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

The Economist - How the Republican tax bill compares with previous reforms
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looks like the same trickle down nonsense that we've seen multiple times.
 
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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In the only full month completed under the new tax law, the US Federal Government collected more tax than in any January by any country at any time in any place in the history of mankind.

We are paying less and totaling more.

What's your complaint?
 
Helix said:
looks like the same trickle down nonsense that we've seen multiple times.
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the republican mantra. got a national problem needs to be solved? the GOP solution is always "tax cut"
 
code1211 said:
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
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Only in a vacuum of special pleading. Raising the minimum wage puts upward pressure on wages.
 
danielpalos said:
Only in a vacuum of special pleading. Raising the minimum wage puts upward pressure on wages.
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Raising the minimum, wage puts upward pressure on balance sheets.

Improving the economy to the point at which the number of jobs to fill exceeds the number of applicants to fill them.

Money is like water. It will flow to where it flows unless acted upon by artificial forces.

As Reagan so famously observed:

"If it moves, tax it. If it keeps moving, regulate it. If it stops moving, subsidize it."

Sadly, current Liberals understand this as a literal statement of recommended governmental action instead of the satire that it was.

Trump is creating the environment in which wages will rise and make your silly exhortation to the higher minimum wage recognizable for the silliness that it is.

Of course, as wages rise the threat of automation displacing workers is growing.

 
code1211 said:
Raising the minimum, wage puts upward pressure on balance sheets.

Improving the economy to the point at which the number of jobs to fill exceeds the number of applicants to fill them.

Money is like water. It will flow to where it flows unless acted upon by artificial forces.

As Reagan so famously observed:

"If it moves, tax it. If it keeps moving, regulate it. If it stops moving, subsidize it."

Sadly, current Liberals understand this as a literal statement of recommended governmental action instead of the satire that it was.

Trump is creating the environment in which wages will rise and make your silly exhortation to the higher minimum wage recognizable for the silliness that it is.

Of course, as wages rise the threat of automation displacing workers is growing.

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just more right wing canards.

we don't care if we lose low wage jobs.

U.S. has record 6 million job openings, even as 6.8 million Americans are looking for jobs - Jun. 6, 2017
 
code1211 said:
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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Piffle 'n drivel.

Moving right along ...
 
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code1211 said:
In the only full month completed under the new tax law, the US Federal Government collected more tax than in any January by any country at any time in any place in the history of mankind.

We are paying less and totaling more. What's your complaint?
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You obviously DO NOT UNDERSTAND ECONOMIC RESEARCH. Here is the complaint visually:
20141108_FNC156.png


How many times must I put up that infographic for you to understand?

You are in an ECONOMICS FORUM, dammit!

And how about this one: 11 Charts That Show Income Inequality Isn’t Getting Better Anytime Soon


Now YOU refute economic fact with your baneful whimsies - and good luck trying to do so ... !
 
Lafayette said:
You obviously DO NOT UNDERSTAND ECONOMIC RESEARCH. Here is the complaint visually:
20141108_FNC156.png


How many times must I put up that infographic for you to understand?

You are in an ECONOMICS FORUM, dammit!

And how about this one: 11 Charts That Show Income Inequality Isn’t Getting Better Anytime Soon


Now YOU refute economic fact with your baneful whimsies - and good luck trying to do so ... !
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The post to which I responded was one in which you complained that the new tax code would increase the debt implying that the tax revenues would decrease. Clearly, the tax revenues have increased.

As you noted, this is an economics forum.

NOW, in this post, you take off on an unrelated tangent on income inequality.

Which topic would you like to discuss?

Pick one and I'll be glad to discuss.
 
code1211 said:
Prior to this post, you were campaigning to increase the minimum wage.

Suddenly you don't care if "we lose low wage jobs".

To make things even more interesting, you link to an article that supports my position.

Your's is a fascinating debating technique.
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yes, pay attention right winger.

A fifteen dollar an hour minimum wage!
 
danielpalos said:
No, I simply learned about economics, unlike the right wing.

