Replies to post #453544 on Tornado Alley (PROG)

[zab]

Now you understand why the government is picking up the tab for all of those wonderful tax advantages that the very wealthy can use so easily. Remember the American dream of home ownership, sure that works if Americans who work really hard, can save up enough for a down payment. But for the wealthy they can play real estate games, like trump did. Guess what the government keeps picking up the tab, deficits climb. Once again, like you stated, that's not income, so it's tax free. So much for your income tax scenario. Thanks for reminding everyone that real estate special taxes produces no income taxes.

[blackhawks]

The problem is that the GOP is a 'cut taxes and spend like drunken sailors' Party, hence higher debt; $7T under Trump

Plus the GOP is NEVER confronted with Dem threats to not raise the debt ceiling nor threats of government shutdowns, both of which can rattle financial markets

Bard.....

However, it is important to note that lower tax rates do not always lead to higher tax revenue. For example, if tax rates are cut too low, the government may not have enough revenue to fund essential services. Additionally, if tax cuts are not accompanied by spending cuts, they can lead to increased government debt.

Overall, the relationship between tax rates and tax revenue is complex and depends on a variety of factors. There is some evidence that lower tax rates can lead to higher tax revenue, but this is not always the case.

In the case of the United States, there is some evidence that the Tax Cuts and Jobs Act of 2017, which lowered tax rates for individuals and businesses, led to an increase in economic growth and tax revenue. However, it is important to note that the Act also increased the federal budget deficit.