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| Topic: THE TRUMP TAX CUT. WHO BENEFITED? | |
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When it comes to tax changes, especially cuts, there are short term and long term results. IN the short term, the latest cuts went straight into the pockets of the corporations and their power brokers. Whether the promised eventual results, of prosperity, and rapid growth which results in sustained economic stability, and a return to a higher standard of living for the American middle and lower classes ever occurs, who knows. I see no sign of that so far. Wages have finally inched up slightly, only AFTER the unemployment rate finally reached the point where employers are being violently (economically speaking) forced to raise SOME wages in SOME sectors, but the bulk of the tax cuts have been plowed into the usual areas that tax cuts for the investor classes always are: playing games with the stock market. American industrial jobs are STILL going overseas at the same rate as before. International trade is a confused mess right now, due to the simultaneous decision to wage a tariff war, and to overturn all previous trade agreements. And of course, since the Republicans dropped their previous pretense of having to balance the budget, the deficits and budget shortfalls are increasing by trillions, faster than ever before. Will that do as so many Republicans USED TO claim, and ultimately bring everything crashing down? I have no idea. |
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Edited by
Charles1962150
on
Sun 09/09/18 05:09 PM
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When it comes to tax changes, especially cuts, there are short term and long term results. IN the short term, the latest cuts went straight into the pockets of the corporations and their power brokers. Whether the promised eventual results, of prosperity, and rapid growth which results in sustained economic stability, and a return to a higher standard of living for the American middle and lower classes ever occurs, who knows. I see no sign of that so far. Wages have finally inched up slightly, only AFTER the unemployment rate finally reached the point where employers are being violently (economically speaking) forced to raise SOME wages in SOME sectors, but the bulk of the tax cuts have been plowed into the usual areas that tax cuts for the investor classes always are: playing games with the stock market. American industrial jobs are STILL going overseas at the same rate as before. International trade is a confused mess right now, due to the simultaneous decision to wage a tariff war, and to overturn all previous trade agreements. And of course, since the Republicans dropped their previous pretense of having to balance the budget, the deficits and budget shortfalls are increasing by trillions, faster than ever before. Will that do as so many Republicans USED TO claim, and ultimately bring everything crashing down? I have no idea. With the research I've done, I'd say you pretty much hit the nail on the head. The Good, The Bad And The Ugly Of The Tax Cuts And Jobs Act https://www.forbes.com/sites/jimblasingame/2017/12/29/the-good-the-bad-and-the-ugly-of-the-tax-cuts-and-jobs-act/#5be4516e6cf9 |
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there's more to economics than just wages... If a company like Wal Mart goes under, how many Americans are out of work? Like I said, I don't know if he's right or wrong, when I know, I'll let you know... If Boeing goes down, the city of Seattle turns into Detroit after the auto manufacturers left...there's plenty of reasons to help the people without making their companies raise their wages... "So greedy ceo's and board members are Trump's fault... 9 tax reductions and it didn't make it to the employees...tell me again who's fault this is?" I responded.  "tell me again who's fault this is?" Well, a poorly thought-out fiscal plan, such as a tax cut, which was put out so that the guy could simply put his name on a tax cut, and one which benefitted HIM more that the middle class, I think that would be: Trump's fault |
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charts? what charts? I saw interviews with CEO's...I think it was 20/20 or 48 hours where they had like 10 people comment on something in the news and in this case it was CEO's in the chairs commenting on what they would do. None of them would use the money for their employees for wages. This isnt what I saw but it sure is compelling and it was before the bill went thru. http://www.cnbc.com/2017/11/15/gary-cohn-looks-for-assurances-from-ceos-on-tax-plan-gets-crickets.html did you use the link? if not, it was Trump's chief economic adviser Gary Cohn at a at a gathering of CEO's hosted by the Wall Street Journal prior to the tax cut being voted on. Prior. If you look at Cohn's body language simply as the host asked the question, he is, to me, visibly uncomfortable, as if he already knows the answer the crowd of CEO's will give. At any rate, the behavior planned by CEO's was available. Well, Walmart is probably not going to go OUT, but with the tariffs being raised on Chinese crap, and Walmart being a leading merchandiser of Chinese crap, as the prices go up at Walmart, that could lead to less profits, and layoffs at Walmart. If Boeing can't get their components from China cheaply enough (I believe Boeing wings are manufactured there, and flown to SeaTac in the world's largest cargo plane), their planes cost more in comparison to Airbus, which causes contracts to go to France instead of Seattle. Remember that it is tough to find anything made of metal in this country that is not made in China Of course, the tax cut was paid for by adding on to the deficit, which puts us more in debt with the Chinese we are fighting over tariffs with. Of course, we used to hear about the deficit all the time, when a Dem was growing it. Under this administration, we don't hear about it at all. Yes, there is a LOT more to economics than wages. And just screwing around with tax breaks to the "greedy CEOs" and other people just like Trump himself, he is playing fast and loose with a good economy he inherited from the last administration. |
