CBO analysis of new tax bill, $100k+ earner gets big cuts, poorer earner will tax more after bill

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yllus

Elite Member & Lifer
Aug 20, 2000
20,577
432
126
I guess I'm going to buy US index funds and hold for what, a year? How long exactly until this destroys your middle class?
 
Nov 30, 2006
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The level of flip-flopping is not even remotely close to 'both sides' and I'm very certain you know this.

The right spent the last eight years lying about how they cared about the debt. It's important that we all remember this next time they try to lie about caring about the debt. This sort of nonsense is just enabling their bad behavior.

Only 4 years worth of Obama. (I'll try to find the complete 8 year impact of his tenure)


I don't recall you complaining about Obama's drunken sailor spending, in fact I seem to recall that you thought he didn't spend near enough stimulus money.

http://money.cnn.com/2010/12/20/news/economy/total_stimulus_cost/index.htm
Stimulus price tag: $2.8 trillion

And you might want to read the following in your spare time to refresh your incredibly short memory.
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
U.S. Debt by President: By Dollar and Percent
Why the Winner Is...Barack Obama
 
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fskimospy

Elite Member
Mar 10, 2006
84,775
49,434
136
And you might want to read the following in your spare time to refresh your incredibly short memory.
https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296
U.S. Debt by President: By Dollar and Percent
Why the Winner Is...Barack Obama

I'm not sure what possible relevance you think this has to what I'm saying? Republicans are the ones who are always saying what a horrible thing debt is, not Democrats. It just turns out that Republicans only think debt is a bad thing when it's helping poor people. It's just nice to see Republicans outed as the total liars that they are.
 
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K1052

Elite Member
Aug 21, 2003
46,831
34,770
136
^Wasn't that amount of spending also due to a very deep recession? And bailouts for poorly regulated industries?

And the extension of the Bush tax cuts, which Republicans demanded. Are Republicans now against the Bush tax cuts and the extension they wanted?
 
Reactions: DarthKyrie
Jan 25, 2011
16,634
8,778
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Oh man. Dems just received a list of the amendments. not from the GOP. From lobbyists. They had to get it from fucking lobbyists.

 
Nov 30, 2006
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I'm not sure what possible relevance you think this has to what I'm saying? Republicans are the ones who are always saying what a horrible thing debt is, not Democrats. It just turns out that Republicans only think debt is a bad thing when it's helping poor people. It's just nice to see Republicans outed as the total liars that they are.
And it turns out that Democrats think debt is a bad thing when it's Republican debt. Imagine that!
 

fskimospy

Elite Member
Mar 10, 2006
84,775
49,434
136
And it turns out that Democrats think debt is a bad thing when it's Republican debt.

Yes, Democrats think that debt is bad when it's used to give money to rich people. We already established that. Republicans have never made these caveats though, they said debt was bad... period. This turned out to be a giant lie, shockingly enough. I'm sure you agree it's important not to let them get away with these lies, right?
 

[DHT]Osiris

Lifer
Dec 15, 2015
14,608
12,733
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And it turns out that Democrats think debt is a bad thing when it's Republican debt. Imagine that!
I think the idea is debt is a terrible idea during times of economic downturn, and debt is a good idea during times of economic upturn. Having said that, sometimes incurring debt to stimulate the economy is necessary, see the 08-12 recession timeframe.

Note: It helps your case when the debt you incur isn't just going into the coffers of the rich, and giving tax breaks for shit like private jets.

Also: It's good to not simply whitewash 'all debt bad murr!' when you might have to actually incur a shitload of debt within 4 years, because it makes you look like a hypocritical jackass (party irrelevant).
 

K1052

Elite Member
Aug 21, 2003
46,831
34,770
136
Oh man. Dems just received a list of the amendments. not from the GOP. From lobbyists. They had to get it from fucking lobbyists.

To be fair who do you think wrote most of the amendments for them?

Voting on an unseen bill that didn't get a hearing or a markup in present form and that doesn't have a current score is a pretty amazing display of hypocrisy from a group of people who complained endlessly for years about the ACA passage. Comparatively the ACA passage was a paragon of legislative procedural integrity.
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
And it turns out that Democrats think debt is a bad thing when it's Republican debt. Imagine that!

Deficits were too high and were on the way down (nevermind we had a near 100 year recession). Economy was improving and deficits were going down. GOP threw a fit about it and demanded the deficits to be cut. GOP gets in power and now don't give a shit about the deficit and cut taxes with cutting of spending. Start chatter about 'Entitlement Reform' (code word - cut entitlements) because deficit is too high. If they want to run the deficit up, fine but don't turn around and bitch about it and then start the SS/Medicare cut bullshit.

