GOP tax bill would increase deficit by $1.5 trillion. When all the $ they say will miraculously trickle down to stimulate the economy then doesn't, they'll say "Oh we have to cut the deficit!"- at which point they're go for the bare minimum entitlements still left. Dangerous idea

Nov 30, 2017 · 7:33 PM UTC

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Replying to @marwilliamson
1/ "Trickle down" was conjured by Thatcher in UK, econ was Friedman, this theory ws perpetuated by Reagan, & used think-tank at #USC here in L.A. to spread. Art Laffer was th diagram econ prof at USC -- I was there in 80's. It's false/ major flaw is simple...
Replying to @marwilliamson
2/ Flaw is: theory 'assumes' that if u save $ that would otherwise be paid to gov't, that your "biz nature" will cause u to invest it as a Capital investment in your biz. i.e. grow it, build more plants or expand. Human Nature says u either buy more toys, or
Replying to @marwilliamson
3/ end up saving it. Human Nature wins over your biz nature majority of the time... The only place it trickles to, is another pocket, or in wealthy cases -- offshore. Notice nobody's interested in bringing back all $$$ parked offshore?? Why? Research: IBC's.
Replying to @marwilliamson
The national debt under Obama grew by about $9 trillion, or an increase of 86% from the previous administration.
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Replying to @marwilliamson
It is on purpose, this is how they will starve the beast
Replying to @marwilliamson
And blame it all on the Democrats.
Replying to @marwilliamson
My concern is the $10trillion spent during the Obama 8 years. Where did that money go? Who spent it? Why is there a fund to hide bad behavior?
Replying to @marwilliamson
But it wasn't a problem when Obama doubled the deficit over 8yrs to $19trillion... now suddenly! See last 10mnths economy figures & do the math!
Replying to @marwilliamson
"love at its greatest is a verb." --jude folly
Replying to @marwilliamson
Or the economy will grow, jobs will increase, and more taxes will be paid. The deficit which was doubled by 44 will decrease. Neither of us can predict the future but I am choosing to believe the Universe is on our side for good things to come.
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