House Passes One Big Beautiful Bill

[Big Blitz]

 

Since when have libertarians argued that NOT raising taxes “costs” the government money? Private money yet to be earned does not “belong” to the government. This is a Democrat-collectivist argument and I’m shocked to see libertarians deploying it.

 

Under this ludicrous theory, one could raise taxes to 90% on everyone and declare the deficit solved.

[BillsFanNC]

I see some self-described libertarians siding with lefty bureaucrats at CBO who claim the Big Beautiful Bill will “explode the debt.” This is based entirely on CBO claiming that extending the current tax rates (not raising them) will “cost” the government $4 trillion in revenue.

Since when have libertarians argued that NOT raising taxes “costs” the government money? Private money yet to be earned does not “belong” to the government. This is a Democrat-collectivist argument and I’m shocked to see libertarians deploying it.

 

Under this ludicrous theory, one could raise taxes to 90% on everyone and declare the deficit solved.

 

BBB cuts taxes, cuts spending, reforms welfare and *ends mass migration*.

On the last point, anyone serious about limited government and improving America’s financial health would understand that ending mass migration is the prerequisite for every other problem we wish to solve.

Of course, true libertarians don’t believe in borders at all…

[Joe Ferguson forever]

A primer on how the government funds the deficit.  Should be required reading for every American.

[All_Pro_Bills]

13 minutes ago, Joe Ferguson forever said:

A primer on how the government funds the deficit.  Should be required reading for every American.

A prerequisite to that is how the global dollar reserve and trade settlement system works. Those arrangements enable huge annual deficits and U.S. government spending without the impacting inflation all that money creation would have on any other nation.

 

As for how the government funds the deficits its pretty simple. They issue treasury paper which is generally purchased by foreign central banks with excess dollars acquired from trade surpluses with the U.S. That's what makes much of Trump's tariff fight unproductive. If we don't run a trade deficit where are all these foreigners going to get the dollars to purchase treasuries to fund the deficit?