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lol He isn't holding the stock market back, he's artificially boosting it with QE XXX. Your posts are so far from the truth they are funny.
Well, both are true in a sense. Business was really coming along well when he took office. But most all of his policies have created doubt and chaos...
A tax cut and/or instructions to the fed to give away more free money...BOTH of those signal to those looking for "real" value and growth that things are not good.
The reasonable thing to do in 2017 would have been to bring the budget deficit down and worry about China and things like that later....or deal with them slowly and cautiously. THIS would have signaled fiscal responsibility which then had many positive repercussions.
As to where the stock market should be - that's partially based on results and partially based on sentiment.
In any case, the point remains that people with investments (IRA, etc.) often have much more to gain or lose by a good stock market than with some small tax adjustment.
If Joe and Jane have 300K in equities between their IRA's and regular accts...and the market does a "average" 9% return, that's 27K they would make in a year. The $400 or 2K they "make" in their adjusted tax return pales in comparison.
The same goes, to a lesser extent, with housing prices (which have been going nowhere). That's one of the largest sources of equity for most Americans...and it's not going anywhere.
Thank goodness for those low priced Mexican and Chinese goods!
I honesty don't understand if taxes are supposed to have gone down, then if I paid more taxes in 2018 than 2017 then I SHOULD be getting more back. So this means if I DIDN'T make more in 2018 under the new taxes I would be owing money?
I honesty don't understand if taxes are supposed to have gone down, then if I paid more taxes in 2018 than 2017 then I SHOULD be getting more back. So this means if I DIDN'T make more in 2018 under the new taxes I would be owing money?
What you're "getting back" isn't a valid comparison for whether or not you did better under the new laws. Unless you itemized before and lost major deductions under the new law, you almost certainly came out better this year.
I honesty don't understand if taxes are supposed to have gone down, then if I paid more taxes in 2018 than 2017 then I SHOULD be getting more back. So this means if I DIDN'T make more in 2018 under the new taxes I would be owing money?
No, you "shouldn't". I didn't think you could really be that ignorant. I'm starting to now think you are. What you "get back" does not determine total tax paid. Sounds like you didn't have enough withheld or you are one of the SALTers who lost big deductions.
Interesting how the "rich that hold up us all on their shoulders" have been instantly transformed to "SALTers" - it's as if Trump and his 4th grade speech patterns have taken hold everywhere. Make American Ignorant Again!
I think what some are meaning to say is that if one played by the rules and also helped keep the economy going by living the American Dream and having a nice house and stuff like that.....that NOW, they are bad bad bad people.
One day these dudes praise the wealthy the next they shun them. My head is spinning here. I think maybe it's just that only ONE Wealthy Guys is Allowed - the King, one Donald Trump. No others should apply.
There sure isn't 1.5 Trillion that could be cut from the Fed. Budget. That would be the case if we elected Nader, Stein, Perot or anyone else.
An opinion like yours is similar to saying if we flap out arms fast enough we would fly. We would. But it's not going to happen. Therefore, we live within the bounds and society that we created.
Wishing does not make it so. If I say "this jet should get better fuel mileage" and then I put only 60% of the fuel in it to reach the destination, my opinion won't mean much...in fact it will mean exactly as much as yours in this matter.
The only open question with our country and the jet is "given the actual situation - reality - do we want to get there or not?".
Obviously a lot of Americans don't...
We can't cut 1.5 trillion in spending? Yes we can. The problem is that the government won't cut spending. We could probably start by no longer giving lifetime pensions to retired Senators and Representatives. Estimates are that federal pensions are somewhere around $3.5 trillion. While not all of those pensions are for Congress critters, it is a good chunk of change that we are spending on people who get to vote for their own pay.
Saying "it's not going to happen" is a ridiculous argument. No, it won't happen as long as Americans like you believe that the government is the boss of the people rather than the people being the boss of the government.
Interesting how the "rich that hold up us all on their shoulders" have been instantly transformed to "SALTers" - it's as if Trump and his 4th grade speech patterns have taken hold everywhere. Make American Ignorant Again!
I think what some are meaning to say is that if one played by the rules and also helped keep the economy going by living the American Dream and having a nice house and stuff like that.....that NOW, they are bad bad bad people.
One day these dudes praise the wealthy the next they shun them. My head is spinning here. I think maybe it's just that only ONE Wealthy Guys is Allowed - the King, one Donald Trump. No others should apply.
Democrats have been pushing to tax the rich for years. Why is it now a problem for you that people with a higher than average net worth are having to pay more in federal taxes?
Personally, I think our tax system is ridiculously complicated and that we should convert to a flat tax with a consumer tax on anything that is not a necessity.
So funny how many of these trolls are saying the exact same thing, using the same exact figures and arguing the exact same thing.
It's almost like it's only one troll who's trolling many different forums..... hmmm...
They're not trolls. The money going to the 1% had to come from somewhere, so Trump used a broad brush that took away most itemized deductions. The tax bill hit rich republicans as well as rich democrats.
Democrats have been pushing to tax the rich for years. Why is it now a problem for you that people with a higher than average net worth are having to pay more in federal taxes?
Personally, I think our tax system is ridiculously complicated and that we should convert to a flat tax with a consumer tax on anything that is not a necessity.
Of course we don't mind paying more...what we mind is paying more AND then a doubling of the deficit...meaning that our "more" that we paid not only didn't help, but that vastly more than we paid ended up going for corporate tax cuts.....and for the very very rich.
If tax increases go toward balancing the budget, we're all good.
That should be pretty simple to understand. Indebting our grandchildren in order to give 100's of millions to Warren Buffet is not a good value.
If I am going to pay more, then we the people should get more..including a lowered deficit.
No, you "shouldn't". I didn't think you could really be that ignorant. I'm starting to now think you are. What you "get back" does not determine total tax paid. Sounds like you didn't have enough withheld or you are one of the SALTers who lost big deductions.
No I didn't have any SALT deductions. I got some deductions because they were able to deduct all of my moving expenses since I moved back to Louisiana after finishing professional school. I probably would have moved back here anyway but my accountant told me because I did indeed take a job back here it technically could count as moving for work reasons. I was able to write off all the gas, truck rental, etc and me paying friends to help me move even though I paid them in cash and didn't officially hire them. (these are my friends and they are American so no I don't feel guilty about going "under the table".)
Besides this I didn't have any other deductions. I provided a printout from both my former church and my current church and all the money I've donated and I also donated much more to church this year since I follow at least the 10% the Bible commands so I donated more this year. Yet they said it wasn't enough donations to really make an impact. So yes I'm in a much higher tax bracket now but didn't know it was that much of a difference.
Many people really don't pay any income tax at all. And its interesting how I did get more back in state taxes this year than last year.
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