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Why are so many people up in arms about the cost of the GOP tax bill?

RiccochetJ

Gold Member
Man if everyone thought the way you did no one would live in Kansas!

I wonder why Colorado is booming then with no shorelines to speak of.

You realize that Colorado is nestled right next to the rocky mountains right?

Not everyone wants an ocean.

And yes, I think that Kansas is not a destination location to move to. Do you think I'm wrong?
 
It kinda fucks over grad school tuition and those who make $10-40k a year but otherwise I’m mostly for it.

Grads doing important research are going to get their funding from private foundations anyway so it isn’t nearly as big of a deal as millennial date making it out to be.

No more penalty for not having health care either.
 

demon

I don't mean to alarm you but you have dogs on your face
It kinda fucks over grad school tuition and those who make $10-40k a year but otherwise I’m mostly for it.

Grads doing important research are going to get their funding from private foundations anyway so it isn’t nearly as big of a deal as millennial date making it out to be.

No more penalty for not having health care either.

Think long and hard about this statement.
 
Fuck, all we wanted was the end to being forced to buy into healthcare.

Why do all these other shitty tax changes have to be included??
 
Explain to me what's happening in Kansas and in Oklahoma right now.

I'm actually on your side mostly, but you throw out "job creators" as a talking point where it's impossible for me to believe that you actually know what that means other than a talking point on Fox News.

But I'll give you a chance. Explain to me who the job creators are. Explain why some of these breaks are good for businesses.

Corporate profits are at record highs and interests rates are still really low, if more money was to be made creating jobs businesses would be doing so already by using money they already have or borrowing for next to nothing. This is trickle up economics pure and simple.
 

RiccochetJ

Gold Member
Corporate profits are at record highs and interests rates are still really low, if more money was to be made creating jobs businesses would be doing so already by using money they already have or borrowing for next to nothing. This is trickle up economics pure and simple.

I always love when someone uses "Corporate"

It tells me where their focus is.
 

llien

Member
Wait why dont y'all want that more money goes to the corporations and those who owns property and so on? Have some compassion!
 

RiccochetJ

Gold Member
Found some evidence you couldn't refute huh?

No... That's always been the trump card. "Corporate" It dehumanizes everyone.

"Well these conglomerates will get these tax breaks!"

Fuck everyone else including the 2 - 3 person operation who are doing ok but would love to give their office manager a pay raise and get them some health insurance.

You're out for the big dogs and damn everyone in your path right?
 

HStallion

Now what's the next step in your master plan?
Again this tax bill is a farce and anyone defending it is showing their asses. Why does a fucking tax bill have a part that changes life to be at the point of conception or allow for drilling for Alaska? Why does it repeal tired mandate but allow for Healthcare for the family of GOP members? Why are they scribbling shit into the margins? This does little to nothing for the poor and lower classes and everything for the rich.
 
It does work. Tax increases slow the economy down. And cuts speed it up. True in 1980. Still true in 2017. Other factors are in play but the economy will respond.
No, it's not that simple.
The US tax rate was at one of it's lowest during the great depression and at many of it's highest points the US economy was doing incredibly well.

There are plenty of studies that show this.

https://www.theatlantic.com/busines...omic-growth-a-new-65-year-study-finds/262438/

Remember, Obama extended the Bush tax cuts for virtually everybody not out of the kindness of his heart but because he knew how important they were to the US economy. Alternatively, he didn't extend the tax cuts for the rich because he wanted score political points.
Obama wanted it extended for the middle class, not the upper class. They purposefully made several bills to attempt to only keep tax cuts for under 250k, and 1m for this exact reason. Neither bill passed the Senate.
 

Mohonky

Member
I see why some people are lobbying for this bill not to go through because the bill would harm the poor and the biggest beneficiaries are big businesses.

However, as far as costs, a bill that is estimated to cost $500 billion -$1.7 trillion dollars over the next 10 years isn't a lot. The US economy is putting out $18.57 trillion as of 2016. Therefore, the cost burden of this bill on the US economy will be tiny by the time it fully goes into effect.

Additionally, from 2006-2016 the US ran a deficit of 8.1 trillion and debt held by the public increased nearly 200%. Look at the economy now. It's pretty good under Pres. Trump just like it was pretty good towards the tail end of Pres. Obama's 2nd term.

