I don't know if we can pull up posts from that long ago (and I'm not wasting my time ding such) but I'd like to asks the Libs here who are so fired up about this if they were just as fired up when Obama extended the Bush cuts?
You seem awfully worried about spending today and I wonder if you cared this much back then?
I've been a deficit hawk right along. Unlike the Republicans.
I recall Obama convincing/cajoling Congress during a lame duck session to let a sunset on Bush tax cuts for the rich take effect. It helped, a little, on the deficit and was a small victory against the Rs' profligate fiscal policy.
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NZ IndicatorSenior MemberPosts: 9,953Senior Member
'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: 23,379Senior Member
'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 will say that the 20% deduction for income from a pass through business is going to help me. I am in a small partnership (7 partners and 20+/- employees). All the profit is taxed at individual rates in the hands of the partners. The new deduction is intended to give small non-corporate business entities tax treatment similiar to the now reduced tax rates for corporations. I can't say we're going to go out and hire new employees, but we will probably share the savings to some extent with our employees.
Okay so where were all these jobs when either Bush was President? Why has the gap between the rich and the poor increased steadily since we first fell in love with this fantasy?
You could argue that the tax rate was so low compared to when Reagan took office that it even benefited Clinton.
As for the gap between rich and poor, who said a tax cut was supposed to narrow it? The differential always goes up when the economy grows.
I also believe that one of government's core functions should be to serve as a medium to redistribute wealth.
Given that an income tax had to be specifically added to the Constitution and wasn't until 1913, I feel really confident that this wasn't a core function according to the Founding Fathers.
To be honest, I can't even come close to getting my head around this.
Given that an income tax had to be specifically added to the Constitution and wasn't until 1913, I feel really confident that this wasn't a core function according to the Founding Fathers.
To be honest, I can't even come close to getting my head around this.
'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
Why is the GOP Tax Bill So Unpopular? Maybe It’s All Relative.
The social science research that explains why Republicans are losing the battle of public opinion.
Why is the GOP Tax Bill So Unpopular? Maybe It’s All Relative.
The social science research that explains why Republicans are losing the battle of public opinion.
Perhaps these polls and surveys aren't as indicative of Americans opinion as they would have us believe. Surely the last election thought us that these polls can be waaay off. I’m done caring what they (polls and surveys) say anymore personally. This tax break is one of the big campaign promises that Trump ran on. Why would all of his supporters find it unpopular all of sudden? Fake news.
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NZ IndicatorSenior MemberPosts: 9,953Senior Member
Perhaps these polls and surveys aren't as indicative of Americans opinion as they would have us believe. Surely the last election thought us that these polls can be waaay off. I’m done caring what they (polls and surveys) say anymore personally. This tax break is one of the big campaign promises that Trump ran on. Why would all of his supporters find it unpopular all of sudden? Fake news.
Time has already told... you and Hillary didn't listen. The polls are a joke. If anything, they **** off and energize Trumpies even more.
I too will be voting with my wallet as most Americans do. Where have I heard this before.... "It's the economy, stupid".
All of your Trout are belong to me.
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NZ IndicatorSenior MemberPosts: 9,953Senior Member
Is that fact that he's worth $37 billion enough for you to agree with Sheldon Adelson?
Maybe but the fact that he is a borderline criminal that bribes public officials and makes his money taking prescription money from little old ladies, does have an impact. Bloomberg was looking at a poll that stated that the majority of CEO's have no plans to increase payrolls regardless of the tax cuts. That and the fact the last time we gave $1.5 trillion to millionaires it lead to negligible job gains under W, tells me this is all 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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NZ IndicatorSenior MemberPosts: 9,953Senior Member
Maybe but the fact that he is a borderline criminal that bribes public officials and makes his money taking prescription money from little old ladies, does have an impact. Bloomberg was looking at a poll that stated that the majority of CEO's have no plans to increase payrolls regardless of the tax cuts. That and the fact the last time we gave $1.5 trillion to millionaires it lead to negligible job gains under W, tells me this is all a fantasy.
