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Amazing reaction to tax announcement
On Thu, 27 Apr 2017 07:45:26 -0400, "Mr. Luddite"
wrote: On 4/26/2017 8:26 PM, wrote: On Wed, 26 Apr 2017 16:12:20 -0400, "Mr. Luddite" wrote: His Treasury guy (forget his name) claims the new tax rates will produce something like 5 Trillion in revenues over 5 years. It's a start. $5T more? What growth rate does that depend on? It is like Clinton's "surplus" based on the internet boom going on forever and it crashed in 2000? We never even had a real surplus for a quarter. The deficit never actually went away and the debt continued to grow. Clinton's "surplus" was the excess Social Security revenues that were turned over to the general fund. That has been true since FY69 and we still have never had a dime left over to reduce the debt. In fact the excess SS revenue was in the general fund since LBJ put it "on budget" in 68 69 was just the first full year that it actually mattered and Nixon showed a surplus on paper that year. It did not take long for extra spending to gobble up that money. War is expensive. |
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