Record deficits yield talks of more tax cuts

The architects of the  134 Billion Dollar deficit in October  and 1 trillion dollar annual deficit are talking about another round of tax cuts.    This time they really are going to aim for the middle class.  No, really.    Its not a joke this time, I promise.

Early conversations have floated a 15% middle class tax bracket   as well as cheaper capital gains.    And this is coupled with the president actively bullying the FED to push for negative interest rates.

Ain't Larry Kudlow great?   I hope he's with us for another Republican Administration.   There's plenty of room between 15% and zero.    Just think of all the tax cuts we can get going forward !

This highlights the dangers of having the person in charge not having the slightest idea of what he's doing.

Negative interest rates would be an economic disaster. There is precedent for this. It would strongly discourage investment and saving. Why would anyone put money in a savings account or buy federal bonds if doing so would cause their investments to shrink in value? It would be safer to put it all under the mattress! And why would anyone loan money to anyone else if they would get LESS money back when the loan was due?

This is just a naked attempt by Trump and his Republican lackeys to bribe the middle class into voting for them. Vote for us and you won't have to pay any taxes! How will we pay for everything? Don't worry, we'll get rid of Social Security and Medicare. (We're still gonna build that bigly wall.)

Another salvo from the party of fiscal responsibility! What a joke these hypocritical cretins are!

(Cue a Trumper bleat about Hillary sending emails or some other such dog crap.)

Kudlow has been masterminding  this same policy for 3 different presidents - all resulting in the same impact on the budget.      And Republicans keep putting him up on their shoulders.   

This is not a problem limited to Donald Trump.   

Yes, but when Trump appointed him in 2018, he immediately started spouting such statements as that the Congressional Budget Office was untrustworthy and that Trump's $1.3 trillion deficit was all being paid for by increased revenues.

He's lied over and over in the past, for example saying that Obama's stimulus package was all additional spending. This is the first time in his career that he's been hired to be a professional liar, though.

This is the guy who determines my and your economic well-being! Recession ho! Thank you, O Orange One!

PJ, was it too much spending or too little taxes..............since tax revenues have increase since the tax cuts?

It's not about the gross amount of revenues, it's about the net. A budget deficit or surplus is the result, just like a profit or loss for a business.

Regardless of the gross amount of tax revenues, the simple fact is that the taxes collected are failing to pay for the functions of government, and that failure is currently massive and historic.

What taxes are you talking about?  Mine?  You're right - Like most AMericans I didn't get much of any tax cut.  Just alot of reshuffling.   So I doubt I'm adding to the deficit.

Corporations did get massive tax cuts.   And COrporate revenues are massively down.   

Good thing we have those Socialist tariffs to help fill in the gap, though.

My taxes went up by $2,000 this year even though my income was $150 less than last year. I'm comforted by the thought that maybe that extra money went to buy some billionaire a gold-plated toilet seat.

PJ, are total tax revenues up or down under Trump?  Please tell me that you don't know.

How about reducing expenses?