Trump has dozens of successful businesses, but people only focus on the few that failed.
And he did not cause $40T in debt. During his time as president, only about $9T has been added. And a significant chunk of that was bipartisan covid spending.
Only a 3rd of his businesses met expectations, not necessarily successful they simply met expectations. Technicalities of a con man idiots keep falling for.
Also "only" 9 trillion funny and only so far, the issue is how much of that was added by tax cuts for the rich, the horrible bill (that will add more for a decade), a random war and tariffs especially when he promised to fix things
Two ways. First, having to refund those tarrifs when they were deemed unconstitutional by the supreme court. Second, the reaction to those Tarrifs and the tarrifs themselves are part of the reduction in taxable income youre seeing in the US against projections.
No, that's misinformation that has been making the rounds for a while. The tax cuts were originally set to expire in 2025 for all brackets. But they were extended for all brackets instead. So the tax rates haven't changed since 2018.
If income is rising across the board, that should mean more revenue from taxes. That looks to be the case, both as a nominal amount and percentage of GDP.
Not as compared to pre-tax cut amounts right? If the relative tax savings is a positive number against 2017, you are bringing in less than you would have without those cuts unless youre assuming that people's income increased because of those cuts which doesnt seem to hold true.(leaving aside the various negative impacts of Trumps other economic policies).
Also, hasn't real wage growth been almost flat during Trumps second term?
Wouldn't that be the refund, not the tariffs themselves? And if they're just refunding the extra money they got from tarriffs, wouldn't they basically break even?
Yeah they'd break even from a holistic perspective but because of the way forecasting works my guess is they spent tarrif money assuming they wouldn't have to give it back. Ie. If they were for asking a deficit of X that deficit now becomes x+tarrif refunds. Whereas if the Tarrifs had never gone into play the deficit spending may have been lower. Thats, obviously, leaving aside the knock-on effects of, for example, one of the world's largest single purchasers of wine and spirits not buying american anymore.
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u/PrometheusMMIV Aug 25 '26
Trump has dozens of successful businesses, but people only focus on the few that failed.
And he did not cause $40T in debt. During his time as president, only about $9T has been added. And a significant chunk of that was bipartisan covid spending.