Author Topic: Tax Cut Predictions?  (Read 1216 times)

0 Members and 1 Guest are viewing this topic.

Offline Id82

  • The Beast
  • *****
  • Posts: 810
Tax Cut Predictions?
« on: December 19, 2017, 11:33:28 am »
So it's seeming highly likely that the Republicans are going to pass this tax reform.
Does anyone have any predictions on how this is going to effect the economy?
Is this going to be another repeat of the economic recovery tax act of 1981? With an increase in high interest rates and a ballooning deficit and tripling the nation debt?
The tax cuts could be argued favorably at the time due to the country going through a recession, but the tax cuts were probably way too much and favored the wealthy class and due to these things happening Reagan increased taxes many times during his presidency.

As for now do we see much of the same happening? It doesn't seem to make sense to cut taxes now due to the economy doing well. Will there a be a boom that the Republicans are predicting? or will it lead to more problems and more inequality? I'm not an expert on taxes or tax cuts so I really just want to know what kind of effects this will have?

Offline dpareja

  • The Beast
  • *****
  • Posts: 4670
Re: Tax Cut Predictions?
« Reply #1 on: December 19, 2017, 11:39:01 am »
1920s: Cut taxes on the rich, deregulate corporations, economy booms.

1930s: Oops.

Early 1980s: Cut taxes on the rich, deregulate corporations, economy booms.

Late 1980s: Oops.

Early 2000s: Cut taxes on the rich, deregulate corporations, economy booms.

Late 2000s: Oops.

It's almost like this has been tried before.
Quote from: Jordan Duram
It doesn't concern you, Sister, that kind of absolutist view of the universe? Right and wrong determined solely by a single all-knowing, all powerful being whose judgment cannot be questioned and in whose name the most horrendous acts can be sanctioned without appeal?

Quote from: Supreme Court of Canada
Being required by someone else’s religious beliefs to behave contrary to one’s sexual identity is degrading and disrespectful.

Offline Id82

  • The Beast
  • *****
  • Posts: 810
Re: Tax Cut Predictions?
« Reply #2 on: December 19, 2017, 11:45:27 am »
It's almost like that definition of insanity which isn't actually the definition of insanity but people use it to describe  people doing the same thing over and over again and expecting different results are crazy.

I wanted to see predictions of how this was going to play out? Are we just waiting for another economic recession or depression at the end of Trump's term/terms?

Offline ironbite

  • Overlord of all that is good in Iacon City
  • Kakarot
  • ******
  • Posts: 10177
  • Gender: Male
Re: Tax Cut Predictions?
« Reply #3 on: December 19, 2017, 03:15:10 pm »
WHERE'S MY FUCKING LIKE BUTTON!?

Offline dpareja

  • The Beast
  • *****
  • Posts: 4670
Re: Tax Cut Predictions?
« Reply #4 on: December 19, 2017, 04:04:20 pm »
https://www.youtube.com/watch?v=6si0EYx_Yc8

It appears that the tax-increase/reparations/fuck-blue-states bill will pass Congress and be signed into law by the President.

Bob Corker, who previously had been opposed to the bill on the grounds that it added too much to the deficit, has flipped his vote. In what I am sure is a complete coincidence, a tax break for people whose wealth is primarily held in real estate was increased late in the conference committee discussions, which will just incidentally save Sen. Corker over $1,000,000 per year in taxes. (Never mind what it will save Trump.)

Apparently, Paul Ryan was seen "skipping through the halls of Congress."
Quote from: Jordan Duram
It doesn't concern you, Sister, that kind of absolutist view of the universe? Right and wrong determined solely by a single all-knowing, all powerful being whose judgment cannot be questioned and in whose name the most horrendous acts can be sanctioned without appeal?

Quote from: Supreme Court of Canada
Being required by someone else’s religious beliefs to behave contrary to one’s sexual identity is degrading and disrespectful.

Offline Id82

  • The Beast
  • *****
  • Posts: 810
Re: Tax Cut Predictions?
« Reply #5 on: December 19, 2017, 04:13:57 pm »
I'm sure Paul Ryan skipped back to his office took out his photo of Ayn Rand and a copy of Atlas shrugged and jerked off into a 400 dollar handkerchief he keeps in his desk after passing this garbage.
I bet if they could they would only have passed tax cuts for the wealthy but to not seem like total fucking scum bags they included some tiny tax cuts for the middle class that are set to expire in a few years while the rich can keep reaping the benefits permanently.

Offline davedan

  • Lord Cracker
  • The Beast
  • *****
  • Posts: 2998
Re: Tax Cut Predictions?
« Reply #6 on: December 19, 2017, 04:31:28 pm »
Paul Ryan will quit now in 2018.

Offline dpareja

  • The Beast
  • *****
  • Posts: 4670
Re: Tax Cut Predictions?
« Reply #7 on: December 19, 2017, 04:37:50 pm »
Paul Ryan will quit now in 2018.

Probably partly because he's done what he came to Washington to do (implement Ayn Rand's vision) and partly because he might actually face a real challenger for his seat.

