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User avatar
Francoflier
Posts: 4462
Joined: Wed Oct 31, 2001 12:27 pm

Re: Tax reform win.

Wed May 02, 2018 2:31 am

casinterest wrote:
Tom Price has reversed his position and declared that the repeal of the individual mandate will cost people more money for insurance


That was evident from the start, but now that the measure has passed, they just don't see the need to lie anymore.
I'll do my own airline. With Blackjack. And hookers. In fact, forget the airline.
 
seb146
Posts: 17296
Joined: Wed Dec 01, 1999 7:19 am

Re: Tax reform win.

Wed May 02, 2018 2:42 am

More tax reform winning

https://www.dailykos.com/stories/2018/5 ... st-Quarter

Republican controlled government borrowed the most money since the 2008 financial collapse. But, hey... At least that one teacher can afford a Costco membership!

Google a different source if you don't like this one.
You bet I'm pumped!!! I just had a green tea!!!
 
User avatar
casinterest
Posts: 6562
Joined: Sat Feb 12, 2005 5:30 am

Re: Tax reform win.

Wed May 02, 2018 1:39 pm

seb146 wrote:
More tax reform winning

https://www.dailykos.com/stories/2018/5 ... st-Quarter

Republican controlled government borrowed the most money since the 2008 financial collapse. But, hey... At least that one teacher can afford a Costco membership!

Google a different source if you don't like this one.


I think the image from that article is important to post here.

Image
Older than I just was ,and younger than I will soo be.
 
seb146
Posts: 17296
Joined: Wed Dec 01, 1999 7:19 am

Re: Tax reform win.

Wed May 02, 2018 5:33 pm

casinterest wrote:
seb146 wrote:
More tax reform winning

https://www.dailykos.com/stories/2018/5 ... st-Quarter

Republican controlled government borrowed the most money since the 2008 financial collapse. But, hey... At least that one teacher can afford a Costco membership!

Google a different source if you don't like this one.


I think the image from that article is important to post here.

Image


Thank you. I am terrible with posting images.

It really does look like this administration is trying to undo everything that was done under Obama...

Edited for grammar
You bet I'm pumped!!! I just had a green tea!!!
 
aviationaware
Posts: 1910
Joined: Mon May 19, 2014 12:02 pm

Re: Tax reform win.

Wed May 02, 2018 6:25 pm

seb146 wrote:
It really does look like this administration is trying to undo everything that was done under Obama...


What, like the huge deficit? Would be too nice, but unfortunately Republicans are just as uncontrolled spenders as Democrats...
 
tommy1808
Posts: 8122
Joined: Thu Nov 21, 2013 3:24 pm

Re: Tax reform win.

Wed May 02, 2018 6:32 pm

aviationaware wrote:
seb146 wrote:
It really does look like this administration is trying to undo everything that was done under Obama...


What, like the huge deficit? Would be too nice, but unfortunately Republicans are just as uncontrolled spenders as Democrats...


Last time I checked the President isn't the one with access to spending approbation, that would be congress, and who had majorities there again?

Best regards
Thomas
This Singature is a safe space......
 
seb146
Posts: 17296
Joined: Wed Dec 01, 1999 7:19 am

Re: Tax reform win.

Wed May 02, 2018 6:57 pm

aviationaware wrote:
seb146 wrote:
It really does look like this administration is trying to undo everything that was done under Obama...


What, like the huge deficit? Would be too nice, but unfortunately Republicans are just as uncontrolled spenders as Democrats...


Stop with the "but both sides do it" to justify Republicans being irresponsible. Republicans claim to be fiscally responsible but put this country deeper and deeper in debt. YOUR party. The self proclaimed party of fiscal responsibility is not. Do not shift blame. But, that is all Republicans can do.
You bet I'm pumped!!! I just had a green tea!!!
 
User avatar
casinterest
Posts: 6562
Joined: Sat Feb 12, 2005 5:30 am

Re: Tax reform win.

