Skip to content
Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Washington Post)   So, as it turns out, tax cuts add to the deficit   ( washingtonpost.com) divider line
    More: Obvious  
•       •       •

2442 clicks; posted to Politics » on 14 Sep 2018 at 11:50 AM (10 days ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



73 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | » | Newest | Show all

 
2018-09-14 10:01:20 AM  
If expenditures are not cut as well and/or a new resource is not added, THEN tax cuts add to the deficit.
 
2018-09-14 10:08:10 AM  
So - more tax cuts!!!
 
2018-09-14 10:09:58 AM  
feature, not a bug. the deficit will now be used as an excuse to cut entitlements.
 
2018-09-14 10:25:09 AM  
GDP is the actual economy, not the stock market. The formula for GDP is: GDP = C + I + G + (Ex - Im)

C - consumer spending
I - business investment
G - government spending
(Ex - Im) - net exports

C & I were pitched as good reason for a tax cut, i.e., it'll be good for the economy.

Unfortunately, lesser incomed consumers (C) who would have actually spent thier cuts didn't get a big cut nor are they seeing much of an increase in paychecks, if any.

The greater incomed consumers (C) don't spend but rather invest their cuts, intent on making their paper piles of money grow larger.

Business (I)has not invested but rather has mostly bought back stocks. They also paid out better bonuses for the execs which does little for the economy (see greater incomes above)

Government (G) spending has increased as always but reducing that looms as the GOP "solution" to deficits. You know who will bear the brunt of the cuts.

So it's quite clear that all this malarkey has not helped the economy and will not help the economy. Tariffs are an open question but it's doubtful the result will be a more positive trade balance (Ex-Im).  It is a testament to the strength of the economy that's it's holding up well but the writing is on the wall here.

If you want to grow the economy, you need to do the exact opposite of what the GOP is doing.
 
2018-09-14 10:43:19 AM  
Somebody should tell the President!
 
2018-09-14 11:05:01 AM  
You libs are so impatient.  The trickling will start annnny second now.

img.fark.netView Full Size
 
2018-09-14 11:06:28 AM  
img.fark.netView Full Size


"Republicans gearing up for the mid-term elections have said making the tax cuts permanent would allow Americans to keep more money in their pockets."

Go fark yourselves, you mealymouthed sons of goats.
 
2018-09-14 11:51:37 AM  
Sure you will lose money per sale, but you'll make it up in volume!
 
2018-09-14 11:53:19 AM  
But the chart!
img.fark.netView Full Size
 
2018-09-14 11:55:02 AM  

iheartscotch: If expenditures are not cut as well and/or a new resource is not added, THEN tax cuts add to the deficit.


No. Tax cuts literally add to the deficit. Full stop.
 
2018-09-14 11:55:37 AM  

FlashHarry: feature, not a bug. the deficit will now be used as an excuse to cut entitlements.


The GOP, an alliance of people who are willing to cut entitlements to the poor get tax cuts for the rich, and people who are willing to give tax cuts to the rich, in order to cut to entitlements to the poor, because they think that will hurt brown people a bit more, than it hurts them.
 
2018-09-14 11:55:44 AM  
And how do you solve a deficit? With tariffs!
 
2018-09-14 11:57:29 AM  
The Government is a piggy bank full of endless money. They don't give a sh*t about any of us. Debt schmebt!
 
2018-09-14 11:58:02 AM  
img.fark.netView Full Size
 
2018-09-14 11:58:04 AM  
These numbers are bullshiat. The Democrats just added $1 billion to the fake projected deficit for every made-up Puerto Rican who *fingerquotes*died. Bad politics. Sad!
 
2018-09-14 11:58:38 AM  

FlashHarry: feature, not a bug. the deficit will now be used as an excuse to cut entitlements.


You've read this novel before I see.
 
2018-09-14 11:59:21 AM  

edmo: GDP is the actual economy, not the stock market. The formula for GDP is: GDP = C + I + G + (Ex - Im)

C - consumer spending
I - business investment
G - government spending
(Ex - Im) - net exports

C & I were pitched as good reason for a tax cut, i.e., it'll be good for the economy.