If people don't want to spend this money giving tax breaks to job creators, then what do you want to do to kick the economy into high gear?

You answered your own question.
 

Mr_Black

Member
https://twitter.com/Hermit_Hwarang/status/936856206341152769

The private school tax break was taken out though.

This tax bill does punish the lower and middle class in favor of the rich.

Dude these guys are fucked. They are mentally damaged and radicalised.

This is what they do. They'll get shat on repeatedly after regurgitating Trumps absolutely retarded talking points on how its great.

Then after getting shat on they google stuff like "is trickle down . economics bad" because they literally are 15.

Read up on. breitbart and come out with this.

And have you noticed the kind of written voice they all have? They all sound exactly the fucking same. It's absolutely bananas.
 
You answered your own question.

Not really.

The tax bill harms the poor in some ways, but keep in mind that net roughly 50% of the tax benefits will go to people making under 200k and that number shrinks to 31% around 2027 according to the Tax Policy Center. That's not a bad deal and poor people can do their part in elections between now and 2027 if they don't want their tax relief to shrink. I don't think those concerns are enough to torpedo the bill without a good alternative.
 
Not really.

The tax bill harms the poor in some ways, but keep in mind that net roughly 50% of the tax benefits will go to people making under 200k and that number shrinks to 31% around 2027 according to the Tax Policy Center. That's not a bad deal and poor people can do their part in elections between now and 2027 if they don't want their tax relief to shrink. I don't think those concerns are enough to torpedo the bill without a good alternative.

The status quo is superior to this bill, there's your alternative. This is also an example of a bill that doesn't represent the democratic system.

It pays for corporate taxes on the backs of the poor and middle class. It raises taxes on coastal and large midwestern states, students of all people, and certain small business owners. The fine details are horrendous.

Plus Alaska oil drilling and repealing the individual mandate are misplaced.

Missing lots of info, waiting on a source that covers everything:

http://money.cnn.com/2017/12/02/pf/taxes/senate-tax-bill-passed/index.html
 
Can any Republicans tell me why it is a good idea to give a tax break to private jet owners, but to get rid of the student loan interest deduction and remove deductions on lower income child care?
 

demon

I don't mean to alarm you but you have dogs on your face
Can any Republicans tell me why it is a good idea to give a tax break to private jet owners, but to get rid of the student loan interest deduction and remove deductions on lower income child care?
They will use the extra money to create more jobs, and those stupid poors will make more money and won't need those tax breaks. It's just how it works, man.
 

Bleh

Neo Member
The entire basis of the tax cuts is that Republicans think/assume/hope corporations will use those savings for job creation and investment, which in theory would grow the economy. Problem is, CEOs of some of the biggest corporations have already said they will instead use the savings to raise stock dividends and/or for stock buybacks, both of which will benefit shareholders and have no effect on workers. (See here and here) And the Republicans are in denial about it. (Scroll down a ways at that link to see just how gullible some of them are, on record.)

Most of the Republicans voting for the tax cut haven't even read the damn thing and are going based on faith in the GOP leadership. (And as noted above, belief that corporations will "do the right thing" for the American people.) But really, many of those voting don't care who it helps or doesn't help, they voted because lobbyists and rich donors basically threatened to end fundraising if they didn't pass this thing.

I wouldn't give a shit about these corporate giveaways if they weren't paid for with eliminations in tax deductions used by lower and middle income households, most egregious being the student loan deduction. Without that, good luck being able to afford a college education if mommy and daddy are not rich, especially if you plan to go to graduate school. (Then again many on the right are anti-intellectuals, so this is a win from their perspective.) The mortgage interest deduction has also been slashed in half, which will affect people in high tax states, but you know, those are the "coastal elites" so fuck them, right? Never mind that it's generally agreed tax cuts don't actually boost economic growth. Anyone around in the 80's remembers the Reagan tax cuts and the myth of trickle-down, now more often called "voodoo" economics.

The most hypocritical part of all this is that Republicans harped NON-STOP about the deficit when Obama and Democrats were trying to pass just about ANY legislation, but now that THEY are the ones in charge, they don't care that the deficit will increase by over a trillion dollars.

So why is everyone up in arms? Maybe read up on it and find out yourself.
 

rokkerkory

Member
You realize that Colorado is nestled right next to the rocky mountains right?

Not everyone wants an ocean.

