Skewering of Leftist Economic "Conventional Wisdom"

[Chicks]

Originally Posted by whell

Bottom line - you point to a disingenuous, leftist economist to "debunk" the analysis by the Tax Foundation. I'm laughing right out loud.

And you wonder why no one wants to discuss the issues with you.

[whell]

Originally Posted by finnbow

Again, Whell uses a single anecdote to try to prove a larger point....

Been meaning to link to this, but reading back on the comments in this thread, it seems even more appropriate now.

https://www.usatoday.com/story/money...ed/1023848001/

Call it a list of Finn's anecdotes. . USA Today should really post a more current list, though.

[finnbow]

Originally Posted by whell

Been meaning to link to this, but reading back on the comments in this thread, it seems even more appropriate now.

https://www.usatoday.com/story/money...ed/1023848001/

Call it a list of Finn's anecdotes. . USA Today should really post a more current list, though.

You're too stupid to realize that you just made my point. Fifteen companies out of ~6 million American companies giving raises or bonuses hardly represents a strong trend. It's even less than the 2% I cited earlier.

[whell]

Originally Posted by finnbow

You're too stupid to realize that you just made my point. Fifteen companies out of ~6 million American companies giving raises or bonuses hardly represents a strong trend. It's even less than the 2% I cited earlier.

I could give you a bigger list that includes 285 companies, but you'd just bitch about the source. Here it is, anyway.

https://www.atr.org/list

But so what? I strongly suspect this list will continue to grow.

And leave it to you to bitch about the fact that folks are actually benefiting from all this. Your 2% number is horsecrap for a host of reasons. For example, I'd think in reality that its amazing that 2% of the folks whose highlight of any given day is to participate in a phone survey actually admitted to benefiting from a change in the tax law. Besides, the new tax withholding tables haven't started impacting take - home pay yet.

Bottom line: this whole thing is only a month old. If anyone else (likely someone with a "D" after their name on a ballot) were in the White House, we'd not see any of these announcements because there would not have been a business - friendly change in the tax law. And if there were such a change, you'd be trumpeting announcements like these by businesses. But, since there's a Repub in the White House, you're going to bitch about it endlessly.

Enjoy your angst.

[bobabode]

Originally Posted by whell

I could give you a bigger list that includes 285 companies, but you'd just bitch about the source. Here it is, anyway.

https://www.atr.org/list

But so what? I strongly suspect this list will continue to grow.

And leave it to you to bitch about the fact that folks are actually benefiting from all this. Your 2% number is horsecrap for a host of reasons. For example, I'd think in reality that its amazing that 2% of the folks whose highlight of any given day is to participate in a phone survey actually admitted to benefiting from a change in the tax law. Besides, the new tax withholding tables haven't started impacting take - home pay yet.

Bottom line: this whole thing is only a month old. If anyone else (likely someone with a "D" after their name on a ballot) were in the White House, we'd not see any of these announcements because there would not have been a business - friendly change in the tax law. And if there were such a change, you'd be trumpeting announcements like these by businesses. But, since there's a Repub in the White House, you're going to bitch about it endlessly.

Enjoy your angst.

Grover 'Effin' Norquist? You follow that guy? Of course you do...

[finnbow]

Meanwhile, on the subject of the tax bill:

Millions of Americans will need to use a new Internal Revenue Service tool to ensure their new paychecks are accurate, Trump administration officials said Thursday as they issued guidelines for implementing the recently passed tax law...

In rushing the process, the Treasury Department is asking companies to rely on outdated forms to help determine how much to withhold...

(M)any Americans, including those who tend to itemize their tax returns, would need to use the online tool to ensure they aren’t dramatically overpaying or underpaying their taxes.

If they find their paychecks are inaccurate, it will be incumbent on the employees to tell their employers to make corrections.

https://www.washingtonpost.com/busin...4ef_story.html

[whell]

Originally Posted by finnbow

Meanwhile, on the subject of the tax bill:

Millions of Americans will need to use a new Internal Revenue Service tool to ensure their new paychecks are accurate, Trump administration officials said Thursday as they issued guidelines for implementing the recently passed tax law...

In rushing the process, the Treasury Department is asking companies to rely on outdated forms to help determine how much to withhold...

(M)any Americans, including those who tend to itemize their tax returns, would need to use the online tool to ensure they aren’t dramatically overpaying or underpaying their taxes.

If they find their paychecks are inaccurate, it will be incumbent on the employees to tell their employers to make corrections.

https://www.washingtonpost.com/busin...4ef_story.html

But your hero Clinton retroactively taxed folks, including dead ones. So, what are you complaining about?

[whell]

Oh, and the Sam's Club closing are unfortunate. However, some locations will be converted to online distribution centers and others will be converted to Walmart stores. As I understand it, the stores were placed in areas where population growth was expected, but such growth didn't materialize.

Your invocation of Trump is curious, since the closing of these operations won't involve outsourcing of jobs to another country. But details like that typically don't stop you from mixing apples and oranges, I guess.

[Rajoo]

Now for some Right Wing economic wisdom.

IRS Sets Withholding Tables as GOP Pledges Paycheck Increase

“This is outstanding for families in Texas and taxpayers across the country,” House Ways and Means Chairman Kevin Brady, a Texas Republican, said in a statement. Nine out of 10 taxpayers “will see a boost in their take-home pay within the coming weeks,” he said.

Two congressional Democrats have expressed concern that the new tables would “systematically underwithhold income taxes during the 2018 tax year.” That sort of move would boost workers’ pay before the November 2018 congressional elections but could leave them “owing federal income tax when they file in 2019,” according to a Jan. 8 letter to the Treasury Department from Senator Ron Wyden of Oregon and Representative Richard Neal of Massachusetts.

Isn't this what Bush Sr. called Voodoo Economics? Goes to show that some of the people like Texas can be fooled all of the time.

Now we know why some Sam's Club locations (aka Walmart) are closing, Texans cannot make their layaway payments?

Two congressional Democrats have expressed concern that the new tables would “systematically underwithhold income taxes during the 2018 tax year.” That sort of move would boost workers’ pay before the November 2018 congressional elections but could leave them “owing federal income tax when they file in 2019,” according to a Jan. 8 letter to the Treasury Department from Senator Ron Wyden of Oregon and Representative Richard Neal of Massachusetts.

[whell]

Originally Posted by Rajoo

Now for some Right Wing economic wisdom.

IRS Sets Withholding Tables as GOP Pledges Paycheck Increase




Isn't this what Bush Sr. called Voodoo Economics? Goes to show that some of the people like Texas can be fooled all of the time.

Now we know why some Sam's Club locations (aka Walmart) are closing, Texans cannot make their layaway payments?

Two congressional Democrats have expressed concern that the new tables would “systematically underwithhold income taxes during the 2018 tax year.” That sort of move would boost workers’ pay before the November 2018 congressional elections but could leave them “owing federal income tax when they file in 2019,” according to a Jan. 8 letter to the Treasury Department from Senator Ron Wyden of Oregon and Representative Richard Neal of Massachusetts.

Um, what does this have to do with a reduction in corporate tax rates?

Oh, and leave it to the left to find something wrong with letting folks keep more of their own money from their paycheck.