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    All Forums | Politics

    Tax Cuts

    12 Next Last»
    Doubleadownon12
    sundance
    ClubDirt
    mattbrot
    packers1992
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    Doubleadownon12
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    Posted: Dec. 14, 2017 - 2:18 PM ET #1

    24 hours ago you would have thought this market would be at 95 %, but with Corker a definate No vote and Rubio looking like he might be one as well. The Republicans only have one legislative week before Doug Jones is seated and he is certainly a No vote. That means it's game time and this bill comes down to Susan Collins. Someone who is a borderline Democrat and betrayed the President once before when she voted to save ObamaCare. Even though she has been firmly for the bill so far she might see the political winds changing and jump ship. Anyone have any thoughts on this?

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    To remove first post, remove entire topic.

    24 hours ago you would have thought this market would be at 95 %, but with Corker a definate No vote and Rubio looking like he might be one as well. The Republicans only have one legislative week before Doug Jones is seated and he is certainly a No vote. That means it's game time and this bill comes down to Susan Collins. Someone who is a borderline Democrat and betrayed the President once before when she voted to save ObamaCare. Even though she has been firmly for the bill so far she might see the political winds changing and jump ship. Anyone have any thoughts on this?

     
    sundance
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    Posted: Dec. 14, 2017 - 2:24 PM ET #2

    I don't think this bill passes. Too many phony, Senate Republicans with horrible leadership under McConnell. McCain decides to be the 'no' vote to bring down the bill. Great theatre inside the 'Club of 100'.
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    I don't think this bill passes. Too many phony, Senate Republicans with horrible leadership under McConnell. McCain decides to be the 'no' vote to bring down the bill. Great theatre inside the 'Club of 100'.
     
    ClubDirt
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    Posted: Dec. 14, 2017 - 3:14 PM ET #3

    rubio will always do as he's told by his owners. 


    as an aside, has any objective or marginally objective source indicated this bill will do anything other than transfer massive wealth to the ultra rich and explode the deficit even more?
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    rubio will always do as he's told by his owners. 


    as an aside, has any objective or marginally objective source indicated this bill will do anything other than transfer massive wealth to the ultra rich and explode the deficit even more?
     
    mattbrot
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    Posted: Dec. 14, 2017 - 3:39 PM ET #4

    Quote Originally Posted by sundance:

    I don't think this bill passes. Too many phony, Senate Republicans with horrible leadership under McConnell. McCain decides to be the 'no' vote to bring down the bill. Great theatre inside the 'Club of 100'.

    So aside from the angle of "Trump getting a win" do you really think that this tax bill should be passed? Do you really think it will be good for the country?

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    Quote Originally Posted by sundance:

    I don't think this bill passes. Too many phony, Senate Republicans with horrible leadership under McConnell. McCain decides to be the 'no' vote to bring down the bill. Great theatre inside the 'Club of 100'.

    So aside from the angle of "Trump getting a win" do you really think that this tax bill should be passed? Do you really think it will be good for the country?

     
    sundance
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    Posted: Dec. 14, 2017 - 3:58 PM ET #5

    There is no way to know until the bill is put in motion. Marc Levin, conservative talk show host is against the bill. I personally would like to keep more of my hard earned money every 2 weeks. Neither side of the Establishment wants a Trump tax bill victory. If me and you are drinking I would bet you a drink it does not pass.
     
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    There is no way to know until the bill is put in motion. Marc Levin, conservative talk show host is against the bill. I personally would like to keep more of my hard earned money every 2 weeks. Neither side of the Establishment wants a Trump tax bill victory. If me and you are drinking I would bet you a drink it does not pass.
     
     
    packers1992
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    Posted: Dec. 14, 2017 - 4:09 PM ET #6

    Well as you know everyone at Trump rallies had one big chant that led Trump to victory. they chanted:

    "We're Tired of Faxes! Cut the Taxes!"an_roll_laugh

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    Well as you know everyone at Trump rallies had one big chant that led Trump to victory. they chanted:

    "We're Tired of Faxes! Cut the Taxes!"an_roll_laugh

     
    mattbrot
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    Posted: Dec. 14, 2017 - 4:40 PM ET #7

    Quote Originally Posted by packers1992:

    Well as you know everyone at Trump rallies had one big chant that led Trump to victory. they chanted: "We're Tired of Faxes! Cut the Taxes!"

