Re: Extending Trump Tax Cuts Would Add $4.6 Trillion to Deficit: CBO

On 5/13/2024 6:52 PM, Baxter wrote:

Skeeter <skeeterweed@photonmail.com> wrote in
news:66428aac$0$2363145$882e4bbb@reader.netnews.com:
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In article <6642836f$0$6559$882e4bbb@reader.netnews.com>, "Charlie
Glock"@localhost.com says...

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On 2024-05-13, Scout <me4guns@verizon.removeme.this2.nospam.net>
wrote:

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"Yak" <yak@inbox.com> wrote in message
news:v1o9ok$24n0i$1@dont-email.me...

On 5/11/2024 8:05 AM, Scout wrote:

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"Ford Prefect" <hhgttg@galaxy.com> wrote in message
news:v1m2r4$1hjhg$3@dont-email.me...

On 5/10/2024 5:02 PM, spaminator wrote:

Ford Prefect <hhgttg@galaxy.com> wrote:
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This one again?
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Let's assume what the CBO says is correct (you can't because
it doesn't
account for the increased tax receipts that occur under tax
cuts), the IRS would have collected $4.6 billion per year
(4.6B/year * 10 years = 4.6T).

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ROFL. Your arithmetic skills are broke. Back to 3rd grade for
you.

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What's broke? Or were you educated at a public school?

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4.6B/year * 10 years = 46B
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On the other hand, lets point out that difference is irrelevant
given the sort of deficits the government is, has, and will
continue to produce.
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We need to eliminate the power of government to add or increase
any taxes.
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They get 15% of the GDP (federal, state and local) and they have
to live within their means like everyone else.
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Currently that would allow all levels of government to spend
$3.81 Trillion.
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Another 5% would be applied directly to paying down the existing
state and national debts (and would not apply to new debt)
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The FIRST budgetary item would be to pay the interest on any new
debt and paying off 5% of the principle of such debt.
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The Secondary budget item would be to service of any bonds sold
to the public to finance large government projects.
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The FINAL budget item would be pay for the elected officials.
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In short, if the government is going into debt.. they don't get
paid.
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Further they are prohibited from having any other sources of
income.

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Let's take it even another step further. According to the CBO the
total deficts from the beginning of the Trump tax cuts, and
extending them through 2033, is about $31 trillion. Subtract the
$4.6 trillion Trump tax cuts and you still have $26.4 trillion. Am
I supposed to feel better about this? Especially considering, as
Ford correctly noted, even if the govt collected it they would
spend it anyway.

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As I said limit government spending to a percentage of the GDP. If
officials exceed those limits there are consequences.
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Both parties spend like drunken sailors and it needs to stop. My
issue is more of a what are they spending my tax dollars on? Are
these bills productive or are millions of dollars set aside to study
how chickens mate?

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In the 50's and 60's we taxed the rich to pay for out spending.  We can
do it again..

 The rich are already taxed.