trumps tax plan

[saxitoxin]

why did trump raise the debt ceiling????

<sigh> Congress is the branch that raises the debt ceiling, not the executive branch.

Yes, but trump campaigned saying he wouldn't raise the debt ceiling, and that he would prioritize reducing the federal debt.

And democracy requires compromise, even when you are 100 percent right. This is hard to explain [to mookiemcgee] sometimes.

https://www.politico.com/story/2016/05/ ... ipt-222931

[patches70]

If he want's to attribute that debt to Obama, it seems only reasonable for the sake of my exchange with him that I do the same.

Fighting fire with fire doesn't work so well with stupid. It just makes you look as stupid as him....

[patches70]

For those who automatically assume that the tax bill only helps the rich, Goldman Sachs, our favorite rogue investment bank, expects to take a $5 billion tax hit from the new legislation-
http://www.dailymail.co.uk/news/article ... aul-4Q.htm

In fact, Goldman Sachs being Goldman Sachs went ahead and paid out their bonuses to top executive early to avoid the tax hit, to the tune of $100 million in bonuses-
http://archive.is/erndr

Now this next bit should be interesting to you Trump haters who automatically deride the tax bill because your favorite propaganda site told you to.
Previously, before this tax bill, executives could deduct only up to a million in base pay. That was the cap. For bonuses however, there was no cap. This new tax bill keeps the cap for the base pay and also applies it to the performance based pay and capped those deductions at a million as well.
Under the Obama administration those deduction caps on bonuses didn't apply. Under Trump they now will.

Hence, the reason Goldman Sachs paid out their bonuses early. Now Goldman will be able to deduct the entire $100 million in bonuses as a cost to the company and save on the taxes. If they'd have waited they'd only have been able to deduct $1 million per executive bonus. That's a huge tax savings for them. Even with that particular tax break (which is them taking advantage of the previous tax system under the Obama administration), their tax bill is still going to be $5 billion bigger under Trump than under Obama.

By you speaking out against the new tax bill you are actually arguing for these big corporation executives and companies to pay less taxes.

Even with the slightly lower corporate tax rate, the deductions that were gotten rid of makes up for that reduced rate. Certainly in the case of Goldman Sachs, which you should all know, are experts on avoiding taxes (usually legally).

It makes me chuckle a little bit that Goldman Sachs has to pay more taxes, I despise that particular firm for the real shady stuff they've done in the past and continue to do. They and Obama were good buddies. Goldman and Trump, not as much. They can afford it though, and if it bothers you that Goldman Sachs has to pay more taxes, fear not, they'll recoup those costs by murdering some more muppets.

[Dukasaur]

It makes me chuckle a little bit that Goldman Sachs has to pay more taxes, I despise that particular firm for the real shady stuff they've done in the past and continue to do. They and Obama were good buddies. Goldman and Trump, not as much. They can afford it though, and if it bothers you that Goldman Sachs has to pay more taxes, fear not, they'll recoup those costs by murdering some more muppets.

The Muppets are now owned by Disney. Even Goldman Sachs won't dare to f*ck with Disney!

[tzor]

Also Obama saved your goddamn ass during the recession.

And gave me the goddamn bill. Meanwhile my goddamn ass is running around with some stupid ogre and ... oh never mind.

Would you read Forbes ... Economically, Could Obama Be America's Worst President?

The right measure and comparison for Obama’s record is not to compare the recovery to the recession, but to compare Obama’s recovery with other recoveries from other recessions since the Great Depression. By that measure, what is clear is that Obamanomics has produced the worst recovery from a recession since the Great Depression, worse than what every other President who has faced a recession has achieved since the Great Depression.

This utterly failed jobs record of Obamanomics reflects the more basic reality that the economy has not been growing under President Obama. In the 10 post depression recessions before President Obama, the economy recovered the lost GDP during the recession within an average of 4.5 quarters after the recession started. But it took Obama’s recovery 16 quarters, or 4 years, to reach that point. Today, 21 quarters, or 5 plus years, after the recession started, the economy (real GDP) has grown just 3.2% above where it was when the recession started. By sharp contrast, at this point in the Reagan recovery, the economy had boomed by 18.6%, almost one fifth.

So my ass may be doing just fine but my wallet went on the diet my waist is supposed to have.

[Bernie Sanders]

Did you forget who was in office before President Obama, when the economy went into a tailspin?

Oh how the facts don't matter to those knuckle draggers who support Trump the Liar in Chief.

[Jdsizzleslice]

Did you forget who was in office before President Obama, when the economy went into a tailspin?

Oh how the facts don't matter to those knuckle draggers who support Trump the Liar in Chief.

[Bernie Sanders]

Did you forget who was in office before President Obama, when the economy went into a tailspin?

Oh how the facts don't matter to those knuckle draggers who support Trump the Liar in Chief.

Poor ignorant cracker. Unemployment is very low, but the greed of the rich is keeping the wages stagnant.

