What would happen to your check if Medicaid funding for care centers was slashed in half.
Trump's tax plan released. He is doing what he promised.....and it is GREAT!!!
- Thread starter TornadoHawk93
- Start date
People would still have to be cared for. The funding scheme and business models would have to change, but care would still happen.
What's missing is how the Musk Administration plans to pay for this tax plan. Trump's infamous tax plan in 2017 added two trillion to the national debt. The old adage that tax cuts pay for themselves has proven to be consistently debunked over the years.
On the overtime tax relief, will that apply to all money earned as overtime pay or just any excess beyond the standard base pay? I can't get OT but think it should be for all of the income being exempt myself.
As Donald trump has said repeatedly, we do not have an issue with not receiving enough in tax revenue. We have a spending problem that's quickly being cleaned up much to the left's dismay.
As Donald trump has said repeatedly, we do not have an issue with not receiving enough in tax revenue. We have a spending problem that's quickly being cleaned up much to the left's dismay.
You don’t have to pay for it until/unless the Dems get back into the WH or control Congress. That is when debt becomes a real problem again. Not until.
Why don't you go and look at what government revenues did during Trump's first term??....report and get back to us...
Yes, he is talking total government revenues which exploded during the first Trump term....and your metric would have shown excellent growth from 2016 to 2020...
They seemed rather stable with slight decreases in the early years and a slight increase in the later.
Fiscal Data Explains Federal Revenue
Check out @FiscalService Fiscal Data’s new federal revenue page! #FederalRevenue
fiscaldata.treasury.gov
Now, let’s look at deficits…
Fiscal Data Explains the National Deficit
Check out @FiscalService Fiscal Data’s new national deficit page! #NationalDeficit
fiscaldata.treasury.gov
Government revenues rose significantly during Trump's first term...
Feels true.
U.S. government - receipts 2029 | Statista
The total receipts of the United States government added up to about 4.44 trillion U.S.
www.statista.com
| '24* | 5.08 |
| '23 | 4.44 |
| '22 | 4.9 |
| '21 | 4.05 |
| '20 | 3.42 |
| '19 | 3.46 |
| '18 | 3.33 |
| '17 | 3.32 |
| '16 | 3.27 |
| '15 | 3.25 |
| '14 | 3.02 |
| '13 | 2.78 |
It’s amazing that magats still don’t understand how tariffs work.
Feels true.
U.S. government - receipts 2029 | Statista
The total receipts of the United States government added up to about 4.44 trillion U.S.
'24* 5.08 '23 4.44 '22 4.9 '21 4.05 '20 3.42 '19 3.46 '18 3.33 '17 3.32 '16 3.27 '15 3.25 '14 3.02 '13 2.78
The devil is in the details. I'd wager that only the "half" of time-and-a-half doesn't get taxed once the actual rules are written.
But….
If you remove the govt subsidy the industry is going to have to go through a contraction.
That was mostly because Obana had successfully “jump started” the economy following the crash of ‘08 - certainly not from anything Trump did for the economy…which was his tax cut but that was 2 years or so into his term…The economy numbers jump was mostly due to Obama economic/fiscal policies he started after he took office in ‘09…. Remember there was pressure on him to allow the Feds to bump interest rates in about ‘14 but he refused (hoping to get a Dem elected after him in ‘16).
Could
Or families could step up and take care of family at home
Or people could try to go it alone at home and either fail or succeed.
I think a giant step backwards into the 1950’s about what this President and Congress would like.
The rich are still gonna make a killing! Tge key to social engineering is……TAX CODE! As long as you let corporations and businesses write the tax code, the average working man is screwed. The $$gentry always wins these battles. And the average Joe just pays for the rich and their excesses.
hawkeyetraveler
HB Heisman
Apparently you have no idea the scope of the budget problem we have. I have posted this repeatedly over the years, but here’s a quick remedial primer using 2023 which is the most recent year we have full data on:
Revenue: $4.4 trillion
Cost: $6.1 trillion
- Mandatory spending (SS, Medicare, veteran benefits, etc): $3.8 trillion
- Interest on US debt: $0.7 trillion
- Discretionary spending:$1.7 trillion (of which $0.8T is military and everything else is $0.9T)
If Doge cut all non military discretionary spending we would still run a deficit of $0.8 trillion
We.have.a.revenue.problem
Well that or we have to kick granny off social security, remove your veteran benefits and completely downsize our military.
