Essential Economics for Politicians

Booter said:
  • The federal deficit swelled by more than 40 percent compared to a year ago largely because of a sharp decline in corporate tax revenues, and the CBO said the Trump tax law would add $1.9 trillion to the debt over the next decade.
I really wish this was fake news. Shitstain, if your head was not so deep in the sand or so far up your ass you would know this is all too true.
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He knows it's true, but won't/can't admit it, not out loud at any rate.
 
messy said:
It doesn't. Social democracies are the only systems that work for any given nation. But as I mentioned, people can't get very rich in those systems. No butlers or chauffeurs in Norway. And yes, those few that exist may not fully bear the costs of their own defense.
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Which social democracies has Fries U taught you work?
 
Booter said:
The Trump Tax Law Did Not Benefit Workers
  • Trump promised workers that his massive tax cuts for the rich and big corporations would benefit workers, create economic growth, and pay for itself. None of that happened.
  • Corporate profit growth hit a 6-year high, and corporations used their massive tax breaks for a record-high $1 trillion of stock buybacks.
  • Workers did not benefit. 60 percent of voters said they had not seen an increase in their paychecks as a result of the Trump tax law.
  • The Trump tax law has not created jobs. In fact, the 1,000 largest public companies actually eliminated nearly 140,000 jobs since the tax law was passed.
  • The federal deficit swelled by more than 40 percent compared to a year ago largely because of a sharp decline in corporate tax revenues, and the CBO said the Trump tax law would add $1.9 trillion to the debt over the next decade.
  • While workers were left behind, Trump and his family benefit greatly from the Trump tax law.
  • Ivanka and Jared stand to benefit from a tax break they pushed, which offers massive tax breaks to real estate developers.
  • Kushner’s family business bought $13 million in additional properties after they were designated part of an “opportunity zone” by Trump’s tax law.
  • Trump and his family benefit substantially from massive tax cuts given to the richest Americans, and from tax breaks given to “pass-through” entities like the Trump Organization
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You Fries U grads crack me up. First collusion, now the above.
 
Booter said:
  • The federal deficit swelled by more than 40 percent compared to a year ago largely because of a sharp decline in corporate tax revenues, and the CBO said the Trump tax law would add $1.9 trillion to the debt over the next decade.
I really wish this was fake news. Shitstain, if your head was not so deep in the sand or so far up your ass you would know this is all too true.
Click to expand...
Look no further than interest on 6 years of QE under Obama to see why deficits are swelling. Fries U grads and deficits go together like.......
 
espola said:
It looks like you really don't know what QE is.
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He doesn’t know what any of it is.
It’s classic. I think when he hits Walmart he goes to the nutter books that talk about the federal reserve and Opus Dei.
I’ve never seen someone so patently ignorant about all things money-related who talks so much about it.
 
Booter said:
  • The federal deficit swelled by more than 40 percent compared to a year ago largely because of a sharp decline in corporate tax revenues, and the CBO said the Trump tax law would add $1.9 trillion to the debt over the next decade.
I really wish this was fake news. Shitstain, if your head was not so deep in the sand or so far up your ass you would know this is all too true.
Click to expand...
The CBO?
What did they say about Obama care?
 
messy said:
He doesn’t know what any of it is.
It’s classic. I think when he hits Walmart he goes to the nutter books that talk about the federal reserve and Opus Dei.
I’ve never seen someone so patently ignorant about all things money-related who talks so much about it.
Click to expand...
Still wearing your collateralized debt cape while paying double digit interest to the bank every month I see.
 
Trump's Big "Win": The Largest Budget Deficit With A Strong Economy

Trump will break the record
When you take into account how the economy is doing it shows that President Trump’s budget deficits as a percentage of GDP will exceed any other President’s during a time of economic expansion. From the Committee for a Responsible Federal Budget or CFRB, the chart’s blue line shows the deficit as a percentage of GDP. At the projected 4.6% for fiscal 2019 it will the be largest in a non-recession year and is expected to stay above this level in the future.

Obama had to navigate the Great Recession
When President Obama entered office the economy was in a free fall. The deficit hit 9.8% in fiscal 2019 but that was directly related to the Great Recession. As can be seen in the durable goods orders and housing charts below, they fell dramatically and bottomed just after Obama became President.
This led to much lower tax revenue (2.4% of GDP per the CFRB) as people were laid off and companies made less money or even had losses. It also created higher spending (2.9% of GDP) for programs such as unemployment and food stamps.

Trump’s deficit will increase even as the economy grows
Multiple organizations ranging from the Congressional Budget Office to the Committee for a Responsible Federal Budget are projecting that the Federal deficit will increase even as the economy grows. Their projections are for it to increase less in 2019 than 2018, but still have many years of growth even though the current economic expansion is about to hit a decade.

