hokiewolf said:your math of soaking the rich doesn't work either.SmaptyWolf said:Yes, he's saying that tax cuts add money to the treasury just like magic, yet "hard decisions" need to be made about Social Security. If his magical math actually worked you'd think we could just cut taxes and unleash economic growth until our deficit went away.hokiewolf said:you know what will not contribute to a robust economy? Tariffs.caryking said:Hokie, don't fall for the same line that liberals fall for…hokiewolf said:Yes, but the percentage of people who are going to be able to work is low. The cuts that are being floated won't come to $100B, and that will all be sucked up by renewing the Trump tax cut.caryking said:This is where the able bodied people are. Medicare is for the elderly. Medicaid is for the people of lower income status.hokiewolf said:yes, but how many abled body people are on Medicaid? Additionally, Medicaid is cheaper than paying hospitals for emergency visits. Social security and Medicare are the two that need to be looked at hardcaryking said:8 thought you said that if anybody is serious about the budget, then these are the types of areas that need to be looked into…hokiewolf said:
This is a great idea if you like losing elections.NEW -
— Jeff Stein (@JStein_WaPo) November 18, 2024
GOP, Trump allies look at changes to Medicaid, food stamps to offset cost of tax bill
Under discussion: Work requirements; eligibility restrictions; benefit formula changes
Possible they stay away from both programs
W/ @jacobbogage @ddiamond https://t.co/Tcvg1aOpPb
Social security and Medicare are the two big sucks on overspending. Maybe the Doge crew wil figure that out too.
We are at the point where taxes are going to have to go up because no one is willing to fix SS and Medicare. And that's everyone, can't just soak the rich, that won't pay for it either. It would be better to just raise taxes now and get it over with.
Our goal is to reduce the deficit, right? In order for that to happen, we need to do two things.
1) reduce spending
2) increase revenues into the treasury
I agree that Medicare needs to be resolved. I also agree that Social Security needs to resolved. Each one of them is solvable without more in the treasury. Unfortunately, some hard decisions have to be made that some are not going to like.
As far as more into the treasury, well, a more robust economy will increase receipts. Tax cuts have never reduced the receipts into the treasury as we typically get more contributors and the increase in economic growth has high earners contribute more. Megan Kelly did a good review on this several weeks ago.
With 20 - 25% of all receipts going to service the debt, well, that's something that all politicians contributed to and need to solve. Does everyone have the will to do that?
I am confused, are you saying Social Security and Medicare are solvent, but also saying there need to be cuts to benefits? Those two statements are I conflict to me.
Of course his magical math doesn't work... it's just the same tired scam they've been pulling for decades. More rich guy tax cuts paid for by draconian cuts to the working class.
Oh well, I guess the working class voted to have their SS slashed, so who am I to judge? Good luck with that!
No, but "not slashing taxes and soaking the rich" works a lot better than "just plain slashing taxes."
It's old age-old Republican "don't-tax-but-still-spend" conundrum.
Hopefully the Trump Administration can find some meaningful cost savings to help offset their built-in revenue reductions and the actual deficit increase isn't as bad as projected.
DOGE, baby!!
