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  #21  
Old 01-11-2018, 07:57 PM
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Originally Posted by whell View Post
Have fun going off topic all by yourself.
Only when you choose to deflect.
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  #22  
Old 01-11-2018, 08:02 PM
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I'm thinking that its simply because you're not able to, because I've not seen much evidence to the contrary.
Poor Whell, he's such a stable genius.
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  #23  
Old 01-11-2018, 08:52 PM
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Poor Whell, he's such a stable genius.
Thank you for providing additional evidence to the contrary.
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  #24  
Old 01-11-2018, 09:02 PM
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Thank you for providing additional evidence to the contrary.
Calm down, Skippy.
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  #25  
Old 01-12-2018, 12:01 AM
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This opinion piece is a must read IMO.

Steve Bannon has a point

Quote:
Remember candidate Trump? His signature issue was immigration, on which he promised an unyielding hard line, including a border wall and mass deportations. His “Contract with the American Voter” was brimming with populist measures, from tough actions against China to a trillion-dollar public works program. His economic plans focused on goodies for the middle class, from a 35 percent tax cut for middle-class families to deductions for child and elderly care. He called for severe restrictions on lobbying and for term limits on members of Congress.

Trump’s final campaign ad featured images of billionaire financier George Soros, Federal Reserve Board Chair Janet L. Yellen and Goldman Sachs’s chief executive Lloyd Blankfein, darkly narrated by a Trump speech in which he warns against the “global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth and put that money into the pockets of a handful of large corporations and political entities.”
Now this.
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Flash forward to Trump today. There is no wall, and the president now speaks of a “bill of love” that could offer a path to citizenship for the millions of undocumented immigrants he once promised to deport. His relations with China have been decidedly chummy, as have those with another country he excoriated on the campaign trail, Saudi Arabia. The focus of his economic program has been to return vast sums of money to large corporations. Most of his tax law’s benefits go to those firms and to people in the highest income brackets.

Oh, and these economic policies are being designed and implemented by Blankfein’s former No. 2 at Goldman Sachs, National Economic Council Director Gary Cohn, and a former Goldman partner, Treasury Secretary Steven Mnuchin.
Quote:
During the presidential transition, Bannon told Wolff that the Trump era would be like America in the 1930s, with a massive public works program that would get blue-collar workers back into shipyards, mills and mines. Instead we appear to have a return to the 1920s, an era of unrestrained capitalism, giddy market exuberance, a shrunken state and dramatically rising inequality. Is this what the laid-off steelworker in Ohio voted for?
https://www.washingtonpost.com/opini...=.75693efbdeeb
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  #26  
Old 01-12-2018, 04:55 AM
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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.
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  #27  
Old 01-12-2018, 05:25 AM
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Hey Finn - here's a double whammy for you. Not only is Chrysler moving truck production back from Mexico bringing back 2500 jobs, they're also giving out bonuses. Why? A more favorable tax climate.

http://www.detroitnews.com/story/bus...ico/109373632/

Fiat Chrysler Automobiles NV will invest $1 billion at its Warren Truck Assembly plant to bring production of its Ram Heavy Duty truck to the U.S. from Mexico. The company said Thursday the move will add 2,500 jobs in Metro Detroit by 2020, when the plant retooling is completed.

The automaker also plans to give its 60,000 hourly and salaried U.S. employees $2,000 bonuses.

“These announcements reflect our ongoing commitment to our U.S. manufacturing footprint and the dedicated employees who have contributed to FCA’s success,” CEO Sergio Marchionne said in a statement. “It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the U.S. business environment by investing in our industrial footprint accordingly.”

The company said the move solidifies the U.S. as a manufacturing hub for Ram vehicles. Marchionne and the company said both the new investment and the bonuses were “made possible in part by the passage of U.S. tax reform legislation late last year.”
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  #28  
Old 01-12-2018, 07:27 AM
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Originally Posted by whell View Post
Hey Finn - here's a double whammy for you. Not only is Chrysler moving truck production back from Mexico bringing back 2500 jobs, they're also giving out bonuses. Why? A more favorable tax climate...
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.

It didn't simplify the tax code or close loopholes, nor will it pay for itself (as promised). What it will do is increase interest rates as well as concern from our creditors about the credit-worthiness of US treasuries (just yesterday China expressed grave concern about US treasuries) and bonds are reportedly entering a bear market. Increased interest rates will ultimately have a negative impact upon the economy. Meanwhile, enjoy your sugar high.
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  #29  
Old 01-12-2018, 07:52 AM
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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.

It didn't simplify the tax code or close loopholes, nor will it pay for itself (as promised). What it will do is increase interest rates as well as concern from our creditors about the credit-worthiness of US treasuries (just yesterday China expressed grave concern about US treasuries) and bonds are reportedly entering a bear market. Increased interest rates will ultimately have a negative impact upon the economy. Meanwhile, enjoy your sugar high.
We're clearly beyond anecdotes at this stage, my stubborn friend. The China bond story has also been debunked a bit, now classified as a leak aimed at influencing trade policy rather than any serious concerns over China's US bond holdings. And if bonds are entering a "bear market", it's because there are more attractive investments out there...like stocks.

https://www.ft.com/content/924e4c88-...7-5465a6ce1a00

You claim it won't pay for itself, with your fixed pie economy point of view. Others, including the former CBO Director Douglas Holtz-Eakin, thinks it will. I'll take Mr. Holtz-Eakin's Ph.D in Economics from Harvard - informed opinion on this.
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  #30  
Old 01-12-2018, 08:16 AM
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Quote:
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You claim it won't pay for itself, with your fixed pie economy point of view. Others, including the former CBO Director Douglas Holtz-Eakin, thinks it will. I'll take Mr. Holtz-Eakin's Ph.D in Economics from Harvard - informed opinion on this.
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.
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