[MAGA] President Trump proposes massive tax/regulatory cuts

Multinationals are the ones pushing for more regulation (over-regulation) to keep competitors out.

 

How did you get your college degree in chemistry?

 

Oversimplified. I work in an industry where it is the multinationals that push for deregulation. I'm sure our economy is dotted with other examples. Some companies can find advantage by making compliance hard, others find advantage by making it easy.

But, it seems far afield anyway. Even if I grant that multinationals mostly lobby policymakers to over-regulate, does that mean we're over-regulated?

 

He probably didn't. Has anyone tested him on something very basic like redox reactions? Or some basic stoichiometry?

 

clearly he means anything that his party opposes is over-regulation. Especially if it's meant to protect people living in urban areas aka liberals.

If something helps the white rural voters, it's good regulation though.

 

Well now that Insurance companies are now free, watch rates go up and coverage go down...

DD

 

I, for one, am very thankful for his decision, primarily due to the DOL fiduciary rule being nothing about helping out the average investor or the small business owner. It was all about big banks & Financial Institutions being the only ones who apparently knew what was good for the investor. (New regs stated all firms had to have written 1.5 Billion in assets over the past 3 years and keep 150 million in reserves at all times.) As someone who opened my firm a little over a year ago, this regulation would have caused all of us smaller firms to essentially either merge as employees to a bigger firm or sell the business outright.

As a business owner, I'm very excited about the new administration possibly killing this poison pill of new regulation.

 

Starving means sacrifice. The tax cuts will print another 4-5 trillion of debt over the course of 8 years from the Party of Fiscal Responsibility.

 

I wonder how he decided that it should be 2 for 1....

 

They are coming for your retirement money and water.

You guys are going to lose your jobs man. Honestly, it's going to be so f'in bad.

 

Gee, in this new era of no Net Neutrality, deregulation is leading to consumer benefits via increased competition from a free market:

Comcast and Charter agree not to compete against each other in wireless

But wait! What about antitrust laws... aren't we protected from things like this?

Ah, but you forget, we are now in a new era...

Thanks Trump!

https://arstechnica.com/information...ot-to-compete-against-each-other-in-wireless/

 

This is part of the swamp drainage campaign.

 

Blast radius of 2013 Texas fertilizer plant deregulated by Governor Goodhair...

Business will be booming.

 

You have to be the most race driven person I have ever seen. It is truly sad how racist you are. We will never have a truly colorblind society with people like you who are eat up with race in this world.

 

Why because I state the truth and you choose to bury your head in the sand?

How can you deny that Republicans were against needle distribution programs when aids devastated blacks but now that it's whites they have changed their tune and are for them.

You can run away from facts, but it is the party you support that engages in race politics. You call me a racist for pointing racism out. Pathetic. We don't have a colorblind society because people like you are blind to racism. You ignorant F

 

Priming the Pump: The Economic Metaphor Trump ‘Came Up With’

President Trump recently sat for a long interview with The Economist magazine in which he discussed his economic agenda. One exchange was particularly attention-grabbing for anyone who could remember high school history, or who paid vague attention to the debates over stimulus during the last recession.

Explaining why he seeks tax cuts even if they risk expanding the budget deficit, President Trump said that they might increase the deficit temporarily, but that “we have to prime the pump.”

“Have you heard that expression before, for this type of event?” the president said.

Yes, the interviewer — who, again, is an editor of The Economist — confirmed.

“Have you heard that expression used before? Because I haven’t heard it. I mean, I just … I came up with it a couple of days ago and thought it was good.”

Hoo boy. Let’s unpack this.

What is Mr. Trump talking about?

“Priming the pump” is a common metaphor for using government tax and spending to try to boost the economy into a higher level of functioning.


The origin of the metaphor refers to pumps used to extract water from wells, which were more widespread before most people had indoor plumbing. The details might vary, but the basic idea was to pour a bit of water into a mechanism to make it possible to pump more water out. Here’s a video!


The economics metaphor is that the government might increase economic growth by pumping a little extra cash into the system, perhaps by spending money on jobs programs, or, to use Mr. Trump’s preferred policy, cutting taxes. The hope is that the economy then takes off on its own, just as adding a little water to a pump enables water to flow freely.

Did he invent the term?

