Why cut taxes?

[Copelius]

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

http://www.heraldextra.com/news/loca...c51686570.html

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

So how does Utah County even survive on 15 times less money than Salt Lake County when they are 1/2 the population? I understand there may be a lot more infrastructure, but 15 times as much? But then again Salt Lake County only had to dip into their savings for $367K and Utah County had to dip in for $6.7MM. I really am looking for some insight on this. Anyone smarter than I am that can provide it?

[Jeff Lebowski]

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

http://www.heraldextra.com/news/loca...c51686570.html

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

[Jeff Lebowski]

Lol. Rosie.

Read this tweet and the replies.

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[Jeff Lebowski]

Rosie O'Donnell offers bribes on twitter to get senators to vote against tax bill. Yikes.

https://www.dailywire.com/news/24896...e-ben-shapiro#

[Moliere]

Lol. Like I am going to watch a 13-minute video. Gtfo.

Yeah, but it’s 13 minutes of Rafael Cruz,
So it’s even worse than a normal 13 minute video.


Sent from my iPhone using Tapatalk

[Applejack]

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

A classic back-handed compliment! Well done.

[Jeff Lebowski]

The other Ted mentioned those and the senate democrats in his speech...

And even after that speech, zero dem senators voted for it. They hate school children.

Lol. Like I am going to watch a 13-minute video. Gtfo.

[Uncle Ted]

House passes tax bill. Zero democrats voted for it and twelve republicans voted against it. I guess they will still call it a victory. Yeesh.

The other Ted mentioned those and the senate democrats in his speech...

And even after that speech, zero dem senators voted for it. Clearly they hate school children.

[Walter Sobchak]

I am guessing the spending cuts are coming in the budget. Of course, I doubt the sending cuts will stick.

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[Uncle Ted]

No, not everyone gets a tax break. Check out the NYT graphic on the link posted above. And most of the cuts expire. This is a huge budget-busting gimmick.

WSJ sez... 5% will see their taxes go up. Consider yourself in the lucky 5%.

More than 80% of U.S. households will get a tax cut in 2018, and 5% will see their taxes go up, according to the Tax Policy Center. The middle 20% of households will get a tax cut averaging $930, amounting to 1.6% of after-tax income. Households in the top 1% get an average tax cut in 2018 of $51,140, or 3.4% of after-tax income. That is not universal; 9% of households in that top group will get a tax increase averaging $93,910.

As for the cuts expiring...

The plan cuts taxes for all income groups, on average, and it slightly shifts the remaining tax burden toward households making $100,000 and $200,000 and those making more than $1 million in 2019, according to the Joint Committee on Taxation.


Those effects fade over time and then dramatically change after 2025, when the individual income tax cuts are scheduled to expire and a tougher measure of inflation remains in place to push people into higher tax brackets. If unaltered, that will push up the tax bills of many households, according to the JCT.


Republicans did that to stay within the boundaries of the procedures they’re using to pass the bill on a simple-majority vote in the Senate.

https://www.wsj.com/articles/house-p...ill-1513711679

Yeah, maybe they should have said the hell with the senate rules and pulled a Harry Reid... i.e., invoked the nuclear option to make the cuts permanent.

[Uncle Ted]

If you were a true libertarian, you would hate this bill precisely because the republicans don't have the guts to cut spending at the same time. Giving out tax breaks is easier and more fun, but no less irresponsible.

Who said I like this bill? I think I will be actually paying more taxes as well.

I am guessing the spending cuts are coming in the budget. Of course, I doubt the sending cuts will stick.

[Moliere]

No, not everyone gets a tax break. Check out the NYT graphic on the link posted above. And most of the cuts expire. This is a huge budget-busting gimmick.

Yes, it is budget busting and not a great move from a fiscal standpoint, at least in the personal side. I like a number of the corporate tax items, which are permanent.


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[Crockett]

If you were a true libertarian, you would hate this bill precisely because the republicans don't have the guts to cut spending at the same time. Giving out tax breaks is easier and more fun, but no less irresponsible.

Democrats try to get entitlements passed, like Obamacare, and hope that will later force tax increases. Republicans try to pass tax cuts, like now, and hope that economic growth will lift us out. I prefer option 2.

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

[old_gregg]

#GOPTaxScam!

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haha. oh, ted.

[Jeff Lebowski]

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If you were a true libertarian, you would hate this bill precisely because the republicans don't have the guts to cut spending at the same time. Giving out tax breaks is easier and more fun, but no less irresponsible.