EDIT: Seen from a partisan Republican (he'd probably resent that, but he is):

Quote
Yeah when I saw the initial House Bill I about went through the roof. Seeing the finished product though, I've done some quick math and the fact that I'm well within the eligibility bracket for the full child tax credit makes my life a LOT easier. Overall, this bill is a bit of a 'fuck you' to high tax (generally, but not universally, blue) States, but the expanded child credit helps a lot, and even the $10k in state taxes helps on the margins.

Bottom line: I'll take it.

EDIT #2: http://www.cbc.ca/news/world/tax-bill-house-senate-1.4456077

Oops, looks like the GOP has to go back to the drawing board for a day.
« Last Edit: December 19, 2017, 06:08:02 pm by dpareja »
Quote from: Jordan Duram
It doesn't concern you, Sister, that kind of absolutist view of the universe? Right and wrong determined solely by a single all-knowing, all powerful being whose judgment cannot be questioned and in whose name the most horrendous acts can be sanctioned without appeal?

Quote from: Supreme Court of Canada
Being required by someone else’s religious beliefs to behave contrary to one’s sexual identity is degrading and disrespectful.

Offline Tolpuddle Martyr

  • The Beast
  • *****
  • Posts: 3266
  • Have you got thumbs? SHOW ME YOUR FUCKING THUMBS!
Re: Tax Cut Predictions?
« Reply #8 on: December 19, 2017, 09:23:29 pm »
From the point of view of the billionaires, they were still rich when the economy asploded after being their personal playpens in the 30s, late aughts et al. It was every else that got screwed.

Offline Id82

  • The Beast
  • *****
  • Posts: 810
Re: Tax Cut Predictions?
« Reply #9 on: December 20, 2017, 01:42:42 pm »
Welp that's that. Republicans just rushed through a senseless tax reform that they'll be bragging about for years despite the damages it will most likely cause especially when they probably push for entitlement reform next year to pay for all of the tax cuts they want to implement. It feels like they just threw something at the wall and are hoping it will work instead of really thinking about it. I really really hope this is pissing off a lot of people but I haven't been able to find any responses to it online.
If Dems take back the house or senate next year I don't know if there is anything they change taxes. What am I saying they're as much in bed with the corporations as the Republicans are.

Offline ironbite

  • Overlord of all that is good in Iacon City
  • Kakarot
  • ******
  • Posts: 10177
  • Gender: Male
Re: Tax Cut Predictions?
« Reply #10 on: December 20, 2017, 03:44:03 pm »
From the point of view of the billionaires, they were still rich when the economy asploded after being their personal playpens in the 30s, late aughts et al. It was every else that got screwed.

And that's only because, despite the economic downturn, the dollar was still strong.  I have a feeling this might be it for the dollar.

Ironbite-and then everyone's fucked.

Offline dpareja

  • The Beast
  • *****
  • Posts: 4670
Re: Tax Cut Predictions?
« Reply #11 on: December 20, 2017, 07:14:24 pm »
Oh man, hearing Mike Pence go on about how great this tax cut bill was... "All Trump wants is for you to verbally fellate him for three minutes and ten seconds."

EDIT:

« Last Edit: December 20, 2017, 07:35:38 pm by dpareja »
Quote from: Jordan Duram
It doesn't concern you, Sister, that kind of absolutist view of the universe? Right and wrong determined solely by a single all-knowing, all powerful being whose judgment cannot be questioned and in whose name the most horrendous acts can be sanctioned without appeal?

Quote from: Supreme Court of Canada
Being required by someone else’s religious beliefs to behave contrary to one’s sexual identity is degrading and disrespectful.

Offline Id82

  • The Beast
  • *****
  • Posts: 810
Re: Tax Cut Predictions?
« Reply #12 on: December 20, 2017, 07:36:31 pm »
The thing is Trump has really had little to do with this legislation. His presidency has really been ruled by Paul Ryan and what Paul Ryan wants so far. This was all Paul Ryan. Trump is just the idiot CEO who wants his corporation to make money and will take any victory that gives it to him. Trump can stand up there and say he accomplished a great victory for his administration but the Republican Congress is really sitting at the side saying aren't you such a good boy. You did a real good job good for you with a little pat on the head.

Offline dpareja

  • The Beast
  • *****
  • Posts: 4670
Re: Tax Cut Predictions?
« Reply #13 on: December 20, 2017, 07:42:03 pm »
It's mostly run by Paul Ryan, except for all the young lunatic conservative judges Trump's putting on the federal bench. That's all McConnell.
Quote from: Jordan Duram
It doesn't concern you, Sister, that kind of absolutist view of the universe? Right and wrong determined solely by a single all-knowing, all powerful being whose judgment cannot be questioned and in whose name the most horrendous acts can be sanctioned without appeal?

Quote from: Supreme Court of Canada
Being required by someone else’s religious beliefs to behave contrary to one’s sexual identity is degrading and disrespectful.

Offline Cloud3514

  • The Beast
  • *****
  • Posts: 1587
  • Gender: Male
  • 404: Personal text not found.
Re: Tax Cut Predictions?
« Reply #14 on: December 20, 2017, 11:57:54 pm »
AT&T has announced that they're going to give 200,000 of their employees a $1000 bonus. Reminder: $200,000,000 isn't even 1% of the taxes they pay.
Who needs a signature?