And if you think that the dems are anywhere near as bad as the GOP when it comes to the double standard of deficits are bad only when the other guy is in power, you're full of shit.
 
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Engineer

Elite Member
Oct 9, 1999
39,234
701
126
To be fair who do you think wrote most of the amendments for them?

Voting on an unseen bill that didn't get a hearing or a markup in present form and that doesn't have a current score is a pretty amazing display of hypocrisy from a group of people who complained endlessly for years about the ACA passage. Comparatively the ACA passage was a paragon of legislative procedural integrity.

So does this pass the reconciliation test or not? If not, how can they vote on it?
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
I think the idea is debt is a terrible idea during times of economic downturn, and debt is a good idea during times of economic upturn. Having said that, sometimes incurring debt to stimulate the economy is necessary, see the 08-12 recession timeframe.

As you said, having debt during economic down times makes sense to stimulate the economy. Rising debt during economic good times? Not sure of the justification other than to later try to cut something else out (i.e. Entitlements, etc - Paul Ryan's wet dream).
 

K1052

Elite Member
Aug 21, 2003
46,831
34,770
136
So does this pass the reconciliation test or not? If not, how can they vote on it?

Yes, still does as long as they arguably stay under the budget window (1.5T) which I think they have.
 

[DHT]Osiris

Lifer
Dec 15, 2015
14,608
12,733
146
As you said, having debt during economic down times makes sense to stimulate the economy. Rising debt during economic good times? Not sure of the justification other than to later try to cut something else out (i.e. Entitlements, etc - Paul Ryan's wet dream).
Sorry, to clarify, isn't the idea to spend more when times are good across the nation, in order to take advantage of the momentum? Or are you supposed to restrict spending to nestegg/pay down debts during that timeframe? I thought curtailing spending stifled growth.
 

kage69

Lifer
Jul 17, 2003
28,019
38,496
136
Probably going to happen now.

Too bad. I guess Americans just need another painful lesson in why trickle down doesn't work.

Sorry kids, elderly and students. The 1% needs to redecorate some private jets, maybe upgrade a few vacation homes. But good luck with student debt, diabetes, etc.
 
Reactions: DarthKyrie
Nov 30, 2006
15,456
389
121
Deficits were too high and were on the way down (nevermind we had a near 100 year recession). Economy was improving and deficits were going down. GOP threw a fit about it and demanded the deficits to be cut. GOP gets in power and now don't give a shit about the deficit and cut taxes with cutting of spending. Start chatter about 'Entitlement Reform' (code word - cut entitlements) because deficit is too high. If they want to run the deficit up, fine but don't turn around and bitch about it and then start the SS/Medicare cut bullshit.

And if you think that the dems are anywhere near as bad as the GOP when it comes to the double standard of deficits are bad only when the other guy is in power, you're full of shit.
It always boils down to rationalization...one has to shove a handful of their own liberal shit in front of their face before they reluctantly admit 'yeah we shit' but then immediately rationalize it away by saying 'but your shit stinks worse'. Both parties are hypocritical as hell and this kind of horseshit rationalization is lost on me.
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
Sorry, to clarify, isn't the idea to spend more when times are good across the nation, in order to take advantage of the momentum? Or are you supposed to restrict spending to nestegg/pay down debts during that timeframe? I thought curtailing spending stifled growth.

But we're not curtailing spending at this point, just increasing stimulus and to be honest, we'll see how much of that stimulus trickles down. We're adding debt by cutting taxes, not cutting spending.

I want my $4,000 household income increase (my boss laughed his ass off when I told him that).
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
It always boils down to rationalization...one has to shove a handful of their liberal shit in front of their face before they finally reluctantly admit 'yeah we shit' but then immediately rationalize it by saying 'but your shit stinks worse'. Both parties are hypocritical as hell and this kind of horseshit rationalization is lost on me.

Fair enough. I'll go on record that I've come to the conclusion that deficits and debt don't matter. Neither side gives a shit about the deficit when they are in power so why should I. As a matter of fact, I hope that I can get even more of my money back. I've become a CEO...of me....and it's my duty to get as much of my money back as I can, and that includes keeping those bastard's hands off of MY entitlements that I've spent my working life paying into.
 
Reactions: DarthKyrie
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