Originally posted by Kamban
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Originally posted by Dusn View PostIs there any evidence that decreasing taxes actually decreases govt spending ?— this may be true on a personal level but it is not true for the govt. I can find very few examples of politicians who have actually decreased the debt — the nearest I can find to someone who managed to minimize debt seems to be Bill Clinton. It seems like tax cuts only increase debt — so why are we favoring politicians who cut our taxes but put us further in debt? That does not sound like a good long term strategy for our country.
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Originally posted by Eye3md View PostAren’t most of the Wall Street rich folks paid in such a way that they are taxed at the capital gains level, and not income tax? Pay themselves $200k and the rest of their pay is a distribution? I’d have to look it up but thought I’d read that previously, and it would explain why you never hear much complaining from the Wall Street folks about increased income tax rates in NY.
historically, the difference is that it’s NYC for the job or nothing since the jobs are all there (this is changing), hence less complaining- you can just live outside the city and commute to skip the city tax (no longer a commuter tax).
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Originally posted by jhwkr542 View Post
Obama let the Bush era tax cuts expire in 2013. Kinda looks like the deficit was decreasing after, no? Or the inverse is that the tax cuts during Bush and Trump increased the deficit. Clinton also raised taxes. This just seems like an odd statement to me.
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Originally posted by East coast View PostYea, that comment (kambans) is so unequivocally false that it’s kinda funny
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States have to find a way of fixing their problems, through taxation or decreased spending or just an infusion from the fed , which NY is asking for. Federal governments dont have to balance budgets or even pretend , because cash is unlimited and essentially free by judging treasury rates. Everything works as long as someone is buying the treasuries. Since foreigners dont want to any longer and individuals dont want to , the only person who will by them is the government. Charles Ponzi would have been proud.
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