foregoneconclusion

9secondkox2 said: Oh, Tax cuts are bad thing now? LOL

Tax cuts are definitely "a bad thing" when you're claiming to do them as a stimulus for the general economy. Every dollar that is put towards the cut will only generate a fraction of a dollar in stimulus (meaning direct spending into the economy on goods and services). Why? Because recipients won't actually spend 100% of the cut on goods and services. They'll save some of the money. That fraction of a dollar gets even smaller if you give the cuts to people who are wealthy or to corporations.
 
The more effective way to stimulate the economy is to do direct spending programs like infrastructure. Every dollar that goes towards infrastructure will generate more than a dollar in stimulus. Why? Because 100% of the money will be spent on the infrastructure project and the completed project will contribute to future economic growth beyond the original money that was spent. An example of a country that focused on infrastructure spending and not tax cuts to stimulate growth is China.

libertyandfree said:

foregoneconclusion said:

jfabula1 said:

quakerotis said:

Like so much of a bribery victim's fealty, this will amount to no investment, no jobs, but plenty of time for T**** (the convicted felon and sexual predator) to lead his boy Cook around on a leash.

At least his trying instead of giving away your earned tax dollars. Get over it dude, you’re still crying of your election lost.
Tim will worked harder for this great American tax paying company. 

Sounds like you're not aware that the GOP plans on doing a $4.5 trillion tax cut that primarily benefits corporations and the wealthy. They're going to extend the $2 trillion cut from 2017 and add another $2.5 trillion on top. Keep in mind that the $2 trillion cut from 2017 was in place during the entire Biden administration. So if you didn't like the Biden economy,  the ineffectiveness of that tax cut was part of it. 

  The new taxcuts are mostly an extension of the exisiting tax law from 2017.  The lowering of the corporate taxes brought the US from 2nd highest in the OECD to the middle of the pack and stopped the corporate inversions, which every liberal conveniently ignores.  BTW, tax receipts are at al time highs.  Seems obvious but apparently needs to be stated, that all tax cuts go mostly to those who earn more money because they also pay the highest amount taxes and at the highest tax rates (The US has a highly progressive income tax system).  This very simple 4th grade mathematics seems beyond most liberals and Democratic Congress peoples comprehension - or so they pretend.  They beleive a tax cut means people that pay zero or almost zero in income taxes need to get thousands of dollars back from the govt, tax cuts are for people that pay taxes, it's not govt welfare.  

"The new taxcuts are mostly an extension of the exisiting tax law from 2017."

The 2017 cuts were $2 trillion. The 2025 cuts would add another $2.5 trillion on top of that. Keep in mind that the stimulus package at the height of the Great Recession was less than $900 billion.

"The lowering of the corporate taxes brought the US from 2nd highest in the OECD to the middle of the pack"

That's the statutory rate. Corporate taxes as a share of GDP in the United States are 1.6%. Only Italy has a lower rate than that in the G7.

"Seems obvious but apparently needs to be stated, that all tax cuts go mostly to those who earn more money because they also pay the highest amount taxes and at the highest tax rates (The US has a highly progressive income tax system)."

There is a statutory rate and there is an effective rate. The effective rate for large/profitable corporations in the U.S. is only around 9%. 

"This very simple 4th grade mathematics seems beyond most liberals and Democratic Congress peoples comprehension - or so they pretend.  They beleive a tax cut means people that pay zero or almost zero in income taxes"

Individual income taxes are about 52% of U.S. revenue. Social Security and Medicare taxes are around 35%. Corporate income taxes are around 9%. Use your own math skills to determine which number is the lowest. 

eriamjh said:

Texas may have a lot to do with energy costs, also.   They’re huge on solar in spite of being red.  

Texas is going to finally connect their notoriously erratic energy grid to other states...courtesy of (gasp) the Biden administration.

https://spectrumlocalnews.com/tx/south-texas-el-paso/news/2024/10/04/texas--grid-is-closer-to-being-connected-to-the-u-s--grid

jfabula1 said:

quakerotis said:

Like so much of a bribery victim's fealty, this will amount to no investment, no jobs, but plenty of time for T**** (the convicted felon and sexual predator) to lead his boy Cook around on a leash.

At least his trying instead of giving away your earned tax dollars. Get over it dude, you’re still crying of your election lost.
Tim will worked harder for this great American tax paying company. 

Sounds like you're not aware that the GOP plans on doing a $4.5 trillion tax cut that primarily benefits corporations and the wealthy. They're going to extend the $2 trillion cut from 2017 and add another $2.5 trillion on top. Keep in mind that the $2 trillion cut from 2017 was in place during the entire Biden administration. So if you didn't like the Biden economy,  the ineffectiveness of that tax cut was part of it. 

blastdoor said:

We are likely to soon find out if these tariffs are a shakedown for bribes or if Trump is really serious about them. 

I used to think they were mostly a shakedown but now I think he might be serious 

Trump was serious about tariffs in his 1st term and all it resulted in was gigantic taxpayer funded bailouts for the farming industry. Talk about inefficiency and waste…


https://www.forbes.com/sites/stuartanderson/2020/01/21/trump-tariff-aid-to-farmers-cost-more-than-us-nuclear-forces/