Study confirms corporate profits going to executives and shareholders, not workers

[IndySteel]

You’re completely clueless. Our deficit and debt has very little to do with the catch phrase “waste” and everything to do with Social Security, Medicare, defense spending, and interest.

So it was just those things that caused the debt to DOUBLE during Obama's term? Then you libtards should have no problem with us spending a measly $10 billion on a wall to secure our border.

 

[DBS1970]

You’re completely clueless. Our deficit and debt has very little to do with the catch phrase “waste” and everything to do with Social Security, Medicare, defense spending, and interest.

You mean spending too much to buy votes. Well after the collapse we get a hard reset so...

 

[Sarge]

You’re completely clueless. Our deficit and debt has very little to do with the catch phrase “waste” and everything to do with Social Security, Medicare, defense spending, and interest.

I actually agree here. Waste only amounts to a couple hundred million dollars of what we spend. That said, we spend trillions. And when we continue to borrow, we will never catch up with that interest, much less actually reduce the national debt.

 

[Tibs]

Breaking: Federal deficit jumps 20 percent after tax cuts, spending bill
http://thehill.com/policy/finance/4...jumps-20-percent-after-tax-cuts-spending-bill

The federal deficit jumped 20 percent in the first 10 months of the 2018 fiscal year, the Congressional Budget Office (CBO) reported Wednesday.

Spending outpaced revenue between the beginning of the fiscal year, on Oct. 1, and July by $682 billion, $116 billion more than over the same period in the last fiscal year.

The rising deficit is largely the result of the tax cuts President Trump signed into law at the end of last year, as well as a bipartisan agreement to boost spending, according to CBO.

Tax revenues from individuals rose, even as revenues from corporate taxes dropped.

The Trump administration has argued that the tax cuts would bring down the deficit, as economic growth led to higher tax revenue. The economy did expand in the second quarter by 4.1 percent.

But economists have argued the growth would have to be much larger to reduce the deficit.

The CBO projects that the deficit will reach $793 billion by the end of the year and approach $1 trillion next year. White House estimates have the deficit surpassing $1 trillion in 2019.

Budget watchers have warned that interest payments — the amount the Treasury has to pay just to service the debt — are slated to become the fastest-growing annual expenditure.

The CBO projects that in 30 years, the government will spend more on servicing debt than on Social Security or defense.

 

[oneforthebus]

Tibs, any idea how much the deficit increased in Obama's first couple of years in office? But hey, we did get that 1.6% GDP growth out of it.

https://www.washingtontimes.com/news/2018/feb/18/barack-obamas-real-debt-and-deficit-legacy/

So where does this fantasy come from that Mr. Obama lowered the deficit by 60 percent? Here are the offical deficit numbers in George W. Bush’s last year in office, and Obama’s eight years in office:

Deficits in Billions of Dollars:

2008 $459 (George W. Bush’s last year in office)

2009 $1,413 (Barack Obama’s first year in office)

2010 $1,294

2011 $1,300

2012 $1,087

2013 $680

2014 $485

2015 $438

2016 $585

Now, here is some simple math for the Obama worshipers: $585 billion at the end of the Obama presidency is higher than $459 billion at the beginning of the Obama presidency.

So how did Mr. Obama lower the deficit by more than 60 percent? Here is the answer. The left starts counting Mr. Obama’s deficit meter in 2010, after he passed the $800 billion debt bomb fiscal stimulus bill.

So they assigned the gargantuan deficit in Mr. Obama’s first year to Mr. Bush. It is true that we were four months into fiscal year 2009 when Mr. Obama was sworn into office. And it is true that the deficit was going to be much higher no matter what Mr. Obama did in his first year because of the deep recession that ended in June 2009. So in fairness some of the bad number in 2009 was Bush’s fault.

But Mr. Obama made the deficit hundreds of billions of dollars worse with a stimulus plan that by the administration’s own admission didn’t create a single new job. (The number of jobs in 2009, 2010, and 2011 was lower than Mr. Obama’s economists predicted we would get if we had done nothing and not wasted $800 billion.

