Trumps Tax bill looks like it will happen

[Supersteeler]

This cannot be true. I have it on good authority from hysterical Liberals that evil corporations are going to pocket 100% of their tax break money and will give nothing to the "little people" they employ. It's....just...Unpossible!

 

[ark steel]

Find the video of the disney heiress who seems upset that she will be getting a HUGE tax cut.

I didnt watch the whole video to see if, at the end, she is planning to write a check to the government for the amount.

 

[Superman]

since the person posting this is 100% AntiTrump, I know this is a good thing.

---

 

[ZonaBurgh]

I am not a corporation, which is what the discussion was about. Cutting taxes is fiscally irresponsible given both massive deficits and debt. Conservatives used to understand that before they were taken over by a bunch of spiteful dipshits.

Cuz the left never produces massive deficits.

Well all I know is that it looks like I'll get to keep about $3,500 of MY money because of it, and will let me decide what to do with it.

Condemn all you want, but I think it's a good thing people will have more in their pockets, and if that bothers you, there's always that extra check option for you.

 

[BLITZ]

obviously this helps most of the working class in most states. I have a lib "friend" that is saying that this will destroy the retired community. I can find nothing to prove or disprove this. cant understand why it would destroy the retired
. anyone know what he is talking about?

 

[oneforthebus]

Why do so many dumb people think trickle down economics doesn't work? Of course it works. It's ludicrous to think it doesn't. When people have more money, they buy more stuff. They buy new homes or second homes or do home renovations. They buy new cars and boats and go out more and buy more consumer goods. This creates more demand for goods and services which in turn creates demand for workers which in turn creates higher wages.

Contrast that with higher taxes which does what exactly? Right off the bat a large chunk goes just to pay for layers of bureaucracy. It makes people feel better to sock it to rich people I guess. But tax cuts are money that go directly into the economy. To say that it "doesn't work" is just dumb.

 

[Supersteeler]

obviously this helps most of the working class in most states. I have a lib "friend" that is saying that this will destroy the retired community. I can find nothing to prove or disprove this. cant understand why it would destroy the retired
. anyone know what he is talking about?

Judging from the CNN message boards, that's the new talking point because people are able to calculate their savings under the bill now so they had to drop the "only the rich will benefit!!!" tactic. Suddenly it became, "They are taking away Grandma's social security and she's going to be thrown out in the street to die!!!!!!!" and "Our future generation is going to be left with a massive debt to pay off because of Trump's greeeeeed!!!!!!!"

It will become something else as soon as those are debunked.

 

[IndySteel]

Yup, the socialists are ******.

Sen. Joe Manchin, D-W.Va., on Wednesday struggled to explain his opposition to the Republican tax overhaul, conceding in a local radio interview that it contains “some good things” that could benefit his state.

The $1.5 trillion package that cleared Congress along party lines on Wednesday is broadly unpopular, according to the polls, and could still cause headaches for Republicans in 2019. But Manchin is running for re-election in a red state where President Trump won overwhelmingly and remains popular, making the Democrat's opposition to the bill problematic.

“There’s some good in this bill. I acknowledge that,” Manchin said, when West Virginia radio talk show host Hoppy Kercheval asked the senator why he opposed legislation that will benefit the “vast majority” of taxpayers and businesses in the state.

“The things that you mention are correct. Initially people will benefit and see some changes in their taxes,” Manchin admitted.

 

[bmoritz]

https://ijr.com/the-declaration/201...ge-15-dropping-13-5m-bonuses-thanks-tax-bill/

Fifth Third Bancorp on Wednesday announced a plan to “raise its minimum hourly wage for all employees to $15, and distribute a one-time bonus of $1,000 for more than 13,500 employees” after the passage of the GOP tax bill, CNBC reported.

Fifth Third said that the tax cuts resulting from the GOP tax bill backed by President Donald Trump will allow it to pass on the benefits to employees.

Fifth Third ... said the tax cut allowed it to re-evaluate its employee pay and pass along some of the windfall. Nearly 3,000 workers will see hourly wages rise to $15. The $1,000 one-time bonus is expected to be paid by the end of this year, the bank said, assuming President Trump signs it by Christmas.

Senior managers and top executives are excluded from the special payments. “It is good for our communities, employees and Fifth Third Bank,” said CEO Greg Carmichael in a statement.

Fifth Third is the latest of several companies to react favorably to the GOP tax reform bill.

AT&T announced on Wednesday that the company would pay 200,000 employees $1,000 each and up its capital spending by $1 billion. Further, Boeing announced it would spend $300 million in additional employee-related and charitable investment as a result of the tax reform bill.

President Trump on Wednesday predicted that other businesses would follow these companies' lead and the positive economic impact of tax reform would be clear.

