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Thread: Impressed by Trump administration

  1. #2601
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    Quote Originally Posted by QuakerOats View Post
    It is the incremental growth you gain by tax rate reductions spurring the economy which creates additional revenues, not to mention employing several million more people than otherwise and the taxes they will pay. The increases will be substantial. They should also have cut the capital gains tax, or eliminated it, if they are serious about investment and growth.
    They have ways of estimating growth attributable to tax cuts. They almost never "pay for themselves", and some of those revenue increases are illusory because wealthy people sit on long-term gains waiting to take advantage of lower rates. That's why the scoring on cuts/increases almost always is more unfavorable than how reality plays out.

    Revenues are generally pretty stable as a % of GDP....that's why it tends to be primarily a political, rather than economic, debate. But I'm cutting corporate rates is pretty significant, and needed to be done. I just hope we don't lose state/property tax deductions to pay for increasing the estate tax exclusion.

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    Brudda o da bomber Devils Advocate's Avatar
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    Saint Ronalds's tax cuts really helped with the natonal debt. It rose by 186%.
    The walls of hospitals have heard more sincere prayers than the walls of churches

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    Quote Originally Posted by Devils Advocate View Post
    Saint Ronalds's tax cuts really helped with the natonal debt. It rose by 186%.

    His tax cuts had absolutely nothing to do with the growth of the debt. It was massive spending increases by congress that grew the debt, after Tip O'neill and his democrats in congress reneged on their agreement with Reagan to control their spending. Sad, especially since the tax cuts increased revenue to the Treasury by nearly 100% in just 8 years.

    Please get the facts straight.

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    Quote Originally Posted by gut View Post
    They have ways of estimating growth attributable to tax cuts. They almost never "pay for themselves", and some of those revenue increases are illusory because wealthy people sit on long-term gains waiting to take advantage of lower rates. That's why the scoring on cuts/increases almost always is more unfavorable than how reality plays out.

    Revenues are generally pretty stable as a % of GDP....that's why it tends to be primarily a political, rather than economic, debate. But I'm cutting corporate rates is pretty significant, and needed to be done. I just hope we don't lose state/property tax deductions to pay for increasing the estate tax exclusion.


    The Blue states will be screaming; deservedly so, because their ridiculously high tax structure will now have to be addressed. The People will be revolting in those states, and rightfully so. It is a shame red state folks have had to effectively subsidize blue staters' tax deductions.

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    Another solid job report today.



    Market looking for its 56th high of the year.





    Another company coming home:


    The AP (11/2, Miller, O'Brien) reports President Trump announced Thursday that Broadcom Limited, “a $100 billion semiconductor company based in Singapore will legally relocate its home address to the United States,” and in doing so will bring “$20 billion in annual revenue back to the US.” The AP adds that Trump’s announcement “was tied to the release of congressional Republicans’ tax reform proposal, which would drastically reduce corporate rates and makes it easier for companies to deduct foreign taxes.” Broadcom CEO Hock Tan commented, saying, “America is once again the best place to lead a business with a global footprint,” after the passage of tax reform. The New York Daily News (11/2, Slattery) quotes Tan, who said, “From this base here in the United States, each year we will invest over $3 billion a year in research and engineering and another $6 billion a year in manufacturing, creating high paying tech jobs.”

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    Quote Originally Posted by QuakerOats View Post
    The Blue states will be screaming; deservedly so, because their ridiculously high tax structure will now have to be addressed. The People will be revolting in those states, and rightfully so. It is a shame red state folks have had to effectively subsidize blue staters' tax deductions.
    I do get a little kick out of how badly this punishes the elites in NY and CA. Between eliminating deduction for state income and property taxes, and halving the cap on mortgage interest deductions....could easily be talking $30k+ tax increase on these people. But for the more truly middle class, doubling of the standard deduction will probably offset the loss of the other deductions.

    People have talked about lowering the mortgage interest deduction cap for years. The state/property tax deduction could become an interesting political football in coming years. And people start doing the math...Holy shit you just raised my property taxes 30%!!!! Holy shit you just raised my state income taxes 30%!!! Which means those people are going to push back pretty strongly against future increases in those states.

