Drudge Retort: The Other Side of the News
Sunday, October 22, 2017

Senate Republicans overcame internal divisions late Thursday to approve a 2018 budget that will increase the deficit by $1.5 trillion over 10 years to allow for President Trump's proposed tax cuts. Passage of the GOP's budget blueprint is a largely symbolic exercise, but it sets the stage for smoother passage of Trump's upcoming tax cuts. It will include special instructions that allow for passage of a tax plan by a simple majority, without threat of a Senate filibuster to block it. At the White House, Trump had been confident of the result earlier in the day and predicted it was a sign that his tax plan would also succeed. "Frankly, I think we have the votes for the tax cuts, which will follow fairly shortly thereafter," he said.

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But the outcome was not certain, as some conservatives still objected to piling onto the deficit. Many joined Congress during the rise of the tea party movement, which railed for years against rising national debt under President Obama after the Great Recession. The vote was 51-49, with all Democrats opposed.

"The budget's a sham," Sen. David Perdue (R-Ga.) said at a recent Koch-backed group's gathering of wealthy donors in New York. "It has nothing to do with reality. ... It's a tool to get to reconciliation."

Sen. Bob Corker (R-Tenn.) called the budget a "hoax" on Thursday.

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All Americans should be in the streets rioting. Millions will lose homes, jobs and retirements so that these greedy bastards can have their unneeded tax cuts. This is a declaration of war against the working class and you better recognize it for what it is because you are being screwed. I wouldn't spit on a Trump voter or a Republican if they were on fire. Any questions?

#1 | Posted by danni at 2017-10-20 11:29 AM | Reply

I thought Rs were supposed to be the party of fiscal conservatives? I guess deficits don't matter when you need to give your rich investors a big cut in their taxes. Bill Clinton said the secret to balancing a budget (which he did) was called arithmetic. That's more of that science stuff Rs don't believe in.

#2 | Posted by SomebodyElse at 2017-10-20 11:36 AM | Reply | Newsworthy 2

Tinkle Down on you, or Voodoo Economics, as even Poppy Bush called it... they didn't even bother putting it in a new bottle this time.

"A Wealthy Capitalist on Why Money Doesn't Trickle Down"

billmoyers.com

#3 | Posted by Corky at 2017-10-20 11:41 AM | Reply

- Tinkle Down on you, or Voodoo Economics

Actually, money does tinkle down, but only into service industry jobs that pamper the rich.

#4 | Posted by SheepleSchism at 2017-10-20 11:44 AM | Reply

Notice how the MSM isn't really covering the implications of the budget and planned tax cuts? It's the same thing that happened during the primaries and the election campaign. Substantive issues that affect the lives of millions of Americans are overlooked as the media obsessively covers the latest shiny object Trump throws out to them. Yes, the death of 4 Americans in Niger needs to be covered and looked into, but the wall-to-wall coverage of Trump dissing Obama and Bush over contacting the families of dead soldiers, followed by the wall-to-wall coverage of Kelly coming to Trump's defense--at the expense of coverage about the budget and tax cuts--is journalistic malpractice. I am totally disgusted at what the so-called talking heads are choosing to focus on. Have they learned nothing from their superficial election year coverage? Apparently not.

#5 | Posted by Gal_Tuesday at 2017-10-20 11:44 AM | Reply | Newsworthy 1

- Notice how the MSM isn't really covering the implications of the budget and planned tax cuts?

LoL. They'll feed you whatever their corporate sponsors want fed to you, to keep you tuned in and wringing your hanky.

#6 | Posted by SheepleSchism at 2017-10-20 11:47 AM | Reply | Newsworthy 2

Notice how the MSM isn't really covering the implications of the budget and planned tax cuts?

Same reason why you never see any news stories covering the everyday poisons we consume.....they are the advertisers that pay for the news and will squash any story against their bottom line.

How many times a week do I see a commercial about how magical and wonderful Koch industries are? Yep, they don't want stories pointing out what this administration is doing environmentally or fiscally that they don't approve of.

#7 | Posted by 726 at 2017-10-20 12:08 PM | Reply

I thought Rs were supposed to be the party of fiscal conservatives?

Only when it comes to spending on the poor. Spending on the rich, well that is magically ignored.

#8 | Posted by 726 at 2017-10-20 12:26 PM | Reply

"some conservatives still objected to piling onto the deficit."

Now, there's some Fake News for you.

#9 | Posted by Danforth at 2017-10-20 12:31 PM | Reply

from corky's link in #3....

"The trickle-down explanation for economic growth holds that the richer the rich get, the better our economy does. But it also clearly implies that if the poor get poorer, that must be good for our economy. Nonsense."

I've never believed that explanation. lowering income taxes on the wealthy doesn't really create more wealth for them, does it? their wealth skyrockets in value because the businesses they own are worth more, real estate values, stock prices, etc....all things that increases their net worth......but I've placed little significance on the marginal income tax rates as to how they influence net worth of our wealthiest citizens.

#10 | Posted by eberly at 2017-10-20 02:01 PM | Reply

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I've never believed that explanation. lowering income taxes on the wealthy doesn't really create more wealth for them, does it?

Math would say it does.

#11 | Posted by 726 at 2017-10-20 02:52 PM | Reply

but it's not the main driver of their increases in net worth.

If I'm a business owner making $2 million a year and you increase my marginal rate 4 or 5 points....that might mean I pay upward of $100K more in federal taxes....that's not going to hammer my net worth by any meaningful amount. My net worth is being driven by other business moves, where my assets are placed, how good or bad my business is doing, etc......not the 4 or 5 more points in federal tax rates that apply marginally to me.

