Why cut taxes?

[Moliere]

The problem with just a corporate rate reduction is that the Democrats would spin it as corporate welfare, regardless of whether or not it was the right thing to do to make the USA more competitive in the world market.

My not so bold prediction is that we’ll have a Democrat president when the personal tax changes expire and the cuts will be kept for the middle class and mostly expire for the wealthy.


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[Jeff Lebowski]

I get the sentiment here and basically agree with it, but until we solve the entitlements bomb w/r/t our demographics, bills like this tax cut are a drop in the bucket.

That said, Trump's motivations are clear and they are not pure (are they ever with him?) He wanted a big win and he was going to reward his supporters and punish his enemies as much as he could in the bill. It all might end up being worth it to me just for the corporate tax changes. I've always thought that was where we could get the most bang for our buck in the economy with a tax code revision. Corporate taxes are a relatively small portion of overall federal receipts, and bringing the corporate tax rate in line with the rest of the world will have a lot of benefit. Trump is certainly getting some good immediate publicity with AT&T, Wells Fargo, and others announcing bonuses for all their employees and/or raising wages as a result of the bill.

I agree with the corporate rate cut. Long overdue.

[Moliere]

http://www.businessinsider.com/trump-gop-tax-reform-bill-att-announces-huge-bonuses-for-employees-2017-12

"Once tax reform is signed into law, AT&T plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T US employees — all union-represented, non-management and front-line managers," CEO Randall Stephenson said in a press release. "If the president signs the bill before Christmas, employees will receive the bonus over the holidays."

Maybe ATT is being nice to its employees or maybe they are just trying to find a way to get the Trump administration to back off of its disapproval of the Time Warner merger.


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[Omaha 680]

Amazing how many people make this argument about "keeping your money" while piling up federal debt that their grandkids will have to pay off.

I get the sentiment here and basically agree with it, but until we solve the entitlements bomb w/r/t our demographics, bills like this tax cut are a drop in the bucket.

That said, Trump's motivations are clear and they are not pure (are they ever with him?) He wanted a big win and he was going to reward his supporters and punish his enemies as much as he could in the bill. It all might end up being worth it to me just for the corporate tax changes. I've always thought that was where we could get the most bang for our buck in the economy with a tax code revision. Corporate taxes are a relatively small portion of overall federal receipts, and bringing the corporate tax rate in line with the rest of the world will have a lot of benefit. Trump is certainly getting some good immediate publicity with AT&T, Wells Fargo, and others announcing bonuses for all their employees and/or raising wages as a result of the bill.

[Jeff Lebowski]

You don’t get re-elected by reducing the budget. You get re-elected by putting more cash in people’s pockets now.

Exactly.

Wasn't Crocket complaining recently about democrats buying votes via entitlements? Aren't republicans basically doing the same thing? He must be furious.

[Jeff Lebowski]

It is amazing how so many people seem to look at it as the government giving money to people rather than you getting to keep money you earn or stuff you own.

Amazing how many people make this argument about "keeping your money" while piling up federal debt that their grandkids will have to pay off.

[Moliere]

You don’t get re-elected by reducing the budget. You get re-elected by putting more cash in people’s pockets now.


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[Maximus]

It is amazing how so many people seem to look at it as the government giving money to people rather than you getting to keep money you earn or stuff you own.

Just loses Repubs all credibility about being "fiscal conservative".

[creekster]

It is amazing how so many people seem to look at it as the government giving money to people rather than you getting to keep money you earn or stuff you own.

[Maximus]

My kids are all saving taxes under the new system. How,gullible are the public. They elect Trump and it looks like a majority as far as this tax bill is concerned believe the never ending BS Nancy and Chuck spew.

Oh and it looks,like the combined savings for the kids offsets my increas.

what do they think about paying it back in the future

[byu71]

My kids are all saving taxes under the new system. How,gullible are the public. They elect Trump and it looks like a majority as far as this tax bill is concerned believe the never ending BS Nancy and Chuck spew.

Oh and it looks,like the combined savings for the kids offsets my increas.

[BigFatMeanie]

WTF! Look at Laura and Seth... They should be paying $2.5M in taxes and not 3% less!

Joe and Ethan look a little too young and hipster to be retired.
I wonder if Seth brings home the bacon or if Laura is his Sugar Momma? Laura'a haircut makes me think she's Sugar Momma and has Seth by the nuts.
James must be a moron. He's single with no kids and he only makes $30K. You can work at Walmart and make $30k.
And you know Linnea wears the pants in that family because she's wearing a tie. She probably goes to the office each day and wears the tie to make her seem tougher and compete against white male privilege. Soren is probably a "marketer" who works from home doing "consulting" while he tends the kids.

[Uncle Ted]

Utah county with a budget shortfall. Looking to raise taxes next year.

http://www.heraldextra.com/news/local/govt-and-politics/utah-county-passes-million-budget-will-explore-tax-increase-next/article_78fab15f-26a2-5f03-85bc-698c51686570.html

Dummies. They should cut taxes and spur the local economy instead.

Yeah, what a bunch of dummies... It is no wonder you will be paying more taxes under the republican tax plan. You live in one of those high state and local tax places (not to mention being rich). You should move to Texas.

[falafel]

Lol. Rosie.

Read this tweet and the replies.

Embedded Tweet

That is incredible. Funny that someone actually reported her to the FBI.

[frank ryan]

BTW, Ted, you are one of my favorite posters here. Keep it coming, my man.

Trumpers gotta stick together!