     

    but the main problem there is that the majority of those people at those rallies and all of us in here will not benefit. By almost all accounts these groups will be hurt at the expense of the uber wealthy. This is out there every where you turn and wherever you look. I am not sure how people do not get this. 

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    Quote Originally Posted by packers1992:

    Well as you know everyone at Trump rallies had one big chant that led Trump to victory. they chanted: "We're Tired of Faxes! Cut the Taxes!"

     

    but the main problem there is that the majority of those people at those rallies and all of us in here will not benefit. By almost all accounts these groups will be hurt at the expense of the uber wealthy. This is out there every where you turn and wherever you look. I am not sure how people do not get this. 

     
    Doubleadownon12
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    Posted: Dec. 14, 2017 - 4:51 PM ET #8

    Quote Originally Posted by ClubDirt:

    rubio will always do as he's told by his owners.  as an aside, has any objective or marginally objective source indicated this bill will do anything other than transfer massive wealth to the ultra rich and explode the deficit even more?

     

    Agreed on Rubio, he is just stalling to get more goodies. The greedy little rat that he is. But read the WSJ report on the bill, it will finally untether the heavyhanded regulations of the Obama regime and give large corporations such a shot in the arm they will begin hiring again. More money for companies means more jobs and more demand for products which means more money for companies.

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    Quote Originally Posted by ClubDirt:

    rubio will always do as he's told by his owners.  as an aside, has any objective or marginally objective source indicated this bill will do anything other than transfer massive wealth to the ultra rich and explode the deficit even more?

     

    Agreed on Rubio, he is just stalling to get more goodies. The greedy little rat that he is. But read the WSJ report on the bill, it will finally untether the heavyhanded regulations of the Obama regime and give large corporations such a shot in the arm they will begin hiring again. More money for companies means more jobs and more demand for products which means more money for companies.

     
    ClubDirt
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    Posted: Dec. 14, 2017 - 5:00 PM ET #9

    give large corporations such a shot in the arm they will begin hiring again. More money for companies means more jobs and more demand for products which means more money for companies.


    the old trickle down effect. 

    the has never worked.  and it certainly won;t start working in the age of automation. 
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    give large corporations such a shot in the arm they will begin hiring again. More money for companies means more jobs and more demand for products which means more money for companies.


    the old trickle down effect. 

    the has never worked.  and it certainly won;t start working in the age of automation. 
     
    mattbrot
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    Posted: Dec. 14, 2017 - 5:10 PM ET #10

    Quote Originally Posted by ClubDirt:

    give large corporations such a shot in the arm they will begin hiring again. More money for companies means more jobs and more demand for products which means more money for companies.the old trickle down effect.  the has never worked
    .  and it certainly won;t start working in the age of automation.

     

    an_light the biggest farce known to man.

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    Quote Originally Posted by ClubDirt:

    give large corporations such a shot in the arm they will begin hiring again. More money for companies means more jobs and more demand for products which means more money for companies.the old trickle down effect.  the has never worked
    .  and it certainly won;t start working in the age of automation.

     

    an_light the biggest farce known to man.

     
    ClubDirt
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    Posted: Dec. 14, 2017 - 5:15 PM ET #11

    it's not that complicated.  here is a chart of after tax corporate profits.  as you can see, they are at historic highs.  so, one, why do the corporations and the ultra rich need a massive transfer of wealth at the expense of the poor/middle class and the deficit?

    https://fred.stlouisfed.org/series/CP


    but maybe you think they do because it will trickle down.


    if corporate profits are so high, why is the income gap also historically high if that wealth is supposed to trickle down.

    https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html


    why is wage growth down from the early 200's and late 1990's and flat the last couple of years?

    https://www.frbatlanta.org/chcs/wage-growth-tracker.aspx?panel=1


    with the stock market at historic highs and corporate profit at historic highs and wealth among the top 2% or so at historic highs, what does a new massive transfer of wealth to corporations and the ultra rich do other than give a lot more money to corporations and the ultra rich?


    nothing, of course.  i know you guys aren't completely naive.  there's one thing and one thing only happening here.  the ultra rich and corporations paid a lot of money to put these republicans in government and they didn't do it for their health.  they expect a fat return on their investment.  and it looks like they are getting it. 




