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The new tax bill has an expiration date for us "regular" folks (expiration date: 2025). So, it will only "help" us for a limited time period.
When the tax cuts disappear for regular folks but the ones for corporations keep right on ticking (since they're permanent), sure, I think there might be at least some people who get upset.
That's one of my objections to the tax bill. If it's to make things better for the "middle class" then why do the benefits expire for us, while the ones for corporations don't?
Don't get me wrong. I'm as happy as the next person to line up for my tax "cut" but I'll be banking any extra I get out of it to tide me over when it expires and we move on to the next "great thing for the middle class."
Where in the law does it say the cuts can’t be extended?
Additionally, the “I don’t care if I get lower taxes for eight years starting now, because they might go up” attitude. Enjoy the next 8 years, and insist they get extended.
The new tax bill has an expiration date for us "regular" folks (expiration date: 2025). So, it will only "help" us for a limited time period.
When the tax cuts disappear for regular folks but the ones for corporations keep right on ticking (since they're permanent), sure, I think there might be at least some people who get upset.
Correct.
Trump's front-loaded tax cuts will produce a federal deficit of about $1.3 trillion in fiscal year 2019. In effect, fiscal stimulus is being cranked from 3 to 6 percent of GDP.
Gunning the economy with tax cuts will likely be a successful short-term strategy since it could help reduce Republican party losses in the 2018 midterm elections. But it’s very poor timing for the 2020 presidential election. By then, with rate hikes biting and stimulus easing, the economy will likely take a tumble at the worst possible time for re-electing the incumbent.
Trump's front-loaded tax cuts will produce a federal deficit of about $1.3 trillion in fiscal year 2019. In effect, fiscal stimulus is being cranked from 3 to 6 percent of GDP.
Gunning the economy with tax cuts will likely be a successful short-term strategy since it could help reduce Republican party losses in the 2018 midterm elections. But it’s very poor timing for the 2020 presidential election. By then, with rate hikes biting and stimulus easing, the economy will likely take a tumble at the worst possible time for re-electing the incumbent.
It's clear the failure in DC is our fault because we've become too complacent. So at what point are we going to do things ourselves? That will be the day the tide turns? Playing musical politicians while most of the public remains apathetic and more concerned about their iPhones and Facebook posts than the future of the country is our problem. And it's at the fault of We the People! We The People are the first three words of the US Constitution and We the People are most responsible for the mess we have now.
I think the Founders put "We the People" at the beginning FOR A REASON!
The middle class are going to see more 401K profits, lower taxes and jobs.
What jobs? And depending on how much you make, the wealthy make out so much than the middle class. But my real problem is who is going to pay for adding to the deficit....our kids and their kids. I don't want them paying for our mistakes and greed.
What jobs? And depending on how much you make, the wealthy make out so much than the middle class. But my real problem is who is going to pay for adding to the deficit....our kids and their kids. I don't want them paying for our mistakes and greed.
Do businesses provide jobs? That’s a yes.
Are you claiming that a rich person who goes from paying $1.4 million in Federal income taxes to $1.1 million in Federal income taxes is ripping off the person paying $8k in Federal income taxes? Please explain how someone paying over a hundred times more than another person while receives the same, or less, services is getting over on the person paying a tiny fraction of it?
Finally, spending causes debt. You need to understand that extremely basic economic principles. And if debt bothers you, call for reduced spending.
Are you claiming that a rich person who goes from paying $1.4 million in Federal income taxes to $1.1 million in Federal income taxes is ripping off the person paying $8k in Federal income taxes? Please explain how someone paying over a hundred times more than another person while receives the same, or less, services is getting over on the person paying a tiny fraction of it?
Finally, spending causes debt. You need to understand that extremely basic economic principles. And if debt bothers you, call for reduced spending.
There is no guarantee that businesses will hire more people when their taxes are reduced. Why would they when they can line their pockets with more money. It's a fantasy that republicans have been peddling.
There is no guarantee that businesses will hire more people when their taxes are reduced. Why would they when they can line their pockets with more money. It's a fantasy that republicans have been peddling.
Why do you believe O&G companies reduce their number of employees when prices and profits fall and hire more people when prices and profits rise?
Why do you believe O&G companies reduce their number of employees when prices and profits fall and hire more people when prices and profits rise?
And why do you believe Trump when he says companies will come back to the US because they will pay lower taxes because of his new tax plan. The fact is, they won't. Labor is much cheaper overseas....no healthcare, no retirement, no sick leave, no paid vacation, no 401. Why in the world would any company come back to the US when they can just pocket their profits and not give it to their employees. Good grief, even Ivanka has her products made overseas.
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