AOC Comments On Our Debt

[Bustin Stones]

"I think the largest contributor to the debt ceiling, to our deficit, has been the Trump tax cuts," Ocasio-Cortez said.

Because the federal government is entitled to our money?

If your parent hands you a credit card and instructs you to only spend $25 each week and you spend $30 it's not managing money effectively. Then, your parent reduces your allowance to $20 and you still spend $30? Because you were always entitled to whatever you want? And you're blaming that additional deficit on the reduction in allowance and not the spending?

[xtb]

Overall, U.S. tax revenue went up bigly after Trump's tax cuts, only a slight decrease during the first chinavirus year when everything shutdown.

[Tom]

Democrats are dumb.
AOC is a subset, REALLY dumb.

[Inner Dirt]

Originally Posted by Bustin Stones

"I think the largest contributor to the debt ceiling, to our deficit, has been the Trump tax cuts," Ocasio-Cortez said.

Because the federal government is entitled to our money?

If your parent hands you a credit card and instructs you to only spend $25 each week and you spend $30 it's not managing money effectively. Then, your parent reduces your allowance to $20 and you still spend $30? Because you were always entitled to whatever you want? And you're blaming that additional deficit on the reduction in allowance and not the spending?

Bad analogy, the government feels entitled to $30, then $35, then $40,.......

[Inner Dirt]

Originally Posted by xtb

Overall, U.S. tax revenue went up bigly after Trump's tax cuts, only a slight decrease during the first chinavirus year when everything shutdown.

Democrats don't let facts get in the way of what they will say when blaming Republicans.

[mostpost]

Originally Posted by Bustin Stones

"I think the largest contributor to the debt ceiling, to our deficit, has been the Trump tax cuts," Ocasio-Cortez said.

Because the federal government is entitled to our money?

If your parent hands you a credit card and instructs you to only spend $25 each week and you spend $30 it's not managing money effectively. Then, your parent reduces your allowance to $20 and you still spend $30? Because you were always entitled to whatever you want? And you're blaming that additional deficit on the reduction in allowance and not the spending?

Only the very dumbest people think a family budget or a kids credit card is equivalent to the budget of a nation of 330,000,000.
ITS NOT.

[mostpost]

Originally Posted by xtb

Overall, U.S. tax revenue went up bigly after Trump's tax cuts, only a slight decrease during the first chinavirus year when everything shutdown.

https://www.whitehouse.gov/omb/budge...orical-tables/

No, they didn’t.
2017. Up 1.4%
2018. Up 0.4%
2019 Up 4.0%
2020. Down 1.2%

Compare that with the last five years of the Obama Administration.

2012 up 6.3%
2013 up 13.2%
2014 up 8.8%
2015 up 7.5%
2016 up 0.5%

Or the first year under Biden
2021 up 18.3%

All this can be found in Table 1.1 at the link above.

But, there is a better way of looking at this and that s revenue as a percentage of GDP. That is found in table 1.2.
Try and follow along. This is revenue as a % of GDP during the Trump years.
2017 17.2%
2018 16.4%
2019 16.4%
2020 16.2%


That number has been 16.5% or higher fifty two years since 1960.


Absent a major crisis such as a recession or pandemic, revenue will always go up. Lowering taxes inhibits revenue growth.

[Bustin Stones]

Originally Posted by mostpost

Only the very dumbest people think a family budget or a kids credit card is equivalent to the budget of a nation of 330,000,000.
ITS NOT.

That's the definition of analogies. It's describing a situation that has a limited number of similarities. Nobody believes that an analogy is an equivalent. If one has an equivalent, it wouldn't be analogy. It'd be the exact thing.
I had hoped you could understand those similarities.

[mostpost]

Originally Posted by Bustin Stones

"I think the largest contributor to the debt ceiling, to our deficit, has been the Trump tax cuts," Ocasio-Cortez said.

Because the federal government is entitled to our money?

Because the Federal Government is entitled to be paid for the services it provides. Services no one else can provide.

[boxcar]

Originally Posted by mostpost

Only the very dumbest people think a family budget or a kids credit card is equivalent to the budget of a nation of 330,000,000.
ITS NOT.

Mr. Postman, enlighten us, please.

A family mismanages its finances and gets deep into debt, as a result. In fact, their debt drives them from being a middle income family to a family at the poverty level because they owe so much to their lenders -- all because they irresponsibly mismanaged their finances.

