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I'm curious to see if the theories behind this tax bill turn out to be true or not. I'm glad to see this tax bill pass so we can see it tested in a real world environment, if nothing else. I am skeptical that I will see much in the way of personal tax savings however.
Not necessarily, most of those 20% live in coastal states that will now lose the deduction for state and local taxes paid. That will make their tax bills significantly worse, regardless of the lower base rates.
^ Yup, although, an argument could be made that the impact to the market will be softened due to the rising multinational nature of many corporation's revenue streams. If anything, the market may take a hit, then recover quickly. Eventually, I can see a desire for a lot of corporations to move their headquarters out of the US for the sake of being closer to their larger customer base in Asia or Europe.
On another, more depressing note, China is making some smart long term plays to move the global reserve currency away from the Dollar. Once that happens, the cost to borrow will become really, really high. This, more than any war, could bring the collapse of our country.
Yep, which is partly why we invested in Euro denominated funds and purchased RE in the EU . We figured a hedge was in order.
since when are you guys worried about another trillion in debt? Last time I checked , it rose over 10 trillion with the Obozo administration. I did not see anyone complaining then.
Perhaps some of us were concerned with the deficit under the previous administration. And your point -- does that mean you are okay with increasing the deficit under Trump but didn't like the deficit under Obama. Or are you as concerned with the deficit now as you were under OBama?
Ask yourself what will be cut for average Americans to give the wealthy a HUGE tax break
I can’t believe some Americans are celebrating a $1500 increase on their tax refund. That’s nothing, the ride of healthcare cost will wipe that gain out
Some are satisfied with crumbs from the rich man's table. Temporary crumbs at that as the cuts for lower income Americans are all temporary while corporate cuts are not.
Every day trump is talking about how great the economy is. Why do corporations need more?
This monstrosity is going to pass. All I can say is oh well. I don't like it but my voice is so small and our government doesn't care about us, both sides of the aisle.
That is simply NOT TRUE.
Obama increased my taxes to help those who were struggling. I am fine with that.
OBAMA created ACA to help those who are struggling.
Trump is dismantling those gains and going even further.
I now will have to rethink my personal strategy and shift to a get filthy rich mode, will be in need of several boot-lickers in the upcoming months if you are willing to work for low wages.
since when are you guys worried about another trillion in debt? Last time I checked , it rose over 10 trillion with the Obozo administration. I did not see anyone complaining then.
Second, it is one thing to run a deficit when the economy is depressed. That's what economists say that you should do. It's another thing to borrow money just give it to rich people as cut taxes.
Third, what should Democrats have done in 2009, raise taxes to bridge the deficit or cut unemployment insurance, just when the unemployed needed it?
I'm curious to see if the theories behind this tax bill turn out to be true or not. I'm glad to see this tax bill pass so we can see it tested in a real world environment, if nothing else. I am skeptical that I will see much in the way of personal tax savings however.
well you must be mid 30s or less. Otherwise you would most likely remember this has been tried before and a growing wealth gap is what we got.
Have you not heard of Trickle down before or how it failed in the 80s, or how it has much more recently failed in Kansas.
look it up Uncle, you don't need to wait in order to find out.
Republicans only care about the deficit when it will positively affect truly needy people - be it the poor, sick, or hurricane ravaged. Deficit reduction talk is out the window when you can give big corporations and wealthy individuals tax cuts that don't really need to get by. The GOP knows where its campaign funds come from and it is not the poor, sick, or hurricane ravaged needy. It is only those that nave no real necessary need that the GOP cares about (big corporations and the wealthy).
Whenever Republican politicians tell you about the high tax rate in the USA, they are very careful not to tell you the average real rate which is substantially lower. The other thing the politicians are careful not to let you know -- while other countries pay lower corporate taxes, many of them pay other higher payroll tax. You never hear the Republican politicians compare what Ford Canada pays in tax compared to Ford USA - in all taxes. NEVER.....
You never hear the discussion on labor costs and compensation costs in the USA.
Even when asked about the real tax rate as opposed to the stated -- Republicans divert. They never answer or discuss that issue.
Corporations are enjoying record profits. CEO's are enjoying record salary/bonuses and we still think it is because of the tax rate they aren't paying people more.
Exactly!
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