Two Million People (and counting) Receiving Tax Reform Bonuses

Between year 5 and 10 when the plan would turn red for me, which it would, I don't think I'll be in the same situation I am now. My financials will hopefully be in a different spot so the change won't affect me as they would in my current situation.

 

It's nonsense to continue with your false equivalency. You can't claim business isn't charity and then claim business creates jobs and raises wages/benefits without demand because they have a lot of money which is basically charity.

There is no correlation between profitability and wages. I've shown you the data, you continue to ignore it and you continue to provide your anecdotes as evidence that real data is wrong.

BTW, this isn't the first time companies repatriated their overseas cash because of a tax break and the last time that money was spent on stock buybacks not on jobs and wages.

 

You are assuming things like interest rate won't affect you in other ways. Also even though it may not affect you directly, if it negatively impacts others that can have an impact across the board. Most jobs are somehow connected to consumer spending

 

Luckily my job has zero to do with consumer spending, or consumer habits whatsoever. I will absolutely deal with interest rates in the coming years, mostly via real estate, but how things are today are not likely the way they will be in 2020 and beyond.

 

ACH didn't push the debt to all-time high it was Bush tax cuts, a major recession, and the Iraq war. The deficit shrunk considerably by 2016.

If it were me, I'd give companies that headquartered in the US and set at least 1/4 of their rev to domestic non-exec employment a 0% corporate tax rate. That would cover nearly every small business in the country. And I'd make the top individual bracket 50%, as well as make capital gains tiered.

Entitlements are going to be a problem whether its ACH or universal health care. But to think that as a first world nation we're going to be a superpower into the next century when we have over 1/4 of the population without a good education and health care is ludicrous.

 

Marketing and social optics, like an MLK day sale. Remember when those didn't exist either?

 

This has been debunked so many times. GDP shrunk incredibly during the great recession - yet you ignore that. You are simply repeating right wing spin here - not the facts. Bush was the source of 90% of that increase. But you have been told it's ACA which is a blatant lie.

https://www.thebalance.com/cbo-report-obamacare-3305627

The only contribution made to the deficit by Obama was the 1.3 trillion emergency stimulus which was necessary to jump start a sick economy and why were are in good shape today. Other than that every single part of that debt is Bushes

 

Those are facts depending on how one interprets your leading phrase "under Obama."

Spoiler

That's a big data plot of quarterly GDP leading up to the recession and through Q3 of 2011. If you blame Obama for the nasty recession that started well before he was elected, it's fair to ding him for the missing extrapolation of this graph from 2009 through most of 2011 that would have greatly influenced the total debt numbers during his presidency. In pre-recession dollar values, the economy did not recover to former levels until the end of his third year. Government spending, under all presidents, sadly, is tied to the idea of a growing economy. Costs of everything keeps going up, of course.

No, "no matter how you spin it," economists agree overall that a major recession will have an impact on federal debt. Also, LOL.

 

In 2008 GDP shrank and it did again in 2009 before rebounding in 2010. 2009 belongs to Bush as Obama hadn't had a chance to enact policy by that time - it was still Bush's policies and the stimulus Obama and Congress passed didn't hit until later that year and in 2010.

Bush cut taxes early in his term which reduced income
Year, Receipts, Outlays, Net

1. 2000 2,025,191 1,788,950 236,241
2. 2001 1,991,082 1,862,846 128,236
3. 2002 1,853,136 2,010,894 -157,758
4. 2003 1,782,314 2,159,899 -377,585
5. 2004 1,880,114 2,292,841 -412,727
6. 2005 2,153,611 2,471,957 -318,346
7. 2006 2,406,869 2,655,050 -248,181
8. 2007 2,567,985 2,728,686 -160,701
9. 2008 2,523,991 2,982,544 -458,553
10. 2009 2,104,989 3,517,677 -1,412,688
11. 2010 2,162,706 3,457,079 -1,294,373
12. 2011 2,303,466 3,603,056 -1,299,590
13. 2012 2,449,988 3,536,951 -1,086,963
14. 2013 2,775,103 3,454,647 -679,544
15. 2014 3,021,487 3,506,114 -484,627
16. 2015 3,249,886 3,688,292 -438,406

​

You can see the Bush tax cuts dropping receipts a few hundred billion. Meanwhile Bush ballooned spending by 1.2 trillion dollars. It was over 3 trillion by the time Obama took over mainly because of the Iraq and Afghan war. Then the recession hit and killed receipts. So much of that 1.4 Trillion deficit is because of overspending by Bush, tax cuts, and the recession lowering receipts. Keep in mind that a lot of the programs belonged to Bush (TARP for instance) and even the stimulus was heavily influenced by Geitner. The stimulus was a necessary effort to save the economy, and it was passed with bi-partisan support.

Regardless to blame Obama for that 1.4T deficit in 2009 given the lose in receipts, given the two expensive wars he inherited, given the programs Bush started to save the economy at the end of 2008 that were very expensive in 2009 - to blame Obama is just ludicrous and disingenuous.

 

I have always received around $300 to $400 dollar bonus yearly and this year I got $4,500. So it is something new.

 

Let’s keep relying on anecdotal evidence.

 

you just ignored the data and facts I put up...

 

Okay. I own and run a business that is in several states and in Ireland. None of my employees received any additional bonuses because of the Tax Bill. There are nearly 130,000,000 full time employees in the United States. How many of them received ADDITIONAL bonuses as a result of the Tax Bill? How many will get additional bonuses as a result of the Tax Bill next year? If you want to rely on a handful of people posting on a message board as being representative of a sample size of 130,000,000; then have at it.

 

All I know is I haven't received a raise, bonus, or even decrease in what I am being taxed yet. Perhaps trump is simply targeting those that favor his tax cut and skipping over us that opposed it?

 

I'm in the same boat. I received a raise and bonus last year (December of 2016). Despite my performance going up, I did not get a raise nor a bonus this year. I am not being taxed at a lower rate either.

 

you call it anecdotal but i'm sure for @JoeyTexas254 and his family that extra money is more than anecdotal. not saying this is @JoeyTexas254 and clearly not for you but for many scraping by paycheck to paycheck this is life altering income. why do you discount or not care about those people who aren't thinking about years from now because they're not sure if they can make it next month? aren't liberals supposed to be more altruistic than conservatives, yet you seem to care more about abstract debt and deficits than the everyday well being of real human beings.