Welcome home, fellow Gator.

The Gator Nation's oldest and most active insider community
Join today!

Feds Collect Record Taxes in First Month Under Tax Cut; Run Surplus in January

Discussion in 'Too Hot for Swamp Gas' started by G. Gordon Gator, Feb 13, 2018.

  1. docspor

    docspor GC Hall of Fame

    1,447
    364
    303
    Nov 30, 2010
    So, now you like loose monetary policy?
     
  2. docspor

    docspor GC Hall of Fame

    1,447
    364
    303
    Nov 30, 2010
    one (fixable) prob for the FED is that they have a duel mandate. That is a huge mistake. They are tasked with addressing inflation & UE. It should only be inflation. Even the ECB is only tasked with worrying about inflation.

    The hardcore libertarian-ish position is that the FED should use a rule based approach in lieu of using discretion. Discretion causes uncertainty whereas rules don't. The example is you have a gov that can tax via discretion vs. rules (committed to a tax rate) & farmers who can eat their seed now or plant it. Of course, under discretion they save & invest (plant) less & consume more than they do under a rule based scheme.
     
  3. mdfgator

    mdfgator GC Hall of Fame

    5,033
    794
    573
    Apr 3, 2007
    San Francisco
    I hate to break it to my fiscal conservative friends but the deficit this year will eclipse 5%. Trumps a raging liberal, win at all costs baby. He ain't going down like the pubs, he is going down guns blazing. Let the next clown clean it up...
     
    • Agree Agree x 1
  4. Gatorrick22

    Gatorrick22 VIP Member

    60,123
    8,869
    2,358
    Apr 3, 2007
    Lol... I've always been for lower interest rates. But we all know what Obama was doing when he went out and crushed our national debt by wasting 10 trillion dollars, don't we? Sabotage... either because he was a greedy A-hole that didn't freaking care about his children's future, or he was a complete imbecile in over his head on matters of the economy and how national debt effects the Fed, either way he screwed things up while he was in the WH with his cheaply printed money.
     
    • Winner Winner x 1
  5. citygator

    citygator Premium Member

    2,823
    515
    423
    Apr 3, 2007
    Charlotte
    Remind me who controlled the budget process in Congress 6 out of those 8 years? You’re keeping one eye closed if you solely blame Dems/Obama. Your buddies did no better and are now doing no better.
     
    • Winner Winner x 1
  6. howdygator

    howdygator GC Hall of Fame

    1,209
    124
    223
    May 25, 2017
    This is more No True Scotsmanism. Who was the true conservative who eschewed deficit spending again? Hell, Reagan still owns the record for largest increase by percentage for any presidency.
     
  7. mdfgator

    mdfgator GC Hall of Fame

    5,033
    794
    573
    Apr 3, 2007
    San Francisco
    No idea if this was an attempted joke or serious.
     
  8. NOLAGATOR

    NOLAGATOR GC Hall of Fame

    3,376
    917
    418
    Jun 2, 2014
    Cut Taxes and Regulations and Unemployment goes Down.

    As Employment goes up, Federal and State Revenue Goes Up.

    Kennedy did it, Reagan did it and if we could get Trump to Curb Waste and Spending we would have something.
     
    • Funny Funny x 2
  9. VAg8r1

    VAg8r1 GC Hall of Fame

    7,766
    339
    348
    Apr 8, 2007
    There seems to be a case of selective memory here. Apparently very few of the conservatives posters recall that during Bill Clinton's last two years in office the federal budget experienced it's largest SURPLUSES in history. The Republican narrative was that it wasn't the Democratic president who was responsible for the surpluses, but the fiscally conservative Republican congress. Seems that if a majority Republican congress was responsible for the surpluses during the Clinton administration, the Republicans should accept responsibility for run-up of the debt during the Obama administration.
     
    • Disagree Disagree x 1
  10. dangolegators

    dangolegators GC Hall of Fame

    7,072
    159
    638
    Apr 26, 2007
    That's always the case. They do it with Reagan too. Blame the Dem president/congress for anything bad, credit the Repub president/congress for anything good. That's just how it works in intellectually dishonest land.
     
