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Give it a chance and see if corporations use the tax break to create new jobs before crapping on the bill. If the break is used to line shareholder pockets and not reinvest in America maybe Trump will look to penalize those companies. Be optimistic people.Comment -
Why would anyone on the planet google a state and its tax policy vs Kennedy, Reagan and Trumps tax cuts plan? I cringe at the thought you might actually be serious.
Why wouldn't you just google Kennedy and Reagan tax reform? Doesn't fit the narrative? Just can't help it?
Maybe liberalism causes involuntary dishonesty. They have no choice.Comment -
\Blue-state governors gear up for possible legal fight over GOP tax law
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Take your boya Obama. He came in with a $9 trillion dollar deficit and left with a $19 trillion dollar deficit.
Follow closely... that means we took in exactly $10 trillion LESS than what we spent.
So Reagan added only a tiny fraction to the deficit compared to Obama, $500 billion, but in return the country got one of the most powerful economic recovery and surge in the history on America.
Obama added 20x the debt Reagan did and didn't get dvck.
So what have we learned here chico??????
We learned that money invested wisely can lead to an economic boom. AND we learned money pissed away causes no lasting economic growth.
See, that wasn't so tough.Comment -
Yep wars definitely was partially to blame. Welfare expansion was another as was his thirst to fund green energy donors.
But I do muse how you criticize Reagan for running up a relatively small deficit that eventually turned into a surplus. The return was massive, unlike we have ever seen since.Comment -
Even one of Reagan's own thinks the Tax Cuts are BS. Enough with Reagan already.
Co-Founder Of Reaganomics, Paul Craig Roberts
Paul Craig Roberts
Plunder Capitalism
I deplore the tax cut that has passed Congress. It is not an economic policy tax cut, and it has nothing whatsoever to do with supply-side economics. The entire purpose is to raise equity prices by providing equity owners with more capital gains and dividends. In other words, it is legislation that makes equity owners richer, thus further polarizing society into a vast arena of poverty and near-poverty and the One Percent, or more precisely a fraction of the One Percent wallowing in billions of dollars. Unless our rulers can continue to control the explanations, the tax cut edges us closer to revolution resulting from complete distrust of government.
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Why don't u minus all the garbage Bush left Obama and then tell me what the real numbers are. LIke the war, Like the tax cuts the bailouts. These were not created by Obama but somehow u have these numbers of Bush's, on Obama's tab. It don't work that way pork head. I know republicans never want to take blame for anything and oh boy how they love to leave the bill to someone else, but those numbers are Republican bullshit, left for someone else. I have two friends that are hardcore Republicans and these two assholes both filed for bankruptcy. Filing for bankruptcy seems to be a big southern play. Some of their friends have done it multiple times. You fuks never pay your bills and don't mind stiffing anyone blameing your bullshit on someone else. If you lived in China u pieces of shit would be in jail.Last edited by Thor4140; 12-29-17, 02:09 PM.Comment -
Chico did u know that Reagan added 186 percent to the debt while Obama added 68 percent? Well, i know u know that but i'm sure Roy doesn't and this blows up his argument that Obama left the most debt than anyone when 3/4 of the shit he shouldn't even be blamed for. Remember Bush and Cheney leaving the war debt off of the bill and being called on it numerous times? Typical Republicans. I wonder how many credit card companies Roy stiffed cause these fuks hate paying bills and only like making them.Comment -
More intellectual dishonesty. Obama ran up 10 trillion in debt and it was all Bush’s fault? Remind me what party held both chambers of Congress when Obama was elected? So Obama was president, Democrats held the congress but the 10 trillion they ran up iwas totally Bush’s fault? Incredible.
I really believe its a disease that retards the brain. No well person could think like that.Comment -
An in depth look at the NEW tax bill...........
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always baffles me at how some people are against other people getting to keep more of their own money. Perfect example of how government has desensitized much of the population over time into believing that its best to give the government more money to waste.Comment -
lighten up francis
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They're gonna waste it either way. Just now they'll borrow more to waste it. Did they address spending at all with the tax bill? No. So, making that argument for this tax bill is a red herring.
