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Thread: The final GOP tax bill is complete. Here’s what is in it.

  1. #11
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    Re: GOP releases its final tax plan — here's what's in it

    Quote Originally Posted by <alt>doxygen View Post
    It's designed so that it will goose the economy in the near term - that's what the 1.5 trillion does, at least hopefully. You need to look down the road and think about what happens when portions of this package expire. Either they won't be allowed to expire and the result will be added government debt, or they will expire and the middle class will get hit with a tax increase.

    The "tax cuts pay for themselves and more" myth has been disproved by Reagan, GWB and more recently Kansas.
    They will be renegotiated.

    Obviously, we can't keep plopping along at 2% growth. That is a non starter.
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    Re: GOP releases its final tax plan — here's what's in it

    Tax cuts are popular.
    And, we want to believe that they will magically pay for themselves.

    History does not support that idealistic myth, but what the heck, let's go ahead and cut taxes anyway.
    "The greatest enemy of knowledge is not ignorance. It is the illusion of knowledge" Stephen Hawking

  3. #13
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    Re: GOP releases its final tax plan — here's what's in it

    Quote Originally Posted by chuckiechan View Post
    If the plans fails and the economy flops, then fine. The Republicans failed, Democrats can cheer, but historically, betting against tax cuts has been a losing bet.
    In reality when the Republicans run the economy into the ground again, it will inevitably be reframed by the base as the fault of the Democrats. Bush drove the economy off a cliff and let the next president clean up the mess, and the GOP base still blames Obama for the economic downturn. There is no accountability, so whatever damage done by Trump and his corporate goons will inevitably be shrugged off as liberalism destroying America.

    And no, trickle-down has never worked, it's always been a failure and they've always had to step it back a few years down the road.

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    Re: GOP releases its final tax plan — here's what's in it

    Quote Originally Posted by chuckiechan View Post
    https://www.cnbc.com/2017/12/15/gop-...ats-in-it.html

    I hate to be a jerk, but you really have to read the article, follow the links, and apply them to your personal situation. There is a whole lot of misinformation out there. The vote I understand is Tuesday. Merry Christmas!

    The democrat argument is this:



    The republican argument is basically:

    "If you believe the economy won't grow due to the tax plan then the deficit numbers from the Join Committee on Taxation will prevail." It's that simple.

    So your job as a responsible person is to cut away from the bull**** you are seeing from the media, get out a calculator, last years tax returns, and work it out. (or ballpark your '16 earnings) You can't ignore the two competing forces: Democrats out of power, and Republicans in. Republicans are writing the plan in the plain daylight the way things of this magnitude are supposed to be done.

    If the plans fails and the economy flops, then fine. The Republicans failed, Democrats can cheer, but historically, betting against tax cuts has been a losing bet.

    Note: There will be a quiz on Monday...
    One massive overarching problem though:

    In 2024 all the individual rate reductions go away. Corporate reductions stay.

    How is this possibly good?
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    Re: GOP releases its final tax plan — here's what's in it

    Quote Originally Posted by <alt>doxygen View Post
    It's designed so that it will goose the economy in the near term - that's what the 1.5 trillion does, at least hopefully. You need to look down the road and think about what happens when portions of this package expire. Either they won't be allowed to expire and the result will be added government debt, or they will expire and the middle class will get hit with a tax increase.

    The "tax cuts pay for themselves and more" myth has been disproved by Reagan, GWB and more recently Kansas.
    Exactly.

    And they're not even trying, they made the middle-class stuff temporary! It's just a temporary bone thrown to obfuscate their real actions --> payback to their donors.

    Don't get sold by this blatant snake-oil hucksterism!
    "When fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis

    The 10 Commandments of Logic - (Courtesy of Abbazorkzog Blog)

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    Re: GOP releases its final tax plan — here's what's in it

    Quote Originally Posted by chuckiechan View Post

    If the plans fails and the economy flops, then fine. The Republicans failed, Democrats can cheer, but historically, betting against tax cuts has been a losing bet.
    The problem with conservatives in general ...
    I'm not going to chase you while you run around with the goalpost in your arms.

  7. #17
    Well, okay...
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    Re: GOP releases its final tax plan — here's what's in it

    Quote Originally Posted by Chomsky View Post
    Exactly.

    And they're not even trying, they made the middle-class stuff temporary! It's just a temporary bone thrown to obfuscate their real actions --> payback to their donors.

    Don't get sold by this blatant snake-oil hucksterism!
    The gall of this bunch is astonishing. I'm lucky to be living in a state where they don't tax my income. I hope the dems take over and reverse most of this idiotic bill. It's needlessly cruel, but at least Trump and the GOP are doing it out in front of everyone's face.
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    Re: GOP releases its final tax plan — here's what's in it

    Let's try it. Look at Obama failed economy. Never got 3% GDP and millions of lost jobs. Trump will #MAGA

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    Re: GOP releases its final tax plan — here's what's in it

    The Socialist reply: "It's cruel". Is that all you have?

  10. #20
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    Re: GOP releases its final tax plan — here's what's in it

    Quote Originally Posted by Chomsky View Post
    One massive overarching problem though:

    In 2024 all the individual rate reductions go away. Corporate reductions stay.

    How is this possibly good?
    Because it sets the table for the next presidential election in 2024 assuming it's Trumps last term. If not, it's a mid term for someone else.

    So you get to vote on whether you like your new lot in life or you don't.
    Trump is here because we made an existential bad bargain with China
    Only the very wealthy can afford to say "NO" to the FBI.
    1975 was the last time the US had a positive trade balance.
    American students want to be "happy". Chinese students want to rule the world.

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