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CousinIT

(9,251 posts)
Sat Oct 26, 2019, 06:47 PM Oct 2019

Krugman on why Republican budget deficit is about $300 billion above what CBO projected.

Trump Tax Scam - Tax cuts for corprats & billionaires.



A note on the budget deficit, which is about $300 billion more than CBO was projecting in June 2017, before the Trump tax cut. The usual suspects will claim that it's about excessive spending. But here's where it actually came from 1/



It's the tax cuts, stupid 2/
29 replies = new reply since forum marked as read
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Krugman on why Republican budget deficit is about $300 billion above what CBO projected. (Original Post) CousinIT Oct 2019 OP
Happens every time... Wounded Bear Oct 2019 #1
It's a big problem when the president is black. No problem at all when he's orange. Doodley Oct 2019 #2
No. 1: The Republicans run the government into the ground before every Hortensis Oct 2019 #4
wish I could put your post on a post -- as a billboard, with lights, and sirens Hermit-The-Prog Oct 2019 #5
Yes, "Since Rotten Ronnie." 35 years past time to clue in. Hortensis Oct 2019 #7
outstanding florida08 Oct 2019 #6
Have to disagree. All of Trump's support is directly or indirectly based on racism and other bigotry Doodley Oct 2019 #9
Doodley, who'd the money go to? Hortensis Oct 2019 #10
Thanks for telling me what every good socialist already knows! Doodley Oct 2019 #17
But without racism, the Republican Party would cease to be viable. Garrett78 Oct 2019 #24
"The billionaire vote is less than 0.1%" PSPS Oct 2019 #13
Thanks. I had no idea about that! Doodley Oct 2019 #16
They intend to leave an empty, dried out husk not fooled Oct 2019 #12
Those behind this don't intend to be done in. Hortensis Oct 2019 #14
Well said. Evolve Dammit Oct 2019 #19
YEP Cosmocat Oct 2019 #20
The 2 santa clause's SlogginThroughIt Oct 2019 #25
Agree totally, but I do think they were bothered by Obama being POTUS while black. demigoddess Oct 2019 #26
Oh, no doubt of that also. Although Clinton was our first "black" prez. Hortensis Oct 2019 #29
Yep. "Deficits don't matter" Richard "DICK" B. Cheney Evolve Dammit Oct 2019 #18
That IS the "Economic Cycle" Perseus Oct 2019 #21
Krugman's history suggests he believes the exact opposite. Nt hughee99 Oct 2019 #23
All roads lead to Putin. alittlelark Oct 2019 #3
Tax cuts are a republican thing, they always do it, it started before Reagan, Bush, etc. Perseus Oct 2019 #22
That would be a serious problem in a Democratic administration. gibraltar72 Oct 2019 #8
Every recession/depression is Republican generated. rickyhall Oct 2019 #11
Quite clearly stated! MyOwnPeace Oct 2019 #15
Krugman is half right. roamer65 Oct 2019 #27
K&R for visibility crickets Oct 2019 #28

Hortensis

(58,785 posts)
4. No. 1: The Republicans run the government into the ground before every
Sat Oct 26, 2019, 07:18 PM
Oct 2019

transition to Democratic control, both that giant sucking sound revved up while they can, plus breaking the budget so there's no money to fulfill our plans to advance the nation's wellbeing.

2: They did that this time in case they lost control; however, the transfer has been of the nation's wealth AND power. They are trying to take permanent control of our nation, and this is the pattern they intend for the future.

Nothing to do with Obama's skin color. Everything to do with the new billionaire and centimillionaire classes that have grown up over the past 40 years becoming far too powerful for democracy.

"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both."

Nancy Pelosi to the nation at the opening of the 116th congress. This is what she meant.

Hermit-The-Prog

(33,379 posts)
5. wish I could put your post on a post -- as a billboard, with lights, and sirens
Sat Oct 26, 2019, 07:23 PM
Oct 2019

There are millions who still haven't caught on to the GOP scheme that has been repeated over and over since Rotten Ronnie.