A fifteen dollar an hour minimum wage will help Labor attain those unfilled positions, more capitally.
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It's as likely that a mandated $15.00/hour minimum wage will reduce the number of jobs to be attained.
 
code1211 said:
It's as likely that a mandated $15.00/hour minimum wage will reduce the number of jobs to be attained.
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We don't care if we lose low wage jobs.

Why should Labor care to work for Capitalists who are not as good as Henry Ford; why work for a lousy capitalist who can Only make it on cheap labor and Not the Individualism, of being a better Capitalist.

Any other unimportant obstacles to progress in modern times?
 
danielpalos said:
We don't care if we lose low wage jobs.

Why should Labor care to work for Capitalists who are not as good as Henry Ford; why work for a lousy capitalist who can Only make it on cheap labor and Not the Individualism, of being a better Capitalist.

Any other unimportant obstacles to progress in modern times?
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Many Minimum Wage Jobs are filled by people at entry level positions. They come off the street with no experience, no knowledge of the job and no value to the company and are trained to perform an often repetitive and non-creative function.

Raising the cost to hire a person to do these kind of jobs means that automation becomes a less costly alternative.

Buying a $75,000 machine that works 24 hours each day is suddenly a bargain compared to 3 employees that fill that same 24 hours each day at $30K per year per head. Add to the wage cost the costs to train, provide benefits and cover absences and we start to see entry level jobs disappear.

Raising the minimum may serve to eliminate some of those jobs barring entry into the pipeline that will lead to better things.

In your Utopian wage rate pay system, are you happy that half the workers are now idle while the other half earn a third more?

Don't believe it? Check the employment levels of Sears, as an example in 1980 vs today and then check the growth of Amazon as a retailer.
 
code1211 said:
Many Minimum Wage Jobs are filled by people at entry level positions. They come off the street with no experience, no knowledge of the job and no value to the company and are trained to perform an often repetitive and non-creative function.

Raising the cost to hire a person to do these kind of jobs means that automation becomes a less costly alternative.

Buying a $75,000 machine that works 24 hours each day is suddenly a bargain compared to 3 employees that fill that same 24 hours each day at $30K per year per head. Add to the wage cost the costs to train, provide benefits and cover absences and we start to see entry level jobs disappear.

Raising the minimum may serve to eliminate some of those jobs barring entry into the pipeline that will lead to better things.

In your Utopian wage rate pay system, are you happy that half the workers are now idle while the other half earn a third more?

Don't believe it? Check the employment levels of Sears, as an example in 1980 vs today and then check the growth of Amazon as a retailer.
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Like I said; Policy of some on the left is to lose low wage jobs via capitalism, even if mandated by command economics via Government.

We don't care if we lose jobs that pay less than the cost of social services, which is around fourteen dollars an hour.

Lousy capitalists will fail and better capitalists will succeed, via capitalism.
 
danielpalos said:
No, I simply learned about economics, unlike the right wing.
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emphasis added by bubba to reference Einstein's observation, "make things as simple as possible but not simpler"


A fifteen dollar an hour minimum wage will help Labor attain those unfilled positions, more capitally.
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it will not
but you are welcome to prove me wrong
 
danielpalos said:
A fifteen dollar an hour minimum wage will help Labor attain those unfilled positions, more capitally.

how is that untrue? i am not the liar in this thread.
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a $15 per hour minimum wage will do nothing to qualify those low skilled employees to qualify for jobs for which they continue to be without the skills to perform

you seem to want it to be true that the increased wage will somehow qualify persons that are not othewise qualified to fulfill those unfilled positions
 
justabubba said:
a $15 per hour minimum wage will do nothing to qualify those low skilled employees to qualify for jobs for which they continue to be without the skills to perform

you seem to want it to be true that the increased wage will somehow qualify persons that are not othewise qualified to fulfill those unfilled positions
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Special pleading much? A fifteen dollar an hour minimum helps with just that issue, whenever it merely requires, capital.
 
danielpalos said:
Special pleading much? A fifteen dollar an hour minimum helps with just that issue, whenever it merely requires, capital.
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how does a $15 minimum wage automatically cause low skill employees to suddenly become eligible to perform high skilled employment

can't wait to see that (non) answer
 
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