Likewise, a government mismanages its finances, by reckless, irresponsible spending. Every year this drives up the national debt. As the debt increases, the government has only three options for paying it down: Raise taxes continually over the years, which will leave most people with less wealth -- less disposable income. And/or print more money. But this strategy will greatly reduce the value of money over time, making goods and services more expensive for taxpayers. And/or raise corporate taxes, which corporations reckon as part of their cost for doing business and, therefore will pass along this increased business costs to consumers, which again will drive up the cost of goods and services, leaving the consumer with appreciably less disposable income.

So, explain to us how when the government mismanages its income derived from taxpayers that that is a good thing because it has no adverse affect on consumers/taxpayers wealth? Whereas, when a family does it, it's bad idea?

[xtb]

Originally Posted by mostpost

https://www.whitehouse.gov/omb/budge...orical-tables/

No, they didn’t.
2017. Up 1.4%
2018. Up 0.4%
2019 Up 4.0%
2020. Down 1.2%

Compare that with the last five years of the Obama Administration.

2012 up 6.3%
2013 up 13.2%
2014 up 8.8%
2015 up 7.5%
2016 up 0.5%

Or the first year under Biden
2021 up 18.3%

All this can be found in Table 1.1 at the link above.

But, there is a better way of looking at this and that s revenue as a percentage of GDP. That is found in table 1.2.
Try and follow along. This is revenue as a % of GDP during the Trump years.
2017 17.2%
2018 16.4%
2019 16.4%
2020 16.2%


That number has been 16.5% or higher fifty two years since 1960.


Absent a major crisis such as a recession or pandemic, revenue will always go up. Lowering taxes inhibits revenue growth.

As expected Musty has his special spin. Like I said, overall federal tax revenue went up significantly after Trump's tax cuts. We have a spending problem, not a revenue problem.

U.S. Tax Revenue by Year

FISCAL YEAR REVENUE
FY 2021 $4.05 trillion
FY 2020 $3.42 trillion
FY 2019 $3.46 trillion
FY 2018 $3.33 trillion
FY 2017 $3.32 trillion
FY 2016 $3.27 trillion
FY 2015 $3.25 trillion
FY 2014 $3.02 trillion
FY 2013 $2.78 trillion
FY 2012 $2.45 trillion
FY 2011 $2.30 trillion
FY 2010 $2.16 trillion
FY 2009 $2.11 trillion
FY 2008 $2.52 trillion
FY 2007 $2.57 trillion
FY 2006 $2.41 trillion
FY 2005 $2.15 trillion
FY 2004 $1.88 trillion
FY 2003 $1.78 trillion
FY 2002 $1.85 trillion
FY 2001 $1.99 trillion
FY 2000 $2.03 trillion

https://www.thebalancemoney.com/curr...evenue-3305762

[OntheRail]

Originally Posted by mostpost

Because the Federal Government is entitled to be paid for the services it provides. Services no one else can provide.

The Federal Gov... is required to be fiscally responsible. The Founders never envisioned a cradle to grave entitlement system... to all including illegal invader

The only service the Federal Gov... is entitled to be paid for is to Protect the Border and other National defense concerns. And Joe Briben's Administration has failed spectacularly at that.

[Bustin Stones]

Originally Posted by mostpost

Because the Federal Government is entitled to be paid for the services it provides. Services no one else can provide.

And the USPS is also entitled to be paid fairly for the service it provides. But, you wouldn't expect the USPS to charge 50 cents to mail a letter and then spend $40 of taxpayer money to deliver it? And if they did, who would be furloughed? No one. Because the USPS and the federal govt don't have anyone in the position to deal with that drastic an act. The dog eats your homework every single day. Why come up with a new excuse? There's no one there to call you on it. The govt spends whatever it deems necessary regardless of a budget.
We're being taxed at a 50% rate and the govts are spending at a 60% rate without passing a new tax. The only thing between the US and failure is an incredible rate of innovation. $31 trillion is too much. Consider what it costs to service that every year.

[davew]

Originally Posted by OntheRail

The Federal Gov... is required to be fiscally responsible. The Founders never envisioned a cradle to grave entitlement system... to all including illegal invader

The only service the Federal Gov... is entitled to be paid for is to Protect the Border and other National defense concerns. And Joe Briben's Administration has failed spectacularly at that.

You are forgetting the programs and services that most people do not even know we need. And those programs go out of their way to expand and spend all the money in their budget so they can get even MORE next time

[Tom]

Originally Posted by mostpost

Only the very dumbest people think a family budget or a kids credit card is equivalent to the budget of a nation of 330,000,000.
ITS NOT.

It is exactly the same, only most are run much better.

You don't spend what you don't have or you go broke.

DUH?