We all knew Mike Rounds and the GOP were lying to us when they said their 2017 tax cuts for the rich would supercharge the economy and pay for themselves. The latest evidence of their donor-serving lies comes from the Treasury Department, which released data Friday showing federal revenues shrank in 2019:
…in 2017, the nonpartisan Congressional Budget Office projected that fiscal 2019 revenues, without the tax cuts, would be $3.69 trillion. Instead, revenues with the tax cuts were only $3.46 trillion.
To be certain, the difference, $225 billion, cannot be attributed solely to the tax cuts. Other economic factors have influenced economic growth over the past two years. For example, the tariffs put in place as part of Trump’s trade wars likely counteracted the stimulative effect of the tax cuts [Nihal Krishan, “Two Years in, Trump Tax Cuts No on Course to Pay for Themselves,” Washington Examiner, 2019.10.26].
Please spare me your surprise:
The Joint Committee on Taxation, a nonpartisan group of experts that provides tax estimates for Congress… also estimated, though, that the tax law would not pay for itself. It reckoned that the tax cuts would add about $1.5 trillion to deficits over the course of a decade. Friday’s data suggest that tax revenues are coming in roughly in line with those projections, not living up to the much more optimistic picture painted by Republicans at the time of passage, which would require tax receipts to surge [Krishan, 2019.10.26].
Lying to the American people about your primary policy achievement—that’s reason all by itself to vote you out in 2020, isn’t it, Senator Rounds?
Well, as that tax cut didn’t work, EB5 Rounds and Stretch must have another, even bigger one. Yeah, that’s the ticket. What they will try to do is put Chubby’s impeachment thingy on the back burner.
But dear Sen. Roundly and his lying GOP pals are hard at work suppressing even more votes to keep their corrupt a$$es in office.
“College students have begun voting in force. Their turnout in the 2018 midterms — 40.3% of 10 million students tracked by Tufts University’s Institute for Democracy & Higher Education — was more than double the rate in the 2014 midterms, easily exceeding an already robust increase in national turnout. Energized by issues like climate change and the Trump presidency, students have suddenly emerged as a potentially crucial voting bloc in the 2020 election.
“In a March poll by the Institute of Politics at Harvard University’s Kennedy School of Government, 45% of college students aged 18-24 identified as Democrats, compared to 29% who called themselves independents and 24% Republicans.
“Republican politicians around the country are throwing up roadblocks between students and voting booths.”
Article is from the NY Times, reprinted in the Strib
http://strib.mn/2qHvZMm
They’ve done so in Texas, New Hampshire, Florida and Wisconsin. It’s clear that the GOP is anti democracy and needs to be removed from any positions of authority in the United States.
Insane and continuous claims that lower taxes = higher tax revenue is perfectly reflective of #MentalHealthCrisis across rural America.
No wonder John Deer won’t let them work on their own tractors anymore. They can’t do basic math and the trade war experiment they just tried proves they are their own worst enemy.
Mike Rounds just tells them what they want to believe. “Up is down” and “smaller is bigger” really sells out in rural America, and that’s why Democrats can’t get elected out here.
Tax cuts will pay for themselves, what a joke these three are in congress. They are only for the upper class.No minimum wage, no only middle class tax cut.Slick Mike and photo op Thune only for the rich.Dusty does not have a clue.
OT….. longtime michigan Democratic Congressman John Conyers passes away at age 90. Two big losses of black statesmen in a short few days. RIP
That’s sad Mike.
On the other hand, a Black woman now holds the Newt’s old seat in Georgia. Karen Handel, wingnutty, conceded and was decent about it. It’s the seat that Tom Grifter Price held before White Walrus appointed him as Secretary to Destroy whatever. Price’s grifting got so bad he had to resign. Handel won a close special election to his seat, but lost this one.
New Congresswoman McBath got into politics after her son was gunned down while enjoying an ice cream cone. Although she was outspent $5-1, Georgia’s blue turn continues.
Wannabe authoritarians do not take power in good times! Expect the most violent election of our lifetimes. We have just started to see the “killing fields” of Trump.
From the Borowitz Report:
“Kremlin names trump Employee of the Month.”
Was Al-Baghdadi part of a trade? Pootie and Erdogan gave him to Dopey Diplomat for Syria and the Kurds.
Gary Kasparov thinks that was the deal. Pootie and Erdogan got what they wanted and Dopey Diplomat got a sop for his insatiable ego.
The USA got squat.
