Trump Tax Cuts

Leftists are absolutely losing their shit that we're getting to keep more of our own money.

Apparently their idea of a "scam" is you getting a bigger tax refund check at the end of the year.

Winning big league!

Well, my facebook feed is filling up with crap about how there is no tax credit for this or that in the tax plan. So apparently, Trump is hitler because there aren't enough tax credits.

can someone explain how tax cuts will raise revenue/pay off debt? i heard that they do, but i want to know how it works.

leftists, overall, are horrible in understanding the most rudimentary and fundamental economic concepts (i.e. California, Illinois, and Connecticut). So this shit will continue and not surprise anyone who can think critically based on history.

You cut other things to match it, usually. Both of our countries waste an enormous amount of money on useless shit.

>Well, my facebook feed is filling up with crap about how there is no tax credit for this or that in the tax plan.

And the standard deduction for a married couple is now doubled from $12,000 to $24,000, so unless you had another $12,000 in credits, you're STILL getting back more than you did last year.

And that's not even counting that they doubled the child tax credit from $1000 per child to $2,000 per child now.

>can someone explain how tax cuts will raise revenue/pay off debt? i heard that they do, but i want to know how it works.

You know what else reduces debt? Less government spending.

>taxes getting cut
>spending going up/staying the same

hmmm, riddle this Sup Forums

When people have more money, they spend more money, and taxes collected go up - Hard to believe right? Look at the record taxes collected in the third quarter of Trumps Presidency - I wonder why the MSM doesn't ever talk about this shit? Hmmmm.

the claim is that it will spur growth and investment plus more spending which equals more to be taxed, but by lowering the tax rates you decrease the ability to collect money so the amount of growth necessary to offset the tax cuts will be about one and a half greeces.

>BUT IF YOU PAY LESS TAXES THAT MEANS THE GOVERNMENT GETS LESS MONEY TO SPEND :(

Yeah, that's the point. It's sending them a clear message to stop spending money on useless shit.

So trump is cutting on gov spending? hmmm

so basically hes doing this to boost his deregulation stuff, right? less taxes and less regulation makes businesses able to profit more and grow more to hire more and pay more. once the growth gets high enough to sustain itself, he puts the taxes back in without returning the spending and voila: a fixed economy. thanks.

Lol

Can any anti-Trumpers explain this shit to me?

When Trump was running for office, MSM and the celebrities who I am suppose to admire said Trump was racist, some even saying "Trump is literally Hitler". So I voted for him.

I have yet to see any concentration camps built for non-Aryans and not one fucking person genocided. Instead, Trump has provided the best jobs report for minorities.

I didn't vote for this shit. Should I have voted for Hillary "blacks are super predators" Clinton, as I know she would have never let this happen.

Fucking morons!

2 Scoops, 2 Sips, 2 Genders, 12 Diet Cokes, & 2 Terms

Merry MAGA Christmas everyone - even to you dumb-ass libtards!

hmmmm is he really dumb or just playing dumb hmmmmm

That has to happen as a separate series of laws anyway. Tax cut first at least makes people feel good at a personal level.

Most people don't know that the income tax doesn't pay for anything anyway - just free gibs for the federal reserve jews.

no cut for the lowest bracket? IMP EACH!

They're cutting social security next and funnelling the money to pay for the rich end tax cuts. The top earners should be in a 50% tax rate and instead of cutting education and social benefits, they could stop spending so much money terrorizing the world with the military.

why does all the taxes go to the jews vatican (federal reserve)

Ideally we stop arming and funding ISIS and then we don't have to have endless wars for Israel. Also ask for all the Israeli foreign aid back at compound interest, since they never signed the NNPT.

People need to be independent of the country. I.e you can afford your own school security etc... Only then you are truely free.

>no cut for the lowest bracket? IMP EACH!

>lowest tax bracket already pays $0 in taxes
>HEY WHY DONT WE GET A TAX BREAK TOO

lmao

They won't. Anyone who says otherwise is honestly economically illiterate or lying

The laffer curve peaks at ~70% i.e. not close to where current tax rates are anywhere outside of certain socialist countries

hmmmmmmm

I'm confused, is Trump cutting spending or not? I'm not a economist or anything, but if the gov cuts taxes and does not cut spending, the deficit skyrockets! Is there anything i am missing? It's not like the american economy is growing 5% year.

