One simple look at the tax revenue increase to the treasury and you would have seen it pays for itself. Except for the Green New deal, Inflation reduction act, and the Infrastructure bill. Non of which have produced anything but more inflation. It's the spending stupid.
Be the fiscal conservatives you pretend to be. There's a revenue problem if you can't pay for your deficits. Pay the deficit from the last tax cuts before you promise more tax cuts. You're endangering our credit rating.
It is amazing to me that an expert appears on the show that does not know basic economics... The tax cuts didn't impact revenue as it drove other economic activity and gave Americans back a sizable chunk of their money which fueled consumer spending and improved their lives... The tax revenue is ~25% more now than it was in 2015 ($4.44 trillion to $3.25 trillion) Our government needs to stop the excessive spending unless we have a major issue like Covid. Congress should use basic principles that all financial advisors give to their clients. Live within your means, wipe out your debt, and invest in your future.
We need a real plan to cut back each year and increase tax/revenue each year.... We also need to recognize that investing in healthcare/nutrition from pregnancy to 12yo will prevent children from being dysfunctional adults.
This is a similar path that Ireland tried, then failed horribly near the GFC (2008/2009). The “Bond Vigilantes” could put such an idea quickly into peril, as US Treasury auctions in the future would fail to find enough buyers.
How did the greatest expansion of the US economy happen at a time when taxes were much much higher? How did people have pensions, how did households live off 1 income?
@@jacobwatson3781Taxes rates were higher but there were many more deductions as well. The government’s revenue was similar to today in terms of % of the economy. Not to mention that the federal government was spending the money on the military back in those days. Today it is on social safety programs.
why we always talk about next ten years, keep it simple, just talk about one year. GOP will fund tax cuts in the usual manner, by printing money..and kicking the can down.. leave it to next administration to manage debt, and they will do the same,leave it to the next sdministration
Tax cuts don’t cost money, the reason why people say that they do is because the government still spends the same amount with less revenue flowing it. If you want to significantly cut taxes, you must also find a way to cut spending on that which we do not need.
That is the obvious and correct answer, but somehow the idea of "funding" tax cuts by REDUCING government spending never seems to get much play!! I am of the opinion, after having spent 40 years trying to get things accomplished through government and seeing the bureaucracy continue to "bloat" over every single year without EVER seeing a reduction that fully 1/3 of all government spending could be CUT completely and no one would see any change in the funcionging of goverment. The remaining staffs of all the amazing overlaps on mission would have to work a bit harder. I saw it in California with the "freak out" by government om 1978 after the PEOPLE passed prop 13 freezing in large part property taxes claiming all the disastrous effects it would have on the usual suspects like Fire and Police. IT DID NOT HAPPEN.
@jacobwatson3781 decrease food stamps for young adults and give them to ss recipients, and cut ss and the military budget for sure... one year of no new military spending would save a trillion dollars... and cut a lot of other bs government programs, like all bs research
You’re still forgetting the cutting spending part, which is the issue. Doesn’t matter if growth improves while spending simultaneously increases at the same or greater rate. See the budgets from 2017-2020 for prime examples
lol Jesus Christ, this comment section. If you're so incredibly worried about funding government spending, *donate* your remaining untaxed income. If you think the government isn't stealing enough of your money, give it to them voluntarily. Problem solved! No more deficits! You won! Everyone else *was* dumb!
I no longer want to pay social security and want my money back. Boomers already have the assets and were able to buy their house for a strawberry (last line stolen from a comedian). :)
Not necessarily. Inflation is about price reaction to supply and demand. If you raise prices, it will drive down demand unless it’s a necessity like food. And even then, what happens is consumers will simply reallocate their spending (ie demand for non-essentials will go down or they’ll eat cheaper food) Housing is a perfect example of this. In 4 years housing costs have increased vs income, but you dont see rampant homelessness. Ppl simply put more % of their income towards housing and less towards things like commodities, vacations, etc. So on the whole, you may see “sticky inflation” on one part of the economy, but it balances with deflation on other parts
Actually tax increases are deflationary Tax cuts are inflationary. The response to inflation should have been some tax increases and cuts to government spending. That's what Clinton did in the 90s when we had high inflation. It never came back until Trump/Biden decided to light the country on fire doing the opposite along with 10+ years of free money.
