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Old 11-27-2017, 12:32 PM
 
Location: Crooklyn, New York
28,284 posts, read 26,292,241 times
Reputation: 11744

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Quote:
Originally Posted by evilcart View Post
1 yep they are. reducing tax rates on income increases my profit retention.

2 I suggest you read it, it is all there, but the short answer is spending in not being addressed in a meaningful way, other than setting up to attack spending a year or two down the road when tax revenues fall.

3 wrong. it is simple math to target any one section while mitigating it's impact elsewhere, simple example decreases taxes on income under 100k while increasing it the same amount on income over 200k or 300k . so you are plainly wrong

4 easy reform does not equal reduction, you made a logic error. and you can reform taxes in many ways that are revenue neutral or not. your point makes zero sense.

CBO is non partisan and has always been considered non partisan even by the Rs until jan 20th 2017. when it was clear they needed to attack it in order to dispute it's scores for ACA and later taxes..
That's not accurate. The GOP bill will have to slash into Medicare. This isn't the normal legislation process like there was for the ACA or the Bush tax cuts, so anything Congress passes needs to be deficit neutral.

https://www.bloomberg.com/news/artic...-spending-cuts

This is as "Globalist" a bill as you can imagine. The Globalists have apparently screwed America, but the only way to save America is by giving the Globalists everything they want.
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Old 11-27-2017, 12:34 PM
 
9,893 posts, read 3,286,981 times
Reputation: 7254
Quote:
Originally Posted by ColoradoOnMyMind View Post
I can't believe some of the pollls I'm seeing showing a majority disapproval of the plan. These people are against keeping more money in their pocket, essentially open to giving the government more money to waste with a smile on their face. Republicans are doing a terrible job with messaging but overall it's shaping up to be a great bill.

I've always predicted Flake, Corker and McCain to team up to derail the trump agenda, it doesn't have to be those exact 3 but my money is on Republicans obstructing it to spite Trump. We'll know by weeks end.
easy, because most people can see that THEY are getting scraps while corps and the rich are getting the main course.

the vast majority of americans get little , nothing or lose under this this tax plan. The top few percent get trillions. YES TRillions over the next 10 years. while the rest of us will make up the short falls.


NOTICE how Rs posting here avoid the data because it crushes their fake news that this tax plan helps anyone but the wealthy.

don't get sick don't retire under this new tax plan because if you do you it will cost you dearly.
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Old 11-27-2017, 12:35 PM
 
38,321 posts, read 14,990,940 times
Reputation: 24731
Quote:
Originally Posted by BajanYankee View Post
Why take it from the CBO when you can take it from Steve Bannon and Breitbart? Or the 60 economist on the Chicago Booth School of Business panel who agree that the bill will generate virtually zero economic growth but increase the budget deficit.
Everything I've read say there will be little if any economic growth from this tax plan.
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Old 11-27-2017, 12:36 PM
 
9,893 posts, read 3,286,981 times
Reputation: 7254
Quote:
Originally Posted by BajanYankee View Post
That's not accurate. The GOP bill will have to slash into Medicare. This isn't the normal legislation process like there was for the ACA or the Bush tax cuts, so anything Congress passes needs to be deficit neutral.

https://www.bloomberg.com/news/artic...-spending-cuts

This is as "Globalist" a bill as you can imagine. The Globalists have apparently screwed America, but the only way to save America is by giving the Globalists everything they want.
I agree. but i understate how bad it is because the truth is so insane people won't believe it.
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Old 11-27-2017, 12:36 PM
 
Location: Crooklyn, New York
28,284 posts, read 26,292,241 times
Reputation: 11744
Quote:
Originally Posted by ColoradoOnMyMind View Post
I can't believe some of the pollls I'm seeing showing a majority disapproval of the plan. These people are against keeping more money in their pocket, essentially open to giving the government more money to waste with a smile on their face. Republicans are doing a terrible job with messaging but overall it's shaping up to be a great bill.
Why would you not believe it when Steve Bannon and Breitbart have been rather vocal critics of the bill? How can you be a "populist" while at the same time defending gigantic tax cuts for the Globalist elites who own private jets and vacation in the South of France?

