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Re:U.S. Is World’s Most Competitive Economy for First Time i... by threeseed on Tuesday October 16, 2018 @07:03PM (#18234048)
There is news about this today.

McConnell is demanding that the Democrats work with Republicans to cut entitlement programs.

Even though they control all three branches and are the ones who passed the very expensive tax cuts.

Re:U.S. Is World’s Most Competitive Economy for First Time i... by 40acres on Tuesday October 16, 2018 @07:09PM (#18234073)
There has been a clear trend for decades now showing that the defecit grows under Republican presidents and shrinks under Democratic ones.

Aside from cultural issues like abortion the Republican agenda seems so far removed from what their constitancy needs it's hard to fathom.

The next time Democrats are in control you'll be sure to see GOP complaints that the defecit is a problem and entitlements should be on the chopping block.

Re:U.S. Is World’s Most Competitive Economy for First Time i... by dragonwriter on Tuesday October 16, 2018 @07:21PM (#18234155)
> The next time Democrats are in control you'll be sure to see GOP complaints that the defecit is a problem and entitlements should be on the chopping block.

They are actually doing that right now, even though they created the massive deficit increase.

That's because to them, entitlements are the problem, and the deficit is just the standard excuse.

Re:U.S. Is World’s Most Competitive Economy for First Time i... by codexon on Tuesday October 16, 2018 @07:18PM (#18234134)
It does makes sense from their standpoint though. In their mind, everything they want to spend money on is necessary, while everything the other party wants to spend money on is wasteful.
Re:U.S. Is World’s Most Competitive Economy for First Time i... by wahern on Tuesday October 16, 2018 @07:23PM (#18234169)
The missing piece of logic is that the Republicans don't actually want to fund their expenditures. Democrats may be the party of tax and spend, but Republicans are the party of just spend. The former provides back pressure to the electorate, the latter is a recipe for ruining the country regardless of your policy preferences.
Re:U.S. Is World’s Most Competitive Economy for First Time i... by claydavisss on Tuesday October 16, 2018 @07:29PM (#18234204)
Re:U.S. Is World’s Most Competitive Economy for First Time i... by redblacktree on Tuesday October 16, 2018 @09:02PM (#18234681)
Are those numbers adjusted for inflation? It isn't mentioned in the article. If they aren't, the conclusions are suspect.
Re:U.S. Is World’s Most Competitive Economy for First Time i... by nathantotten on Tuesday October 16, 2018 @07:07PM (#18234062)
This was by design. Reduce income and leave no choice but cut spending.
Re:U.S. Is World’s Most Competitive Economy for First Time i... by dan_quixote on Tuesday October 16, 2018 @07:25PM (#18234177)
Re:U.S. Is World’s Most Competitive Economy for First Time i... by erichocean on Tuesday October 16, 2018 @07:15PM (#18234113)
[DELETED]
Re:U.S. Is World’s Most Competitive Economy for First Time i... by existencebox on Tuesday October 16, 2018 @07:22PM (#18234158)
Is that true? [0]

The real question would be "inflation adjusted per-capita tax receipts over time" but a mid-work googling didn't turn up anything promising; that being said from the above graph _and_ the knowledge that inflation is increasing, your statement doesn't seem to mesh. Feel free to point out if I was really thick and got the wrong data or something.

[0]https://fred.stlouisfed.org/series/W006RC1Q027SBEA

Re:U.S. Is World’s Most Competitive Economy for First Time i... by munk-a on Tuesday October 16, 2018 @07:05PM (#18234052)
I mean... no one should be surprised by this at all... unless you've had your head under a rock for quite some time.
Re:U.S. Is World’s Most Competitive Economy for First Time i... by Covzire on Tuesday October 16, 2018 @07:17PM (#18234127)
Isn't it too early to say what the cost of the tax cuts were? If the Republicans are right, they'll spur enough economic growth to be a net gain across the board in both new economic activity (wealth). I don't know if there's a proper name for it, but I'd much prefer a dollar spent in the private sector so the government doesn't have to spend two just to accomplish the same thing.
Re:U.S. Is World’s Most Competitive Economy for First Time i... by mrep on Tuesday October 16, 2018 @08:01PM (#18234373)
Don't know why you are getting downvoted since you are right, it is called the Laffer curve [0]. Granted, most evidence shows the maximum tax revenue rate to be closer to 70% so it is highly unlikely that these tax cuts will increase revenue.

[0]: https://en.wikipedia.org/wiki/Laffer_curve

Re:U.S. Is World’s Most Competitive Economy for First Time i... by tfehring on Tuesday October 16, 2018 @08:17PM (#18234448)
>I'd much prefer a dollar spent in the private sector so the government doesn't have to spend two just to accomplish the same thing.

This is a false equivalence because the government and the private sector spend money on very different things. If the tax cuts end up being funded by reductions in entitlement spending, for example, the private sector won't funnel money into Social Security and Medicare to offset those reductions.

>If the Republicans are right, they'll spur enough economic growth to be a net gain across the board in both new economic activity (wealth)

CBO projections imply that the nearly all of the long-term gains from the tax cuts will flow to foreign investors [0], so it certainly won't be a net gain for the US as a whole.

[0] https://www.brookings.edu/blog/up-front/2018/05/10/cbo-estim...

Re:U.S. Is World’s Most Competitive Economy for First Time i... by woofyman on Tuesday October 16, 2018 @07:21PM (#18234151)
> I don't know if there's a proper name for it

Voodoo Economics