Corporations are hoarding record high profits, the rich continue seeing double digit rises in their income.

......and here comes the Republicans to give more help to their rich contributors.

[tzor]

Did you forget who was in office before President Obama, when the economy went into a tailspin?

Would that have been Neocon George W. Bush?
Son of Neocon George H.W. Bush? The one who called Reagan's plan "Voodo Economics?"
The one who still hates Trump?
The one who had to "destroy the free market in order to save it?"
(I ain't no Democrat; I don't support the idiots who claim to be in my party just because they claim to be in my party.)

Poor ignorant cracker. Unemployment is very low, but the greed of the rich is keeping the wages stagnant.

It's not the "greed of the rich." No really, who the hell are "the rich?" You start locating these idiots and you find them in blue states supporting Democratic Candidates.

Now I significant amount of wage stagnation has been caused by two factors. The international market where nations that basically f*ck their own poor can afford workers who have less taxes to pay and thus can work for much lower wages than you need in full welfare states like here. The influx of legal and illegal labor which according to the law of supply and demand (it's like the law of gravity, not studying law only works for the roadrunner) means everyone works for less as a result.

Now one could argue that the people who push both of these factors are progressive democrats (and some progressive republicans) who have become fucking rich as a result. So perhaps in a way you are right, although in a manner that is 180 degrees from the point you wanted to make in the first place.

[saxitoxin]

Did you forget who was in office before President Obama, when the economy went into a tailspin?

That would be George Bush, the son of a prominent Hillary Clinton voter.

[Dukasaur]

Good news. In response to a plea by the Government of Quebec, President Trump - in his magnanimous wisdom and mercy - has agreed to reduce the duty on Bombardier aircraft from 300% to 292%.

http://www.cbc.ca/news/business/bombard ... -1.4458589

Maybe Trudeau can get the Aga Khan to buy one.

The ITC has ruled that Trump's punitive tariffs are illegal.

https://www.theglobeandmail.com/report-on-business/bombardier-scores-victory-as-us-agency-nixes-duties/article37748395/

The top U.S. trade agency has struck down punishing duties of nearly 300 per cent on imports of Bombardier Inc.'s C Series airliners into the United States – a surprise victory for the Canadian plane maker as attention now shifts to its plans to build the marquée aircraft in Alabama.

Bombardier shares punched up 15 per cent to $3.54 in afternoon trading on Friday on the Toronto Stock Exchange as uncertainty lifted about the C Series' prospects in the world's largest aircraft market. They last touched this level in early 2015.

The U.S. International Trade Commission (ITC) is a quasi-judicial federal agency that oversees U.S. trade actions.

It ruled on Friday that U.S. giant Boeing Co. and the country's aerospace industry were not injured or could not be injured by imports of Bombardier C Series planes. Its reasons will be released in February. The ruling, a victory for Bombardier and its government partners, is the final step in a U.S. investigation of Bombardier's 100- to 150-seat C Series following a petition by Boeing alleging that the plane benefited from massive state subsidies that allowed the airliner to be sold in the United States at less than fair value. It means duties totalling nearly 300 per cent imposed by the U.S. Department of Commerce on the C Series will be called off.

"Today's decision is a victory for innovation, competition and the rule of law," Bombardier said in a statement. "It is also a victory for U.S. airlines and the U.S. travelling public. The C Series is the most innovative and efficient new aircraft in a generation. Its development and production represents thousands of jobs in the United States, Canada and the United Kingdom."

Politically, the ruling is a blow to the Trump administration's protectionist agenda. It coincides with the sixth round of talks to renegotiate the North American free-trade agreement (NAFTA) unfolding at a Montreal hotel not far from Bombardier's headquarters. The United States is demanding changes to the pact that would tilt the deal in Washington's favour, while Canada and Mexico are fighting to preserve the continental free market.

[mookiemcgee]

Member that time all the conservatives got all up in arms in a thread because some of us said trumps tax bill was garbage and wouldn't actually lowering taxes on the middle class? They got all long winded about fundamentals of the economy instead of actually reading the bill they were defending? Member when people voted for trump because they believed he actually said true things once in a while, like when he said he'd lower taxes on the middle class? Member when trump actually raised taxes on the middle class,and ballooned the dept and did it with conservatives as the ones voting for the bill?

[warmonger1981]

Do you have any idea where these posters are from? What states they originated? I think it was the higher text states that would see an increase. This is because the president didn't feel it was fair for other states to pick up another State's burden. im not sure but i think thats why they went up. Something to do with the federal income tax credits or property taxes not being able to be written off in higher taxed states. Sort of like somebody in Alabama not having to pick up the tax deficit for a New Yorker. So they New Yorkers taxes went up.

[mookiemcgee]

Do you have any idea where these posters are from? What states they originated? I think it was the higher text states that would see an increase. This is because the president didn't feel it was fair for other states to pick up another State's burden. im not sure but i think thats why they went up. Something to do with the federal income tax credits or property taxes not being able to be written off in higher taxed states. Sort of like somebody in Alabama not having to pick up the tax deficit for a New Yorker. So they New Yorkers taxes went up.