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    it's not that complicated.  here is a chart of after tax corporate profits.  as you can see, they are at historic highs.  so, one, why do the corporations and the ultra rich need a massive transfer of wealth at the expense of the poor/middle class and the deficit?

    https://fred.stlouisfed.org/series/CP


    but maybe you think they do because it will trickle down.


    if corporate profits are so high, why is the income gap also historically high if that wealth is supposed to trickle down.

    https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html


    why is wage growth down from the early 200's and late 1990's and flat the last couple of years?

    https://www.frbatlanta.org/chcs/wage-growth-tracker.aspx?panel=1


    with the stock market at historic highs and corporate profit at historic highs and wealth among the top 2% or so at historic highs, what does a new massive transfer of wealth to corporations and the ultra rich do other than give a lot more money to corporations and the ultra rich?


    nothing, of course.  i know you guys aren't completely naive.  there's one thing and one thing only happening here.  the ultra rich and corporations paid a lot of money to put these republicans in government and they didn't do it for their health.  they expect a fat return on their investment.  and it looks like they are getting it. 




     
    ClubDirt
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    Posted: Dec. 14, 2017 - 5:37 PM ET #12

    here's one more.  corporate cash reserves are actually at a record $1.9 trillion.  i couldn't find a recent chart but here's one a couple of years old.


    https://www.ft.com/content/368ef430-1e24-11e6-a7bc-ee846770ec15


    so here's another $1.9 trillion with the new tax wealth transfer.  any time you're ready to start hiring and paying better wages, just let us know. 
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    here's one more.  corporate cash reserves are actually at a record $1.9 trillion.  i couldn't find a recent chart but here's one a couple of years old.


    https://www.ft.com/content/368ef430-1e24-11e6-a7bc-ee846770ec15


    so here's another $1.9 trillion with the new tax wealth transfer.  any time you're ready to start hiring and paying better wages, just let us know. 
     
    Midnight1
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    Posted: Dec. 14, 2017 - 6:02 PM ET #13

    A family of 4 making 75k will get approximately $1.42 more to spend each day. That's not even enough to get a hot dog & Pepsi @ Costco.
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    A family of 4 making 75k will get approximately $1.42 more to spend each day. That's not even enough to get a hot dog & Pepsi @ Costco.
     
    sundance
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    Posted: Dec. 14, 2017 - 6:09 PM ET #14

    They need to put a torch to the bill if that is true Midnight. I have no reason to doubt the numbers.

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    They need to put a torch to the bill if that is true Midnight. I have no reason to doubt the numbers.

     
    SarasotaSlim
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    Posted: Dec. 14, 2017 - 7:52 PM ET #15

    If they want McCain's vote they better hurry up........... Doctors found a second tumor in his brain, in the same place as the surgically-removed original growth..................
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    If they want McCain's vote they better hurry up........... Doctors found a second tumor in his brain, in the same place as the surgically-removed original growth..................
     
    Midnight1
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    Posted: Dec. 14, 2017 - 8:30 PM ET #16

    I haven't always agreed with McCain but to me he's always been an American hero.

    I heard a story about him when he was captured in Viet Nam. When asked to name his superiors, he supposedly named the Pittsburgh Pirates starting lineup. Stargell, Clemente etc . I added a link that recaps his time as a POW. It says a lot about the times, the war & the man. 

    https://www.usnews.com/news/articles/2008/01/28/john-mccain-prisoner-of-war-a-first-person-account
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    I haven't always agreed with McCain but to me he's always been an American hero.