Mr. Obama’s failed presidency is being falsely lionized in other ways as well. The new spin from the left is that Mr. Obama saved the U.S. from a second great depression, when in fact he gave America the weakest recovery from a recession since the Great Depression. He also left Mr. Trump with an economy that was crawling at 1.6 percent— which is why many people thought we were headed to another recession.

No one thinks that today. If the latest Federal Reserve Bank of Atlanta projections are right, we will have growth of 3.2 percent in the first quarter of this year — which means that the economy has now been growing at above 3 percent during Mr. Trump’s first year in office. That is twice the growth rate Mr. Trump inherited, and that number, ladies and gentlemen, is not fantasy, it is fact.

 

[MT~Forged]

The President is NOT a conservative in ant way shape or form, he is a populist. By definition he will do what is popular. The people wanted tax reductions, he gave them to the people. Problem is he made a deal with Congress to get the tax cuts. What is popular with Congress is SPEND EVEN MORE MONEY.

 

[Troglodyte]

The President is NOT a conservative in ant way shape or form, he is a populist. By definition he will do what is popular. The people wanted tax reductions, he gave them to the people. Problem is he made a deal with Congress to get the tax cuts. What is popular with Congress is SPEND EVEN MORE MONEY.

Spending money is also popular with the voters. Very few want cuts to Social Security and Medicare, and only about half are open to defense spending cuts.

The US is full of people who are irresponsible with their personal finances, why should we think they’d concern themselves with government finances?

 

[Spike]

Relax everyone, the socialists are coming to save us all



Alexandria Ocasio Cortez: "Medicare For All Is Cheaper Because It Reduces Funeral Costs"

https://townhall.com/tipsheet/mattv...s-cheaper-because-it-reduces-funeral-n2508254

 

[Ron Burgundy]

So they assigned the gargantuan deficit in Mr. Obama’s first year to Mr. Bush. It is true that we were four months into fiscal year 2009 when Mr. Obama was sworn into office. And it is true that the deficit was going to be much higher no matter what Mr. Obama did in his first year because of the deep recession that ended in June 2009. So in fairness some of the bad number in 2009 was Bush’s fault.

It is also demonstrably true that a slow economy results in deficits because tax receipts go down since people overall are making less money.

 

[deljzc]

And historically, tax cuts always effect deficits short-term and then as the economy expands, tax revenues increase 2-3 years down the line. There is a delay between tax cuts and when the tax revenues start to go up because the economy is better.

But I agree that most here did not like the Congressional Omnibus Spending package in March/April and it had too much fat/pork in it spread around to congressman for their votes. It really did need to be cut by about $100-$200 billion and ideally keep the deficit about $500 billion short-term during the economic expansion (that would have been best).

 

[madinsomniac]

The reason I have a hard time taking any Democratic anti tax cut seriously is threefold...
A.) i dont think the numbers support their side
B.) all of the smartest Democrats I know are still fiscally conservative
C.) every Democratic governor and mayor hands out huge corporate tax breaks to lure business in and claims that stimulates the city or state economy so its a net gain... even when its paying virtually nil in taxes for a decade and leaves when the break is over.... that’s directly counter to theirnational arguements

 

[CharlesDavenport]

The current crop of Republicans in Congress have no idea how to be fiscally conservative. They can barely even talk the talk.

 

[Steeltime]

Relax everyone, the socialists are coming to save us all



Alexandria Ocasio Cortez: "Medicare For All Is Cheaper Because It Reduces Funeral Costs"

https://townhall.com/tipsheet/mattv...s-cheaper-because-it-reduces-funeral-n2508254

To answer your question, yes, she really is that stupid.

 

[tapeANaspirin2it]

And historically, tax cuts always effect deficits short-term and then as the economy expands, tax revenues increase 2-3 years down the line. There is a delay between tax cuts and when the tax revenues start to go up because the economy is better.

But I agree that most here did not like the Congressional Omnibus Spending package in March/April and it had too much fat/pork in it spread around to congressman for their votes. It really did need to be cut by about $100-$200 billion and ideally keep the deficit about $500 billion short-term during the economic expansion (that would have been best).

