What happens when taxes are cut "massively"? [View all]

[kentuck]

The deficits will skyrocket. Our debt will be on a dangerous course upward. Something will have to be done before the first year is over.

The first solution is cuts to social programs. Then there will be cuts to programs such as NASA, NPR, Veterans Hospitals, etc. If that does not stop the hemorrhaging of revenues, then they will have to search for some way to raise "fees". (not taxes) This would be something like making the Interstate Highway System an Interstate Tollway. They could also raise gasoline taxes somewhat. Then, if all else failed, they would raise the limit on FICA taxes to $150,000, as a last resort, with the excuse that it is to save Social Security for the future.

There is little doubt but that there will be huge deficits under Donald Trump and the Republicans. We can anticipate something like the above list of cuts and fees to happen in the second year of Trump and the Republicans.

As usual, with Republican leaders, the economy will start to lose jobs and people at the bottom will be worse off. Meanwhile, those at the top get more and more...