No. It dates to before Mr. Trump was born. It was in wide use by 1933, when President Roosevelt fought the Great Depression with pump-priming stimulus. For example, a 1933 cartoon assailing the Roosevelt administration’s spending practices was titled “What we need is another pump” and showed a desperate Roosevelt, with billions already spent, pouring more water into a pump, fruitlessly.

The term is most closely associated with the economic theories of John Maynard Keynes, who advocated energetic intervention to try to arrest the depression. By the time Mr. Trump was in school in the 1950s and 1960s, it was widely taught in history and economics courses as part of the story of how the United States emerged from the depression.


In fact, arguably “priming the pump” is now a “dead metaphor,” or a metaphor in which the original evocative meaning is largely lost. Not many people have a home water pump they need to prime anymore, after all. Other dead metaphors include “champing at the bit” (technically a reference to obstreperous horses) or “selling like hot cakes” (an early term for pancakes, which were in high demand in the 19th century).

Does Trump really think that he invented it?

A more generous reading of the interview with The Economist suggests that perhaps he didn’t literally mean that he came up with the term on his own; he seemed to know that it was a phrase that the editors might have already heard. Still, this fits with a pattern in which the president seems to learn of widely known, widely discussed concepts and view them as novel and revelatory.

 

Not surprised the usual suspect(s) on board with the idiocy of the buffoon. Hook, line, and sinker...

Infrastructure plan
Trump's reliance on private toll roads creates a blueprint for failure.
Copyright 2017: Houston Chronicle
June 8, 2017

Republicans usually like to stay away from anything that can be described as Chicago-style politics, so voters should be confused to see Donald Trump pitching an infrastructure plan that borrows from one of the Windy City's worst experiments in public policy.

Back in 2008, Chicago tried to fill a funding gap by selling 75-year contract that allowed a private consortium to run its downtown parking meter system. The result was nothing short of a disaster. The new owners raised prices by 800 percent and started charging for parking where it had once been free. Businesses were hurt. People were outraged. And the parking meters broke down in winter.

Turns out that private profit and public interests don't always line up.

Nevertheless, Trump has put these sorts of questionable public-private partnerships at the core of his national infrastructure plan.

Gone is the campaign season proposal for a $1 trillion program. In a brazen bait-and-switch, Trump would actually cut infrastructure spending in the long run, according to the Center on Budget and Policy Priorities. He even proposed slashing the U.S. Army Corps of Engineers' construction account by more than 50 percent.

Instead, Trump wants the nation to rely on private investors to fund projects. These wealthy investors would be repaid with $137 billion in tax breaks and then be allowed to collect tolls from users.

You could probably list "private tolls roads" alongside " mosquito bites" and " sunburns" on the short list of things that make your average Texan curse and spit in anger.

Voters made their opinion perfectly clear when Rick Perry's attempt at a public-private Trans-Texas Corridor failed in the face of public scrutiny.

Nor were Texans keen on a local version of Trump's public-private plan with State Highway 130 east of San Antonio. After four years of operations, the private toll-road operator ended up filing for bankruptcy. Turns out that people didn't like paying tolls, and low traffic meant missed revenue projections.

All across the country there's a pattern of public-private infrastructure plans resulting in sky-high bills for users and conflicts between local governments and private investors. These problems arise from the same core conflict: The goals of public infrastructure and private investors are often irreconcilable. Public infrastructure exists to move people and commerce. Investors exist to make money.

And because these public-private deals only make sense where the private investors can find profit, Trump's plan sticks local governments with the bill on necessary but unlucrative projects. Investors aren't exactly lining up to replacing lead-contaminated water systems in poor neighborhoods. Wall Street banks aren't champing at the bit to build a multi-billion-dollar Ike Dike to protect Galveston Bay and the Houston Ship Channel.

No doubt that there is a role for private enterprise to play in public transit. For example, Mayor Sylvester Turner touted the Texas Central Partners' high-speed rail project in his State of Mobility speech on Thursday. But those opportunities for private investment cannot cover the vast infrastructure needs facing our nation.

Trump had an opportunity to take the lead on a 21st century version of a national infrastructure program. Democrats and Republicans alike have been calling for a infrastructure bill - and Trump's promise of a $1 trillion program was one of his most popular applause-lines during the campaign. Now it is just another politician's broken promise.