Budget deficits are climbing

Discussion in 'Politics' started by Bammer, Mar 13, 2018.

  1. Politigator

    Politigator L-boy's Cousin
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    Most of the money is in social security, Medicare, Medicaid and defense, plus interest. Everything else is 20-25% of the budget.
     
  2. NOLAGATOR

    NOLAGATOR Deep Behind Enemy Lines
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    We may want to look at raising retirement dates for younger people.

    I would like an opt out of SS for young people.
     
  3. NOLAGATOR

    NOLAGATOR Deep Behind Enemy Lines
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    And your gang wants Medicare for all...make up your minds.
     
  4. Politigator

    Politigator L-boy's Cousin
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    It isn't my gang.

    If you had been here awhile you may realize I have been calling for reigning in these programs in for more than a decade, much more so than most of your republican buddies.
     
    • Politigator

      Politigator L-boy's Cousin
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      I am absolutely for raising the retirement age. But it won't make a difference until decades down the road.

      I am absolutely against opting out of SS. That will make the deficits worse for at least a couple of decades. There are plenty of ways to contribute to tax deferred and advantaged accounts if one so chooses.
       
    • NOLAGATOR

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      The additional money in the Market would drive growth.

      Even if you were required to invest 1/2 in the market. Everyone with 6% in a Mutual Fund?
       
    • stephenPE

      stephenPE Senior Member
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      civility........i knew it was possible.
       
    • Bushmaster

      Bushmaster Well-Known Member
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      You can't cut taxes as a way to jump start the economy (creating jobs, creating tax payers, etc) and expect revenue to increase in the same year. I don't know who taught some of you about investments, but the only thing I know that pays out that quick is a ponzi scheme.

      We have to let tax cuts do their job. We are still in year 1 of those.
       
    • NOLAGATOR

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      But POLITI/L-NERD is our Econ Guru...just ask him.

      Bush...you don't have his intellectual prowess to understand.

      No...really. Just ask him?
       
    • NOLAGATOR

      NOLAGATOR Deep Behind Enemy Lines
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      Not to mention the new jobs and pay raises which produces more Tax Revenue in the following year

      But what do I know?...L-nerd says it's over my Non- MBA, MS education.
       
    • Politigator

      Politigator L-boy's Cousin
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      They didn't generate more revenue last time we tried them. What makes you think this time is different?

      If taxes are 20% of the economy, then you have to have roughly 5% more gdp to break even for every 1% of GDP tax cut. That just isn't going to happen.

      This is basic math.

      The economy and stock market got a bump from a corporate tax cut increase in earnings. That is only a one time bump. It won't repeat. Plus add higher interest rates, inflation expectations and tariffs growth will flatten again.
       
      • NOLAGATOR

        NOLAGATOR Deep Behind Enemy Lines
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        But if you cut taxes and unemployment goes down 1-2%, job quality goes up AND wages go up that's real money coming in.

        I think your comment was, BASIC MATH.
         
      • Bushmaster

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        That one time bump mentioned above will recur every year. The full year on this hasn't materialized yet. No tax changes went into effect until Jan 1 2018.

        Government spending g, which is our tax dollars, it sucks out of the economy. The US taxpayer is more efficient at spending this money than the feds.
         
        • Omar's Coming Yo!

          Omar's Coming Yo! Gator til the grave

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          The $ from tax cuts isn't going back into the economy or creating jobs. Corporations are paying their investors with it.
          "More than 70 percent of this [tax cut] will be returned to workers," said White House Press Secretary Sarah Huckabee Sanders at a January press conference after the bill came into effect.

          However, companies have instead used the extra cash to spend billions of dollars buying back their own stock, boosting the value of shares held by investors. Buybacks reduce the number of shares on the market, immediately increasing the value of the shares that investors already hold.

          Over the past year, S&P 500 companies have given their shareholders a record $1 trillion in the form of buybacks and dividends, led by Apple, Cisco Systems, and other technology giants.

          Stock repurchases hit nearly $190 billion in the first quarter for the S&P 500, according to preliminary results from S&P Dow Jones Indices. The last time that record was set was just before the Great Recession, when companies bought up almost $172 billion of buybacks.

          Companies used Trump's tax cut for record stock buybacks, not wages


          Unfortunately, corporations have not used the money they’ve saved from the tax cut to raise workers’ pay and any potential increase in compensation could be soaked up by health insurance premiums. And, of course, paying more for health insurance doesn’t help households buy food or shelter. Without substantial income growth for most Americans and without new productive investment by businesses, tax cuts will not boost economic growth. Worse, government spending cuts triggered by cuts in tax revenue could cause a recession.
          Who Benefits From The Tax Cut 10 Months Later
           
          • AugustaGator

            AugustaGator Junior Member
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            Apple says otherwise.
             
          • Politigator

            Politigator L-boy's Cousin
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            No, it won't occur every year. The tax rates won't decrease every year. Corporate earnjngs won't get a tax cut year over year bump every year.

            Saying all private spending is always more efficient than all public spending just isn't true. Consumers buy stuff at Walmart and some of that ends up in China. Spending on infrastructure not only flows through the economy, it is an investment that has tangible benefits that can increase economic activity down the road. Spending on disease prevention makes workers productive and saves future medical expenses. Spending on education, when spent wisely, has benefits that last a decade. Without national defense, we have no economy. Spending on research pays huge future dividends.

            How do you think China is growing so much? Mainly through infrastructure spending. I'm not advocating their model, at all, and some of that infrastructure spending is wasteful, but just making a point.
             
          • Politigator

            Politigator L-boy's Cousin
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            By definition, ultimately the tax cuts have to flow through somewhere, but is mainly the much maligned "trickle down economics". The highest incomes get most of the benefit. More profits flow through to them. Stock prices go up. Buy backs make stocks go up more. Investors feel richer. They spend more. Some of that spending reaches middle and lower class, but they aren't the primary beneficiaries.

            Bottom line, the economy gets a modest one time bump at a HUGE economic debt cost. That benefit will reverse due to higher interest rates sooner or later.
             
          • Bushmaster

            Bushmaster Well-Known Member
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            The tax rate will remain in effect until 2025. Therefore, they will get the same break next year.
             
          • Tay Bang

            Tay Bang I might have been mean to Byrd
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            So much wrong in one post.

            China is not growing. Building ghost cities is catching up with them. China grew by producing Walmart crap while paying starvation wages.
             
          • g8tr72

            g8tr72 Well-Known Member
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