(11-16-2024, 10:24 PM)copycat Wrote:

(11-16-2024, 09:29 PM)mikesez Wrote: It is debt as share of GDP. 
Revenue as share of GDP went down after Trump's tax cuts even though revenue in absolute dollars went up. Spending as share of GDP went up as predicted due to the continuing aging of our population. Therefore debt as share of GDP went up significantly after Trump's tax cuts.

Sounds like voodoo economics.  1.  Did the amount of money stol…err collected from the US taxpayers go up or down?  2. Did the amount of money the government spend go up or down?   Sometimes the answers are quite simple.

(11-16-2024, 11:41 PM)Jag149 Wrote:

(11-16-2024, 09:50 PM)mikesez Wrote: Wrong.

LOL. You are mistaken. Yes it did they even referenced it on CNBC a couple weeks ago. At the end of the Obama term we were running  1% GNP,we had a sluggish economy. We had one of the highest corporate tax rate in the world st 35%. Our multinational companies were keeping their capital overseas and expanding where the rates were lower.  He cut rates to 21%, capital flowed into the country our GNP averaged 2.6% Voila !  More GNP more taxes.

Now reducing it further? To have an opinion I would need to do some thinking. Neither Obama of Biden have ever been in the business world.

The results were great for the people as well

Obama
GDP growth: 1.0%
Poverty rate: 14.00%
Real disposable income per capita: $42,914

Trump
GDP growth: 2.6% - increased 1.6%
Poverty rate: 11.90% - reduced 2.1%
Real disposable income per capita: $48,286

Biden
GDP growth: 2.6% - same
Poverty rate: 12.80% - increased
Real disposable income per capita: $46,682 - fell