Update
Only logged in members can reply and interact with the post.
Join SimilarWorlds for FREE »

Democrats are now fighting DOGE

Democrats are terrified that Trump and Musk, will get spending under control, and decrease the deficit.

This works against their plan to bankrupt our nation.
DogMan · 61-69, M
Let's compare these results with Obama's last full fiscal year in office, 2016.

Individual income tax revenues went up by a mere 0.3%, Treasury data show. Fiscal 2016 also saw a 13% drop in corporate income taxes. FICA tax collections climbed by less than 1%. Excise tax collections dropped almost 3%.

Overall revenues increased by 0.5% — about the same as this year. The deficit? It climbed by $148 billion.

So, in other words, the government did better on revenues and deficits in the year after Trump's tax cuts went into effect than it did in Obama's last year in office.

Corporate income taxes went DOWN under Obama.
Patriot96 · 56-60, C
@DogMan the LAFFER curve actually works
DogMan · 61-69, M
@Patriot96 Yes, Art is the man! Did Trump appoint him to anything yet?
Patriot96 · 56-60, C
Eliminate useless bureaucracy
DogMan · 61-69, M
FYI Under the Reagan tax cuts, Tax revenue went from 517 billion, to over 1 Trillion.

and the GDP more than doubled.
Corporalcolleague · 61-69, M
do you really believe this administration will decrease the deficit? Trump 1.0 raised the deficit far greater than than the Biden administration did...you would think decreased spending could do it but when you decrease taxes where's the offset?
Sevendays · M
@DogMan trickle down doesn't trickle down. Great in theory but not in actuality.
DogMan · 61-69, M
@Corporalcolleague I do agree that there are many unscrupulous business owners, I am not one of them.

I pay my employees very well. Some over 6 figures. During the 2008 recession, and during the pandemic
we lost a lot of business. I went without pay, and the company my wife owns that does our books did not
charge my company. We lost a lot of money, but we did it so that I could keep everyone employed.

All companies are not greedy, many just want to lower their tax burden..
DogMan · 61-69, M
@Sevendays It does with the company I own. When I make more, My employees make more. I give out bonuses
twice a year, based on profits, as do many companies. I have been doing it for over 20 years.
MasterLee · 56-60, M
Going to be a great 4 years.
DogMan · 61-69, M
@MasterLee And profitable for EVERYONE. From the poorest, to the richest, just like last time.
MasterLee · 56-60, M
@DogMan and with luck woke free.

My money is on miserable leftists starting riots and fillibusters.
This comment is hidden. Show Comment
DogMan · 61-69, M
Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts
FacebookXLinkedInShare Licensing
06:30 PM ET 10/16/2018
Taxes: Critics of the Trump tax cuts said they would blow a hole in the deficit. Yet individual income taxes climbed 6% in the just-ended fiscal year 2018, as the economy grew faster and created more jobs than expected.
DogMan · 61-69, M
Hopefully the DEI office is the first to go. They are useless, and create problems out of nothing.
nudistsueaz · 61-69, F
I wonder, why wouldn't they want to stop the waste of tax dollars? Maybe because it will adversely affect the money they pocket?
nudistsueaz · 61-69, F
@Patriot96 Honestly, it's not all Dems. There RINO's there as well.
@nudistsueaz
from how to destroy the west.
nudistsueaz · 61-69, F
@soar2newhighs Well something we don't have to worry about for at least four more years.
Theyitis · 36-40, M
Puhlease, how big were Trump’s deficits in his first term? I assure you we’re not worried about Trump “getting spending under control and decreasing the deficit.” Ain’t gonna happen. Any cuts made to government programs that help people will be more than counterbalanced by further tax cuts for rich guys like Elon and Vivek.
DogMan · 61-69, M
@Theyitis Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts
FacebookXLinkedInShare Licensing
06:30 PM ET 10/16/2018
Taxes: Critics of the Trump tax cuts said they would blow a hole in the deficit. Yet individual income taxes climbed 6% in the just-ended fiscal year 2018, as the economy grew faster and created more jobs than expected
Theyitis · 36-40, M
@Patriot96 You think rich men create jobs simply out of the goodness of their hearts? Or just because they have some extra cash burning a hole in their pockets? Nope! They have excess cash, they give themselves a bonus and store it away in offshore accounts, permanently removing it from the economy; however, if there’s more demand you can bet they’ll create more jobs to accommodate that. What creates more demand? More money in the hands of people most likely to spend it. That means middle and working classes, especially people that live paycheck-to-paycheck. In that sense, poor people do create jobs!
Theyitis · 36-40, M
@DogMan Misleading. They still blew a hole in the deficit.
From
how to destroy the West;
Spotpot · 41-45, M
Keep Trumps tax cuts for billioniers cut spending on programs that helos the poor and the working class to make upp for it thats DOGE.
sunsporter1649 · 70-79, M
This comment is hidden. Show Comment
DogMan · 61-69, M
@Carla But you did not say that you paid a lot in taxes, why is that? Are you on Medicare yet?
Carla · 61-69, F
@DogMan my income and tax burden are none of your business. I am retired. I initially retired on my dime. Take that where you will...
DogMan · 61-69, M
@Carla Initially? Well, at 65 I'm still working. I have to pay for a lot of people that did not work as hard as I, and
did not risk as much as I did. But that's OK, I still donate and give to others. Because that's what compassionate
conservatives do. Your welcome.

P.S. If you had a giant tax burden like I do, you would want them lowered.

 
Post Comment