And yes, I think that Kansas is not a destination location to move to. Do you think I'm wrong?

Yes you are wrong. Everyone should just abandon states like kansas then. Because destination locations defines how well an ecomony should do.
 
You realize that Colorado is nestled right next to the rocky mountains right?

Not everyone wants an ocean.

And yes, I think that Kansas is not a destination location to move to. Do you think I'm wrong?

Mountains are so good for the economy. Usually when we are comparing economies we go by percentages of GDP. Kansas saw drops after tax cuts. Those tax cuts were so bad that the Republicans of Kansas turned those around, and were warning the US not to try their own tax cuts.

https://www.theatlantic.com/politics/archive/2017/10/tax-trump-kansas/542532/

”That won't work, so you better learn our lesson," warned Kansas state Senator Barbara Bollier, a Republican who voted against the tax cuts originally and then fought to undo them earlier this year.

But the new policy did not prevent a rural recession in Kansas or a dip in its oil-and-gas business. ”It generated hardly any measurable economic activity," Denning said.

Neither of these people are Democrats, the latter is a Republican who voted for the exact same type of tax cuts on their state as was being voted on in Congress.

Kansas's employment rate grew at less than half the rate of the rest of the US following the tax cuts.

https://www.huffingtonpost.com/entry/just-say-no-to-trumps-tax-cuts_us_59ccc414e4b0b99ee4a9caba

Then, in 1993 Bill Clinton raised the top marginal tax rate and GDP grew again for the next five years. The longest period of economic expansion in American history was preceded by a set of tax increases, not cuts. GDP grew more than two times faster in the 1950s when the highest marginal tax rate was above 90% than it does now when the highest rate is 35%.

The Republicans push "trickle-down economics" despite the fact that it's never happened, even after several attempts. It's never happened regardless of how much more money the upper class has. It's never happened regardless of how much money they have at all.

Even with the upper class getting larger than ever, the Republican argument just doesn't work.

It's like watching someone throw more and more money onto a pile and thinking, "man if we gave that guy a tax cut, surely he'd be more generous and share some of it." Despite the fact that it has never happened before.
 

pramod

Banned
The entire basis of the tax cuts is that Republicans think/assume/hope corporations will use those savings for job creation and investment, which in theory would grow the economy. Problem is, CEOs of some of the biggest corporations have already said they will instead use the savings to raise stock dividends and/or for stock buybacks, both of which will benefit shareholders and have no effect on workers. (See here and here) And the Republicans are in denial about it. (Scroll down a ways at that link to see just how gullible some of them are, on record.)

Then maybe you should start buying stocks? If not, what's your excuse?

Most people already own stocks, like in their 401k.

So yeah, if stocks go up a lot of people will benefit, not just "rich" people.
 
Then maybe you should start buying stocks? If not, what's your excuse?

Most people already own stocks, like in their 401k.

So yeah, if stocks go up a lot of people will benefit, not just "rich" people.

Everyone buying stocks isn't the answer, especially because prices will go up, they'll spend less on product, and companies revenues will shrink. But companies see financial short-term, so then they'll have to react by layoffs, manipulating stocks, etc.

If you're a job creator who likes growth, you want money in people's pockets. Money in pockets. Liquid. Ready.
 

XAL

Member
Can threads trying peddle trickle down economics just be insta-locked?

It's been roundly proven for almost 3 decades to be utter bullshit.
 

Breads

Banned
The entire basis of the tax cuts is that Republicans think/assume/hope corporations will use those savings for job creation and investment, which in theory would grow the economy. Problem is, CEOs of some of the biggest corporations have already said they will instead use the savings to raise stock dividends and/or for stock buybacks, both of which will benefit shareholders and have no effect on workers. (See here and here) And the Republicans are in denial about it. (Scroll down a ways at that link to see just how gullible some of them are, on record.)

Most of the Republicans voting for the tax cut haven't even read the damn thing and are going based on faith in the GOP leadership. (And as noted above, belief that corporations will "do the right thing" for the American people.) But really, many of those voting don't care who it helps or doesn't help, they voted because lobbyists and rich donors basically threatened to end fundraising if they didn't pass this thing.