Thu May 03, 2018 6:05 pm

Krugman ( Nobel Prize winning economist says the tax cuts is a nothing burger in terms of business investment . You know the thing that was supposed to stimulate the growth that was to pay for this cut.
http://money.cnn.com/2018/05/02/news/ec ... index.html
Older than I just was ,and younger than I will soo be.
 
User avatar
casinterest
Posts: 6562
Joined: Sat Feb 12, 2005 5:30 am

Re: Tax reform win.

Wed Jul 11, 2018 5:55 pm

https://thehill.com/policy/finance/3964 ... n-expected

"Two economists at the San Francisco branch of the Federal Reserve wrote Tuesday that the Republican tax cut signed into law in December will likely have less of an effect on the economy than forecasters previously thought — and possibly none at all.




The Tax cut may make no difference but to drive up debt and further weaken the US.

https://www.wsj.com/articles/u-s-federa ... 1528826767

U.S. Budget Deficit Widens 23% October Through May on Weak Revenue Growth
Older than I just was ,and younger than I will soo be.
 
910A
Posts: 1257
Joined: Sat Apr 04, 2015 2:11 am

Re: Tax reform win.

Wed Jul 11, 2018 10:41 pm

As for the employees benefiting with salary increases...http://www.latimes.com/business/hiltzik ... story.html

The underlying cause of the “labor shortage” is hiding in plain sight. It’s the long-term trend of funneling the gains from labor productivity not to the workforce, but to shareholders. As with any addiction, this process produces short-term euphoria, reflected in share prices, but long-term pathology, reflected in income inequality, poverty and social unrest.
But it’s been going on so long that the addicts, that is, corporate CEOs and their mouthpieces, have forgotten how to respond. The CNBC piece observed, as though this is a new discovery, that “employers are going to have to start doing more to entice workers, likely through pay raises, training and other incentives.” The harvest will be lower corporate earnings, Goldman Sachs has warned.
 
User avatar
einsteinboricua
Posts: 6467
Joined: Thu Apr 15, 2010 4:11 pm

Re: Tax reform win.

Wed Jul 11, 2018 11:12 pm

910A wrote:
As for the employees benefiting with salary increases..

You would think that for a tax reform that has been in effect since January we'd start seeing a more dramatic increase in wage growth when the unemployment numbers come out every month. After all, that was the main selling point: lower the tax burden on corporations and "job creators" and the savings will be released onto the Average Joe.
"You haven't seen a tree until you've seen its shadow from the sky."
 
User avatar
casinterest
Posts: 6562
Joined: Sat Feb 12, 2005 5:30 am

Re: Tax reform win.

Thu Jul 12, 2018 3:30 pm

einsteinboricua wrote:
910A wrote:
As for the employees benefiting with salary increases..

You would think that for a tax reform that has been in effect since January we'd start seeing a more dramatic increase in wage growth when the unemployment numbers come out every month. After all, that was the main selling point: lower the tax burden on corporations and "job creators" and the savings will be released onto the Average Joe.


Well now with the Trade Tariffs, Farmers and the middle class are going to take a hit with the higher costs for goods and raw materials.

Looks like Trump is Extremely good at making everyone else pay for his mistakes.


https://www.marketwatch.com/story/what- ... 2018-07-11


To make problems worse for Farmers, they have a bumper crop of Soybeans coming this year, which will lower prices even more for a product they might not be able to sell all of at all.
Older than I just was ,and younger than I will soo be.
 
User avatar
casinterest
Posts: 6562
Joined: Sat Feb 12, 2005 5:30 am

Re: Tax reform win.

