President Trump

[Liar Loan]

I vote against my own interests all the time.  Not because I'm being played, but because my vote is based on what's best for the country as a whole.

 

[morekaos]

Again, mark my words...this bill will gain popularity, when jobs are created, taxed paychecks get bigger and increased tax revenues pay down the deficits, the dems will howl like stuck pigs screaming we need to raise taxes, we will retain control of both houses. 
https://youtu.be/rqhwiXPQ2Dk

 

[Irvinecommuter]

Again, mark my words...this bill will gain popularity, when jobs are created, taxed paychecks get bigger and increased tax revenues pay down the deficits, the dems will howl like stuck pigs and we will retain control of both houses. 

Yes...if the plan does what  the GOP says it will, I am sure they will not lose either house.  Betting odds say that plan fails and fails miserably.

Policymakers enacted the 2001 and 2003 tax cuts with the promise that they would ?pay for themselves? by delivering increased economic growth, which would generate higher tax revenues.[11]  But even President Bush?s Treasury Department estimated that under the most optimistic scenario, the tax cuts would at best pay for less than 10 percent of their long-term cost with increased growth.[12]

Evidence suggests that the tax cuts ? particularly those for high-income households ? did not improve economic growth or pay for themselves, but instead ballooned deficits and debt and contributed to a rise in income inequalit

https://www.cbpp.org/research/federal-tax/the-legacy-of-the-2001-and-2003-bush-tax-cuts

 

[fortune11]

Hate to bring everyone  back to reality again but have we forgotten the tax cuts checks sent by Bush junior ?

Or the stimulus checks from Obama ?

Cash for clunkers ? 

How long did that " glow " last

Only suckers fall for this $1000 one time gimmick .  Yes, that will put your kids through college ...

While old rich dudes driving Bentleys in Pelican Hill are finally satisfied their $10,000 a plate dinners w Mike Pence put to good use now as they can leave their 22 million plus estate to their over privileged kids tax free . that's what we 're all about now aren't we

 

[morekaos]

Hate to bring everyone  back to reality again but have we forgotten the tax cuts checks sent by Bush junior ?

Or the stimulus checks from Obama ?

Cash for clunkers ? 

How long did that " glow " last

Only suckers fall for this $1000 one time gimmick .  Yes, that will put your kids through college ...

While old rich dudes driving Bentleys in Pelican Hill are finally satisfied their $10,000 a plate dinners w Mike Pence put to good use now as they can leave their 22 million plus estate to their over privileged kids tax free . that's what we 're all about now aren't we

I was against those government giveaways. They only cost taxpayers and benefited unions. The distinct difference here is those $1000 checks are coming from private companies not the government.

 

[fortune11]

Hate to bring everyone  back to reality again but have we forgotten the tax cuts checks sent by Bush junior ?

Or the stimulus checks from Obama ?

Cash for clunkers ? 

How long did that " glow " last

Only suckers fall for this $1000 one time gimmick .  Yes, that will put your kids through college ...

While old rich dudes driving Bentleys in Pelican Hill are finally satisfied their $10,000 a plate dinners w Mike Pence put to good use now as they can leave their 22 million plus estate to their over privileged kids tax free . that's what we 're all about now aren't we

I was against those government giveaways. They only cost taxpayers and benefited unions. The distinct difference here is those $1000 checks are coming from private companies not the government.

They are coming from the 1,5 trillion deficit that is on you, me and all our children . 

What happens if we hit a recession tomorrow ?  With all the deficit printing going on , do we even have the capacity to recover from it .  What will happen to mortgage rates then

this bill is all about short term PR boost .  But the media is not looking good so far on this .  I am always willing to keep an open mind , but understand that 2 companies sending out postage stamp size checks does not make for a meaningful boost to consumer spending

 

[irvinebullhousing]

Again, mark my words...this bill will gain popularity, when jobs are created, taxed paychecks get bigger and increased tax revenues pay down the deficits, the dems will howl like stuck pigs and we will retain control of both houses. 

Yes...if the plan does what  the GOP says it will, I am sure they will not lose either house.  Betting odds say that plan fails and fails miserably.

Policymakers enacted the 2001 and 2003 tax cuts with the promise that they would ?pay for themselves? by delivering increased economic growth, which would generate higher tax revenues.[11]  But even President Bush?s Treasury Department estimated that under the most optimistic scenario, the tax cuts would at best pay for less than 10 percent of their long-term cost with increased growth.[12]

Evidence suggests that the tax cuts ? particularly those for high-income households ? did not improve economic growth or pay for themselves, but instead ballooned deficits and debt and contributed to a rise in income inequalit

https://www.cbpp.org/research/federal-tax/the-legacy-of-the-2001-and-2003-bush-tax-cuts

This will lead to another, miserable crash unlike anything we've seen. This is all engineered from the getgo. This is how the rich control and stay in control. The wealth of the 1 % is real and about the get real big. Once, the accummulation taken place which starting after the tax passed it will run for awhile until the accummulation stalled. Well before it stalled, it will time properly and precisely cash out and the rug will be pulled. The American think they are getting a heist now from the most unpopular tax bill that is about to go into law, this is is not even close. The biggest heist will be the next epic crash that put us all in perils of humanity.

 

[morekaos]

We will be fine.

 

[Irvinecommuter]

We will be fine.

If you say so...I thought Trump said the world was about to collapse without him or the tax bill.

 

[fortune11]

We will be fine.

If you say so...I thought Trump said the world was about to collapse without him or the tax bill.

Ha , I think he also said it was the biggest most yuugest tax cut ever : ) completely ignoring Raegan and Bush junior 's era ...