I wouldn't give a shit about these corporate giveaways if they weren't paid for with eliminations in tax deductions used by lower and middle income households, most egregious being the student loan deduction. Without that, good luck being able to afford a college education if mommy and daddy are not rich, especially if you plan to go to graduate school. (Then again many on the right are anti-intellectuals, so this is a win from their perspective.) The mortgage interest deduction has also been slashed in half, which will affect people in high tax states, but you know, those are the "coastal elites" so fuck them, right? Never mind that it's generally agreed tax cuts don't actually boost economic growth. Anyone around in the 80's remembers the Reagan tax cuts and the myth of trickle-down, now more often called "voodoo" economics.

The most hypocritical part of all this is that Republicans harped NON-STOP about the deficit when Obama and Democrats were trying to pass just about ANY legislation, but now that THEY are the ones in charge, they don't care that the deficit will increase by over a trillion dollars.

So why is everyone up in arms? Maybe read up on it and find out yourself.

This is why I firmly believe that people who support this bill are either really fucking stupid or are lying about their position just to provoke others. Either way it's a waste of time bothering with these people.
 

HStallion

Now what's the next step in your master plan?
He singlehandedly woke the democrats up as to the nature, size, and potential debilitating effect of the national debt.

That in itself is a very substantial something.

Seems the GOP forgot about this fact considering how much debt their tax bill would add.
 
This bill is just a thank you to the republican donors.

It literally is just that.

Republicans didn't even know what they were passing other than they needed to. The Republican Congress were given an ultimatum from their donors. Their wealthy donors literally called their representatives and senators and threatened them to pass their tax cuts or else.

This tax bill has nothing to do with helping people. It has nothing to do with anything other than politics and giving more money to the 1% who do not want to fund a government that helps the lower and middle class.

Once again the people who will pay for this bill are the lower and middle classes as they always do with conservative economic policy. Just as Orrin Hatch said, there's no more money for things like children's healthcare.
 

pramod

Banned
It literally is just that.

Once again the people who will pay for this bill are the lower and middle classes as they always do with conservative economic policy. Just as Orrin Hatch said, there's no more money for things like children's healthcare.

Every income group from lower to middle to upper class with get a tax break from this bill, anyone saying otherwise is just flat out lying. Why do people keep lying?

Yes I know in the Senate bill the tax breaks expire in 10 years, but it's just a technicality since no politician would dare not extend them.
 
Every income group from lower to middle to upper class with get a tax break from this bill, anyone saying otherwise is just flat out lying. Why do people keep lying?

Yes I know in the Senate bill the tax breaks expire in 10 years, but it's just a technicality since no politician would dare not extend them.

Where did I lie?

Lower and middle class families will end up paying more elsewhere to make up for the cuts to programs that benefit them, as this tax bill was just the foreplay for the budget cuts coming up here soon.

Make no mistake, Republicans have one goal- to 'starve the beast'. All of this is about not funding the government. Republican donors do not want to fund the government. Look at what happened when their donors got pissed off and gave the Republican Congress an ultimatum- surprise, they passed their tax bill.

They'll dress it up as 'job creation' or some such bullshit, but it's about the rich getting richer while we all get fucked. They pull the wool over your eyes by saving you a few hundred bucks on your federal taxes so you don't get too upset about what's really happening.

The reality is the wealth gap is widening. The 1% is hoarding more, and Republicans are making this crisis worse. This tax bill is just a part of the overall cuts to spending on programs that benefit the lower and middle classes and will exacerbate the already incredible wealth gap. We're going the exact wrong direction, and this tax bill exemplifies that. It's not that Republicans aren't listening- they know. They know what they're doing. Is it possible to buy stock in Dollar Tree and Dollar General stores?
 

krioto

Member
Every income group from lower to middle to upper class with get a tax break from this bill, anyone saying otherwise is just flat out lying. Why do people keep lying?

Yes I know in the Senate bill the tax breaks expire in 10 years, but it's just a technicality since no politician would dare not extend them.
Seriously? How can you type out this drivel when it is demonstrably known that the tax bill will fuck over the poor? It is you and your pathetic ilk that should stop lying.
 
I see why some people are lobbying for this bill not to go through because the bill would harm the poor and the biggest beneficiaries are big businesses.

However, as far as costs, a bill that is estimated to cost $500 billion -$1.7 trillion dollars over the next 10 years isn't a lot. The US economy is putting out $18.57 trillion as of 2016. Therefore, the cost burden of this bill on the US economy will be tiny by the time it fully goes into effect.