I forget, was that Trump’s budget, or was that the budget from the Dems that weak Republicans in congress failed to stop?

It’s funny to me to hear Dems talk about fiscal responsibility when every budget they put forth is stuffed with pork.

I wish Trump hadn’t signed it but i think he only did so because he saw a win with the defense spending and he didn’t want a long budget battle derailing his economic plans.

 

[tapeANaspirin2it]

The reason I have a hard time taking any Democratic anti tax cut seriously is threefold...
A.) i dont think the numbers support their side
B.) all of the smartest Democrats I know are still fiscally conservative
C.) every Democratic governor and mayor hands out huge corporate tax breaks to lure business in and claims that stimulates the city or state economy so its a net gain... even when its paying virtually nil in taxes for a decade and leaves when the break is over.... that’s directly counter to theirnational arguements

I often see the commercials for the state of New York touting how business friendly they are now with low tax rates for businesses. That’s all the proof you need that these elitist liberals know that tax cuts work.

 

[madinsomniac]

I often see the commercials for the state of New York touting how business friendly they are now with low tax rates for businesses. That’s all the proof you need that these elitist liberals know that tax cuts work.

New york is routinely ranked in the bottom 2 or 3 states to do business in due to their extremely high tax structure and unfriendly corporate laws... their tax debt per capita is secong only to new jersey and corporations are fleeing those area like rats from a sinking ship now that the internet has made locational proximity mostly irrelevant.... maybe they learned a lesson... but ill believe that when i see the next rankings

 

[deljzc]

I forget, was that Trump’s budget, or was that the budget from the Dems that weak Republicans in congress failed to stop?

It’s funny to me to hear Dems talk about fiscal responsibility when every budget they put forth is stuffed with pork.

I wish Trump hadn’t signed it but i think he only did so because he saw a win with the defense spending and he didn’t want a long budget battle derailing his economic plans.

I think Trump thought he had a win lined up on DACA/Immigration as well until the judicial branch got involved. It's really too bad, DACA didn't/doesn't have a hard deadline because of the courts because Congress now has no reason to do anything to really fix the problem. The four things Trump wants in a good immigration law are all pretty straight forward things that many American's agree with. It's certainly not the kind of "sky is falling" law that some are making it out to be.

 

[Elfiero]

To answer your question, yes, she really is that stupid.

You still have a ways to go in the field of stupid to top CONservative lemmings though.......

 

[Steeltime]

You still have a ways to go in the field of stupid to top CONservative lemmings though.......

Can't go wrong with George Carlin:

"Most people work just hard enough not to get fired and get paid just enough money not to quit."

"Some people see things that are and ask, Why? Some people dream of things that never were and ask, Why not? Some people have to go to work and don't have time for all that."

"I was thinking about how people seem to read the Bible a whole lot more as they get older; then it dawned on me - they're cramming for their final exam."

And a little P.J. O'Rourke:

"Giving money and power to government is like giving whiskey and car keys to teenage boys."

"Any terrorism is an attack on libertarian values."

"The Democrats are the party that says government will make you smarter, taller, richer, and remove the crabgrass on your lawn. The Republicans are the party that says government doesn't work and then they get elected and prove it."

"Liberals have invented whole college majors - psychology, sociology and women's studies - to prove that nothing is anybody's fault."

"People think the free market is a philosophy, they think that it is a creed. It is none of those things. Free market is a bathroom scale, it is a measuring tape, it's simply a measurement."

"There's something about Marxism that brings out warts; the only kind of growth that economic system encourages."

"The idea of a news broadcast once was to find someone with information and broadcast it. The idea now is to find someone with ignorance and spread it around."

"Bill Clinton is not a hypocrite. If a man believes that it is just and moral to redistribute wealth, there is nothing hypocritical in his attempts to redistribute some of that wealth to himself."

"The 1960s was an era of big thoughts. And yet, amazingly, each of these thoughts could fit on a T-shirt."

"Always read something that will make you look good if you die in the middle of it."

"Think what evil creeps liberals would be if their plans to enfeeble the individual, exhaust the economy, impede the rule of law, and cripple national defense were guided by a coherent ideology instead of smug ignorance."