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Old December 2nd, 2017, 07:08 AM   #1
Representative
 
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From: Behind the 8 ball
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Tax Bill: Get Ready For An Awesome Economy!



"There may be disagreements on the numerical effects, but the principle has worked in the past (JFK and Reagan) and will work in the future.

A 20 percent corporate tax rate, immediate full expensing, repatriation of U.S. corporate cash overseas, and a 23 percent discount for sub-chapter S pass-throughs (much credit to Senator Ron Johnson for this) will generate way more growth and investment than mainstream forecasters suggest.

At various times, President Trump has talked about 3 percent, 4 percent, and even 5 percent growth. Despite the dreary mainstream models, I believe the president will turn out to be correct."

https://www.realclearpolitics.com/ar...ne_135673.html
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Old December 2nd, 2017, 07:31 AM   #2
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I'm looking forward to a 4.1% growth next year. With this tax cut/reform, if it passes, I am way more hopeful.
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Old December 2nd, 2017, 08:23 AM   #3
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Any Tax Code based on assumption of Corporate fairness or some imagined Trickle Down should not be used to formulate possible economics. History actually indicates a bull effect if anything.
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Old December 2nd, 2017, 08:50 AM   #4
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Quote:
Originally Posted by tecoyah View Post
Any Tax Code based on assumption of Corporate fairness or some imagined Trickle Down should not be used to formulate possible economics. History actually indicates a bull effect if anything.
Reagan would turn over in his grave if he knew someone who voted for him made the above comment!!!
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Old December 2nd, 2017, 09:14 AM   #5
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Quote:
Originally Posted by tecoyah View Post
Any Tax Code based on assumption of Corporate fairness or some imagined Trickle Down should not be used to formulate possible economics. History actually indicates a bull effect if anything.
I think you mean bear. In any case this will pull the rug out from under the economy. MASSIVE tax hikes on the middle class (which means no more middle class), tax hikes on the poor and essentially no taxes once you factor in existing loopholes for the wealthy. Cuts to medicare/aid, cuts to SS, effective cuts to the government in general due to the lack of taxes. It'll take a few years for the effects to hit us as there are SHORT TERM cuts to taxes for the middle class (so a Dem administration will be left holding the bag) but once this bill comes into full effect the economy will crash and burn. My guess is that the billionaires that wrote this (who have the money to weather any economic downturn) hope that when the economy crashes, compitition will dry up and workers will accept poverty wages over unemployment. It's a dangerous game becuase a revolution is as likely as not in that situation, the only reason America didn't go communist during the Great Depression was the New Deal.
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Old December 2nd, 2017, 09:22 AM   #6
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Quote:
Originally Posted by David View Post
I think you mean bear. In any case this will pull the rug out from under the economy. MASSIVE tax hikes on the middle class (which means no more middle class), tax hikes on the poor and essentially no taxes once you factor in existing loopholes for the wealthy. Cuts to medicare/aid, cuts to SS, effective cuts to the government in general due to the lack of taxes. It'll take a few years for the effects to hit us as there are SHORT TERM cuts to taxes for the middle class (so a Dem administration will be left holding the bag) but once this bill comes into full effect the economy will crash and burn. My guess is that the billionaires that wrote this (who have the money to weather any economic downturn) hope that when the economy crashes, compitition will dry up and workers will accept poverty wages over unemployment. It's a dangerous game becuase a revolution is as likely as not in that situation, the only reason America didn't go communist during the Great Depression was the New Deal.
Actually it should have read "Null Effect". The ONE part of our economy that DOES NOT need a break is corporate (perhaps the most wealthy as well) and this new plan will likely kill off the trend and upswing felt since the recovery began. Our middle class is already almost gone and you are correct that when these small tax breaks sunset it will probably disappear within a decade.
The genius of this plan for Republicans is twofold in that they indeed fulfil a promise to donors but also set the stage to blame whoever gets future power for the tax increase.
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Old December 4th, 2017, 05:40 AM   #7
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paul krugman predicted markets to crash once DJT was elected.

https://www.realclearpolitics.com/vi...out_trump.html

paul actually sounds a lot like people on this forum. watch the video to see what I mean.
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Old December 4th, 2017, 06:51 AM   #8
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Quote:
Originally Posted by arcturus88 View Post
paul krugman predicted markets to crash once DJT was elected.

https://www.realclearpolitics.com/vi...out_trump.html

paul actually sounds a lot like people on this forum. watch the video to see what I mean.
Oh, give it time. People were starting to give warnings about subprime mortgages in '07 and then the world crashed and burned in '08. The time before people paying attention realizing there's a problem and EVERYONE realizing there's a problem isn't 1:1.
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Old December 4th, 2017, 08:12 AM   #9
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Quote:
Originally Posted by arcturus88 View Post
paul krugman predicted markets to crash once DJT was elected.



paul actually sounds a lot like people on this forum. watch the video to see what I mean.
Just the polar opposite happened!!!

As Coolidge said, THE BUSINESS OF AMERICA IS BUSINESS. Since Trump is a businessman, he worked out to be well suited for the job!

Trump is along the lines of Harding & Coolidge.


Last edited by Ralph47; December 4th, 2017 at 09:08 AM.
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