Tax Cut Benefit

[showa58taro]

http://uk.businessinsider.com/trump-gop ... ?r=US&IR=T

So far, share but backs and bonuses are back with a vengeance, but actual CapEx, wages, hiring and the overall investments have not materialized at all. This tax cut has done sweet FA to most macroeconomic indicators.

That would arguably be fine if it had no policy impact but it does.

Further the latest data shows that the top 1000 companies (thousand!) have added 79,000 jobs whilst also cutting 140,000 jobs in the US. In other words by every measure the point of the tax cut has ended up a lie or an irrelevance and will be starting to impact the deficit which exploded in October. It’s almost like cutting receipts and taxes owed without increasing the tax base has a negative impact on the overall health of the economy.

But look at that GDP! The stock market!

https://www.nzherald.co.nz/business/new ... d=12160135

That also is not going to be a constant upwards trajectory and the bad signs are there. These bad signs are made way worse though by Trumps approach to regulation. Removing safeguards makes things less safe. That’s just a fact at this point.

Economics by idiots is not a great way to govern.

[Foo]

And yet:

https://www.cnsnews.com/news/article/te ... 0b-deficit

Gosh, you think the problem might be spending...

[showa58taro]

And yet:

https://www.cnsnews.com/news/article/te ... 0b-deficit

Gosh, you think the problem might be spending...

Think the problem is pretty obviously spending money you don’t have on things you don’t need ehikstvshrinking thrvtax base sndcreducing collections.

[Reign in Blood]

And yet:

https://www.cnsnews.com/news/article/te ... 0b-deficit

Gosh, you think the problem might be spending...

Think the problem is pretty obviously spending money you don’t have on things you don’t need ehikstvshrinking thrvtax base sndcreducing collections.

What is this...

[showa58taro]

And yet:

https://www.cnsnews.com/news/article/te ... 0b-deficit

Gosh, you think the problem might be spending...

Think the problem is pretty obviously spending money you don’t have on things you don’t need whilst shrinking the tax base and collections.

What is this...

Fixed.

In other words, your deficit continuing to sky-rocket whilst you slash taxes to reduce the tax base (despite collections being up, your expenses are also up since you're spending billions subsizidizing farmers, paying out costs to deal with the impact of Climate Change, increasing military spending, and your population continues to age into retirement). The tax cut has failed and failed hard to create any significant improvement in the US short of the corporations to whom the biggest benefits fell being able to increase their share price (and thus inflate the stock market) through buy backs which in turn can yield bonuses.

With more jobs being lost than made, and with those being part of the employment pool shrinking to create the lower unemployment rates, you are on a path towards a recession, quite possibly as early as 2020 (good luck getting re-elected) because of the bad fiscal choices you are making. The Republicans are not deficit hawks anymore since they increased the deficit massively and unsustainably, whilst also simply cutting cheques for the big companies. What you'd really want to see is, if you were a true Republican, tax cuts that actually benefits the lower and middle-classes and try and help the working class who keep voting for you. Because sooner or later the scare of "DEMON-crats" just won't get you votes. That much was clear this mid-term. #Bluenami

You won't get anywhere trying to remove Medicare and Medicaid in some kind of "fuck the poor" policy and stay in power. And you can't cut military spending because that's who pays for your campaigns, so you get stuck in this exact situation, untenable deficits paired with bad tax policy and unsustainable economic markers.

[Tiggnutz]

Well neither party can stop spending money so.....

[Foo]

Bush and Obama, an establishment Republican and an Establishment Democrat, ran up a debt so high we have to make deep cuts to recover from. Obama managed to do it while at the same time not spending on keeping the military current, which is actually amazing ineptitude.

Trump inherited this. He is calling for spending cuts. We will see.

https://www.nytimes.com/2018/09/25/busi ... erest.html

[showa58taro]

Bush and Obama, an establishment Republican and an Establishment Democrat, ran up a debt so high we have to make deep cuts to recover from. Obama managed to do it while at the same time not spending on keeping the military current, which is actually amazing ineptitude.

Trump inherited this. He is calling for spending cuts. We will see.

https://www.nytimes.com/2018/09/25/busi ... erest.html

Not the same at all given the economy Obama inherited.

[Reign in Blood]

Bush and Obama, an establishment Republican and an Establishment Democrat, ran up a debt so high we have to make deep cuts to recover from. Obama managed to do it while at the same time not spending on keeping the military current, which is actually amazing ineptitude.

Trump inherited this. He is calling for spending cuts. We will see.

https://www.nytimes.com/2018/09/25/busi ... erest.html

Not the same at all given the economy Obama inherited.

Man, I miss playing "Hot Potato" as a kid.

[showa58taro]

Bush and Obama, an establishment Republican and an Establishment Democrat, ran up a debt so high we have to make deep cuts to recover from. Obama managed to do it while at the same time not spending on keeping the military current, which is actually amazing ineptitude.

Trump inherited this. He is calling for spending cuts. We will see.

https://www.nytimes.com/2018/09/25/busi ... erest.html

Not the same at all given the economy Obama inherited.

Man, I miss playing "Hot Potato" as a kid.

Yup. But still relevant. At some point there is a reckoning to be had regarding the timing and therefore the priority.

[showa58taro]

Guess the reckoning is in. The hashtag #TaxScam trending following significant decrease in tax rebates and an increase in taxes owed by individuals as the benefit has completely disappeared from view. More people owe more and fewer are able to repay what they owe. 30m or so owing money.

Sad