Trump's Tax Plan Will be BIGGER than Reagan's but . . .

Reagan exploded the debt and deficit. He signed 11 tax hikes including the largest tax increase in American History to offset the tax revenue losses (shifting more of the burden to the middle class and poor). And now Trump promises to outdo him...

“First, revenue didn't double during Reagan's eight years. It increased by 65 percent, from $600 billion in 1981 to $990 billion in 1989 in nominal terms.

Second, Reagan's 1981 tax cut didn't increase tax revenue, explains Bruce Bartlett, a former economist and domestic policy adviser under Reagan. Inflation grew revenue, and population growth grew revenue, and economic expansion grew revenue, and tax increases grew revenue ("Ronald Reagan raised taxes 11 times, increasing revenues by $133 billion per year as of 1988 - about a third of the nominal revenue increase during Reagan's presidency").”
https://www.theatlantic.com/busines...r-reagan-and-they-wont-under-pawlenty/240616/

Can you Right Wingers see how you are being tooled by a conman and a party without conscience? Of course you can't. That's why you are obedient right wing slaves. You'll believe anything you're told. Tax cuts have never ever paid for themselves.

Remember: Cutting the tax revenue rate reduces tax revenue. "No" cries the deluded right winger, "business turns those tax savings into economic growth." Which is technically true in a very narrow sense, revenue is generated....but the growth never ever outstrips the loss of revenue had the rates not been reduced at all. Simple, honest, math my friends.

In the words of Milton Friedman (that Monetary Fascist), "There are no free lunches." ...except for tax cuts, right boys? hahahaha

This is IT!

TS what is a right winger? In your opinion?

DynamicLoosener said:

This is IT!

TS what is a right winger? In your opinion?

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A braindead trump follower for starters. Kinda like you

DickSarp said:

“First, revenue didn't double during Reagan's eight years. It increased by 65 percent, from $600 billion in 1981 to $990 billion in 1989 in nominal terms.

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So, the article admits that lowering income tax rates increased the federal income to 65%.

Go ahead liberals, explain why that's a negative.

Let's not jump to conclusions. Do we even know what the tax plan is yet?

ripskater said:

Let's not jump to conclusions. Do we even know what the tax plan is yet?

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Lets be real here @ripskater... You will never fully understand the tax plan

zebby23 said:

A braindead trump follower for starters. Kinda like you

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this is why nobody will listen to you. you just sound salty

zebby23 said:

Lets be real here @ripskater... You will never fully understand the tax plan

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Then you should explain it and show us how you know the details of this tax plan.

DynamicLoosener said:

this is why nobody will listen to you. you just sound salty

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Every word in your post sounds like a 6th grader wrote it. Congratulations

so more corporate tax breaks, more breaks for the wealthy, higher rates for middles and low end classes. i dont need to know it to already figure it out

GearSolidMetal said:

So, the article admits that lowering income tax rates increased the federal income to 65%.

Go ahead liberals, explain why that's a negative.

Click to expand...

DickSarp said:

Second, Reagan's 1981 tax cut didn't increase tax revenue, explains Bruce Bartlett, a former economist and domestic policy adviser under Reagan. Inflation grew revenue, and population growth grew revenue, and economic expansion grew revenue, and tax increases grew revenue ("Ronald Reagan raised taxes 11 times, increasing revenues by $133 billion per year as of 1988 - about a third of the nominal revenue increase during Reagan's presidency").”
https://www.theatlantic.com/busines...r-reagan-and-they-wont-under-pawlenty/240616/

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The attempts of the MSM to get the American population to forget what it was like in the most prosperous years of the American ecomony, is sickening.

Yet they have endless praise for the Obama years, which was the longest recession in history. That's the new baseline normal, including the inflation and doubling of the national debt.

Somehow, that's fine under Obama, but looking into a crystal ball and predicting the future of it happening under a Republican President.... oh no... that can't happen.

Just another example of the MSM narriative that everything is fine under Democrat Presidents, and horrible under Republicans.

his hands still won't be.

zebby23 said:

Every word in your post sounds like a 6th grader wrote it. Congratulations

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maybe i am a 6th grader.

ripskater said:

Then you should explain it and show us how you know the details of this tax plan.

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There are certainly important details missing but his cut to corporate tax rates and the fact that he wants to reduce the top brackets will almost certainly add to the deficit. You're right about there not being enough details to really grasp it though, and the outline will almost certainly change.

And take it for what it's worth since Trump lies all the time is that he is proclaiming it to be the biggest tax cut in history. If he's telling the truth for once it's going to explode the deficit.

GearSolidMetal said:

Yet they have endless praise for the Obama years, which was the longest recession in history. That's the new baseline normal, including the inflation and doubling of the national debt.

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Lmfao, what?

Obama was overseeing the recovery, the recession ended shortly after his term began.

That's just wrong as hell.

GearSolidMetal said:

The attempts of the MSM to get the American population to forget what it was like in the most prosperous years of the American ecomony, is sickening.

Yet they have endless praise for the Obama years, which was the longest recession in history. That's the new baseline normal, including the inflation and doubling of the national debt.

Somehow, that's fine under Obama, but looking into a crystal ball and predicting the future of it happening under a Republican President.... oh no... that can't happen.

Just another example of the MSM narriative that everything is fine under Democrat Presidents, and horrible under Republicans.

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The attempt by you to claim huge tax cuts helped the economy while completely ignoring the parts refuting that narrative is, how did you put it, sickening.

Falsedawn said:

Lmfao, what?

Obama was overseeing the recovery, the recession ended shortly after his term began.

That's just wrong as hell.

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you keep forgetting that to a right wing nutjob, Obama's magical time machine allows him to be at fault for things he wasnt even in a position of power to effect. Like how it was Obama's policy of invading Iraq and destabilizing the region that led to Obamas creation of ISIS. If Obama hadnt created the power vacuum in the mid-east, in 2003, he wouldnt have had to deal with all its BS in 2014!

Falsedawn said:

Lmfao, what?

Obama was overseeing the recovery, the recession ended shortly after his term began.

That's just wrong as hell.

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...according to Obama.

Trump is giving himself a billion dollar tax cut. 30% of the middle class will see their taxes rise. Rest will see a small cut that they won't even really realize a difference.