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Reply to "Recommended Book on GDP and Government Debt for dummies"
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[quote=Anonymous][quote=Anonymous]You cannot add to the national debt by tax cuts. Taxes are not the government's to begin with. People and organizations EARN income and then give some of it to the government to sustain it. But that money is not the government's to begin with. 70+% of federal spending are transfer payments (mandatory spending). So no, Iraq and Afghanistan weren't the biggest drivers. The biggest drivers of debt has been the welfare state. BTW, go look at the national debt clock (all government supplied numbers) to see where the money is going. We're spending more on interest on the national debt than defense. https://fiscaldata.treasury.gov/[/quote] Ahh you must be one of those "taxation is theft" people. You should refresh yourself on the US Constitution. Some of you dopes pride yourselves on carrying around a "Pocket Constitution" yet never seem to have actually read it. The Federal Government's power to collect those taxes is granted by Article I, Section 8, Clause 1 of the U.S. Constitution, otherwise known as the Taxing and Spending Clause. If you hate the US Constitution and taxes so much then I suggest you go move to Somalia where they don't have any meaningful taxation (and as a result no functional government). And, I will reiterate some facts - of the $36 trillion in current debt, close to $13 trillion of that is due to Bush and Trump tax cuts and the Iraq war. They were SIGNIFICANT drivers and this will continue to be a problem while Trump continues to pursue tax cuts. Anyone with common sense should know that you can't reduce debt by cutting income. The "entitlement" problems driving deficits are also self-inflicted wounds being driven by Republicans, given they cling to our current overpriced for-profit healthcare model, and refused to enact common-sense things like raising the contribution cap on Social Security which would have kept it solvent for the next 75 years.[/quote]
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