If they had matched up spending cuts of $1.5t with tax cuts of $1.5t then you could evaluate the tradeoffs. But that didn't happen. It's all borrowed.Comment -
lol you're the one who said the government is gonna waste it. I was kinda just agreeing with you just to make a point.
Point is that they didn't cut spending to give then savings back in reduced taxes. They borrowed more to reduce taxes. Can we not agree on this premise?Comment -
ok fine. they are borrowing money to reduce taxes with the hopes that it will create more jobs and more taxpayers and more tax dollars. Then the infrastructure bill will continue the change of attitude in the country.
Obviously what they were doing before wasn't working. You can either keep do the same shit over and over or change shit up. You should be supporting this tax plan but instead you tow the liberal party line. Is this Don Lemon or Joe Scarborough?Comment -
What's the best way to determine how much each president contributed to the $20 trillion U.S. debt? The most popular method is to compare the debt level from when a president enters office to the debt level when he leaves. A good visual representation is a graph showing the percent of the debt accumulated under each president. You can also compare the debt as a percent of economic output.
But these aren't accurate ways to measure the debt created by each president.
Why? The president doesn't have much control over the debt added during his first year in office. That's because the budget for that fiscal year was already set by the previous president.
For example, President Bush took office in January 2001. He submitted his first budget in February. But that was for FY 2002, which didn't begin until October 1. For the first nine months of his new term, Bush had to live with President Clinton's last budget. That was FY 2001, which continued until September 30, 2001. This is why no new president is accountable for the budget deficit in his first year in office.
Yes, it's confusing. But the federal fiscal year is set up that way to give the new president time to put together his budget during his first month in office.
The Best Way to Measure Debt by President
One way to measure the debt by president is to sum his budget deficits. That's because the president is responsible for his budget priorities.
Each year's deficit takes into account budgeted spending and anticipated revenue from proposed tax cuts or hikes. For details, see Deficit by President and Deficit by Year.
But there's a difference between the deficit and the debt by president. That's because all presidents can employ a sleight of hand to reduce the appearance of the deficit.
They can borrow from federal retirement funds. For example, the Social Security Trust Fund has run a surplus since 1987. That's because there were more working people contributing via payroll taxes than retired people withdrawing benefits. The Fund invests its surplus in U.S. Treasury notes. The president can reduce the deficit by spending these funds instead of issuing new Treasurys. Barack Obama-- Under President Obama, the national debt grew the most dollar-wise. He added $7.917 trillion, a 68 percent increase, in seven years. This was the fifth-largest increase percentage-wise. Obama's budgets included the economic stimulus package. It added $787 billion by cutting taxes, extending unemployment benefits, and funding public works projects. The Obama tax cuts added $858 billion to the debt in two years.Obama's budget increased defense spending to between $700 billion and $800 billion a year. Federal income was down, thanks to lower tax receipts from the 2008 financial crisis. He also sponsored the Patient Protection and Affordable Care Act. It was designed to reduce the debt by $143 billion over 10 years. But these savings didn't show up until the later years. George W. Bush -- President Bush added $5.849 trillion, the second-greatest amount.
It was the fourth-largest percentage increase. Bush increased the debt 101 percent from where it started on September 30, 2001, at $5.8 trillion. That's the end of FY 2001, which was President Clinton's last budget. Bush launched the War on Terror in response to the 9/11 attacks. The War on Terror included two wars. The War in Afghanistan cost $1 trillion and the Iraq War cost $807.5 billion. They increased military spending to record levels of $600 billion to $800 billion a year.President Bush also responded to the 2001 recession by passing EGTRRA and JGTRRA. The Bush tax cuts further reduced revenue. He approved a $700 billion bailout package for banks to combat the 2008 global financial crisis. Both Presidents Bush and Obama had to contend with higher mandatory spending for Social Security and Medicare.Franklin D. Roosevelt --President Roosevelt increased the debt the most percentage-wise. Although he only added $236 billion, this was a 1,048 percent increase from the $23 billion debt level left by President Hoover. Of course, the Great Depression took an enormous bite out of revenues. The New Deal cost billions. But FDR's major contribution to the debt was World War II spending. He added $209 billion to the debt between 1942 and 1945. Woodrow Wilson -- President Wilson was the second-largest contributor to the debt percentage-wise. He added $21 billion, which was a 727 percent increase over the $2.9 billion debt of his predecessor. Wilson had to pay for World War I. During his presidency, the Second Liberty Bond Act gave Congress the right to adopt the national debt ceiling.
