The Federal government “creates money” by printing it into existence. Businesses and workers create “value” for that money by providing goods and services that that money can purchase. People who work for the government also create “value” for that money by building structures and maintaining them, which provide for the common good of the country, then their wages create more “value” for that money by their purchasing power,
The taxes that Mr. DeVol pays do not create money, those taxes return some of the money the government created to the government with that value added. Mr. DeVol claimed that Mr. Quiles was wrong in stating that all Republican presidents have increased the deficit by cherry picking the fact that George W. Bush had a surplus in his first year in office. While that is true, the reason he had that surplus was because the Clinton administration had balanced the budget and was paying down the national debt. Almost immediately upon taking office, Bush did what Republicans have done since, and including Reagan, he gave some small tax relief to us little folks while lavishing large tax cuts on the wealthy leading to a much larger debt, a much greater deficit and the greatest recession since the “Great Depression.”
Obama did, indeed, have to do a huge amount of deficit spending to wade our way out of that same recession but once the economy recovered, he spent the rest of his administration reducing the deficit, though not eliminating it completely. Trump comes into office with a thriving economy but a pretty large deficit to deal with and the way he dealt with it was to pass more huge tax cuts for the wealthy, completely exploding the deficit and the national debt.
The only time Republicans care about the deficit is when they aren’t in the White House, then it’s all about, “Oh, we have to cut food stamps, Oh, we have to cut medicare, Oh, we have to cut social security, Oh, we have to keep making things ever harder on the middle and lower class, all the while maintaining those tax cuts for the super wealthy.”
I’m old enough to remember when we had the largest and most successful middle class in the world in the 50s, 60s and 70s. Then Reagan started the “Trickle Down” theory and it has never trickled down — what it has done is created the largest disparity between the rich and everyone else in the history of our country. In almost every country with this kind of disparity, in the past, has led to violent revolution, and I can only hope our country doesn’t come to that.
Unfortunately, the Democratic leadership have become, for the most part, just like the Republicans in that they, too, only cater to their wealthy donors. For all intents and purposes our country has a fascist government, that is, of, for and by big business — all we need to complete that format is the dictator that Trump wishes to be.