You can debate the merits of how the tax cut was distributed (I think it should've been more upper-middle class focused as the truly .1% rich have gotten every benefit under the sun from the federal reserve, mass migration, globalization/trade and other big govt cronyism over the last 30 years) but ultimately all it does is let people keep more of their own money. And corp tax cut was absolutely necessary in the modern global economy, even Obama conceded as such and I don't think anyone would confuse him w/ Milton Friedman.
I'd rather just make the federal government smaller so it doesn't need to take in as much revenue, so we'll have a philosophical disagreement about that. You want more taxes to finance big government, I want less taxes to finance less government.
I'd rather just make the federal government smaller so it doesn't need to take in as much revenue, so we'll have a philosophical disagreement about that. You want more taxes to finance big government, I want less taxes to finance less government.
The average federal worker out-earns their private sector counterpart. F[FONT="]ederal employees earn 17% more than comparable private sector employees in their total compensation[/FONT]
Pretending this is some big deal is embarrassing.
Pretending this is some big deal is embarrassing.
Yeah, I think that the issue here is that they wanted to move away from the EITC and other gimmicks and toward flatter scale regarding income.
The Dems will be full on socialists the next time they get in power so I don't think it will matter.
This guy nailed it (but politically I think you're correct)
"TPC conference report:
Bottom 80% currently pays 33% of all federal income taxes, but gets 35% of the tax cuts.
Top 1% currently pays 27% of all federal taxes, but gets 21% of the tax cuts.
So the share of all federal taxes paid by wealthy will rise"
I remember when the private sector had higher paying jobs. It's out of control now. Public sector jobs work less, have better benefits, less responsibility , more time off, awesome pensions and union protection
Its unsustainable
Its unsustainable
How have I shown that I'm "not a moderate?" Most people are moderates, as am I.
I'm not a fan of either party. It has absolutely nothing to do with ideology, it has everything to do with the system that is in Washington.
With that said, people who criticize Obama for his handling their deficit are delusional. People who say the recession was his fault are out of their minds. The recession happened from December 2007-June 2009. This isn't something that is disputed.
The following is the amount that the debt increased in each of these fiscal years. Notice the jump that happened as a result of the Great Recession that was 100% not his fault:
- Fiscal 2007: $161 billion (next to last year of Bush’s second term)
- Fiscal 2008: $459 billion (beginning impact from the Great Recession)
- Fiscal 2009: $1.4 trillion (Obama’s first year and in the teeth of the Recession)
- Fiscal 2010: $1.3 trillion
- Fiscal 2011: $1.3 trillion
- Fiscal 2012: $1.1 trillion
- Fiscal 2013: $680 billion
- Fiscal 2014: $485 billion
- Fiscal 2015: $438 billion
- Fiscal 2016: $587 billion
- Fiscal 2017: $666 billion (Trump’s first year of his Presidency)
It got smaller every year until his last year in office. That's an indisputable fact. The reason it made it to that $1.4 trillion per year mark had absolutely nothing to do with Obama.
Perhaps more telling of how presidents perform in terms of the deficit is how each of the past presidents performed in terms of % increase in debt per year in office:
Reagan
- Started Presidency: $965 billion
- Ended Presidency: $2.74 trillion
- Increased 184% or 13.9% per year
- Started Presidency: $2.74 trillion
- Ended Presidency: $4.23 trillion
- Increased 54% or 11.5% per year (only in office for four years)
- Started Presidency: $4.23 trillion
- Ended Presidency: $5.77 trillion
- Increased 36% or 4.0% per year
- Started Presidency: $5.77 trillion
- Ended Presidency: $11.1 trillion
- Increased 93% or 8.5% per year
- Started Presidency: $11.1 trillion
- Ended Presidency: $19.85 trillion
- Increased 78% or 7.5% per year
Any reasonable economist would measure debt in terms of %increase, not in terms of straight value. And in terms of %increase, Obama performed relatively well in that group above.
Was a Obama a perfect president? Absolutely not. But you can't argue that the guy inherited a deficit shit-storm from
-Great Recession
-The wars in Iraq and Afghanistan
-Bush tax cuts becoming permanent
-Social Security/Medicare spending going up as a result of baby boomers retire/become 65+
The guy was given a disaster, and I think he did a pretty good job with it.