Mon Jul 16, 2018 2:09 pm

Oh look ,
Real worker wages have FALLEN since the tax cuts took effect. All that Growth is still not happening.

https://www.cbsnews.com/news/worker-wag ... D=ref_fark

"Worker pay in the second quarter dropped nearly one percent below its first-quarter level, according to the PayScale Index, one measure of worker pay. When accounting for inflation, the drop is even steeper. Year-over-year, rising prices have eaten up still-modest pay gains for many workers, with the result that real wages fell 1.4 percent from the prior year, according to PayScale. The drop was broad, with 80 percent of industries and two-thirds of metro areas affected."
Older than I just was ,and younger than I will soo be.
 
User avatar
VTKillarney
Posts: 417
Joined: Mon Jan 22, 2018 3:13 pm

Re: Tax reform win.

Mon Jul 16, 2018 7:53 pm

I am sure that the right is salivating at the idea that the Democrats in 2020 will remind everyone that they are opposed to Trump's tax cuts.
 
User avatar
Tugger
Posts: 7859
Joined: Tue Apr 18, 2006 8:38 am

Re: Tax reform win.

Mon Jul 16, 2018 7:55 pm

casinterest wrote:
Oh look ,
Real worker wages have FALLEN since the tax cuts took effect. All that Growth is still not happening.

https://www.cbsnews.com/news/worker-wag ... D=ref_fark

"Worker pay in the second quarter dropped nearly one percent below its first-quarter level, according to the PayScale Index, one measure of worker pay. When accounting for inflation, the drop is even steeper. Year-over-year, rising prices have eaten up still-modest pay gains for many workers, with the result that real wages fell 1.4 percent from the prior year, according to PayScale. The drop was broad, with 80 percent of industries and two-thirds of metro areas affected."

Had Trump not lied and failed with his tax cut some of this would not have happened. As I said at the start of this thread the top tax bracket should have simply been raised one or two points, that would have solved a hell of a lot of the loss. Of course the the Republicans and their fundraisers/backers could never have swallowed that. People don't understand that the top must be raised if what Trump committed to is to be.

To restate, while he was pushing for a tax cut Trump clearly said:

“The rich will not be gaining at all with this plan,” [...] “If they have to go higher, they’ll go higher.”
http://fortune.com/2017/09/13/donald-tr ... americans/

"Our framework includes our explicit commitment that tax reform will protect low-income and middle-income households, not the wealthy and well-connected,” [...] ", and it’s not good for me. Believe me."
https://www.theatlantic.com/business/ar ... ch/541584/

Yet "the rich" are clearly the biggest gainers of the tax cut. Or did I miss something? I know for me the AMT change alone has altered my tax hit quite nicely.

But you know, a few hundred companies gave their employees a one time bonus of $1,000.00 so that makes everything alright.

Now if every company that benefited from the tax changes had instead given all employees an additional $1,000.00 in annual pay then you might have something. That would be something real that would directly help the lowest paid employees (the rich/highly paid not so much because $1,000.00 isn't a whole hell of a lot in the grand scheme of annual expenses) and would have flowed most quickly back into the economy.

Tugg
Last edited by Tugger on Mon Jul 16, 2018 8:00 pm, edited 1 time in total.
I don’t know that I am unafraid to be myself, but it is hard to be somebody else. -W. Shatner
 
User avatar
casinterest
Posts: 6562
Joined: Sat Feb 12, 2005 5:30 am

Re: Tax reform win.

Thu Jul 19, 2018 5:46 pm

https://www.marketwatch.com/story/us-de ... 2018-07-19

"The budget proposal released in February showed annual deficits totaling $7.1 trillion over 10 years. The latest revisions increase these cumulative deficits by $926 billion, to $8 trillion.

"

Remember the average FAMILY was supposed to get a tax cut of 1182 per year. There are only about 140 million Individual returns.

That is 165 BILLION dollars. Currently the government is now adding 92.6 billion per year, on top of the deficit that will result from this non growth the government is pushing.

Remember, most are making less than 1182 per year as a family as the rich are getting more. The poor are paying for the rich people's tax cuts.
Older than I just was ,and younger than I will soo be.
 
seb146
Posts: 17296
Joined: Wed Dec 01, 1999 7:19 am

Re: Tax reform win.

