Suddenly these mega rich that funded the DNC and Hillary's sure thing are America's enemies now? Well, ok.... But I'd love to hear some alternative suggestions. What? Give the poor an even bigger tax break? How would we even do that, and what would they accomplish with the extra money?
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fishingcomicSenior MemberPosts: 23,412Senior Member
I think the question is: Is a tax cut really stimulative if people just assume they're going to have to pay it back? The answer is yes, if there are unused resources that can be put to work to add to aggregate demand.
Trickle down is a fantasy.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
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fishingcomicSenior MemberPosts: 23,412Senior Member
They ain't poor, either, no matter where they live. Also I think Feinstein is probably confusing "median" with "Average."
Maybe not poor, but they will be hurt. Some of those people are spending a big percentage of their incomes on housing.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
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fishingcomicSenior MemberPosts: 23,412Senior Member
I read today that the rich aren't actually getting a tax cut that's proportional to the amount they pay. It stands to reason that they will always get the lion's share of the cut since they pay the most, but according to Brookings 84% of all taxpayers will get a cut. That's not bad.
If some guy like me get's a $100.00 back, that will be nice. But at that price we are adding $1.5 trillion to the deficit, and giving someone like Trump millions in breaks. Then they are going to go after medicare and Medicaid. Some of us have parents that depend on those programs, guess where that short fall is going to come from? It is going to come from their kids and will probably completely offset the any tax break they receive. The upper 1% has not suffered under the current tax plan. But you can bet there are going to be plenty in the bottom 40% that are going to suffer under this new plan.
Jobs are not created by a wealthier 1%. They are created by a healthy consumer base which this plan is going to hurt. Trickle down is a fantasy. It only serves to increase the deficit and increase the wealth gap.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
Their wealth has trickled down to me and paid for my cars, my mortgage payment, my groceries, my fishing trips out west, my mountain bikes, my doctor bills, my free health insurance, my profit sharing, my 401k contributions, my 50" TVs etc.
Uhmmm....that's Keynesian economics, not "trickle down" or supply side.
The hint was "unused resources" and "aggregate demand."
Aggregate demand is affected by monetary policy and fiscal policy. If net spending increases, then fiscal policy is expansionary. Net spending is spending minus taxes. Net spending increases if A) spending goes up; or taxes go down, all else equal.
Between January 1, 1982 (when the first Reagan tax cut took effect) to January 1, 1989, unemployment fell from 8.4% to 4.9%.
If you want to argue that tax cuts don't pay for themselves, that's fine, but to argue that tax cuts are never expansionary is just insane.
It is no contradiction – the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by major reduction of individual income tax rates.”
– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”
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fishingcomicSenior MemberPosts: 23,412Senior Member
Reagan also changed the way unemployment was calculated and the deficit soared. It is a myth.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
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fishingcomicSenior MemberPosts: 23,412Senior Member
Funny how Michael Bloomberg took the same course and disagrees with you. I don't care what you think you were taught, it is a myth. Maybe you should have taken more than one course.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
Their wealth has trickled down to me and paid for my cars, my mortgage payment, my groceries, my fishing trips out west, my mountain bikes, my doctor bills, my free health insurance, my profit sharing, my 401k contributions, my 50" TVs etc.
Sorry you haven't experienced the same.
Sent from my SM-G900V using Tapatalk
And they did all that while paying taxes.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
Economy, unemployment, minority unemployment, stock market, home ownership etc, all predicted to implode with a Trump prez, are all breaking records to the good. Still it's gloom and doom from the left. THANK FREAKING GAWD that we have at least a few more years of positive thinking and forward momentum to look forward to.
0
fishingcomicSenior MemberPosts: 23,412Senior Member
Uhmmm....that's Keynesian economics, not "trickle down" or supply side.
The hint was "unused resources" and "aggregate demand."
Aggregate demand is affected by monetary policy and fiscal policy. If net spending increases, then fiscal policy is expansionary. Net spending is spending minus taxes. Net spending increases if A) spending goes up; or taxes go down, all else equal.
Sorry but you are giving the most to the people who will spend the least. So you are not actually putting capital into the economy, you are putting it in rich people's savings accounts and taking money from those that would spend it and actually stimulate growth. Employers use cheap foreign labor because they can pay $2 a day. Not because they pay too much in taxes. Corporate profits have soared over the past 8 years they have billions to spend and they do not do it. A tax cut is not going to change that.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
0
fishingcomicSenior MemberPosts: 23,412Senior Member
Economy, unemployment, minority unemployment, stock market, home ownership etc, all predicted to implode with a Trump prez, are all breaking records to the good. Still it's gloom and doom from the left. THANK FREAKING GAWD that we have at least a few more years of positive thinking and forward momentum to look forward to.
He hasn't enacted a single piece of legislation up to this point. None of his policies are currently in place.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
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fishingcomicSenior MemberPosts: 23,412Senior Member
Nobody trickles down on comedians? I have an opening on my spring crew if you are fit and have a good work ethic. I pay well!
I have a good job thank you. And comedians do better when the economy is down. We are cheap entertainment and most people need a laugh when times are hard.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
Suddenly these mega rich that funded the DNC and Hillary's sure thing are America's enemies now? Well, ok.... But I'd love to hear some alternative suggestions. What? Give the poor an even bigger tax break? How would we even do that, and what would they accomplish with the extra money?