This is fantastic! THIS is the way competition is supposed to work. Don't have the government interfere and dictate a minimum wage, which hurts EVERYBODY. Allow companies the freedom to rates wages to what the can/want. Very smart move by Fifth Third Bank, as they will now be able to attract the best banking employees!

 

[Steeltime]

Moving out of California and to Arizona means wife and I get a tax reduction.

Staying in Taxifornia would mean a tax increase.

 

[ark steel]

How many at those banks are making less than $15/hour?

 

[Superman]

probably the part-time tellers.

 

[ark steel]

Durbin told me that economists know trickle down doesnt work.

Ive seen multiple posts on facebook saying that, too. So, you KNOW it is true.

 

[IndySteel]

Durbin told me that economists know trickle down doesnt work.

Ive seen multiple posts on facebook saying that, too. So, you KNOW it is true.

I think it's going to be pissing like a racehorse instead of trickling down.

 

[Spike]

THE SOUTH WILL RISE AGAIN


Population shifts show Sun Belt poised to gain in Congress

Sun Belt states are likely to gain seats and influence in Congress after the next U.S. Census, according to yearly population growth estimates released this week.

The Texas delegation stands to gain three seats after the 2020 Census, bringing its total to 39.

Florida has grown fast enough to earn two new seats, growing its delegation to 29 members. That would make Florida's delegation the third-largest in the House, surpassing New York for the first time.

http://thehill.com/homenews/state-w...ifts-show-sun-belt-poised-to-gain-in-congress

 

[Spike]

HISTORIC!



President Donald Trump Signs Historic Tax Cut Bill into Law

 

[deljzc]

If they can extend the debt ceiling without caving in on DACA we are in for a good January to March.

Sounds like tax bill signed before Christmas.
January is bullshit appropriations and money stuff Congress has to do every January (but expect a LOT of federal agencies funded by discretionary moneys to go down a lot). You might also see Trump reintroduce his plans to fund more wall and fund infrastructure improvements.
February will be Immigration reform with the DACA deadline currently March 1st.

That will be more difficult because I'm not sure they can avoid a filibuster in the Senate on the immigration law. But there will be leverage with the DACA deadline so maybe something win-win is there for Congress to get done.

And I still think next summer (around July) they will revisit Obamacare now that the mandates are gone as part of the tax bill. That changes the "political mumbo-jumbo talk" about that law without the mandates.

Hopefully the dog and pony witch hunt that is Mueller and his team don't **** things up. Because a lot of progress can be made to this country if we just let them get it done and the media wasn't "Sky is Falling" every other ******* day.

Looks like I was correct. Extended debt ceiling and paying for a lot of things Trump wanted without caving on DACA.

More winning. Here comes major immigration reform!

 

[Troglodyte]

A year later and the Dow is down for the year and in free fall. Trickle down.

 

[IndySteel]

A year later and the Dow is down for the year and in free fall. Trickle down.

Dumbass, the Fed raised interest rates 4 times this year. They are trying to dampen the overwhelming success of the tax cuts. If they had just left it alone the markets would still be rolling.

 

[Troglodyte]

Dumbass, the Fed raised interest rates 4 times this year. They are trying to dampen the overwhelming success of the tax cuts. If they had just left it alone the markets would still be rolling.

A truly strong economy isn’t deterred by interest rate hikes. This sell-off is the market telling the Fed they weren’t bluffing about their concerns.

 

[ark steel]

A truly strong economy isn’t deterred by interest rate hikes. This sell-off is the market telling the Fed they weren’t bluffing about their concerns.

Isn't the main purpose of interest rate hikes to keep the economy under some type of control while heading off inflation?

 

[Buster]

How many at those banks are making less than $15/hour?

According to the article, more than 3000 at Fifth Third.

 

[Superman]

A truly strong economy isn’t deterred by interest rate hikes. This sell-off is the market telling the Fed they weren’t bluffing about their concerns.

do interest rates effect you, Flogomanbun?

let's use a hypothetical. if you were going to buy a car, but didn't really need one, just wanted a new one, and were faced with an interest rate of 30%, would you purchase your new car? even though you were doing well at your job and were making money? if not, why not? if so, why?

 

[oneforthebus]

A year later and the Dow is down for the year and in free fall. Trickle down.

3.5% GDP growth last quarter, near full employment and the first meaningful wage growth in years. Yeah, it works. Unfortunately there are a lot of other factors involved in the stock market jitters. It's not the tax cuts causing them, that's for damn sure.

 

[Troglodyte]

do interest rates effect you, Flogomanbun?

let's use a hypothetical. if you were going to buy a car, but didn't really need one, just wanted a new one, and were faced with an interest rate of 30%, would you purchase your new car? even though you were doing well at your job and were making money? if not, why not? if so, why?

No, I saw the interest rate hikes coming and locked into a rate on my home equity several months ago. But don’t you worry, the people who benefit most from the Trump tax cuts and can afford to pay cash for everything will make the economic benefit trickle down to you... amirite?