Quote:
Originally Posted by ColoradoOnMyMind View Post
I've always predicted Flake, Corker and McCain to team up to derail the trump agenda, it doesn't have to be those exact 3 but my money is on Republicans obstructing it to spite Trump. We'll know by weeks end.
Or they could vote against it because they are more aligned with Bannon's America First vision rather than Globalists.
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Old 11-27-2017, 12:39 PM
 
Location: Crooklyn, New York
28,284 posts, read 26,292,241 times
Reputation: 11744
You know a GOP bill is terrible when even the National Review opposes it.

Quote:
The WSJ (my emphasis added): As a result, in the Senate bill, there would be tax increases for all income groups below $75,000 in 2027, though Republicans say future Congresses would prevent that from happening. The way the GOP’s tax reform is likely to be received, it will be up to the Democrats to decide on that and, for that matter, on those ‘permanent’ cuts in the corporate tax rate. What could go wrong? This will not end well.
The GOP
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Old 11-27-2017, 12:42 PM
 
Location: Crooklyn, New York
28,284 posts, read 26,292,241 times
Reputation: 11744
Quote:
Originally Posted by GotHereQuickAsICould View Post
Everything I've read say there will be little if any economic growth from this tax plan.
Quote:
The second economist on the panel, Mark Zandi, the chief economist of Moody’s Analytics, was even more scathing about the Republican plan. According to his economic model, he said, the tax cuts that the G.O.P is proposing would have virtually no impact on G.D.P. growth over the next ten years, but would widen the budget deficit substantially and increase the debt-to-G.D.P. ratio by about six percentage points. Raising the question of why anybody would want to adopt such a plan, he said, “I don’t get it.”

The third economist, Dambisa Moyo, is an author and a public speaker who sits on the boards of three big companies—Chevron, Barclays, and Barrick Gold—all of which stand to benefit from the Republican proposal to cut the corporate tax rate from thirty-five per cent to twenty per cent. But, far from praising the G.O.P. plan, Moyo pointed out that the last time the corporate rate was reduced, in the nineteen-eighties, corporations used their tax savings to increase dividend payouts to shareholders rather than to invest in plant and capital equipment, or to raise wages.
https://www.newyorker.com/news/our-c...e-gop-tax-plan

But Trump and McConnell say so, so it must be right and especially so if the Libs are against it, even if Bannon and the America Firsters are against it.

I know it's enough to make heads explode: Bannon and the Liberals both favor raising taxes on the rich.
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Old 11-27-2017, 12:46 PM
 
1,721 posts, read 814,565 times
Reputation: 1034
Im really trying to understand what is so bad about the tax plan we have currently that is needs a COMPLETE overhaul. Tweek certain aspects, that is okay but an overhaul that would send us more into debt and not guarantee an increase in jobs and higher wages for Americans. Sounds like a big gamble with a whole lot of uncertainty except the debt increase
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Old 11-27-2017, 12:46 PM
 
7,744 posts, read 4,592,970 times
Reputation: 8460
Quote:
Originally Posted by Loveshiscountry View Post
110k is no where near middle class. The medican family income is just over half that.
LOL at th notion that a teacher married to a cop is somehow not middle-class.
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Old 11-27-2017, 12:51 PM
 
Location: Denver
1,303 posts, read 437,068 times
Reputation: 1239
Quote:
Originally Posted by Loveshiscountry View Post
110k is no where near middle class. The medican family income is just over half that.
Of course, location dependent. $110k would be middle class in most major (desirable) cities. It's two relatively average white-collared jobs. Even two first-year teachers would make almost $80-85k in major metros.
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