Tiberius Posted October 24, 2017 Author Share Posted October 24, 2017 no, I certainly never said that. Taxes are necessary to transfer resource claims from private sector to public. The government can't spend $3 trillion without reducing private claims, otherwise it's inflationary. Excess spending over taxes is a different story. You don't seem to understand the "Chinese thing." We don't borrow from china, rather, they choose to buy US securities to prevent the yuan from appreciating against the $ to protect their largest export market. I do agree with you statement about the GOP. It's a really bad plan, especially at this stage of the business cycle. Is the stock market due for a correction soon? 1987--2000---2007--? Link to comment Share on other sites More sharing options...
Deranged Rhino Posted October 24, 2017 Share Posted October 24, 2017 Ummm....I was the guy supplying the links, the proof and the smack down. It is part of Federal Government False. You provided links after the fact - and they all agreed that your understanding of the federal reserve was incorrect. Instead of admitting this and learning something, you doubled down on asshattery. Which is one of the many reasons no one takes you seriously. You're a blind partisan hack who tries to troll righties but ends up making himself look all the more foolish. Which is sad. Not quite as sad as your current love affair for all things neocon - but still sad to see a "liberal" who has no understanding what true liberalism actually means. Link to comment Share on other sites More sharing options...
Doc Brown Posted October 24, 2017 Share Posted October 24, 2017 Trump's narcissistic populism does not equate to a consistent pro-business mindset. Both Bushes, Reagan, even JFK had more clarity regarding private capital formation. Trump's pro-business credentials are a twitter mirage He's been all bark with no bite up to this point and with Bannon out it seems likely the tax plan will be similar to Bush's. You've got Steve Mnuchin (17 years at Goldman Sachs) and Nick Mulvaney (Harvard business school, lawyer, restaurant shareholder) running the show. Link to comment Share on other sites More sharing options...
Tiberius Posted October 24, 2017 Author Share Posted October 24, 2017 False. You provided links after the fact - and they all agreed that your understanding of the federal reserve was incorrect. Instead of admitting this and learning something, you doubled down on asshattery. Which is one of the many reasons no one takes you seriously. You're a blind partisan hack who tries to troll righties but ends up making himself look all the more foolish. Which is sad. Not quite as sad as your current love affair for all things neocon - but still sad to see a "liberal" who has no understanding what true liberalism actually means. Lol, whatever. But since you brought it up, WTF is a neocon? Can you define it for us? Link to comment Share on other sites More sharing options...
Deranged Rhino Posted October 24, 2017 Share Posted October 24, 2017 The issue is I can define it which is why your sudden embrace of the neocon agenda is so hilariously unprincipled to me. You clearly cannot define it since you spent 8 years of Bush and Obama wailing against the neocon policies and agendas which drove us into a series of endless wars paid for on a credit card and are now happily parroting the likes of Frum and Kyrstol - the men who led the propaganda brigade for those policies - on the issue of Russia without a hint of irony because they're now "on your team's side." They're really not. Thinking there are truly sides in this equation is part of your downfall. You stand for nothing, thus, you fall for everything. That makes you an unprincipled asshat who gets his jollies thinking he's trolling right wing folks when all he's really doing is exposing his own idiocy. You're not a liberal, you're certainly not a progressive. You're an unthinking fascist who lacks a fully functioning frontal lobe Link to comment Share on other sites More sharing options...
Tiberius Posted October 24, 2017 Author Share Posted October 24, 2017 The issue is I can define it which is why your sudden embrace of the neocon agenda is so hilariously unprincipled to me. You clearly cannot define it since you spent 8 years of Bush and Obama wailing against the neocon policies and agendas which drove us into a series of endless wars paid for on a credit card and are now happily parroting the likes of Frum and Kyrstol - the men who led the propaganda brigade for those policies - on the issue of Russia without a hint of irony because they're now "on your team's side." They're really not. Thinking there are truly sides in this equation is part of your downfall. You stand for nothing, thus, you fall for everything. That makes you an unprincipled asshat who gets his jollies thinking he's trolling right wing folks when all he's really doing is exposing his own idiocy. You're not a liberal, you're certainly not a progressive. You're an unthinking fascist who lacks a fully functioning frontal lobe So because I'm not an isolationist? You really don't make much sense Link to comment Share on other sites More sharing options...
DC Tom Posted October 24, 2017 Share Posted October 24, 2017 You're not a liberal, you're certainly not a progressive. You're an unthinking fascist who lacks a fully functioning frontal lobe Thus, why I wrote a bot to deal with his ****. Link to comment Share on other sites More sharing options...
Tiberius Posted October 27, 2017 Author Share Posted October 27, 2017 Economy boomed at 3% Why again do we need tax cuts? https://www.bloomberg.com/news/articles/2017-10-27/u-s-growth-at-above-forecast-3-on-consumer-business-spending Link to comment Share on other sites More sharing options...
Doc Brown Posted October 27, 2017 Share Posted October 27, 2017 Economy boomed at 3% Why again do we need tax cuts? https://www.bloomberg.com/news/articles/2017-10-27/u-s-growth-at-above-forecast-3-on-consumer-business-spending Apparently I may be paying more depending on what the final bill turns out to be. WTF Republicans. I'm against lowering taxes because I'm more than willing to not get to pay my fair share if it means keeping federal funding for social entitlement programs I've seen help so many people, but if you're going to lower taxes at least make sure you include everyone. Link to comment Share on other sites More sharing options...
