Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

[Boomyal]

When will these clowns learn? Oh, never you say? It's really not about Federal Deficits? Oh, I see, you can't very well continue to bash the rich and the Corporations if they are paying more of the total even if their rate was lowered.

Hmmmmm? Well I guess it must have been all about class envy and divide and conquer from the outset!

They really won't learn folks 'cause they don't want to learn. It really does not benefit their end game.

...and that has been discussed in previous posts.

 

[QC]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

Come on Boomer, you know that it is just a coincidence. There is no way that you can take in more money if you lower tax rates. Smoke and mirrors, I say, no matter how many times it works!!!

Ya know what's really weird? State revenues seem to go up too. You'd think people might have more money to spend no matter how bleak it appears, and maybe the state sales tax coffers rise from more personal spending . . . ? Hmmmmmm. Nah, couldn't work that way, too simple. I know! Let's spend the windfall on a study.

 

[KRS]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

Boom... that qualifies as a rant

 

[aspeck]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

QC, you are right. We need a study. And if the study shows that lowering taxes increases guberment revenue, then we better have a study to study the study and make sure it is not flawed. :%

 

[rwise]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

yea and let us poor people pay for it :/

 

[JB]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

Simple arithmetic.

20% of 50K is $1000
15% of 70K is $1050

Reduce the rate, more money in circulation.
More money in circulation, more revenues.

 

[PW2]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

Well, I'm glad the oil companies are paying their share.

It's still a 300 billion dollar deficit, however. It may well be better than expected, but it still ain't good.

I have no idea whether this is a trend or an abberation, and as near as I can tell, neither do they. To assign a specific political explaination to it is a bit premature when they have no idea why it happened, I would think.

 

[rottenray6402]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

We can always count on you to cheer us up PW. :^

 

[QC]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

I have no idea whether this is a trend or an abberation, and as near as I can tell, neither do they. To assign a specific political explaination to it is a bit premature when they have no idea why it happened, I would think.

Good job following the talking points there PW . . . I agree with the Rotten one, if nothing else you are consistent. A consistent downer, bummer, Dem spokesperson . . . Does it even cross your mind that lowering tax rates could possibly lead to higher revenues? Prosperity? Growth? Here's a novel one: fewer people in poverty? Oh, oh, more jobs? Didn't think so.

Let's see . . . the only sure way to increase revenues is to raise taxes so we all have less to spend . . . oh but we can afford to provide more soup at the soup kitchens to handle the longer lines. Hmmmm, yeah, let's do it that way. Easier to count 8) :%

 

[jtexas]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

Simple arithmetic.

20% of 50K is $1000
15% of 70K is $1050

Reduce the rate, more money in circulation.
More money in circulation, more revenues.

hmmmmmm....
"more money in circulation"...
Is tax money taken "out of circulation?" I'm pretty sure the government spends what it collects. In fact, increase the deficit (deficit is up, not down, by the way), spend more on interest, a lot of which goes overseas...means less money in circulation.

Not to mention which...
15% of $70,000 is $10,500
20% of $70,000 is $14,000

Increase the rate = increase revenue.
Decrease the rate = decrease revenue.

BTW, revenue is higher than projected...means the projection was low...nothing more. Deficit is lower than projected...means the projection was high...nothing more.

 

[RubberFrog]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

jtexas, you really need to take some introductory economics courses bro. I am sure your conclusions sounded logical to you, but they suffer from fundamental flaws.
Please don't tell me you took those classes because, if you did, you must not have studied very hard.

 

[QC]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

I am not sure about the accounting discussions, but at first glance, for jtex's circulation argument to work the governement would have to spend as efficiently as the public . . . That one just doesn't pass the smell test for me.

 

[rottenray6402]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

Jtex, if you were selling hamburgers and business was way down would you raise the price so you make more off of the declining number you are selling or would you lower the price so you sold more hamburgers? That is what we are talking here... also if you want to see how effiecent the govt is at spending our money just take a look at social security. I think the last time I saw it the figure was they return .20 in benifits for every $1.00 they take in. If any private business did that they would be out of business. :%

 

[kenimpzoom]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

I never understand why you left leaning guys are such debbie downers.

The health of the economy has a much bigger influence over revenues than the tax rate.

Seems to me if the govt wants to increase revenues, they should do everything in their power to keep the economy healthy. I think GWB has done that.

Ken

 

[jtexas]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

"Jtex, if you were selling hamburgers and business was way down" - if I could "compel" you to buy my hamburgers, as the fed govt can do, then yes raising prices would help the bottom line.

"...your conclusions...suffer from fundamental flaws." I concede on this point: there is no evidence for a causal relationship between money supply and tax revenue, nor between money supply and tax rates, nor between the federal budget deficit and money supply. The federal reserve rate is overwhelmingly the most influential variable controlling money supply. That's economics, by the way, not accounting.

The rest of my conclusions are just simple arithmetic.

p.s. - personally I think a corporate income tax is just stupid.

 

[rottenray6402]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

That is the whole point, if I am being taxed at what I consider an obscene rate I will hold onto something or do whatever I can to legally avoid paying taxes. If the rates are lowered say on capital gains then I may sell off some of my portfolio to get a better cash position to either increase inventory, hire more workers, or do improvements on my business. All of those things stimulate the economy by putting more money into circulation. The big mistake libs make is thinking the government can stimulate growth or add jobs. The government produces nothing and is so ineffiecent in operation that it consumes rather than stimulates. This is one of the times simple arthmetic doesn't give an accurate result because of human variables. :/

 

[Kwas]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

The rest of my conclusions are just simple arithmetic.

Very Simple!! 8)

 

[RubberFrog]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

... That's economics, by the way, not accounting....

Doh! he busted me!

 

[kenimpzoom]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

If you feel so guilty about getting a tax cut, I suggest you send more money to Uncle Sam. There is a spot on the tax form just for that.

Ken

 

[JoeW]

Re: Hmmmmm! Tax cuts for the rich, Federal revenues up! Projected deficit down!

Yes, $400 billion sounds terribly high, but then so does the current cost of gasoline.

As a percentage of the GDP, our current deficit is one of the lowest the US has seen in the past 25 years.