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there's more to economics than just wages... If a company like Wal Mart goes under, how many Americans are out of work? Like I said, I don't know if he's right or wrong, when I know, I'll let you know... If Boeing goes down, the city of Seattle turns into Detroit after the auto manufacturers left...there's plenty of reasons to help the people without making their companies raise their wages... "So greedy ceo's and board members are Trump's fault... 9 tax reductions and it didn't make it to the employees...tell me again who's fault this is?" I responded. "tell me again who's fault this is?" Well, a poorly thought-out fiscal plan, such as a tax cut, which was put out so that the guy could simply put his name on a tax cut, and one which benefitted HIM more that the middle class, I think that would be: Trump's fault The middle class is shrinking. The upper middle class is growing. On the way home from work, I saw that another company has posted hiring signs in town. Competition will drive up wages. My son had someone call in to work before he even left the house. It's nice to see companies trying to keep good employees. Under obama, companies didn't care. People didn't have many choices. |
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Edited by
Charles1962150
on
Tue 09/11/18 01:28 AM
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Could Trump tax cut save up to $44,697 per family?
Another half-truth. http://www.politifact.com/truth-o-meter/statements/2018/jul/26/kevin-mccarthy/could-trump-tax-cut-save-44697-family/ Clemente: Corporate tax cuts not trickling down to workers http://www.thespectrum.com/story/opinion/mesquite/2018/05/27/workers-arent-reaping-benefits-trumps-tax-cuts/648933002/ |
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Taxpayers thousands are going to approx. ,1/4 of Chicago's population alone in Illinois . I am sure other states have a similar situation
Any tax cut for mid class family is better than Nothing. Democrats in charge, spend, spend , give out free government funds. Who wants more of that. No idea how to grow economy or create jobs. |
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Here's how the Trump tax plan would raise taxes on many middle-income families
"Asked Thursday whether the Republican tax plan would cut taxes on the wealthy, top White House economic adviser Gary Cohn said he didn't think Americans would care what happened to other people's taxes — they would care about getting a tax cut for themselves". http://www.businessinsider.com/trump-tax-plan-raise-taxes-middle-income-families-2017-9 The Trump tax cut was for the upper 1%. If you think that because of that cut for the one percent also means you, you're a fool. Because somewhere that money has to be made up. In other words, You, out of your pocket. My pocket and everyone else pocket. Mine has already gone up another 2 grand since the tax cut. . |
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My taxes have gone up too. The more I work, the more taxes I pay. Wasn't that Trump's plan?
 We had a meeting 15 before work ended. Tomorrow I'm working 3:30am till 4pm.
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It was. Consider this. Those who are griping, are the ones that lost deductions. They also don't give a hoot about people who are out of work. They're working. You're not. Well boohoo, it s#cks to be you.
When it hits them, you should feel sorry for them. So, turn about is fair play. You got hit. waah. I'm not going to cry a river for you. Suck it up buttercup. Dems used to proclaim that taxing the rich more was going to help them. What I ever saw in that was that they were out to hit small business. I'll decide, when I see the forms sitting in front of me and not before. Some years back, before obama got into office, was a deduction for people who work. When I found it, it cut my tax burden in half. I was blown away. Not wanting to get hooked by the Irs, I dug up a tax attorney, and scheduled an appointment. This was supposed to cost me $150,just to talk to him about this. Two minutes into our conversation, he broke out laughing at me, told me I HAD read it right, and chased me out of his office-and not charged me for the visit. I enjoyed that deduction for three years, and then got mad at obama for taking it away. From then on, I hated obama with a passion. I still do. |
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After work I have a meeting with property tax assessors. I'm still dealing with my appeal. I can only imagine what corporations (owners) pay in property tax. Business, home, boat, etc. Tax cuts are a good thing. My day will be tough but this is how I pulled myself up out of poverty years ago. Others can do the same thing.