Unfortunately, lesser incomed consumers (C) who would have actually spent thier cuts didn't get a big cut nor are they seeing much of an increase in paychecks, if any.

The greater incomed consumers (C) don't spend but rather invest their cuts, intent on making their paper piles of money grow larger.

Business (I)has not invested but rather has mostly bought back stocks. They also paid out better bonuses for the execs which does little for the economy (see greater incomes above)

Government (G) spending has increased as always but reducing that looms as the GOP "solution" to deficits. You know who will bear the brunt of the cuts.

So it's quite clear that all this malarkey has not helped the economy and will not help the economy. Tariffs are an open question but it's doubtful the result will be a more positive trade balance (Ex-Im).  It is a testament to the strength of the economy that's it's holding up well but the writing is on the wall here.

If you want to grow the economy, you need to do the exact opposite of what the GOP is doing.


But the stock market is up.
 
2018-09-14 11:59:29 AM  
What also adds to the deficit is starting stupid trade wars for no reason, and then trying to paper over their effects on your voters with government aid.
 
2018-09-14 12:00:30 PM  
Debt, not deficit.  Adding 3.9 trillion to the debt is bad.  Adding 3.9 trillion to the deficit would be catastrophic.  Debt is cumulative, deficit is not.
 
2018-09-14 12:00:43 PM  

busy chillin': The Government is a piggy bank full of endless money. They don't give a sh*t about any of us. Debt schmebt!


Woodward did say that Trump said to "print more money". So...

/my god is he dumb
 
2018-09-14 12:00:47 PM  
When do they hoist the Jolly Roger over the White House?
 
2018-09-14 12:01:42 PM  

winedrinkingman: FlashHarry: feature, not a bug. the deficit will now be used as an excuse to cut entitlements.

The GOP, an alliance of people who are willing to cut entitlements to the poor get tax cuts for the rich, and people who are willing to give tax cuts to the rich, in order to cut to entitlements to the poor, because they think that will hurt brown people a bit more, than it hurts them.

You start out in 1954 by saying, "n-w*rd, n-w*rd, n-w*rd." By 1968 you can't say "n-w*rd"-that hurts you, backfires. So you say stuff like, uh, forced busing, states' rights, and all that stuff, and you're getting so abstract. Now, you're talking about cutting taxes, and all these things you're talking about are totally economic things and a byproduct of them is, blacks get hurt worse than whites.... "We want to cut this," is much more abstract than even the busing thing, uh, and a hell of a lot more abstract than "n-w*rd, n-w*rd."

-Lee Atwater, Republican Strategist

 
2018-09-14 12:01:53 PM  
You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.
 
2018-09-14 12:03:23 PM  

edmo: GDP is the actual economy, not the stock market. The formula for GDP is: GDP = C + I + G + (Ex - Im)

C - consumer spending
I - business investment
G - government spending
(Ex - Im) - net exports

C & I were pitched as good reason for a tax cut, i.e., it'll be good for the economy.

Unfortunately, lesser incomed consumers (C) who would have actually spent thier cuts didn't get a big cut nor are they seeing much of an increase in paychecks, if any.

The greater incomed consumers (C) don't spend but rather invest their cuts, intent on making their paper piles of money grow larger.

Business (I)has not invested but rather has mostly bought back stocks. They also paid out better bonuses for the execs which does little for the economy (see greater incomes above)

Government (G) spending has increased as always but reducing that looms as the GOP "solution" to deficits. You know who will bear the brunt of the cuts.

So it's quite clear that all this malarkey has not helped the economy and will not help the economy. Tariffs are an open question but it's doubtful the result will be a more positive trade balance (Ex-Im).  It is a testament to the strength of the economy that's it's holding up well but the writing is on the wall here.

If you want to grow the economy, you need to do the exact opposite of what the GOP is doing.


This.  A thousand times this.

/ A lot of us understand the assumptions of our economic models.  I have yet to meet a conservative or libertarian that really understood the assumptions of theirs.
// But I'm sore from dealing with the puerile verbal meanderings of a tax-hating libertarian coworker for the last few days.
/// "Gold standard is obviously better than fiat currency!  There's something backing it!"
 
2018-09-14 12:03:23 PM  
It's only adding to the deficit because we didn't cut the taxes hard enough.

