Senate tax bill throws swamp water on successful Trump economy

Posted by $ nickursis 6 years, 5 months ago to Government
21 comments | Share | Flag

Well, despite our strong debate on the virtues (or not) of taxes, deductions and such, apparently the Republicrats can be counted on to be their usual dysfunctional self's, and get exactly nothing done. However, I am betting this may cost them either the House or the Senate, as they have accomplished 0 since taking power.
SOURCE URL: http://www.foxnews.com/opinion/2017/11/12/senate-tax-bill-throws-swamp-water-on-successful-trump-economy.html


Add Comment

FORMATTING HELP

All Comments Hide marked as read Mark all as read

  • Posted by DrZarkov99 6 years, 5 months ago
    The measure of a successful economy is how much industry is willing to make long term investments. Just the rollback of stifling regulations has loosed the purse strings of a number of companies, and hiring is definitely up. I've spoken to a number of business owners who say their biggest problem is in finding new workers, even in the low skilled (not unskilled) labor market. Entry wages are rising, without any new mandated minimum wage laws, which is a sign of a high demand for labor. The GDP increase rate has topped 3% in the last two quarters, a goal not achieved in the entire eight years of the previous administration.

    Some form of tax revision will take place. The overseas funds repatriation alone represents a huge lump of revenue that Congress is eager to get its hands on. The estate tax will probably be reduced, either by a further increase in the estate value subject to tax, or a lowering of the percentage. The Alternate Minimum Tax probably won't go away, but the income subject to the AMT will probably rise, with the AMT automatically adjusted for inflation. Reduction in corporate tax will probably cut in stepwise, with reductions to 30%, 25%, and 20% in successive tax years.

    If Republicans can get better at pushing the fact that doubling the standard deduction will make it possible for most filers to pay less and simplify their filings, a lot of the anguish over reduced or eliminated itemized deductions will vanish. Those eliminations only hurt the wealthy, who are spilling lots of crocodile tears over how this will hurt the middle class, who will actually benefit.

    Those assessments aren't my desire for change, which is a low flat tax and fees for service, but what I think the negotiations will settle on. The Democrats are playing a dangerous game by emphasizing their disdain for ANY reduction in taxes, and insisting on static analysis, when the dynamics are playing out in front of the public's eyes.

    I do think the swamp is deliberately neglecting the "sell" aspect of the tax reform plan, and catering to their lobbyist buddies. Whether or not the White House can instill courage in its few congressional allies to get this done is another story.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by wiggys 6 years, 5 months ago
      Sir: would you as the owner of a billion dollar enterprise that moved off shore want to come back and set up a factory to produce knowing ALL of the rules and regulations now associated with manufacturing in the continental USA? No company of size I believe will come back so there will not be any job creation and what is being publicized in my opinion to be civil about job creation is government "bunk".
      Reply | Mark as read | Parent | Best of... | Permalink  
      • Posted by DrZarkov99 6 years, 5 months ago
        Will companies bring back production that is now cheaper to do overseas? I doubt it. However, there's always something new to invest in, and the 10% repatriation tax is enticing. The question has to be whether or not there are enough innovative ideas to invest in that will create a significant increase in jobs comparable to the ones lost to automation or overseas. Automation has had a bigger impact on labor than overseas flight of money, and is only going to continue to cut humans out of the picture.
        Reply | Mark as read | Parent | Best of... | Permalink  
    • Posted by $ 6 years, 5 months ago
      Agreed Doc, they have blundered this, just like the health care thing, and it is because they have no good speaker for their side, and renegades like McCain the left holds up as "see, even he is against it". They never have a compelling argument as to why what they propose is better than the crap we have.
      Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by wiggys 6 years, 5 months ago
    big deal! when you calculate the costs associated with the "affordable care act" to people who work they cannot accept any raises because it will put them in a position of having no government assistance to keep their costs down. I personally would like to see it totally repealed and then lets talk a bout tax relief. until then the average middle class population is screwed.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by GaryL 6 years, 5 months ago
    Republicans stand by republican ideals and democrats stand by democrat ideals but neither side gives a shit about American ideals. They could take a lesson from the professional Boxers in the ring. When the fight is over you shake hands and move forward.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by CaptainKirk 6 years, 5 months ago
    This is simply: The Swamp vs. America.
    535 ppl control what 360 Million people get to say, do, and earn.
    And those people are beholden to DONORS, not their constituents. And if they are replaced. The DONORS will educate the new comers.

