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Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
Posts: 18,994 |
Every 1 % GDP nets the gov 2.2 trillion in new revenue.
3 % GDP 6.6 trillion in one year.
Do that for 4 years and you have 26 trillion +.
A rising tide lifts all boats.
dave
Trump has said that cutting regulations has already boasted GDP to 3.3% for 2017. It would have been 4% if not for all the hurricanes. The Kennedy tax cuts touched 6% GDP several times.
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: Apr 2004
Posts: 42,734
Campfire 'Bwana
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Campfire 'Bwana
Joined: Apr 2004
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If you think this tax plan is good I have some non flooding property in Houston and New Orleans and some wildfire free acres in California to sell you. So who sold it to you?
"Minus the killings, Washington has one of the lowest crime rates in the Country" Marion Barry, Mayor of Wash DC
“Owning guns is not a right. If it were a right, it would be in the Constitution.” ~Alexandria Ocasio Cortez
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Joined: Jan 2009
Posts: 5,190
Campfire Tracker
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Campfire Tracker
Joined: Jan 2009
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I assume the Death Tax is off the table? That was one of Trump's big issues.
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Joined: Dec 2007
Posts: 25,090
Campfire Ranger
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Campfire Ranger
Joined: Dec 2007
Posts: 25,090 |
Certainly not the tax overhaul I was hoping for, but I guess it’s a start.
“Life is life and fun is fun, but it's all so quiet when the goldfish die.”
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Joined: Jan 2010
Posts: 23,533
Campfire Ranger
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Campfire Ranger
Joined: Jan 2010
Posts: 23,533 |
Yep .... but just keep in mind, the individual provisions will expire by the end of 2025, but most of the corporate provisions would be permanent. So ..... there is a relative degree of certainty for individuals through 2025 .... but in 2026 I guess we are back to where we are today. That depends on who holds the balance of power between now and then. If the Dems gain control this will be rolled back before then. If the Republicans continue to hold power, we will get the other half of the loaf before then. if all this money is going to go back into the economy and additional tax revenue then why do they have individual provisions expire at all? I can't get past these tax cuts are going to generate all this tax revenue, but at the same time, we have to find ways to pay for the tax cuts by altering the tax code for individuals.
Last edited by KFWA; 12/16/17.
have you paid your dues, can you moan the blues, can you bend them guitar strings
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Joined: Jan 2005
Posts: 12,359
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2005
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per Reagan, reduce spending! if you reduce gov programs (and I would start at State Dept) at the same time as revenue grows...... guess what?? deficit goes away in a short time. never happen though. congress is addicted to the power gazillions of $ brings along with it
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Joined: Jun 2005
Posts: 2,631
Campfire Regular
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Campfire Regular
Joined: Jun 2005
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The middle class never had it as good when taxes where higher and corporations paid more in taxes.
Now the middle class has shrunken enormously while corporations have lowered their taxes considerably.
Workers wages has been stagnant for 40+ years while corporations have seen their taxes slashed right and left and managers had their incomes exploded.
Seems like a winning combo..
The US in the last 40 years:
Socialism for big corporations and military industrial complex
&
Rugged individualism for the individual.
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Joined: Oct 2004
Posts: 50,169
Campfire Kahuna
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Campfire Kahuna
Joined: Oct 2004
Posts: 50,169 |
The tax cuts are great. It's the tax give-a-ways that are the problem.
The only thing worse than a liberal is a liberal that thinks they're a conservative.
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Posts: 1,810
Campfire Regular
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Campfire Regular
Joined: Mar 2010
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Corporations can't lower their own taxes. They are also at the highest in the world. Is it reading or comprehension you have a problem with? Ed k
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Joined: Feb 2010
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Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,076 |
The middle class never had it as good when taxes where higher and corporations paid more in taxes.
Now the middle class has shrunken enormously while corporations have lowered their taxes considerably.
Workers wages has been stagnant for 40+ years while corporations have seen their taxes slashed right and left and managers had their incomes exploded.
Seems like a winning combo.. The middle class (I'm not sure how's it is defined currently) has shrunk because most who've left it went upward into the upper class. If your wages have been stagnant for 40+ years, you suck as an employee.
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Joined: Sep 2003
Posts: 23,406
Campfire Ranger
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Campfire Ranger
Joined: Sep 2003
Posts: 23,406 |
The middle class never had it as good when taxes where higher and corporations paid more in taxes.
Now the middle class has shrunken enormously while corporations have lowered their taxes considerably.
Workers wages has been stagnant for 40+ years while corporations have seen their taxes slashed right and left and managers had their incomes exploded.
Seems like a winning combo.. The middle class (I'm not sure how's it is defined currently) has shrunk because most who've left it went upward into the upper class. If your wages have been stagnant for 40+ years, you suck as an employee. Bingo. Problem is we have a growing "loser class" These are grown adults who smoke weed and live like teenagers.
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Joined: Aug 2005
Posts: 10,716
Campfire Outfitter
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Campfire Outfitter
Joined: Aug 2005
Posts: 10,716 |
The Dem's never seemed concerned about the trillions in debt added during the Obama administration while the economy stagnated.
