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Guess what else they buy - all of the stuff that goes in the home - roof, wall material, paint, plumbing, electrical, paintings, stereos, computers, yard furniture, pools... people have to manufacture that stuff as well - and construct it, and maintain it also. It all helps the economy. It all adds to tax revenue, assuming everything is above board.
The lower and middle class do most of the spending in this country so policies should be targeted to help them. We have a demand issue not a supply issue. As it's been mentioned a border tax will hit those demographics who do the most spending which would lower demand and consumption
Lowering taxes may produce some economic growth, but it completely kills revenue when the economy inevitable corrects or tanks. Too much of that Obama stimulus went to plugging state budget holes, Texas would have had lay off a lot of teachers if weren't for that stimulus money.
Oh lookee here crooked mitch wants to continue the theft of earnings from working folks at all costs.
Where was his fiscal concern while obama piled up the debt?
Preventing an actual bank run wasn't cheap and stabilizing the economy wasn't cheap. People truly seem to forget the magnitude of the event that occurred 10 years ago.
They took their tax break money and trickled it down in Asia.
This is a very good point. With the US and it's ~315 million folks verses 7 billion of the rest of the world, it's pretty logical that a lot of growth and investment will be occurring overseas. Here's what the S&P500 looks like:
Preventing an actual bank run wasn't cheap and stabilizing the economy wasn't cheap. People truly seem to forget the magnitude of the event that occurred 10 years ago.
Can you tell me how making people poorer stabilizes an economy?
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by Frank DeForrest
Enriching the states coffers should never be a goal. Since taxes are theft, the goal should be their elimination across all income levels.
Right, and watch police be replaced by Blackwater, every single road or highway converted to a toll road, and mandatory tuition for K-12 schooling. Sounds like paradise if you're wealthy, hell if you aren't.
If you have an economic policy that stifles production and employment (like Obama did), and tax cuts are enacted - then yeah, that can be a problem.
With the estimated growth for the quarter to be around 4%, which it hasn't been that high for awhile, things are trending up for now.
Where did yoy get 4% from?
Also don't forget that a slow population growth is also a restriction on GDP. Look at Japan for the last 3 decades. Everything I have read suggests that with our present population growth rate--even a 3 % GPD can be a daunting number to hit.
Last edited by JIMANDTHOM; 05-17-2017 at 09:20 PM..
Reason: to add last.
Senate Majority Leader Mitch McConnell said that any tax overhaul can’t add to the growing U.S. budget deficit, a position that places him at odds with President Donald Trump, who has called for a significant tax cut.
McConnell said in an interview Tuesday with Bloomberg News that the nation’s “alarming” debt requires an approach that would balance tax cuts with new sources of revenue to avoid changing overall government receipts.
“It will have to be revenue-neutral,” he said. “We have a $21 trillion debt.”
...
In an interview with The Economist that was published last week, Trump said “it is OK” if tax legislation increases the deficit in the short term in order to “prime the pump” for economic growth.
One of the tax changes being discussed is a border levy tax that would tax imports 20%. I assume this to counter the corporate tax being lowered from 35% to 15%. Companies say that it would cause them to raise their prices. The companies would have to choose to pay the extra tax, or make more of their goods here. I'm OK what that.
Anyway - there is going to be a big tax battle on this.
Preventing an actual bank run wasn't cheap and stabilizing the economy wasn't cheap. People truly seem to forget the magnitude of the event that occurred 10 years ago.
The economy isn't stabilized unless you mean stagnant is stabilized.
Why would you think there would have been a bank run?
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