Repub Party
Comments
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Yes, of courseCM189191 said:
If you get $4000The Fixer said:I'm drowning over here in all of these snowflake tears. Should have known better and packed my life jacket.
lower tax rates means more money for individuals - this is a good thing for many americans
And your boss gets $400,000
Are you really better off?0 -
Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
why is everyone assuming rates will go back up in a decade? the democrats will be pushing the boulder uphill if they expect to gain seats by running campaigns around a tax increase. good luck with that0 -
a 9% cut is pretty significant. especially if you extrapolate those savings over close to a decade. lot of money coming the fixer's way thanks to this bill. great stuffGo Beavers said:
If you're not a 1%'er, you're not getting much of a tax break. Anyway, the individual tax rate in the US is relatively low when compared to other countries.The Fixer said:I'm drowning over here in all of these snowflake tears. Should have known better and packed my life jacket.
lower tax rates means more money for individuals - this is a good thing for many americans
And you 'snowflake' reference is interesting. Isn't this notion of 'boo-hoo I pay too much in taxes' what drives the support for the tax cuts?Post edited by The Fixer on0 -
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him0 -
I guess the Tea Party is a sham then? $1,500,000,000,000 added to the deficit. I also guess you haven’t read or understand the key components of the bill? Those reduced rates expire over time so that at the end of 10 years those taxpayers who don’t own corporations see a tax increase. You get something this year but your tax benefit diminishes over time. Unless you realize the bulk of your income from capital gains or corporate taxes. Those remain permanent.The Fixer said:
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him
09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR;
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the rates could also be renewed once they expire in 8 years or so. I love the liberal assumption that the rates are automatically going up. has any politician ever won an election by promoting a massive tax increase? good luck with thatHalifax2TheMax said:
I guess the Tea Party is a sham then? $1,500,000,000,000 added to the deficit. I also guess you haven’t read or understand the key components of the bill? Those reduced rates expire over time so that at the end of 10 years those taxpayers who don’t own corporations see a tax increase. You get something this year but your tax benefit diminishes over time. Unless you realize the bulk of your income from capital gains or corporate taxes. Those remain permanent.The Fixer said:
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him
it has to be tough being associated with a party where the sky is always falling0 -
Could be? Just like there’s going to be 4% sustained growth and trickle down economic theory has been proven to work.The Fixer said:
the rates could also be renewed once they expire in 8 years or so. I love the liberal assumption that the rates are automatically going up. has any politician ever won an election by promoting a massive tax increase? good luck with thatHalifax2TheMax said:
I guess the Tea Party is a sham then? $1,500,000,000,000 added to the deficit. I also guess you haven’t read or understand the key components of the bill? Those reduced rates expire over time so that at the end of 10 years those taxpayers who don’t own corporations see a tax increase. You get something this year but your tax benefit diminishes over time. Unless you realize the bulk of your income from capital gains or corporate taxes. Those remain permanent.The Fixer said:
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him
it has to be tough being associated with a party where the sky is always falling
You must be proud to support a party so full of shit and irresponsibility. Check in a year or so and let us know how you’re doing.09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
no one knows what's going to happen to the tax code leading up to the expiration date of the new rates. liberals are crying about the cuts being temporary without realizing a lot can change in a decade. enjoy the extra money in your paycheck and don't worry about assumptionsHalifax2TheMax said:
Could be? Just like there’s going to be 4% sustained growth and trickle down economic theory has been proven to work.The Fixer said:
the rates could also be renewed once they expire in 8 years or so. I love the liberal assumption that the rates are automatically going up. has any politician ever won an election by promoting a massive tax increase? good luck with thatHalifax2TheMax said:
I guess the Tea Party is a sham then? $1,500,000,000,000 added to the deficit. I also guess you haven’t read or understand the key components of the bill? Those reduced rates expire over time so that at the end of 10 years those taxpayers who don’t own corporations see a tax increase. You get something this year but your tax benefit diminishes over time. Unless you realize the bulk of your income from capital gains or corporate taxes. Those remain permanent.The Fixer said:
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him
it has to be tough being associated with a party where the sky is always falling
You must be proud to support a party so full of shit and irresponsibility. Check in a year or so and let us know how you’re doing.
