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The Trump Tax Cut: Even Worse Than You’ve Heard

Rogue Valley

Rogue Valley

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The Trump Tax Cut: Even Worse Than You’ve Heard

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1/1/19
The 2017 tax cut has received pretty bad press, and rightly so. Its proponents made big promises about soaring investment and wages, and also assured everyone that it would pay for itself; none of that has happened. Yet coverage actually hasn’t been negative enough. The story you mostly read runs something like this: The tax cut has caused corporations to bring some money home, but they’ve used it for stock buybacks rather than to raise wages, and the boost to growth has been modest. That doesn’t sound great, but it’s still better than the reality: No money has, in fact, been brought home, and the tax cut has probably reduced national income. Indeed, at least 90 percent of Americans will end up poorer thanks to that cut. Let me explain each point in turn.

continued @ link above
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The article explains what was promised, and what actually has happened, and it's not pretty.
 
ttwtt78640 said:
We will, of course, see if Pelosi gets a bill passed to repeal it. My hunch is no, but we shall see.
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The House is only 50% of the US Legislature.
 
ttwtt78640 said:
Nope, but it does put folks on record voting for specific tax increases instead of simply saying that tax cuts for the rich sure are bad.
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Like McConnell refusing any vote on a government funding bill in the Senate on 12/21?
 
Rogue Valley said:
Like McConnell refusing any vote on a government funding bill in the Senate on 12/21?
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Yep, like that. It is nonsense like that which allows congress critters to say something and yet never have to do it.
 
ttwtt78640 said:
Nope, but it does put folks on record voting for specific tax increases instead of simply saying that tax cuts for the rich sure are bad.
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McConnel has already said he won’t bring ANY funding bill that doesn’t have Trumps approval beforehand. Therefore no, people in the senate won’t be on record voting on funding because Trumps turtle McConnel won’t let it happen.
 
Praxas said:
McConnel has already said he won’t bring ANY funding bill that doesn’t have Trumps approval beforehand. Therefore no, people in the senate won’t be on record voting on funding because Trumps turtle McConnel won’t let it happen.
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Yep, and I have objected to blocking a vote like that as well.
 
ttwtt78640 said:
Yep, like that. It is nonsense like that which allows congress critters to say something and yet never have to do it.
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Well, you're going to have another opportunity to cry to the heavens about McConnell restricting Senate voting very shortly.
 
Rogue Valley said:
Well, you're going to have another opportunity to cry to the heavens about McConnell restricting Senate voting very shortly.
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Yep, unfortunately its a common congressional "leadership" tactic.
 
Mycroft said:
Anti Trump negative coverage is never bad enough.
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You really do only look at the name of the thread and who started it. If it mentions Trump and is negative, you just have to show up and rip a loud one. You never read the thread or the link, and if you had you certainly wouldn't have even understood his most basic first point about balance sheets and the irrelevance of transfers between subsidiaries and parent companies in this context.

Do you actually think you're scoring an Internet Point when you crap out meaningless drivel that's supposed to sound like a rejection of the thread?

Do you honestly think anyone gives even one millionth of a **** about the fact that Mycroft yet again said some inane bull**** to try to derail it?

:roll:




Well, you made your noise anyway. Krugman is right. I was right. We were right. This was a stupid tax cut that simply would not and did not and will not do what Trump promised. To the extent that anyone in the middle or upper class got a little tiny piece of the action, they're going to end up paying for it many times over down the road. Meanwhile, the people who benefitted the most will pay the least for it. Thanks to all the massive patchwork of intended loopholes, unintended loopholes, cheats, and all the many things a rich person can do to avoid taxes that someone less well off cannot do, our tax system is overall pretty damn regressive.

But don't worry, I'm well aware that conservatives generally consider highly regressive tax systems to be optimal. Well, maybe they claim they don't, but the people they always end up voting for anyway do.

^
Second half for the benefit of anyone else who might actually want to talk about the tax cuts, rather than wanting to fart at people who are saying negative things about the tax cuts.
 
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tres borrachos said:
Look at that picture. He looks like a big fat toddler. My kids didn't look that stupid and petty at age 3.
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Taylor said:
My kids never looked stupid and petty.
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Before throwing a gotcha at that nature at her, you should consider the likely fact that the appearance of intelligence or maturity in a child is relative to the intelligence or maturity of the one judging the child.

Just sayin'...

:shrug:
 
Bullseye said:
It's NOT an "article" which would imply some measure of balance; it's a OPINION ( it even says that in the URL!) PIECE from one of the most extreme left wing economist being published today.
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Paul Krugman is also a Distinguished Professor at the City University of New York Graduate Center. He won the 2008 Nobel Memorial Prize in Economic Sciences for his work on international trade and economic geography.

Sure beats the hell out of Mick "The Knife" Mulvaney.
 
Mycroft said:
Anti Trump negative coverage is never bad enough.
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Nobody may question the Dear Leader!

All coverage must be positive!

Hail Trump!

Hail The Dear Leader!

Glory Be Unto His Name!

Misery Upon His Enemies!
 
Rogue Valley said:
Paul Krugman is also a Distinguished Professor at the City University of New York Graduate Center. He won the 2008 Nobel Memorial Prize in Economic Sciences for his work on international trade and economic geography.

Sure beats the hell out of Mick "The Knife" Mulvaney.
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Look up "appeal to authority" logical fallacy.
 
ttwtt78640 said:
We will, of course, see if Pelosi gets a bill passed to repeal it. My hunch is no, but we shall see.
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Repeal it? Probably not - invoke the classic loony "make rich people pay their fair share" bull****, definitely. Raise taxes on corporations - without doubt.
 
Rogue Valley said:
The House is only 50% of the US Legislature.
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But it's the half that originates budget and taxation bills. The question wasn't whether the bill would pass both houses, just whether PELOSI would take action.
 
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