(12-20-2017, 04:19 PM)The Real Marty Wrote: [ -> ] (12-20-2017, 04:14 PM)Senor Fantastico Wrote: [ -> ]I’m a small business owner and I will be hiring 0% more people, give out 0% raises, and be pocketing 100% more of the extra money now not going to taxes.
(12-20-2017, 04:18 PM)StroudCrowd1 Wrote: [ -> ]The debt doubled under Obama. He accumulated more debt than all of the other US Presidents combined. Now all of a sudden, the left has become fiscally responsible complaining about adding 1.5T to the debt. Give me a break...
The reverse is also true, isn't it? Republicans complained about all the additions to the debt under Obama, but now it's just fine and dandy.
Sure, there are arguments for both sides, but I am taking the "whats good for me is good for me" approach on this one. A 4% tax decrease for my bracket, double the standard deduction, and an increased child credit.
(12-20-2017, 04:19 PM)The Real Marty Wrote: [ -> ] (12-20-2017, 04:18 PM)StroudCrowd1 Wrote: [ -> ]The debt doubled under Obama. He accumulated more debt than all of the other US Presidents combined. Now all of a sudden, the left has become fiscally responsible complaining about adding 1.5T to the debt. Give me a break...
The reverse is also true, isn't it? Republicans complained about all the additions to the debt under Obama, but now it's just fine and dandy.
No way man. Not republicans. They're always right.
Democrats had 8 years to come up with tax reform but choose to destroy health care instead. The big boys have taken over now.
(12-20-2017, 02:50 PM)StroudCrowd1 Wrote: [ -> ] (12-20-2017, 02:46 PM)TJBender Wrote: [ -> ]Oh good, my taxes go down for a few years then spike again, but that's ok because Comcast will still only be paying 21% of whatever it doesn't hide offshore to tell me I can't use Netflix.
Ok Mr. Schumer, gonna go with the Comcast road huh?
I'm gonna go down the road of the 5 guys I know who own small businesses and are going to use the 14% going back into their pockets to grow their businesses and hire people.
I'm all in favor of supporting small business. I'd love to see the Comcasts of the US pay a much higher tax rate than they do, much much more than they will, and I'd like to see laws that end the use of overseas tax shelters by heavily penalizing that income. But that won't happen under an administration that has already made its disdain for everyday people very well known.
(12-20-2017, 04:46 PM)TJBender Wrote: [ -> ] (12-20-2017, 02:50 PM)StroudCrowd1 Wrote: [ -> ]Ok Mr. Schumer, gonna go with the Comcast road huh?
I'm gonna go down the road of the 5 guys I know who own small businesses and are going to use the 14% going back into their pockets to grow their businesses and hire people.
I'm all in favor of supporting small business. I'd love to see the Comcasts of the US pay a much higher tax rate than they do, much much more than they will, and I'd like to see laws that end the use of overseas tax shelters by heavily penalizing that income. But that won't happen under an administration that has already made its disdain for everyday people very well known.
Someday you'll understand that Comcast doesn't pay taxes. When you come to that realization you'll have to find a new boogeyman to scare us with.
And the trickle down begins:
https://www.cnbc.com/2017/12/20/tax-refo...oyees.html
The telecom giant said in a press release Wednesday that it would give more than 200,000 U.S. union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S.
(12-20-2017, 05:00 PM)flsprtsgod Wrote: [ -> ]And the trickle down begins:
https://www.cnbc.com/2017/12/20/tax-refo...oyees.html
The telecom giant said in a press release Wednesday that it would give more than 200,000 U.S. union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S.
NOOOOOOOOOOOOOOOOO Money BAD!
Boeing is taking action as well, declaring that it will make a $300 million employee-related and charitable investment thanks to tax reform.
It will be interesting to see if Trump's $1 trillion infrastructure promise will be remembered in this euphoria. It has to be done, and it won't be free.
(12-20-2017, 06:03 PM)rollerjag Wrote: [ -> ]It will be interesting to see if Trump's $1 trillion infrastructure promise will be remembered in this euphoria. It has to be done, and it won't be free.
He'll just "reform" taxes on the middle class while keeping upper class taxes low, because they already pay so many dollars more than us peons that it's only fair we pick up the slack.
It's not real money anyway, so don't worry about it.
What's neglected in the argument about the debt is that if the tax stayed high companies would continue to move overseas and thus create more revenue loss than the tax cut creates. 20% of something is more than 40% of nothing. This bill increases the deficit, but not as much as doing nothing. It's even possible that some companies will return to the US, adding their corporate taxes and the income taxes of their employees to the US revenue pot. Predictions are all over the place on this. We'll see.
