(01-31-2019, 02:44 PM)The Real Marty Wrote:

(01-31-2019, 11:27 AM)MalabarJag Wrote: No, the claim by some supporters was that the effect of tax cuts would cover the loss in tax revenue from the cuts. Since there was not a revenue drop, that was true. The main purpose of the corporate tax cuts was to slow or stop the bleeding of industries moving to other countries, and had nothing to do with revenue. Because of that it was a worthwhile decision even if it caused a decrease in revenue. Corporations that moved to (say) Ireland would pay ZERO corporate taxes to the US government.

Note that many left wing economists (as well as the Congressional Budget Office) predicted that the tax cuts would hurt revenue. They were wrong.

If you go look up what Trump promised, and what his people (Mnuchin, Kudlow) said, they said the tax cuts would reduce the deficit and even pay down the debt.   Instead, the deficit has skyrocketed.  That's a fact.

Did they say instantly or do you want to let his first term play out? You are barking up the wrong tree.

The tax cuts worked as advertised and increased growth which normally reduces the deficit. That economic growth can't solve the issue if Congressional spending outpaces it. The tax cuts are not the issue here and have nearly paid for themselves at this point.

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