Not so fast, the Russian military is denying this even happened as they say no one entered their airspace in Syria. Looks like another “Apprentice” knock off.
Pootie is slapping his Puppet’s hand. Or butt.
I just posted this on the old blog of “Dusty Johnson” but you guys need to see it here as well. Before the subject is forgotten.
You tube vid: https://www.youtube.com/watch?v=L9hPwbc8JZo
Educate yourselves from a source other than the propaganda machine!
Clyde, why do the Syrian people, the ones who escaped and came to Minneapolis, disagree with the “reporter” in your video? Why do the Kurds, the ones who escaped Syrian attacks, and came to Fargo, disagree with the “reporter” in your video?
Wait. They’re all lying and the white woman is the only one telling the “truth.” Is that your story?
Me just feel IF tax rates were low enough it would increase tax revenue. Reducing all taxes to something like 0.1% would DEFINITELY balance the budget [over the course of 100 years], but these full percentage tax rates, today, are DESTROYING private enterprise.
This is one of the fundamental reasons why Democrats can’t get elected in places like South Dakota. They just don’t ‘get’ it. ‘Big’ IS ‘small’!
Why is that so hard to understand?!
How DUMB do you have to be NOT to get that?!
Conservatives are so effing effed, in the brain, they have no idea how retarded what they believe truly is.
The word, “retard“ has meant many things in the past, but to younger folks, today, it just means ‘conservative.’
”‘Lower’ IS ’bigger,’ you silly liberals. Why can’t The Left, ever, understand that?!” -they whine
In the long run, idiots are losers. Let them loose.
A wise man once said, ‘Don’t ever get in the way of your enemy’s self-destruction. It can be very tempting – to hurry their inevitable demise – but it is more likely to slow down the process and needlessly waste your own resources.’ – – or something to that effect
Until then, “SMALLER TAXES EQUALS BIGGER REVENUE… YAWL!!!“ and, “FISCAL CONSERVATISM… WEE HOO!!!”
A retard is as a retard does, and just look at them – ALL of them! Just at least recognize it! For God’s sake!
6 of the 11 Navy super carriers are not fit for sea duty. For all the math deficient Republicans reading this, that number is more than half. Chubby and his republican crooks blew up the economy with the tax cut and now there is no money to make the military even sea worthy. It will take Democrats to replace these outlaws to make the American military great again.
“WASHINGTON: When the aircraft carrier USS Harry S. Truman missed a planned deployment last month after suffering major electrical problems, the only East Coast-based carrier currently capable of deploying was forced to head back to the dock.
As the Navy scrambles to get the Truman out to sea, it is pulling material and work crews from two other carriers undergoing their own long-planned refit and repair availabilities, though Navy officials say they don’t expect the Truman’s problems to affect those other repair efforts. As it sits pier-side in Norfolk, the Truman has plenty of company, joining an already crowded Norfolk waterfront where six of the Navy’s 11 carriers are currently tied up. At the time we’re going to print that means not one of the six carriers based in Norfolk are ready to be deployed.”
So then, Navy seaman lose out on training and effectiveness while the 1 percent enjoy their pockets being filled. Putin is so proud of republican leadership taking care of his business.
Chubby’s recession is already here, thanks to the tax cuts, tariffs and trade wars. Dump those chumps and let’s get this place called America turned around.
“The US manufacturing economy is in recession, after two successive quarterly declines in the Federal Reserve’s Industrial Production Index. The Purchasing Managers Indices tabulated by the Institute for Supply Management and the business data provider Markit show the lowest reading in roughly a decade. Manufacturing stocks improved in October, with the S&P’s Industrials index gaining 4.1% in October vs. a 3.5% gain in the broad index, on expectations that manufacturing is about to turn around.
The most recent data suggest that although manufacturing has stopped falling, recovery remains elusive. Manufacturing indices compiled by some of the regional Federal Reserve banks tend to anticipate the widely-followed purchasing managers’ reports, and the latest readings from the regional Fed banks are weaker than expected. The most forward-looking indicators available predict no improvement in manufacturing through the rest of the year.”
Amazing that you could take a perfectly fine economy and drive it into the ditch. Congratulations Republicans, you’ve put us in a fine mess.
Drumpf’s promise to eliminate debt in 8 years is a spectacular failure. Debt has risen 3 trillion since the orange awful offal was installed in the kremlin annex. And no end in sight.
Deficit is going to exceed a trillion bucks this year after Obama brought it down.
“Fiscal Conservative” is an oxymoron.