Socialism

[brewster]

Federal revenue isn't a problem.

Do tell, with numbers. Are we in for some "starve the beast"?

[DBTrek]

Federal revenue isn't a problem.

Do tell, with numbers. Are we in for some "starve the beast"?

For real?

Are you actually unaware that no matter how much the government takes in taxes they still run a deficit?

Maybe you haven’t been exposed to the numbers yet?



It is not the revenue, it’s the spending. America does not produce enough to support it.

[brewster]

Are you actually unaware that no matter how much the government takes in taxes they still run a deficit?

Untrue. Clinton left GWB a surplus.


And every time the GOP has cut taxes they have simultaneously increased spending, thus making deficits even worse.

[pineapplemike]

lower taxes on the rich and the poor alike i say

$10m aint THAT much

[DBTrek]

Are you actually unaware that no matter how much the government takes in taxes they still run a deficit?

Untrue. Clinton left GWB a surplus.


And every time the GOP has cut taxes they have simultaneously increased spending, thus making deficits even worse.

Do we live in 1993 or 2018?
Because today you’re not going to pay off our debts even if you liquidate our entire GDP, starve every citizen to death, and give all the money to the dead bureaucrats who also starved to death.

We have a GDP of $19.3 trillion
A National Debt of $21.6 trillion

Please tell me more about your plan to tax your way out of this.

Because without serious cuts in Government spending you can’t do it.

[brewster]

Do we live in 1993 or 2018?

2019 actually. And if you look at that graph, our current deficit/GDP is lower than 1993. But not for long due to Trump's bad arithmetic, both cutting taxes and increasing spending. And the notion that anyone, worker or wealthy, is overtaxed in the US is nonsense, unless you define "overtaxed" as more than you want to pay, rather than what it takes to be a 1st world country.

[Montegriffo]

Damn, the UK and Canada both pay less tax and still manage to have a free at the point of service healthcare system.
Got to hurt when you realise you are paying all that insurance on top of higher taxes.

[DBTrek]

Do we live in 1993 or 2018?

2019 actually. And if you look at that graph, our current deficit/GDP is lower than 1993. But not for long due to Trump's bad arithmetic, both cutting taxes and increasing spending. And the notion that anyone, worker or wealthy, is overtaxed in the US is nonsense, unless you define "overtaxed" as more than you want to pay, rather than what it takes to be a 1st world country.

Easy Brewster, I know you're anxious to spam all your charts and talking points at once, but you haven't finished the first discussion. Before you segue into how much of everyone elses income you feel entitled to on account of "first worldism" lets check your debt numbers. First off, you're relying on a simple graphic from the Congressional Budget Office (CBO), whose primary task is to "provide objective, nonpartisan information that would support the budget process." Who do they answer/report to? " The Congress sets CBO’s priorities".

So instead of taking the numbers that the group tasked with supporting Congressional Budgets, who answers to and takes orders from Congress, let's see what the US Department of Treasury and the US Bureau of Economics say:

End of Fiscal Year | Debt (as of 9/30, in billions) | Debt/ GDP Ratio
1993 | $4.4 trillion | 64%
2001 | $5.8 trillion | 55%
2018 | $21.6 trillion | 99%

https://www.thebalance.com/national-deb ... ts-3306287
(Site has link to government reports used)

So it seems the CBO, whose job is to support Congressional budgets, has a much rosier outlook on the state of the economy than the US Department of Treasury and US Bureau of Economics. Can you think of any reason that might be?

[DBTrek]

Statista, who pulls its numbers from the International Monetary Fund (IMF) seems to also disagree with the CBO, and put our debt-to-GDP ratio at a hair over %100:

[DBTrek]

Aaaaaaaaaaaaand the Federal Reserve agrees that the debt to GDP ratio is also over %100


https://fred.stlouisfed.org/graph/?id=GFDEGDQ188S,#0

In fact, it seems everyone except the CBO (if your graphic has accurately cited its source) disagrees with the information you're presenting.
So I question your numbers, and therefore your conclusions.

Care to explain?
Why is no other organization I can think of which deals with National Debt to GDP ratio agreeing with your CBO numbers?

Or would you rather concede this one and move on to your point about how "nobody" in the US can complain about paying taxes because of your other chart?