Why cut taxes?

[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.

[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.

[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.

[Moliere]

http://www.businessinsider.com/trump...loyees-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.


Sent from my iPhone using Tapatalk

[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]

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.


Sent from my iPhone using Tapatalk

[Uncle Ted]

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

What is another trillion and a half (over Drumpf's 7 more years in white house and then some) when Obama and Bush Jr. added about $14 trillion to the debt during their white house stay (Obama $7.92 trillion and Bush Jr. $5.85 trillion)?

[Jeff Lebowski]

What is another trillion and a half (over Drumpf's 7 more years in white house and then some) when Obama and Bush Jr. added about $14 trillion to the debt during their white house stay (Obama $7.92 trillion and Bush Jr. $5.85 trillion)?

Thank you, Uncle Whatabout.

[Uncle Ted]

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.

Damn that corporate welfare... it just made Boeing drop $300M on its employees and charity!

Embedded Tweet

[Jeff Lebowski]

Is Rosie dead yet?

[Uncle Ted]

I agree with the corporate rate cut. Long overdue.

O Canada agrees!

Trump’s tax tsunami is about to wallop Canadian jobs and investment

A tax tsunami is set to wallop the global economy this week as the U.S. proceeds with its most extensive tax package since 1986. U.S. tax reform will have an immense impact on the global economy, not just in terms of investment but also corporate bond flows and the distribution of government tax revenues. As America’s largest trading partner, Canada’s economy is about to get heavily side-swiped.

[...]


[...]

http://business.financialpost.com/op...and-investment


To my friends to the North...

Embedded Tweet

[Jeff Lebowski]

LOL @ Canadians.

[byu71]

what do they think about paying it back in the future

I didn't ask.
I do know if the Republican started working on entitlement reform Nancy and Chuck would really lose it. Might even show ads shoving granny off of a cliff.

[Crockett]

Exactly.

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

Keeping more of MY money is not the same as giving people free stuff.

[Jeff Lebowski]

Keeping more of MY money is not the same as giving people free stuff.

If the budget is not balanced, you are not "keeping more of your money". You are spending more of your grandkids' money. Freeloader.