Tax cuts only create debt when we are living beyond our means. The way I see it is like this. If you are a person who is gainfully employed, but you spend more than you earn, then you are incurring debt. Now, if this is your situation, it would be incredibly irresponsible of you to cut your hours to part time work, given that you aren't even living within your means at full time. So I would advice that person not to semi retire, but to cut back on spending until they can live within the means of the amount they want to work.
So using that as an example, I DO think it is irresponsible to cut taxes, especially when we all know that we are ALREADY spending more than the taxes collected before the tax cut, and worse, the tax cuts are just a temporary sugar high for the economy, which will fade away over time, but the tax revenues will be gone until legislation passes to raise them again. So this is corrosive.
Bottom line is that you and I should not be arguing over debt. We are agreed that debt at these levels is bad. We are also agreed that tax cuts at this level of spending is bad too. But you blaming this on Republicans is a bit like the pot calling the kettle black. Obama presided over an 8 year period in which we almost tripled our debt. Where was your fiscal conservatism then? I bet you made all sorts of excuses for why that was necessary, including the old myth that it was necessary to bail out everyone so we wouldn't experience armageddon. Bullshit. We could have let the free market wipe out the bad actors instead of letting them all off scott free and enriching them, all at the expense of tax payers. But Obama and Bush before him chose communism over capitalism, because they were weak people and were more interested in their legacy than in what is good for this country in the long run. Trump is no better with this tax cuts. We don't have people with integrity, rectitude, and fortitude running this country. That's the hard truth. |