    I heard a story about him when he was captured in Viet Nam. When asked to name his superiors, he supposedly named the Pittsburgh Pirates starting lineup. Stargell, Clemente etc . I added a link that recaps his time as a POW. It says a lot about the times, the war & the man. 

    https://www.usnews.com/news/articles/2008/01/28/john-mccain-prisoner-of-war-a-first-person-account
     
    thirdperson
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    Posted: Dec. 14, 2017 - 9:46 PM ET #17

    Historically, tax cuts occur often in the US.  Not hard for Bush, Obama and probably Trump too.  Since republicans are desperate for any legislative victory, tax bill is likely to pass even if it is flawed.

    However most Americans feel that the rich don't deserve more tax cuts.  Most economists doubt that tax cuts could boost economy and jobs so much that they pay for themselves.  Tax cuts are less effective in creating jobs than government spending in infrastructure and social programs. No solid proof that voodoo economics worked for Reagan or other Presidents.

    Past tax cuts resulted in greater government deficits and debt.  In Kansas, big tax cuts lead to spending cuts to vital programs and higher taxes afterwards.  US has the most income inequality in the world.  But tax cuts can increase gap between rich and poor.
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    Historically, tax cuts occur often in the US.  Not hard for Bush, Obama and probably Trump too.  Since republicans are desperate for any legislative victory, tax bill is likely to pass even if it is flawed.

    However most Americans feel that the rich don't deserve more tax cuts.  Most economists doubt that tax cuts could boost economy and jobs so much that they pay for themselves.  Tax cuts are less effective in creating jobs than government spending in infrastructure and social programs. No solid proof that voodoo economics worked for Reagan or other Presidents.

    Past tax cuts resulted in greater government deficits and debt.  In Kansas, big tax cuts lead to spending cuts to vital programs and higher taxes afterwards.  US has the most income inequality in the world.  But tax cuts can increase gap between rich and poor.
     
    skoda
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    Posted: Dec. 14, 2017 - 9:49 PM ET #18

    Quote Originally Posted by SarasotaSlim:

    If they want McCain's vote they better hurry up........... Doctors found a second tumor in his brain, in the same place as the surgically-removed original growth..................

    Quote Originally Posted by SarasotaSlim:

    If they want McCain's vote they better hurry up........... Doctors found a second tumor in his brain, in the same place as the surgically-removed original growth..................


    Very unfortunate! Once they cut you open cancer spreads regardless of what it said! I will never give a dime to Cancer research b/c the winners are those who fundraise for a cure. My Uncle, exactly as McCain showed great progress after his surgery then suddenly became bedridden. 


    As far as the topic..... interested to see my Febuary paystub! 

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    Quote Originally Posted by SarasotaSlim:

    If they want McCain's vote they better hurry up........... Doctors found a second tumor in his brain, in the same place as the surgically-removed original growth..................

    Quote Originally Posted by SarasotaSlim:

    If they want McCain's vote they better hurry up........... Doctors found a second tumor in his brain, in the same place as the surgically-removed original growth..................


    Very unfortunate! Once they cut you open cancer spreads regardless of what it said! I will never give a dime to Cancer research b/c the winners are those who fundraise for a cure. My Uncle, exactly as McCain showed great progress after his surgery then suddenly became bedridden. 


    As far as the topic..... interested to see my Febuary paystub! 

     
    bunny651
    bunny651
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    Posted: Dec. 14, 2017 - 10:03 PM ET #19

    Quote Originally Posted by ClubDirt:

    it's not that complicated.  here is a chart of after tax corporate profits.  as you can see, they are at historic highs.  so, one, why do the corporations and the ultra rich need a massive transfer of wealth at the expense of the poor/middle class and the deficit?

    https://fred.stlouisfed.org/series/CP


    but maybe you think they do because it will trickle down.


    if corporate profits are so high, why is the income gap also historically high if that wealth is supposed to trickle down.

    https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html


    why is wage growth down from the early 200's and late 1990's and flat the last couple of years?

    https://www.frbatlanta.org/chcs/wage-growth-tracker.aspx?panel=1


    with the stock market at historic highs and corporate profit at historic highs and wealth among the top 2% or so at historic highs, what does a new massive transfer of wealth to corporations and the ultra rich do other than give a lot more money to corporations and the ultra rich?


    nothing, of course.  i know you guys aren't completely naive.  there's one thing and one thing only happening here.  the ultra rich and corporations paid a lot of money to put these republicans in government and they didn't do it for their health.  they expect a fat return on their investment.  and it looks like they are getting it. 





