CBO admits Trumps tax cut more than payes for itself

[Momorider]

 will not contribute to deficit while government brings in tax revenues never seen before  

[Highmark]

  Time to get some actual bi-partisanship in the CBO.  

https://www.investors.com/politics/editorials/trump-tax-cuts-revenues-deficits-paying-for-themselves/

https://www.americanthinker.com/blog/2018/04/surprise_trumps_tax_cuts_will_more_than_pay_for_themselves.html

For months we have been hearing from experts, the media and Democrats, all of whom have been yelling from their high horse that Trump’s tax cuts would be a disaster and lead to a higher deficit because they would cost the government $1.5 trillion over ten years. Now, according to their latest projections the tax cuts will produce more growth and will actually produce $1 trillion more in revenue, not $1.5 trillion less. Therefore the CBO only missed the projection by $2.5 trillion in a few months. Does anyone think their ten-year projections are accurate?

 

Edited April 12, 2018 by Highmark

[ArcticCrusher]

Crickets.

[Angry ginger]

tax cut with spending increases was fucking dumb-  

 

Spending Is the Real Culprit

That still leaves the problem of the deficit. By 2022, federal deficits will top 5% of GDP, something that happened only once between World War II and President Obama's spending spree.

What's more, national debt is on track to top 91% of GDP by 2025 and reach 96.2% by 2028.

Despite what Democrats and the media insist, the culprit here isn't tax cuts. It is out-of-control spending, which will be nearly $1 trillion higher over the next decade thanks to recent spending deals.

Even with Trump's tax cuts in place, federal revenues climb every year as a share of GDP, going from 16.6% this year to 17.5% by 2025. (The post-World War II average for revenues is 17.2% of GDP.)

Unfortunately, spending is on track to climb even faster — going from 20.6% of GDP this year to 23.6% by 2028. (The highest spending ever got under Obama was 24.4% of GDP, and the post-War average is 19.3%.)

This is little short of a disgrace, and shows that Republicans love spending taxpayer money as much as Democrats.

[racer254]

Well

Most on here agree that spending is the biggest problem.

[Mainecat]

Someone post the CBO story unless it means Canadians Blow Orangutans

[Momorider]

3 minutes ago, Mainecat said:

Someone post the CBO story unless it means Canadians Blow Orangutans

They failed to account for growth in the evonomy in their calculations, complete fucking fraud just like you FAKENEWSMAINECUNT.  

[ICEMAN!]

1 minute ago, Momorider said:

They failed to account for growth in the evonomy in their calculations, complete fucking fraud just like you FAKENEWSMAINECUNT.  

Ah

The budget will balance itself!

Glad to see you finally on board Momo!

 

[Momorider]

3 minutes ago, ICEMAN! said:

Ah

The budget will balance itself!

Glad to see you finally on board Momo!

 

 

[Mileage Psycho]

48 minutes ago, racer254 said:

Well

Most on here agree that spending is the biggest problem.

Hey stupid, how come every tax cut in the past 30 years has increased the deficit? The rich count on cement heads like you to push there agenda  

 

 

[ArcticCrusher]

1 minute ago, Mileage Psycho said:

Hey stupid, how come every tax cut in the past 30 years has increased the deficit? The rich count on cement heads like you to push there agenda  

 

 

What happened in late 2008 that everything went to shit?

[Mainecat]

When you give away trillions of dollars during good economic times your gonna pay back twice that. 

Well you young guys will be....lol

[Highmark]

10 minutes ago, Mileage Psycho said:

Hey stupid, how come every tax cut in the past 30 years has increased the deficit? The rich count on cement heads like you to push there agenda  

 

 

Projected dept under current policies.     Really.....?   CBPP analysis based on CBO estimates.     

Got any more projected graphs to post?  

Jesus Christ guys read before you post.    

Edited April 12, 2018 by Highmark

[oleroule]

13 minutes ago, Mileage Psycho said:

Hey stupid, how come every tax cut in the past 30 years has increased the deficit? The rich count on cement heads like you to push there agenda  

 

 

i remember the wars of 2019 well.

[Mileage Psycho]

19 minutes ago, Mainecat said:

When you give away trillions of dollars during good economic times your gonna pay back twice that. 

Well you young guys will be....lol

Bingo!!!

 

[Mileage Psycho]

13 minutes ago, Highmark said:

Projected dept under current policies.     Really.....?   CBPP analysis based on CBO estimates.     

Got any more projected graphs to post?  

Jesus Christ guys read before you post.    

Let's revisit this in a couple of years, this tax cut is going to balloon debt, history tells us that. 

[Highmark]

2 minutes ago, Mileage Psycho said:

Let's revisit this in a couple of years, this tax cut is going to balloon debt, history tells us that. 

Only when its accompanied by increased spending.    History tells us that.

Show me a tax cut that had corresponding reasonable hold on spending.   You can't because there hasn't been one in a long time.

Closest thing to it when Clinton cut CG taxes dramtically and the GOP led congress wouldn't let him spend like a drunken sailor.

Bush Jr's 2nd tax cuts put revenues in record territories but spending was out of hand.  I'm not claiming the GOP wasn't at fault on that spending.

I'm beginning to think the nuclear option needs to be used on regular legislation.   This scratch my back and I'll scratch yours bullshit isn't working anymore.  

Edited April 12, 2018 by Highmark

[Mainecat]

The Dems will have to fix this once again.

republican fail again

[Ez ryder]

2 hours ago, Mileage Psycho said:

Hey stupid, how come every tax cut in the past 30 years has increased the deficit? The rich count on cement heads like you to push there agenda  

 

 

um not a real accurate chart there  

[Anler]

2 hours ago, Highmark said:

Projected dept under current policies.     Really.....?   CBPP analysis based on CBO estimates.     

Got any more projected graphs to post?  

Jesus Christ guys read before you post.    

Um the OP is projection... 

[Anler]

How did the Bush tax cuts fair for us? Should we expect different?

[Highmark]

12 minutes ago, Nazipigdog said:

How did the Bush tax cuts fair for us? Should we expect different?

Dramatically increase tax revenues.   It wasn't the problem.

[Momorider]

3 hours ago, Mileage Psycho said:

Let's revisit this in a couple of years, this tax cut is going to balloon debt, history tells us that. 

Ballsack like always

[Anler]

2 hours ago, Highmark said:

Dramatically increase tax revenues.   It wasn't the problem.

So tax cuts compounded with increased spending didn't work last time so we should try harder?

[Pete]

3 hours ago, Mainecat said:

The Dems will have to fix this once again.

republican fail again

Maybe you’ll find someone that will win then you can spend another 9 trillion just like the Kenyan did. Single handily. fuckin  roach