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Tax Cut Predictions?

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Id82:
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?

dpareja:
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.

Id82:
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?

ironbite:
WHERE'S MY FUCKING LIKE BUTTON!?

dpareja:
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."

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