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Prediction: U.S. economy to look like Kansas in 4 years

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CriticalThought

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https://www.washingtonpost.com/news...aster-economic-growth/?utm_term=.d94ca7d8368c

Even the friendliest analysis toward Trump, work by the independent Tax Foundation that the Trump campaign frequently cited to bolster his proposals, finds Trump’s plan would add at least $2.6 trillion to the federal debt over a decade, and as much as $3.9 trillion, after accounting for increased economic growth.

The Tax Foundation also finds Trump’s plan would boost incomes for the top 1 percent of U.S. earners by between 10 and 16 percent, an amount that dwarfs the benefits lower- and middle-income earners would see from the plan. That’s true even though the group factored in Trump’s promise to limit deductions for high earners, which Mnuchin reiterated on Wednesday.
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More debt and more income for the wealthy and that is the best case scenario if the economy grows. Tax cuts for the wealthy worked so well for Brownback in Kansas. I like being outright lied to with the notion there is no "absolute cut" for the wealthy when your own sources say otherwise. But hey, increase income inequality further through tax policy that redistributes wealth to the top then complain the bottom 50% is not carrying their share of the tax burden and demand more tax cuts. Great strategy. Will Americans ever learn?
 
I stopped making predictions about Trump after he won the election.
 
TheGoverness said:
I stopped making predictions about Trump after he won the election.
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I predicted he would win. My next prediction is that he will stagnate the economy with his tax policy.

Kansas? Tax Cut Experience Refutes Economic Growth Predictions of Trump Tax Advisors | Center on Budget and Policy Priorities

Kansas provides a perfect look at what we can expect from his plan.

In fact, the tax cut failed to boost the Kansas economy:

Since it took effect in January 2013, total employment in Kansas has risen only 2.6 percent, compared to 6.5 percent nationally. Private sector employment in Kansas has risen 3.5 percent, compared to 7.6 percent nationally.

The state’s economy has grown less than half as fast as the national economy; Kansas’ gross domestic product (GDP) grew 4.8 percent from the end of 2012 through the first quarter of 2016, while national GDP rose 11.9 percent.

Kansas’ share of newly opened business establishments in the United States has actually declined slightly rather than increased.
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Kansas is being propped up on savings right now. When those savings run out they have to raise taxes.
 
CriticalThought said:
I predicted he would win. My next prediction is that he will stagnate the economy with his tax policy.

Kansas? Tax Cut Experience Refutes Economic Growth Predictions of Trump Tax Advisors | Center on Budget and Policy Priorities

Kansas provides a perfect look at what we can expect from his plan.



Kansas is being propped up on savings right now. When those savings run out they have to raise taxes.
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Or decimate services. Or both!

I'm blown away that some voters will idiotically believe the mantra of pols who sell them the deal of getting something for nothing!

Do they think life is full of freebies?

You get what you pay for!
 
Chomsky said:
Or decimate services. Or both!

I'm blown away that some voters will idiotically believe the mantra of pols who sell them the deal of getting something for nothing!

Do they think life is full of freebies?

You get what you pay for!
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Free lunches taste better!
 
joG said:
Free lunches taste better!
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:thumbs:

And unfortunately, for the one I'm leaving for at this very moment - I'll be paying!

But they're both nice women to whom I owe a lot in terms of business & personal assistance! One share's my name, the other assists the name-sharer! It's the least I can do! :mrgreen:
 
CriticalThought said:
https://www.washingtonpost.com/news...aster-economic-growth/?utm_term=.d94ca7d8368c



More debt and more income for the wealthy and that is the best case scenario if the economy grows. Tax cuts for the wealthy worked so well for Brownback in Kansas. I like being outright lied to with the notion there is no "absolute cut" for the wealthy when your own sources say otherwise. But hey, increase income inequality further through tax policy that redistributes wealth to the top then complain the bottom 50% is not carrying their share of the tax burden and demand more tax cuts. Great strategy. Will Americans ever learn?
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my grandson passed through Kansas one time. says the people there are very faithful and good hearted. trump did a great job.
 