Instead Trump promises to cut taxes and increase military spending. My guess is at best Doge finds a couple hundred billion, this is not going to solve the problem. Hell I doubt doge even covers the decrease in tax revenue
We.have.a.revenue.problem
I have suggested a path forward. Tax inheritance, there is plenty of money there and the dead don’t need it - neither do the trust fund babies. But y’all are too dense and have your head in the sand on the scope of the issue.
One day this bill will come due and it will be our children that pay the price, because…
…we have a revenue problem and we don’t want to admit it.
Open your eyes…you are smart enough to understand this.
Not sure why we continue to have veteran medical benefits in the age of Obamacare. My mother (an Air Force vet) was getting VA medical services waaaaay past the age when she was eligible for Medicare. Why?
That's just ONE big line item that could be cut. Without hurting anyone. They'll still get care.
hawkeyetraveler
HB Heisman
That’s just shifting cost from one pool to another. Maybe there is some efficiency gain with 1/2 the administration costs. Still, a literal drop in the bucket. We would seriously need to eliminate the military or hammer social security to fix the problem without raising taxes.
Everyone has their head in the sand on this. At least the democrats are honest that they don’t care about deficits. The republicans pretend to care, but they really only care about cutting taxes. Everything else is just showmanship…because the solution must include aggressive cuts AND an increase in revenue.
Donald Trump is continuing his legacy of leading yet another entity into bankruptcy, unfortunately it is our country.
At least Trump is trying to attack the expense side of the balance sheet with DOGE. I don't think I've ever seen a president actually make a serious attempt to cut spending in my entire life.
hawkeyetraveler
HB Heisman
Please know I am in favor of spending cuts. I have real issues with how they are doing the cuts - and I’m not convinced Trump will actually cut spending, but we must make cuts one way or the other.
And you are right, it’s been a long time since a President cut the budget. If I’m not mistaken Clinton was the last one to do it.
Clinton wrongly gets the credit for that. The Republicans dragged him kicking and screaming into austerity.
After Republicans won control of Congress in 1994, Clinton vehemently fought their proposed tax cuts, believing that they favored the wealthy and would weaken economic growth. In August 1997, however, Clinton and Congressional Republicans were finally able to reach a compromise on a bill that reduced capital gain and estate taxes and gave taxpayers a credit of $500 per child and tax credits for college tuition and expenses. The bill also called for a new individual retirement account (IRA) called the Roth IRA to allow people to invest taxed income for retirement without having to pay taxes upon withdrawal. Additionally, the law raised the national minimum for cigarette taxes. The next year, Congress approved Clinton's proposal to make college more affordable by expanding federal student financial aid through Pell Grants, and lowering interest rates on student loans.
Clinton also battled Congress nearly every session on the federal budget, in an attempt to secure spending on education, government entitlements, the environment, and AmeriCorps–the national service program that was passed by the Democratic Congress in the early days of the Clinton administration. The two sides, however, could not find a compromise and the budget battle came to a stalemate in 1995 over proposed cuts in Medicare, Medicaid, education, and the environment. After Clinton vetoed numerous Republican spending bills, Republicans in Congress twice refused to pass temporary spending authorizations, forcing the federal government to partially shut down because agencies had no budget on which to operate.[12] In April 1996, Clinton and Congress finally agreed on a budget that provided money for government agencies until the end of the fiscal year in October. The budget included some of the spending cuts that the Republicans supported (decreasing the cost of cultural, labor, and housing programs) but also preserved many programs that Clinton wanted, including educational and environmental ones.
A long way to say that a split government where people are forced to actually work with each other isn’t a bad thing. The Republicans own every branch of government currently, so we’ll see what they can do, but so far they’ve abdicated any checks and balances.
I’m all for cutting back military spending. Drastically.
Increase tax rate on higher earners (moving target depending who you ask).
Increase tax rate on higher earners (moving target depending who you ask).
Coast Guard should be eliminated and all related pensions suspended. Auction of all the assets and quit pretending they actually do anything of value. What a joke.
CBO Estimates $710 Billion Deficit in First Quarter of Fiscal 2025
You are a dumb human being, not really deflection
Oh so tax revenue receipts grew consistently better every year during Biden’s term than Trump’s?Feels true.
U.S. government - receipts 2029 | Statista
The total receipts of the United States government added up to about 4.44 trillion U.S.
'24* 5.08 '23 4.44 '22 4.9 '21 4.05 '20 3.42 '19 3.46 '18 3.33 '17 3.32 '16 3.27 '15 3.25 '14 3.02 '13 2.78
Whodathunk? Every MAGAt claims the opposite ITT. They can’t stand the truth.
20% increase in inflation will help to increase tax receipts, of course you already knew that.
consistently better, great grammer