    I never thought about it, but your right this has been a hidden subsidy/wealth transfer. I think we've all seen that TX gets back more federal $ than it pays, while CA gets less. But TX has no state income tax, while CA has 10-13%. So there's a lot of "free" money there CA is able to collect because it's deducted from federal income taxes, which probably more than makes up for the difference in federal funding per capita.

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    Bingo

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    Bloomberg News (11/3, Kaskey) reported that after enduring years of under-investment, the US chemical industry is revitalized. “Today,” Bloomberg wrote, “Dow, Exxon Mobil Corp., and Chevron Phillips Chemical Co. are putting the finishing touches on multibillion-dollar factories along the Texas Gulf Coast,” and each are “part of $185 billion in proposed and recently completed investments.” The article quoted Vertical Research Partners Chemical Industry Analyst Kevin McCarthy saying, “The US is punching above its weight at the moment “in the chemical sector. An IHS Markit report is cited saying that “a torrent of cheap US natural gas has made the country among the most profitable places to produce chemicals, beating out the Middle East in attracting projects. US exports of polyethylene plastic to Asia will rise more than fivefold by 2020.” Bloomberg added, “Almost 20 factories are being built or expanded to convert gas liquids such as ethane and propane into ethylene, the most used petrochemical and the main ingredient in polyethylene plastic,” with the largest “an $11 billion complex being built near Lake Charles, La., by South Africa’s Sasol Ltd.”




    Change we can [really] believe in ...

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    Quote Originally Posted by Devils Advocate View Post
    Saint Ronalds's tax cuts really helped with the natonal debt. It rose by 186%.
    Historical facts tell us that Tip O'Neill and Reagan agreed to the tax cuts and the next year/future spending cuts.

    The Ds and Tip reneged on the future spending cuts, which had just as much to do with the debt climbing as the tax cuts did.

    The original deal was to be debt neutral, well, if you negate half the deal of course the debt swings toward that 'side'.

    Another time Reagan and O'Neill acreeed to a 3 to 1 spending cuts to tax increases.

    The tax increases actually happened while the spending cuts never did.

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    And yet St Ronnie signed the legislation.
    The walls of hospitals have heard more sincere prayers than the walls of churches

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    Quote Originally Posted by Devils Advocate View Post
    And yet St Ronnie signed the legislation.
    I am not saying that Reagan is 100% absolved from the situation, just saying that if we are playing blame, at least 80% of it goes on O'Neill for the bait and switch and 20% on Reagan for falling for it.

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    Summary of receipts and outlays during the Reagan decade; while revenues doubled (when tax rates were cut dramatically), the congressional dems still spent far more. Sad.

    Year Total
    Receipts Outlays Surplus or Deficit (–)
    1980 517,112 590,941 -73,830
    1981 599,272 678,241 -78,968
    1982 617,766 745,743 -127,977
    1983 600,562 808,364 -207,802
    1984 666,438 851,805 -185,367
    1985 734,037 946,344 -212,308
    1986 769,155 990,382 -221,227
    1987 854,287 1,004,017 -149,730
    1988 909,238 1,064,416 -155,178
    1989 991,104 1,143,743 -152,639
    1990 1,031,958 1,252,993 -221,036


    https://www.whitehouse.gov/omb/budget/Historicals

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    ^^^Its easy to spend other peoples money

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    AT&T Chairman and CEO Randall Stephenson announced Wednesday that “the company plans to invest $1 billion in the US within the first year that the new tax code is law.” Stephenson said, “With a rate of 20% combined with provisions for full expensing of capital expenditures for the next five years, we’re prepared to increase our investment in the United States. If the House bill is signed into law, we’d commit to increase our domestic investment by $1 billion in the first year in which the new rates are in place. And research tells us that every $1 billion in capital invested in telecom creates about 7,000 good jobs for the middle class.”




    Change we can [really] believe in ...

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    Trump intercedes on behalf of UCLA b-ball; detainees released.


