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I guess in your world it,s ok to lie when you are getting elected. If you give 4/5 of the tax break to people with incomes below $75,000.00 you will have an immediate burst in the economy because those people will go out and spend the money right away. No waiting for trickle down. Corporations can just put the money in the bank, buy back stock,or pay it to stock holders. Corporations have to many other choices with what to do with the money. Actually our unemployment is so low I don,t think we need tax changes. Another thing this proposed tax cut will probably lead to a lot of inflation, since the government will have go out and sell bonds to Japan and China. What we should be doing is cut spending.
Selling bonds to Japan and China doesn't result in inflation because they have to exchange yen and yuan for dollars to buy the bonds that props up the value of the dollar and if anything results in deflation. All three things you pointed out that corporations could do with the tax cuts have long term positive effects, if they put it in the bank that increases liquidity inthe system and banks can have higher lending limits to everyone, if they pay it out In dividends the stockholders will reinvest or spend it, buying g back stock releases it into the general economy. Sorry to break it to you but if you've got a pension, 401k or ira then your one of those fat cat stock holders. All of those have less inflationary impact that everyone using their tax credit refund to to buy big screens at Walmart 4/5ths of the tax cuts go to corps and those earning over 100k because they pay more than 4/5th of the taxes. Kind of hard to have meaningful tax cuts for people who don't pay much in taxes
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Joined: Dec 2015
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I guess in your world it,s ok to lie when you are getting elected. If you give 4/5 of the tax break to people with incomes below $75,000.00 you will have an immediate burst in the economy because those people will go out and spend the money right away. No waiting for trickle down. Corporations can just put the money in the bank, buy back stock,or pay it to stock holders. Corporations have to many other choices with what to do with the money. Actually our unemployment is so low I don,t think we need tax changes. Another thing this proposed tax cut will probably lead to a lot of inflation, since the government will have go out and sell bonds to Japan and China. What we should be doing is cut spending.
Selling bonds to Japan and China doesn't result in inflation because they have to exchange yen and yuan for dollars to buy the bonds that props up the value of the dollar and if anything results in deflation. All three things you pointed out that corporations could do with the tax cuts have long term positive effects, if they put it in the bank that increases liquidity inthe system and banks can have higher lending limits to everyone, if they pay it out In dividends the stockholders will reinvest or spend it, buying g back stock releases it into the general economy. Sorry to break it to you but if you've got a pension, 401k or ira then your one of those fat cat stock holders. All of those have less inflationary impact that everyone using their tax credit refund to to buy big screens at Walmart 4/5ths of the tax cuts go to corps and those earning over 100k because they pay more than 4/5th of the taxes. Kind of hard to have meaningful tax cuts for people who don't pay much in taxes4/5ths of the tax cuts go to corps and those earning over 100k because they pay more than 4/5th of the taxes. Kind of hard to have meaningful tax cuts for people who don't pay much in taxes Spot on.
Last edited by skeen; 11/23/17.
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What gets me is Trump was elected saying all the tax cuts should go to the middle class. Is he a liar? You are right low income people don,t pay much income. But middle class people sure do. I paid 10 to 15 thousand dollars in federal taxes every year I worked. It would have been nice to get 2 or 3 thousand dollars back from what I paid. And I would have spent it fairly quickly, which would have stimulated the economy.
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Campfire Ranger
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Trump has always said the most important cut is corporate taxes down to about 20 percent. Next would be the middle class.
Get your facts straight.
Leo of the Land of Dyr
NRA FOR LIFE
I MISS SARAH
“In Trump We Trust.” Right????
SOMEBODY please tell TRH that Netanyahu NEVER said "Once we squeeze all we can out of the United States, it can dry up and blow away."
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Campfire Ranger
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Both parties make noise about it, but I’ve seen very little out of either party over my lifetime that leads me to believe they’re for the working man
Only exception is support of the 2nd by most gop. At least we’ll be armed when we gather enough sense or balls to realize they’re ought to be an open season on politicians About 20 years ago I came to the conclusion that both parties were liars, and the only difference is what lies you wanted to believe. A bit later I concluded that if I was relying on a political party for my success and well being, I'd be sorely disappointed. Someone posted that in 20 years corporations haven't raised salaries. I find it strange as in the 20 years I've been in Alaska I'm making ~ 4 times as much as when I arrived. There is a reason for that, when I got here I had almost no experience in the field I've been working in, now I have a solid 20 years and can do work I had no clue about when I started. To those who haven't seen their wages rise in 20 years, are you still only as capable as you were 20 years ago?
