(TNS) Only a Democrat could hate a tax cut, but there’s a perfectly good explanation as to why: The Garbage Party can never steal enough of your hard-earned wages to spend on buying votes.
Case(s) in point: Leading 2020 Dems including Bernie Sanders, Joe Biden, and Elizabeth Warren all have endorsed massive spending plans including full-on government-controlled healthcare that would wipe out the U.S. economy and impoverish the vast majority of Americans.
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That’s why they all hated the tax cuts passed by President Trump and the Republican-controlled Congress — just about the only good thing the GOP did for the president during the RINO Paul Ryan years.
Worse, Democrats and and their propagandists in the lock-step media lied about the effects of the Trump/GOP tax cuts.
They all claimed that, at a time of rising federal deficits, cutting our taxes would only exacerbate the debt problem.
Wrong, and wrong.
As Fox News’ chief political analyst Brit Hume explained in a Friday tweet, it wasn’t the president’s tax cuts that deepened the federal debt load over the past couple of years because as is always the case when taxes are cut, revenues goÂ up because the economy is stimulated and it grows.
Next time you hear the tax cuts blamed for the deficit, note this: “…in the 2019 fiscal year, which ended Sept. 30, federal revenues increased by $133 billion (or 4%), but spending spiked by $339 billion (or 8%), driving up the deficit by $205 billion.” https://t.co/MWZGJY4E7w
— Brit Hume (@brithume) November 8, 2021
In fact, as Hume points out, federal tax income rose by about $133 billion, and that was after something like 80 percent of the American people, along with U.S. corporations, were given some welcome tax relief.
However, because not enough Republicans andÂ no Democrats ever want to cut a dime’s worth of spending, the deficit climbed after lawmakers spent $205 billion more than Uncle Sam collected in new tax revenues.
The Washington Examiner explains:
Federal tax revenues rose during the 2019 fiscal year as the economy grew, but spending increased by over $200 billion more, which is why the country ended up running a deficit approaching $1 trillion,Â according toÂ Congressional Budget Office data released Thursday.
As debt has accumulated during President Trumpâ€™s first term, the focus has turned to tax cuts as the culprit. And while itâ€™s simple math to point out that if the government was collecting more tax revenue than it is currently, the deficit would have been narrower, the truth is that revenues did go up modestly â€” but that revenue growth was just outpaced by an increase in federal spending.
Specifically, in the 2019 fiscal year, which ended Sept. 30, federal revenues increased by $133 billion (or 4%), but spending spiked by $339 billion (or 8%), driving up the deficit by $205 billion to $984 billion.
President Trump campaigned on cutting the deficit. His very first budget would have immediately begun to do just that.
It was pronounced DOA — dead on arrival — as even with Republican majorities in both the House and Senate, he couldn’t get it passed.
We reported in January:
Do you remember when Republicans were champions of smaller, leaner, less expensive government? Neither do we.
While there still are some members within GOP congressional ranks andÂ noÂ Democrats who claim to be budget misers, the fact remains that under subsequent Republican majorities between 2010 and 2018, the national debt increased an eye-popping $7.9 trillion.
And this after complaining for years that Barack Obama and Democrats were spendthrifts.
Trump’s first budget was leaner and meaner than budgets had been in…decades.
â€œThis is the â€˜America Firstâ€™ budget,â€ then-Office of Management and Budget Director Mick Mulvaney said. â€œIn fact, we wrote it using the presidentâ€™s own wordsâ€”we went through his speeches, articles that have been written about his policies, we talked to him, and we wanted to know what his policies were, and we turned those policies into numbers.â€
Wasteful spending is targeted, while spending on the military and homeland security is increased, Mulvaney said.
â€œWeâ€™ve worked very closely with the Defense Department to make sure, a couple of things, that this funds their needs but does so in a responsible fashion in terms of what they can actually spend this year,â€ Mulvaney explained. â€œThe Defense Department has told us this is the amount of money they need and can spend effectively this year. We are not throwing money after a problem and claiming that we have fixed it.â€
That first budget even sought to cut the federal workforce in a big way.
It never went anywhere.
So yes, the debt has continued to rise during President Trump’s tenure. But as we’ve always known and as Hume reminds us, that’s because Congress has a spending problem, it’s not because the U.S. government has a revenue problem.
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