Why are liberals denying that the Trump tax cuts led to a huge increase in federal revenues due to increased economic activity?
- 1 month agoFavorite Answer
Nancy Pelosi often calls it the GOP Tax Scam, notably in her monthly statements about the jobs report saying only the wealthy are benefiting. On the other hand, she was a strong advocate for passing "The Democrat Healthcare Scam".
- LeoLv 71 month ago
Then why has the deficit increased?
- Anonymous1 month ago
because they didn't? because federal revenues went down?
- YavanLv 71 month ago
That is simply mathematically false. Deficits are exploding.
I'm not denying that the Trump markets are strong, I'm just denying the fundamental sanity of the whole thing.
It's being pumped up on $1.3 trillion in government deficits AND the Federal Reserve still taking on bad asset risks. (It's more than 1.3, now. New projections are heading to 1.6).
Basically, Trump has been applying recession emergency measures throughout his presidency. Yes, those will boost markets. It's corporate welfare to the max and it will end in tears.
The revenues just don't justify these valuations. This is gilded age insanity.
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- L. E. GantLv 71 month ago
Because it didn't.
However, increased federal spending did result in increased economic activity....