea Party uprising

www.salon.com

 

[jonny5]

Actually he increased the debt.

If Republicans claim tax cuts pay for themselves, why won't they use that money to pay down the debt, if they are so concerned with that?

Is it because conservatives are hypocrits when it comes to debt and will not apply the same standards to Republican politicians as they do with Democratic ones? Is because these tax cuts don't pay for themselves? Conservatives like Dick Cheney and Rush Limbaugh know that fiscal conservativism is a con job:

You asked how much he reduce it, not increased it. Republicans are wrong when they say tax cuts pay for themselves, just like democrats are wrong when they say tax cuts dont pay for themselves. Tax cuts are not spending. Yeah, Republicans are hypocrits. So are democrats. News at 11!

Now whats your point? Whats any of that got to do with the actual cause of deficits and debt, SOCIAL SPENDING.

 

[yankintx]

Do conservatives think massive debt created by upper class tax cuts is okay?

Trump’s Wasteful Tax Cuts Lead To Continued Trillion Dollar Deficits In Expanding Economy

If tax cuts actually paid for themselves, they would reduce deficits based on faster growth. Deficits shot up in the wake of the 2017 supply-side tax cuts. And CBO forecasts that those deficits will continue to stay high -- the opposite of tax cuts paying for themselves.

www.google.com

What they will tell you in response is that cutting the budget, social programs should be done along with the tax cuts.

Since B Clinton social programs have already been cut drastically. The real cuts should be in the DoD budget, but neither party wants to be accused of not supporting the military.

And nothing will be done to draw down the debt until the DoD budget is made leaner and meaner.

There is no other way forward to reduce the debt.

 

[Yes_Minister]

You asked how much he reduce it, not increased it. Republicans are wrong when they say tax cuts pay for themselves, just like democrats are wrong when they say tax cuts dont pay for themselves. Tax cuts are not spending. Yeah, Republicans are hypocrits. So are democrats. News at 11!

Now whats your point? Whats any of that got to do with the actual cause of deficits and debt, SOCIAL SPENDING.

I was being facetious with that question, because I knew that Reagan increased the debt, so all these claims of fiscal responsibility in regards to Reagan.

We have had several Republican administrations since Reagan and all of them have raised the debt, why is that?

Do you think 700 billion dollars on the military each year pays for itself? Why does Canada spend less on health care than the US?

My point is I roll my eyes when conservatives talk of fiscal conservativism because I know they are hypocrits, they will never apply the same standards to their precious conservative elites as they do to everyone else, the conservative base will allow conservative elites to spend money on anything they want and will barely complain.

 

[jonny5]

I was being facetious with that question, because I knew that Reagan increased the debt, so all these claims of fiscal responsibility in regards to Reagan.

We have had several Republican administrations since Reagan and all of them have raised the debt, why is that?

Do you think 700 billion dollars on the military each year pays for itself? Why does Canada spend less on health care than the US?

My point is I roll my eyes when conservatives talk of fiscal conservativism because I know they are hypocrits, they will never apply the same standards to their precious conservative elites as they do to everyone else, the conservative base will allow conservative elites to spend money on anything they want and will barely complain.

I never claimed Reagan was fiscally responsible, but as usual, the President is only one part of the problem. Republican administrations are only part of the problem, and you know it. The problem is mandatory spending. Do you deny that?

 

[rahl]

No, revenue also went up under Regan. It almost doubled. Taxes have nothing to do with anything. No matter what tax rates are, the govt gets about the same amount of taxes. This all started with Truman in 1945 with the expansion of govt into Healthcare, which now accounts for the ENTIRE deficit.

this is conservative math and fiscal understanding. Which is why the increase the debt by orders of magnitude more than do democrats.

 

[ttwtt78640]

I don't think massive debt is okay no matter HOW it is created. Tax cuts...increased spending. It's all bad if it creates massive debt.

I prefer we toss the entire tax code into the trash and start over...and do the same with spending.

I agree with you, but that is not going to happen so long as keeping what exists gets congress critters re-elected at rate of over 90%.

 

[Yes_Minister]

I never claimed Reagan was fiscally responsible, but as usual, the President is only one part of the problem. Republican administrations are only part of the problem, and you know it. The problem is mandatory spending. Do you deny that?

Republicans are the ones complaining about the debt when in opposition, why can't they reduce it when in power?

Republicans want other people to adhere to a fiscal conservative economic policy that they themselves do not believe in.

 

[Bullseye]

Republicans are the ones complaining about the debt when in opposition, why can't they reduce it when in power?

Republicans want other people to adhere to a fiscal conservative economic policy that they themselves do not believe in.

Wrong. The only way to reduce the debt is to spend less that we take in and pay down the debt with the remainder. Almost 2/3s of spending is mandatory - things like interest on the debt. What's left after that would fund government for three months.
So which 3/4s of government operations do you want to axe?

 

[Yes_Minister]

Wrong. The only way to reduce the debt is to spend less that we take in and pay down the debt with the remainder. Almost 2/3s of spending is mandatory - things like interest on the debt. What's left after that would fund government for three months.
So which 3/4s of government operations do you want to axe?

So then Republicans are lying when they want to reduce the debt?

I got a idea, end the war on terror and put the money being spent there back into the US. That would be a win win for everyone except corrupt defense contractors.

 

[iguanaman]

I didn't read the article, so I assume it's focused on income taxes -- a tax that roughly 52% of wage earners don't pay. My question would be .. if it's a lack of revenue, why are we lasered focused on the top x% instead of the equal outcomes where everyone is contributing?

Because taxing incomes of people that spend it all in the economy is self defeating. 100% of that money comes straight out of GDP as reduced consumer spending. Do you want a recession? Raising taxes on those that make a $million a year does not effect their spending only the size of their nest eggs which are already astronomical.

 

[jotathought]

Because taxing incomes of people that spend it all in the economy is self defeating. 100% of that money comes straight out of GDP as reduced consumer spending. Do you want a recession? Raising taxes on those that make a $million a year does not effect their spending only the size of their nest eggs which are already astronomical.

Yet .. we are most likely going to be heading into a recession .. imagine that .. you can only tax the rich so much .. then you run out of other people's money. For a 3rd world country perspective .. even the poorest here are most likely seen as rich.

 

[iguanaman]

Yet .. we are most likely going to be heading into a recession .. imagine that .. you can only tax the rich so much .. then you run out of other people's money. For a 3rd world country perspective .. even the poorest here are most likely seen as rich.

Stop with the memes. There is no way to "run out of money" when the Govt. owns the mint. The Fed does not see a recession in our future instead they may need to raise interest rates to cool an overheated economy. Those that spend all their income in the economy are the backbone of our nation, the very idea that they should pay more taxes is ludicrous. Pay them enough to afford income tax and they will be glad to pay it. The whining of the filthy rich is pitiful too. We have coddled them far too much and their heads have swelled.

 

[jotathought]

Stop with the memes. There is no way to "run out of money" when the Govt. owns the mint. The Fed does not see a recession in our future instead they may need to raise interest rates to cool an overheated economy. Those that spend all their income in the economy are the backbone of our nation, the very idea that they should pay more taxes is ludicrous. Pay them enough to afford income tax and they will be glad to pay it. The whining of the filthy rich is pitiful too. We have coddled them far too much and their heads have swelled.

How is the government funded? Why aren't those on government assistance programs routinely becoming widely successful in life?