Enemies? Most of those that support the DNC think they already get plenty of tax breaks.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
Economy, unemployment, minority unemployment, stock market, home ownership etc, all predicted to implode with a Trump prez, are all breaking records to the good. Still it's gloom and doom from the left. THANK FREAKING GAWD that we have at least a few more years of positive thinking and forward momentum to look forward to.
Those that ignore the mistakes of history are bound to repeat them---your looking at this as a couple bucks saved in your wallet ---but what are you willing to do without cuz the $$$ are not there from the gov't to supply services
Unless of course your a fan of deficit spending----then it's your kids problems ---correct
0
fishingcomicSenior MemberPosts: 23,412Senior Member
The inclusion of the military as employed probably subtracted less than 0.2% to the unemployment rate.
He also changed the definition to not include those that were not looking for a job.
Using a more consistent measure Obama took it from 10% to 4%.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
I read today that the rich aren't actually getting a tax cut that's proportional to the amount they pay. It stands to reason that they will always get the lion's share of the cut since they pay the most, but according to Brookings 84% of all taxpayers will get a cut. That's not bad.
Now if they pay less taxes that = more money for my profit sharing plan!!!
But not more for those that do not participate. Communist.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
0
fishingcomicSenior MemberPosts: 23,412Senior Member
I know! It's crazy how the power of positive thinking can manifest positive change, isn't it?
Gone are the days of "those jobs are never coming back"
Those jobs have not come back. Coal country is just as poor as ever.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
0
NZ IndicatorSenior MemberPosts: 9,959Senior Member
Deficits only matter when the Republicans are not in charge.
'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
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Replies
If you stuff enough oats into a horse some of them eventually will reach the road, and lo, the sparrows are fed!
Trickle down is a fantasy.
Maybe not poor, but they will be hurt. Some of those people are spending a big percentage of their incomes on housing.
If some guy like me get's a $100.00 back, that will be nice. But at that price we are adding $1.5 trillion to the deficit, and giving someone like Trump millions in breaks. Then they are going to go after medicare and Medicaid. Some of us have parents that depend on those programs, guess where that short fall is going to come from? It is going to come from their kids and will probably completely offset the any tax break they receive. The upper 1% has not suffered under the current tax plan. But you can bet there are going to be plenty in the bottom 40% that are going to suffer under this new plan.
Jobs are not created by a wealthier 1%. They are created by a healthy consumer base which this plan is going to hurt. Trickle down is a fantasy. It only serves to increase the deficit and increase the wealth gap.
Their wealth has trickled down to me and paid for my cars, my mortgage payment, my groceries, my fishing trips out west, my mountain bikes, my doctor bills, my free health insurance, my profit sharing, my 401k contributions, my 50" TVs etc.
Sorry you haven't experienced the same.
Sent from my SM-G900V using Tapatalk
Uhmmm....that's Keynesian economics, not "trickle down" or supply side.
The hint was "unused resources" and "aggregate demand."
Aggregate demand is affected by monetary policy and fiscal policy. If net spending increases, then fiscal policy is expansionary. Net spending is spending minus taxes. Net spending increases if A) spending goes up; or
Econ 1 wasn't really that hard.
Someone help me out here....what was that definition of insanity again?
Gotta go---Bernie wants to play with the goose again......oh and like every other fairy tale---they all lived happily ever after
If you want to argue that tax cuts don't pay for themselves, that's fine, but to argue that tax cuts are never expansionary is just insane.
It is no contradiction – the most important single thing we can do to stimulate investment in today’s economy is to raise consumption by major reduction of individual income tax rates.”
– John F. Kennedy, Jan. 21, 1963, annual message to the Congress: “The Economic Report Of The President”
Funny how Michael Bloomberg took the same course and disagrees with you. I don't care what you think you were taught, it is a myth. Maybe you should have taken more than one course.
And they did all that while paying taxes.
Sorry but you are giving the most to the people who will spend the least. So you are not actually putting capital into the economy, you are putting it in rich people's savings accounts and taking money from those that would spend it and actually stimulate growth. Employers use cheap foreign labor because they can pay $2 a day. Not because they pay too much in taxes. Corporate profits have soared over the past 8 years they have billions to spend and they do not do it. A tax cut is not going to change that.
He hasn't enacted a single piece of legislation up to this point. None of his policies are currently in place.
I have a good job thank you. And comedians do better when the economy is down. We are cheap entertainment and most people need a laugh when times are hard.
The inclusion of the military as employed probably subtracted less than 0.2% to the unemployment rate.
Enemies? Most of those that support the DNC think they already get plenty of tax breaks.
Those that ignore the mistakes of history are bound to repeat them---your looking at this as a couple bucks saved in your wallet ---but what are you willing to do without cuz the $$$ are not there from the gov't to supply services
Unless of course your a fan of deficit spending----then it's your kids problems ---correct
He also changed the definition to not include those that were not looking for a job.
Using a more consistent measure Obama took it from 10% to 4%.
I know! It's crazy how the power of positive thinking can manifest positive change, isn't it?
Gone are the days of "those jobs are never coming back"
See post 78 above, especially this link: https://www.npr.org/2017/12/19/571754894/charts-see-how-much-of-gop-tax-cuts-will-go-to-the-middle-class
Now if they pay less taxes that = more money for my profit sharing plan!!!
But not more for those that do not participate. Communist.
Those jobs have not come back. Coal country is just as poor as ever.
Sure. Why not. Who is actually opposed to a few more dollars in their wallet?