• Senate Republicans weigh tax cuts, deficit expansion
    8 replies, posted
[QUOTE]WASHINGTON (Reuters) - U.S. Senate Republicans have reached a tentative budget deal that could allow tax reform legislation to eliminate as much as $1.5 trillion in revenues over 10 years through tax cuts, raising the odds that their planned tax overhaul would expand the federal deficit. Two members of the Senate Budget Committee, Republicans Pat Toomey and Bob Corker, announced the formal agreement late on Tuesday, but their joint news release did not provide dollar figures for revenue reduction or tax cuts. The prospective tax cuts are part of closed-door talks among 12 Senate Budget Committee Republicans who are drafting a fiscal 2018 budget measure needed to help the 100-member Senate pass a tax overhaul with as few as 51 Republicans votes and prevent Democrats from blocking the legislation. The U.S. economy is in a steady expansion and stock markets are rising. But the tax cuts being weighed by congressional Republicans, with encouragement from President Donald Trump, are on a scale normally reserved for times of economic hardship and intended to drive annual economic growth above 3 percent. [/QUOTE] [URL="http://www.reuters.com/article/us-usa-tax/senate-republicans-weigh-tax-cuts-deficit-expansion-idUSKCN1BU2R6?utm_campaign=trueAnthem%3A+Trending+Content&utm_content=59c1d63104d3014b6abea8b9&utm_medium=trueAnthem&utm_source=facebook"]Reuters.[/URL]
Draining the swamp by giving the rich a $1.5 trillion tax cut that goes straight to adding to the deficit. The way they're spinning it as revenue neutral is that they expect the economy is going to grow by unprecedentedly insane numbers if we [I]just give the rich another gigantic tax cut[/I]. I hope Trump voters are fucking happy.
conservatives know no hypocrisy they enshrine it as an ideology
Holy fucking shit they're a full-on parody of themselves. Make a huge deal over the deficit when someone suggests helping the poor, but willing to expand the deficit in order to give the rich more money. This isn't even funny anymore, this is just sinful.
Don't worry guys, I'm sure that $1.5 trillion will trickle down [I]any day now[/I]... ...Yup... Aaaany day now...
With this and the slow speed of the fed's rate hikes, we're going to have like no maneuvering room if a recession hits lmao.
They're the party of fiscal responsibility
Who's ready for Recession 2: Electric Boogaloo? And the idiots in my state thought it would be a good idea to reelect Toomey. Morons.
Why do I get the feeling that with Republicans this is going to be supply-side in nature? Low capacity utilisation and high unemployment couldn't possibly indicate a demand constraint, could it? :s: [QUOTE=thelurker1234;52703073]With this and the slow speed of the fed's rate hikes, we're going to have like no maneuvering room if a recession hits lmao.[/QUOTE] There's always manoeuvring room if there's federal political will for it
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