    More winning.



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    Quote Originally Posted by QuakerOats View Post
    Trump intercedes on behalf of UCLA b-ball; detainees released.


    More winning.


    Kids steal.

    Kids get caught and detained.

    Trump pulls strings so kids face no punishment for stealing.


    That's winning? Getting people off the hook for crimes they committed? How are you not a neo-Democrat if you think that's winning?
    "When has anyone ever been persuaded by being insulted or labeled? [...] That's why people wait until they're in the voting booth. No one's watching anymore. There's no blame or shame or anything, and you can finally say what you really think, and that is a powerful thing." - Thomas Walker as Jonathan Pie

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    Quote Originally Posted by O-Trap View Post
    Kids steal.

    Kids get caught and detained.

    Trump pulls strings so kids face no punishment for stealing.


    That's winning? Getting people off the hook for crimes they committed? How are you not a neo-Democrat if you think that's winning?
    I would hope Alford will take care of the punishment...
    Quote Originally Posted by Tiernan View Post
    Alright guys, I have a confession. I really am a drunk dead beat POS. My kids hate me and hope I die so they can at least collect my $10 of inheritance. I have no life .

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    mega sarcasm ......sorry you could not recognize it.



    Of course, helping young, under-privileged, minorities will go unrecognized also.

  19. #2619
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    Quote Originally Posted by QuakerOats View Post
    mega sarcasm ......sorry you could not recognize it.



    Of course, helping young, under-privileged, minorities will go unrecognized also.
    Ah, so you don't think that was winning, then?

    As for underprivileged ... what? LiAngelo Ball's dad is worth $4MM, he's getting college paid for, he'll probably get at least one NBA contract (he is the least talented of the three Ball kids), and he gets national media attention and star treatment.

    Don't get me wrong. I'm not saying he's never had to deal with discrimination or anything, but "underprivileged" might be the wrong word for it.
    "When has anyone ever been persuaded by being insulted or labeled? [...] That's why people wait until they're in the voting booth. No one's watching anymore. There's no blame or shame or anything, and you can finally say what you really think, and that is a powerful thing." - Thomas Walker as Jonathan Pie

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    Have you seen the Ball family's house? If that's underprivileged, sign me up!

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    Haha under privileged. They’re loaded!

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    Have you seen Jalen Hill's house or Cody Riley's?


    My guess is all 3 will be sending Mr. Trump a thank you note. And Mr. Ball Sr. may be putting a Donald logo on the next iteration of hoop shoes.

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    Quote Originally Posted by QuakerOats View Post
    Have you seen Jalen Hill's house or Cody Riley's?


    My guess is all 3 will be sending Mr. Trump a thank you note. And Mr. Ball Sr. may be putting a Donald logo on the next iteration of hoop shoes.
    LOL! Cody Riley is from Chatsworth, CA. I don't know what house is his, but the odds are good that he wouldn't qualify as "underprivileged" either, just like pretty much everyone else from Chatsworth.

    And Jalen Hill is from Corona, CA. Still a pretty decent place to live.

    But hell, even if they'd grown up in Compton, they're still celebrities now. He's helping kids who are getting college paid for and who have star power.

    I'm not saying he shouldn't have done it, but let's hold off on pretending this was to help "underprivileged minority youth."
    "When has anyone ever been persuaded by being insulted or labeled? [...] That's why people wait until they're in the voting booth. No one's watching anymore. There's no blame or shame or anything, and you can finally say what you really think, and that is a powerful thing." - Thomas Walker as Jonathan Pie

  24. #2624
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    He could wave a magic wand ending gang violence in Chicago and he would be chastised and ridiculed.

    I guess that's the point. Sorry it went over everyone's head; let's lower the hoop to 8 ft.

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    Quote Originally Posted by QuakerOats View Post
    He could wave a magic wand ending gang violence in Chicago and he would be chastised and ridiculed.

    I guess that's the point. Sorry it went over everyone's head; let's lower the hoop to 8 ft.
    Holy shit you’re dumb.

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