Amount Added to the Debt for Each Fiscal Year Since 1960:
Barack Obama: Added $7.917 trillion, a 68 percent increase from the $11.657 trillion debt at the end of George W. Bush’s last budget, FY 2009.
- FY 2016 - $1.423 trillion.
- FY 2015 - $327 billion.
- FY 2014 - $1.086 trillion.
- FY 2013 - $672 billion.
- FY 2012 - $1.276 trillion.
- FY 2011 - $1.229 trillion.
- FY 2010 - $1.652 trillion.
- FY 2009 - $253 billion. (Congress passed the Economic Stimulus Act, which spent $253 billion in FY 2009. This rare occurrence should be added to President Obama's contribution to the debt.)
George W. Bush: Added $5.849 trillion, a 101 percent increase from the $5.8 trillion debt at the end of Clinton's last budget, FY 2001.
- FY 2009 - $1.632 trillion. (Bush's deficit without the impact of the Economic Stimulus Act).
- FY 2008 - $1.017 trillion.
- FY 2007 - $501 billion.
- FY 2006 - $574 billion.
- FY 2005 - $554 billion.
- FY 2004 - $596 billion.
- FY 2003 - $555 billion.
- FY 2002 - $421 billion.
Bill Clinton: Added $1.396 trillion, a 32 percent increase from the $4.4 trillion debt at the end of George H.W. Bush's last budget, FY 1993.
- FY 2001 - $133 billion.
- FY 2000 - $18 billion.
- FY 1999 - $130 billion.
- FY 1998 - $113 billion.
- FY 1997 - $188 billion.
- FY 1996 - $251 billion.
- FY 1995 - $281 billion.
- FY 1994 - $281 billion.
George H.W. Bush: Added $1.554 trillion, a 54 percent increase from the $2.8 trillion debt at the end of Reagan's last budget, FY 1989.
- FY 1993 - $347 billion.
- FY 1992 - $399 billion.
- FY 1991 - $432 billion.
- FY 1990 - $376 billion.
Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. Reaganomics didn't work to grow the economy enough to offset tax cuts.
- FY 1989 - $255 billion.
- FY 1988 - $252 billion.
- FY 1987 - $225 billion.
- FY 1986 - $297 billion.
- FY 1985 - $256 billion.
- FY 1984 - $195 billion.
- FY 1983 - $235 billion.
- FY 1982 - $144 billion.
Jimmy Carter: Added $299 billion, a 43 percent increase from the $699 billion debt at the end of Ford's last budget, FY 1977.
- FY 1981 - $90 billion.
- FY 1980 - $81 billion.
- FY 1979 - $55 billion.
- FY 1978 - $73 billion.
Gerald Ford: Added $224 billion, a 47 percent increase from the $475 billion debt at the end of Nixon's last budget, FY 1974.
- FY 1977 - $78 billion.
- FY 1976 - $87 billion.
- FY 1975 - $58 billion.
Richard Nixon: Added $121 billion, a 34 percent increase from the $354 billion debt at the end of LBJ's last budget, FY 1969.
- FY 1974 - $17 billion.
- FY 1973 - $31 billion.
- FY 1972 - $29 billion.
- FY 1971 - $27 billion.
- FY 1970 - $17 billion.
Lyndon B. Johnson: Added $42 billion, a 13 percent increase from the $312 billion debt at the end of JFK's last budget, FY 1964.
- FY 1969 - $6 billion.
- FY 1968 - $21 billion.
- FY 1967 - $6 billion.
- FY 1966 - $3 billion.
- FY 1965 - $6 billion.
John F. Kennedy: Added $23 billion, an 8 percent increase from the $289 billion debt at the end of Eisenhower's last budget, FY 1961.
- FY 1964 - $6 billion.
- FY 1963 - $7 billion.
- FY 1962 - $10 billion.
Dwight Eisenhower: Added $23 billion, a 9 percent increase from the $266 billion debt at the end of Truman's last budget, FY 1953.