Can you fucking believe it? Trump has spent less than 1//3rd of what king nigger did in his first year while collecting records federal taxes. If you account for that bitch Yellen raising interest rates - Trump has actually spent a quarter of what Obama did - but you know - this is basic economics and I know many leftists call this racist.

Hard to believe a man with no prior political office is doing more in a year for America than any of these dirtbag politicians and former presidents have done in over 4 decades. No wonder why they hate him so much, Trump is showing us how truly pathetic & corrupt these fuckers are and have been for years.

Best President since JFK!

>They're cutting social security next
Yeah they're cutting social security for retirees who make over a certain amount because rich old people had their entire lives to save up, and they don't need taxpayers subsidizing their trips to the Golden Corral

>Less government spending.
What do you cut? Its not as simple as 'lmao spend less' the US government already has reasonable debt and many obligations it needs to pay off.

Trump's not cutting taxes or spending. That's up to congress for the most part. It remains to be seen where the spending cuts might be.

In my opinion we could use some temporary major infrastructure spending like the make work projects during the great depression, and these should come from 0% interest loans that the federal rejew is compelled to issue. But that's just me.

Also don't forget that protective tariffs, deporting criminals, stopping slave labor, drugs, etc. all are effectively spending cuts. Will it happen? That's the question.

The economy is charging forward and this tax cut is going to make it even stronger. They cannot stand it. Also, trump delivered on a promise. Their heads are exploding. It’s hilarious. All out hysteria has ensued from the left. I mean they act like it’s Armageddon.

this effect is debatable, but the idea is that the more productive people in a society are better "investors" of wealth than the government. in other words, they use the money they keep to grow taxable GDP

BLOOOOMMMMPPFFF! WE NEED 90% ON EVERYONE EARNING OVER $40,000!!!

>Trump has spent less than 1//3rd of what king nigger did in his first year while collecting records federal taxes.
WOW, that is really impressive! So by now USA no longer has a deficit, no, even better! It has a superavit! Top notch! Can you provide me a source to us feeble minded?

Loose the meme flag

If the economy is so good under Trump why do we need tax cuts? Bush's, Regan's and Obama's were borrowed to ease recessions.

Where do they get 25% for the top rate?

That’s just a lie.

GDP is at 4% right now - and he has cut spending in certain areas - he saved us a billion dollars his first day in office by pulling out of the Paris accord.

The Federal Reserve Bank of New York’s Nowcast, which attempts to estimate economic output based on the latest releases of data, now says GDP appears to be growing at a 4% annualized rate in the fourth quarter. That is the highest level on record!

There was a recession dipshit, bush spent about the same on bailouts

>If the economy is so good under Trump why do we need tax cuts?

>DUDE IF THE ECONOMY IS SO GREAT WHY DO YOU WANT TO KEEP MORE OF THE MONEY THAT YOU WORKED FOR HUH???

You idiots still think taxes is how the US government funds itself.

> Trump has spent less than 1//3rd of what king nigger did in his first year
HMMMMMMM I WONDER WHY

How fucking stupid are you? How much was the debt when obama took office?

How much was the deficit when Obama left office?

Hint - Obama doubled it - spending less in a year does not mean Trump spent a negative 20 trillion in dollars - you are the kind of asshole that thinks math is racist aren't you?

>no taxes for first 29.000
why arent lefties jerking off over this again

>> getting a bigger tax refund

lol

Literally because richer people will get back a greater number of dollars from these cuts than poor people.

It doesn't punish the rich enough or provide more gibs for people who don't pay taxes in the first place.

lel

Expound to a pleb like me why there was a recession with your infinite wisdom and why this matters now or how it impacted obama's 10 trillion in spending?

But hes promised spending in the form of tax cuts and infrastructure spending, that alone will boost private investment in the short term in anticipation as well as provide another short boost when they actually pass. Government spending typically doesn't mean much for long term GDP growth rates.

Because the left's world perspective is
>I don't win unless other people lose

I was talking about the country not you, you know the thing you pledged allegiance to?

