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Treasury Takes 'Extraordinary Measures' as Federal Gov't Hits Debt Limit
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  • Bruce
    Voted Apathetic
    03/06/2019
    ···

    All I know is that Obama produced a lot of debt but largely because he had to get us out of a near depression. Trump has drunk the kool Aid on the corporate tax cuts forgetting that while the nominal rate was high NO-ONE with an accountant paid that rate. GE famously paid less taxes than the average American one year. Trump and his team also neglected to tell the American public that in the countries where corporate tax rates are low, like Ireland and Switzerland, personal tax rates are high. Someone has to pay to keep the lights on: revenue doesn’t simply appear by magic. Inevitably the American public will end up paying higher taxes at some point because businesses will lobby hard to keep their rates low and we don’t have lobbyists. Before you tea party folks start ranting about no more taxes, just let me say that you guys also want all the services taxes provide AS WELL. Can’t have both so you need to start compromising instead of just saying no.

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