Doodley

(9,103 posts)
9. Have to disagree. All of Trump's support is directly or indirectly based on racism and other bigotry
Sat Oct 26, 2019, 07:51 PM
Oct 2019

The billionaire vote is less than 0.1%

Hortensis

(58,785 posts)
10. Doodley, who'd the money go to?
Sat Oct 26, 2019, 07:55 PM
Oct 2019

Not to Trump's idiot voters. Racism's a ring in their noses, not diamonds on their fingers.

Speaking of the "tax scam," on TOP of all the rest of that, the Republicans also assigned ordinary taxpayers a $1.6 TRILLION debt, a transfer of wealth to that 0.1%, but actually almost all to the 0.01%. The third of our ten annual payments will be "PAYGO"ed to them in just a couple of months.

Garrett78

(10,721 posts)
24. But without racism, the Republican Party would cease to be viable.
Sun Oct 27, 2019, 02:38 PM
Oct 2019

Racism is the primary tool in their tool belt.

As I wrote recently:

Barr, Bannon, Mulvaney, Pompeo and many others have a goal of undermining faith in government and undermining all democratic institutions. The Republican Party has been trying for decades, with quite a bit of success, to undermine faith in government. Run up debt so as to cut entitlements, have corporations write legislation, deregulate industry, install heads of departments whose mission it is to erode those very departments, deny the stark reality that past and present injustice is not evenly distributed, etc.

Since the likes of Putin also wish to undermine democratic institutions for the purpose of self-enrichment, Putin and Republicans make for interesting bedfellows.

This is a war of ideologies: we vs. me. "It takes a village" vs. "every person for themselves" (cheating permitted...nay, encouraged). The likes of Barr, Bannon, Pompeo et al. are especially dangerous--they're white nationalists, isolationists and despise secularization.

They've seen the writing on the wall (social progression, increased secularism, changing demographics, etc.), so their tactics have become increasingly extreme in recent years (intense voter suppression and gerrymandering, full-throated attacks on science and public education, persistent attacks on the "liberal media" to help shift the Overton Window, stealing a Supreme Court seat and packing the judiciary with right wing ideologues, aligning with dictators who share the goal of undermining democracy for personal enrichment, replacing the dog whistle with a bullhorn, and so on). They take comfort, though, in a tyranny of the minority system which, paradoxically, makes major structural reform nearly impossible to bring about for the very reasons why such reform is so desperately needed.

Also, I always feel the need to mention the Powell Memo of the early 1970s, which served as a sort of blueprint for modern corporatocracy.

If this current cast of characters is still in power after 1/20/21, the damage wrought may be irreparable.

Trump didn't happen in a vacuum. He's a symptom of a much larger problem (to which the GOP as a whole is contributing). All will not be well simply by getting rid of Trump. At the same time, it's vital that we remove Trump from office as soon as possible, as he's an especially diseased carrier pigeon for the ideologues who are taking full advantage of his narcissistic appeal to the tens of millions of racists, sexists and xenophobes. I wonder if seeing the big picture (or being helped to see it) would dissuade even a fraction of Trump's soft support (the portion that approves of him but not strongly) from continuing to support him. Are 100% of his supporters really okay with the world Republicans are seeking to realize? If so, they'll regret it.

Lastly, we must continue to recognize that there is an undercurrent of white male supremacy that maintains the Republican Party (i.e., without that, the GOP would cease to be viable). There was a Black man in the presidency, and millions of people (including elected officials) are absolutely beside themselves. The fact that Obama won so easily and is so popular gnaws at them day and night.

