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Discussion and Debate
Discussion and Debate
Politics
American Politics
The GOP Tax Cut and Rising Wages....or not.
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<blockquote data-quote="Brotherly Spirit" data-source="post: 73286389" data-attributes="member: 395569"><p><a href="https://www.taxpolicycenter.org/statistics/federal-receipt-and-outlay-summary" target="_blank">Federal Receipt and Outlay Summary</a></p><p></p><p>It's not enough to judge by total numbers. Percentages of the economy for years 2016-17 and projected for years 2018-19 show decreased revenue by 1 point and an eventual increased expenditures by 0.20 point. During the years 2010-2015 when the deficit decreased each year, revenue as a percentage increased and expenditures decreased (except a slight increase at the end). Last the budget was balanced in the years 1998-2001 the percentage of revenue was higher and expenditures lower.</p><p></p><p>So if your concern is deficits and debt then you should support policies to increase revenue as a percentage of the economy and decrease spending as a percentage (overall higher taxes and lower spending). But the economy will grow slower having less money in circulation, but steady and sustainable growth. Short term less wasteful spending and long term when interests remain low plus taxes not increased and expenditures not decreased to address deficits and debt, more investments and consumption for future growth (save now and grow later).</p></blockquote><p></p>
[QUOTE="Brotherly Spirit, post: 73286389, member: 395569"] [URL='https://www.taxpolicycenter.org/statistics/federal-receipt-and-outlay-summary']Federal Receipt and Outlay Summary[/URL] It's not enough to judge by total numbers. Percentages of the economy for years 2016-17 and projected for years 2018-19 show decreased revenue by 1 point and an eventual increased expenditures by 0.20 point. During the years 2010-2015 when the deficit decreased each year, revenue as a percentage increased and expenditures decreased (except a slight increase at the end). Last the budget was balanced in the years 1998-2001 the percentage of revenue was higher and expenditures lower. So if your concern is deficits and debt then you should support policies to increase revenue as a percentage of the economy and decrease spending as a percentage (overall higher taxes and lower spending). But the economy will grow slower having less money in circulation, but steady and sustainable growth. Short term less wasteful spending and long term when interests remain low plus taxes not increased and expenditures not decreased to address deficits and debt, more investments and consumption for future growth (save now and grow later). [/QUOTE]
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The GOP Tax Cut and Rising Wages....or not.
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