Biden to end most tax cuts if he wins. This will be intriguing.

Discussion in 'Economics' started by S2007S, Jun 29, 2020.

  1. Sig

    Sig

    Did you read the quote I listed above? The only way that can't be cognitive decline is if the guy was barely literate to start with. It's baffling to me how you can listen to the absolute gibberish that comes out of Trump's mouth and seriously convince yourself that he's got all his faculties? Are you really being honest with yourself here?
     
    #31     Jun 30, 2020
  2. Yes I am being honest with myself. What you deem as gibberish is likely the same gibberish you witnessed prior to 2016 election. Trump's message and presentation is the same whether you like it or not. My opinion is not about Biden's views at all but about how Biden presents. I personally believe there is a 50% chance he won't be on the ballot in November. I actually view Biden's weakness as a risk for Trump as a replacement candidate may rock the boat and no I don't think it would be Bernie.

    And yes I do agree with you that Trump does not do great speeches. He is no Bill Clinton or Barack at the Podium. Is he a narcassist? Maybe. I don't know. It doesn't matter if he saves our country. My comments are about the unknown and in this case it is who might replace Biden as a candidate or as President if he is elected.
     
    Last edited: Jun 30, 2020
    #32     Jun 30, 2020
  3. #33     Jun 30, 2020
  4. destriero

    destriero

    LOL phag off with this fantasy BS.
     
    #34     Jun 30, 2020
  5. destriero

    destriero

    https://www.brookings.edu/policy202...cut-the-tax-cuts-and-jobs-act-pay-for-itself/

    The right question: What would revenues have been without the TCJA?

    The most appropriate test of the revenue impact of the TCJA is to compare actual revenues in FY2018 with predicted revenues in FY2018 assuming Congress had not passed the legislation. In fact, the actual amount of revenue collected in FY2018 was significantly lower than the Congressional Budget Office’s (CBO) projection of FY2018 revenue made in January 2017—before the tax cuts were signed into law in December 2017. The shortfall was $275 billion, or 7.6% of revenues that were expected before the tax cuts took place. Given that the economy grew, and in the absence of another policy that could have caused a large revenue loss, the data imply that the TCJA substantially reduced revenues.

    Given that the economy grew in 2018, and in the absence of another policy that could have caused a large revenue loss, the data imply that the 2017 tax cut substantially reduced revenues.
     
    #35     Jun 30, 2020
  6. Overnight

    Overnight

    It is an impossibility for the revenue of FY 2020 to be greater than FY 2019.

    If it happens, I'll eat your hat.
     
    #36     Jun 30, 2020
  7. destriero

    destriero

    #37     Jun 30, 2020
    JesseJamesFinn1 likes this.
  8. destriero

    destriero

    https://www.taxpolicycenter.org/taxvox/revisions-revenue-projections-suggest-tcja-cost-more-expected

    In the meantime, the government now estimates it will lose $600 billion more in tax revenues than it initially thought, bringing the cut’s total cost to $1.6 trillion. Boosting the deficit while the economy is growing and at a late stage in its cycle is irresponsible, Page argues. “Usually at the peak of the economic cycle, that should be when deficits are at their lowest,” he said. “The economy is not going to grow forever, and at that point deficits will boom…stimulus policy will be needed. That’s one of the worries about running those deficits when times are relatively good.”
     
    #38     Jun 30, 2020
  9. destriero

    destriero

    #39     Jun 30, 2020
  10. destriero

    destriero

    #40     Jun 30, 2020