Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

[FadeToBlack&Gold]

They finally got their Arctic Wildlife Refuge drilling passed. Lisa Murkowski supports it.

https://www.washingtontimes.com/news...in-final-gop-/

So, there's another Republican off the list of potential saviors.

Drill, baby, drill!

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Censorship, racism, plutocracy? Yawn. This is what will cause the revolution.

[FadeToBlack&Gold]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Fixed that. US hasn't been capitalist since the Industrial Revolution.

Ah yes, when the poor were poor, and the middle class barely existed. Glorious!

[aparch]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Kurt Eichenwald:

Under new tax bill, an American company's operations in Ireland taxes will fall from 37% (with 25% paid to USA) down to 12.5%. All of that tax goes to Ireland. If they stay in US, they pay 20%.

Moving to Ireland directly adds 7.5% to their profits. Make Ireland Great Again.

https://twitter.com/kurteichenwald/s...17801002614784

[Kepler]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Kurt Eichenwald:

Under new tax bill, an American company's operations in Ireland taxes will fall from 37% (with 25% paid to USA) down to 12.5%. All of that tax goes to Ireland. If they stay in US, they pay 20%.

Moving to Ireland directly adds 7.5% to their profits. Make Ireland Great Again.

https://twitter.com/kurteichenwald/s...17801002614784

This is hilarious.

[dxmnkd316]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

The most dangerous aspect of this tax bill was explained to me by my dad.

Generally, we see recessions on average once every six years. We haven’t seen one since 2008-2009. One of the ways we generally shortstop a recession is by cutting taxes. Then you raise them after the recession back to normal levels. If we cut taxes to the extent we’re doing now, we don’t have that as an option if and when a recession hits. There just isn’t enough left to cut in any meaningful way without crippling the budget.

We could be in very dire straits if we have a recession in the next few years. And we’re already overdue.

[FadeToBlack&Gold]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

The most dangerous aspect of this tax bill was explained to me by my dad.

Generally, we see recessions on average once every six years. We haven’t seen one since 2008-2009. One of the ways we generally shortstop a recession is by cutting taxes. Then you raise them after the recession back to normal levels. If we cut taxes to the extent we’re doing now, we don’t have that as an option if and when a recession hits. There just isn’t enough left to cut in any meaningful way without crippling the budget.

We could be in very dire straits if we have a recession in the next few years. And we’re already overdue.

I told a friend more knowledgeable about the markets than I, that we'd soon have a recession, or at least DJIA/NASDAQ/S&P corrections, 3 years ago; he agreed, but we still haven't.

If you thought 2008 was bad, this next crash is going to be massive - probably Black Tuesday 1929 level. Hold your ballcaps and beanies, everyone.

[dxmnkd316]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I’m not sure I believe that. But it’s not going to tickle.

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

The most dangerous aspect of this tax bill was explained to me by my dad.

Generally, we see recessions on average once every six years. We haven’t seen one since 2008-2009. One of the ways we generally shortstop a recession is by cutting taxes. Then you raise them after the recession back to normal levels. If we cut taxes to the extent we’re doing now, we don’t have that as an option if and when a recession hits. There just isn’t enough left to cut in any meaningful way without crippling the budget.

We could be in very dire straits if we have a recession in the next few years. And we’re already overdue.

Correct. Another reason this tax cut is insane.

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Trickle down will be the law of the land this afternoon. Enjoy being Kansas everyone.

[GoldyDad2B]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

Hark, hark, what is that we hear as the new GOP frolics merrily through the halls of Congress? Why, 'tis the tinkle of Jacob Marley's chains. And what of the other clanking? The new chains will bear weight in years to come, whispers the dark shadow just over there.

[alfablue]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

The most dangerous aspect of this tax bill was explained to me by my dad.

Generally, we see recessions on average once every six years. We haven’t seen one since 2008-2009. One of the ways we generally shortstop a recession is by cutting taxes. Then you raise them after the recession back to normal levels. If we cut taxes to the extent we’re doing now, we don’t have that as an option if and when a recession hits. There just isn’t enough left to cut in any meaningful way without crippling the budget.

We could be in very dire straits if we have a recession in the next few years. And we’re already overdue.

The people who would really need relief in a recession/depression would not need any new taxes. And the people who are rarely harmed by a depression/recession can be taxed quite a bit- they are getting more than enough relief to raise the taxes on them- including the capitol gains taxes being treated like normal income. One would harm the stock market numbers, but since they don't actually reflect the economy, and they will go down, it's not that big of a deal.

One thing to note- if this does result in a recession, on a federal level, it will be 3 for 3- "trickle down economics" cause recessions. Sadly, the morons who claim they are fiscally conservative are to dumb to understand that.

[alfablue]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

One other note- it's funny that R's are talking about entitlements being cut for social security and medicade, when they just gave a trillion dollar entitlement to the rich and corporations.

And for all of the D bashing of deficit spending vs. complaining about what R's are doing.... what President Obama did was a temporary spending program to put money directly in the hands of consumers so that they can keep the economy going- important words being temporary and direct. This tax bill is largely permanent deficit spending and it's incredibly indirect to the majority of consumers. Not even remotely the same concern.

[ScoobyDoo]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

One other note- it's funny that R's are talking about entitlements being cut for social security and medicade, when they just gave a trillion dollar entitlement to the rich and corporations.

And for all of the D bashing of deficit spending vs. complaining about what R's are doing.... what President Obama did was a temporary spending program to put money directly in the hands of consumers so that they can keep the economy going- important words being temporary and direct. This tax bill is largely permanent deficit spending and it's incredibly indirect to the majority of consumers. Not even remotely the same concern.

Yet, they won the argument. They won the House. They won the Senate. They own the Supreme Court. Never forget that. No matter how wrong they are, they win.

[Drew S.]

Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

I’m interested to see how the foreign earnings piece shakes out. For strategic reasons it would be nice if we moved production back here. The rate stuff is a bunch of garbage.