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Trump's tax cut would be smaller than Obama's, analysis says

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posted on Jan, 27 2018 @ 11:52 AM
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President Donald Trump wants his base to believe that his proposed tax cut is “the biggest ever in the history of this country,” and that his predecessor, President Obama, only raised taxes over his two terms in office. None of that is true. President Obama’s “American Taxpayer Relief Act,” signed in 2013, cemented a tax cut nearly two times larger than what Trump is proposing. Trump boasted about his tax cuts being the largest ever at least four times between May and October. Both White House Press Secretary Sarah Huckabee Sanders and Chief of Staff John Kelly have repeated the dishonest talking point. Trump's proposal would save Americans a maximum of $190 billion, according to a new analysis from the nonpartisan Committee for a Responsible Federal Budget. That sounds like a lot, but it's equivalent to about one percent of gross domestic product, the leading measure of our nation’s economic output. By that measure, Trump's cut would be the eighth largest since 1918. Obama's 2013 cut, at 1.8 percent of GDP, was the fourth largest over that period. It saved American taxpayers $321 billion per year.



I keep trying to tell the Trump cultists that his tax cut is no big thing and not unique.

Also, Obama’s stimulus package and tax cuts were bigger and better and helped bring the economy out of destruction.

Obama inherited a GOP economic disaster, Trump inherited an economy booming because of Obama's economics.

Also, Trump lies ( as usual) when he says his cut is the largest in history.

LINK
edit on 27-1-2018 by Willtell because: (no reason given)

edit on Sat Jan 27 2018 by Jbird because: converted all caps title




posted on Jan, 27 2018 @ 11:56 AM
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a reply to: Willtell

Tax cut measuring contest.


+6 more 
posted on Jan, 27 2018 @ 11:57 AM
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a reply to: Willtell

You got a link to your quoted material?

By what measure do you say that Trump inherited a booming economy?

Why do you call people Trump cultists? Are you trying to bait a response?



posted on Jan, 27 2018 @ 11:59 AM
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a reply to: seasonal

Someone somewhere compared sizes and concluded that Obama's was bigger.




posted on Jan, 27 2018 @ 12:02 PM
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And who *paid* for the "analysis" to be performed?

That's what will tell you the truth of the matter.



posted on Jan, 27 2018 @ 12:06 PM
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originally posted by: ausername
a reply to: seasonal

Someone somewhere compared sizes and concluded that Obama's was bigger.



Obama’s ? Not Michelle’s. Really? Are you certain?
edit on 27-1-2018 by whywhynot because: (no reason given)



posted on Jan, 27 2018 @ 12:06 PM
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a reply to: whywhynot

Sorry, I uploaded the link but it didn't take



posted on Jan, 27 2018 @ 12:08 PM
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The important thing is the long range affect this tax cut has on the macro economy.

The fact that a few companies here and there are giving their employees benefits is great.
They should have always done that and the fact that they had to be bribed to do this is an indication that we have to watch the economy and see the results before we make quick conclusions.


The reality is that a few big companies doing something right for a change doesn’t remotely measure what Trump’s tax cuts will do to the macro economy.


Also, this economy is still the Obama economy until maybe another year or so when the true measurement of Trump acts can be judged such as the affect on the deficit and macro economics such as demand and growth



posted on Jan, 27 2018 @ 12:08 PM
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Obama is old news, what matters now is that the country is finally heading in the right direction. You can sit here and try and debate how Obama was better than Trump and blah blah blah, but by the time Trump leaves office, I can almost assure you that he will have fixed a lot of the problems we currently face.

Sure the guy isn't perfect, but at least he seems to actually care about the people despite all of the fake news and baseless claims being thrown about.



posted on Jan, 27 2018 @ 12:10 PM
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a reply to: eXia7

Based on what ?

A few crumbs given to the people by a few big corporations.


We are at least a year or more away from whether we know " things are going in the right direction" as you say.



posted on Jan, 27 2018 @ 12:13 PM
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originally posted by: Willtell
a reply to: eXia7

Based on what ?

A few crumbs given to the people by a few big corporations.


We are at least a year or more away from whether we know " things are going in the right direction" as you say.


I don't see how you are making a comparison of 8 years of crushing debt, tons of wasted assets on useless failed green energy projects, all the pandering to illegals, etc etc.. To trumps single year in office. I don't really have all day to sit here and point out every flaw of Obama, even if I did, you'd just plug your ears. You'll never see past your left bias, you're the type to cut off your nose to spite your face.
edit on 1/27/2018 by eXia7 because: some grammar stuff


(post by Outlier13 removed for a manners violation)

posted on Jan, 27 2018 @ 12:18 PM
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a reply to: Willtell

I just checked. I got a tax break of effectively $0. So where was my 2013 tax break?


(post by Willtell removed for a manners violation)

posted on Jan, 27 2018 @ 12:20 PM
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a reply to: Willtell

Confidence soared after Trump's election. Sorry Obama didn't do that.



posted on Jan, 27 2018 @ 12:21 PM
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off-topic post removed to prevent thread-drift


 



posted on Jan, 27 2018 @ 12:22 PM
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a reply to: Willtell

Obamas tax cut was a continuation of the Bush tax cuts. It extended the Bush tax cuts through 2012 and unemployment benefits through 2011. So who's tax cuts was it exactly?? Oh and he later raises taxes and increases and revived the inheritance tax that had lapsed. Most of his cuts towards business were targeted tax cuts benefitting solar power.

So I'd really like to see who did this comparison because it was widely suspected Obama doing away with the Bush Tax cuts later prolonged the recession.



posted on Jan, 27 2018 @ 12:22 PM
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a reply to: Willtell

I just looked at my actual numbers. I made near identical money and paid near identical taxes and got near identical refund. Where's this huge tax break?



posted on Jan, 27 2018 @ 12:23 PM
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a reply to: Outlier13

The really funny thing is this Leftist propaganda hasn’t been working for them very well for a couple years now. And, they just keep it up because they just don’t see it nor do they have a plan “B”.

Just like in your case the Left can lie to you all day long but when the money goes into your pocket it just confirms to you that they lie and now everything they say becomes suspicious.

To make matters worse they talk about the crumbs that you receive. You know it the money is meaningful to you.

The Left is truly desperate now.



posted on Jan, 27 2018 @ 12:25 PM
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originally posted by: dragonridr
a reply to: Willtell

Obamas tax cut was a continuation of the Bush tax cuts. It extended the Bush tax cuts through 2012 and unemployment benefits through 2011. So who's tax cuts was it exactly?? Oh and he later raises taxes and increases and revived the inheritance tax that had lapsed. Most of his cuts towards business were targeted tax cuts benefitting solar power.

So I'd really like to see who did this comparison because it was widely suspected Obama doing away with the Bush Tax cuts later prolonged the recession.


If I were you I wouldn't even mention the name Bush in regards the economy.
Obama was still interested in stimulating the economy. Remember he inherited the Bush depression.




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