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Old Today, 08:30 AM
 
Location: Gulf Coast Texas
28,655 posts, read 15,543,542 times
Reputation: 11499

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Good news. This is what we want, right?

Deregulation, tax reform works.

The 99% Get a Bigger Raise

The Bureau of Economic Analysis (BEA) on Tuesday published its annual revisions to personal income data, and the surprise was the huge jump in disposable income and employee compensation.

The revisions show that employee compensation rose 4.5% in 2017 and 5% in 2018—some $4.4 billion and $87.1 billion more than previously reported. The trend has continued into 2019, with compensation increasing $378 billion or 3.4% in the first six months alone. Wages and salaries were revised upward to 5.3% from 3.6% in May year over year. And in June wages and salaries grew at an annual rate of 5.5%, which is a rocking 4.1% after adjusting for inflation.


Personal savings also increased... revised upward to 8.1% from 6.1% in May, which is much higher than the roughly 5% before the last two recessions.

Why? PAY ATTENTION...

Compensation increased 42% more during the first two years of the Trump Presidency than in 2015 and 2016. This refutes the claim by liberals that the economy has merely continued on the same trajectory since 2017 as it was before.

The economy barely skirted recession in the final Obama years, and economic policy changed in 2017. Deregulation has unleashed repressed animal spirits, especially in energy. Tax reform has also spurred business investment in new facilities and equipment, which over time should translate into higher worker productivity and wages.
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Old Today, 02:57 PM
 
Location: Gulf Coast Texas
28,655 posts, read 15,543,542 times
Reputation: 11499
Deregulation...

Deregulation explodes under Trump, 13 regulations killed for every new one, $33B saved

It was an odd, geeky campaign promise for a populist presidential candidate to make. But when Donald Trump in 2016 pledged to kill two Obama-era regulations for every new one, crowds went wild.

...
“We’ve hit 13 to 1,” he told a Heritage Foundation conference on federalism. And cutting so many regulations, he added, has saved taxpayers $33 billion.

Departments and agencies including the departments of Labor, Education, Agriculture, and the Environmental Protection Agency have led the war on regulations, according to federal reports.

...
“The president has it because he had to go and pull a permit to build a building and deal with bureaucracy and doesn’t like that and knows why that impedes growth and impedes development, impedes creativity,” said Mulvaney.


Business owners need a stable environment of regulations so they know what to expect and understand how to invest their resources.

When there a ton of regulations and the foundation is constantly shifting - business owner are slow to spend and invest money.
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Old Today, 03:05 PM
 
Location: Gulf Coast Texas
28,655 posts, read 15,543,542 times
Reputation: 11499
Entire article here... The 99% Get a Bigger Raise
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Old Today, 03:08 PM
 
Location: San Diego
5,198 posts, read 1,426,951 times
Reputation: 3737
Quote:
Originally Posted by DRob4JC View Post
Deregulation...

Deregulation explodes under Trump, 13 regulations killed for every new one, $33B saved

It was an odd, geeky campaign promise for a populist presidential candidate to make. But when Donald Trump in 2016 pledged to kill two Obama-era regulations for every new one, crowds went wild.

...
“We’ve hit 13 to 1,” he told a Heritage Foundation conference on federalism. And cutting so many regulations, he added, has saved taxpayers $33 billion.

Departments and agencies including the departments of Labor, Education, Agriculture, and the Environmental Protection Agency have led the war on regulations, according to federal reports.

...
“The president has it because he had to go and pull a permit to build a building and deal with bureaucracy and doesn’t like that and knows why that impedes growth and impedes development, impedes creativity,” said Mulvaney.


Business owners need a stable environment of regulations so they know what to expect and understand how to invest their resources.

When there a ton of regulations and the foundation is constantly shifting - business owner are slow to spend and invest money.
Where can we find a list of regulations that have been changed or repealed?
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Old Today, 03:10 PM
 
Location: Little Rock, AR
3,068 posts, read 944,883 times
Reputation: 1924
Shhhhh, your not supposed to talk about this.

Don’t talk about companies not moving headquarters out of the US either because of the new tax plan that took away incentives to do so.

Don’t talk about the border wall that is being constructed with plans of 400 miles to be completed by year end 2020.

If the media doesn’t talk about it, it doesn’t exist right?
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Old Today, 03:13 PM
 
Location: Bellingham, WA
875 posts, read 1,120,499 times
Reputation: 1023
Good post!
Running a countries economy is a delicate task. Taxes must be enough for the government to cover it's responsibilities yet not too much where it becomes cheaper and more profitable to make goods else ware. Furthermore, when you have high costs of living compared to other countries, you must protect your domestic production with tariff's. England for example, has tariff's in excess of 40% on many commodities to protect theirs as they also have some of the highest cost of living in the world. I feel that over the years, things have shifted too much and we just kept taxing and taxing a shrinking tax base instead of fixing the problem of our un-balanced tariff and trade policies.
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Old Today, 03:21 PM
 
15,625 posts, read 4,139,015 times
Reputation: 11225
Ask a boat dealer. Or Car Dealer. They'll tell you the truth.
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Old Today, 03:25 PM
 
466 posts, read 84,419 times
Reputation: 508
Quote:
Originally Posted by craigiri View Post
Ask a boat dealer. Or Car Dealer. They'll tell you the truth.
Guess somebody’s wages didn’t increase lol.
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Old Today, 03:27 PM
 
15,625 posts, read 4,139,015 times
Reputation: 11225
Quote:
Originally Posted by rkcarguy View Post
Good post!
Running a countries economy is a delicate task. Taxes must be enough for the government to cover it's responsibilities yet not too much where it becomes cheaper and more profitable to make goods else ware. Furthermore, when you have high costs of living compared to other countries, you must protect your domestic production with tariff's. England for example, has tariff's in excess of 40% on many commodities to protect theirs as they also have some of the highest cost of living in the world. I feel that over the years, things have shifted too much and we just kept taxing and taxing a shrinking tax base instead of fixing the problem of our un-balanced tariff and trade policies.
And how will that solve the 1.5 Trillion we spend on the security state and the 3.5 Trillion we are spending on health care?

Those two items alone (just the Government share of health care plus Security) adds up to more than the total Federal Income Tax collected.


If we cared about solving problems..and we don't....a VAT to cover health care and infrastructure would be passed next month.

But USA politics are about one thing. More money for wealthy people shoveled off onto debt for future generations. That's what many are fighting for.

It's all about ME ME ME. Give the average American voter the choice between money NOW (out of debt and deficit) or actually planning for balance and they will take the former every time.

In fact, this was the very first thing the GOP Congress did in the Trump admin of any note...although a negative note.

Reality is a hard nosed teacher. But it's also quite evident. Appealing to peoples selfish notions, greed and fear is what US Politics are about right now. Within that framework problems cannot be tackled or solved.

Period.
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