Additionally, from 2006-2016 the US ran a deficit of 8.1 trillion and debt held by the public increased nearly 200%. Look at the economy now. It's pretty good under Pres. Trump just like it was pretty good towards the tail end of Pres. Obama's 2nd term.

If people don't want to spend this money giving tax breaks to job creators, then what do you want to do to kick the economy into high gear?

Quality of life will decrease for everyone. Their taxes will go up to be able to support a functioning society while corporations get away with robbery. Secondly, the jobs being created is faux bullshit.

Many more people will be unable to sustain themselves as stagnant wages makes it impossible to pay for basic services. A 40 hour job won't allow you to live a humane life, forcing everyone be desperate for lower taxes, cutting government programs, so private enterprises can take up and charge what they want for everything.
 

Lynn616

Member
Seriously? How can you type out this drivel when it is demonstrably known that the tax bill will fuck over the poor? It is you and your pathetic ilk that should stop lying.

Please explain. I don't see any tax increases in this bill.
 

HStallion

Now what's the next step in your master plan?
Please explain. I don't see any tax increases in this bill.

Just because they don't directly state,"Your taxers are going up 5%" doesn't mean that your taxes won't go up. Not even getting into the tax end of things stuff like removing the healthcare mandate is going to totally fuck a lot of people, as well as losing things like CHIP and so on.
 

Lynn616

Member
Just because they don't directly state,"Your taxers are going up 5%" doesn't mean that your taxes won't go up. Not even getting into the tax end of things stuff like removing the healthcare mandate is going to totally fuck a lot of people, as well as losing things like CHIP and so on.

So no tax increase.

Edit. Oh the no mandate will save me even more money. I have to pay that penalty now because I can't get subsidies on Obama care because my Wife's work coverage. Can't afford to be on wife's insurance because after Obama care her insurance doubled with me in it.
 
Please explain. I don't see any tax increases in this bill.

State and local tax deductions eliminated, so if you're in one of those states you may see an increase.

The real game here is how the lower and middle class will pay the price in the loss or cuts to programs that benefit them, which will be happening here soon. This tax bill is just the smoke and mirrors to make lower and middle class conservatives think this is good for them while it's the already super rich that will get the bulk of the cuts.
 

Lynn616

Member
State and local tax deductions eliminated, so if you're in one of those states you may see an increase.

The real game here is how the lower and middle class will pay the price in the loss or cuts to programs that benefit them, which will be happening here soon. This tax bill is just the smoke and mirrors to make lower and middle class conservatives think this is good for them while it's the already super rich that will get the bulk of the cuts.

Show me these benefit cuts.
 
Show me these benefit cuts.

You're not aware of 'starving the beast'? It's the foundation of conservative economic policy.

The show's going to start in what, a week or two? Soon we'll all find out what they're going to be this time.

edit: see my point about Hatch's shrug about no money to pay for CHIP. It's already started.
 

gohepcat

Banned
So no tax increase.

Edit. Oh the no mandate will save me even more money. I have to pay that penalty now because I can't get subsidies on Obama care because my Wife's work coverage. Can't afford to be on wife's insurance because after Obama care her insurance doubled with me in it.

???

Your wife's insurance doubled when you joined it...cause that's what happens when you join a spouses insurance...or you were on your wife's insurance and it doubled...which just didn't happen.

You do understand that removing the tax penalty but not removing the Obamacare protections means were are in a much worse situation financially than we were pre-Obamacare right?
 

Lynn616

Member
???

Your wife's insurance doubled when you joined it...cause that's what happens when you join a spouses insurance...or you were on your wife's insurance and it doubled...which just didn't happen.

You do understand that removing the tax penalty but not removing the Obamacare protections means were are in a much worse situation financially than we were pre-Obamacare right?

I was on it and had to drop it. It happened. Why would I not just stay on her insurance if it didn't become unaffordable?

Removing the tax Penalty will save me money. That is a fact.
 
Then maybe you should start buying stocks? If not, what's your excuse?

Most people already own stocks, like in their 401k.

So yeah, if stocks go up a lot of people will benefit, not just "rich" people.
Just buy money to make money and you won’t be poor it’s so simple! Oh wait, except 80% of stocks are held by the wealthiest 10%. Because the average joe has a lot of money to throw into stocks right?
 
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