|
Trump's Sorry Tax Ploy A Flop With Conservative Economists!
|
|
Topic Started: Nov 28 2017, 08:17 PM (576 Views)
|
|
nNeo
|
Dec 23 2017, 01:18 AM
Post #41
|
|
- Posts:
- 2,849
- Group:
- Global Moderators
- Member
- #16
- Joined:
- Mar 17, 2016
|
- peewee
- Dec 23 2017, 12:30 AM
"After the bill passes "probably a trillion dollars will come back from overseas," he added. "Cumulatively over time that will accelerate growth in the American economy." Most of the bill is a train wreck, but lowering corporate rates somewhat was wise. 25% probably would have been enough. Most comparisons overlook VAT and other taxes that other countries have but we don't. 21% is lovely, however $1t of repatriation is optimistic. Look what happened, or rather what didn't happen in the "tax holiday" of 2004. Only about 1/3 t came back, and that with tax at 5%.
Certainly bringing any money back is positive, but there's currently no shortage of capital, so it's unlikely to have much stimulus effect.
|
|
“Strong people don’t need strong leaders.”
|
| |
|
The Inquisitor
|
Dec 23 2017, 01:32 AM
Post #42
|
|
- Posts:
- 10,780
- Group:
- Members
- Member
- #472
- Joined:
- Feb 25, 2017
|
- nNeo
- Dec 23 2017, 01:18 AM
- peewee
- Dec 23 2017, 12:30 AM
"After the bill passes "probably a trillion dollars will come back from overseas," he added. "Cumulatively over time that will accelerate growth in the American economy."
Most of the bill is a train wreck, but lowering corporate rates somewhat was wise. 25% probably would have been enough. Most comparisons overlook VAT and other taxes that other countries have but we don't. 21% is lovely, however $1t of repatriation is optimistic. Look what happened, or rather what didn't happen in the "tax holiday" of 2004. Only about 1/3 t came back, and that with tax at 5%. Certainly bringing any money back is positive, but there's currently no shortage of capital, so it's unlikely to have much stimulus effect. And just what would you're side of politics have done?....
|
|
Warning....Leftist's Post Here....Take Precautions
|
| |
|
nNeo
|
Dec 23 2017, 01:50 AM
Post #43
|
|
- Posts:
- 2,849
- Group:
- Global Moderators
- Member
- #16
- Joined:
- Mar 17, 2016
|
- The Inquisitor
- Dec 23 2017, 01:32 AM
And just what would you're side of politics have done?.
I don't have a 'side' in the current political landscape. I worked for one of the last people to make a serious effort to balance the budget, but no one in power seems interested in doing that now. There are various carrot/stick methods that could discourage offshoring & inversions, and encourage domestic investment. Probably a combination of targeted tax credits and regulation would be most effective. Give breaks to companies that actually create jobs in America, rather than blanketing candy in hopes that some will. Make it harder to move jobs out.
Long term, invest in US infrastructure, education & training geared to emerging and in-demand fields, R&D. Short term, there's no need for a stimulus of any kind. The economy has been growing at a sustainable rate, unemployment is fairly low. We should be paying down debt, and trying to improve wages and job quality. The details of those probably rate separate threads, but it's late. Cheers!
Edited by nNeo, Dec 23 2017, 01:55 AM.
|
|
“Strong people don’t need strong leaders.”
|
| |
|
The Inquisitor
|
Dec 23 2017, 02:51 AM
Post #44
|
|
- Posts:
- 10,780
- Group:
- Members
- Member
- #472
- Joined:
- Feb 25, 2017
|
- nNeo
- Dec 23 2017, 01:50 AM
- The Inquisitor
- Dec 23 2017, 01:32 AM
And just what would you're side of politics have done?.