Ideally the Feds would cut spending to eliminate the deficit, but since we're talking about government there's no chance to get anything close to ideal. This bill is an improvement on the status quo, which is the best we can expect.
Trump gets the credit or blame, but the tax cut really belongs to the Republican Party as a whole. I'd guess that had some other Pub won out over Trump and been elected President we'd still have essentially the same bill.
What drum are Chuck and Nancy going to beat now? Dems are in serious trouble.
I'm still waiting for Mexico to pay us all the money they owe us in order to build "the wall" Trump promised.
(12-21-2017, 12:39 AM)TheO-LineMatters Wrote: [ -> ]I'm still waiting for Mexico to pay us all the money they owe us in order to build "the wall" Trump promised.
It's coming. You should know by now Trump is a man of his word.
(12-20-2017, 10:30 PM)MalabarJag Wrote: [ -> ]What's neglected in the argument about the debt is that if the tax stayed high companies would continue to move overseas and thus create more revenue loss than the tax cut creates. 20% of something is more than 40% of nothing. This bill increases the deficit, but not as much as doing nothing. It's even possible that some companies will return to the US, adding their corporate taxes and the income taxes of their employees to the US revenue pot. Predictions are all over the place on this. We'll see.
Ideally the Feds would cut spending to eliminate the deficit, but since we're talking about government there's no chance to get anything close to ideal. This bill is an improvement on the status quo, which is the best we can expect.
Trump gets the credit or blame, but the tax cut really belongs to the Republican Party as a whole. I'd guess that had some other Pub won out over Trump and been elected President we'd still have essentially the same bill.
I agree with the premise of the argument, but I'm not sure the bold part is correct.
In order to pass with 51 votes in the senate, the bill had to go through the congressional budget office. CBO has to rule that it's deficit-neutral and they did.
(12-20-2017, 02:50 PM)The Drifter Wrote: [ -> ]Watch the empoyment numbers spike and the GDP Jump also.
How do you come to this conclusion? Private companies are more efficient i thought? They wouldn't hire more or raise wages for the sake of it.
Just means more profit for shareholders.
(12-21-2017, 01:41 AM)lastonealive Wrote: [ -> ] (12-20-2017, 02:50 PM)The Drifter Wrote: [ -> ]Watch the empoyment numbers spike and the GDP Jump also.
How do you come to this conclusion? Private companies are more efficient i thought? They wouldn't hire more or raise wages for the sake of it.
Just means more profit for shareholders.
Growth, expansion, new products and markets. Money in the private sector goes to banks who invest it in companies that hire people to produce goods and services that are bought by customers who have money that didn't get stolen by the government. And yes, more profits are part of that, much to the chagrin of economically illiterate socialists everywhere. Back when Democrats weren't all out socialists one of their icons said something about a rising tide, too bad they've lost their way.
(12-20-2017, 05:00 PM)flsprtsgod Wrote: [ -> ]And the trickle down begins:
https://www.cnbc.com/2017/12/20/tax-refo...oyees.html
The telecom giant said in a press release Wednesday that it would give more than 200,000 U.S. union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S.
I do believe trickle down economics has some validity, but when the government increases its borrowing in order to cut taxes and the tax cuts go partially towards bonuses for AT&T workers, is it not true that the money came from your and my pockets? Money has been borrowed in your and my name, and the money has gone to pay bonuses to someone else. Should I be happy about that?
Is it not a bit of a con game? Money cannot be conjured out of thin air. We buy something on credit, and we think we're doing so much better than before, but are we really? Sure we have more stuff, but we also have more debt. The economy revs up, and the country goes deeper into debt.
(12-21-2017, 12:39 AM)TheO-LineMatters Wrote: [ -> ]I'm still waiting for Mexico to pay us all the money they owe us in order to build "the wall" Trump promised.
Jiminy Christmas....
I realize he said a lot of stuff would get done in his first 100 days... but with the amount of push back he's received from both sides of the aisle trying to save face, he's gotten a good bit done. And still has some time left, iirc, to get more done.
You want the wall, tax reform, healthcare reform, education reform, and infrastructure all done all at once right away...
He just got the biggest tax deal done and of course its "Oh but what about the wall? What about infrastructure"
You kids will never be satisfied.
Trump alters immigration rules? He's a racist.
Trump pushes for tax reform, he's killing the poor and helping the rich (not true) and if you like the tax bill, it's still not enough "where's my wall?"
In the political landscape you will not find a person running for office that doesn't have their fair share of nonsense and rhetoric on the trail. Trump promised to get much done in 100 days, and while it's been closer to 365, I think he's done a lot of good for the US as a whole.
But you guys would never admit to it.
Dude could turn [BLEEP] into pure gold and people would complain because they prefer silver.