Stopmakingsense · 61-69, F
People aren't smart enough to know. It's not a democracy. It's privatized.
ElwoodBlues · M
Tax cuts have always increased the deficit. In the 40 years since Reagan suggested his tax cut would reduce the deficit, every single tax cut has increased the deficit. Every one.
Here are a few economic stats since Reagan
JOB CREATION
Reagan 16.5 million
Clinton 18.6 million
Bush 5.8 million
Obama 8.9 million
Trump NEGATIVE 3 million
YEARLY DEFICIT
Reagan $79 billion to $152 billion
Clinton lowered our deficit from 255 billion to a $126 billion SURPLUS in 2001
Bush raised deficit from 0 to 1412 billion
Obama lowered deficit from 1412 billion to 585 billion
Trump raised from 585 billion up to ~4000 billion
DJIA
Jan 20 1981, Reagan takes office 946;
Jan 20 1989, Reagan leaves office 2235;
Up 136% or 11.3% growth per year.
Jan 20 1993, Clinton takes office 3242;
Jan 20 2001, Clinton leaves office 10588;
up 227%, or 15.92% growth per year.
Jan 20 2001, Bush takes office 10588;
Jan 20 2009, Bush leaves office 7949;
NEGATIVE 3.5% per year.
Jan 20 2009, Obama takes office 7949;
Jan 20 2017, Obama leaves office 19827;
up almost 150% over 8 years, or 12.1% per year (1.121^8=2.49).
Jan 20 2017, Trump takes office 19827;
Jan 20 2021, Trump leaves office 30,930;
up 56% over 4 years, or 11.76% growth per year.
Here are a few economic stats since Reagan
JOB CREATION
Reagan 16.5 million
Clinton 18.6 million
Bush 5.8 million
Obama 8.9 million
Trump NEGATIVE 3 million
YEARLY DEFICIT
Reagan $79 billion to $152 billion
Clinton lowered our deficit from 255 billion to a $126 billion SURPLUS in 2001
Bush raised deficit from 0 to 1412 billion
Obama lowered deficit from 1412 billion to 585 billion
Trump raised from 585 billion up to ~4000 billion
DJIA
Jan 20 1981, Reagan takes office 946;
Jan 20 1989, Reagan leaves office 2235;
Up 136% or 11.3% growth per year.
Jan 20 1993, Clinton takes office 3242;
Jan 20 2001, Clinton leaves office 10588;
up 227%, or 15.92% growth per year.
Jan 20 2001, Bush takes office 10588;
Jan 20 2009, Bush leaves office 7949;
NEGATIVE 3.5% per year.
Jan 20 2009, Obama takes office 7949;
Jan 20 2017, Obama leaves office 19827;
up almost 150% over 8 years, or 12.1% per year (1.121^8=2.49).
Jan 20 2017, Trump takes office 19827;
Jan 20 2021, Trump leaves office 30,930;
up 56% over 4 years, or 11.76% growth per year.
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PicturesOfABetterTomorrow · 41-45, M
@ElwoodBlues And about half a century of actual economic activity and hell even just Chile and 90s Russia alone proved Friedman's economic theories were complete bullshit.
windinhishair · 61-69, M
The short answer is no. They have no policies, just culture wars. They no longer legislate anything other than tax cuts for the wealthy. There might be a pittance of a reduction in taxes for their base, but only enough to say we gave you a tax cut. Their lack of legislation dooms the Cult to further descent into the ooze.
Northwest · M
Forget about the GOP. It was subsumed by Trumpism, itself a byproduct of the Tea Party.
Their biggest achievement, is convincing the mostly blue collar that trickle down economics works, and not doing so, is a slippery slope toward communism.
Their biggest achievement, is convincing the mostly blue collar that trickle down economics works, and not doing so, is a slippery slope toward communism.
helenS · 36-40, F
Hey - didn't you know that cutting taxes for the rich is the best that can be done to support workers, because rich people are good people(*), and they will use that money to generate jobs. Oh yes, they will! 😏
(*)God loves them because they are good people, so he helps them to become rich. With God on our side we can't fail.
(*)God loves them because they are good people, so he helps them to become rich. With God on our side we can't fail.
Harriet03 · 41-45, F
Ronald Reagan is probably in hell waiting for heaven to "trickle down" 🤔
PrivateHell · M
Your premise is a lie. I am by no means rich, and do not own or head a corporation. Yet under the GOP tax cuts, i have actually been paying in $2400 less per year in taxes.
PTCdresser57 · 61-69, M
They declined to the lowest level in 2019 since 2011 which only add 1.6 million for all of 2011 .PrivateHell..also unemployment rate was 9.1%
PicturesOfABetterTomorrow · 41-45, M
@PrivateHell Your entire argument was that tax cuts create jobs and business investment. Their example shows the exact opposite occurred.
If your premise was true that would not be possible.
If your premise was true that would not be possible.
LordShadowfire · 46-50, M
@PrivateHell
not an anecdote
I don't see you providing any evidence, apart from your own opinion and unverifiable personal story. What else should @PicturesOfABetterTomorrow call it?