Love how they glance over tariffs and social program cuts. Tariffs are a tax on Americans because the cost of the tariff is eventually paid by the consumers (plus the customary business add on because we can price increase and blame tariffs/inflation/regulation/wages/etc..) Deep cuts in social programs will hurt millions of Americans from newborn babies to the oldest. But it will help a couple thousand of the most wealthy by allowing them to pay less taxes on gains they never lifted a finger for or suffered for to get.
How about a plan from Democrats to cut spending? Why are we running 2T in deficits when the economy per them is " doing good" and there is full employment?
spending has been cut under democrat presidents. not nearly to a balanced budget, but cut nontheless. what you should be asking is: what is republicans plans to fund their cuts? they spoke of the 2017 tax cuts as self funding once the economic impact was fully implemented, but that never manifested in substantial employee raises and more jobs. it ended up costing the US more (and still under the current admin). we're still paying for the tax cuts now.
Our largest expense is the military. You want to cut any of that bloated budget? How about social security? Education? Were you trying to cut spending pal? Cutting taxes reduces revenue, the irony is that you probably support that and also whine when the deficit increases
@@brad1928 This level of delusion is truly legendary. We have the lowest defense budget of the past 10 years, what are you yapping about? School budgets have increased every year producing the same horrible results. Your people are getting voted out in November, you can bet your life on that.
@@brad1928 This level of delusion is truly legendary. We have the lowest defense budget of the past 10 years, what are you yapping about? School budgets have increased every year producing the same horrible results. Your people are getting voted out in November, take that to the bank.
![URGENT!! Latest Trump News [8AM] 9/8/2024 | 🅼🆂🅽🅱️🅲 BREAKING NEWS Today September 8, 2024](http://i.ytimg.com/vi/CkGhlRUpcAo/mqdefault.jpg)
There is no such thing as a republican plan to raise revenue
And there doesn't need to be genius.
@@nickvin7447 Well, when you're 34T in debt? Yep. Idiot.
@@nickvin7447 ha ha I was thinking that same thing. Government is supposed to be a non-profit organization.
@@nappybiscuit Yep, instead they are trying to be big business when they are some of the worst at making money in history.
That’s a good thing
They can't and won't. Pay off the last tax cut before you float another one.
They have never actually funded their tax cuts.
Lol it's called national debt
One simple look at the tax revenue increase to the treasury and you would have seen it pays for itself. Except for the Green New deal, Inflation reduction act, and the Infrastructure bill. Non of which have produced anything but more inflation. It's the spending stupid.
😂@@jamesklaatu9359
Trump incentivized overseas companies to go home and create jobs. That's one way to fund the cuts
I thought Trump lowered the amount of people on welfare/EBT ?
Uh… They won’t fund them.
How did they fund the 2017 tax cuts? Umm... #theydidnt
Be the fiscal conservatives you pretend to be. There's a revenue problem if you can't pay for your deficits.
Pay the deficit from the last tax cuts before you promise more tax cuts. You're endangering our credit rating.
Extending Trump Taxes will cost the Government 4.6 T and increase the deficit
It is amazing to me that an expert appears on the show that does not know basic economics... The tax cuts didn't impact revenue as it drove other economic activity and gave Americans back a sizable chunk of their money which fueled consumer spending and improved their lives... The tax revenue is ~25% more now than it was in 2015 ($4.44 trillion to $3.25 trillion) Our government needs to stop the excessive spending unless we have a major issue like Covid. Congress should use basic principles that all financial advisors give to their clients. Live within your means, wipe out your debt, and invest in your future.
