We like 29% larger capital stock, 6.5% higher wages, 11.5% GDP Growth, 5.3M more jobs, and more take home pay.
I think some strategists believe a lot of high income earners are using loop holes in tax code to circumvent paying the higher taxes. If you simplify code and eliminate these loop holes, the rich would be more inclined to claim their income. The more infusion of claimed income will have a higher amount taxed. I think bringing in the estimated 2.5 trillion would add a $250 bill in tax revenue, but more importantly, that money would be reinvested in a country that has a lower corporate tax on business than any other country, generating more jobs that won't be taxed until they reach the 50k mark.
Thats part of my same article, where the conclusion of all the key objectives is that Trumps plan will add 10 trillion to the deficit. I thought the conclusion was much more important....... according to this taxorg group Rand Paul's plan is the cheapest Republican plan, only costing use around 3trillion.
When I say, "Nice find!" I am referring to what he found from the article. I didn't catch that. The conclusion of that article says there would be a large deficit unless we can budget costs down. Do you think Trump, Carl Icahn and probably a few other high profile businessmen won't be able to trim the fat?
Where do you propose we make 10 trillion of cuts? "major entitlements?" Those are necessary services to a huge portion of the population, who are only expecting a 1% after tax income improvement with this plan.
10 trillion in cuts? That is for the next decade (1T average per year) right? I think just trimming the fat on existing policies could do it.
So, according to your charts, discretionary spending is about $1.1T/year. You think 'just trimming the fat' will remove $1T of that? Please elaborate! barfo
Just at quick glance of last year, you can trim a shit ton right off of Healthcare (200-400). I think another good start is fire a lot of bureaucrats that aren't doing their job efficiently and hire ones that can. Micromanage where exactly all the spending is going, where to, how much, etc. Our country has spent less with the exact same population.
That's not good enough, Mags. You have to find $1T of spending that you want to eliminate. Otherwise, you are advocating for increasing the deficit & debt. Also, I don't know what you mean by "Our country has spent less with the exact same population." The population has been increasing, we've never had this large a population before. barfo
Not by much http://www.census.gov/popclock/ Today, 321 mil. One year ago, we by 318 million. 5 years ago, it was 309. It's not growing as much as you think, especially when the GDP growth took a hit. What, aren't we like a 1.8% GDP average? That won't sustain the amount of growth we have will it. And the 10 trillion they talk about is average on a per year basis. 1 trillion a year ago is much less than the value of 1 trillion 10 years ago. So we may have deficit in the first couple years, but if we can get a 6% growth in GDP, 1 trillion won't be nearly as much. I will try and look for the economist that broke down 1% increase or decrease amounts to 2% jobs. The GDP growth average right now is 1.8%, which means we created 3.6 million jobs. What it doesn't tell you is that our population increased 3 million, leaving only 600k available for the ones without work. This is not sustainable and will create a backwards trend. We need a 3-4% to sustain the population growth.
Yeah, let's not worry about running a deficit Funny how that doesn't matter so much when it's your guy proposing it. Tell me, when was the last time the US had 6% GDP growth for a decade? barfo
It has never grown at that rate in a full decade, but 1984, it had a GDP growth of 6.8% and 20 million new jobs came from that growth. You just need a spike like that and a level off of 3.5-4% and you'll be fine. As for the deficit.... Obama hasn't once worried about the deficit for the entire time in office. He's still spending 850 billion more than we take in. One year I believe it was a 1.3 trillion deficit in 2010 and 2011. Obama had a 1.1 tril deficit in 2010
So if I have this right then you actually need to cut 2 trillion from current spending to balance the budget. One to get us back in the black and another one to get us to Trump tax and spending levels?