Tiberius Posted October 27, 2017 Author Share Posted October 27, 2017 Apparently I may be paying more depending on what the final bill turns out to be. WTF Republicans. I'm against lowering taxes because I'm more than willing to not get to pay my fair share if it means keeping federal funding for social entitlement programs I've seen help so many people, but if you're going to lower taxes at least make sure you include everyone. And lowering taxes and the deficits they will increase will be used as an excuse to say Medicare needs to get axed. My Congressman is already making the argument it's backrupt. Link to comment Share on other sites More sharing options...
Azalin Posted October 28, 2017 Share Posted October 28, 2017 ...but if you're going to lower taxes at least make sure you include everyone. As far as I've seen, Trump's proposed tax reduction lowers income taxes for everyone that pays them. Link to comment Share on other sites More sharing options...
keepthefaith Posted October 28, 2017 Share Posted October 28, 2017 And lowering taxes and the deficits they will increase will be used as an excuse to say Medicare needs to get axed. My Congressman is already making the argument it's backrupt. Deficits and debt are certainly a concern but if these cuts go through we're gonna see a real life Laffer curve experiment before our eyes. Care to wager if tax receipts increase in the years following the cuts? Link to comment Share on other sites More sharing options...
ALF Posted October 29, 2017 Share Posted October 29, 2017 (edited) The details of the Republican tax plan will be unveiled on Wednesday (Nov 1) "There’s only (been) discussion about cutting rates...that’s the sugar part of the bill," Sen. Bob Corker, R-Tenn., told reporters in the Capitol this week. "The spinach part is what's coming up next." https://www.nbcnews.com/politics/congress/five-issues-could-sink-trump-gop-tax-plan-n815126 Edited October 29, 2017 by ALF Link to comment Share on other sites More sharing options...
Magox Posted October 29, 2017 Share Posted October 29, 2017 This is old (late August) but Ann Coulter isn't too keen on Trump and the GOP focusing on tax reform. This was kind of humorous. She really wants that wall. https://www.mediaite.com/online/ann-coulter-eviscerates-trumps-tax-reform-address-in-tweetstorm-worst-most-tone-deaf-speech/ Is she right? Ann is the worst. Link to comment Share on other sites More sharing options...
Doc Brown Posted October 29, 2017 Share Posted October 29, 2017 (edited) As far as I've seen, Trump's proposed tax reduction lowers income taxes for everyone that pays them. There's talk that the new tax plan would remove state and local income taxes and property taxes as reductions on federal returns which would hurt states like NY the most. Edited October 29, 2017 by Doc Brown Link to comment Share on other sites More sharing options...
grinreaper Posted October 29, 2017 Share Posted October 29, 2017 There's talk that the new tax plan would remove state and local income taxes and property taxes as reductions on federal returns which would hurt states like NY the most. Is that because NY has some of the highest taxes or that residents will refuse to pay them? Link to comment Share on other sites More sharing options...
/dev/null Posted October 29, 2017 Share Posted October 29, 2017 There's talk that the new tax plan would remove state and local income taxes and property taxes as reductions on federal returns which would hurt states like NY the most. There's also talk that it will remain but capped Link to comment Share on other sites More sharing options...
Doc Brown Posted October 29, 2017 Share Posted October 29, 2017 (edited) Is that because NY has some of the highest taxes or that residents will refuse to pay them? High taxes. There's also talk that it will remain but capped That's my guess of what will happen as even Peter King has raised concerns about it. Here's another NY House Republican criticizing the GOP Tax plan. http://thehill.com/policy/finance/357713-new-york-republican-slams-gop-tax-plan Rep. Dan Donovan (R-N.Y.) in an interview on Sunday slammed his party’s tax reform plan, saying residents in his state could lose their homes. "What they're proposing, John, is to eliminate a deduction from your federal tax return that's very important to every New Yorker.… to deduct your state and local income tax and your property taxes,” Donovan said in an interview with John Catsimatidis on AM 970 in New York. “That's essential for hard-working New Yorkers,” he added. “It's been in the tax code since 1913.” Donovan said eliminating the deduction would mean that people in New York “couldn’t buy homes anymore, couldn’t pay their mortgages, couldn't pay their children's tuitions.”Lawmakers have argued that the GOP proposal would hit high-tax states like New York, New Jersey and California especially hard. Donovan said on Sunday that he and fellow New York lawmakers such as Rep. Pete King ® are fighting “tooth and nail” to save the deduction. “There are some people in Washington who believe this is a subsidy for New York, “ he said “That's not true… New York is a donor state. For every dollar New York sends down to Washington we only get 79 cents back in federal resources.” Donovan said he can’t support tax reform for the rest on the country “on the backs of my neighbors and friends.” “I will go down to Washington… to make sure we get the fair share and the deductions we're entitled to," he added. Donovan and 19 other House Republicans voted against the budget, which clears the way for the House to begin work on passing tax reform legislation by a simple majority. GOP leaders have laid out a goal of passing the tax code overhaul by Thanksgiving. Edited October 30, 2017 by Doc Brown Link to comment Share on other sites More sharing options...
Tiberius Posted November 1, 2017 Author Share Posted November 1, 2017 Delayed....again Link to comment Share on other sites More sharing options...
Tiberius Posted November 2, 2017 Author Share Posted November 2, 2017 (edited) Deficits and debt are certainly a concern but if these cuts go through we're gonna see a real life Laffer curve experiment before our eyes. Care to wager if tax receipts increase in the years following the cuts? They almost always go up. Tax cut, tax increase, receipts almost always increase unless there is a recession. Right wing propgadanists try and spin that fact as if the tax cuts made that happen. Many fall for that one Edited November 2, 2017 by Tiberius Link to comment Share on other sites More sharing options...
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