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Thread: Impressed by Trump administration

  1. #1801
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    Quote Originally Posted by sleeper View Post
    Increase taxes on the wealthy and cut defense spending.

    Problem solved.
    https://fred.stlouisfed.org/series/FYFRGDA188S

    Proves your first statement wrong, regardless of tax rates on rich over the last 7 or 8 decades, the tax revenue as a percentage of GDP has been relatively constant, between 15-20% depending on recession timing.

    It is our spending that is out of control, your second statement is obviously part of that, as well as the other 2 major entitlement programs.

    https://fred.stlouisfed.org/series/FYONGDA188S

    You can't consistently take in 15-20% and spend 20+% of GDP.

    History shows us that almost regardless of tax rates that we consistently take in the same percent of GDP, we can control the spending though while we don't.

  2. #1802
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    Quote Originally Posted by jmog View Post
    History shows us that almost regardless of tax rates that we consistently take in the same percent of GDP, we can control the spending though while we don't.
    Yep. And regardless of debate about "trickle down economics" (which has become a rather deliberate perjorative), taxes DEFINITELY do "trickle down".

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