So I'm driving through Florida

[Old_Trapper70]

http://www.gallup.com/opinion/polling-matters/213239/taxes-may-certain-tax-reform-not.aspx


Seems citizens are good with tax cuts, especially tax payers.

You really need to learn how to read, or comprehend what you read:

• He advocated eliminating most federal income tax deductions and loopholes for the very rich, and Gallup found 63% of American adults favoring this with just 17% opposed. (Did you notice the words "VERY RICH"?)
  
  
• His proposal to simplify the federal tax code -- reducing the current seven tax brackets to four -- was also popular, with 47% agreeing and only 12% disagreeing. (TAX BRACKETS NOT TAXES)
  
  
• Trump's plan to eliminate the estate tax paid when someone dies garnered considerably more agreement than disagreement from Americans, 54% to 19%. Notably, this is an issue that Congress and the wider public have considered in the recent past, and public sentiment on the issue today is in line with past Gallup polls on this issue, such as when it asked about keeping the estate tax from increasing in 2010.
  

More recently, in March 2017, Americans viewed President Trump's general plan to "significantly cut federal income taxes for the middle class" (MIDDLE CLASS NOT THE RICH) positively: 61% agreed with the plan (with no mention of Trump in the question), 26% disagreed and 13% had no opinion. Trump's proposal to lower corporate tax rates, however, elicited a split decision, with 38% reacting positively, 43% negatively and the potentially decisive 19% "no opinion" group apparently needing more information"

Get over it dog, you will never be on the right side of any issue.

BTW, WW2 DID NOT end the Great Depression

https://mises.org/library/world-war-ii-did-not-end-great-depression

 

[Aus22]

Hmmm. So debt is bad ( I agree) but it doesn't matter. Seems to be somewhat incomplete as a theory

Dogtower I never said Debt doesn't matter , just it is not essential to tackle it straight away. In past depressions governments tackle debt first. In raising taxes and cutting social services this worsen the unemployment. In the last depression the Government spent money helping the unemployed first
" Keynes stressed more than anything else the need of public spending out of deficts in order the stimulate the economy" (American Economic Policy Seymour Harris)
Debt needs to be reduced but it will if inflation takes place. At the moment there is little inflation

 

[Aus22]

PCI and Old Trapper you are right. No political party would now get elected promising increase in taxes or cuts in spending. Trump is no different . He did advocate decreases in taxes. He only advocated cuts in spending on programs like Obama care. He did advocate increase in defence spending. At present he has not deliver many tax cuts and is talking about replacing Obama care with his own health care. So nothing much has change.
GDP is still rising but employment and wages are rising little.

 

[dogtowner]

Dogtower I never said Debt doesn't matter , just it is not essential to tackle it straight away. In past depressions governments tackle debt first. In raising taxes and cutting social services this worsen the unemployment. In the last depression the Government spent money helping the unemployed first
" Keynes stressed more than anything else the need of public spending out of deficts in order the stimulate the economy" (American Economic Policy Seymour Harris)
Debt needs to be reduced but it will if inflation takes place. At the moment there is little inflation

Really against this notion that inflation nullifies debt. Wrong on so many levels

 

[Old_Trapper70]

Really against this notion that inflation nullifies debt. Wrong on so many levels

Wrong as usual. Your other gods Reagan, Cheney, GW Bush, etc., all believed that deficits did not matter:

http://crooksandliars.com/jon-perr/reagan-proved-deficits-dont-matter

And while inflation will cause problems in other areas, it does raise revenues to the government, lowers the value of the debt, and makes it easier to pay off the debt:

http://www.economicshelp.org/blog/3...n-makes-it-easier-for-government-to-pay-debt/

 

[PLC1]

Percent of gdp does not lower debt at all.

Inflation does. If we owe a 20 trillion 2017 dollars, that's a lot different from owing that many 1960 dollars. The debt will be even less in 2030 dollars, if, that is, the numbers remain the same. All indications are that the debt will continue to grow under the current administration.

 

[dogtowner]

Inflation does. If we owe a 20 trillion 2017 dollars, that's a lot different from owing that many 1960 dollars. The debt will be even less in 2030 dollars, if, that is, the numbers remain the same. All indications are that the debt will continue to grow under the current administration.

We'll see about that. That was NOT part of the bargain that elected him. If he decides to veer he may regret it.

 

[Aus22]

Inflation will bring some problems but it will reduce debt/ In the modern political system this seems the only viable solution.

 

[dogtowner]

Inflation will bring some problems but it will reduce debt/ In the modern political system this seems the only viable solution.

So reduce household buYing power to pretend to reduce debt ?
Why not address the problem ?
Spend less.

 

[PLC1]

We'll see about that. That was NOT part of the bargain that elected him. If he decides to veer he may regret it.

The voters thought it wasn't, but his proposed budget and tax cuts may result in a bigger deficit than the last one. We will indeed see, and fairly soon.

 

[dogtowner]

The voters thought it wasn't, but his proposed budget and tax cuts may result in a bigger deficit than the last one. We will indeed see, and fairly soon.

May...
Revenues are already up. Kennedy showed that this is a possible result. But congress has to get it right. That's always a wildcard.

 

[Old_Trapper70]

We'll see about that. That was NOT part of the bargain that elected him. If he decides to veer he may regret it.

H eis not worried. He knows the same fools that voted for him to begin with will vote fro him again. They have no choice. Who else expresses the same hate, and ignorance, he does?

 

[PLC1]

May...
Revenues are already up. Kennedy showed that this is a possible result. But congress has to get it right. That's always a wildcard.

If they actually vote to cut back the expense and power of the federal government, color me astonished.

 

[Aus22]

So reduce household buYing power to pretend to reduce debt ?
Why not address the problem ?
Spend less.

Dogtowner, What do we spend less on. Health or Education? In Australia we have reduce penalty rates but have also taxed the banks to reduce debts.

 

[dogtowner]

If they actually vote to cut back the expense and power of the federal government, color me astonished.

It's going to happen by design or by having no choice. Remember BO had to start printing money to pay off his owners. When you can't borrow you have set that in motion.
Yes it will be quite a change but a good one.