It's Official: Trump Tax Cuts Are Boosting Growth And Mostly Paying For Themselves

Discussion in 'Budget & Taxes' started by MolonLabe2009, Apr 11, 2018.

  1. MolonLabe2009

    MolonLabe2009 Well-Known Member

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    Making America Great Again one step at a time.

    Thanks Trump!
    [​IMG]
     
  2. Zorro

    Zorro Well-Known Member

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    • It's Official: Trump Tax Cuts Are Boosting Growth And Mostly Paying For Themselves.
    When the Congressional Budget Office released its updated budget forecast, everyone focused on the deficit number. But buried in the report was the CBO's tacit admission that it vastly overestimated the cost of the Trump tax cuts, because it didn't account for the strong economic growth they would generate.

    Why anyone believes CBO is beyond understanding. They blow every call, the same direction, and have for decades.

    Last June, the CBO said GDP growth for 2018 would be just 2%. Now it figures growth will be 3.3% — a significant upward revision. It also boosted its forecast for 2019 from a meager 1.5% to a respectable 2.4%.

    "Underlying economic conditions have improved in some unexpected ways since June," the CBO says. Unexpected to the CBO, perhaps, but not to those of us who understood that Trump's tax cuts and deregulatory efforts would boosts growth.

    https://www.investors.com/politics/...cuts-revenues-deficits-paying-for-themselves/

     
  3. JakeStarkey

    JakeStarkey Well-Known Member

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    Good if that is true. It won't save Trump or the GOP.
     
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  4. Quantum Nerd

    Quantum Nerd Well-Known Member

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    If the tax cuts are paying for themselves, why are we on the fast track to a $1+ trillion dollar deficit?

    In any case, economic growth speculations 10 years into the future are just nonsense. The truth about the tax cuts and the deficit will be known in a few years. We'll see what will happen, but the track record from past unpaid-for tax cuts is not stellar.
     
  5. rahl

    rahl Well-Known Member

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    why are conservatives so gullible? These projections are based on a 4% GDP going forward. Trump is not coming anywhere near 4% in 2018, or 2019. And we are already well on our way to a 1$ trillion deficit.

    Remember when republicans pretended to care about debt and deficits? lol
     
  6. MissingMayor

    MissingMayor Well-Known Member

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    1) We will have a trillion dollar plus deficit THIS year.
    2) Military and other government spending raises GDP. Obviously the huge spending bill will up the GDP at the cost of the budget.
     
  7. Ddyad

    Ddyad Advisor Staff Member

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    Tax cuts are always good.
     
  8. Ddyad

    Ddyad Advisor Staff Member

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    Tax hikes are always bad.
     
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  9. zbr6

    zbr6 Banned

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    Hes making America strong and successful you guys hate him for it when you should be helping him get rid of the rot.
     
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  10. JakeStarkey

    JakeStarkey Well-Known Member

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    We the People hate Trump for his assault on the Constitution and civil liberties.
     
  11. wgabrie

    wgabrie Well-Known Member Donor

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    Party now, crash later. Who gets to pay for our current spending??? The future generations. Kick the can down the road.
     
  12. Marine1

    Marine1 Well-Known Member Past Donor

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    It will save the country, unless of course the Democrats get back in and screw it up again like Obama did. Don't know how anyone could vote Democratic today. They have nothing to offer but give aways.
     
  13. MolonLabe2009

    MolonLabe2009 Well-Known Member

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    We the People hate the left for their assault on the Constitution and civil liberties.
     
  14. JakeStarkey

    JakeStarkey Well-Known Member

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    The Alt Right and you are not We the People.
     
  15. MolonLabe2009

    MolonLabe2009 Well-Known Member

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    The Alt Left and you are not We the People.
     
  16. Revax

    Revax Well-Known Member

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    Please be more specific, especially considering your post is off topic. What specifically has Trump done to "assault the constitution and civil liberties"?
     
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  17. Bluesguy

    Bluesguy Well-Known Member Donor

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    Yes when they produced surpluses and paltry deficits like the last Republican in 2007 of just $161B. Two years later for 2009 the Democrats had it at $1,400B with their 9% spending increase and then 18% spending increase, $900B in stimulus alone, and kept it over $1,000B for the next three years never even coming close to the Republicans worst deficit. Why are you so gullible as to believe Democrats engage in better fiscal policy and deficit control?

    And you aren't going to try and claim Bush should have vetoed the Democrats 2009 budget again are you?
     
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  18. Bluesguy

    Bluesguy Well-Known Member Donor

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    Heck let's double the budget and double the deficit then and just think how great the economy will be.
     
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  19. Marine1

    Marine1 Well-Known Member Past Donor

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    Please name your assault on the Constitution and Civil Liberties.
     
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  20. Ddyad

    Ddyad Advisor Staff Member

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    I doubt that most Americans "Hate" the political parties yet, but given the high approval numbers for Trump as opposed to the Congress and the MSM it is safe to say that most Americans now have contempt for the political establishment.

    “Congress sank to a 10% approval rating in a new Quinnipiac University poll released on Thursday, with roughly five in six Americans saying they disapprove of the country's legislative body. This compares to an 18% approval rating in March.
    And if you're searching for the main reason behind the drop, look no further than Republican voters.

    Back in January and March, more than one in three Republicans said they had positive views of Congress, which is controlled by the GOP in both chambers.

    But now, that's plummeted to just 14% of Republican voters who give Congress a thumbs up.

    The new numbers come after a high-profile effort to repeal and replace Obamacare barely squeaked through the House and failed in a dramatic late-night vote in the Senate.

    Congress's overall 10% approval is the lowest for Congress in Quinnipiac's history of data back to 2003. Using Gallup data beyond that, it's the lowest for Congress in data back to 1974.” CNN, Even Republicans don't like Congress anymore, By Ryan Struyk, Thu August 3, 2017.
    http://www.cnn.com/2017/08/03/politics/republicans-congress-approval-drops/index.html
    .
     
