Nothing got reformed at all and this is nothing but another data point on a half century trendline of societal wealth redistribution away from we the people toward the Wall Street/donor/"job creator" class.
Your avatar implies some amount of education even if it's just being street wise. Companies of all sizes increase the tax base of the communities they are located in. They provide jobs and also are normally large or the largest charitable contributors to their communities. If that was not a true statement, states and cities would not compete for them to locate there. When very large companies like Google and Apple can't be competitive in the high tax state they are headquartered in, CA, they out source work and move operations to countries with much lower corporate tax rates and labor costs. Pretty simple really.
Can't argue with you there. It's the nature of the beast. Republicans want to starve the poor, and eat small children after boiling them in polluted water taken from their corporate partners. The intellectual disconnect to actually believe that is astonishing.
ok they passed it, so now what all is in it? are the middle class tax cuts still temporary while the tax cuts for the rich determinant? did they do away with the estate tax for the rich? anything added\removed we should know about?
republicans always want more tax cuts for the rich democrats want more tax cuts for the working class Republicans promised us this was a middle class tax cut, yet the only permanent tax cuts in this bill are the ones for the rich.. Sad!
NO, I don’t think they will. The rigth will scream about deficits. Yes, they are offset by reduction in liability. The problem is those reductions go away. The difict will increase because of the costs of the breaks being given at the top. They cover most of that deficit when the individual breaks end. Again, this is nothing but a shifting of the burden to the individual, and removing it from the top.
If they wanted them permanent, they would do that now. They aren’t, so that seems pretty obvious to me. But hey, I would gladly be wrong about that and I’ll buy you a steak dinner if they do
Or you can just go back to the last two Republican tax breaks under Bush and Reagan that greatly expanded the debt. Multiple independent bipartisan economic analyses of this bill have concluded that this tax cut like all the tax cuts in the last cannot come close to realistically generate the massive amount of growth required to pay for themselves. You have no evidence it will pay for itself. If things were my way I would pass a balanced budget amendment that requires all bills not raise the debt. You are a RINO my friend because you support a bill that raises taxes on a lot of ordinary people and borrows from China to pay for it in order to deliver massive tax cuts to big corporations and Wall Street and even has specific tax cuts for the college of Education Secretary DeVos, tax cuts for private jets, and tax cuts for rich private schools. Its just a shameless payout to the corporate interests who own your politicians and lobby and fund their elections.
They had a meeting recently shown on TV of Executives from major corporations and the question was asked if the tax cuts that favor corporations go through, how many would hire more employees at their companies; out of perhaps 50 people present, 3 possibly 4 hands went up in the room. To me that doesn't make me feel too good about the supposed tax cuts that will increase jobs. Why should we trust the government to be honest with us? When have they ever been honest with us in the past? Increasing taxes and thus tax income benefits Americans since you are basically investing in the infrastructure of America by creating jobs and at the same time investing in people as a whole to help them contribute to America. We are so far behind Europe and Asia technologically its not funny.
We are behind Asia and parts of Europe. I attribute that mainly to the lack of productivity of American workers. We are no longer hungry with a burning desire to achieve. If you look at where your tax dollars go you will see that a large portion already goes to education. Is it being squandered?
by small business, I think people mean family owned, types, not corporations... same with contractor and self employed people
most corps are looking to send as many American jobs overseas as possible, that wont change with Trumps tax plan as this does nothing to make it cost more to hire overseas, even those that hire overseas get the tax cut
No. The improvement of our US corporations ability to compete for both foreign and domestic market share is the same. Well, EPS due to stock buybacks as they were able to much more efficiently access Fed provided liquidity than their competitors with lower bond ratings. They fell through mid 2014 and have been climbing since. Well, big business and those connected to government had done very well under Obama, now it's our turn.