It's all about free shit. Someone has to pay. People actually saving on taxes is a big red flag for the left. They despise the middle and upper classes

>I was talking about the country not you, you know the thing you pledged allegiance to?

People pay taxes, "the country" whatever the fuck you think that means, does not.

Somehow you think it's bad for people to keep more of their own money?

6 trillion, and ok. The american recovery and reinvestment act, putting money in the hands of small businesses, an economic stimulus package adding to bushs to ease the recession, a tax cut that ended the recession and defense spending. Everything else was entitlements he had no control over. But tell me again why you hate him.

WOW, we were on different pages. But now i understood you, my man!

You claimed Trump spent 1/3 of what Obama spent, so i assumed Trump cut the federal budget to 1/3rd. But that is not what you meant. Pardon my brainletism. What you actually meant was that Trump deficit was 1/3rd of Obama first one.

Now let's go this in parts. Obama first deficit was large because of a very particular reason. Bush fucked up the economy big time. You remember the 2008 housing bubble? I do.

And about this year growth? The current federal budget is still the work of Obama. The 2018 budget will be Trump first budget.

>How much was the deficit when Obama left office?
1/3 of what he inherited from Bush.

>Hint - Obama doubled it
Nope, he cuted it in 1/3rd

>you are the kind of asshole that thinks math is racist aren't you?
xD

>that picture
I didn't believe it, not really
But boy was I wrong

nigger brained idiot

During recessions you spend money in the form of tax cuts, entitlements and other forms of stimulus in order to get people spending, boost employment and hopefully speed up the exit of recession. This adds a shitload to the deficit (and thus debt) but is better for long term economic prospects (provided the stimulus is considered).

And the deficit shrunk. No economic policy in existence could move you from $14 Tn in debt and a $1.8Tn deficit to surplus.

>why does a recession matter in government deficit

Actually, keep the flag, it suits you well

dude fucking google it

The top 16 percent of US earners pay 78 percent of taxes. Do lowly merifats even realize this?

Grace Commission from 1981. Income tax provides no income for the government. It all gets sucked away into the Federal Reserve.

"The Creature from Jekyll Island" by G. Edward Griffen.

This is all just a game of trying to juice the economy while the USD is still strong enough to get away with it.

>I don't think it's bad for people to keep money I think it's bad for a governing body to lose income

Dick. Don't think you can delete your posts.

>The top 16 percent of US earners pay 78 percent of taxes.
*income taxes

>I don't think it's bad for people to keep money I think it's bad for a governing body to lose income

Nigger, are you seriously arguing that it's bad when they government takes away less of your money? Whatever Soros is paying you, it's too much, because you're dumb as a rock.

Sorry I thought I was posting too much

This is Sup Forums idiot. Nobody knows who you are or cares how much you post.

Yep

thats the problem..just becuae business start to do better dosn't mean they start hiring more... Why would they? They are making profits .hahahaha

The democratic party was today's GOP.. The original Democratic party was the WIG party.. But u cuckservatives seem to forget your history hahahah

>lefty gibs

Pretty much this. Libtards are concerned that if taxes are cut where will the funds come from for priorities like gender neutral bathrooms and their own food stamps? In order to benefit from they'd actually have to, you know, GET A JOB instead of spending their time busking on the street corner
and collecting welfare.

sauce?

Plus, there are creative ways to avoid being a topo earner. Take Mark Zuckerjew for example, his official salary is ony $1 yet he gets hundreds of thousands per year in 'company perks'. How much do you think he pays in income tax? Probably not much.

If the 78% tax bracket is true (which I dont believe it is) than its a merely a token rate to appease the 'working class'. Realistically, anyone in that bracket would have a team of lawyers at their disposal to find every loop hole imaginable to get out of paying that much. They arent like Joe Sixpack filling out a basic 1040EZ, their tax returns are some complex shit.

Really? Hmmm, lets think about this critically for a minute...

Company A sells 100 units a week which requires a headcount of 10 employees to support. Suddenly Company A's sales double to 200 units per week, wat do? Surely they'll just maintain the same head count and pocket the additional profits right? No, when their demand increases they need to hire more people to keep up with demand.

Bump