We need a real plan to cut back each year and increase tax/revenue each year.... We also need to recognize that investing in healthcare/nutrition from pregnancy to 12yo will prevent children from being dysfunctional adults.
This is a similar path that Ireland tried, then failed horribly near the GFC (2008/2009). The “Bond Vigilantes” could put such an idea quickly into peril, as US Treasury auctions in the future would fail to find enough buyers.
No tax on tips will forever put Nevada s Red State.
How did the greatest expansion of the US economy happen at a time when taxes were much much higher? How did people have pensions, how did households live off 1 income?
WWII left us being the only superpower left standing. Countries started to park their money here in treasuries.
@@MrMountain707And we thrived with extremely higher taxes
@@jacobwatson3781Taxes rates were higher but there were many more deductions as well. The government’s revenue was similar to today in terms of % of the economy.
Not to mention that the federal government was spending the money on the military back in those days. Today it is on social safety programs.
@@akp167What does the government spend now of Homeland Security and Military budget now?
why we always talk about next ten years, keep it simple, just talk about one year. GOP will fund tax cuts in the usual manner, by printing money..and kicking the can down.. leave it to next administration to manage debt, and they will do the same,leave it to the next sdministration
Obama 8 trillion in 8 years. Trump 8 trillion in 4 years
Tariffs & increase economic activity (Right to Work Legislation).
Tax cuts don’t cost money, the reason why people say that they do is because the government still spends the same amount with less revenue flowing it. If you want to significantly cut taxes, you must also find a way to cut spending on that which we do not need.
They never do that last part though. That would be too politically unpopular.
Stop Fn spending and prices will fall......
Reduce government??? Easy answer ?
How many jobs has the federal goverment needlessy added since 2001.... cut government spending on everything
That is the obvious and correct answer, but somehow the idea of "funding" tax cuts by REDUCING government spending never seems to get much play!! I am of the opinion, after having spent 40 years trying to get things accomplished through government and seeing the bureaucracy continue to "bloat" over every single year without EVER seeing a reduction that fully 1/3 of all government spending could be CUT completely and no one would see any change in the funcionging of goverment. The remaining staffs of all the amazing overlaps on mission would have to work a bit harder. I saw it in California with the "freak out" by government om 1978 after the PEOPLE passed prop 13 freezing in large part property taxes claiming all the disastrous effects it would have on the usual suspects like Fire and Police. IT DID NOT HAPPEN.
Well, how much you want to cut from Defense Budget, SS, and Medicare?
@jacobwatson3781 decrease food stamps for young adults and give them to ss recipients, and cut ss and the military budget for sure... one year of no new military spending would save a trillion dollars... and cut a lot of other bs government programs, like all bs research
Good thing you werent around to advise FDR
@@NewDealDem2187 FDR sold out Americans to the wealth disparity that exists now, also hurt the black population.
Tip wages really 😂 going after pennies
Taxes? Really??? Come on guys the dollar is already dead. Why tax anyone when fiscal policy is broken in America?
Reducing taxes and Regulations actually grows the economy…. You pay off debt by GROWTH not more taxes
You're talking about old economics?It doesn't work that way anymore
Trickle down doesn't work. It's proven over and over.
@@teebone2157 Just like gravity doesn’t work anymore
You’re still forgetting the cutting spending part, which is the issue. Doesn’t matter if growth improves while spending simultaneously increases at the same or greater rate. See the budgets from 2017-2020 for prime examples
Just shut down Gender Study and Equality and put that money into healthcare such as diabetes research that China has found the cure
lol Jesus Christ, this comment section. If you're so incredibly worried about funding government spending, *donate* your remaining untaxed income. If you think the government isn't stealing enough of your money, give it to them voluntarily. Problem solved! No more deficits! You won! Everyone else *was* dumb!
Gov has spending problem. They are the problem. Less money for government, more money for people.
