one benefit of tax cuts

[Jim in CT]

since the tax cuts were signed, over a trillion dollars of money has been repatriated back to the US.

No, not every cent has been used to feed the hungry. Yes, much of it has gone into the hands of people
who were already rich. But it had the effect of benefitting many of us. It was a good thing.

Waiting for CNN and MSNBC to report on this...

https://video.foxnews.com/v/6118576945001#sp=show-clips

[spence]

Yea, dividends and buybacks are great for instutional investors and the rest of us can pick up the deficit spending. And this is Trump’s signature accomplishment?
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[Jim in CT]

Originally Posted by spence

Yea, dividends and buybacks are great for instutional investors and the rest of us can pick up the deficit spending. And this is Trump’s signature accomplishment?
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you might have heard that unemployment is down. A trillion dollars showing up, helps that.

even if all that money goes to
institutional investors as dividends ( absurd, but let’s go along), they pay taxes. which means more
money for programs you like, like
late term abortions and free everything.
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[Jim in CT]

buybacks don’t benefit retail investors by the same
exact percentage that they benefit institutional investors?

Das vadanya, komrade.
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[Pete F.]

Keep repeating the party line just like State TV, comrade

Putin's Puppet has you well trained.

The overhaul of the federal tax law in 2017 was the signature legislative achievement of Floridaman’s presidency.

The biggest change to the tax code in three decades, the law slashed taxes for big companies, part of an effort to coax them to invest more in the United States and to discourage them from stashing profits in overseas tax havens.

Corporate executives, major investors and the wealthiest Americans hailed the tax cuts as a once-in-a-generation boon not only to their own fortunes but also to the United States economy.

But big companies wanted more — and, not long after the bill became law in December 2017, the Floridaman administration began transforming the tax package into a greater windfall for the world’s largest corporations and their shareholders. The tax bills of many big companies have ended up even smaller than what was anticipated when Floridaman signed the bill.

The budget deficit has jumped more than 50 percent since Floridaman took office and is expected to top $1 trillion in 2020, partly as a result of the tax law.

A majority of Americans have long believed that upper-income Americans and corporations pay too little in taxes.
Did Floridaman’s law address this situation?
Americans say no, Americans correctly perceived that Floridaman’s law did little to change this and in fact benefited corporations and the rich.

[Jim in CT]

i’m the one regurgitating party talking points. Not you.

My taxes went down $2500 a year Pete, i’m not a corporation nor am i wealthy.

And how is it that budget deficits went up 50% to where we are now? Are you going only by Obama’s lowest deficit? Because he had
more than one deficit north of a trillion.

The debt is a major, major issue. But I’d bet you didn’t utter a syllable of concern about the debt from 2009-2016, which means your concern is selective, which means it’s fake.

Some facts will paint Trump
in a favorable light Pete, and those facts are just as worth knowing, as the ones that make him look ugly.

I am totally fine praising him
or criticizing him. you ignore everything that makes him look good, and obsess over the bad.

So which one of us is a party hack, and which one thinks for himself?
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[Jim in CT]

Pete, given your deep and sincere concern for
our deficits and debt, which democrat candidate do you support, and what is their plan to reign in the debt? I assume you don’t support anyone who endorses an agenda likely to add meaningfully to the debt? which democrat is that? I’ll give them a look.
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[Pete F.]

Anybody other than Trump, worry about the rest later.

More and more comes out each day.

Bolton, Pompeo and Defense Secy Esper met with Trump in the Oval Office in August to try to convince him it was in US interests to release military aid to Ukraine. Trump refused.

Extraordinary that this extortion plot — which abused our national security for Trump’s interests — went on for nearly 3 months with little notice until the whistleblower came forward. Makes one think about what else may be happening behind the scenes.

Both Mulvaney and Blair have declined to cooperate with impeachment investigators. Mulvaney told associates he stepped away whenever Trump spoke with Rudy Giuliani and thus had little knowledge about their Ukraine efforts. Congressional testimony from Fiona Hill has disputed that.

Criminal law 101:
-putting your hands over your ears so you don’t hear what you’re pretty sure is crime talk, doesn’t exculpate you;
-no attorney client privilege here for Floridaman & Giuliani. It’s a failed mob tactic;
-Floridaman & Guiliani look very guilty.

Everybody in the WH is trying to get away without an indictment.

The Trumplican Party is on it's way to Armageddon in 2020, will make 1964 look like a small war.