The Dem's squawk about the "cost" of the tax cuts. It is not a cost. It is our tax money. The government doesn't produce anything. They take money from the working citizens and spend it. The government doesn't have a revenue problem, it has a spending problem. Dollars that aren't passed to the government as taxes are spent on goods and services or are saved or invested.
Higher taxes are a drain on the economy and increased overhead for businesses and passed on to consumers. Lower taxes spur the economy creating more revenue for the government, and more jobs. Win/win.
How the Dem's can wring their hands and claim the sky is falling if the tax cuts get passed is beyond me.
+1 The real problem with these types is that they have never worked in or for the private sector. They don't understand where the money comes from, only that it's there and they like to spend it.
A true sportsman counts his achievements in proportion to the effort involved and fairness of the sport. - S. Pope
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Joined: Dec 2010
Posts: 19,232
Campfire Ranger
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Campfire Ranger
Joined: Dec 2010
Posts: 19,232 |
The middle class (I'm not sure how's it is defined currently) has shrunk because most who've left it went upward into the upper class.
If your wages have been stagnant for 40+ years, you suck as an employee.
That right there is bullshyt with a capital B. According to IRS statistics 60% of working Americans make less than 20.00 an hour and that ain't a middle class income today.
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Joined: Feb 2010
Posts: 16,076
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,076 |
The middle class (I'm not sure how's it is defined currently) has shrunk because most who've left it went upward into the upper class.
If your wages have been stagnant for 40+ years, you suck as an employee.
That right there is bullshyt with a capital B. According to IRS statistics 60% of working Americans make less than 20.00 an hour and that ain't a middle class income today. What is a middle class income?
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Joined: Dec 2010
Posts: 19,232
Campfire Ranger
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Campfire Ranger
Joined: Dec 2010
Posts: 19,232 |
Last I heard a middle class income is defined as 50,000.00 - 150,000.00 per year but that was a couple three years ago.
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Joined: Feb 2010
Posts: 16,076
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,076 |
Last I heard a middle class income is defined as 50,000.00 - 150,000.00 per year but that was a couple three years ago. I guess it depends on where one lives. A family could live like royalty here on 150k, and quite comfortably on 50k.
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Joined: Jul 2011
Posts: 1,792
Campfire Regular
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Campfire Regular
Joined: Jul 2011
Posts: 1,792 |
When Reagan did this he had to increase taxes 4 times later to cover deficit. No evidence corporations
will spend money on expansion. Much will go to stock holders and salary increases for corporate
officers. No trickle down. Changes for small business will be good, most will spend the extra money
quickly. No proof economy will expand at 3.0% or higher. Middle income tax relief is temporary and
corporation tax reduction is permanent. Proof Trump and congress is only for wealthy. Glad I,m
retired. 55% of voters oppose these tax changes, when will congress listen.
Last edited by GunTruck50; 12/16/17.
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Joined: Dec 2010
Posts: 19,232
Campfire Ranger
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Campfire Ranger
Joined: Dec 2010
Posts: 19,232 |
Last I heard a middle class income is defined as 50,000.00 - 150,000.00 per year but that was a couple three years ago. I guess it depends on where one lives. A family could live like royalty here on 150k, and quite comfortably on 50k. I live in a rural area of upstate NY. The median personal income for males in this county was 28,000 according to the latest statistics and ran 27 - 29,000 in three surrounding Counties. The median household income {more than one person working in most} in all of those counties is still under 50,000. Most folks ain't livin high on the hog around here.
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Joined: Feb 2010
Posts: 16,076
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,076 |
Last I heard a middle class income is defined as 50,000.00 - 150,000.00 per year but that was a couple three years ago. I guess it depends on where one lives. A family could live like royalty here on 150k, and quite comfortably on 50k. I live in a rural area of upstate NY. The median personal income for males in this county was 28,000 according to the latest statistics and ran 27 - 29,000 in three surrounding Counties. The median household income {more than one person working in most} in all of those counties is still under 50,000. Most folks ain't livin high on the hog around here. Things are absolutely booming here. Contractors can't find help, and people begin a bidding war each time a house is listed for sale. Help wanted signs can be seen in front of nearly ever business. I assumed the whole country looked like that. Guess I was wrong. Back to your calling my earlier post bullchit, are you making the same money you were 40 years ago?
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Joined: Mar 2008
Posts: 18,994
Campfire Ranger
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Campfire Ranger
Joined: Mar 2008
Posts: 18,994 |
Every 1 % GDP nets the gov 2.2 trillion in new revenue.
3 % GDP 6.6 trillion in one year.
Do that for 4 years and you have 26 trillion +.
A rising tide lifts all boats.
dave
Trump has said that cutting regulations has already boasted GDP to 3.3% for 2017. It would have been 4% if not for all the hurricanes. The Kennedy tax cuts touched 6% GDP several times. "After the tax cuts, real GDP grew at 5.8% in 1964, 6.5% in 1965, and 6.6% in 1966. The unemployment rate declined from 5.2% in 1964 to 3.8% in 1966, falling all the way to 3.5% in 1969. Although Kennedy did not live to see it, the rest of us did."
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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