#12 | Posted by eberly at 2017-10-20 02:56 PM | Reply

If I'm a business owner making $2 million a year and you increase my marginal rate 4 or 5 points.

But if I am a business owner making the same as an 1120S owner, my marginal rate went from 39.6% to 25%.

$2,000,000 x 14.6% = $292,000. That's a good chunk of change.

Now Koch Industries $115,000,000,000 of gross sales and an estimated pretax profit margin of 10%, would be $11,500,000,000 x 14.6% = $1,679,000,000 savings. Now that is what the GOP is fighting for and that $1.6 billion will have to be made up somehow whether by taking away tax deductions from the middle class or cutting social programs or both.

#13 | Posted by 726 at 2017-10-20 03:18 PM | Reply

I see your point. That's real money if those are real numbers and I know that's what the Kochs fight for.

#14 | Posted by eberly at 2017-10-20 03:34 PM | Reply

"that $1.6 billion will have to be made up somehow whether by taking away tax deductions from the middle class or cutting social programs or both."

The GOP will borrow, and add it to the debt.

So that it can be the next Democrat President's fault.

#15 | Posted by snoofy at 2017-10-20 03:53 PM | Reply | Newsworthy 3

The GOP will borrow, and add it to the debt.

So that it can be the next Democrat President's fault.

#15 | POSTED BY SNOOFY AT 2017-10-20 03:53 PM

That's how the sausage is made.

#16 | Posted by Rightocenter at 2017-10-20 04:06 PM | Reply

Then the rich benefactors will spend handsomely to re-elect RepubliKLAN congress and senate trolls. That way the RepubliKLANS can continue to destroy the nation, it's natural resources, public lands, water, air, schools, etc. all of the benefit of the GOPiggies' masters.

#17 | Posted by _Gunslinger_ at 2017-10-22 11:41 PM | Reply | Newsworthy 1

Republicans in Congress are responding to their donors, not their constituents. The donors want their tax cuts and elimination of regulations. They don't give a damn about anything else.

#18 | Posted by WhoDaMan at 2017-10-23 08:40 AM | Reply | Newsworthy 3

If the super wealthy didn't benefit greatly from favorable tax plans, they would not expend so much money and effort on corrupting our government.

Trump is going to do the exact opposite of what he said and there a millions of suckers who won't care so long as Donnie hates on the same people they hate.

#19 | Posted by Sully at 2017-10-23 09:48 AM | Reply | Newsworthy 3

#19 Trump lie and screw over people? Outrageous I tells ya!

#20 | Posted by 726 at 2017-10-23 12:06 PM | Reply

Would some of the Rs who hang out here explain why D deficits are terrible but R deficits are OK?

#21 | Posted by SomebodyElse at 2017-10-23 03:04 PM | Reply

Reduced the deficit?
That means there was one.
So the National Debt continues to grow based on interest, and add in the deficit spending.
This is why both parties suck.
The followers believe reducing the amount of spending is a good thing when spending exceeds revenue. This is both parties.
Idiots all.

#22 | Posted by Petrous at 2017-10-23 03:33 PM | Reply

Look to the French in 1785...Russia in 1917...English colonies in America in 1776
sooner or later, class warfare will occur. the trouble is, you could see how a wannabe despot
like we have now, could go for a two-fer. start it with NK..inevitable protests lead to martial
law, and fire mueller.

#23 | Posted by ABlock at 2017-10-23 04:38 PM | Reply

#22

That's idiotic.

One party wants to cut taxes and spend more on military. The other wants to invest in education and infrastructure to keep us economically competitive. Not the same.

#24 | Posted by Sycophant at 2017-10-23 06:18 PM | Reply | Newsworthy 3

#22 | POSTED BY PETROUS

This deficit issue is a political one. The debt issue is a managerial problem, not a fiscal problem. Why don't people understand that the debt never ever has to be paid off because the US federal government is not a living being with an expiration?

#25 | Posted by IndianaJones at 2017-10-23 06:55 PM | Reply

Deficits only matter when a Democratic president is in the WH. Everybody knows that. Stop pretending it isn't true.

#26 | Posted by chuffy at 2017-10-24 12:20 AM | Reply

WTF happened to not "taxing our grandchildren"?

#27 | Posted by b_al at 2017-10-24 04:36 PM | Reply

But...but...how ELSE are we to pay for our tax cuts?

--the GOP congress--

Quick! Investigate Hillary Clinton for having a computer!

#28 | Posted by e1g1 at 2017-10-24 11:00 PM | Reply

Eberly:
How many business owners are making 2 million or more a year?
And you believe the future hangs on yet another tax cut for them?

Man, you must have been dead or comatose during the 1980s, when it was done then, with no result to the economy.
You also must have been comatose during the last few years when Kansas did the same thing and nearly crashed their economy.

#29 | Posted by e1g1 at 2017-10-24 11:04 PM | Reply

"all of the benefit of the GOPiggies' masters."

In the past I might have thought your comments were over the top, not today. They are exactly the truth.
As Jimmy Carter said, we do not live in a democracy any more, we live in an oligarchy.

#30 | Posted by danni at 2017-10-25 06:43 AM | Reply

We never lived in a Democracy.

#31 | Posted by Federalist at 2017-10-25 07:16 AM | Reply

#31

You never we're sane.

#32 | Posted by Zed at 2017-10-25 07:20 AM | Reply

WTF happened to not "taxing our grandchildren"?

#27 | POSTED BY B_AL

Did you really believe that when Trump and the Republicans said it? Honestly that naive?

#33 | Posted by Sycophant at 2017-10-25 12:23 PM | Reply

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