I don't have a 'side' in the current political landscape. I worked for one of the last people to make a serious effort to balance the budget, but no one in power seems interested in doing that now. There are various carrot/stick methods that could discourage offshoring & inversions, and encourage domestic investment. Probably a combination of targeted tax credits and regulation would be most effective. Give breaks to companies that actually create jobs in America, rather than blanketing candy in hopes that some will. Make it harder to move jobs out. Long term, invest in US infrastructure, education & training geared to emerging and in-demand fields, R&D. Short term, there's no need for a stimulus of any kind. The economy has been growing at a sustainable rate, unemployment is fairly low. We should be paying down debt, and trying to improve wages and job quality. The details of those probably rate separate threads, but it's late. Cheers! "invest in US infrastructure"....It's next in 2018....
|
|
Warning....Leftist's Post Here....Take Precautions
|
| |
|
La Pasionaria
|
Dec 23 2017, 09:11 AM
Post #45
|
|
- Posts:
- 5,724
- Group:
- Members
- Member
- #142
- Joined:
- Mar 30, 2016
|
- The Inquisitor
- Dec 23 2017, 02:51 AM
- nNeo
- Dec 23 2017, 01:50 AM
- The Inquisitor
- Dec 23 2017, 01:32 AM
And just what would you're side of politics have done?.
I don't have a 'side' in the current political landscape. I worked for one of the last people to make a serious effort to balance the budget, but no one in power seems interested in doing that now. There are various carrot/stick methods that could discourage offshoring & inversions, and encourage domestic investment. Probably a combination of targeted tax credits and regulation would be most effective. Give breaks to companies that actually create jobs in America, rather than blanketing candy in hopes that some will. Make it harder to move jobs out. Long term, invest in US infrastructure, education & training geared to emerging and in-demand fields, R&D. Short term, there's no need for a stimulus of any kind. The economy has been growing at a sustainable rate, unemployment is fairly low. We should be paying down debt, and trying to improve wages and job quality. The details of those probably rate separate threads, but it's late. Cheers!
"invest in US infrastructure"....It's next in 2018.... The current "Tax Reform" is nothing but a giveaway to the rich.
Up next: Repeal and Reform of "Tax Reform"
Accountants are being inundated with calls https://www.bloomberg.com/news/articles/2017-12-22/wealthy-americans-are-already-trying-to-exploit-the-new-tax-law
"Republican lawmakers said they wanted to simplify the tax code so you could file your return on a postcard. It turns out the new tax law will be anything but simple for many affluent Americans, who are now inundating their accountants for advice.
“They made it a lot more complex for a lot of people,” said Jody Padar, chief executive officer of New Vision CPA Group in Mt. Prospect, Illinois."
|
|
|
| |
|
peewee
|
Dec 23 2017, 10:26 AM
Post #46
|
|
- Posts:
- 6,942
- Group:
- Members
- Member
- #218
- Joined:
- May 29, 2016
|
- La Pasionaria
- Dec 23 2017, 09:11 AM
- The Inquisitor
- Dec 23 2017, 02:51 AM
- nNeo
- Dec 23 2017, 01:50 AM
- The Inquisitor
- Dec 23 2017, 01:32 AM
And just what would you're side of politics have done?.
I don't have a 'side' in the current political landscape. I worked for one of the last people to make a serious effort to balance the budget, but no one in power seems interested in doing that now. There are various carrot/stick methods that could discourage offshoring & inversions, and encourage domestic investment. Probably a combination of targeted tax credits and regulation would be most effective. Give breaks to companies that actually create jobs in America, rather than blanketing candy in hopes that some will. Make it harder to move jobs out. Long term, invest in US infrastructure, education & training geared to emerging and in-demand fields, R&D. Short term, there's no need for a stimulus of any kind. The economy has been growing at a sustainable rate, unemployment is fairly low. We should be paying down debt, and trying to improve wages and job quality. The details of those probably rate separate threads, but it's late. Cheers!
"invest in US infrastructure"....It's next in 2018....
The current "Tax Reform" is nothing but a giveaway to the rich. Up next: Repeal and Reform of "Tax Reform" Accountants are being inundated with calls https://www.bloomberg.com/news/articles/2017-12-22/wealthy-americans-are-already-trying-to-exploit-the-new-tax-law"Republican lawmakers said they wanted to simplify the tax code so you could file your return on a postcard. It turns out the new tax law will be anything but simple for many affluent Americans, who are now inundating their accountants for advice. “They made it a lot more complex for a lot of people,” said Jody Padar, chief executive officer of New Vision CPA Group in Mt. Prospect, Illinois." Jody is complaining because she is now going to have to work harder to get client's money? I somehow think if money has to flow in a direction that the direction should be to someone who knows what to do with it than someone who doesn't.