As are those connected to government, expand the field and they can't control everything and bottle up the economy so that they can rig it for themselves. Right now our high tax rates act as a tariff imposed on our companies making it difficult for us to compete with our trade partners who do not pay our high taxes. Our big companies can dominate the space because its a smaller space. Expand it so both customers and investors have broader choices and the smart investors will put their money in those companies investing to expand market share. Yes, the key is growing real disposable income. This isn't that kind of a taxcut because that kind of taxcut would require some Democrat votes and there are no Democrats willing to vote for that. Now the Republicans could still accomplish that, if we had 50 Republicans in the Senate willing to reduce the costs of the Federal Government, and/or to sell a sufficient amount of Federal Assets to cover the costs and we don't have 50 Republicans willing to sign on for that, so, today, this is the best we can do. Later, if we do not get the results we desire, we can take it up again, and in the intervening elections, make our will more clearly known. I have a theory that the vast majority of our elected representatives are cowards and will not fight us when we have widespread popular agreement on the approach we want them to follow, but we, as a society, are still working through that.
Obama ran up more Federal debt that both put together. THIS IS WHY AMERICANS DON’T TRUST THE MAINSTREAM MEDIA: Pick up today’s Washington Post and scan the lead story headlined “GOP Secures Senate Votes To Pass Tax Bill.” So far, so good. Then check out the first sub-head: “MOST BENEFITS FOR BUSINESSES, WEALTHY.” That’s the controlling assumption of the analysis – not “objective reporting” – that follows. The story’s lede claims the bill “bestows massive benefits on corporate America and the wealthy while delivering mixed blessings to everybody else.” Tax cuts mostly benefit the rich is the standard Democrat talking point and Post reporters Erica Werner and Damian Paletta dutifully frame their reporting in such terms. But do the wealthy get bigger tax cuts than the middle class or the poor? Depends on how the effects of the cuts are measured. The Post reporters cite a Joint Committee on Taxation analysis that, among much else, concludes “only 44 percent of taxpayers would see see their burden reduced by more than $500 in 2019 but that high earners would fare much better than the poor under the bill.” What the Post reporters don’t tell readers is that other measures of the Senate tax cut bill’s effects contradict their chosen – Democratic – narrative. To cite just one example, the Cato Institute’s Chris Edwards looked at the aggregate percentage cuts by income range. Taxpayers earning $40,000 to $50,000 annually .... 51 percent reduction. Those earning $75,000 to $100,000 ... 17 percent aggregate reduction. The wealthy? ... 5.8 percent cut for those earning $1 million or more annually. There other ways to slice and dice the effects of the Senate bill, but don’t look to the Post story for such useful information. And then journalists wonder why most Americans don’t believe them? Their disbelief is deep indeed, as seen in the recent HarvardHarris Poll, as reported by The Hill,which said “65 percent of voters believe there is a lot of fake news in the mainstream media. That number includes 80 percent of Republicans, 60 percent of independents and 53 percent of Democrats.” BTW, the online version of the Post story is no better even though there is infinitely more space to provide balance. https://pjmedia.com/instapundit/thi...-pick-up-todays-washington-post-and-scan-the/
The Cato institute is a far right-wing organization with a GOP agenda and this idea that people earning $40,000 to $50,000 will get a 50% tax cut is just crazy. There is simply no provision in the bill that is capable of doing this. Every bipartisan non-biased study shows that Trump's tax cuts mostly help the rich. If all you accept are based right-wring sources then you get a twisted view of the world. Sorry, but you aren't going to get much of a tax cut from this bill. You will see if it passes.
What are you talking about? Productivity has never been higher. Yet wages have stagnated. And a huge majority of our tax money goes to the military industrial complex.
Wages aren't the final cost of employment. If you're an employer... You're definitely paying ...basic salary/wages, workmans comp, employment taxes, utility consumption, basic supply consumption. And you're most likely paying ...health insurance, HR fees, background check fees, training fees, misc equipment fees. And if you're large enough you're probably also paying ...lawyer fees (to protect yourself from employee lawsuits), and "political correctness penalty fees" aka racist programs that target minorities with special opportunities that do you no good but keep the SJW hounds off your ass. So that employee might take home $11 an hour, but he/she is costing you $30+ an hour. You want to know the real reason wages haven't risen? Entitlement culture and sue-happy culture.