Considering the current debt issue, bidens plan would be better but they have to cut spending on "defense" and some social programs
depends on how much a supermajority would spend really
End the IRS go to a consumption tax
Meat Axe Green & EV crap scams
Cut $50 billion to Uke
Trump wants to continue giving money to Ukraine. Don't get your hopes up.
I no longer want to pay social security and want my money back. Boomers already have the assets and were able to buy their house for a strawberry (last line stolen from a comedian). :)
At current interest rates the interest on our debt will be 3.8 trillion dollars a year by 2028 what the hell are you guys talking about
Raise taxes on companies and they pass it on to consumers, = inflation
Lower taxes on the rich, lower corporate taxes. Then, stock buybacks!! Win-Win for the little guy!!
Not necessarily. Inflation is about price reaction to supply and demand. If you raise prices, it will drive down demand unless it’s a necessity like food. And even then, what happens is consumers will simply reallocate their spending (ie demand for non-essentials will go down or they’ll eat cheaper food) Housing is a perfect example of this. In 4 years housing costs have increased vs income, but you dont see rampant homelessness. Ppl simply put more % of their income towards housing and less towards things like commodities, vacations, etc. So on the whole, you may see “sticky inflation” on one part of the economy, but it balances with deflation on other parts
Actually tax increases are deflationary
Tax cuts are inflationary.
The response to inflation should have been some tax increases and cuts to government spending. That's what Clinton did in the 90s when we had high inflation. It never came back until Trump/Biden decided to light the country on fire doing the opposite along with 10+ years of free money.
@@Brendonbosy the consumer of today doesn’t know how to stop spending.
@@Brendonbosyif we implement mass tariffs, the cost will be passed on the consumer.
Cut spending
Just drop a couple of trillion from your budget and see how that goes.
Love how they glance over tariffs and social program cuts. Tariffs are a tax on Americans because the cost of the tariff is eventually paid by the consumers (plus the customary business add on because we can price increase and blame tariffs/inflation/regulation/wages/etc..)
Deep cuts in social programs will hurt millions of Americans from newborn babies to the oldest. But it will help a couple thousand of the most wealthy by allowing them to pay less taxes on gains they never lifted a finger for or suffered for to get.
How about a plan from Democrats to cut spending? Why are we running 2T in deficits when the economy per them is " doing good" and there is full employment?
How about a plan from Republicans to cut spending? Hasn't happened.
spending has been cut under democrat presidents. not nearly to a balanced budget, but cut nontheless. what you should be asking is: what is republicans plans to fund their cuts? they spoke of the 2017 tax cuts as self funding once the economic impact was fully implemented, but that never manifested in substantial employee raises and more jobs. it ended up costing the US more (and still under the current admin). we're still paying for the tax cuts now.
Taiwan and Israel and Ukraine need our tax money apparently
You realize, the GOP spends more than DEMS right?
Giving weapons to Ukraine is the most efficient money spent by the US.
By cutting spending libs.
Our largest expense is the military. You want to cut any of that bloated budget? How about social security? Education? Were you trying to cut spending pal? Cutting taxes reduces revenue, the irony is that you probably support that and also whine when the deficit increases
You don't get out or read much, do you? Oh wait: you watch NewsMax!!
@@brad1928 This level of delusion is truly legendary. We have the lowest defense budget of the past 10 years, what are you yapping about? School budgets have increased every year producing the same horrible results. Your people are getting voted out in November, you can bet your life on that.
@@brad1928 This level of delusion is truly legendary. We have the lowest defense budget of the past 10 years, what are you yapping about? School budgets have increased every year producing the same horrible results. Your people are getting voted out in November, take that to the bank.
@@brad1928 Can't wait to watch you cry when you are voted out in November.
You dont have to fund tax cuts
Simply put, discounts the views of anyone who talks in acronyms.
There is no cost for cutting taxes
Inflation.
Обожаю твои ролики!) каждый раз угараю как гиена из король лев))))
Social Security duh….
Many comments here more than a little math challenged