Edited by peewee, Dec 23 2017, 10:27 AM.
|
|
|
| |
|
Robert Stout
|
Dec 23 2017, 12:26 PM
Post #47
|
|
- Posts:
- 27,174
- Group:
- Members
- Member
- #112
- Joined:
- Mar 22, 2016
|
- nNeo
- Dec 23 2017, 01:10 AM
- clone
- Dec 3 2017, 04:57 PM
One of the brightest economists of the last 40 years
LOL, perhaps you mean "an economist who might have seemed bright 40 years ago"? Sowell is a dinosaur -- still clinging desperately to supply-side, despite mountains of contrary evidence. Agreed...............
|
|
Jesus can raise the dead, but he can't fix stupid
|
| |
|
La Pasionaria
|
Dec 23 2017, 12:27 PM
Post #48
|
|
- Posts:
- 5,724
- Group:
- Members
- Member
- #142
- Joined:
- Mar 30, 2016
|
- nNeo
- Dec 23 2017, 01:50 AM
- The Inquisitor
- Dec 23 2017, 01:32 AM
And just what would you're side of politics have done?.
I don't have a 'side' in the current political landscape. I worked for one of the last people to make a serious effort to balance the budget, but no one in power seems interested in doing that now. There are various carrot/stick methods that could discourage offshoring & inversions, and encourage domestic investment. Probably a combination of targeted tax credits and regulation would be most effective. Give breaks to companies that actually create jobs in America, rather than blanketing candy in hopes that some will. Make it harder to move jobs out. Long term, invest in US infrastructure, education & training geared to emerging and in-demand fields, R&D. Short term, there's no need for a stimulus of any kind. The economy has been growing at a sustainable rate, unemployment is fairly low. We should be paying down debt, and trying to improve wages and job quality. The details of those probably rate separate threads, but it's late. Cheers! Great analysis, but I wouldn't hold out much hope that the small minded, small government conservatives will be willing to fund invest in infrastructure, education and training geared to in-demand fields, R&D, ad infinitum.
|
|
|
| |
|
La Pasionaria
|
Dec 23 2017, 08:42 PM
Post #49
|
|
- Posts:
- 5,724
- Group:
- Members
- Member
- #142
- Joined:
- Mar 30, 2016
|
- peewee
- Dec 23 2017, 10:26 AM
- La Pasionaria
- Dec 23 2017, 09:11 AM
- The Inquisitor
- Dec 23 2017, 02:51 AM
- nNeo
- Dec 23 2017, 01:50 AM
- The Inquisitor
- Dec 23 2017, 01:32 AM
And just what would you're side of politics have done?.
I don't have a 'side' in the current political landscape. I worked for one of the last people to make a serious effort to balance the budget, but no one in power seems interested in doing that now. There are various carrot/stick methods that could discourage offshoring & inversions, and encourage domestic investment. Probably a combination of targeted tax credits and regulation would be most effective. Give breaks to companies that actually create jobs in America, rather than blanketing candy in hopes that some will. Make it harder to move jobs out. Long term, invest in US infrastructure, education & training geared to emerging and in-demand fields, R&D. Short term, there's no need for a stimulus of any kind. The economy has been growing at a sustainable rate, unemployment is fairly low. We should be paying down debt, and trying to improve wages and job quality. The details of those probably rate separate threads, but it's late. Cheers!
"invest in US infrastructure"....It's next in 2018....
The current "Tax Reform" is nothing but a giveaway to the rich. Up next: Repeal and Reform of "Tax Reform" Accountants are being inundated with calls https://www.bloomberg.com/news/articles/2017-12-22/wealthy-americans-are-already-trying-to-exploit-the-new-tax-law"Republican lawmakers said they wanted to simplify the tax code so you could file your return on a postcard. It turns out the new tax law will be anything but simple for many affluent Americans, who are now inundating their accountants for advice. “They made it a lot more complex for a lot of people,” said Jody Padar, chief executive officer of New Vision CPA Group in Mt. Prospect, Illinois."
Jody is complaining because she is now going to have to work harder to get client's money? I somehow think if money has to flow in a direction that the direction should be to someone who knows what to do with it than someone who doesn't. Seems mainline conservatives are complaining too, and for good reason:
A Dessert-First Tax Bill http://bit.ly/2DfQHEW
"Now it’s time for spending restraint. Republicans have had their spoonful of sugar. Time for the medicine."
