U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

jonny5 · Nov 16, 2014

Grim17 said:
I realize I'm late to the discussion, but hasn't the government been collecting several different types of taxes imposed by Obamacare... Most of which were implimented at the beginning of the year?

Won't that have an effect on the budget deficit?

Full List of Obamacare Tax Hikes | Congressman Jeff Duncan

No, because the ACA costs more than its revenue so far.

Conservative · Nov 16, 2014

Dittohead not! said:
That depended on whether the lower taxes did or did not offset the lack of deductions under the plan made by Reagan's Congress. Under Obama's Congress, a part of the tax cuts was in the form of payroll taxes, which does affect everyone who pays payroll taxes, which is virtually everyone.

As for the tax cuts under Bush, Obama approved an extension of those, didn't he?

Payroll taxes are a use tax, Reagan and Bush cut income taxes. Payroll taxes took money from SS and Medicare and that is something people like you don't seem to understand. If you cut Payroll taxes you cut the funding for SS and Medicare which are currently trillions in debt

U.S. Deficit Decline to 2.8% of GDP Is Unprecedented Turn

jonny5

Conservative

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