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OILERMAN

A devastating analysis of the tax cut shows it’s done virtually no economic good

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begooode   
2 hours ago, OILERMAN said:

 

What the hell is wrong with you?  Limbaugh said deficit talk is all hooey and always has been!!

*pours a little out in memorial of another foundational element of the GOP*

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12 minutes ago, begooode said:

What the hell is wrong with you?  Limbaugh said deficit talk is all hooey and always has been!!

*pours a little out in memorial of another foundational element of the GOP*

Limbaugh is pretty much correct that the politicians are not that concerned (in either party) with the deficit.  Power is much more important to them.   The GOP deserves more criticism though for campaigning one way, and voting another.   We will some day pay a heavy price.

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You know how Clinton balanced the budget? By having his budget people realistically forecast expenditure and even padding it on the high side; and by having them very conservatively project revenues and GDP growth. Nobody else has done it since; and GWB destroyed the excellent fiscal gift that was handed him by insisting on a tax cut while fighting a two front war. Trumps projections and budgeting are being done with ridiculous growth assumptions; that's why he's constantly railing on the Fed during a relatively booming economy so that he has a scapegoat for his deficits.

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Rogue   
1 hour ago, No1TitansFan said:

You know how Clinton balanced the budget? By having his budget people realistically forecast expenditure and even padding it on the high side; and by having them very conservatively project revenues and GDP growth. Nobody else has done it since; and GWB destroyed the excellent fiscal gift that was handed him by insisting on a tax cut while fighting a two front war. Trumps projections and budgeting are being done with ridiculous growth assumptions; that's why he's constantly railing on the Fed during a relatively booming economy so that he has a scapegoat for his deficits.

Trump is always a victim of everything.  Much like his base 

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ctm   
On 7/19/2019 at 11:05 PM, No1TitansFan said:

You know how Clinton balanced the budget? By having his budget people realistically forecast expenditure and even padding it on the high side; and by having them very conservatively project revenues and GDP growth. Nobody else has done it since; and GWB destroyed the excellent fiscal gift that was handed him by insisting on a tax cut while fighting a two front war. Trumps projections and budgeting are being done with ridiculous growth assumptions; that's why he's constantly railing on the Fed during a relatively booming economy so that he has a scapegoat for his deficits.

Trump promised during the campaign to pay off the entire federal deficit in 8 years.  Not eliminate the annual deficit, pay off all the accumulated deficit.

Edited by ctm

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OILERMAN   
15 minutes ago, ctm said:

Trump promised during the campaign to pay off the entire federal deficit in 8 years.  Not eliminate the annual deficit, pay off all the accumulated deficit.

All you can do is laugh at the suckers 

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http://nymag.com/intelligencer/2019/07/gdp-report-trump-tax-cuts-scam-business-investment.html

 

In May, the Congressional Research Service (CRS) found no sign that the Trump tax cuts made any discernible contribution to growth, wages, or business investment. Corporations did not plow their windfalls into exceptionally productive and innovative ventures. Instead, they mostly threw their handouts onto the giant pile of cash they were already sitting on, and/or returned it to their (predominantly rich) shareholders.

 

Now, it appears that the CRS analysis may have actually been a bit too kind to Trump’s signature legislation. The federal government’s latest report on economic growth suggests that business investment has been even weaker than previously thought. Initially, the Bureau of Economic Analysis (BEA) estimated that America’s gross domestic product expanded by 3 percent in 2018 (on a fourth-quarter-over-fourth-quarter basis). This week, the BEA revised that figure down to 2.5 percent — due, in part, to decelerating growth in business investment.

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15 minutes ago, Starkiller said:

http://nymag.com/intelligencer/2019/07/gdp-report-trump-tax-cuts-scam-business-investment.html

 

In May, the Congressional Research Service (CRS) found no sign that the Trump tax cuts made any discernible contribution to growth, wages, or business investment. Corporations did not plow their windfalls into exceptionally productive and innovative ventures. Instead, they mostly threw their handouts onto the giant pile of cash they were already sitting on, and/or returned it to their (predominantly rich) shareholders.

 

Now, it appears that the CRS analysis may have actually been a bit too kind to Trump’s signature legislation. The federal government’s latest report on economic growth suggests that business investment has been even weaker than previously thought. Initially, the Bureau of Economic Analysis (BEA) estimated that America’s gross domestic product expanded by 3 percent in 2018 (on a fourth-quarter-over-fourth-quarter basis). This week, the BEA revised that figure down to 2.5 percent — due, in part, to decelerating growth in business investment.

I'm not doing any worse. Sorry for your luck?

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