Tax Reform

[elysiantraveller]

And while we're on the subject. Even though I utterly despise the ACA and the mandate passage of this bill and the removal of the mandate will end up costing us taxpayers far more in insurance bailouts.

Unless of course we can pass a ACA stabilization bill or suitable replacement. Based on the government's efforts this year I'm less than optimistic.

[lamboguy]

this has to be a great tax plan. no other country in the world likes it. it doesn't make any difference what the amount of revenue, we can't pay the $20 trillion we owe now, so they might as well make it $30 or $40 trillion. they are just number's at this point that will never get paid off!

[NJ Stinks]

Originally Posted by boxcar

How is it going to hurt those people? If they make enough money to file tax returns, they will benefit by the cut. But if they don't make enough to file tax returns, then they get nothing back because they put so little or nothing in. Their status will remain unchanged.

See if you can think this through. If there is less tax revenue, there will be less money available for people on food stamps and other entitlement programs.

Surely a religious soul like yourself would never turn your back on people in need.

[elysiantraveller]

Originally Posted by lamboguy

this has to be a great tax plan. no other country in the world likes it. it doesn't make any difference what the amount of revenue, we can't pay the $20 trillion we owe now, so they might as well make it $30 or $40 trillion. they are just number's at this point that will never get paid off!

I keep hearing this but haven't seen any evidence. There are a couple of sections regarding foreign profits that depending on how they are applied could be in violation of WTO policy.

That's about it. At least what I can find on Google. It brings our corporate tax rate in line with the rest of the world.

[lefty359]

Bottom Line Is Dems or DIMS as I call them never saw a tax cut they liked and they never saw a spending cut they liked either. Now they are pretending to be deficit hawks. My, MY...

[elysiantraveller]

Originally Posted by lefty359

Bottom Line Is Dems or DIMS as I call them never saw a tax cut they liked and they never saw a spending cut they liked either. Now they are pretending to be deficit hawks. My, MY...

Republicans aren't either though...

It's a giant case of pot meet kettle.

[chadk66]

Originally Posted by lefty359

Bottom Line Is Dems or DIMS as I call them never saw a tax cut they liked and they never saw a spending cut they liked either. Now they are pretending to be deficit hawks. My, MY...

that's the part that amazes me. well I guess it really doesn't surprise me because it's all politics. They never said a word when the messiah added trillions to our nations debt but they squeal like little girls when someone tells them this tax cut could add to the debt . They are against it for one reason and one reason only. It will destroy their election possibilities and will guarantee Trump a second term and they know it. Nothing more nothing less.

[zico20]

Originally Posted by NJ Stinks

See if you can think this through. If there is less tax revenue, there will be less money available for people on food stamps and other entitlement programs.

Surely a religious soul like yourself would never turn your back on people in need.

Wrong! The Republicans can't cut spending to save their life. Money will always be there for entitlement programs, the problem is Democrats believe if they don't spend as much as they deem satisfactory then it is a spending cut, which is plain ludicrous.

As Lambo said, what is the difference between 20 trillion and pick a number, we are in debt forever.

[boxcar]

Originally Posted by elysiantraveller

That's about it. At least what I can find on Google. It brings our corporate tax rate in line with the rest of the world.

And this is a bad thing?

[fast4522]

Originally Posted by lefty359

Bottom Line Is Dems or DIMS as I call them never saw a tax cut they liked and they never saw a spending cut they liked either. Now they are pretending to be deficit hawks. My, MY...

It is all about regaining power, when they get it they will squander it.
Everyone wants something, few can remain in office by cutting or even slowing growth in any program. Never fear across the board cuts will be followed after the country gets back to work. Oh for those who really don't want to work, you will become a larger part of the cuts. Those who want Europe might get good deals on airfare with more people working, commercial airlines will make a big comeback with everyone having more discretionary pocket money. The failure to prove collusion on anyone but the democrats has nicely put minority leaders in a box to face the shit squad over and over.

[boxcar]

Originally Posted by NJ Stinks

See if you can think this through. If there is less tax revenue, there will be less money available for people on food stamps and other entitlement programs.

Surely a religious soul like yourself would never turn your back on people in need.

No there won't. Now, see if you can think this through: Decreased taxes = more disposable income = more consumer spending = more business = greater productivity demand = more more jobs and larger tax base. Also, the government should be in the proactive business of REDUCING the welfare rolls in favor of fostering more productive citizens and legal alien residents. Shirley, you can see how this latter strategy is both morally and fiscally superior to your preserving or even growing the welfare state.

[chadk66]

I believe I read where the number on food stamps, etc has already dropped significantly.

[lamboguy]

probably the main reason why this country owes out $20 trillion now is that they give away all this money to the bankers via the fractional banking system.

for those that don't know how that works, i will attempt to explain it.

you walk into a bank and deposit $1000. the banker uses that $1000 to borrow $10,000 @ 1/4 of a percent interest rate. they now take that $10,000 and buy US treasury bills and bonds @ 2 1/4%. the bank just made $200 on the original $1000 that was deposited in their bank with no risk. they don't help the economy or do anything good for anyone else but themselves. to top it off when it comes time to pay taxes on that $200 they have depreciation allowances and tax credits to knock the number down to close to nothing.

the bankers make hundreds of billion's every year with this crazy system. the bankers make sure they have the right people in place in the congress so that they don't lose this welfare. right now they have nothing to worry about!

[elysiantraveller]

Originally Posted by boxcar

And this is a bad thing?

Nope.

Again if you would read some of my comments on the matter without knee-jerk partisan reaction you would know I favor a corporate tax cut.

Here are my issues:

- The the rest of the cuts I'm not on board with. They aren't necessary.

- Making the ACA more insolvent without a solution guaranteeing it will require future taxpayer bailouts.

- Cutting revenue before pursuing spending initiatives

- Doing nothing to reform our entitlement system which is going to be the real driver of future debt.

It all boils down to credits and debits. This plan decreases revenue while increasing spending.

[elysiantraveller]

And to think there was a time when Republicans were clamoring for a balanced budget amendment (which I opposed btw )...

Now it's, "20 trillion... 30 trillion who really cares anyway?"

At least Obama attempted after 2012 to cut into deficit spending. His plan sucked. It projected out terribly. But at least he put a shiny band aid on the open heart wound.

I'll reserve complete judgment until I see what follows on the agenda after this. I'm not optimistic though. I'm guessing this administration intends to rack up the credit card too...