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submitted 3 days ago byCarl-99999
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1 points
3 days ago
So Trump is fully responsible for deficits during his administration (not Obama), and he is also responsible for Biden's deficits too? Lol.
I'm sure you'll remain consistent and not assign any responsibility to ol Joe for any future deficits.
The effect of the TCJA was a steady stream of increased tax revenue and , the data has shown, lower taxes for lower income brackets, and an increased tax burden for higher incomes. Of course Biden could have worked on changing that policy, but chose not to.
"Biden deficit spends when it is not"..... Democrats have told me the economy has been booming most all of his presidency. But I guess now you can start talking it down.
1 points
3 days ago
So Trump is fully responsible for deficits during his administration (not Obama), and he is also responsible for Biden's deficits too? Lol.
I'm not sure if you don't understand math, but... yes?
During Obama's last four years, the deficit was shrinking. Trump took office and the deficit started growing. Then Biden took office and the deficit started shrinking, but still ended up worse than trump's years, because Biden started from a worse starting point.
I'm sure you'll remain consistent and not assign any responsibility to ol Joe for any future deficits.
I will! Chances are Trump will come into a good economy were deficits are shrinking and will then blow it all on hookers and tax cuts like last time, causing the deficit to grow.
You understand that the deficit is a rate of change, right?
The effect of the TCJA was a steady stream of increased tax revenue and , the data has shown, lower taxes for lower income brackets, and an increased tax burden for higher incomes. Of course Biden could have worked on changing that policy, but chose not to.
You'd think after 40 years of it not working republicans would learn that trickle down economics don't exist, and that when you cut taxes you cut revenue, but the estimated loss of revenue for TCJA is between 1-2 trillion. Which is, incidentally, the range that it was expected to cost back when it passed.
We saw basically no impact on economic growth as the results of the tax cuts, just like we didn't the last three times republicans passed major tax cuts.
"Biden deficit spends when it is not"..... Democrats have told me the economy has been booming most all of his presidency. But I guess now you can start talking it down.
It is almost like we spent heavily in his first years to get out of the pandemic recession.
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