PSPS

(13,604 posts)
13. "The billionaire vote is less than 0.1%"
Sat Oct 26, 2019, 08:06 PM
Oct 2019

If only! "Corporations are people, my friend." About 98% of all elections are won by the candidate who spends the most on TV advertising. That costs money. Big money. (This is why the media creates a horse race even if there is none.) The billionaires fund that advertising because they know they'll get back far more than their "contribution" via favorable policy (like the tax cut.)

It's true the rubes who support trump do so because "he hates the same people I do" and what they're told to do by the RW media Wurlitzer. But they have no money. The oligarchs do.

not fooled

(5,801 posts)
12. They intend to leave an empty, dried out husk
Sat Oct 26, 2019, 08:01 PM
Oct 2019

of a country to the rest of us, when the inevitable demographic shift finally does them in.


Hortensis

(58,785 posts)
14. Those behind this don't intend to be done in.
Sat Oct 26, 2019, 08:16 PM
Oct 2019

This has always been a plot of RW economic extremists who call themselves libertarians, signed onto by the Republican leadership.

On the plus side, it's looking like many of the wealthy families and business leaders who are not RW extremists, just riders of the gravy train, are concerned at what's happening and realizing that turning a nation of previously mostly contentedly prosperous workers and consumers into a nation of angry resistance, who could only to be controlled temporarily by ruthless authoritarian government, would be a horrible mistake.

Interestingly, the wealthy average more economically liberal than the electorate.

Hortensis

(58,785 posts)
29. Oh, no doubt of that also. Although Clinton was our first "black" prez.
Sun Oct 27, 2019, 07:45 PM
Oct 2019

Too much aggressive malice not to harness and target it.

And no one knew at that point that the real thing would be along so soon.

 

Perseus

(4,341 posts)
21. That IS the "Economic Cycle"
Sat Oct 26, 2019, 09:55 PM
Oct 2019

You never hear anyone talk about the "Economic Cycle" when we have a Democratic government, but we do when republicans take power because it is there way to con people into thinking that there is a cycle, the economy goes up, so because of that cycle, it must come down.
The real "Economic Cycle" goes like this:
1. Republicans take government - The Economy goes down
2. Democrats take government - The Economy goes up.
3. Republicans take government - The Economy goes down
4. Democrats take government - The Economy goes up.
5. Republicans take government - The Economy goes down
6. Democrats take government - The Economy goes up.
And it repeats over and over.

Republicans not only destroy the economy, they destroy everything in their paths in order to put money in their pockets, they are the most unpatriotic people a country can have.

alittlelark

(18,890 posts)
3. All roads lead to Putin.
Sat Oct 26, 2019, 07:14 PM
Oct 2019

He is likely making a fortune (again) telling his butt boy in the WH what to say in regards to trade agreements and making trades based on obvious, predictable market fluxuations.

The 'tax cuts' that have weakened our economy are a huge part of his plans.

 

Perseus

(4,341 posts)
22. Tax cuts are a republican thing, they always do it, it started before Reagan, Bush, etc.
Sat Oct 26, 2019, 10:00 PM
Oct 2019

Lets face it, republicans are crooks, they have understood there is a lot of money to be made from the people's contributions to the tax system, and they want it all. That is why they have been wanting to destroy public education and instead came out with the "Charter" school system where they can pocket a lot of money while weakening public education.

Putin is a lot of bad things, but the tax cuts have always been a republican thing. All they talk about is tax cuts during political campaigns, they con people into thinking they are going to benefit tremendously from those cuts to get people to vote for them.

People do not understand that a country needs taxes, money to provide social services, good education, health services, etc.

rickyhall

(4,889 posts)
11. Every recession/depression is Republican generated.
Sat Oct 26, 2019, 07:58 PM
Oct 2019

ie: they're stealing us blind into yet another recession. It's what they do.

roamer65

(36,745 posts)
27. Krugman is half right.
Sun Oct 27, 2019, 03:37 PM
Oct 2019

Tax cuts AND and a decelerating economy due to a trade war.

The two together will create a massive fiscal crisis that will morph into a currency crisis.

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