Why are liberals mad about the tax plan???

[TPS]

6 minutes ago, GG said:

 

Why is it an economic benefit when the government redistributes income to less productive members of society, but it's bad when it redistributes income to military personnel?

I can always count on you to distort what I said. The current regime has announced higher spending for military, mostly weapons not personnel, and tax cuts, creating an expected deficit of over $1 trillion in 2019. As I said, trillion $ deficits when we are near full employment will create inflationary pressures to which the Fed will react.  I can't wait to see how you twist those words...

[westerndecline]

Dems had their chance but" u blew it"

 

 

4 minutes ago, TPS said:

I can always count on you to distort what I said. The current regime has announced higher spending for military, mostly weapons not personnel, and tax cuts, creating an expected deficit of over $1 trillion in 2019. As I said, trillion $ deficits when we are near full employment will create inflationary pressures to which the Fed will react.  I can't wait to see how you twist those words...

Not if we have 5-8% growth...

Not if repubs pass entitlement reform

Edited December 20, 2017 by westerndecline

[TPS]

2 minutes ago, westerndecline said:

Dems had their chance but" u blew it"

 

 

Not if we have 5-8% growth...

Not if repubs pass entitlement reform

Yes, little fairies will spread gold dust on the economy and cause economic growth to exceed 50 years of history...

As Magox said, the deficit will be expansionary in the short term, and we may even experience 3-4% growth for a year, but then tight labor markets will kick in. There is currently some slack to allow for a short burst, but by 2019 the Fed will be forced to restrain inflationary pressures.

[Tiberius]

And economic growth will encourage immigration, same with tight labor markets. 

[westerndecline]

6 minutes ago, TPS said:

Yes, little fairies will spread gold dust on the economy and cause economic growth to exceed 50 years of history...

As Magox said, the deficit will be expansionary in the short term, and we may even experience 3-4% growth for a year, but then tight labor markets will kick in. There is currently some slack to allow for a short burst, but by 2019 the Fed will be forced to restrain inflationary pressures.

Lets assume u r correct

 

Why didnt ur party do anything lol

 

08-10

 

 

[TPS]

1 minute ago, westerndecline said:

Lets assume u r correct

 

Why didnt ur party do anything lol

 

08-10

 

 

First, it's not my party, as I'm an independent. Second, "didn't do anything"about what?

[Dorkington]

I'll likely be donating my tax savings to charities that I think the federal government should be making unnecessary. 

 

If the tax plan results in the lower and middle classes having significantly more spending power, then I'm all for it. But if their spending power continues to stagnate, while the rich get richer, then I'll end up being against it. 

[Magox]

24 minutes ago, TPS said:

Was it that confusing? Deficits matter less when unemployment is high, and in fact are usually high because of high unemployment. When you change tax policy to increase the deficit when we are near what many considered full employment, it will stoke inflationary pressure.  I don't care who is president when these things happen.

 

So your argument is that it will create too much growth and that it will create inflationary pressures causing the fed's to increase rates which will then lead to an economic downturn.

 

That could end up happening, and if that did happen they would lower interest rates, the economy would bounce back and it would happen from an even higher baseline with an economy that is better positioned to grow quickly because of this administration's stance on regulations and taxation which of course are pro growth.

[TH3]

10 minutes ago, westerndecline said:

Lets assume u r correct

 

Why didnt ur party do anything lol

 

08-10

 

 

 

You seem to use "lol" quite frequently....how old are you?

[westerndecline]

9 minutes ago, TPS said:

First, it's not my party, as I'm an independent. Second, "didn't do anything"about what?

Read the op

[TPS]

1 minute ago, Magox said:

 

So your argument is that it will create too much growth and that it will create inflationary pressures causing the fed's to increase rates which will then lead to an economic downturn.

 

That could end up happening, and if that did happen they would lower interest rates, the economy would bounce back and it would happen from an even higher baseline with an economy that is better positioned to grow quickly because of this administration's stance on regulations and taxation which of course are pro growth.

Deficits are always expansionary, and their impact on inflation depends on where we are in the cycle; we're currently near the top of the expansion, so we're adding fuel to the fire.

As you know, the Fed started its rate-rising cycle a year ago, so the expansionary deficits will support their increases, and most likely accelerate them.