"Taking the ever-popular dessert-first approach to fiscal policy, Republicans have delivered a very large tax cut. It has some good features: It lowers the U.S. statutory corporate-tax rate, formerly one of the highest in the world, to 21 percent, more in keeping with other advanced economies; it expands the standard deduction; it raises the threshold for the estate tax, which will be of great interest to those of you with parents worth more than the previous limit of $11.2 million; it caps, though it fails to eliminate, the deduction for state and local taxes, which is both good policy and SALT in the wounds of Democrats from high-tax states such as California and New Jersey. It will also add about $1.5 trillion to the national debt. The Republicans are trying their best to ignore that. They claim, contrary to historical evidence and the views of most professional economists, that these tax cuts will pay for themselves. This is the right-wing version of the magical Keynesian stimulus multiplier — a free-lunch fantasy that we can pay for our bloated and expensive federal government by cutting taxes."
|
|
|
| |
|
nNeo
|
Dec 23 2017, 10:42 PM
Post #50
|
|
- Posts:
- 2,849
- Group:
- Global Moderators
- Member
- #16
- Joined:
- Mar 17, 2016
|
- The Inquisitor
- Dec 23 2017, 02:51 AM
"invest in US infrastructure"....It's next in 2018. From the GOP led congress who blocked it repeatedly during the Obama administration? Seems unlikely.
|
|
“Strong people don’t need strong leaders.”
|
| |
|
The Inquisitor
|
Dec 23 2017, 11:00 PM
Post #51
|
|
- Posts:
- 10,780
- Group:
- Members
- Member
- #472
- Joined:
- Feb 25, 2017
|
- nNeo
- Dec 23 2017, 10:42 PM
- The Inquisitor
- Dec 23 2017, 02:51 AM
"invest in US infrastructure"....It's next in 2018.
From the GOP led congress who blocked it repeatedly during the Obama administration? Seems unlikely. You may not have noticed....But things change....How about we wait and see?....
|
|
Warning....Leftist's Post Here....Take Precautions
|
| |
|
peewee
|
Dec 23 2017, 11:25 PM
Post #52
|
|
- Posts:
- 6,942
- Group:
- Members
- Member
- #218
- Joined:
- May 29, 2016
|
- nNeo
- Dec 23 2017, 10:42 PM
- The Inquisitor
- Dec 23 2017, 02:51 AM
"invest in US infrastructure"....It's next in 2018.
From the GOP led congress who blocked it repeatedly during the Obama administration? Seems unlikely. It did not seem likely to most that Beg Red would now be our president either. In your mind, after that event, why would anything seem unlikely going forward.
|
|
|
| |
|
La Pasionaria
|
Dec 26 2017, 10:15 PM
Post #53
|
|
- Posts:
- 5,724
- Group:
- Members
- Member
- #142
- Joined:
- Mar 30, 2016
|
- The Inquisitor
- Dec 23 2017, 11:00 PM
- nNeo
- Dec 23 2017, 10:42 PM
- The Inquisitor
- Dec 23 2017, 02:51 AM
"invest in US infrastructure"....It's next in 2018.
From the GOP led congress who blocked it repeatedly during the Obama administration? Seems unlikely.
You may not have noticed....But things change....How about we wait and see?.... Yup, let's wait and see if this really pays for itself........NOT!!!!!!
|
|
|
| |
|
La Pasionaria
|
Dec 26 2017, 10:25 PM
Post #54
|
|
- Posts:
- 5,724
- Group:
- Members
- Member
- #142
- Joined:
- Mar 30, 2016
|
- Robert Stout
- Dec 23 2017, 12:26 PM
- nNeo
- Dec 23 2017, 01:10 AM
- clone
- Dec 3 2017, 04:57 PM
One of the brightest economists of the last 40 years
LOL, perhaps you mean "an economist who might have seemed bright 40 years ago"? Sowell is a dinosaur -- still clinging desperately to supply-side, despite mountains of contrary evidence.
Agreed............... Trickle Down? Not Now, and Not for a While at Best (Wonkish) https://nyti.ms/2DERyiK
"“You all just got a lot richer,” Trump reportedly told guests at Mar-a-Lago. But Republicans will nonetheless keep insisting that the corporate tax cut that is the main item in the tax bill is really for the benefit of workers. They will be aided in this claim by some recent corporate announcements of bonuses or wage hikes that they attribute to the tax cut.
