Irony not lost that tariffs were the sole source of revenue

Oculus Spirit [97719]

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Last part is key.

May 31, 2019, 10:25 AM [ in reply to I didn't say federal revenue was down, I said it was lowered ]

If no one will pinch a penny, then we're doomed, taxes notwithstanding.

We're riding $23,000,000,000,000 of debt right now COUNTING on near zero federal lending rates. And that depends on a stagnant economy, and especially stagnant wages and costs (inflation). Fed increased the federal lending rate 1% and that cost us an additional $110,000,000,000 in spending just to make our "minimum payment". The whole key to managing this charade for even longer is keeping money our of people's pockets. 10% of federal revenue is spent paying the minimum balance on our debt. The government doesn't have the protection of a 30-year fixed mortgage (because no one can underwrite it, nor call it, or repossess it). Our debt is serviced at an adjustable rate. It is seen as an asset, and it can be, so long as rates can adjust. Your mortgage company is also counting on wages remaining stagnant so in 30 years they will profit on your payments exceeding inflation. If you're locked in at 3.75%, that's an awfully dangerous gamble to assume inflation will remain low that entire time.

Anyway, I'm a broken record on this. We can go perhaps 10-15 more years, who knows. But one thing you can count on is that economic policy will NOT be allowed to put more money in people's pockets, or allow costs of goods to increase. Even the actuarial tables used to calculate commuted value in everything from annuities to lottery jackpots paid in lump sum, even those rely on an assumption of stagnant wages, buying power, and core prices. History will show we've all been played for going on 40 years now. IF a President does what Trump's doing, and attacks things that can increase core prices, increase domestic demand for products previously imported, which causes wages to rise, and stops cheap illegal labor, making prices for services climb, that's BAD, not good. 5-8% economic growth will destroy America. Wall Street knows this. It's a debt serviceability indicator more than a purely economic indicator. The fed raising rates from zero to 2.25% was a wakeup call. Coupled with Trump's pro-growth plicies, the market has topped, and flattened out. To the extent wages increase, growth increases, and exports increase, and labor costs increase (all "good" stuff), we will approach that cliff we've been playing keep-away from for decades now. Obama was exactly right when he said Americans would have to get used to a stagnant economy.

It's called "globalization". That has been sold for decades as the key to prosperity and growth. And we have prospered and grown, but at a hidden and deferred cost. And history will further show, what we've done was actually a response to the 1970's. Back then, everything was opposite of what it is today. Our economic numbers were actually excellent, although history remembers the end of the 70's and early 80's as a bad economy. Actually wages rose. The middle class grew in size, and income. Real GDP growth (adjusted for inflation) was high in the 70's. Real wages grew. By "real" I mean when adjusted for inflation. Interest rates had to be increased in the late 70's early 80's to offset inflation because of a "good" economy, which is why the economy became "bad". Real GDP growth was 5% in the early 70's. It's 1-2% today. If it hits 5%, we're dead. We're riding the dollar now, and a day will come when it's a choice between the dollar, and the economy. In this scenario, the dollar always wins, but there's no room left for it to win. Both will collapse.

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that which comes from a child who is tying to maintain control over things they can't control. I do not like some of his decisions but I'm patient enough to think that Trump may be right about what he's doing and I should, for the most part, hold my tongue and not become part of this country's great loud opposition.

I extremely like that he is doing what I believe is best for America. He governs somewhat like a parent who is trying to control a group of rebellious teenagers who are dead set against practical in lieu of following their emotions to a fateful end.

I like that he doesn't double talk and I like that politicians freak when a man cuts to the chase and says in what he means in America's common language instead of politalk. He speeches lack eloquence but he does not lack communication skills by any measure outside twitter.

I agree with you on raising taxes and increasing spending. That's Obama. I've read that tax revenues have increased since Trump took office so I'm not sure that applies to him since he lowered taxes and revenues have increased. However, so has spending though not more than during Obama's tenure. I think there are truths in your statement but there is no obvious reason to make that statement when discussing Trump as a man or POTUS.

I don't like Trump

Re: I don't like Trump

Re: I don't like Trump***

did i miss Trump getting primaried?***

Re: did i miss Trump getting primaried?***

Wait,you don't like record tax increases in form of tariffs?***

Tarriffs have always been a liberal ideal

LOL yeah because global commerce hasn't changed since 1800s

Like slavery?***

Looks like the tariffs actually went up AFTER slavery

Yep. Helped give them jobs.***

Trump has put me back on the reservation.***

never liked Trump, still dont like him but

Re: never liked Trump, still dont like him but

me too, but that is him, hence my childish comment

Re: never liked Trump, still dont like him but

i would agree on the pub side, but not on the lib side

Thats part of the hatred of Trump. They dont control

Are you kidding?

lol, ok. smh***

FWIW, federal revenue isn't down***

I didn't say federal revenue was down, I said it was lowered

The effects on GDP were minimized because the tax cuts

Trickle down effect didn't work 30 years ago

Accept that it did and does...

Trickle Down is more of a religion than an economic theory.

Actually "trickle down" is a ill-fitting name given...

That way you don't have address the issues.

It's just as clear as providing "proof" against it....

That's a very short-term way of thinking...

yep,

Do you agree the protectionist policies are hurting our...

not sure what those policies are***

tariffs mainly***

Trump doesnt want any tariffs

Speaking of giving the farm away, have you spoken to any

Last part is key.

Good read here:***

Corporate tax revenues down 15%. Individual taxes up 1%.

Overall revenue is up as corporate taxes are only 7% of

What is the significance of that statistic?

It is?....

I agree, which is why I am adding perspective to such

I don't think effects of tax policy can be adequate....

The tax cut has had little to no benefit in year one. Agreed

Prove it***

You should research the meaning of the word "theory."

YOU stated the tax cuts didn't have any impact....

I would expect this level of juvenile argument from others

You are dodging him. He seems more focused.***

You have yet to actually "say" anything. Where is...

This is where you jumped in:

You found a study....ok...

That "analysis" was written before the tax effects were

What are you really saying?

I don't like that he lies and some of his tweets reflect...

Ditto for me....***

Give me somebody better to vote for

There were a lot in the 2016 Republican primary***

Agree completely - but none in the presidential election.***

This is why impeachment would be a good thing

Re: I don't like Trump

I don't care much for Country Club/Establishment 'publicans

If Trump is not "Country Club"...then who the heck is?***

Isn't that what Mara Lago is?

His policies are not conservative.

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