  11. VAg8r1

    VAg8r1 GC Hall of Fame

    7,766
    339
    348
    Apr 8, 2007
    Reagan and George W. Bush did it and the federal debt exploded after decades of decline. And the picture will be the same under Trump and the Republican Congress.
    [​IMG]
     
  12. rivergator

    rivergator Too Hot Mod Moderator VIP Member

    Apr 8, 2007
    Clinton raised taxes and unemployment went down.
    GWB cut taxes and unemployment went up.
    Some claimed Obamacare was a huge tax hike. Unemployment went down.
     
    • Funny Funny x 1
  13. VAg8r1

    VAg8r1 GC Hall of Fame

    7,766
    339
    348
    Apr 8, 2007
    The Republicans gained control of both Houses of Congress in 1994, in part as the result of the unpopularity of the Clinton tax increase, even though the tax increase actually affected a relatively small percentage of the electorate. Once the Republicans gained control of Congress they didn't even attempt to repeal the Clinton tax increases, which were undoubtedly a factor in the surpluses during Clinton's last two years in office.
     
    • Funny Funny x 1
  14. gatorpika

    gatorpika Premium Member

    7,077
    786
    408
    Sep 14, 2008
    This is kind of a pointless thread since cashflows aren't even throughout the year on both the revenue and spending side.
     
    • Agree Agree x 1
    • Funny Funny x 1
  15. VAg8r1

    VAg8r1 GC Hall of Fame

    7,766
    339
    348
    Apr 8, 2007
    Very valid point, but why let the facts and a rational analysis get in the way of a good story.
     
    • Funny Funny x 1
  16. rivergator

    rivergator Too Hot Mod Moderator VIP Member

    Apr 8, 2007
    For the record, if you want to chart unemployment by postwar presidents, when they left office versus when they arrived:

    Eisenhower - up
    JFK - down
    LBJ - down
    Nixon - up
    Ford - up
    Carter - unchanged
    Reagan - down
    GHWB - up
    Clinton - down
    GWB - up
    Obama - down

    Both Reagan and Obama had big increases at the beginning of their first terms, followed by steady decreases after that.
     
    Last edited: Feb 14, 2018
  17. NOLAGATOR

    NOLAGATOR GC Hall of Fame

    3,376
    917
    418
    Jun 2, 2014

    But many of Obama's low unemployment numbers did not account for underemployed and people who left the work force.

    Actually, the % of Employed is more accurate. It explains discontent when unemployment remain low.
     
    • Like Like x 1
  18. rivergator

    rivergator Too Hot Mod Moderator VIP Member

    Apr 8, 2007
    why is that only a factor during Obama's term? (Don't worry, I know. Republicans never mentioned until Obama took office, then it became a constant claim simply to try to make his record look worse. Now that a Republican is in office, it's not an issue anymore. I mean, except to talk still dispute Obama's numbers.)
     
  19. NOLAGATOR

    NOLAGATOR GC Hall of Fame

    3,376
    917
    418
    Jun 2, 2014

    River you are so true to form. US vs Them!

    I don't like the Unemployment STATS - They are bogus. It should be based on the work force (% of employable who are actually working)

    I could give a Rat's Rectum if you are a Dem, GOP, or Pee Wee Herman. I love cutting taxes, and regulations BUT I hate SPENDING like drunken sailors.

    I love the Military but I hate Nation Building, Defense Systems that are not needed, and going to war without the Congress.

    I love Teachers but a system that can't teach needs to be revamped or scrapped.

    You however DEFEND the Dems because you are one. I'd like to Dump them ALL. I want ideas NOT Parties.
     
  20. Gator515151

    Gator515151 GC Hall of Fame

    20,068
    356
    883
    Apr 4, 2007
    None of these numbers mean much to me, all I understand is the numbers I get from my Charles Schwab account and they keep going up.