It must be tough not liking extra money in your pocket.
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fishingcomicSenior MemberPosts: 23,379Senior Member
Extra money in my pocket is worthless if increases in my expenses off set it and I lose Medicare and SS for my retirement years.
'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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NZ IndicatorSenior MemberPosts: 9,953Senior Member
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Replies
I've been a deficit hawk right along. Unlike the Republicans.
I recall Obama convincing/cajoling Congress during a lame duck session to let a sunset on Bush tax cuts for the rich take effect. It helped, a little, on the deficit and was a small victory against the Rs' profligate fiscal policy.
But I presented the data about the middle class moving up which is one of the causes of the gap between the rich and poor but you refuse to accept it.
Can't help you there.
Sent from my SM-G900V using Tapatalk
Yes under Obama they made some gains. This will be the end of that.
http://www.businessinsider.com/income-gap-between-upper-middle-class-and-very-rich-2017-7
https://www.usatoday.com/story/money/2017/12/20/handful-companies-promise-bonuses-pay-raises/971199001/
I'm still worried about the impact of the tax bill on the deficit but am happy to be proven wrong.
Sent from my SM-G900V using Tapatalk
You could argue that the tax rate was so low compared to when Reagan took office that it even benefited Clinton.
As for the gap between rich and poor, who said a tax cut was supposed to narrow it? The differential always goes up when the economy grows.
Citing a mayor of NY isn't?
Given that an income tax had to be specifically added to the Constitution and wasn't until 1913, I feel really confident that this wasn't a core function according to the Founding Fathers.
To be honest, I can't even come close to getting my head around this.
https://www.cnbc.com/2017/12/20/this-is-just-the-start-of-companies-increasing-spending.html
And these companies should be avoided at all costs.
Major companies including Cisco Systems Inc., Pfizer Inc. and Coca-Cola Co. say they’ll turn over most gains from proposed corporate tax cuts to their shareholders, undercutting President Donald Trump’s promise that his plan will create jobs and boost wages for the middle class.
https://www.bloomberg.com/news/articles/2017-11-29/trump-s-tax-promises-undercut-by-ceo-plans-to-reward-investors
This is horrible. People are receiving bonuses, increased wages and a lower tax rate putting more money in their pocket. How sad.
More likely it was the Chinese.
Thankful for cheap labor!
I was citing a billionaire investor.
Is that fact that he's worth $37 billion enough for you to agree with Sheldon Adelson?
The social science research that explains why Republicans are losing the battle of public opinion.
https://www.politico.com/magazine/story/2017/12/21/unpopular-gop-tax-bill-relative-deprivation-216158
It is all about "relative deprivation."
Perhaps these polls and surveys aren't as indicative of Americans opinion as they would have us believe. Surely the last election thought us that these polls can be waaay off. I’m done caring what they (polls and surveys) say anymore personally. This tax break is one of the big campaign promises that Trump ran on. Why would all of his supporters find it unpopular all of sudden? Fake news.
Including me.
Sent from my SM-G900V using Tapatalk
All I can say is time will tell.
I too will be voting with my wallet as most Americans do. Where have I heard this before.... "It's the economy, stupid".
https://www.jsonline.com/story/money/business/2017/12/21/associated-bank-boost-minimum-wage-15-pay-one-time-bonuses-when-tax-reform-signed/975154001/
Maybe but the fact that he is a borderline criminal that bribes public officials and makes his money taking prescription money from little old ladies, does have an impact. Bloomberg was looking at a poll that stated that the majority of CEO's have no plans to increase payrolls regardless of the tax cuts. That and the fact the last time we gave $1.5 trillion to millionaires it lead to negligible job gains under W, tells me this is all a fantasy.
It must be tough not liking extra money in your pocket.
What expenses are you expecting to increase?
Still conjecture because you don't know what a future congress may do.
I've gone thru life pretending that SS won't be there for me when I'm ready. You might want to plan the same way.