While your understanding is somewhat correct (there is no deduction one can make in reference to state taxes thay also have to pay), the idea that an Alabaman is picking up a deficit from a New Yorker a gross misunderstanding and completely backwards even before the bill. The per person amount paid (federally) of a New York state human is $13,659. It is $5,165 per Alabaman . So really the new bill just means even more Federal tax is being paid by New York staters to make up for the welfare state that is Alabama. The numbers I used were for fiscal year 2015, so they are going to be way way way more skewed in 2018 and beyond once released.

[mookiemcgee]

You can look at many other metrics as well to confirm that Alabama was not ever and is certainly not now making up a New York shortfall:


how much the federal government spends per person in each state compared with the amount its citizens pay in federal income taxes


the percentage of each state’s residents who get “food stamps”


I could post charts like this all day and every single one is going to show Alabama in the top 10 as a state that only survives because it suckles at the teet of the federal gov't. You might notice that California the state that all conservatives love to hate, is one of only a handful that actually sends more $ to the federal gov't than it gets back. South Carolina must have some awesome people working in the federal gov't because they are making out like fucking bandits!

[mookiemcgee]

What I find really interesting is that this false trope that is blasted around in the US, that liberal bastions like New York are bleeding the federal gov't dry and conservatives places like Alabama are somehow making up the shortfall... well this is actually true in other countries like Canada. Canada would be broke as a motherfucker if Alberta wasn't propping the whole country up.

[Bernie Sanders]

Fukn RED States aka leeches!

RANKINGS SCORECARD
#46Health Care
#47Education
#38Economy
#48Opportunity
#32Infrastructure
#42Crime & Corrections
#25Fiscal Stability
#35Quality of Life

Dumb fukn crackers!

[Ignoreme]

Trumps tax plan. Just did my taxes. Got screwed my republicons again.
Keeping drinking the koolaid trump lovers.

[armati]

The federal reserve prints the money we all pay interest on, which they give to corporations the mic and other countries.

Its just a button, and voila, digits appear on a screen and cash is available.

So, why not print the money and give it to the people to pay their taxes?
or, stop collecting taxes from wage earners all together saving bazillions in government wages to figure it all out, who pays how much etc
and simply print the digits the government gives to all the corporations the mic and other governments?

Who needs taxes when we have a digital printing machine?

Heck, why not print everyone a few million and everyone becomes a millionaire? hmmmmm

[HitRed]

We actually don't need to file tax forms anymore. The IRS has so much information about you they can run the numbers and send you the bill. Our system of filling out forms is stuck in the past

[mookiemcgee]

The federal reserve prints the money we all pay interest on, which they give to corporations the mic and other countries.

Its just a button, and voila, digits appear on a screen and cash is available.

So, why not print the money and give it to the people to pay their taxes?
or, stop collecting taxes from wage earners all together saving bazillions in government wages to figure it all out, who pays how much etc
and simply print the digits the government gives to all the corporations the mic and other governments?

Who needs taxes when we have a digital printing machine?

Heck, why not print everyone a few million and everyone becomes a millionaire? hmmmmm

Ah classic Armani, ignore the actual conversation to point out that money is simply a construct of our imaginations and only gold will be useful after the apocalypse. So pay your taxes in dollars, but make the IRS give your refund in gold right? That was the point of this post? Or was it, "I haven't paid taxes since 1972, because gold standard blah blah blah."?

[armati]

monkiemcgee

You dont actually read whats posted, do you?

[Bernie Sanders]

Tax cuts to business does not create jobs.

What's a business? I know a lot of people in "small business." I know of one person who is overworking himself to death because he can't afford to pay another staffer at his recumbent bicycle store. A lot of small businesses are like that, they lack that critical level needed to get them to the next level. In fact, This Is The Happiest Small Business Owners Have Been Since 1983.

Sounds like he has a bad product or does not have a good sales pitch or he's a shitty businessman.

Blame taxes? Guess we all need a scapegoat, lol.

[notyou2]

The federal reserve prints the money we all pay interest on, which they give to corporations the mic and other countries.

Its just a button, and voila, digits appear on a screen and cash is available.

So, why not print the money and give it to the people to pay their taxes?
or, stop collecting taxes from wage earners all together saving bazillions in government wages to figure it all out, who pays how much etc
and simply print the digits the government gives to all the corporations the mic and other governments?

Who needs taxes when we have a digital printing machine?

Heck, why not print everyone a few million and everyone becomes a millionaire? hmmmmm

Why print money when they can just use a piece of plastic at a debit machine and get lots of money. DUH!

[karel]

I lost 200$ less this year vs last year but im fine with it,as I had less taxes taken out so for those that cant figure it out you all got more money on your pay checks thats even if you work