one benefit of tax cuts

[Pete F.]

Apparently you don't care either and you sold out for $2500. Do you think that comes close to your increased share of the debt?

During the 2016 presidential campaign, Floridaman promised he would eliminate the nation’s debt in eight years. Instead, his budgets would add $9.1 trillion during that time. It would increase the U.S. debt to $29 trillion according to Floridaman's budget estimates.

Floridaman’s Two Strategies to Reduce the Debt
Floridaman had two strategies to reduce the U.S. debt. He promised to grow the economy 6% annually to increase tax revenues. But once in office, he lowered his growth estimate to 3.5% to 4% and he has yet to achieve that.


These projections are above the 2%-3% healthy growth rate. When growth is more than that, it creates inflation. Too much money chases too few good business projects. Irrational exuberance grips investors. They create a boom-bust cycle that ends in a recession. Floridaman’s Fiscal Year 2020 budget lowered annual growth rates down to between 2.4% and 2.9% annually.

Floridaman promised to achieve 4% growth with tax cuts. In his first 100 days, he released the outline of what would become the Tax Cuts and Jobs Act. It cut the corporate tax rate from 35% to 21% beginning in 2018. The top individual income tax rate drops to 37%. It doubles the standard deduction and eliminates personal exemptions. The corporate cuts are permanent, while the individual changes expire at the end of 2025.