LOL - Reagan did it then had to raise taxes 10 times to claw back to fund the government. Failed policy for the ignorant. DD
When in doubt, insult. Where did I debate the tax bill would create jobs? Please quote me. Those in your echo chamber implied it cut jobs. Maybe you should be insulting him instead?
So what is this tax cut for corporations good for again? Btw tax cuts won't cut jobs. It will raise the deficit and in the short term working and middle class will get a free toaster, while billionaires and corporations get Cadillacs. Poor republicans will think they're winning though. Idiot Trump fans lol.
Unless you are living in New York, NJ, or California, this most likely is untrue. Since you like to copy and paste reasoning from the Washington Post and a generalization made by the author...Here is a real thought out response by a poster(sillyjay)... The author really should do more research than just speculating on tax issues like this. As a CPA I can tell you that numbers don't lie. Under our current tax code for a family of four with two kids in college the income tax bill on $100,000 income is $9707. The calculation is as follows: 100,000 - 12,700 standard deduction - 16,400 in exemption deductions = 70,900 taxable income (15%) bracket. Under the new bill the calculation is as follows: 100,000 - 24,000 standard deduction = 76,000 taxable income (12%) bracket). This leads to $8907 is tax less $1000 in credits ($500x2) resulting in tax of only $7907. Under the new tax bill the author "speculates" that this family will owe $500-$1000 more in tax when if fact they will have a $1800 tax cut. Pathetic reporting! I am NOT an expert by any means NRF, but do the math for your own family...before spewing out the circle jerk rhetoric you consistently post. A significant majority of American families are getting a credit.
The corporate tax cut is good for global competitivity and is long overdue. The rest of the abortion that is the tax bill is the issue. Raise taxes on the rich to pay for corporate tax cuts.
I don't if the poster named "sillyjay" is a real CPA or only plays the part when defending trump on comment areas, but the "author" of the article named the person who came up with the "generalization"... So lets look at Elaine Maag's professional background: https://www.urban.org/author/elaine-maag Now... your "sillyjay" may or may not be a CPA, and may or may not contributing accurate and truthful information. We don't know... all we have is an anonymous poster on the comments section. But seems Elain Maag might know a thing or two about taxes...
https://www.federalbudgetchallenge.org Spending Choices Defense Spending Cut $133 B General Government Spending Cut $251 B Investments Spend $145 B Social Security Cut $713 B Health Care Cut $158 B Interest Adjustment Cut $758 B SUBTOTAL Spending Decrease $1.87 T Revenue Choices Comprehensive Tax Reform* Raise $1.20 T Other Revenue Raise $1.45 T Tax Expenditures Raise $1.29 T SUBTOTAL Revenue Increase = $3.94 T Total deficit reduction $5.81 trillion You finished with a $3.59 trillion deficit I'm helping!
Elaine Maag has a BA in Psychology and MS in Public Policy Analysis...quick look at her 'professional' qualifications...
You seem to have a problem with the difference between educational and professional... Curious, what was your post graduate degree in? Seems a MS in public policy analysis is pretty appropriate when discussing tax legislation.
You seem to shift goal posts whenever you get smacked around on a public forum. The Urban institute is a Washington DC leftist think tank, who employs a person with ZERO educational qualifications in finance. Lets get a psychology major to tell me about my finances...You NEVER answered my initial question about how this tax bill negatively impacts YOUR family...instead you cut and pasted a fcking article to respond. Lets start again...tell me HOW your financially losing. Unless you live in heavily taxed states (ie. NY, NJ, CA) you are more than likely to have some form of credit as a result of this bill.
As soon as I do my taxes I will be happy to share how they impacted my taxes. Until then, your belittling of someone with such obvious professional background is pretty silly, especially when you cited someone who posted in a "comments" filed and claimed to be a CPA. btw, how do you know she has ZERO educational qualifications in finance? Did you look through her transcripts? Again, she has a Masters in public policy analysis. So calling her a psychology major is pretty silly. And again, here's her PROFESSIONAL background: btw, I don't have a masters degree. You didn't share what your Masters degree is. Finance perhaps?
THE TAX CUTS AND JOBS ACT, AS REPORTED BY CONFERENCE COMMITTEE (12/15/17): TAX EFFECTS BY INDUSTRY http://budgetmodel.wharton.upenn.edu/issues/2017/12/15/effective-tax-rates-by-industry
Yep this is going to ballon the deficit like we have never seen. And please spare me Obama increased the debt blah blah blah but now you Dems care!?. Government spending during a recession to take the place of business decreased spending is a tried and true way to get out of a recession and guess what it worked. The economy is humming along with low unemployment and now is the time to cut spending (begin with the bloated defense budget) and discuss raising taxes on the rich.
If the whole justification behind trickle down is cut taxes so they will invest and hire more why not actually enforce it? Local governments like cities and counties do tax abatements all the time. Build your plant here and you get 10 years of reduced property or sales taxes but you must hire x amount of people for x amount of years. If you don’t there is a clawback provision and you give the money back. Just do this on a national level. You want your rates cut? Ok sign an economic incentive agreement that proves the savings will goes towards capital investment or hiring. It blows my ****ing mind that Republicans are either ignorant enough or naive enough to think if you just reduce regulations or cut taxes that somehow companies will do what they should without any sort of written enforcement agreement? If you want a desired result then get it in writing before you hand them what they want!
Ridiculous to watch the blue and red sheep argue about not taxing the American people enough or taxing them to much. Meanwhile, our government spends money like it's going outta of style. I'm sorry but the American people shouldn't finance our government living above it's means. I'll tighten my belt as soon as they government does theirs first. But go ahead and keep arguing, blaming, mocking, each other. It's what they want and need to keep up their wild spending extravaganza!