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Joined: Dec 2003
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Campfire Ranger
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Campfire Ranger
Joined: Dec 2003
Posts: 17,230 Likes: 2 |
Someone posted that in 20 years corporations haven't raised salaries. I find it strange as in the 20 years I've been in Alaska I'm making ~ 4 times as much as when I arrived. There is a reason for that, when I got here I had almost no experience in the field I've been working in, now I have a solid 20 years and can do work I had no clue about when I started.
To those who haven't seen their wages rise in 20 years, are you still only as capable as you were 20 years ago?
My assumption is they were talking about the same job, salary hasn't gone up. Some have gone down, corrected for inflation. What is the salary today for the job you had 20 years ago? Is it the same in loaves of bread, or Chevy Silverados? Or Remington BDLs? Whats the salary for a schoolteacher where you are? Is it the same as it was 20 years ago? Some people may have the same job they had 20 years ago. remember how we like to talk about coal miners, steelworkers and manufacturing? lots of those folks keep the same job for 20-30 years if they can.
...Actually Sycamore, you are sort of right....
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What gets me is Trump was elected saying all the tax cuts should go to the middle class. Is he a liar?.
You have to ask? There is unanimity that this tax bill will also blow the top off the deficit. That used to matter to Republicans before they set out to destroy the American economy.
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Campfire Outfitter
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Joined: Jun 2006
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Someone posted that in 20 years corporations haven't raised salaries. I find it strange as in the 20 years I've been in Alaska I'm making ~ 4 times as much as when I arrived. There is a reason for that, when I got here I had almost no experience in the field I've been working in, now I have a solid 20 years and can do work I had no clue about when I started.
To those who haven't seen their wages rise in 20 years, are you still only as capable as you were 20 years ago?
My assumption is they were talking about the same job, salary hasn't gone up. Some have gone down, corrected for inflation. What is the salary today for the job you had 20 years ago? Is it the same in loaves of bread, or Chevy Silverados? Or Remington BDLs? Whats the salary for a schoolteacher where you are? Is it the same as it was 20 years ago? Some people may have the same job they had 20 years ago. remember how we like to talk about coal miners, steelworkers and manufacturing? lots of those folks keep the same job for 20-30 years if they can. 20 years ago we paid a starting civil engineer $30,000/yr salary. Today it is over $60,000/yr.
“There are some who can live without wild things and some who cannot.” ALDO LEOPOLD
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Campfire Outfitter
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There is unanimity that this tax bill will also blow the top off the deficit. That used to matter to Republicans before they set out to destroy the American economy. Good, perhaps it will force them to make tough decisions on our out of control spending.
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Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
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Both parties make noise about it, but I’ve seen very little out of either party over my lifetime that leads me to believe they’re for the working man
Only exception is support of the 2nd by most gop. At least we’ll be armed when we gather enough sense or balls to realize they’re ought to be an open season on politicians About 20 years ago I came to the conclusion that both parties were liars, and the only difference is what lies you wanted to believe. A bit later I concluded that if I was relying on a political party for my success and well being, I'd be sorely disappointed. Someone posted that in 20 years corporations haven't raised salaries. I find it strange as in the 20 years I've been in Alaska I'm making ~ 4 times as much as when I arrived. There is a reason for that, when I got here I had almost no experience in the field I've been working in, now I have a solid 20 years and can do work I had no clue about when I started. To those who haven't seen their wages rise in 20 years, are you still only as capable as you were 20 years ago? Bingo. I'd still be working if that was the case. Some make opportunity, some wait and whine about it.
Conduct is the best proof of character.
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Campfire Tracker
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Good, perhaps it will force them to make tough decisions on our out of control spending.
Like hell. Never stopped the spending. IT WILL EXPLODE THE DEFICIT. But no one here seems to give a shot about that.
Last edited by LeroyBeans; 11/24/17.
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Just this morning Trump again said the tax bill was designed for a middle class tax break. Even Republicans agree many middle class families won.t see a tax break. Another lie. But all corporations will receive a permanent, tax break. This tax break should be trashed and forget about it. Pay down the debt. Trumps thinking is the more tax breaks you give, we will spend our way out of debt. Employment in California is at a 30 year high why do we need to mess with the economy. If it ain,t broke don,t fix it.
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Campfire Ranger
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Joined: May 2008
Posts: 25,526 Likes: 3 |
Trump promised tax reform that benefits the middle class and he also promised corporate tax reform in an attempt to repatriate the money to the USA. It seems as if he’s delivering on every promise he made.