Trump seems to believe (or at least that is what he says and his advisors have told him) that reducing taxes and cutting regulations will grow the economy enough to solve the debt problem. Stephen Moore from the Heritage Foundation and Larry Kudlow, Trump’s Director of the National Economic Council, are two proponents. Unfortunately, in the first year of the tax cuts, the deficit increased from $666 billion in fiscal 2017 to $779 billion in fiscal 2018, an increase of $113 billion or 17%. It looks like they are on a path to $1 trillion or more as far as the eye can see.

https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#45957b2549d1
 
Booter said:
Trump's Big "Win": The Largest Budget Deficit With A Strong Economy

Trump will break the record
When you take into account how the economy is doing it shows that President Trump’s budget deficits as a percentage of GDP will exceed any other President’s during a time of economic expansion. From the Committee for a Responsible Federal Budget or CFRB, the chart’s blue line shows the deficit as a percentage of GDP. At the projected 4.6% for fiscal 2019 it will the be largest in a non-recession year and is expected to stay above this level in the future.

Obama had to navigate the Great Recession
When President Obama entered office the economy was in a free fall. The deficit hit 9.8% in fiscal 2019 but that was directly related to the Great Recession. As can be seen in the durable goods orders and housing charts below, they fell dramatically and bottomed just after Obama became President.
This led to much lower tax revenue (2.4% of GDP per the CFRB) as people were laid off and companies made less money or even had losses. It also created higher spending (2.9% of GDP) for programs such as unemployment and food stamps.

Trump’s deficit will increase even as the economy grows
Multiple organizations ranging from the Congressional Budget Office to the Committee for a Responsible Federal Budget are projecting that the Federal deficit will increase even as the economy grows. Their projections are for it to increase less in 2019 than 2018, but still have many years of growth even though the current economic expansion is about to hit a decade.

Trump seems to believe (or at least that is what he says and his advisors have told him) that reducing taxes and cutting regulations will grow the economy enough to solve the debt problem. Stephen Moore from the Heritage Foundation and Larry Kudlow, Trump’s Director of the National Economic Council, are two proponents. Unfortunately, in the first year of the tax cuts, the deficit increased from $666 billion in fiscal 2017 to $779 billion in fiscal 2018, an increase of $113 billion or 17%. It looks like they are on a path to $1 trillion or more as far as the eye can see.

https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#45957b2549d1
Click to expand...
Time to cut government spending.
Simple.
 
Booter said:
Trump's Big "Win": The Largest Budget Deficit With A Strong Economy

Trump will break the record
When you take into account how the economy is doing it shows that President Trump’s budget deficits as a percentage of GDP will exceed any other President’s during a time of economic expansion. From the Committee for a Responsible Federal Budget or CFRB, the chart’s blue line shows the deficit as a percentage of GDP. At the projected 4.6% for fiscal 2019 it will the be largest in a non-recession year and is expected to stay above this level in the future.

Obama had to navigate the Great Recession
When President Obama entered office the economy was in a free fall. The deficit hit 9.8% in fiscal 2019 but that was directly related to the Great Recession. As can be seen in the durable goods orders and housing charts below, they fell dramatically and bottomed just after Obama became President.
This led to much lower tax revenue (2.4% of GDP per the CFRB) as people were laid off and companies made less money or even had losses. It also created higher spending (2.9% of GDP) for programs such as unemployment and food stamps.

Trump’s deficit will increase even as the economy grows
Multiple organizations ranging from the Congressional Budget Office to the Committee for a Responsible Federal Budget are projecting that the Federal deficit will increase even as the economy grows. Their projections are for it to increase less in 2019 than 2018, but still have many years of growth even though the current economic expansion is about to hit a decade.

Trump seems to believe (or at least that is what he says and his advisors have told him) that reducing taxes and cutting regulations will grow the economy enough to solve the debt problem. Stephen Moore from the Heritage Foundation and Larry Kudlow, Trump’s Director of the National Economic Council, are two proponents. Unfortunately, in the first year of the tax cuts, the deficit increased from $666 billion in fiscal 2017 to $779 billion in fiscal 2018, an increase of $113 billion or 17%. It looks like they are on a path to $1 trillion or more as far as the eye can see.

https://www.forbes.com/sites/chuckj...t-deficit-with-a-strong-economy/#45957b2549d1
Click to expand...
Nothing like ignoring 6 years of QE. Fries U! What a deal!!
 
Bruddah IZ said:
Socialist believe that government will spend taxpayers wages better than they can. Fries U grads believe the same. They forget how deficits are created.
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LMFAO - Izzy personally benefits more from Socialism than anyone on this board.

From us taxpayers - You're welcome!
 
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