obama ran up record deficits during his tenure. neither party is responsible -- give me the side that allows me to keep the money I earn0 -
Why not make the corp rates temporary (similar to the capital gains last decade) and make the individual permanent? I'm not splitting hairs, but if deficits were even a modicum of concern, they would have sunset both. Plus, you don't cut taxes when the economy is booming. We just removed a bullet from the tools to combat a recession (which will come, because they always do). Now all we have is the discount rate (which MUST be raised at this point... has to be done otherwise inflation will hit us hard within a year or two).The Fixer said:
no one knows what's going to happen to the tax code leading up to the expiration date of the new rates. liberals are crying about the cuts being temporary without realizing a lot can change in a decade. enjoy the extra money in your paycheck and don't worry about assumptionsHalifax2TheMax said:
Could be? Just like there’s going to be 4% sustained growth and trickle down economic theory has been proven to work.The Fixer said:
the rates could also be renewed once they expire in 8 years or so. I love the liberal assumption that the rates are automatically going up. has any politician ever won an election by promoting a massive tax increase? good luck with thatHalifax2TheMax said:
I guess the Tea Party is a sham then? $1,500,000,000,000 added to the deficit. I also guess you haven’t read or understand the key components of the bill? Those reduced rates expire over time so that at the end of 10 years those taxpayers who don’t own corporations see a tax increase. You get something this year but your tax benefit diminishes over time. Unless you realize the bulk of your income from capital gains or corporate taxes. Those remain permanent.The Fixer said:
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him
it has to be tough being associated with a party where the sky is always falling
You must be proud to support a party so full of shit and irresponsibility. Check in a year or so and let us know how you’re doing.
obama ran up record deficits during his tenure. neither party is responsible -- give me the side that allows me to keep the money I earn
Anyway, this final bill is better for individuals than the first House bill which was a total travesty, particularly for states that have state income taxes. The original was just a cynical piece of shit.
So what have we learned this year?
1. "Values voters" on the right is total bullshit. They lost their ability to try and make that argument after the Trump/Moore fiasco.
2. Deficits don't matter anymore to the right than they do to the left. Hypocrisy exposed again.
And here's the political question... generic republicans lose to generic democrats by 30 points right now. Will the effect of the tax bill be felt soon enough to close that gap or is the wave still going to crash over the R. As of now, the bill is horribly unpopular.0 -
No!The Fixer said:
has any politician ever won an election by promoting a massive tax increase? good luck with thatHalifax2TheMax said:
I guess the Tea Party is a sham then? $1,500,000,000,000 added to the deficit. I also guess you haven’t read or understand the key components of the bill? Those reduced rates expire over time so that at the end of 10 years those taxpayers who don’t own corporations see a tax increase. You get something this year but your tax benefit diminishes over time. Unless you realize the bulk of your income from capital gains or corporate taxes. Those remain permanent.The Fixer said:
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him
https://www.youtube.com/watch?v=Lkbw_BZ8nao
0 -
Shocking!
http://money.cnn.com/2017/12/19/investing/tax-plan-jobs-trump-ceo-yale-survey/index.html
CEOs may like the idea of a big tax cut for businesses, but that doesn't mean they'll use the savings to create American jobs.
Just 14% of CEOs surveyed by Yale University said their companies plan to make large, immediate capital investments in the United States if the tax overhaul passes. Capital investments, like building plants and upgrading equipment, can lead to hiring.
Only a slim majority of the CEOs, 55%, said the Republican tax package should be signed into law. The Yale CEO Summit surveyed 110 prominent business leaders of Fortune 500 and Fortune 50 companies last week.
