in the past over and over it is starting to go up again like expected.
It's like running America like a small town.
It will have nothing like they have nothing!
Low taxes is a bad life! The poor does not pay much taxes and so
can't afford to buy a BMW to benefit from the low taxes.
And lacks help from the low taxes. It's about the lack of investment
on the people, the labor force making unstable as they are on shaky
ground and adapt accordingly cutting back their spending and
showing up to work in a homeless tired state.
https://www.theatlantic.com/business/archive/2013/04/the-myth-of-low-tax-america-why-americans-arent-getting-their-moneys-worth/274945
So as it's going the tax cuts are starting to kick in and so is more debt and cutting
back to make it. Tax cuts goes to the stock investors as they make more money than
a worker. With a worker paying hardly any taxes suffers because the tax dollars to
pay for food stamps help with rent and bills etc gets cut back to help the rich guy put
gas in his SUV!
Oh well you can't make them not! Republicans can't learn if they don't fail.
The poor will just cut back their spending to make it. Low taxes is a lower life
and is ok for the poor they will just cut back as they might realize they never
need it anyway!
http://conceptualmath.org/philo/status1.htm
~~~~~Trump Hits A New High-Water Mark: The Biggest Federal Deficit In 6 Years
President Donald Trump likes to boast that he’s breaking records with the latest low unemployment figures. Here’s another record for his administration: The 2018 federal deficit hit the highest level of the last six years.
The deficit jumped 17 percent (or by $113 billion) to $779 billion at the end of Trump’s first fiscal year, according to final figures released Monday by the Treasury Department. That’s mostly due to the massive corporate tax cut that slashed rates from 35 percent to 21 percent, choking revenue for spending, which climbed 3 percent. Much of that was a hike in defense spending and money to pay interest on the climbing federal debt, CNN reported.
The U.S. government’s $523 billion in interest payments to service its debt in 2018 — the highest ever — was more than the entire economic output of Belgium this year, Bloomberg reported.
Corporate tax collections in the U.S. fell 22 percent, or $76 billion, in the fiscal year, which ended Sept. 30.
The total federal debt — which combines annual deficits — was 78 percent of the nation’s entire gross domestic product in June. It hasn’t been that large a percentage since World War II.
Trump promised the tax cuts would pay for themselves by boosting business, which would produce more taxes. But that hasn’t yet happened. The Trump administration estimates that the deficit will increase to $1.09 trillion in the next fiscal year.
The federal government usually increases spending — and deficits — to boost a faltering economy — such as during the 2008 recession triggered by the subprime mortgage and banking crisis. But the economy was already in a strong recovery when Trump moved into the White House, and he still boosted the deficit.
“By cutting taxes in 2017 when the economy was already quite strong, Congress and the administration not only missed a golden opportunity to begin to address the fiscal problem, they actually made the problem worse,” William Gale, a senior fellow at the Brookings Institution, told CBS News.
The GOP had traditionally been the party that battled for a balanced federal budget.
https://www.huffingtonpost.com/entry/trump-deficit-highest-six-years_us_5bc545ece4b0a8f17ee4c5d6