If we can ever get down to negative tax rates, like if people instead of paying the taxes to the government and having the government pay it out, instead paid that money directly to corporations, we'd be living in a paradise.

Then we can streamline the process even further where instead of paying the money directly to corporations, everyone just works for free.

Utopia.
 
2018-09-14 12:04:41 PM  
The deuce you say!
 
2018-09-14 12:05:42 PM  

FlashHarry: feature, not a bug. the deficit will now be used as an excuse to cut entitlements.


In the boobies, even
 
2018-09-14 12:07:05 PM  

Parthenogenetic: These numbers are bullshiat. The Democrats just added $1 billion to the fake projected deficit for every made-up Puerto Rican who *fingerquotes*died. Bad politics. Sad!


When a dollar gets old and dies they just add it to the pile.
 
2018-09-14 12:07:54 PM  

FlashHarry: feature, not a bug. the deficit will now be used as an excuse to cut entitlements.


This x 1000.

No, this x 760.  I don't want to spend my this resources recklessly.
 
2018-09-14 12:10:53 PM  
So? Run the presses! Print more money!
 
2018-09-14 12:11:34 PM  
img.fark.netView Full Size



stevencuric.co.ukView Full Size
 
2018-09-14 12:11:40 PM  

ImpendingCynic: You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.


Except when they do that they'll sell it by saying we'll get another tax cut. They'll never stop bleeding us.
 
2018-09-14 12:12:42 PM  
Now you libs know that such an issue just means that the taxes are too high for job creators and we need to cut them now.

So how about that completely nonsensical tax cut for the very wealthy by adjusting capita gains for inflation? Sure there is absolutely no economic justification for it and anyone that has significant capital assets other than a primary home not in a IRA or 401k are already extremely wealthy, but you could benefit from it some day in the future if you win the lottery?
 
2018-09-14 12:12:57 PM  

edmo: If you want to grow the economy, you need to do the exact opposite of what the GOP is doing.


But if you wanted to drain the money out of the American economy, into the pockets of a handful of billionaire parasites who'd sell their own family as livestock if they thought it would raise their bottom line, this is exactly what you'd do.
 
2018-09-14 12:14:16 PM  

odinsposse: ImpendingCynic: You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.

Except when they do that they'll sell it by saying we'll get another tax cut. They'll never stop bleeding us.


Which will be offset by stopping paying for SNAP and housing. And the tax cuts with that will go along with cuts to transportation and education. And the tax cuts with that....
 
2018-09-14 12:16:05 PM  
Once you pass a tax cut for individuals, that makes it really hard to spend money in investing in a business, so will you need to pass another tax cut to lower the business rates to spur business investment instead of personal investment.
 
2018-09-14 12:17:56 PM  

Mouren: But the chart!
[img.fark.net image 350x300]


Oh, yeah; the Laugher curve!
 
2018-09-14 12:19:02 PM  

JDAT: FlashHarry: feature, not a bug. the deficit will now be used as an excuse to cut entitlements.

You've read this novel before I see.


Liftbro said as much, soon after passage.
 
2018-09-14 12:31:26 PM  
img.fark.netView Full Size
 
2018-09-14 12:34:50 PM  
img.fark.netView Full Size
 
2018-09-14 12:36:16 PM  
Trillion.  With a T.

A trillion seconds is 32,000 years.
 
2018-09-14 12:45:30 PM  

dywed88: odinsposse: ImpendingCynic: You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.

Except when they do that they'll sell it by saying we'll get another tax cut. They'll never stop bleeding us.

Which will be offset by stopping paying for SNAP and housing. And the tax cuts with that will go along with cuts to transportation and education. And the tax cuts with that....


Killing SNAP is an incredibly stupid idea, even looked at in the coldest analytical light.  Money the government puts out there in SNAP benefits immediately goes back into the economy, and thus promotes jobs at grocery stores, food manufacturing and distributing companies, even in agriculture.

But, hey, Fox News showed me some poors buying a lobster so get rid of SNAP because MAGA
 
2018-09-14 12:55:51 PM  

jake_lex: dywed88: odinsposse: ImpendingCynic: You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.

Except when they do that they'll sell it by saying we'll get another tax cut. They'll never stop bleeding us.