Powered by SmartAsset.comThe findings, along with other surveys, suggest that the tax plan may not have the dramatic impact on jobs that President Trump and Republicans in Congress have promised.
Trump tweeted over the weekend that "TAX CUTS" will lead to "higher growth, higher wages, and more JOBS!" The GOP tax overhaul would slash the corporate tax rate from 35% to 21% and offer incentives for companies to bring foreign profits back home.
Jeffrey Sonnenfeld, who leads the Yale CEO Summit, said in an interview that it's "astounding" how few companies plan to reinvest their tax savings.
He called the idea of a jobs boom from the tax plan "a lot of smoke and mirrors," especially because the unemployment rate is just 4.1% and companies already have plenty of cash to make investments.
Sonnenfeld declined to name the CEOs who participated in the poll. He said it included "Trump supporters" and former members of the president's now-defunct advisory councils of business leaders.
Related: Why Wells Fargo could be one of tax plan's big winners
There are other signs that tax cuts may not spark a hiring boom. Just 43% of CEOs polled in November by the Business Roundtable, a powerful business lobby that has spent millions on ads championing tax reform, said they plan to ramp up hiring over the next six months. That was despite rising confidence that the Republican tax plan would be enacted.
And at The Wall Street Journal's CEO Council in November, only a few business leaders raised their hands when they were asked whether the tax plan would lead them to increase investment in the United States. Gary Cohn, Trump's top economic adviser, was surprised.
"Why aren't the other hands up?" he asked from on stage.
Wall Street expects companies will use a big chunk of the tax savings to reward shareholders with fatter dividends and stock buybacks, which makes stocks more attractive. That's one reason stocks have surged all year, putting the Dow in sight of 25,000.
"Markets just love it," Michael Block, chief market strategist at Rhino Trading Partners, wrote in a note on Tuesday.
He said it's "malarkey" to think that cutting corporate taxes will boost spending and wages.
"As we've seen in history, this doesn't raise wages," he wrote. "What it does lead to is richer shareholders."
In 2004, when Congress offered tax breaks for companies to bring foreign profits back home, businesses used much of their cash on share buybacks.
The Center on Budget and Policy Priorities later concluded that the 2004 tax holiday "did not produce the promised economic benefits" because companies mostly bought back stock instead of investing to grow their businesses.
Related: How much you will pay under GOP tax plan depends on a lot
Trump tweeted on Tuesday that "stocks and the economy have a long way to go after the Tax Cut Bill is totally understood and appreciated." Specifically, he said "immediate expensing will have a big impact."
Trump was referring to an element of the legislation that would allow businesses to immediately and fully expense most new capital investments. The provision, which would end after five years, should encourage companies to shell out money on new plants and equipment.
JPMorgan CEO Jamie Dimon, who chairs the Business Roundtable, recently predicted that tax reform will "lead to capital expenditures, productivity and wages," though he cautioned it may take time for workers to benefit.
One concern among the CEOs polled by Yale: the price of the GOP tax overhaul. The Joint Committee on Taxation, a nonpartisan scorekeeper for tax bills, estimates the legislation would add about $1 trillion to deficits even after accounting for projected additional economic growth.
Seventy-two percent of CEOs said it's "wrong" for the tax package to sizably add to America's mountain of debt.
www.myspace.com0 -
If history is an indicator...The Juggler said:Shocking!
http://money.cnn.com/2017/12/19/investing/tax-plan-jobs-trump-ceo-yale-survey/index.html
CEOs may like the idea of a big tax cut for businesses, but that doesn't mean they'll use the savings to create American jobs.
Just 14% of CEOs surveyed by Yale University said their companies plan to make large, immediate capital investments in the United States if the tax overhaul passes. Capital investments, like building plants and upgrading equipment, can lead to hiring.
Only a slim majority of the CEOs, 55%, said the Republican tax package should be signed into law. The Yale CEO Summit surveyed 110 prominent business leaders of Fortune 500 and Fortune 50 companies last week.
