Tax Bill

sturg33 said:
The deficit is a disaster and of course Obama set the precedent.

But you're going to need to stop blaming tax cuts for them. It's up to Congress to spend the money they have appropriately.
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Tea Pain

‏ @TeaPainUSA

3h3 hours ago

Trump just rolled out a 4+ trillion dollar budget.

Looks like the only way to get Republicans to care about

the deficit again is to elect another black president.
 
57Brave said:
oh Grasshopper ...
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Just to keep up with your ever accelerating dementia...

It's hypocritical for Republicans to support deficits now after opposing them under Obama, but it is not hypocritical for leftists to oppose deficits now when they supported them under Obama?
 
https://www.cnsnews.com/news/articl...d-taxes-first-month-under-tax-cut-run-surplus

During January, the Treasury collected approximately $361,038,000,000 in total tax revenues and spent a total of approximately $311,802,000,000 to run a surplus of approximately $49,236,000,000.

Over the last twenty fiscal years, going back to 1999, the federal government has run surpluses in the month of January 13 times and deficits 7 times. Six of the Januaries in which the federal government ran deficits overlapped President Barack Obama’s time in office—including January 2009, the month Obama was inaugurated, and the Januaries in 2010, 2011, 2012, 2014 and 2016.

This is how you grow and kill a deficit. You pump up revenues and then this leads to cutting expenses as people don't rely on th government to take care of them.
 
https://www.investors.com/politics/...e-turning-out-to-be-a-disaster-for-democrats/

GOP Tax Cuts Are Turning Out To Be A Disaster ... For Democrats

Writing in the Atlantic in December, longtime political reporter Ron Brownstein argued that "President Trump and congressional Republicans have just taken the same leap of faith that Democrats did when they passed the Affordable Care Act."
He went on to note that after Democrats passed ObamaCare in early 2010 — despite strong public opposition — the backlash from voters "helped propel Republicans to the biggest midterm gain in the House for either party since 1938 and gave them a majority in the chamber they still haven't relinquished."

The left-wing news site Huffington Post echoed that sentiment — with a story headlined "ObamaCare Plagued Democrats In 2010. The GOP Just Voted For A Bill Even Less Popular" — predicting that the GOP would end up "hoping that when voters head to the ballot box next year, the tax bill isn't at the top of many minds."

It's true that ObamaCare contributed to the huge GOP gains in 2010. But the idea that the allegedly unpopular tax plan would likewise propel Democrats to victory this November was a fantasy.

It turns out that — unlike ObamaCare — the more people know about the GOP tax cuts, the more they like them.

ObamaCare, in contrast, was unpopular when it was passed, and was increasingly unpopular in the first two months when it took effect. (See nearby chart.)
wEDITcare022618-768x464.png
 
As sturg put it earlier. Obamas defining legislation cost Americans money while trumps put more in their pockets. Enough said.

Also, goldman just said all economic indicators are as good as it gets right now. Are we back to it being Obamas economy?
 
To Andy Borowitz point:

https://www.dailykos.com/stories/20...-spent-just-6-of-tax-scam-windfall-on-workers

While many corporations immediately launched aggressive PR campaigns crediting the tax plan Trump signed in December with new "investments" in employees, a study by the nonprofit group JUST Capital published on Wednesday found that the sensational headlines touting worker bonuses obscured the fact that the vast majority of the law's benefits have gone straight to the pockets of wealthy shareholders.

"Post-tax cut raises, bonuses, and other worker investments announced by 90 of the largest publicly-traded corporations average just six percent of the total windfall these companies have received from the biggest tax cut in U.S. history," the group found.
 
So you go out for dinner with a wealthy acquaintance. “I’ll take care of everything,” he says, and orders you a hamburger. Then he orders himself an expensive steak and a bottle of wine, which he doesn’t share. And when the waiter comes with the check, he points at you and says, “Charge it to his credit card.”

Now you understand the essence of the Trump tax cut, signed into law a little over two months ago.

https://www.nytimes.com/2018/03/01/opinion/taxpayers-scammed-republicans.html?smid=tw-share

And while many Americans own a bit of stock via their retirement accounts, even if you include these indirect holdings, more than 80 percent of stocks are owned by the wealthiest 10 percent of the population. So on the face of it, the wealthy are giving themselves a big gift, and sending the bill to the middle class.
 
you do more than anyone here.

cept maybe AA
................

because you still hold the illusion you can be like them.
Ever read Gatsby ?
 
The vast majority of the proceeds of the corporate tax cuts are going to go to stock buybacks and increased dividends. This was widely predicted and not surprising.
 
Nor is it the basis on which the tax cits were sold to the American public. Nor is it the reason it was breathlessly touted here, when every press release detailing bonuses, no matter what the provinces, was highlighted.

So, yeah, the lion's share of the benefit goes to a very narrow swath of stockholders...without a particular benefits to those companies market prospects.
 
I'm on mobile so can't reply in full.

Buybacks and dividends are both good for long term prospects of the company and give more financial flexibility to the company for larger investment down the road.

Meanwhile, many huge companies have risen pay or cut prices.

Finally, they frankly can pocket the money for their kids trust fund for all I care because it is their money
 
In another era that notion was derided as "voodoo economics" and championed as "trickle down "

The former proved more accurate than the latter
 
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