It’s nonsense, of course. Think of the motivation: lots of companies are raising wages at least a bit in the face of tight labor markets; pretending that it’s because of the tax cut is a cheap way to curry favor with an administration that has no hesitation about using regulatory and antitrust decisions to reward friends and punish enemies. It’s basically Carrier all over: make a Trump-friendly splash by declaring that he persuaded you to save jobs, then lay off lots of workers after the cameras have moved on."
|
|
|
| |
|
Robert Stout
|
Dec 26 2017, 10:57 PM
Post #55
|
|
- Posts:
- 27,174
- Group:
- Members
- Member
- #112
- Joined:
- Mar 22, 2016
|
- La Pasionaria
- Dec 26 2017, 10:25 PM
- Robert Stout
- Dec 23 2017, 12:26 PM
- nNeo
- Dec 23 2017, 01:10 AM
- clone
- Dec 3 2017, 04:57 PM
One of the brightest economists of the last 40 years
LOL, perhaps you mean "an economist who might have seemed bright 40 years ago"? Sowell is a dinosaur -- still clinging desperately to supply-side, despite mountains of contrary evidence.
Agreed...............
Trickle Down? Not Now, and Not for a While at Best (Wonkish) https://nyti.ms/2DERyiK"“You all just got a lot richer,” Trump reportedly told guests at Mar-a-Lago. But Republicans will nonetheless keep insisting that the corporate tax cut that is the main item in the tax bill is really for the benefit of workers. They will be aided in this claim by some recent corporate announcements of bonuses or wage hikes that they attribute to the tax cut. It’s nonsense, of course. Think of the motivation: lots of companies are raising wages at least a bit in the face of tight labor markets; pretending that it’s because of the tax cut is a cheap way to curry favor with an administration that has no hesitation about using regulatory and antitrust decisions to reward friends and punish enemies. It’s basically Carrier all over: make a Trump-friendly splash by declaring that he persuaded you to save jobs, then lay off lots of workers after the cameras have moved on." In summary, more Americans have jobs...The labor force will continue to grow...Fewer people will waste their time reading your posts............
|
|
Jesus can raise the dead, but he can't fix stupid
|
| |
|
La Pasionaria
|
Dec 28 2017, 04:23 PM
Post #56
|
|
- Posts:
- 5,724
- Group:
- Members
- Member
- #142
- Joined:
- Mar 30, 2016
|
- Robert Stout
- Dec 26 2017, 10:57 PM
- La Pasionaria
- Dec 26 2017, 10:25 PM
- Robert Stout
- Dec 23 2017, 12:26 PM
- nNeo
- Dec 23 2017, 01:10 AM
- clone
- Dec 3 2017, 04:57 PM
One of the brightest economists of the last 40 years
LOL, perhaps you mean "an economist who might have seemed bright 40 years ago"? Sowell is a dinosaur -- still clinging desperately to supply-side, despite mountains of contrary evidence.
Agreed...............
Trickle Down? Not Now, and Not for a While at Best (Wonkish) https://nyti.ms/2DERyiK"“You all just got a lot richer,” Trump reportedly told guests at Mar-a-Lago. But Republicans will nonetheless keep insisting that the corporate tax cut that is the main item in the tax bill is really for the benefit of workers. They will be aided in this claim by some recent corporate announcements of bonuses or wage hikes that they attribute to the tax cut. It’s nonsense, of course. Think of the motivation: lots of companies are raising wages at least a bit in the face of tight labor markets; pretending that it’s because of the tax cut is a cheap way to curry favor with an administration that has no hesitation about using regulatory and antitrust decisions to reward friends and punish enemies. It’s basically Carrier all over: make a Trump-friendly splash by declaring that he persuaded you to save jobs, then lay off lots of workers after the cameras have moved on."
In summary, more Americans have jobs...The labor force will continue to grow...Fewer people will waste their time reading your posts............ The new law may not be constitutional!:
New York governor questions the constitutionality of federal tax overhaul https://reut.rs/2loLZge
|
|
|
| |
| 1 user reading this topic (1 Guest and 0 Anonymous)
|