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Edited by
Toodygirl5
on
Thu 09/20/18 06:46 AM
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I noticed several people who don't work but get tax refunds.
 They get link cards and stay home all day watching TV . Most have cable or dish. Most have cars and do activities outside of home. Children get free lunches in school . This kind of stuff needs to Stop. Kids run streets after school til dark in some areas. These Lazy people lack for nothing except dignity and self respect. They take from those who WORK. Democrats want to give money to everyone, even illegals flocking into this Country. How stupid is that. A Conservative needs to stay in Office , as POTUS. Maybe this Country will Not be Over taken by Socialism. |
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This is pretty close to a repeat of "Reaganomics".
The numbers are in, and Trump's tax cut didn't reduce the deficit – despite his many promises. "On the campaign trail, Trump first proposed a $10 trillion tax cut, far larger than any Republican rival's, but insisted it wouldn't boost the federal budget deficit because the economy would "take off like a rocket ship." Though Trump sharply pared back this proposal, he continued to maintain the deficit wouldn't rise. That claim was politically important for congressional Republicans who used it to convince holdout lawmakers to vote yes. But even as growth has accelerated, the Treasury reported that the 2018 deficit swelled to $779 billion. That level, the highest in six years, marks a 17 percent increase over 2017". "Presidents often make extravagant claims for their policies. But rarely have they proven so false so fast as Donald Trump's claims about tax cuts and deficits". http://www.cnbc.com/2018/10/16/trumps-tax-cut-didnt-reduce-the-deficit--despite-his-many-promises.html |
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Edited by
Toodygirl5
on
Thu 10/18/18 07:03 AM
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Trump's administration has done more for this Country in a few months, than the last administration done in 8 years
Hopefully another conservative gets in office as POTUS. 2020 Stop all the Leftist idiotic tactics to derail this Country to Socialism. The US needs someone who will put American citizens first . |
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Edited by
Charles1962150
on
Thu 10/18/18 07:11 PM
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Republicans Ignore the Obvious Effect of Their Tax Cuts
"President Trump, top administration officials, and Republican congressional leaders claim that the rising deficit, which grew 17 percent to $779 billion in fiscal 2018, is not the result of their tax cuts. They’ve acknowledged that they prioritized increased defense spending and said that they would tackle the deficit by targeting spending going forward. But they’ve ignored the effect of the tax cuts — and some other deficit-financed policies — while seeking to lay the blame for rising deficits on everything from natural disasters to Democratic spending priorities to social safety net programs. To wit:". http://www.msn.com/en-us/news/politics/republicans-ignore-the-obvious-effect-of-their-tax-cuts/ar-BBOwKDE Mitch McConnell blames the soaring deficit on Medicare and Social Security, not the GOP tax cuts "Senate Majority Leader Mitch McConnell's (R-Ky.) "single biggest regret of my time in Congress," he told Bloomberg News on Tuesday, is "our failure to address the entitlement issue." McConnell said that the mushrooming federal deficit, which the Treasury Department just said grew to $779 billion last fiscal year — 77 percent higher than when McConnell became majority leader in 2015 — is "very disturbing," but color=red]he blamed Medicare and Social Security spending, not the $1.5 trillion tax cut he steered through last year". http://theweek.com/speedreads/802343/mitch-mcconnell-blames-soaring-deficit-medicare-social-security-not-gop-tax-cuts I've never really cared who was president. Democrat, Republican. Matters none to me. But, I have to say for us folks that are getting older and have paid into the system for years so that one day we would have Social Security to back us up, We better hope that the Democrats take at least the house. Because, if they don't, eventually they (Republicans) will try to get there way. You better have a family that will give you a place to live and food in your stomach. And pay your doctor bills for you. Because, if you don't, The Republicans or someone like Paul Ryan will leave you sick and living in a ditch. Republicans have for a long time been wanting to do away with Social Security, Medicaid & Medicare. If it wasn't for Franklin D. Roosevelt, A Democrat, there would be no Social Security. Even in those days, if it had been left up to the Republicans, people would have been left sick and living in a ditch or worse, Dead from starvation or lack of medical care. |
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How Democrats hope to obtain Trump's tax returns
"WASHINGTON (Reuters) - The U.S. Congress could request President Donald Trump's tax returns under a seldom-used 1924 law, which Democrats say they plan to invoke promptly if they win control of the House of Representatives or the Senate in the Nov. 6 elections". http://www.reuters.com/article/us-usa-congress-trump-taxreturns/how-democrats-hope-to-obtain-trumps-tax-returns-idUSKCN1MS1FT |
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More quotes and articles from liberal media. You keep hunting up this junk, then throw it out here like it's the gospel truth. We know the MSM is being water carriers for the dems coming into the elections.