[Jim in CT]

Pete, you couldn’t run away from my question fast enough, could you?

If your plan, as you stated, is to vote for Warren or Sanders if they win the nomination, that necessarily means you don’t give a crap about the debt. So drop it.
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[Sea Dangles]

Originally Posted by Jim in CT

Pete, you couldn’t run away from my question fast enough, could you?

If your plan, as you stated, is to vote for Warren or Sanders if they win the nomination, that necessarily means you don’t give a crap about the debt. So drop it.
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This question is kryptonite to the directionless.
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[Pete F.]

Originally Posted by Pete F.

How must the republican members of both the House & the Senate feel collectively as group when they all know that what they are defending is the most corrupt Impeached President of the US. No educated person could think otherwise with amount of factual evidence. Sad.

Originally Posted by Sea Dangles

This question is kryptonite to the directionless.
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You ignore the important and focus on the drivel and smokescreen blown out by the administration to cover their illegal actions.

[Jim in CT]

Originally Posted by Sea Dangles

This question is kryptonite to the directionless.
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of course it is, and it’s terrific to watch them try to squirm their way out of it.

same as the war on women. I dont want to hear about chivalry from anyone who ever supported a Clinton or a Kennedy.
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[Pete F.]

Originally Posted by Jim in CT

of course it is, and it’s terrific to watch them try to squirm their way out of it.

same as the war on women. I dont want to hear about chivalry from anyone who ever supported a Clinton or a Kennedy.
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You claim a great benefit, just think you too could go to the bank and take out a second mortgage.
You would be really rich then.
Your claim re Obama is false anyways, GDP and unemployment numbers bear that out, Floridaman, despite his best efforts hasn’t blown it yet. It will come and a rudderless ship that someone failed to fuel when he had the chance will make for an interesting voyage.
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Posted from my iPhone/Mobile device

[Jim in CT]

Originally Posted by Pete F.

You claim a great benefit, just think you too could go to the bank and take out a second mortgage.
You would be really rich then.
Your claim re Obama is false anyways, GDP and unemployment numbers bear that out, Floridaman, despite his best efforts hasn’t blown it yet. It will come and a rudderless ship that someone failed to fuel when he had the chance will make for an interesting voyage.
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Posted from my iPhone/Mobile device

I have a second mortgage. And
my finances are just fine.

what claim of mine regarding obama, hasn’t been borne out yet? that he added trillions to the debt?
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[Sea Dangles]

Originally Posted by Jim in CT

of course it is, and it’s terrific to watch them try to squirm their way out of it.

same as the war on women. I dont want to hear about chivalry from anyone who ever supported a Clinton or a Kennedy.
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He keeps responding with yada yada but still can’t find answers. A lot to say,but saying nothing.
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[Pete F.]

How must the republican members of both the House & the Senate feel collectively as group when they all know that what they are defending is the most corrupt Impeached President of the US. No educated person could think otherwise with amount of factual evidence. Sad.

[Pete F.]

Apparently you don't care either and you sold out for $2500. Do you think that comes close to your increased share of the debt?

During the 2016 presidential campaign, Floridaman promised he would eliminate the nation’s debt in eight years. Instead, his budgets would add $9.1 trillion during that time. It would increase the U.S. debt to $29 trillion according to Floridaman's budget estimates.

Floridaman’s Two Strategies to Reduce the Debt
Floridaman had two strategies to reduce the U.S. debt. He promised to grow the economy 6% annually to increase tax revenues. But once in office, he lowered his growth estimate to 3.5% to 4% and he has yet to achieve that.


These projections are above the 2%-3% healthy growth rate. When growth is more than that, it creates inflation. Too much money chases too few good business projects. Irrational exuberance grips investors. They create a boom-bust cycle that ends in a recession. Floridaman’s Fiscal Year 2020 budget lowered annual growth rates down to between 2.4% and 2.9% annually.

Floridaman promised to achieve 4% growth with tax cuts. In his first 100 days, he released the outline of what would become the Tax Cuts and Jobs Act. It cut the corporate tax rate from 35% to 21% beginning in 2018. The top individual income tax rate drops to 37%. It doubles the standard deduction and eliminates personal exemptions. The corporate cuts are permanent, while the individual changes expire at the end of 2025.

