The GOP Tax Bill Will Result in Huge Deficits, Inflation, and Higher Interest Rates

[Sunstone]

GOP Tax Bill Is The End Of All Economic Sanity In Washington

Stan Collender, the author of the linked to article, spent his entire career analyzing taxes and government spending for both the House and the Senate Budget Committees. Between 1982 and 2000, he was the author of the authoritative Guide to the Federal Budget,

The GOP tax bill will increase the federal deficit by $2 trillion or more over the next decade (the official estimates of $1.5 trillion hide the real amount with a witches brew of gimmicks and outright lies) that, unless all the rules have changed, is virtually certain to result in inflation and much higher interest rates than would otherwise occur.

The article is short, but well worth reading in its entirety.

Comments?

 

[Brickjectivity]

Its like Louis the XV is in charge.

 

[tytlyf]

Republican policies always shaft the middle class. Why would someone in the middle class vote republican? Makes no sense.

 

[Sunstone]

Its like Louis the XV is in charge.

Well put.

 

[Quetzal]

Republican policies always shaft the middle class. Why would someone in the middle class vote republican? Makes no sense.

I ask myself this from time to time. I think it boils down to social issues, which trigger an emotional response, are more important than sound fiscal arguments. Republicans are also very good at fear mongering their base. Turn on any radio/tv talk show that swings into right field and you will begin to get the picture.

 

[Jeremiahcp]

I think the current Congress is overly reckless and a threat to the stability of our nation, and the decisions they make will likely make my personal life harder, but no matter what those numskulls in office do I am not going to let them derail my future.

 

[Twilight Hue]

GOP Tax Bill Is The End Of All Economic Sanity In Washington

Stan Collender, the author of the linked to article, spent his entire career analyzing taxes and government spending for both the House and the Senate Budget Committees. Between 1982 and 2000, he was the author of the authoritative Guide to the Federal Budget,



The article is short, but well worth reading in its entirety.

Comments?

Wait and see if it's the case.

 

[Jeremiahcp]

Wait and see if it's the case.

How about we don't wait and see, but, instead of gambling with the American budget, we take our time and get it done right.

 

[Father Heathen]

Wait and see if it's the case.

But then the damage would have been done, which is what people want to prevent.

 

[Sunstone]

Wait and see if it's the case.

Sage advice! I bet you're also in favor of allowing forest fires to burn freely on the theory they might extinguish themselves before they become wildfires.

Wait and see what? A gutted middle class? A government that is too moribund by debt to invest in education, the military, and infrastructure? The near abolition or abolition of medicare? Runaway inflation and interest rates? At what point will you have seen what adding 2 trillion to the national debt will do to us?

 

[Twilight Hue]

Sage advice! I bet you're also in favor of allowing forest fires to burn freely on the theory they might extinguish themselves before they become wildfires.

Wait and see what? A gutted middle class? A government that is too moribund by debt to invest in education, the military, and infrastructure? The near abolition or abolition of medicare? Runaway inflation and interest rates? At what point will you have seen what adding 2 trillion to the national debt will do to us?

Better than reacting to what if scenarios that may never come to pass. If they do, I'm sure systemic changes will be made then. We had the depression, it was awful, we got out of it, whatever happens, we will still get out of it. Sometimes I think it actually takes a punch to the gut to get things changed right or at least in a better Direction. Seems this kind of thing happens every couple of generations.

 

[Twilight Hue]

But then the damage would have been done, which is what people want to prevent.

I can't think of a better way than repairing any damage should it ever occur in a way that is practical.

People now just knee jerk about what if and imaginary situations as if it's going to really happen. Best time to deal with problems is when they actually arise. It's just more effective that way.

 

[Twilight Hue]

How about we don't wait and see, but, instead of gambling with the American budget, we take our time and get it done right.

I would say a good portion of the doom and gloom forecasts that we have in this nation don't ever really come to pass.

 

[Sunstone]

Better than reacting to what if scenarios that may never come to pass. If they do, I'm sure systemic changes will be made then. We had the depression, it was awful, we got out of it, whatever happens, we will still get out of it. Sometimes I think it actually takes a punch to the gut to get things changed right or at least in a better Direction. Seems this kind of thing happens every couple of generations.

Based on what you've said, I'll make two bets here - both of which I believe I'd win. First, you are unconcerned with the human suffering that will come about should the US add two trillion to the national debt, and second you've never in your life studied enough economics to know the difference between a reasonable economic prediction and a wild one -- and you therefore probably think in your ignorance that all economic predictions are uncertain and wild. In short, you seem to be as eminently qualified as a conservative talk show host when it comes to discussing this issue seriously.

 

[Twilight Hue]

Based on what you've said, I'll make two bets here - both of which I believe I'd win. First, you are unconcerned with the human suffering that will come about should the US add two trillion to the national debt, and second you've never in your life studied enough economics to know the difference between a reasonable economic prediction and a wild one -- and you therefore probably think in your ignorance that all economic predictions are uncertain and wild. In short, you seem to be as eminently qualified as a conservative talk show host when it comes to discussing this issue seriously.

Time will tell.

 

[Jeremiahcp]

I would say a good portion of the doom and gloom forecasts that we have in this nation don't ever really come to pass.

I don't really care what you say. I can understand the tax bill well enough all on my own.

 

[Jeremiahcp]

Time will tell.

Is that is really the best defense for this tax bill you have? As that is not a justifying reason in any way shape or form. I mean what is it do you think that statement proves?

 

[Twilight Hue]

Is that is really the best defense for this tax bill you have? As that is not a justifying reason in any way shape or form. I mean what is it do you think that statement proves?

There are experts who I'm sure knows the in and outs of economics and the consequences of policy. Time and Time again, things get over played like usual with impacts that hardly reminisce the doom and gloom naysayer.

 

[Jeremiahcp]

There are experts who I'm sure knows the in and outs of economics and the consequences of policy. Time and Time again, things get over played like usual with impacts that hardly reminisce the doom and gloom naysayer.

I don't need experts to tell me that this is bad for me, I already know how the bill will directly impact me. Part of being a responsible adult is understanding how you are taxed.

 

[Quetzal]

The very same people telling you to "wait and see" are the same ones who claim the government is going for their weapons if there is any suggestion of a discussion regarding firearms. In short, you can't dislodge political loyalty on the internet.