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  #31  
Old 01-12-2018, 08:17 AM
Chicks Chicks is offline
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So, Whell, you trust the experts when they agree with you, but when they don’t, they’re ignorant “lefties”. You’re hilarious.
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  #32  
Old 01-12-2018, 10:46 AM
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whell whell is offline
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Originally Posted by finnbow View Post
Holtz-Eakin is a dedicated supply-sider and the president of a right-wing think tank, the American Action Network. He's about as credible as your Dear Leader's other Alt-Economist, Stephen Moore. There's not a single, credible non-partisan economist or economic think tank who believes that this tax cut will pay for itself.

If you believe this tax cut will pay for itself, you likely also gullible enough to believe that your Dear Leader isn't a liar and a racist.
I think this is hilarious. First, I need to catch myself before fall into the absurd talk track that a corp tax reduction - or tax reduction of any sort - must "pay for itself". If for no other reason that the totality of our tax code is made up of so many moving parts that a singular event like a relatively modest reduction in corporate income tax - which accounts for only about 10% of total tax revenue - is going to somehow send the US government into fiscal distress.

Second, to "pay for itself", we'd need to sustain on average an increase in economic growth of 1% over the current CBO projection of 1.9% for 10 years. Since economic growth rates over the past 10 - 15 years are at historic lows, and most economics suggest the economy is poised for a period of sustained growth, are we really saying that economic growth of 2.9% per year is an unreasonable estimate? (And I don't necessarily but the idea that since we're nearing "theoretical full employment" the prospects for economic growth are compromised).

Even if its 2.5%, we can certainly take steps to "pay for" the a tax rate reduction in other ways. The federal budget is a cesspool of overspending and opportunities to reduce the scope of "paying for" a tax reduction are everywhere.
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  #33  
Old 01-12-2018, 10:47 AM
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whell whell is offline
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Originally Posted by Chicks View Post
So, Whell, you trust the experts when they agree with you, but when they don’t, they’re ignorant “lefties”. You’re hilarious.
You'd know, Chickie.
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  #34  
Old 01-12-2018, 11:15 AM
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Dondilion Dondilion is offline
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Originally Posted by finnbow View Post
I don't doubt that $1.5 trillion in tax cuts for corporations and the wealthy will have some positive impacts for corporations or the wealthy and will trickle down somewhat on the less privileged. The issue is whether this tax package was the right thing to do at the time in terms of equity, the deficit and inflation. A couple of anecdotes don't make it so.
Well put!
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  #35  
Old 01-12-2018, 11:36 AM
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nailer nailer is offline
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Originally Posted by Rajoo View Post
Really, define folks. I am not one since my property tax deduction is now limited to $10K which is less than half and own two homes with monthly mortgage payments.
You just defined yourself as not being one.
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  #36  
Old 01-12-2018, 11:41 AM
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nailer nailer is offline
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Originally Posted by whell View Post
Meanwhile, and back on topic:

https://www.cnbc.com/2018/01/10/bill...or-stocks.html

Even Warren Buffett thinks the Corp tax rate reduction is positive.
So, one of America's richest investors, pretty sure it's in corporate wealth, thinks corporate tax rate reductions are good.
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Last edited by nailer; 01-12-2018 at 11:45 AM.
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  #37  
Old 01-12-2018, 11:54 AM
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finnbow finnbow is offline
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Originally Posted by whell View Post
...The federal budget is a cesspool of overspending and opportunities to reduce the scope of "paying for" a tax reduction are everywhere.
They are indeed and they were either untouched by this package or Trump promised to leave them untouched.
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  #38  
Old 01-12-2018, 01:24 PM
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whell whell is offline
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Originally Posted by nailer View Post
So, one of America's richest investors, pretty sure it's in corporate wealth, thinks corporate tax rate reductions are good.
Yup. Right after saying they weren't needed.

https://www.washingtonpost.com/graph...=.a857e071f86e
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  #39  
Old 01-12-2018, 01:27 PM
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whell whell is offline
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Originally Posted by finnbow View Post
They are indeed and they were either untouched by this package or Trump promised to leave them untouched.
Untrue. Remember this from earlier in 2017. The House keeps kicking a budget deal down the road, so we've not gotten to the spending part yet.

https://www.nytimes.com/interactive/...t-details.html

So, more to come on the spending side of the equation.
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  #40  
Old 01-12-2018, 01:32 PM
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finnbow finnbow is offline
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Originally Posted by whell View Post
Untrue. Remember this from earlier in 2017. The House keeps kicking a budget deal down the road, so we've not gotten to the spending part yet.

https://www.nytimes.com/interactive/...t-details.html

So, more to come on the spending side of the equation.
Are you saying it is untrue that Trump promised not to touch Social Security, Medicaid and Medicare? Here are some facts, though facts might make your head explode.
http://www.politifact.com/truth-o-me...cuts-medicare/
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Last edited by finnbow; 01-12-2018 at 01:53 PM.
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