Talk of The Villages Florida - View Single Post - US Taxpayer already suffering effects of Trumps tax disaster
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Old 12-21-2017, 03:26 PM
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Increases in employment during the Obama administration were minuscule and didn't keep up with the increases in our population. Since the election of President Trump, our economy has been growing faster than it had in over 50 years.

A rise in the debt does not correlate with a cut in taxes. It is not as simple as you make it out to be. Every time taxes have been cut in the past, from JFK to Reagan to Clinton, revenues to the government have increased. Every single time! The reason that we have deficits and this debt is that Congress outspends that additional income. The reason that Congress spends too much is that we don't have a balanced budget amendment. We don't have a pre-set amount that they are allowed to spend. That's like you ignoring the fact that your income is $300k and deciding to spend $400K anyway. You do this year after year and you develop a huge debt.

The plan has lowered the rate for corporations so that our corporations can compete with corporations in other countries. Corporations were deciding to do business elsewhere because they couldn't compete while being based here. We've already had several companies return and invest here. That translates to more jobs. That's simple.
And every single time that tax cut has been followed within a year by a recession.

Tax cut could push the U.S. into recession, says Paulsen - MarketWatch

The Republican Tax Plan Is a Recession Waiting to Happen | Vanity Fair

Tax Cuts Don't Lead to Economic Growth, a New 65-Year Study Finds - The Atlantic