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Re: The Biggest Federal Deficit In 6 Years

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Message 21 of 32

KidBoy2:  U.S. Government Deficit Grew 17% in Fiscal 2018 ... a lot of that is for interest paid on our debt that doubled under Obama.

It takes time for the tax collections to show.

 

 

Maybe Methuselah would see higher collections, but us mere mortals won't.:)

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Re: The Biggest Federal Deficit In 6 Years

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Panjandrum posted...

Then explain this..............if you can.

U.S. Government Deficit Grew 17% in Fiscal 2018 Tax cuts have restrained revenue gains

https://www.wsj.com/articles/u-s-government-debt-rises-17-in-fiscal-2018-1539626598

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Thanks for asking..Your link does not work unless you pay to get it.

U.S. Government Deficit Grew 17% in Fiscal 2018 ... a lot of that is for interest paid on our debt that doubled under Obama.

It takes time for the tax collections to show.

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Re: The Biggest Federal Deficit In 6 Years

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Message 23 of 32

@Panjandrum wrote:

KidBoy2:  
Higher employment means higher tax collections...lower unemployment...a win win. 

 

Then explain this..............if you can.

 

U.S. Government Deficit Grew 17% in Fiscal 2018 Tax cuts have restrained revenue gains

https://www.wsj.com/articles/u-s-government-debt-rises-17-in-fiscal-2018-1539626598


Explain this and Obama had no tax decreases:

https://www.usgovernmentdebt.us/federal_deficit

 

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Re: The Biggest Federal Deficit In 6 Years

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Message 24 of 32

KidBoy2:  
Higher employment means higher tax collections...lower unemployment...a win win. 

 

Then explain this..............if you can.

 

U.S. Government Deficit Grew 17% in Fiscal 2018 Tax cuts have restrained revenue gains

https://www.wsj.com/articles/u-s-government-debt-rises-17-in-fiscal-2018-1539626598

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Re: The Biggest Federal Deficit In 6 Years

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Olderscout66:  93% of the income growth since 2016 went to the top 1%. Only 54% of American households own ANY stocks, and the top 1% owns 34% and the top 20% owns 90%.

 

 

True, but unfortunately citing facts to the Trump Cult is like spitting into the wind. They are like teflon where facts and reason are concerned.

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Re: The Biggest Federal Deficit In 6 Years

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Message 26 of 32
easy posted..

Record income just reported by the federal government for 2018. Guess the low unemployment is now paying dividends for Trump administration.Will be even better when capital gains are reported due to recent sell-off in stock market..

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Higher employment means higher tax collections...lower unemployment...a win win.
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Re: The Biggest Federal Deficit In 6 Years

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Message 27 of 32

Trumpees just don't 'get it'. In the first place, they confuse deficit and debt. One mentioned capital gains, the income to the government from it, failing to understand that the vast majority of capital gains benefited the rich. Capital gains comes from when stocks are sold, most every day Americans' stocks are in 401K plans for retirement. 


"The only thing that man learns from history is that man learns nothing from history."
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Re: The Biggest Federal Deficit In 6 Years

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Ah yes. The administration where liberals continuously get the opportunity to say "I told you so". 

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Re: The Biggest Federal Deficit In 6 Years

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Message 29 of 32

Republicans have used tax scams, needless wars and deregulation to conduct the greatest redistribution of income and wealth in human history.

 

Reagan's monumental taxscam INCREASED the tax burden for the middle class by 45% - before the scam the middle quintile paid 9.4% of their income in federal income tax and after the scam it was 13.6%. At the other end of the spectrum, a pre-Reagan AIG of $1,000,000 paid an effective rate of 66.7% and post Reagan that same income paid 27.6%. a REDUCTION of 58.7%.

 

Those tax scams NEVER "pay for themselves" but rather they become a never ending payment - the service on the debt increase caused by the reduction in Federal revenue. Since the debt is never REDUCED, the payments increase each year, diverting money from programs that help all Americans like funding grants for tuition and maintenance of our infrastructure. Reagan increased the National Debt by $1.936Trillion which is still costing us $114Billion EACH YEAR. jrbush jacked the Debt by $6.103Trillion giving us a never-ending cost of $281Billion for a total of $395Billion from just 2 Republican administrations. The total service on the Dept is $523Billion, 75.5% of which came from TWO GOPer taxscams.

 

ATTENTION TRUMPETTES! You are not "going backwards" in your standard of living because somebody "cut in line" ahead of you. You're going backwards because that is what Republican policies are designed to do.

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Re: The Biggest Federal Deficit In 6 Years

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Message 30 of 32

@easyed598 wrote:

Record income just reported by the federal government for 2018. Guess the low unemployment is now paying dividends for Trump administration.Will be even better when capital gains are reported due to recent sell-off in stock market.. 


93% of the income growth since 2016 went to the top 1%. Only 54% of American households own ANY stocks, and the top 1% owns 34% and the top 20% owns 90%. Looks like Der Trumper is on target with the Republican plot to redistribute income from the middle to the very top.

 

Also home prices are rising twice as fast as average income, so if you (or your kids) don't already own a home, you probably never will. Just another wealth redistribution program brought to you by the GOP (Greedy Old People).

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