Powered by SmartAsset.comThe findings, along with other surveys, suggest that the tax plan may not have the dramatic impact on jobs that President Trump and Republicans in Congress have promised.
Trump tweeted over the weekend that "TAX CUTS" will lead to "higher growth, higher wages, and more JOBS!" The GOP tax overhaul would slash the corporate tax rate from 35% to 21% and offer incentives for companies to bring foreign profits back home.
Jeffrey Sonnenfeld, who leads the Yale CEO Summit, said in an interview that it's "astounding" how few companies plan to reinvest their tax savings.
He called the idea of a jobs boom from the tax plan "a lot of smoke and mirrors," especially because the unemployment rate is just 4.1% and companies already have plenty of cash to make investments.
Sonnenfeld declined to name the CEOs who participated in the poll. He said it included "Trump supporters" and former members of the president's now-defunct advisory councils of business leaders.
Related: Why Wells Fargo could be one of tax plan's big winners
There are other signs that tax cuts may not spark a hiring boom. Just 43% of CEOs polled in November by the Business Roundtable, a powerful business lobby that has spent millions on ads championing tax reform, said they plan to ramp up hiring over the next six months. That was despite rising confidence that the Republican tax plan would be enacted.
And at The Wall Street Journal's CEO Council in November, only a few business leaders raised their hands when they were asked whether the tax plan would lead them to increase investment in the United States. Gary Cohn, Trump's top economic adviser, was surprised.
"Why aren't the other hands up?" he asked from on stage.
Wall Street expects companies will use a big chunk of the tax savings to reward shareholders with fatter dividends and stock buybacks, which makes stocks more attractive. That's one reason stocks have surged all year, putting the Dow in sight of 25,000.
"Markets just love it," Michael Block, chief market strategist at Rhino Trading Partners, wrote in a note on Tuesday.
He said it's "malarkey" to think that cutting corporate taxes will boost spending and wages.
"As we've seen in history, this doesn't raise wages," he wrote. "What it does lead to is richer shareholders."
In 2004, when Congress offered tax breaks for companies to bring foreign profits back home, businesses used much of their cash on share buybacks.
The Center on Budget and Policy Priorities later concluded that the 2004 tax holiday "did not produce the promised economic benefits" because companies mostly bought back stock instead of investing to grow their businesses.
Related: How much you will pay under GOP tax plan depends on a lot
Trump tweeted on Tuesday that "stocks and the economy have a long way to go after the Tax Cut Bill is totally understood and appreciated." Specifically, he said "immediate expensing will have a big impact."
Trump was referring to an element of the legislation that would allow businesses to immediately and fully expense most new capital investments. The provision, which would end after five years, should encourage companies to shell out money on new plants and equipment.
JPMorgan CEO Jamie Dimon, who chairs the Business Roundtable, recently predicted that tax reform will "lead to capital expenditures, productivity and wages," though he cautioned it may take time for workers to benefit.
One concern among the CEOs polled by Yale: the price of the GOP tax overhaul. The Joint Committee on Taxation, a nonpartisan scorekeeper for tax bills, estimates the legislation would add about $1 trillion to deficits even after accounting for projected additional economic growth.
Seventy-two percent of CEOs said it's "wrong" for the tax package to sizably add to America's mountain of debt.
Cant legislate re-investment...
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The problem with this country is that the national deficit is just a ghost. You can't see it and no one has felt the effect of it so what does it matter if we add another 1.5 trillion? It sure sounds big and scary, but the monster in the dark is only scary if there is some type of proof or fear that it will hurt you. Who here has felt the effect of our massive debt? It's something I think about and worry about for our future, but it seems at least half the country doesn't give a shit because we have short memories and are only interested in "how does it benefit me". It feels good today so who cares about tomorrow. We run the country like a hormonal teenager. It will only get worse as physical money becomes more and more non-existent.