CriticalThought said:
https://www.washingtonpost.com/news...aster-economic-growth/?utm_term=.d94ca7d8368c



More debt and more income for the wealthy and that is the best case scenario if the economy grows. Tax cuts for the wealthy worked so well for Brownback in Kansas. I like being outright lied to with the notion there is no "absolute cut" for the wealthy when your own sources say otherwise. But hey, increase income inequality further through tax policy that redistributes wealth to the top then complain the bottom 50% is not carrying their share of the tax burden and demand more tax cuts. Great strategy. Will Americans ever learn?
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A $260B per year deficit is less than the current deficit of $400B per year, so no it would not be comparable to Brownback. It would be an improvement
 
CriticalThought said:
https://www.washingtonpost.com/news...aster-economic-growth/?utm_term=.d94ca7d8368c



More debt and more income for the wealthy and that is the best case scenario if the economy grows. Tax cuts for the wealthy worked so well for Brownback in Kansas. I like being outright lied to with the notion there is no "absolute cut" for the wealthy when your own sources say otherwise. But hey, increase income inequality further through tax policy that redistributes wealth to the top then complain the bottom 50% is not carrying their share of the tax burden and demand more tax cuts. Great strategy. Will Americans ever learn?
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Well, that will increase my personal wealth, hopefully it doesn't decimate our economy before we get a chance to change the guard. Judging by how slowly Washington moves, we may just have a decent chance.
 
Ockham said:
Hmm... predictions....

Remember these?
https://www.youtube.com/watch?v=qtrrZUOU_UU

A Trump win would sink stocks. What about Clinton? - Oct. 24, 2016

US stock market will fall 35 if Trump wins: Citi

Pollsters: We 'clearly got it wrong this time' - POLITICO



Yeah, I'm just not going to predict squat because the people who do this for a living, who made a career out of politics, following politics, predicting politics, were all wrong and not in a small way.
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Fine with me, but I predicted Trump would win and so far I am batting 100.
 
11Bravo said:
my grandson passed through Kansas one time. says the people there are very faithful and good hearted. trump did a great job.
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I am sure there are kind and faithful people in North Korea. Would you advise drafting our economic policy from them?
 
CriticalThought said:
https://www.washingtonpost.com/news...aster-economic-growth/?utm_term=.d94ca7d8368c



More debt and more income for the wealthy and that is the best case scenario if the economy grows. Tax cuts for the wealthy worked so well for Brownback in Kansas. I like being outright lied to with the notion there is no "absolute cut" for the wealthy when your own sources say otherwise. But hey, increase income inequality further through tax policy that redistributes wealth to the top then complain the bottom 50% is not carrying their share of the tax burden and demand more tax cuts. Great strategy. Will Americans ever learn?
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Well, I suppose the flip side is to do what socialist progressives have done in California. There, socialist progressives have set the course to take down the 6th Largest economy in the world.

Forbes Welcome



"California’s short-term budgetary issues have been somewhat relieved, largely due to soaring capital gains from the tech and high end real estate booms; just 5,745 taxpayers earning $5 million or more generated more than $10 billion of income taxes in 2013, or about 19% of the state’s total, according to state officials."​

36 million people, 5,745 of them responsible for 19% of the state total income tax revenue.

Nope, they will never learn.
 
CriticalThought said:
I am sure there are kind and faithful people in North Korea. Would you advise drafting our economic policy from them?
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whats the harm in giving them the benefit of the doubt
 
ocean515 said:
Well, I suppose the flip side is to do what socialist progressives have done in California. There, socialist progressives have set the course to take down the 6th Largest economy in the world.

Forbes Welcome



"California’s short-term budgetary issues have been somewhat relieved, largely due to soaring capital gains from the tech and high end real estate booms; just 5,745 taxpayers earning $5 million or more generated more than $10 billion of income taxes in 2013, or about 19% of the state’s total, according to state officials."​

36 million people, 5,745 of them responsible for 19% of the state total income tax revenue.

Nope, they will never learn.
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Socialist progressives?

The California Chasm: A Look At Income Inequality In The Golden State | The Huffington Post

Beginning in the 1980s, the rich began to pull away from the rest. Between 1979 and 2012, California’s Top One Percent nearly doubled their incomes, increasing by 189.5 percent, while incomes for the other 99 percent actually fell by 6.3 percent.
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Hm...I wonder what happened in the 1980s in California.
 
CriticalThought said:
Socialist progressives?

The California Chasm: A Look At Income Inequality In The Golden State | The Huffington Post



Hm...I wonder what happened in the 1980s in California.
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LOL

As the Forbes article documented, income inequality has sky rocketed under socialist progressive control.

