Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Democurmudgeon (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Let's call for a Tax Cut Freeze on the Free Lunch Freeloading Republicans!

% of readers think this story is Fact. Add your two cents.


While Trump cultist celebrate good jobs numbers and higher Wall Street averages, the real story and trajectory of our nations economy is being ignored. As planned, Republicans want to make the message utterly simple, with a couple of mindless bragging points made famous by George W. Bush’s tax cuts and now the entire Trump Republican Party. Here’s GOP Rep. Robin Vos parroting absolute drivel:

Vos is simply pushing the failed Taxpayer Bill of Rights; use one-time surpluses to permanently ratchet down taxes by the same amount, while NEVER increasing taxes. It’s not hard seeing where that takes us. Ask Colorado about it.

Democrats want to eliminate some or all of TABOR’s spending restrictions to enable public spending to keep up with Colorado’s rapid growth. Colorado currently ranks between 40th and 45th nationwide for per-pupil K–12 spending and 48th for higher ed spending. Republicans counter that TABOR provides an effective restraint on Democratic overreach.

Maybe Democrats could call for a tax cut freeze until we study what the real costs are in the future? It’s called budgeting?

As I have said before, the greed that infects many baby boomers, with their tax cuts and trickle down scheme, is setting Gen-X and Millennial’s up for a fall. See the chart below. This is the jaw-dropping picture that already seems beyond our control:

Using Federal Reserve data to compare how generations fared financially at different points of their life cycles … What people own: their assets minus their debts; it gives families a safety net during hard economic times and is intertwined with such milestones of adult life as buying a home, starting a business or retiring comfortably.

As the chart above shows, baby boomers — those born between 1946 and 1964 — collectively owned 21 percent of the nation’s wealth by the time their generation hit a median age of 35 in 1990.

Republicans want to stay in the 20th century, telling us to believe this is what you’re getting out of life. And if change does occur, like reduced manufacturing, a dominant service economy, and the overwhelming market takeover of the internet, the government shouldn’t step in because government only makes things worse. Simple. Lowered expectations sure makes their job easier.

Barring a Trump strong man takeover of the US, some future generation in a growing gig economy, making less money with no benefits, will be forced to spend and increase taxes somehow, or lose it all:

1. It illustrates the size of the financial hole today’s young adults are in relative to their parents. It’s a hole they’ll never truly be able to dig out of: The less money you start out with, the less you’ll make during the rest of your life … some will instead require their heirs to care for them, putting further strains on the budgets of young households.

2. Some of the generational gap will eventually close as boomers age out of the population and pass their riches on to their heirs

Though the long-term political and economic implications of these shifts remain unclear, at present it seems apparent that these harsh financial realities drive many young Americans’ disgruntlement with the country’s economic system.

A former liberal radio talk host who likes to ask the “follow-up question” at Democurmudgeon.blogspot.com


Source: https://democurmudgeon.blogspot.com/2020/02/lets-call-for-tax-cut-freeze-on-free.html



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.