- FY 1961 - $3 billion.
- FY 1960 - $2 billion.
- FY 1959 - $8 billion.
- FY 1958 - $6 billion.
- FY 1957 - $2 billion surplus.
- FY 1956 - $2 billion surplus.
- FY 1955 - $3 billion.
- FY 1954 - $5 billion.
Harry Truman: Added $7 billion, a 3 percent increase from the $259 billion debt at the end of FDR’s last budget, FY 1945.
- FY 1953 - $7 billion.
- FY 1952 - $4 billion.
- FY 1951 - $2 billion surplus.
- FY 1950 - $5 billion.
- FY 1949 - slight surplus.
- FY 1948 - $6 billion surplus.
- FY 1947 - $11 billion surplus.
- FY 1946 - $11 billion.
Franklin D. Roosevelt: Added $236 billion, a 1,048 percent increase from the $23 billion debt at the end of Hoover's last budget, FY 1933.
- FY 1945 - $58 billion.
- FY 1944 - $64 billion.
- FY 1943 - $64 billion.
- FY 1942 - $23 billion.
- FY 1941 - $6 billion.
- FY 1940 - $3 billion.
- FY 1939 - $3 billion.
- FY 1938 - $1 billion.
- FY 1937 - $3 billion.
- FY 1936 - $5 billion.
- FY 1935 - $2 billion.
- FY 1934 - $5 billion.
Herbert Hoover: Added $6 billion, a 33 percent increase from the $17 billion debt at the end of Coolidge's last budget, FY 1929.
- FY 1933 - $3 billion.
- FY 1932 - $3 billion.
- FY 1931 - $1 billion.
- FY 1930 - $1 billion surplus.
Calvin Coolidge: Subtracted $5 billion from the debt, a 26 percent decrease from the $21 billion debt at the end of Harding's last budget, FY 1923.
- FY 1929 - $1 billion surplus.
- FY 1928 - $1 billion surplus.
- FY 1927 - $1 billion surplus.
- FY 1926 - $1 billion surplus.
- FY 1925 - $1 billion surplus.
- FY 1924 - $1 billion surplus.
Warren G. Harding: Subtracted $2 billion from the debt, a 7 percent decrease from the $24 billion debt at the end of Wilson's last budget, FY 1921.
- FY 1923 - $1 billion surplus.
- FY 1922 - $1 billion surplus.
Woodrow Wilson: Added $21 billion to the debt, a 727 percent increase from the $2.9 billion debt at the end of Taft's last budget, FY 1913.
- FY 1921 - $2 billion surplus.
- FY 1920 - $1 billion surplus.
- FY 1919 - $13 billion.
- FY 1918 - $9 billion.
- FY 1917 - $2 billion.
- FY 1916 - $1 billion.
- FY 1915 - $0 billion (slight surplus).
- FY 1914 - $0 billion.
FY 1789 - FY 1913: $2.9 billion debt created. (Source: Historical Tables, U.S. Treasury Department.)
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Yep Roy has them having total control for 8 years and ran up ten trillion in debt. They had it for four months. Maybe they ran it all up in the four months. Vit Roy is the only asshole left that still thinks Reaganomics was a huge success. Even Reagan's own guys say it was an utter failure but somehow Roy knows better than the guys who actually created it LMFAO.Comment -
Obama picking up the tab for wars, trickledown tax cuts, and bailouts that almost drowned the country. If Gore would have won instead of letting these assholes steal ift from him there would have been no Lie us into the Iraq war, no trickle-down bullshit tax schemes, no bailouts. Best of all the terrorist hate would be so minor (because most (not all)of that bullshit started with lying us into Iraq)that Jibby would be able to sleep on top of his bed instead of under it.Comment -
TRUMP won because millions of people voted to take their country back. Spin it all ya wantComment -
Here you go jethroe.
Ronald Reagan: Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981. Reaganomics didn't work to grow the economy enough to offset tax cuts.
- FY 1989 - $255 billion.
- FY 1988 - $252 billion.
- FY 1987 - $225 billion.
- FY 1986 - $297 billion.
- FY 1985 - $256 billion.
- FY 1984 - $195 billion.
- FY 1983 - $235 billion.
- FY 1982 - $144 billion.
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