Posted on 04/26/2017 3:45:53 PM PDT by lowbridge
President Donald Trump will outline major tax cuts for Americans Wednesday that could take trillions of dollars away from the federal government over the next decade and lump it on to the national debt.
The president will be "pretty broad in the principles" of tax reform that he lays out with more details coming in the summer, his director of legislative affairs, Marc Short, told the Associated Press. But what it boils down to is major hikes in the amount people can deduct from their taxes and large cuts for small businesses and corporations.
(Excerpt) Read more at newsweek.com ...
COST? “COST?” The government has money?????
Tax receipts INCREASE when tax rates decrease.
The fundamental difference between socialists and non-socialists.
If you say the Federal Reserve is part of the government (an independent agency with the word Federal in it) then yes.
The govt has money. It creates it at a whim via Quantitative Ease. In other words, bad news for you. ALL MONEY COMES FROM THE GOVERNMENT.
Beyond that, yes, if you cut taxes and not spending, you will increase debt. Not rocket science.
So what? The Government soaks us out of our money.
At least we would be helping Americans instead of spending trillions on foreign countries
“COULD COST THE GOVERNMENT $6 TRILLION”
I.e., could save the taxpayers $6 trillion.
Obama added $10 Trillion to the debt. Where did it go? What did we get out of it? Every agency reports billions as “missing” and no one gets fired or goes to jail. What a corrupt waste it is to give money to this government!
I can live with that.
Well if tax cuts “cost” the government, taxes and raising taxes cost the people.
But what really “costs” the government is spending.
The US Government doesn’t make too little; they spend too DAMN much!
Flip it around.
The gov’t will cost the taxpayers $6 trillion!
Exactly. 10 Trillion down the hole. We tried it their way and that’s what it got us.
It’s not the government’s money. And I don’t care if the stupid Federal government goes bankrupt. It prints money, anyway.
So our $6 trillion is the governments money.
Article V constitutional balanced budget amendment or our republic is lost.
Yea, that 6 trillion up front will generate much more in taxes at the back end of say 8-10 years.
You mean like the. $10 Trillion ofumbass COST us?
Only when you are above the highest point on the laffer curve
I think it will eventually raise revenue to the federal government by job creation and repatriating money, so this $6 Trillion is overstated. I don’t like the fact that so many people will effectively stop paying any taxes. I think everyone should pay something and have skin in the game.
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