Tax Cut Disaster

[calamity]

Tax Cut Is Better (for Companies) and Worse (for Everyone Else)

President Donald Trump and the Republicans’ tax cut is proving to be vastly more generous for corporate America, and vastly more expensive for taxpayers, than expected. Worse, the Trump Slump is erasing the bump the stock market received from the tax cuts. And evidence is mounting that the promised economic boost isn’t materializing. The administration’s signature political achievement is being eclipsed by disarray over trade, immigration and a government shutdown.

First, the headline number: $600 billion, at least. That’s how much more than expected I estimate the companies in the S&P 500 are on pace to save. It is also how much more the tax cut is likely to add to the national debt if it runs as planned for 10 years. The total savings for all of corporate America will be well into the 13 figures.

One word: Suckers


Why people who were pissed at the elite would have elected someone who is nothing but the elite beats the hell out of me. But, alas. Here we are.

I guess that explains why they went to the wall for a Yale Frat Boy judge who couldn't hold his beer or keep his hands to himself.

 

[Grokmaster]

Tax Cut Is Better (for Companies) and Worse (for Everyone Else)



One word: Suckers


Why people who were pissed at the elite would have elected someone who is nothing but the elite beats the hell out of me. But, alas. Here we are.

I guess that explains why they went to the wall for a Yale Frat Boy judge who couldn't hold his beer or keep his hands to himself.

Most "COMPANIES" are SMALL BUSINESSES...who are also our largest NON-GOVERNMENT employers....and?

 

[jnug]

Tax Cut Is Better (for Companies) and Worse (for Everyone Else)



One word: Suckers


Why people who were pissed at the elite would have elected someone who is nothing but the elite beats the hell out of me. But, alas. Here we are.

I guess that explains why they went to the wall for a Yale Frat Boy judge who couldn't hold his beer or keep his hands to himself.

Yup, $600B has been my number from the very start posted here many times. Its not even a difficult calculation.

 

[Grokmaster]

Tax revenues are at an ALLTIME HIGH.

https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762



SPENDING MUST BE CUT....PERIOD.

 

[JasperL]

Most "COMPANIES" are SMALL BUSINESSES...who are also our largest NON-GOVERNMENT employers....and?

The OP talks about companies in the S&P 500, which aren't small businesses.

 

[JasperL]

Tax revenues are at an ALLTIME HIGH.

https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762

SPENDING MUST BE CUT....PERIOD.

Shame the fiscal chicken hawks in the GOP led by the ultimate fiscal chicken hawk Paul Ryan never got around to the spending cuts. Now that the Democrats are in charge of the House, it's safe again for right wing fake budget worriers to express their fake concerns about the awful, terrible, dangerous deficits they didn't care about when taxes were cut and the GOP increased spending.

 

[Mr Person]

Why people who were pissed at the elite would have elected someone who is nothing but the elite beats the hell out of me.

Because they were lying?

 

[apdst]

The OP talks about companies in the S&P 500, which aren't small businesses.

All businesses have the same tax code applied to them.

 

[washunut]

Tax Cut Is Better (for Companies) and Worse (for Everyone Else)



One word: Suckers


Why people who were pissed at the elite would have elected someone who is nothing but the elite beats the hell out of me. But, alas. Here we are.

I guess that explains why they went to the wall for a Yale Frat Boy judge who couldn't hold his beer or keep his hands to himself.

This was written as one person's opinion piece,not a data driven analysis. Would like to see any analysis he put together as the corporate tax changes called for both domestic rate cuts,cuts in monies that would never be brought back to the U.S. under old tax law and taxes on foreign investment.

There are all sorts of things that should also be included in the +/- of the law on a 20 trillion economy.

Just another poorly reasoned article for the unwashed.

 

[Deuce]

Tax revenues are at an ALLTIME HIGH.

https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762



SPENDING MUST BE CUT....PERIOD.

