Message from @Neco2040

Discord ID: 543173410318975006


2019-02-07 20:53:02 UTC  

It inflates the market because they are buying stock...

2019-02-07 20:53:14 UTC  

Buying stock does not "inflate" the market

2019-02-07 20:53:39 UTC  

Tax cuts causing a recession is completely irrational, giving more money to the people is much better than the central planning of the government. The economy is the people, the only people who know the demands of the people are, the people.

2019-02-07 20:53:40 UTC  

I think it's better if we talk about one thing at a time

2019-02-07 20:53:49 UTC  

So tax cuts causing recessions is irrational.

2019-02-07 20:54:11 UTC  

Consumers do not cause recessions.

2019-02-07 20:55:23 UTC  

Reagan exploded the deficit after cutting taxes, then Clinton balanced the budget, then Bush cut taxes and the deficit went up again, then Obama cut the deficit, and now the deficit is up after the Trump tax cuts

2019-02-07 20:55:33 UTC  

Clinton cut taxes

2019-02-07 20:55:43 UTC  

He increased the top marginal tax rate

2019-02-07 20:55:46 UTC  

But we must see why the deficit went up

2019-02-07 20:55:46 UTC  

Spending

2019-02-07 20:55:53 UTC  

He cut a huge capital gains tax

2019-02-07 20:56:02 UTC  

he increased the standard deductions by a huge amount

2019-02-07 20:56:12 UTC  

he increased the amount for tax exemptions on property

2019-02-07 20:56:13 UTC  

and some others

2019-02-07 20:56:23 UTC  

Overall, he increased taxes on the rich

2019-02-07 20:56:24 UTC  

Bush tax cuts, revenue went up but spending also went uP

2019-02-07 20:56:33 UTC  

Considering he cut capital gains by 25%

2019-02-07 20:56:38 UTC  

And the effective tax rate went down

2019-02-07 20:56:44 UTC  

Not really.

2019-02-07 20:57:12 UTC  

Effective tax rate didn't go down

2019-02-07 20:57:17 UTC  

https://cdn.discordapp.com/attachments/418667927169138688/543173430124740628/Screen_Shot_2019-02-07_at_20.57.00.png

2019-02-07 20:57:28 UTC  

Hw Bush rose taxes actually

2019-02-07 20:57:29 UTC  

I'm talking on the rich btw, not people in general

2019-02-07 20:57:31 UTC  

Clinton did the opposite

2019-02-07 20:57:33 UTC  

Yes thats the rich

2019-02-07 20:57:37 UTC  

top 1% and 0.1%

2019-02-07 20:58:02 UTC  

Clinton didn't do the opposite, they both raised taxes

2019-02-07 20:58:03 UTC  

Obama added to the debt aswell, which is another problem.

2019-02-07 20:58:08 UTC  

But Obama did not increase taxes

2019-02-07 20:58:12 UTC  

Obama cut the deficit in half

2019-02-07 20:58:13 UTC  

Clearly not, when effective taxes fell

2019-02-07 20:58:19 UTC  

But he didn't increase taxes

2019-02-07 20:58:22 UTC  

he extended the Bush tax cuts

2019-02-07 20:58:32 UTC  

which is where your argument immediately falls apart

2019-02-07 20:58:35 UTC  

As revenue rose aswell

2019-02-07 20:58:45 UTC  

He increased the top marginal tax rate

2019-02-07 20:58:50 UTC  

No he didn't

2019-02-07 20:58:51 UTC  

He kept the middle class tax cuts

2019-02-07 20:58:53 UTC  

Yes, he did

2019-02-07 20:59:05 UTC  

The top marginal rate was increased from 35% to 39%