[Jim in CT]

Pete i do care. i complained about debt under obama, and i complain under
trump. but is rather rack up debt by putting money directly in peoples
pockets, than by wasting money like
obama’s stimulus did. i don’t know anyone who benefitted from that 750 billion dollar waste. But Trump gets an F on debt.

Republicans are deeply hypocritical on the issue, they only complain about debt when a democrat is president.
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[Pete F.]

Sitting in the low chair again, I see.
Every penny Floridaman gave you, he borrowed against the future.
But you only worry about voodoo when it's Obama.
It started with Reagan and hasn't worked yet.
But perhaps another Clinton might have done as well as Bill did at cutting debt.

[Sea Dangles]

Yada much?
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[Pete F.]

Originally Posted by Sea Dangles

Yada much?
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Who did you pick in December of 2015, show us your amazing mental ability to foresee what would happen.

[Jim in CT]

Pete, a trillion dollars coming back home, is a good
thing. i’m really sorry to inform you that Trump is doing some good things.
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[Pete F.]

It certainly drove the market by funding buybacks, but that does little for future growth.
https://fred.stlouisfed.org/series/W790RC1Q027SBEA
And don't worry they have found new ways to hide the profits.
https://www.nytimes.com/2019/12/30/b...gtype=Homepage

[Jim in CT]

Pete, did it help spur investment, which creates jobs?

stock buybacks help the iras and 401ks of middle
class americans - true or false?
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[Pete F.]

Originally Posted by Jim in CT

Pete, did it help spur investment, which creates jobs?
short term effect, didn't last see graph
https://fred.stlouisfed.org/series/W790RC1Q027SBEA

stock buybacks help the iras and 401ks of middle
class americans - true or false?
Posted from my iPhone/Mobile device

True, if you only look at current cost and ignore the debt incurred to artificially drive growth.
America, unlike Floridaman is in this for the long haul.
And he is clueless about how to run a bureaucracy and so does nothing other than tweet, golf and spew lies.

[Jim in CT]

Pete, Obama and Trump each added trillions to the debt in at attempt to spur growth. (trump increased the take home pay of tens if
millions of Americans as he did so, Obama did not) Is there any evidence that suggests that growth was short lived? We’re still growing...
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[Pete F.]

Originally Posted by Jim in CT

Pete, Obama and Trump each added trillions to the debt in at attempt to spur growth. (trump increased the take home pay of tens if
millions of Americans as he did so, Obama did not) Is there any evidence that suggests that growth was short lived? We’re still growing...
Posted from my iPhone/Mobile device

Ahh, but Obama did increase wages and don't forget he started way in the hole.
Floridaman is in power at the end of the business cycle and historically wages have always risen then, though it still is minimal compared to the usual business cycle and is far from the best ever as Floridaman claims.
Floridaman was lucky enough to get on Obama's coattails, best coattails ever.

https://www.frbatlanta.org/chcs/wage-growth-tracker

Without fighting trade wars, kicking allies and kissing dictators we could have had wage and GDP growth over 5% like the usual business cycle.
But instead we have the Floridaman MEH and he has you convinced it's great because he says so.
The odds are pretty good it has already turned down.
You'll find out in 6 months.
What's Floridaman going to do then, print money?
See what that does for your savings.

[spence]

Don’t forget to adjust for inflation Pete.

I’d think if these tax cuts were so great Jim would have entitles the thread 10 great things.
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[Jim in CT]

Originally Posted by spence

Don’t forget to adjust for inflation Pete.

I’d think if these tax cuts were so great Jim would have entitles the thread 10 great things.
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$2,500 a year in my pocket. that’s not meaningless, madam.

and a trillion dollars back in our economy. Let’s ignore that. Because TDS.
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[Got Stripers]

Short term I’d agree Trump has put money in my retirement account, but the cost to future generations is going to be high. I’d have preferred to not sell my sole for an extra $2500 and the damage he is doing to the environment, to foreign policy, to ethics, to morals, to civility, those things that we would expect from our leader is hard to even measure.

Look at what he has done to the GOP, aside from one who has spoken out against Moscow Mitch’s comments, they are all prepared to take an oath to swear to be impartial jurors, while professing up front they will be anything but. Good Christian men like a Trump can swear to god and country to be impartial knowing they will not even bring documents or witnesses and even if they do, all will ignore the facts. It is a desperation to maintain the power in the senate, this is the old white old school guard worrying about the trend in politics and the move away from their party now stands for.