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  21. rahl

    rahl Well-Known Member

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    yes, we have already established that the republican caused recession is responsible for the deficits in 2009
     
  22. Marine1

    Marine1 Well-Known Member Past Donor

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    Look how good the economy is now and these companies haven't even had a chance to get set up yet and hire. Can you imagine what it will be like when they do? Billions in tax dollars streaming in and millions getting off the welfare rolls, saving billions more.

    Obama Flashback: Jobs NOT Coming Back Under Trump
    https://conservativetribune.com/obama-jobs-not-back-trump
    Obama Flashback: Jobs NOT Coming Back Under Trump. ... A man named Eric Cunningham said he noticed manufacturing jobs were ... CNN Has Just Gone

    LG Electronics

    Building U.S. Factory After President Trump Criticism ...
    Fortune.com/2017/02/28/lg-electronics-us-factory/
    Feb 28, 2017 - LG rival Samsung Electronics was also considering building a U.S. Manufacturing plant as a response to criticisms about imports from Trump,

    ExxonMobil

    On March 6, CEO Darren Woods said the company is investing $20 billion in Gulf Coast manufacturing operations over 10 years, creating 45,000 jobs.

    Charter Communications

    On March 24, Charter Communications announced plans to invest $25 billion in the United States and to hire 20,000 American workers in the next four years.

    U.S. Steel: 10,000 Jobs

    Next, during a December 7 broadcast of CNBC’s Power Lunch, the CEO of U.S. Steel Mario Longhi said that after the election of Donald Trump, he has “felt an environment of positive optimism where forces are converging to provide for a better environment,” which he hopes means he can rehire up to 10,000 employees who had been laid off.

    IBM: 25,000 Jobs

    A week after U.S. Steel noted its bullish outlook on the U.S. Economy, computing giant IBM also found its outlook had brightened and reported that it expects to create up to 25,000 new jobs in the U.S.

    Hasbro
    Is to start making play-doh in the U.S. Again.
    U.S. Hasbro, Inc. Is returning to the U.S. And will make the beloved children’s modeling clay in a Massachusetts factory rather than in China or Turkey.

    Toyota and Mazda

    To build $1.6 billion factory in the U.S ...
    Money.CNN.com/2017/08/04/news/economy/Mazda-Toyota-jobs-factory...
    Aug 04, 2017 · Toyota and Mazda have announced plans to build a $1.6 billion manufacturing plant in the United States that will create as many as 4,000 jobs.

    Fiat

    Chrysler Is Moving a Plant From Mexico to Michigan ...
    Fortune.com/2018/01/12/fiat-Chrysler-Michigan-Mexico-nafta
    Fiat Chrysler said it will shift Ram pickup truck production from Mexico to Michigan, lowering risk if President Trump pulls out of NAFTA.

    Apple

    Creates 2,000 jobs shifting production back to US ...
    https://www.theguardian.com/technology/2013/nov/05/apple-creates...
    Apple creates 2,000 jobs shifting production back to US ... Engineering and construction jobs at a new plant in ... The first Macintosh computer made in America since ...

    Bayer AG (ADR)

    Bayer representatives announced that as part of their purchase of Monsanto, they were committing to keeping Monsanto’s 9,000 U.S. Jobs in the country, plus adding 3,000 new high-tech jobs for American workers.

    Ford Motor Company (NYSE:F)

    Ford Motor Company had been planning to build a $1.6 billion factory in Mexico.
    Instead, the company announced it was cancelling the Mexican car factory and added that it would invest $700 million to expand its Flat Rock Michigan factory. The money will go toward manufacturing high-tech electric, hybrid and autonomous cars and adds 700 U.S. Jobs.

    Hyundai Motor Co

    The South Korean auto maker announced it will boost its spending in the U.S. By 50% over planned levels, spending $3.1 billion over the next five years.

    That money will go to retooling Hyundai’s existing U.S. Factories and research into high-tech systems such as autonomous vehicles. Hyundai said it is also considering building a new factory specifically to build premium vehicles for the U.S. Market.

    The company didn’t give specific number for job creation, but with that kind of expenditure — and the possibility of a new factory — it’s definitely going to be more jobs for American workers.

    It's Chinese-made in America.

    "My production cost per ton of textiles is 25 percent lower [there]."

    In addition, he said, wages for him in China have been increasing 30 percent each year for much of the past decade. He has pledged $220 million to build and expand a facility in South Carolina and plans to eventually move the entire business to the U.S. Where he plans to employ more than 500 people by the end of the year.

    https://finance.yahoo.com/news/apos-made-china-apos-could-042148976.html



    Intel, in Show of Support for Trump, Announces Factory in Arizona
    https://www.nytimes.com/.../trump-intel-chip-factory-arizona.html
    Feb 08, 2017 · “The people of Arizona will be very happy. It’s a lot of jobs,” President Trump said after
     
  23. rahl

    rahl Well-Known Member

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    lol, democrats are always having to clean up the **** show republicans turn the economy into. Obama was handed the worst recession in 80 years. He took UE from over 10% to under 5%. Doubled the stock market to record highs, and had the most consecutive months of jobs growth of any other US president in US history.

    Claiming Obama was a screw up just makes you look silly.
     
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  24. Marine1

    Marine1 Well-Known Member Past Donor

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    You have established no such thing. The recession was caused by the housing fiasco and the Democrats were up to their necks in that also. Don't try and pin that all on the Republicans
     
  25. rahl

    rahl Well-Known Member

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    Sorry, republicans owned congress and the white house from 2001-2008, and held the white house until January 2009. it's all on republicans.
     
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