I would do that but I worry he might find where I live and kill all of us in our sleep.
Tax Cuts and Jobs Act
- Thread starter Spartans9312
- Start date
Did you watch the Cato videos I linked in the moderate thread? That will be a major fight on the Republican side.
I think Cato did a piss poor job making their point….or there is nothing to defend
Not sure about that but if you notice in the following article revenue increased more from 2016 to 2023 than it did from 2008-2015. I don't pretend to understand all of what goes into getting to the revenue numbers.
U.S. Federal Government Tax Revenue
The federal government generates tax revenue through sources like income and corporate taxes. Learn how much tax revenue the U.S. generates each year.
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I don't understand how they get their numbers either. I suspect they could manipulate them if they wanted to by not counting certain monies as revenue etc. Thanks for the article. It does point out that tax cuts work to create revenue no matter how you calculate it.Not sure about that but if you notice in the following article revenue increased more from 2016 to 2023 than it did from 2008-2015. I don't pretend to understand all of what goes into getting to the revenue numbers.
U.S. Federal Government Tax Revenue
The federal government generates tax revenue through sources like income and corporate taxes. Learn how much tax revenue the U.S. generates each year.www.thebalancemoney.com
The only cuts that matter they won't make. Social Security and Medicare are two of the biggest deficit drivers now and they are expected to be the biggest drivers over the next decade.
All of the things that "DOGE" people are talking about is negligible. The government spends most of its money on Social Security, Medicare, Defense, and interest on the debt. You would have to cut everything else to zero to get in balance.
Economic growth / output and tax revenues are not the same, and despite correlation, tax cuts may not bring in necessary additional revenues required to “pay for themselves “.
The only cuts that matter they won't make. Social Security and Medicare are two of the biggest deficit drivers now and they are expected to be the biggest drivers over the next decade.
All of the things that "DOGE" people are talking about is negligible. The government spends most of its money on Social Security, Medicare, Defense, and interest on the debt. You would have to cut everything else to zero to get in balance.
If DOGE were intended to be a serious operation they would focus 100% of their efforts on CMS. Fraud alone in Medicare and Medicaid is estimated at $100B/yr.
They plan to punt the tax work until late next year. And do the 'easier' reconciliation bill first. Though the reality is they will have difficulty passing anything where you can only lose 2 votes in the House on a partisan reconciliation bill. The tax bill is going to be a very difficult lift.
I believe it does pay for itself because it makes the pie larger. The economy is not static. It can grow or detract. If economic growth takes place you have more tax payers.
In fact, simply looking at the GDP and the average tax rate should tell us that they don't pay for themselves in most cases.
There is no debating that, ceteris paribus, tax cuts or lower taxes increase GDP and growth.
That is different than the cumulative effect and whether or not they increase or decrease the deficit.
I meant the overall rate of tax collection for GDP overall I guess. So if we usually collect 30% of the economy in taxes, then a dollar tax cut costs a dollar, but if it leads to a dollar in economic growth, it also gains 30 cents in added revenue, so it really only adds 70 cents to the deficit.
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