Which will be offset by stopping paying for SNAP and housing. And the tax cuts with that will go along with cuts to transportation and education. And the tax cuts with that....

Killing SNAP is an incredibly stupid idea, even looked at in the coldest analytical light.  Money the government puts out there in SNAP benefits immediately goes back into the economy, and thus promotes jobs at grocery stores, food manufacturing and distributing companies, even in agriculture.

But, hey, Fox News showed me some poors buying a lobster so get rid of SNAP because MAGA


The point is to further trap poor people in shiatty jobs. Sure, the boss might treat you like shiat, and the working environment is a death trap, but if you quit, you starve to death.
 
2018-09-14 01:00:54 PM  
I learned everything I know about resource management and budgeting from Warcraft II.

This apparently makes me massively more qualified to write tax code then literally almost every republican on the planet.

/ zug zug
 
2018-09-14 01:00:55 PM  

snowshovel: Once you pass a tax cut for individuals, that makes it really hard to spend money in investing in a business, so will you need to pass another tax cut to lower the business rates to spur business investment instead of personal investment.


Low tax rates is when you divest.
 
2018-09-14 01:04:05 PM  

sdd2000: [img.fark.net image 850x850]


[stevencuric.co.uk image 832x265]


Condemned to repeat history, eh?
over
img.fark.netView Full Size

and over
img.fark.netView Full Size

and over
img.fark.netView Full Size
 
2018-09-14 01:05:14 PM  

jake_lex: dywed88: odinsposse: ImpendingCynic: You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.

Except when they do that they'll sell it by saying we'll get another tax cut. They'll never stop bleeding us.

Which will be offset by stopping paying for SNAP and housing. And the tax cuts with that will go along with cuts to transportation and education. And the tax cuts with that....

Killing SNAP is an incredibly stupid idea, even looked at in the coldest analytical light.  Money the government puts out there in SNAP benefits immediately goes back into the economy, and thus promotes jobs at grocery stores, food manufacturing and distributing companies, even in agriculture.

But, hey, Fox News showed me some poors buying a lobster so get rid of SNAP because MAGA


Look they even support lobster fishermen!
 
2018-09-14 01:08:24 PM  
The only thing that can solve this is more tax cuts.
 
2018-09-14 01:11:05 PM  
jake_lex: dywed88: odinsposse: ImpendingCynic: You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.

Except when they do that they'll sell it by saying we'll get another tax cut. They'll never stop bleeding us.

Which will be offset by stopping paying for SNAP and housing. And the tax cuts with that will go along with cuts to transportation and education. And the tax cuts with that....

Killing SNAP is an incredibly stupid idea, even looked at in the coldest analytical light.  Money the government puts out there in SNAP benefits immediately goes back into the economy, and thus promotes jobs at grocery stores, food manufacturing and distributing companies, even in agriculture.

But, hey, Fox News showed me some poors buying a lobster so get rid of SNAP because MAGA


And that matters to the GOP, why?

They have been actively trying to kill SNAP for many years, the only thing stopping hem is it being tied to agribusiness subsidies.
 
2018-09-14 01:11:33 PM  
jake_lex: dywed88: odinsposse: ImpendingCynic: You're overlooking the part of their plan where they all but eliminate Social Security and Medicare to balance it out.

Except when they do that they'll sell it by saying we'll get another tax cut. They'll never stop bleeding us.

Which will be offset by stopping paying for SNAP and housing. And the tax cuts with that will go along with cuts to transportation and education. And the tax cuts with that....

Killing SNAP is an incredibly stupid idea, even looked at in the coldest analytical light.  Money the government puts out there in SNAP benefits immediately goes back into the economy, and thus promotes jobs at grocery stores, food manufacturing and distributing companies, even in agriculture.

But, hey, Fox News showed me some poors buying a lobster so get rid of SNAP because MAGA


And that matters to the GOP, why?

They have been actively trying to kill SNAP for many years, the only thing stopping them is it being tied to agribusiness subsidies.
 
Displayed 50 of 73 comments


Oldest | « | 1 | 2 | » | Newest | Show all


View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking

On Twitter





Top Commented
Javascript is required to view headlines in widget.
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report