So let's focus on the last 15 years, where socialist progressives have had complete control of the legislature, rather than what happened 35 years ago.

Perhaps you need to be reminded that California is ranked in the top tier when in comes to income taxes and other fees imposed on it's citizens.
 
ocean515 said:
Well, I suppose the flip side is to do what socialist progressives have done in California. There, socialist progressives have set the course to take down the 6th Largest economy in the world.

Forbes Welcome



"California’s short-term budgetary issues have been somewhat relieved, largely due to soaring capital gains from the tech and high end real estate booms; just 5,745 taxpayers earning $5 million or more generated more than $10 billion of income taxes in 2013, or about 19% of the state’s total, according to state officials."​

36 million people, 5,745 of them responsible for 19% of the state total income tax revenue.

Nope, they will never learn.
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So what? How much was their income? If those 6,000 people only made $5M each, they were at a tax rate of 33%. I'd guess a couple thousand of them earn north of $50M, putting their effective tax rate down at 10% or less, right in line with the peasants of the state.


Sent from my SM-G360V using Tapatalk
 
Chomsky said:
Or decimate services. Or both!

I'm blown away that some voters will idiotically believe the mantra of pols who sell them the deal of getting something for nothing!

Do they think life is full of freebies?

You get what you pay for!
Click to expand...

It really depends on what he does.
Government is better off with lower taxes and more economic activity
Rather than higher taxes and lower economic activity.

There is a line in which lower taxes won't bring further activity so there is no point in going lower.

The issue with Kansas is well Kansas. There isn't much there. The goal is to incentive businesses to grow.
They put the cart before the horse sort of speak.

Reagan did it bush jr did it etc..

We need a new tax system, and we need a new corporate tax structure.
We need to incentivize economic growth in small business.
 
CriticalThought said:
https://www.washingtonpost.com/news...aster-economic-growth/?utm_term=.d94ca7d8368c



More debt and more income for the wealthy and that is the best case scenario if the economy grows. Tax cuts for the wealthy worked so well for Brownback in Kansas. I like being outright lied to with the notion there is no "absolute cut" for the wealthy when your own sources say otherwise. But hey, increase income inequality further through tax policy that redistributes wealth to the top then complain the bottom 50% is not carrying their share of the tax burden and demand more tax cuts. Great strategy. Will Americans ever learn?
Click to expand...

I predicted that a Trump victory would cause Liberal heads to explode. This OP is exactly what that looks like
 
CriticalThought said:
https://www.washingtonpost.com/news...aster-economic-growth/?utm_term=.d94ca7d8368c



More debt and more income for the wealthy and that is the best case scenario if the economy grows. Tax cuts for the wealthy worked so well for Brownback in Kansas. I like being outright lied to with the notion there is no "absolute cut" for the wealthy when your own sources say otherwise. But hey, increase income inequality further through tax policy that redistributes wealth to the top then complain the bottom 50% is not carrying their share of the tax burden and demand more tax cuts. Great strategy. Will Americans ever learn?
Click to expand...

Lol ! Still haven't gotten over that loss, huh ? And Kansas ? Why not Texas ?

We've been appling Conservative economic principles for years now. Oh and thanks California !

For driving away business and corporations to Texas. We sure do appreciate it !
 
ocean515 said:
LOL

As the Forbes article documented, income inequality has sky rocketed under socialist progressive control.

So let's focus on the last 15 years, where socialist progressives have had complete control of the legislature, rather than what happened 35 years ago.

Perhaps you need to be reminded that California is ranked in the top tier when in comes to income taxes and other fees imposed on it's citizens.
Click to expand...

I can't see any reason to defend California. The Kansas approach isn't any better.
 
Wow, we'll nationally go down to 4.3% unemployment like Kansas has now? Cool!
 
Fenton said:
Lol ! Still haven't gotten over that loss, huh ? And Kansas ? Why not Texas ?

We've been appling Conservative economic principles for years now. Oh and thanks California !

For driving away business and corporations to Texas. We sure do appreciate it !
Click to expand...

Feel free. Texas simply uses higher sales tax and property taxes in lieu of an income tax and it has one of the most regressive tax rates in the country. Texas did well because of oil, not because of tax policy. Job growth has trailed behind population growth in EVERY other no income tax state. It doesn't work. This isn't even a partisan thing or a Trump thing, it is simple history and math. It just does not work. And yet you keep trying it.
 
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