    Aside from that, how can someone call himself or herself a conservative if they support a bill, by all accounts, add a  huge amount to the deficit?
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    Quote Originally Posted by ClubDirt:

    it's not that complicated.  here is a chart of after tax corporate profits.  as you can see, they are at historic highs.  so, one, why do the corporations and the ultra rich need a massive transfer of wealth at the expense of the poor/middle class and the deficit?

    https://fred.stlouisfed.org/series/CP


    but maybe you think they do because it will trickle down.


    if corporate profits are so high, why is the income gap also historically high if that wealth is supposed to trickle down.

    https://www.nytimes.com/interactive/2017/08/07/opinion/leonhardt-income-inequality.html


    why is wage growth down from the early 200's and late 1990's and flat the last couple of years?

    https://www.frbatlanta.org/chcs/wage-growth-tracker.aspx?panel=1


    with the stock market at historic highs and corporate profit at historic highs and wealth among the top 2% or so at historic highs, what does a new massive transfer of wealth to corporations and the ultra rich do other than give a lot more money to corporations and the ultra rich?


    nothing, of course.  i know you guys aren't completely naive.  there's one thing and one thing only happening here.  the ultra rich and corporations paid a lot of money to put these republicans in government and they didn't do it for their health.  they expect a fat return on their investment.  and it looks like they are getting it. 





    Aside from that, how can someone call himself or herself a conservative if they support a bill, by all accounts, add a  huge amount to the deficit?
     
    packers1992
    packers1992
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    Posted: Dec. 14, 2017 - 10:14 PM ET #20

    Quote Originally Posted by Midnight1:

    I haven't always agreed with McCain but to me he's always been an American hero.I heard a story about him when he was captured in Viet Nam. When asked to name his superiors, he supposedly named the Pittsburgh Pirates starting lineup. Stargell, Clemente etc . I added a link that recaps his time as a POW. It says a lot about the times, the war & the man. https://www.usnews.com/news/articles/2008/01/28/john-mccain-prisoner-of-war-a-first-person-account

     

    You mean Fake War hero

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    Quote Originally Posted by Midnight1:

    I haven't always agreed with McCain but to me he's always been an American hero.I heard a story about him when he was captured in Viet Nam. When asked to name his superiors, he supposedly named the Pittsburgh Pirates starting lineup. Stargell, Clemente etc . I added a link that recaps his time as a POW. It says a lot about the times, the war & the man. https://www.usnews.com/news/articles/2008/01/28/john-mccain-prisoner-of-war-a-first-person-account

     

    You mean Fake War hero

     
    Doubleadownon12
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    Posted: Dec. 14, 2017 - 10:15 PM ET #21

    I'm willing to call Rubio's bluff, there's no way he will go down in infamy as the deciding vote that killed tax reform. Republicans need a win here and there is nothing else on the horizon. This is a once in a lifetime opportunity to get permanent tax reform passed and I think it gets done next week.

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    I'm willing to call Rubio's bluff, there's no way he will go down in infamy as the deciding vote that killed tax reform. Republicans need a win here and there is nothing else on the horizon. This is a once in a lifetime opportunity to get permanent tax reform passed and I think it gets done next week.

     
    KeyElement
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    Posted: Dec. 14, 2017 - 10:25 PM ET #22

    Quote Originally Posted by skoda:

    QUOTE Originally Posted by SarasotaSlim:  As far as the topic..... interested to see my Febuary paystub!
    Gonna fall for it? If your paycheck goes up $10 per week and at the end of the year your taxes are $600 higher than before (all other things being equal), will you still feel the tax cut was for you? Millions of people will fall for that. The lower tax rate will give you the $10 per week, but the loss of deductions will raise your final tax bill at the end of the year. Your paycheck deduction is not the gauge of the taxes you pay, the fnal bill is. BOL  

     

    Now and then even a BLIND squirrel can find an acorn
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    Quote Originally Posted by skoda:

