GOP tax cuts not govt programs screwing debt ratio

[Pom]

“House Republican leaders have used this fact to call for spending cuts,3 but it does not address the true cause of rising debt: Tax cuts initially enacted during Republican trifectas in the past 25 years slashed taxes disproportionately for the wealthy and profitable corporations, severely reducing federal revenues. In fact, relative to earlier projections, spending is down, not up. But revenues are down significantly more. If not for the Bush tax cuts4 and their extensions5—as well as the Trump tax cuts6—revenues would be on track to keep pace with spending indefinitely, and the debt ratio (debt as a percentage of the economy) would be declining. Instead, these tax cuts have added $10 trillion to the debt since their enactment and are responsible for 57 percent of the increase in the debt ratio since 2001, and more than 90 percent of the increase in the debt ratio if the one-time costs of bills responding to COVID-19 and the Great Recession are excluded. Eventually, the tax cuts are projected to grow to more than 100 percent of the increase.”

www.americanprogress.org/article/tax-cuts-are-primarily-responsible-for-the-increasing-debt-ratio/

When will American citizens, not in the owner class, understand that the GOPs only goal is benefiting themselves and stop voting for this shit. This is why all the “culture war” craziness is so important for them. They have no policies for regular Americans, that have and do work and fuel the economic engine that makes the wealthy in this country rich. I know I’m preaching to the choir here, but holy hell. Message this, Dems. This should be the starting point for “voting for kitchen table issues”. Voters need education.

[seeyalater52]

I’m taking it extra personally because their attacks on Medicaid sidetrack us from our real work of expanding healthcare access. I’m so tired of playing defense while these goons try to fuck with the paltry safety net we have left in this country. I’m worried 2024-2025 are going to be 2016-2017 all over again but worse.

[smock]

You mean the tax cuts didn't trickle down when the job creators created all those new jobs?!?!

[biscoffcookies]