 

The problem for Trump is that this will most likely play out when he's up for re-election. Reagan and Bush2 enacted their policies when unemployment was rising and early in their first terms. The timing won't help Trump out.

[westerndecline]

1 minute ago, baskin said:

 

You seem to use "lol" quite frequently....how old are you?

12

9 minutes ago, Magox said:

 

So your argument is that it will create too much growth and that it will create inflationary pressures causing the fed's to increase rates which will then lead to an economic downturn.

 

That could end up happening, and if that did happen they would lower interest rates, the economy would bounce back and it would happen from an even higher baseline with an economy that is better positioned to grow quickly because of this administration's stance on regulations and taxation which of course are pro growth.

U keep forgetting dems think supply side is fairy dust

[TPS]

2 minutes ago, westerndecline said:

Read the op

As I said in my first post, you are talking about the Wall Street wing of the DNC, not the liberal wing.  The former have no interest in the working class because they didn't think they could raise significant funds from them.

[westerndecline]

1 minute ago, TPS said:

As I said in my first post, you are talking about the Wall Street wing of the DNC, not the liberal wing.  The former have no interest in the working class because they didn't think they could raise significant funds from them.

At least ur honest....

 

Seems like dems need to worry about their own party

 

 

[Taro T]

1 hour ago, Dorkington said:

I'll likely be donating my tax savings to charities that I think the federal government should be making unnecessary.

 

If the tax plan results in the lower and middle classes having significantly more spending power, then I'm all for it. But if their spending power continues to stagnate, while the rich get richer, then I'll end up being against it. 

 

Why should the federal government make charities unneccessary?

[westerndecline]

 

[Doc Brown]

Here's what I

1 hour ago, westerndecline said:

U keep forgetting dems think supply side is fairy dust

That is the argument.  The fear is that CEO's just pocket the corporate tax money they save with the reduced rate and/or spend it on automation.  They'll point to what happened in Kansas in 2012 when the GOP governor and legislature with the urging of Art Laffer (the Laffer curve) slashed state income taxes and eliminated taxes on most businesses expecting it to jump start the economy.  It didn't and job creation lagged behind most neighboring states and the US average.  They had to raise taxes again this year and Kansas's governors approval rating is in the 20's.  I think it's unfair to point to one state as I'm sure there's many other factors to explain Kansas's economic struggles, but it doesn't exactly instill confidence.

[Nanker]

Can’t wait to get fatter dividend checks beginning next year. That, and with corporations buying back their stock it will make my securities more valuable. AND paying less in taxes will be gravy... pure gravy. 

 

Glad this will be the last time I have to pay any ObamaCare and Alternative Minimum Taxes. 

[Pine Barrens Mafia]

 

You know, this guy may be a whiny loon, but he's pretty much right on here.

 

[Magox]

40 minutes ago, Doc Brown said:

Here's what I

That is the argument.  The fear is that CEO's just pocket the corporate tax money they save with the reduced rate and/or spend it on automation.  They'll point to what happened in Kansas in 2012 when the GOP governor and legislature with the urging of Art Laffer (the Laffer curve) slashed state income taxes and eliminated taxes on most businesses expecting it to jump start the economy.  It didn't and job creation lagged behind most neighboring states and the US average.  They had to raise taxes again this year and Kansas's governors approval rating is in the 20's.  I think it's unfair to point to one state as I'm sure there's many other factors to explain Kansas's economic struggles, but it doesn't exactly instill confidence.

 

Without doubt there will be some money that will create jobs and go to employees, the question is how much.

 

Having said that, this is a good START.

Quote

 

The telecom giant said in a press release Wednesday that it would give more than 200,000 U.S. union members a special bonus of $1,000. The company also increased its capital expenditures budget by $1 billion in the U.S.

"Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world," CEO Randall Stephenson said in a statement. "This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees."

 

AT&T had previously said that it would invest $1 billion in the U.S. if "competitive" tax reform legislation was passed, and has said that the tax reform framework could increase demand for AT&T's services. The new tax law will drop the corporate tax rate to 21 percent from the current 35 percent and includes other measures that Republicans say will spur businesses to invest domestically.