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Old 10-02-2017, 08:57 AM
 
Location: Charleston, SC
1,369 posts, read 770,802 times
Reputation: 2428

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[mod cut]

I'm not interested in picking up a few crumbs from the Big Boys Table, while they get massive Tax Breaks.

The absolute gall of this Administration, to stand there and Trumpet this as a big win for the Middle Class. This ranks right up there with Mexico will pay for the Wall.

Last edited by volosong; 10-03-2017 at 03:00 AM.. Reason: off topic

 
Old 10-02-2017, 09:05 AM
 
Location: Living rent free in your head
31,125 posts, read 13,643,867 times
Reputation: 22168
Quote:
Originally Posted by FiveLoaves View Post
[mod cut]

I'm not interested in picking up a few crumbs from the Big Boys Table, while they get massive Tax Breaks.

The absolute gall of this Administration, to stand there and Trumpet this as a big win for the Middle Class. This ranks right up there with Mexico will pay for the Wall.
Exactly! and in addition to the loss of the personal exemption is the end of the $2500 exemption for a married couple over 65.

Last edited by volosong; 10-03-2017 at 03:01 AM..
 
Old 10-02-2017, 09:10 AM
 
Location: Living rent free in your head
31,125 posts, read 13,643,867 times
Reputation: 22168
Quote:
Originally Posted by TuborgP View Post
Remember part of the original reason for repealing the ACA was to help pay for tax cuts.
I remember and from their desperation to achieve that I figured it had something to do with their 'tax plan'. But now without an offset to the loss of revenue they ask us to suspend belief and think that putting billions of dollars in the hands of the 'job creators' will grow the economy even though this only worked twice in the history of the US, when JFK reduced the top rate from 91% to 70% and in 1981 when Reagan lowered the top rate from 70% to 50%.
Economist's View: "Do Tax Cuts Ever Raise Revenues?"
 
Old 10-02-2017, 09:15 AM
 
29,812 posts, read 34,900,894 times
Reputation: 11730
Quote:
Originally Posted by 2sleepy View Post
I remember and from their desperation to achieve that I figured it had something to do with their 'tax plan'. But now without an offset to the loss of revenue they ask us to suspend belief and think that putting billions of dollars in the hands of the 'job creators' will grow the economy even though this only worked twice in the history of the US, when JFK reduced the top rate from 91% to 70% and in 1981 when Reagan lowered the top rate from 70% to 50%.
Economist's View: "Do Tax Cuts Ever Raise Revenues?"
Between shareholders like me and activist investors representing us along with management responsibility to us I fully expect:

Increases in shareholder value and higher dividends. That is there legal responsibility.

Isn't that why seniors invest in equities?

Wow that is a plus of the proposal. Higher investment returns to give us more money.
 
Old 10-02-2017, 09:51 AM
 
Location: Baltimore, MD
3,745 posts, read 4,223,779 times
Reputation: 6866
Quote:
Originally Posted by 2sleepy View Post
I remember and from their desperation to achieve that I figured it had something to do with their 'tax plan'. But now without an offset to the loss of revenue they ask us to suspend belief and think that putting billions of dollars in the hands of the 'job creators' will grow the economy even though this only worked twice in the history of the US, when JFK reduced the top rate from 91% to 70% and in 1981 when Reagan lowered the top rate from 70% to 50%.
Economist's View: "Do Tax Cuts Ever Raise Revenues?"
Actually, Bruce Bartlett, one of Reagan's policy advisors admits he helped create the "Republican tax myth" and explains what happened in this article: https://www.washingtonpost.com/news/...=.b7b1279a43b0

I wasn't old enough to remember the JFK economic policy...just his death. Reagan? I remember. LOL
 
Old 10-02-2017, 10:49 AM
 
12,748 posts, read 14,106,494 times
Reputation: 34928
Quote:
Originally Posted by 2sleepy View Post
I remember and from their desperation to achieve that I figured it had something to do with their 'tax plan'. But now without an offset to the loss of revenue they ask us to suspend belief and think that putting billions of dollars in the hands of the 'job creators' will grow the economy even though this only worked twice in the history of the US, when JFK reduced the top rate from 91% to 70% and in 1981 when Reagan lowered the top rate from 70% to 50%.
Economist's View: "Do Tax Cuts Ever Raise Revenues?"
A re-run of Reaganomics. Don't worry it will trickle down, folks.
 
Old 10-02-2017, 10:50 AM
 
Location: Living rent free in your head
31,125 posts, read 13,643,867 times
Reputation: 22168
Quote:
Originally Posted by lenora View Post
Actually, Bruce Bartlett, one of Reagan's policy advisors admits he helped create the "Republican tax myth" and explains what happened in this article: https://www.washingtonpost.com/news/...=.b7b1279a43b0

I wasn't old enough to remember the JFK economic policy...just his death. Reagan? I remember. LOL
Interesting article, thanks for sharing!
 
Old 10-02-2017, 11:18 AM
 
13,975 posts, read 7,446,942 times
Reputation: 25522
It doesn't matter. This can't possibly get through the Senate. The Republicans aren't going to kill the filibusterer when they only have 52 seats and the Senate could swing in 13 months. Like every other election cycle, all of the House is up for election in 13 months. Nobody is going to risk their cushy Congressional seat by voting for this.
 
Old 10-02-2017, 12:38 PM
 
Location: Wisconsin
21,543 posts, read 44,077,984 times
Reputation: 15160
Quote:
Originally Posted by KYBob View Post
Without knowing the cutoff points for the various tax brackets how can anyone predict what effect the proposed tax plan will have? How did they come up with 2.6 trillion? What assumptions did they make?

Until everything is put on paper it is just a guess. Democrats are guessing it's terrible, Republicans are guessing it's great.
Indeed. Assumptions on brackets are given, here:

https://www.cnbc.com/2016/12/08/char...ffect-you.html

Trump tax reform plan: Corporate rate, individual rate, deductions - Business Insider
 
Old 10-02-2017, 01:08 PM
 
Location: VT; previously MD & NJ
2,214 posts, read 1,356,544 times
Reputation: 6392
Quote:
Originally Posted by TuborgP View Post
Between shareholders like me and activist investors representing us along with management responsibility to us I fully expect:

Increases in shareholder value and higher dividends. That is there legal responsibility.

Isn't that why seniors invest in equities?

Wow that is a plus of the proposal. Higher investment returns to give us more money.
Nope. I invest in equities because CDs and other "safe" savings rates are so low as to be a joke.

Now if the big companies would take that money and pay their workers more with it, I might think it could help the economy overall. It is current workers who need (and will spend) the extra money a corp might get. The dividends you and I and other investors get will most likely get rolled over into buying more shares. Doesn't help the economy much.

Not to mention that an awful lot of people/retirees do not have investments. So how are they helped by reducing the corp tax rate? Are the corps going to lower prices on the items they sell? Don't think so.
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