    The ONLY thing that scares them are people who do not need DONORS... Like Trump...

    The American people have spoken/voted. And this is the Swamp 'splainin' how they are in control, regardless of what we want. And the donors would not mind democrat control of the house and senate in 2018.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by $ 6 years, 5 months ago
      Sad thing is, the Dumbocraps may well get it, as there is a fairly significant group who are disillusioned with Trumps inability to put a leash on McConnell and Ryan and get them to get on board, making him a eunuch in the harem....
      Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by freedomforall 6 years, 5 months ago
    What successful economy?
    How to judge a "successful" economy? Stock Market is going up? So what. If a DJIA company fails or lags it gets removed from the index and replaced by a company showing growth so the index is biased toward higher prices. Its not a measure of the economy at all.
    Government issues lots of economic statistics and they are all biased to show success not failure because the pols want brainwashed pollyannas to feel the economy is getting better and to re-elect the thieves and looters currently in office.
    Remove all government spending (all wasted), and account for expanding debt spent on frivolous toys and degrees in women's studies and the economy has been contracting for decades.
    Supposed economic growth is all bullshit.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by term2 6 years, 5 months ago
      The stock market isnt a good judge of anything except investors' estimate of being able to unload the stocks to a greater fool later. Also, its more of an indicator of inflation than anything else at this point.

      I will say that Trump had made people more excited about advancing forward with his stance on political correctness and reduction of regulations. When people are more motivated about working, the economy will improve as it has given the employment numbers have shown.

      That said, the swamp has fought Trump at every turn, and as its becoming apparent that Trump cant get much done without the swamp agreeing to it, the enthusiasm is waning for sure. I can feel it.

      The repubs wont get a tax revision through this year in my estimation, so I have given up on Trump really doing anything except what can be done by pure executive order (which I applaud him for).

      I am more and more thinking that the collapse should be accelerated. Might as well get this whole socialist thing over with once and for all. Heavy education along with pro collapse actions will probably be required.
      Reply | Mark as read | Parent | Best of... | Permalink  
    • Posted by $ 6 years, 5 months ago
      Stock market is all an artificial gamed system. Their ststatistics are lies you can tell that just looking at prices, my guess is inflation is 8-12% which reflects the one statistic they really can't hide (medical costs passed on each year to employees). So yes, it is all bullshit.
      Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by freedomforall 6 years, 5 months ago
    Well, there were some warnings long before the election just what to expect from the GOP. They've been looting since 1860 and been obvious liars since the Clinton administration. Yes, the Dems are just as bad, and Hitlery would have been worse for liberty in the short term.

    Oh, and the writer of this article is a Trump shill. Does she have any clue? Hard to tell.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by $ 6 years, 5 months ago
      Well, the true point was to show they can never be expected to pass anything, and it does not matter which party is in there, they both loot, and lie. They both need to go.
      Reply | Mark as read | Parent | Best of... | Permalink  
  • Posted by brkssb 6 years, 5 months ago
    Something simple. Intuit or another company create a simulator, let me or business entity run previous tax returns, yield comparison to proposed tax rates. Develop what if program option.
    Reply | Mark as read | Best of... | Permalink  
  • Posted by 1musictime 6 years, 5 months ago
    The U.S. economy is increasing. It is number one. It will be number one. Not China...nor India.
    Reply | Mark as read | Best of... | Permalink  
    • Posted by 1musictime 6 years, 5 months ago
      The U.S. economy is the most successful. It will continue.None will replace it. No country will be greater. The U.S. is the future.
      Reply | Mark as read | Parent | Best of... | Permalink  
      • Posted by $ 6 years, 5 months ago
        music, sad to say, that is not true, and a lot of it is due to basic business. Why would a company have a factory in the US where it costs 20 or 30 dollars an hour and health care and mandated this that, (including what a lot of people forget, every employee costs 15% hidden costs of theit income for social security/medicare, no one mentions), when they can go somewhere else to hire people at a flat 8 dollars an hour?
        Reply | Mark as read | Parent | Best of... | Permalink  

FORMATTING HELP

  • Comment hidden. Undo