So yeah, call me a "snowflake" and tell me I think the sky is falling because I use common sense and can think beyond the next 5 years. If only I could just sit back and enjoy that additional 3.5% I'll be able to put in my pocket. Think about it, if you as the lowly tax payer are excited to just put that additional money in to your pocket, why do you think the CEO of a multi-million dollar business isn't going to do the same? He/She doesn't care anymore about country or job growth than you do. It's all about the bottom line. The problem with a long con like this is that it takes you too long to know you've been duped. You'll even trot out lame excuses like, "You don't know what's going to happen," right up until the end even though the what you do know isn't good and will be largely negative. Human greed is alive and well.It's a hopeless situation...0 -
4.1% unemployment is basically full employment. There are 6 million unfilled jobs in the US, most because the american worker doesn't have the skills required to fill them. I can't wait for the repubes to blame the failure of this tax bill and the recession on Obama and Hillary. The repubes own it. And they own Team Trump Treason. Which, by the way, is going to blow a gasket later this week. Should make for fun television viewing.09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR;
Libtardaplorable©. And proud of it.
Brilliantati©0 -
^^ correct..this won't touch unemployment at all. It's inflation that should be of concern.0
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We will be okay, we have the Fed, the world currency, the printing presses and military bases all over the planet. The only thing you should fear is peace. If peace ever happens and breaks out all over the world, then yes were fukt. I dont see that happening in you grandkids lifetime thou.tbergs said:The problem with this country is that the national deficit is just a ghost. You can't see it and no one has felt the effect of it so what does it matter if we add another 1.5 trillion? It sure sounds big and scary, but the monster in the dark is only scary if there is some type of proof or fear that it will hurt you. Who here has felt the effect of our massive debt? It's something I think about and worry about for our future, but it seems at least half the country doesn't give a shit because we have short memories and are only interested in "how does it benefit me". It feels good today so who cares about tomorrow. We run the country like a hormonal teenager. It will only get worse as physical money becomes more and more non-existent.
So yeah, call me a "snowflake" and tell me I think the sky is falling because I use common sense and can think beyond the next 5 years. If only I could just sit back and enjoy that additional 3.5% I'll be able to put in my pocket. Think about it, if you as the lowly tax payer are excited to just put that additional money in to your pocket, why do you think the CEO of a multi-million dollar business isn't going to do the same? He/She doesn't care anymore about country or job growth than you do. It's all about the bottom line. The problem with a long con like this is that it takes you too long to know you've been duped. You'll even trot out lame excuses like, "You don't know what's going to happen," right up until the end even though the what you do know isn't good and will be largely negative. Human greed is alive and well.
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Which party is that? Here, let me give you a hint:The Fixer said:
no one knows what's going to happen to the tax code leading up to the expiration date of the new rates. liberals are crying about the cuts being temporary without realizing a lot can change in a decade. enjoy the extra money in your paycheck and don't worry about assumptionsHalifax2TheMax said:
Could be? Just like there’s going to be 4% sustained growth and trickle down economic theory has been proven to work.The Fixer said:
the rates could also be renewed once they expire in 8 years or so. I love the liberal assumption that the rates are automatically going up. has any politician ever won an election by promoting a massive tax increase? good luck with thatHalifax2TheMax said:
I guess the Tea Party is a sham then? $1,500,000,000,000 added to the deficit. I also guess you haven’t read or understand the key components of the bill? Those reduced rates expire over time so that at the end of 10 years those taxpayers who don’t own corporations see a tax increase. You get something this year but your tax benefit diminishes over time. Unless you realize the bulk of your income from capital gains or corporate taxes. Those remain permanent.The Fixer said:
you must have missed trump's presidential campaign, which was predicated on the largest tax cut in american history.The Juggler said:Halifax2TheMax said:
I’m in the same boat except in the final year I’ll pay more and as my income should rise between now and then, that chunk in years 10-15 and beyond will more than make up for what I gained. In addition, the “savings” I’ll enjoy will be banked and I’ll increase my 401K contributions in an effort to lessen my tax liability and save that money for when I get fucked in 10 years. The money I save from my take home pay will most likely be spent overseas following PJ so I won’t be contributing to the fantasy of 4% growth in GDP.The Juggler said:Halifax2TheMax said:All those folks who aren't 1%'ers that "love" this bill, will rue the day. Beginning when they realize it phases out over the 10 years while the corporate cut is permanent. Have fun fixing those potholes, hiring more cops, affording your health insurance and seeing your local and state taxes increase. All of which will leave you with less. And enjoy watching the 1% gain an even larger percentage of overall wealth/income distribution. PT Barnum said it best.