Thu Jul 19, 2018 6:00 pm

casinterest wrote:
https://www.marketwatch.com/story/us-deficit-now-projected-to-top-1-trillion-starting-next-year-2018-07-19

"The budget proposal released in February showed annual deficits totaling $7.1 trillion over 10 years. The latest revisions increase these cumulative deficits by $926 billion, to $8 trillion.

"

Remember the average FAMILY was supposed to get a tax cut of 1182 per year. There are only about 140 million Individual returns.

That is 165 BILLION dollars. Currently the government is now adding 92.6 billion per year, on top of the deficit that will result from this non growth the government is pushing.

Remember, most are making less than 1182 per year as a family as the rich are getting more. The poor are paying for the rich people's tax cuts.


And Republicans want to gut Social Security and Medicare to pay for this. That would be a one time payment toward the debt. After that, then what? Both the debt and deficit are out of control, thanks to the financial responsibility of the Republican party. And they want to take money and health care away from seniors and disabled people on top of it.
You bet I'm pumped!!! I just had a green tea!!!
 
jetero
Posts: 3412
Joined: Sat Oct 11, 2014 3:45 am

Re: Tax reform win.

Thu Jul 19, 2018 6:04 pm

seb146 wrote:
And Republicans want to gut Social Security and Medicare to pay for this. That would be a one time payment toward the debt.


True they want to reduce entitlements, but your logic is not quite right there as to how that would work out mechanically.
 
seb146
Posts: 17296
Joined: Wed Dec 01, 1999 7:19 am

Re: Tax reform win.

Thu Jul 19, 2018 6:06 pm

jetero wrote:
seb146 wrote:
And Republicans want to gut Social Security and Medicare to pay for this. That would be a one time payment toward the debt.


True they want to reduce entitlements, but your logic is not quite right there as to how that would work out mechanically.


First off, WE pay into those two entitlements, so, yes we are all entitled to them.

Second, how would it not work out like that mechanically?
You bet I'm pumped!!! I just had a green tea!!!
 
jetero
Posts: 3412
Joined: Sat Oct 11, 2014 3:45 am

Re: Tax reform win.

Thu Jul 19, 2018 6:18 pm

seb146 wrote:
jetero wrote:
seb146 wrote:
And Republicans want to gut Social Security and Medicare to pay for this. That would be a one time payment toward the debt.


True they want to reduce entitlements, but your logic is not quite right there as to how that would work out mechanically.


First off, WE pay into those two entitlements, so, yes we are all entitled to them.

Second, how would it not work out like that mechanically?


I'm not arguing that entitlements should be cut back, seb.

I am not aware of any proposal to use the Social Security Trust Funds to pay down the deficit as you describe. Obviously, other things equal, if you reduce entitlements over the long term it will have an effect over time in reducing the budget deficit and the debt because you'll be paying out less.
 
seb146
Posts: 17296
Joined: Wed Dec 01, 1999 7:19 am

Re: Tax reform win.

Thu Jul 19, 2018 6:40 pm

jetero wrote:
seb146 wrote:
jetero wrote:

True they want to reduce entitlements, but your logic is not quite right there as to how that would work out mechanically.


First off, WE pay into those two entitlements, so, yes we are all entitled to them.

Second, how would it not work out like that mechanically?


I'm not arguing that entitlements should be cut back, seb.

I am not aware of any proposal to use the Social Security Trust Funds to pay down the deficit as you describe. Obviously, other things equal, if you reduce entitlements over the long term it will have an effect over time in reducing the budget deficit and the debt because you'll be paying out less.


But the reduction on the debt and deficit are near nothing, if those two programs are cut. With no social safety net, no health care, people will be dying at a higher rate and there will be more people on the streets, as people will not be able to afford housing or utilities or food. I guess we will have to turn to soylent for nutrition. (extreme hyperbole)
You bet I'm pumped!!! I just had a green tea!!!
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