Here We Go!

Here We Go! Because Puppet Trump "kept his campaign promise" by signing the tax bill by Christmas 2017, these cuts to Federal programs will happen in 2018! His Majesty's cowardly subordinates in the House and Senate are unlikely to change this situation, as many of them are opposed to the programs themselves. Happy New Year, America!
https://www.nytimes.com/interactive/2017/11/29/upshot/paygo-medicare-cuts-tax-bill.html

Comments

  1. Leonard Smith I agree. My rant may have been a bit misdirected. The situation is mostly of Ryan's creation and might well have happened under any Republican President. Trump made things much worse by being in such a hurry to sign the thing, however. If he had waited until 2018 to sign it, the Medicare cuts would not have happened until after the 2018 elections. This way, all these agencies will see cuts in effect in 2018 and the hardship will become evident immediately.

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  2. Michael Poindexter If we were truly interested in generating income sufficient to run government agencies, we would tax the people ("people" includes corporations these days) who have the money. A "tax reform" that taxes those who don't have any money in the first place will not generate any income, only deficits. This tax bill was not designed to generate Federal income. It was crafted to deprive the Federal government and certain carefully selected states of income.

    Let us be frank with one another. I support the UN. I support welfare for ordinary citizens. I do not support welfare for the wealthy. (That's a waste, indeed!)

    Even when I disagree with their politics, I value the contributions that relatively recent immigrants such as the Trump family make to the USA, and hate to see us turn talented people away at our borders based on their race, religion, ethnicity or country of origin.

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  3. Michael Poindexter You say, "The wealthy now pay almost half the taxes in this nation.How much more are they expected to pay?" Hmm... I believe the figure for 2016 was they paid 70% [ https://goo.gl/TgJ9c8 ]

    But wait! Why are we preoccupied with the plight of the unfortunate greedy? Who teaches compassion for the wealthy? Certainly not the Bible! [ https://goo.gl/UFxiYE ]

    Good grief! Who would have guessed? Our "teachers" are the wealthy themselves... and those wily Congresscritters they have purchased. I have absolutely no compassion for Moaning Millionaires! (And as a class, they show none for you or me, by the way.) [ https://goo.gl/pZGNoX ] Billionaires, take your complaints about tax "fairness" elsewhere!

    To generate income, it is necessary for governments to tax the people who have the money. Back in 1950, Americans understood this.

    https://lh3.googleusercontent.com/yUUosGs1oFQOKOakBpZ2eKztC-_ebElW-liETtAvtrlytp5HG3sN_ZAbR1xs6Iq9v3wUiCY9uiNhxoY-R--l0qaOMoCLh-46xrtv=s0

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  4. By the way, for those following this discussion, we are talking about income taxes here. From [ https://goo.gl/TgJ9c8 ] comes a chart that points out additional sources of Federal income over the years. Of particular interest is the Corporate Income tax share of the total. (Click image to enlarge.)
    https://lh3.googleusercontent.com/URyjZuusMNX3mC451pIx81XGrANVT7r1XJW4KobZAfP7rO7G6frGJPL2RR3h9xbu7qBY9QCf9z7eggle3K3VPZ-sp8guTVERZOGo=s0

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  5. cantaleya ay Thanks for stopping by! Google flags xxx posts for deletion in this comments field. Please keep your posts on topic.

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  6. Patricia Ross Thanks for stopping by! Contemporary advertising is not permitted in this comments field. Google flagged your comment as spam and it was deleted.

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  7. Michael Poindexter You say, "Higher growth as a result of tax reform can generate revenue." Yes, higher growth does generate revenue. Tax "reform" can do this. Tax "cuts," however, do not always create growth.

    This is what is known as a "talking point." It is repeated ad nauseum, always in reference to tax cuts, not tax increases. It has yet to be substantiated by the American experience, which indicates this is really a crap shoot. Lowering taxes on the greedy usually has no effect on growth. Sometimes raising taxes stimulates growth, too! Here's a review of this history as reported by the Congressional Research Service: [ *https://goo.gl/M1rHr5 ]

    A "creator of the GOP tax myth" explains the situation here: *[ https://goo.gl/6r9LRL ]

    Guess we'll just have to wait! We should begin to "feel" the effects in the coming year.
    washingtonpost.com - I helped create the GOP tax myth. Trump is wrong: Tax cuts don’t equal growth. - The Washington Post

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  8. Michael Poindexter The tax rate on the greediest has declined over several decades beginning in the 1960s. (see my earlier comment for that chart) Below (click to enlarge) you can see the rise in the GDP just after these taxes were increased in the 1990s. High taxes or low, it looks from this chart that US GDP has been on a steady decline since World War II. On the other hand, dips in GDP have been moderating, too. There must be something besides taxes that's going on here. Perhaps it is the gradual transition from a manufacturing to a service economy.
    upload.wikimedia.org

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  9. Getting into the economic weeds is not something I intend to do, but if anybody wants to track Federal revenues, the site below may be of interest:
    usgovernmentrevenue.com - US Government 20th Century Revenue History with Charts - a briefing

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