Trump vowed to eliminate debt in 8 years. He’s on track to leave it 50 percent higher

I guess making America great again doesn't come cheap right?

In March of 2016, then-candidate Donald Trump told The Washington Post he could eliminate the entire U.S. debt in eight years. Now that he’s president, Trump is doing the exact opposite.

Trump’s budget — his own budget — projects debt held by the public will hit $22.8 trillion by 2025, more than 50 percent higher than the year he took office. (Debt held by the public was $14.7 trillion in 2017.)

That’s the rosy forecast. Trump’s budget relies on “gimmicks” to keep the debt rising by “only” that much, experts across the political spectrum say. Trump predicts the economy will grow at a home-run pace with no recessions for the next decade, and he proposes massive cuts to education, health care and other nondefense parts of the budget that will not be enacted.

Source

Well at least he's making cuts somewhere you know? I mean what better way to pay for $2 trillion wealthy elite and corporate tax cuts than to gut programs that the middle and classes depend on? Not even NASA can escape. It's estimated that Trump's budget will see approximately $1 trillion deficits for the next 4 years so hey, cuts need to be made somewhere... well anywhere but the elite.

What can I say? It's trickle down economics folks. I mean Amazon didn't pay a single cent in federal taxes on $11.2 billion worth of profits last year alone. They doubled profits by the way, in part (I'm sure) thanks to the Trump tax cuts. Those Chinese Factory Workers must be working overtime am I right? Health Care Service Corporation skipped on federal taxes as well, paying exactly $0 last year as well. In fact, they got a $1.7 billion refund! I mean look, that huge gaping hole in tax revenue needs to be filled somehow and come on.... do you really expect DC to bite the hand that feeds them? No way Jose.

I suppose it's better than the 200% increase in debt held by the public that Obama presided over during his 8 years.
Would seem like a decent improvement.

a reply to: Southern Guardian

Ah yes, when playing 4d chess more is less, war is peace etc.

This is clearly liberal propaganda with fudged numbers and CNN talking points, you hack...

Trusting Donald Trump on economics is like trusting McDonald's on healthy food.

a reply to: hopenotfeariswhatweneed

Washington post talking points actually.

I would have to see Amazons tax return to see what they did to cover that much profit. I think that there are business deductions that would have brought it down to nothing. A business can put buildings on depreciation and take deductions for lots of things, if they expanded it is a write off. Stock holders get the profit from the corporation also, so someone is paying taxes. Lots of corporations show little net profit and the corporation pays no taxes. That is how corporations work, I was incorporated for a while, I paid no corporate taxes because the profits were paid to me so the corporation paid no taxes.

I won't accept the information in the thread without evidence, no tax was paid, that means no profit was retained by the corporeation, at twenty one percent, there would still be tax due if their were profits.

Sales is one thing, you also have net and gross profits. Not much explanation was done in the article, the supporting article was worthless in evaluating anything.

a reply to: Southern Guardian

Did you know that The Washington Post and Amazon are owned by the same guy?

I just found that funny is all.

a reply to: UKTruth

That’s a pretty deceptive post UK. The national debt clocked at $6 trillion when bush left and $12.8 trillion when Obama left. It’s a substantial increase but when we look at the numbers it pales in comparison to Trumps forecasted increase of $10+ trillion. Context is key here but I trust you already know that UK. I also trust you’re aware the GOP has held control of Congress 9 out of the last 10 years. You know? Congress? The national purse?

originally posted by: Bluntone22
a reply to: hopenotfeariswhatweneed

Washington post talking points actually.

Birds of a feather.

a reply to: Southern Guardian

Great points about those god dam corporate monsters, they are all at it, amassing vast wealth and paying less taxes than you or I, its the same in the UK with the G monster avoiding as usual (since the Fkin late 1980s)

The Double Irish is a base erosion and profit shifting ("BEPS") corporate tax tool, used mostly by U.S. multinationals since the late 1980s, to avoid corporate taxation on most non–U.S. profits.[a] It is the largest tax avoidance tool in history and by 2010, was shielding US$100 billion annually in U.S. multinational foreign profits from taxation

All while the general populous get to serve time behind bars or suffer a minimum of finacial penalties, which can bankrupt some people or cause loss of home, where is our tax avoidance scheme, oh whats that, we are just the slaves in this machine, we get to work for 40 years maybe get a decent pension, wonder if Jeff Bozo worries about turning the heating on in harsh winters.

a reply to: Cassi3l

Trump has never personally filed bankruptcy.

originally posted by: Southern Guardian
a reply to: UKTruth

Context is key here but I trust you already know that UK. I also trust you’re aware the GOP has held control of Congress 9 out of the last 10 years. You know? Congress? The national purse?

Seems like you're talking out of both sides of your face. Is it Trump or congress to blame? Why don't you decide and then come back to us with the answer.

a reply to: Bluntone22

Yes, he's relied on other people and laws to do it for him. Like every aspect of his life. It's easy when you can just throw money at people to fix all your problems.

a reply to: strongfp

No business owner is dumb enough to put their personal finances on the line to start a business. Trump is no different than anyone else on that front.

Do you look down on every American that has declared bankruptcy?

originally posted by: Cassi3l

Four times out of over 500.

Illogical meme for the illogical.

a reply to: Southern Guardian

So, what exactly do you expect will happen "if" a Democrat wins the presidency in 2020? You think that a Democrat president will improve the national debt? With nearly every Democratic candidate supporting Socialism and the "Green New Deal" economic stimulus program, this country's debt will soar like it never has before, making the current debt look like peanuts.

a reply to: Southern Guardian
He said.

In March of 2016, then-candidate Donald Trump told The Washington Post he could eliminate the entire U.S. debt in eight years.

You said.

Trump vowed to eliminate debt in 8 years.

It seems as if you are doing the exact thing you are claiming someone else is doing.

originally posted by: strongfp
a reply to: Bluntone22

Yes, he's relied on other people and laws to do it for him. Like every aspect of his life. It's easy when you can just throw money at people to fix all your problems.

I'm not sure how using the law as it exists is a burn..

Are you your own boss, and do everything yourself? Otherwise you're also depending on other people. Do you fix and maintain your own car? If not, you are also relying on other people. If you were to have issues in your marriage, would you be able to fix them yourself, or would you seek the aid of a marriage councilor to help you solve your problems?

Everyone who can afford it throws money at people to fix their problems.

I just don't think you thought this comment through very well.

a reply to: shawmanfromny

But see, when that happens SG will be ok with it. In fact, he will post threads about why the soaring debt is good and necessary.