In absolute, unadjusted dollars? Sure. But tax revenues grew every single year under Obama. You can change literally nothing and tax revenues will grow based on population growth alone.

 

[Deuce]

All businesses have the same tax code applied to them.

The same tax code applies to Warren Buffet as applies to a homeless man but that’s not exactly indicative of similar impacts.

 

[apdst]

The same tax code applies to Warren Buffet as applies to a homeless man but that’s not exactly indicative of similar impacts.

The homeless man doesn't pay any taxes.

 

[Deuce]

The homeless man doesn't pay any taxes.

...which is an example of what I just said, yes.

 

[calamity]

The homeless man doesn't pay any taxes.

Yes he does. :roll:

Cigarette tax
Liquor tax
Sales tax

to name three

 

[SonOfDaedalus]

SPENDING MUST BE CUT....PERIOD.

So cut spending first.

But instead, Trump increases military spending and tries to build a useless wall.

Everyone knows that cutting spending is the hard part. So do the hard part first then cut taxes. Instead Republicans cut taxes while we're running a deficit. All we're doing is paying for those tax cuts with money we're borrowing from China.

And they always claim the tax cuts will pay for themselves but then we hit another recession.

 

[apdst]

Yes he does. :roll:

Cigarette tax
Liquor tax
Sales tax

to name three

None of those are Federal income taxes. :lamo

 

[Deuce]

None of those are Federal income taxes. :lamo

You said the homeless man doesn’t pay taxes. Now you’re retroactively attempting to change what you meant. Cute.

 

[apdst]

You said the homeless man doesn’t pay taxes. Now you’re retroactively attempting to change what you meant. Cute.

It's obvious that we're discussing income taxes. That stupid libbo game went stale years ago. :lamo

 

[Deuce]

It's obvious that we're discussing income taxes. That stupid libbo game went stale years ago. :lamo

Um, no it wasn’t. The references were corporate taxes, then “the tax code,” and then your “any taxes.”

Why did you think we were ignoring literally every other tax?

 

[JasperL]

All businesses have the same tax code applied to them.

Thanks for that red herring, but it's only partially true. LLCs and partnerships are taxed differently than C corps, which are taxed different than sole proprietorships, which are taxed different than an S Corp, and companies that do business abroad face very different tax consequences for their overseas options. So, actually, they don't actually have the "same" tax code applied to them.

And the point is that one of the biggest corporations on the planet is run differently than a mom and pop.

 

[calamity]

Thanks for that red herring, but it's only partially true. LLCs and partnerships are taxed differently than C corps, which are taxed different than sole proprietorships, which are taxed different than an S Corp, and companies that do business abroad face very different tax consequences for their overseas options. So, actually, they don't actually have the "same" tax code applied to them.

And the point is that one of the biggest corporations on the planet is run differently than a mom and pop.

lol...apdst on taxes:

The homeless man doesn't pay any taxes.

 

[calamity]

None of those are Federal income taxes. :lamo

Too bad you said this then.

The homeless man doesn't pay any taxes.

 

[Bullseye]

Tax Cut Is Better (for Companies) and Worse (for Everyone Else)



One word: Suckers


Why people who were pissed at the elite would have elected someone who is nothing but the elite beats the hell out of me. But, alas. Here we are.

I guess that explains why they went to the wall for a Yale Frat Boy judge who couldn't hold his beer or keep his hands to himself.

Another word: Bull****. Wages going up, jobs going up, participation rate going up. Nearly a half million new manufacturing jobs in the last two years, a similar number in construction. More LW "who you gonna believe? Us ore your lying eyes"

 

[apdst]

Too bad you said this then.

Too bad you had to change the subject to pretend you knew what you're talking about. IN YOUR OWN THREAD. :lamo

 

[calamity]

Too bad you had to change the subject to pretend you knew what you're talking about. IN YOUR OWN THREAD. :lamo

Any—look it up.