�Politicians are the lowest form of life on earth. Liberal Democrats are the lowest form of politician.� �General George S. Patton, Jr.
--------------------------------------------------------- ~Molɔ̀ːn Labé Skýla~
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Campfire Ranger
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Good, perhaps it will force them to make tough decisions on our out of control spending.
Like hell. Never stopped the spending. IT WILL EXPLODE THE DEFICIT. But no one here seems to give a shot about that. It has been explained to you several times how tax cuts expand GNP and result in more tax revenue. The numbers has been posted. Please explain to us how having more money in the till EXPLODES the deficit? Less money in the till makes the overspending worse. Apples and oranges problem.
Last edited by BOWSINGER; 11/25/17.
Leo of the Land of Dyr
NRA FOR LIFE
I MISS SARAH
“In Trump We Trust.” Right????
SOMEBODY please tell TRH that Netanyahu NEVER said "Once we squeeze all we can out of the United States, it can dry up and blow away."
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Joined: Mar 2008
Posts: 18,994
Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
Posts: 18,994 |
Good, perhaps it will force them to make tough decisions on our out of control spending.
Like hell. Never stopped the spending. IT WILL EXPLODE THE DEFICIT. But no one here seems to give a shot about that. It has been explained to you several times how tax cuts expand GNP and result in more tax revenue. The numbers has been posted. Please explain to us how having more money in the till EXPLODES the deficit? Less money in the till makes the overspending worse. Apples and oranges problem. ONE-MORE-TIME... However, the numbers, crunched by Heritage's Brian Riedl, show otherwise (see chart below). In 1980, the last year before the tax cuts, tax revenues were $956 billion (in constant 1996 dollars).
Revenues exceeded that 1980 level in eight of the next 10 years. Annual revenues over the next decade averaged $102 billion above their 1980 level (in constant 1996 dollars).
Any increase in budget deficits was therefore the result of spending increases rather than tax cut-induced revenue decreases.Over the past 100 years, there have been three major periods of tax-rate cuts in the U.S.: the Harding-Coolidge cuts of the mid-1920s; the Kennedy cuts of the mid-1960s; and the Reagan cuts of the early 1980s. Each of these periods of tax cuts was remarkably successful as measured by virtually any public policy metric. Arthur Laffer
Last edited by BOWSINGER; 11/25/17.
Leo of the Land of Dyr
NRA FOR LIFE
I MISS SARAH
“In Trump We Trust.” Right????
SOMEBODY please tell TRH that Netanyahu NEVER said "Once we squeeze all we can out of the United States, it can dry up and blow away."
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Joined: Jul 2011
Posts: 1,792
Campfire Regular
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Campfire Regular
Joined: Jul 2011
Posts: 1,792 |
He,s not delivering on the middle class cut. He is going to spend us right into a a tax increase our kids will have to pay for.
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Joined: Mar 2008
Posts: 18,994
Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
Posts: 18,994 |
He,s not delivering on the middle class cut. He is going to spend us right into a a tax increase our kids will have to pay for.
TIME to stop feeding the TROLL...
Leo of the Land of Dyr
NRA FOR LIFE
I MISS SARAH
“In Trump We Trust.” Right????
SOMEBODY please tell TRH that Netanyahu NEVER said "Once we squeeze all we can out of the United States, it can dry up and blow away."
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Joined: Jan 2001
Posts: 21,317
Campfire Ranger
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Campfire Ranger
Joined: Jan 2001
Posts: 21,317 |
I'm curious of those grousing about Trump not delivering on a middle class tax cut what they pay as a percentage of gross income in federal taxes, or what they pay in dollars?
When my income was more modest I never paid over 10% of gross in federal income taxes for a family of five. With both my wife and I working this year as professionals with quite a few write offs we're looking at paying somewhere in the range of 17% of gross assuming I put in the correct number of deductions.
Somewhat ironic to here those who likely pay very little in taxes complaining about where is there cut in one breath, and then complaining about their kids having to pay for things in the future.
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Joined: Jul 2011
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Campfire Regular
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What are you going to do about the 13 million who will lose their health care under this tax plan? Most main stream economists doubt this tax plan will work. Whats your plan if this blows up the economy. The economy is the best it,s been in years and Trump wants to mess with it. What, s Plan B.
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Joined: Jan 2001
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Campfire Ranger
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Campfire Ranger
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For people to have healthcare, they need decent paying jobs and that requires both economic growth and for them to gain the skills required for higher paying jobs.
I put as much faith in main stream economist forecasts and global warming scientists weather forecasts.
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