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The Economist - How the Republican tax bill compares with previous reforms

danielpalos said:
only in right wing fantasy.
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Tax Revenues for the only complete month under the new tax plan were the highest ever for any January for any country at any time anywhere.

Taxes paid by about 90% of American tax payers are down.

Take home pay for about 90% of American tax payers are up.

So, tax rates down, revenues up.

What are you complaining about?
 
danielpalos said:
Good, Labor needs a pay raise to help pay for infrastructure.

A fifteen dollar an hour minimum wage!
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I'm missing the logical connection.

How does giving anyone a pay raise to flip a burger going to pay to repair the pot hole on Washington Street?
 
code1211 said:
Tax Revenues for the only complete month under the new tax plan were the highest ever for any January for any country at any time anywhere.

Taxes paid by about 90% of American tax payers are down.

Take home pay for about 90% of American tax payers are up.

So, tax rates down, revenues up.

What are you complaining about?
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Our infrastructure is crumbling and the right wing doesn't want the poor to help out more, with a fifteen dollar an hour minimum wage.
 
danielpalos said:
Our infrastructure is crumbling and the right wing doesn't want the poor to help out more, with a fifteen dollar an hour minimum wage.
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So, then, two separate and unrelated points that you combine to confuse?

Did the entire infrastructure crumble in the last year?
 
Lafayette said:
Here: How the Republican tax bill compares with previous reforms

Excerpt:


When the next crisis looms regarding the National Debt, and it will arrive soon enough, we shall all know who to blame.

The US is living on borrowed time. Enjoy ... !
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This tax bill encourages entrepreneurship rather than social welfare. It's a massive change in the way federal taxation in this country is looked at and could well spur tremendous economic growth. It's a fantastic opportunity for the unemployed and underemployed to get into the economy.
 
danielpalos said:
I thought it was a self-evident Truth, that higher paid labor can afford to pay more taxes.
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That is, no doubt, true but it is also true that doubling labor costs reduces the number of folks hired meaning that more will require taxpayer subsidies. Many that have now have no problem paying $30 to have their tiny lawns maintained would not pay $50 for that same service - they will either do it themselves or hire "off the books" folks that will still do it for $30. That adds to the jobs that citizens just won't do.
 
ttwtt78640 said:
That is, no doubt, true but it is also true that doubling labor costs reduces the number of folks hired meaning that more will require taxpayer subsidies. Many that have now have no problem paying $30 to have their tiny lawns maintained would not pay $50 for that same service - they will either do it themselves or hire "off the books" folks that will still do it for $30. That adds to the jobs that citizens just won't do.
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doubling the cost of labor does not equal doubling of price inflation for consumer goods.
 
danielpalos said:
doubling the cost of labor does not equal doubling of price inflation for consumer goods.
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That is why my example used a service and at less than double the cost. One that can now afford to pay $60/day for labor may not be able to pay $120/day for that same level of production/sales. If labor is only 1/3 of their costs it would still require at least a 1/6 increase in price (more because their material suppliers are also going to have to raise prices) just to break even.
 
danielpalos said:
so what if we lose, low wage jobs? who cares.

There is no unemployment, only underpayment.

A fifteen dollar an hour minimum wage!
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Those that used to work those low wage jobs will care. $10/hour is better than having to depend 100% of the "safety net" because your ex-job was moved to Mexico.
 
ttwtt78640 said:
That is why my example used a service and at less than double the cost. One that can now afford to pay $60/day for labor may not be able to pay $120/day for that same level of production/sales. If labor is only 1/3 of their costs it would still require at least a 1/6 increase in price (more because their material suppliers are also going to have to raise prices) just to break even.
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Henry Ford doubled autoworker wages, not minimum wages. So what if we lose, low wage jobs.
 
Lutherf said:
This tax bill encourages entrepreneurship rather than social welfare. It's a massive change in the way federal taxation in this country is looked at and could well spur tremendous economic growth. It's a fantastic opportunity for the unemployed and underemployed to get into the economy.
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It does nothing of the kind. It increases Net after-tax profits and that's about all. Which generally boosts the net total revenue of TopManagement.

Jack 'n Jill America see none of the benefit whatsoever.

Economic growth is driven fundamentally by Consumer Demand, which - due to lowered unemployment rates - drives economic growth.

It was Donald Dork kissing the collective asses of TopManagement that he will call upon in three years time to for money to ge reelected.

Unless of course, he gets impeached.

