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Old 09-14-2018, 01:41 AM
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Default Re: New GOP tax cuts would add $3.8 trillion to deficit, says report

Quote:
Originally Posted by WallyWager View Post
Additional revenues generated through the tax cuts were already factored in, unfortunately they do not offset the losses.



This does not make up for the $3.8 trillion loss over the next two decades, not by a long shot.



This is presuming the dump truck will generate revenues so great it'll quickly both pay off the debt incurred by the investment and bring in profits. Unfortunately in part due to the first round of tax cuts making revenue growth take a hit, it already looks like we'll be back to $1 trillion deficits either this year or next year. These tax cuts will need to work at lot of wizardry in the future in order for it to be worth it.

Also this wasn't necessary at all.

The economy didn't need some extra gamble on a dump truck. Before the first round of tax cuts we were already experiencing steady growth, a bullish stock market, unemployment and underemployment in decline, and a booming job market with the longest streak of monthly job growth EVER. There wasn't a need for a temporary stimulus through tax cuts.

I really hope we're not at these deficit levels when the next downturn starts, otherwise it's going to be painful.
As I stated yesterday, revenue STILL grew...1%, which is not a lot, but it didn't "take a hit"...That logic only works for those who believe it's the government's money to begin with and Trump is just "allowing" the public to get some of it BACK...
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