I desperately hope that dems flop bigtime. That way, we can sit back and let you gripe and complain about it. I know you'll never stop, you'll just gripe more. |
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Republicans Ignore the Obvious Effect of Their Tax Cuts "President Trump, top administration officials, and Republican congressional leaders claim that the rising deficit, which grew 17 percent to $779 billion in fiscal 2018, is not the result of their tax cuts. They’ve acknowledged that they prioritized increased defense spending and said that they would tackle the deficit by targeting spending going forward. But they’ve ignored the effect of the tax cuts — and some other deficit-financed policies — while seeking to lay the blame for rising deficits on everything from natural disasters to Democratic spending priorities to social safety net programs. To wit:". http://www.msn.com/en-us/news/politics/republicans-ignore-the-obvious-effect-of-their-tax-cuts/ar-BBOwKDE Mitch McConnell blames the soaring deficit on Medicare and Social Security, not the GOP tax cuts "Senate Majority Leader Mitch McConnell's (R-Ky.) "single biggest regret of my time in Congress," he told Bloomberg News on Tuesday, is "our failure to address the entitlement issue." McConnell said that the mushrooming federal deficit, which the Treasury Department just said grew to $779 billion last fiscal year — 77 percent higher than when McConnell became majority leader in 2015 — is "very disturbing," but color=red]he blamed Medicare and Social Security spending, not the $1.5 trillion tax cut he steered through last year". http://theweek.com/speedreads/802343/mitch-mcconnell-blames-soaring-deficit-medicare-social-security-not-gop-tax-cuts I've never really cared who was president. Democrat, Republican. Matters none to me. But, I have to say for us folks that are getting older and have paid into the system for years so that one day we would have Social Security to back us up, We better hope that the Democrats take at least the house. Because, if they don't, eventually they (Republicans) will try to get there way. You better have a family that will give you a place to live and food in your stomach. And pay your doctor bills for you. Because, if you don't, The Republicans or someone like Paul Ryan will leave you sick and living in a ditch. Republicans have for a long time been wanting to do away with Social Security, Medicaid & Medicare. If it wasn't for Franklin D. Roosevelt, A Democrat, there would be no Social Security. Even in those days, if it had been left up to the Republicans, people would have been left sick and living in a ditch or worse, Dead from starvation or lack of medical care. Mitch McConnell Makes a Compelling Argument for Voting Every Republican Out of Office "As the 2018 midterm elections draw nearer, and as reports suggest that the Republican Party's monopoly on power in Washington could be in jeopardy, Senate majority leader Mitch McConnell sat for a series of interviews this week in which he promised Americans that if they give his party another two years of unified government, he'll try once more to do all of the things that made them hate him so much in the first place". http://www.gq.com/story/mitch-mcconnell-obamacare-repeal-again |
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Edited by
tombraider
on
Fri 10/19/18 04:30 AM
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So they feed us this BS that the budget deficit is due to medicare spending and social security instead of placing the blame where it really belongs..on the backs of bad trade deals false narrative wars and handing our money out to other countries and supporting illegals..not to mention all that has been stolen by government officials..Give me a Break..there really is no debate here unless we are willing to believe the lies again...  I will say this ..You can give tax cuts in hopes that it will eventually benefit the workers..but what the companies do with that money is not up to Trump... |
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Baby boomers are retiring and a large number of people will be on social security and Medicare plus Medicaid. We need more young people working.
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