Then it will be Pence who will do the knocking on their doors asking for the money. Money spent on advertising does sway public-opinion. But it does not promote "debate on the issues". Except one or two prime-time debates during the presidential elections.

More election expenditure just sells candidates as if they were "products" in a supermarket on either side of an aisle - Left and Right.

Civics Classes must be boosted in the US. From the National Education Association (March, 2017) Forgotten Purpose: Civics Education in Public Schools - excerpt:
Only 25 percent of U.S. students reach the “proficient” standard on the NAEP Civics Assessment. White, wealthy students are four to six times as likely as Black and Hispanic students from low-income households to exceed that level. Here’s why: Students in wealthier public school districts are far more likely to receive high-quality civics education than students in low-income and majority-minority schools.
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From WashPo: Many Americans know nothing about their government - excerpt:
How little do Americans know about the workings of their own government? And does it really matter to the continued workings of that government?

A new survey by the Annenberg Public Policy Center at the University of Pennsylvania finds that things are getting worse: Just a quarter of Americans in the nationally representative survey could name all three branches of government — the worst showing on that question in six years. And this is even worse: Nearly a third could not name a single branch of government.

Among the findings:
*Nearly 4 in 10 (39 percent) incorrectly said that the Constitution gives the president the power to declare war. Just more than half (54 percent) knew that the Constitution gives Congress the power to declare war.
*A vast majority (83 percent) correctly said that the Constitution gives Congress the power to raise taxes.
*A majority (77 percent) know that the Constitution says that Congress cannot establish an official religion — though almost 1 in 10 agreed with the statement that the Constitution says, “Congress can outlaw atheism because the United States is one country under God.”
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The more one knows about government, the less one listens to mind-boggling election TV commercials exhorting voters regarding a candidate because like a detergent "s/he washes whiter-than-white"...
 
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code1211 said:
What that money is spent on is not related to the methods of collecting it.
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Quite right.

But which part of the population that benefited from the tax reductions and which did not does matter!

The last time around, Donald Dork's reduction was tantamount to ass-kissing the multimillionaires most likely to donate to his reelection ...
 
danielpalos said:
I thought it was a self-evident Truth, that higher paid labor can afford to pay more taxes.
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A little over 11% of our population labors at the minimum wage. About 1.5% of our population included in that overall amount labor at the minimum working full time.

It's pretty likely that anyone earning the minimum right now will pay no tax whatever. If the Minimum were to be raised, that number would not increase significantly.

However, of the sliver of the population earning the minimum wage that actually did earn enough to pay any tax, the full timers, that amount would be about nothing paid.

The sliver of the overall tax revenue collected that goes toward infrastructure improvement from these folks would be pretty small. A sliver of a sliver.

Additionally, the folks who make less pay a lot less. The top 40% of earners pay in more than 100% of the Feds take while the bottom earners take out revenue to level it off at 100%.

It's very likely that a minimum wage worker falls into the bottom 40% and will pay no tax at all.

https://www.cnsnews.com/news/articl...ome-taxes-bottom-40-paid-91-got-average-18950
<snip>
(CNSNews.com) - The top 40 percent of households by before-tax income actually paid 106.2 percent of the nation’s net income taxes in 2010, according to a new study by the Congressional Budget Office.

At the same time, households in the bottom 40 percent took in an average of $18,950 in what the CBO called “government transfers” in 2010.
<snip>

https://www.bls.gov/opub/reports/mi...racteristics-of-minimum-wage-workers-2014.pdf
 
Lutherf said:
This tax bill encourages entrepreneurship rather than social welfare. It's a massive change in the way federal taxation in this country is looked at and could well spur tremendous economic growth. It's a fantastic opportunity for the unemployed and underemployed to get into the economy.
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Since when are you deciding who gets what from Tax Revenues?

You don't seem to have the foggiest notion of how the country works on the national level and out of DC - where all the silly-games are played. (Which nowadays more and more reminds one of Rome under Caligula and history repeating itself stoopidly.)

Most poignant example being the recent lowering of income-tax rates for people who haven't the slightest need for it because they (the 10Percenters of the American population) have more than they will ever need to live a good life.

And Replicant dolts think, "That's the way the cookie crumbles ..."
 
Lafayette said:
Quite right.

But which part of the population that benefited from the tax reductions and which did not does matter!

The last time around, Donald Dork's reduction was tantamount to ass-kissing the multimillionaires most likely to donate to his reelection ...
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Don't you just hate it when somebody edits your posts and changes their meaning to the point that what's left is unrecognizable?
 
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