TexChik · F
You mean like not shutting down jobs? With Trump there were more jobs than there were people to fill them. Now unemployment is running rampant again. The American energy industry which was the chief exporter of oil and gas in the world under Trump has been effectively closed while the idiots in Washington beg other countries to produce more oil to buy. The GOP wants to increase the tax base by creating a thriving economy and getting more people working. The libs want to increase taxes while destroying the economy and diminishing the tax base.
TexChik · F
@helenS its very fair. Covid was not released until the end of the Trump's term. During his first 2 1/2 years in spite of faux russia scandals and impeachments, he had the economy churning. The only thing that slowed him down was Covid and the poor advice he got from the CDC. Before then America was the chief exporter of oil. Oil is what our currency actually gets value from, not gold. In a year the US , which has more oil, became the world's largest exporter. That is huge. And of course libs cant have a strong and prosperous America so they shut it down and all the jobs that supported it. Trump got small businesses booming, he was responsible for getting more African Americans into the work force than any president, ever. And now its back to being out of work. There's a huge difference
PicturesOfABetterTomorrow · 41-45, M
No. GOP and right wing economics have been debunked for years now and only benefits the richest people around.
Harriet03 · 41-45, F
AT&T lobbied hard for Trump's tax cuts & got $21 billion to "create tens of thousands of jobs."
Then it cut 42000 jobs, gave investors $44 billion in dividends & its ex-CEO a $64 million pension.
All the while it provided 90% of OAN revenue!
Then it cut 42000 jobs, gave investors $44 billion in dividends & its ex-CEO a $64 million pension.
All the while it provided 90% of OAN revenue!
whowasthatmaskedman · 70-79, M
The GOP deficit policies truly understand Americas economics. With an international debt of close to $40 trillion. (Forget the official numbers. They are like the "employment " numbers.) Every man woman and child in the States owes the world around $70,000, for stuff they have already had..And the Rich know sooner or later that bill will come due and they cant be home when the Sheriff calls to collect. So right now they are having money printed and moving it out of town as fast as they can. Hence the price of Gold and Van Goghs. Let the poor pick up the tab.. They are stupid...😷
Eternity · 26-30, M
No. Too much of that and you will eventually see worker revolts.
Would get bloody.
Reagonomics don't work I think history speaks for itself on that one.
Would get bloody.
Reagonomics don't work I think history speaks for itself on that one.
Budwick · 70-79, M
I agree with PrivateHelll - 'Your premise is a lie.'
GOP economic policies and goals are terrific!
GOP economic policies and goals are terrific!
HoraceGreenley · 61-69, M
Democrats want to repeal the SALT tax which only helps the wealthy.
jackjjackson · 61-69, M
Like their donors. They are keeping the inclusion of that which has nothing to do with building anything better top secret and hoping no one notices. As displayed in other threads the typical SW dem doesn’t even know what it is. @HoraceGreenley
HoraceGreenley · 61-69, M
PTCdresser57 · 61-69, M
I can only hope not.
NerdyPotato · M
Nope.
JoeyFoxx · 56-60, M
Don’t kid yourself.
Democrats raise taxes to provide corporate welfare.
Neither party represents the workers.
But they manipulate the media to make it seem like they are on different teams.
Democrats raise taxes to provide corporate welfare.
Neither party represents the workers.
But they manipulate the media to make it seem like they are on different teams.
thisgenericnamehere · 36-40, M
They would have to have a policy for it to be even considered. The GOP of today doesn't have the brain power for such a thing.
LordShadowfire · 46-50, M
I hope not. I've been told that before the numerous tax cuts they've passed for the rich over the past half century, it was possible for the middle class to raise a family of four on a single income.
windinhishair · 61-69, M
@LordShadowfire Not only is it true, it was the norm prior to 1980. However, the stratification of income since 1980 has put almost all economic gains in the hands of the top 3% of the population, while the lower 97% has stagnated at best.
jackjjackson · 61-69, M
It’s possible for a family of 6. The secret is actually working. @LordShadowfire
MarkPaul · 26-30, M
That wasn't always the case, but the GOP, in Kevin McCarthy's 8+ hour rambling cry-baby rant, reminiscent of what's his name... that fat idiot who played golf at taxpayer expense and claimed to be a president... has come to embrace white supremacy, lawless and reckless behaviour, and support of windfall profits for corporations. They have literally sold out.
jackjjackson · 61-69, M
Take a look at the SALT tax relief for the rich in the travesty of a bill just passed by the house dems.
jackjjackson · 61-69, M
I understand the SALT tax and the benefits of its elimination to wealthy dem donors. THAT was and remains the topic of my comment which you have not and in truth cannot honesty address. @PicturesOfABetterTomorrow
PicturesOfABetterTomorrow · 41-45, M
@jackjjackson And proving you fixate on the words you like and ignore everything else.
jackjjackson · 61-69, M
Do you even know what the SALT tax is? If you think you do please explain it.