 

[morekaos]

We will be fine.

If you say so...I thought Trump said the world was about to collapse without him or the tax bill.

And look...we are saved

 

[notTHEoc]

Interesting to keep in mind that the tax cuts in 2009 gave a larger tax cut to 75% of families and way larger tax cut for the bottom 50% of families (compared to the Trump cuts). Those tax cuts in 2009 were going to be bigger but there was a huge obsession with the national debt at the time so they had to be scaled back. At least the 2009 cuts were very directly targetted to groups with the highest propensity to spend/invest whereas these cuts have a lot of handouts to groups with a very low propensity to spend/invest.

 

[fortune11]

Interesting to keep in mind that the tax cuts in 2009 gave a larger tax cut to 75% of families and way larger tax cut for the bottom 50% of families. Those tax cuts in 2009 were going to be bigger but there was a huge obsession with the national debt at the time so they had to be scaled back. At least the 2009 cuts were very directly targetted to groups with the highest propensity to spend/invest whereas these cuts have a lot of handouts to groups with a very low propensity to spend/invest.

+1  well said

 

[usctrojancpa]

Again, mark my words...this bill will gain popularity, when jobs are created, taxed paychecks get bigger and increased tax revenues pay down the deficits, the dems will howl like stuck pigs and we will retain control of both houses. 

Yes...if the plan does what  the GOP says it will, I am sure they will not lose either house.  Betting odds say that plan fails and fails miserably.

Policymakers enacted the 2001 and 2003 tax cuts with the promise that they would ?pay for themselves? by delivering increased economic growth, which would generate higher tax revenues.[11]  But even President Bush?s Treasury Department estimated that under the most optimistic scenario, the tax cuts would at best pay for less than 10 percent of their long-term cost with increased growth.[12]

Evidence suggests that the tax cuts ? particularly those for high-income households ? did not improve economic growth or pay for themselves, but instead ballooned deficits and debt and contributed to a rise in income inequalit

https://www.cbpp.org/research/federal-tax/the-legacy-of-the-2001-and-2003-bush-tax-cuts

This will lead to another, miserable crash unlike anything we've seen. This is all engineered from the getgo. This is how the rich control and stay in control. The wealth of the 1 % is real and about the get real big. Once, the accummulation taken place which starting after the tax passed it will run for awhile until the accummulation stalled. Well before it stalled, it will time properly and precisely cash out and the rug will be pulled. The American think they are getting a heist now from the most unpopular tax bill that is about to go into law, this is is not even close. The biggest heist will be the next epic crash that put us all in perils of humanity.

What do you think will cause the next crash?  War?  Rates goes up significantly? 

 

[notTHEoc]

What do you think will cause the next crash?  War?  Rates goes up significantly?

IMO, The next major *long-term* risk is going to be very different in nature because you have to go back to the 1920s to find something with a similar cause.

People usually talk about wealth and income inequality as a social problem. It's also an economic problem. More inequality -> less aggregate demand -> erosion in business investment/activity. The problem is easily masked right now because of full employment and policy that has driven financial assets to record highs. But a lot of data shows wealth/income inequality currently at 75-100 year high levels.

This tax cut, due to poor design, may be good for financial assets short-term, but bad for the real economy longer-term.

Short-term, the next crash won't happen until you have a cyclical recession (or a war). And there is almost nothing signalling a recession for at least the next 12-18mo.

 

[morekaos]

We will be fine.

If you say so...I thought Trump said the world was about to collapse without him or the tax bill.

Ha , I think he also said it was the biggest most yuugest tax cut ever : ) completely ignoring Raegan and Bush junior 's era ...

Truth is it IS the largest corporate tax cut in history.  The individual cuts are big but not as yuuuuge as the corporate side.

 

[Irvinecommuter]

We will be fine.

If you say so...I thought Trump said the world was about to collapse without him or the tax bill.

Ha , I think he also said it was the biggest most yuugest tax cut ever : ) completely ignoring Raegan and Bush junior 's era ...

Truth is it IS the largest corporate tax cut in history.  The individual cuts are big but not as yuuuuge as the corporate side.

Cut a corporate rate that no one pays.  Yeah!

 

[morekaos]

We will be fine.

If you say so...I thought Trump said the world was about to collapse without him or the tax bill.

Ha , I think he also said it was the biggest most yuugest tax cut ever : ) completely ignoring Raegan and Bush junior 's era ...

Truth is it IS the largest corporate tax cut in history.  The individual cuts are big but not as yuuuuge as the corporate side.

Cut a corporate rate that no one pays.  Yeah!

Then it should not change the deficit at all...win/win

 

[Liar Loan]

We will be fine.

If you say so...I thought Trump said the world was about to collapse without him or the tax bill.

Ha , I think he also said it was the biggest most yuugest tax cut ever : ) completely ignoring Raegan and Bush junior 's era ...

Truth is it IS the largest corporate tax cut in history.  The individual cuts are big but not as yuuuuge as the corporate side.

Cut a corporate rate that no one pays.  Yeah!

Then it should not change the deficit at all...win/win

Haha... They can't have it both ways.

 

[Liar Loan]

They are coming from the 1,5 trillion deficit that is on you, me and all our children . 

It's hard to take this argument seriously when the people making it supported Obama's $6 trillion deficit just a few short years ago.

Not only that, but where were you when Obama cut taxes in 2009, and also when he proposed cutting the corporate tax rate in 2012?  Were your children fine back then?

This all boils down to one thing... opposition to Trump. 

If Obama had proposed this exact same tax bill, the media would be declaring it the greatest tax reform bill of our lifetimes, and all of the lefty TI posters would be talking about how sensible it is.