    QUOTE Originally Posted by SarasotaSlim:  As far as the topic..... interested to see my Febuary paystub!
    Gonna fall for it? If your paycheck goes up $10 per week and at the end of the year your taxes are $600 higher than before (all other things being equal), will you still feel the tax cut was for you? Millions of people will fall for that. The lower tax rate will give you the $10 per week, but the loss of deductions will raise your final tax bill at the end of the year. Your paycheck deduction is not the gauge of the taxes you pay, the fnal bill is. BOL  

     

     
    KeyElement
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    Posted: Dec. 14, 2017 - 10:29 PM ET #23

    Quote Originally Posted by Doubleadownon12:

    I'm willing to call Rubio's bluff, there's no way he will go down in infamy as the deciding vote that killed tax reform. Republicans need a win here and there is nothing else on the horizon. This is a once in a lifetime opportunity to get permanent tax reform passed and I think it gets done next week.
    Interesting choice of words. What is permanent? One to three years, until a different congress and president can trash the whole thing? 

    Now and then even a BLIND squirrel can find an acorn
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    Quote Originally Posted by Doubleadownon12:

    I'm willing to call Rubio's bluff, there's no way he will go down in infamy as the deciding vote that killed tax reform. Republicans need a win here and there is nothing else on the horizon. This is a once in a lifetime opportunity to get permanent tax reform passed and I think it gets done next week.
    Interesting choice of words. What is permanent? One to three years, until a different congress and president can trash the whole thing? 

     
    bettingforfun
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    Posted: Dec. 14, 2017 - 10:29 PM ET #24

    with the stock market at historic highs and corporate profit at historic highs and wealth among the top 2% or so at historic highs, what does a new massive transfer of wealth to corporations and the ultra rich do other than give a lot more money to corporations and the ultra rich?

    Absolutely true......................and it happened under Obama.

    This tax bill will increase the gap even more.  Not even a question whether it wil or not.
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    with the stock market at historic highs and corporate profit at historic highs and wealth among the top 2% or so at historic highs, what does a new massive transfer of wealth to corporations and the ultra rich do other than give a lot more money to corporations and the ultra rich?

    Absolutely true......................and it happened under Obama.

    This tax bill will increase the gap even more.  Not even a question whether it wil or not.
     
     
    Doubleadownon12
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    Posted: Dec. 15, 2017 - 12:47 AM ET #25

    Quote Originally Posted by thirdperson:

    Historically, tax cuts occur often in the US.  Not hard for Bush, Obama and probably Trump too.  Since republicans are desperate for any legislative victory, tax bill is likely to pass even if it is flawed.However most Americans feel that the rich don't deserve more tax cuts.  Most economists doubt that tax cuts could boost economy and jobs so much that they pay for themselves.  Tax cuts are less effective in creating jobs than government spending in infrastructure and social programs. No solid proof that voodoo economics worked for Reagan or other Presidents. Past tax cuts resulted in greater government deficits and debt.  In Kansas, big tax cuts lead to spending cuts to vital programs and higher taxes afterwards.  US has the most income inequality in the world.  But tax cuts can increase gap between rich and poor.

     

    Keep spouting the liberal fake news slogans. What do you want Socialism? Why not give freebies to everyone and no one will ever have to work again? America stands for Capitalism and we must do everything we can to make sure it prospers.

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    Quote Originally Posted by thirdperson:

    Historically, tax cuts occur often in the US.  Not hard for Bush, Obama and probably Trump too.  Since republicans are desperate for any legislative victory, tax bill is likely to pass even if it is flawed.However most Americans feel that the rich don't deserve more tax cuts.  Most economists doubt that tax cuts could boost economy and jobs so much that they pay for themselves.  Tax cuts are less effective in creating jobs than government spending in infrastructure and social programs. No solid proof that voodoo economics worked for Reagan or other Presidents. Past tax cuts resulted in greater government deficits and debt.  In Kansas, big tax cuts lead to spending cuts to vital programs and higher taxes afterwards.  US has the most income inequality in the world.  But tax cuts can increase gap between rich and poor.

     

    Keep spouting the liberal fake news slogans. What do you want Socialism? Why not give freebies to everyone and no one will ever have to work again? America stands for Capitalism and we must do everything we can to make sure it prospers.

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