My wife and I are in line for a nice tax cut here....but we know it's fools gold. It's temporary and we're all going to be paying for it in the not so distant future anyway. Should be obvious to everyone but rushing it through so fast without having hearings/going through regular order is because they just want to say they did something/anything legislatively this year. It's irresponsible politics from the party, who up until 11 months ago claimed they cared about our national deficit........what happened to that party?
Republicans are just hoping people are stupid/ignorant to this stuff and only concerned about an immediate tax cut which will help them in the midterms. That's all this is about-politics.
he delivered and the liberals are freaking out. oh no, we are going to have more money!! how dare him
it has to be tough being associated with a party where the sky is always falling
You must be proud to support a party so full of shit and irresponsibility. Check in a year or so and let us know how you’re doing.
obama ran up record deficits during his tenure. neither party is responsible -- give me the side that allows me to keep the money I earn
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AT&T excludedThe Juggler said:Shocking!
http://money.cnn.com/2017/12/19/investing/tax-plan-jobs-trump-ceo-yale-survey/index.html
CEOs may like the idea of a big tax cut for businesses, but that doesn't mean they'll use the savings to create American jobs.
Just 14% of CEOs surveyed by Yale University said their companies plan to make large, immediate capital investments in the United States if the tax overhaul passes. Capital investments, like building plants and upgrading equipment, can lead to hiring.
Only a slim majority of the CEOs, 55%, said the Republican tax package should be signed into law. The Yale CEO Summit surveyed 110 prominent business leaders of Fortune 500 and Fortune 50 companies last week.
Powered by SmartAsset.comThe findings, along with other surveys, suggest that the tax plan may not have the dramatic impact on jobs that President Trump and Republicans in Congress have promised.
Trump tweeted over the weekend that "TAX CUTS" will lead to "higher growth, higher wages, and more JOBS!" The GOP tax overhaul would slash the corporate tax rate from 35% to 21% and offer incentives for companies to bring foreign profits back home.
Jeffrey Sonnenfeld, who leads the Yale CEO Summit, said in an interview that it's "astounding" how few companies plan to reinvest their tax savings.
He called the idea of a jobs boom from the tax plan "a lot of smoke and mirrors," especially because the unemployment rate is just 4.1% and companies already have plenty of cash to make investments.
Sonnenfeld declined to name the CEOs who participated in the poll. He said it included "Trump supporters" and former members of the president's now-defunct advisory councils of business leaders.
Related: Why Wells Fargo could be one of tax plan's big winners
There are other signs that tax cuts may not spark a hiring boom. Just 43% of CEOs polled in November by the Business Roundtable, a powerful business lobby that has spent millions on ads championing tax reform, said they plan to ramp up hiring over the next six months. That was despite rising confidence that the Republican tax plan would be enacted.
And at The Wall Street Journal's CEO Council in November, only a few business leaders raised their hands when they were asked whether the tax plan would lead them to increase investment in the United States. Gary Cohn, Trump's top economic adviser, was surprised.
"Why aren't the other hands up?" he asked from on stage.
Wall Street expects companies will use a big chunk of the tax savings to reward shareholders with fatter dividends and stock buybacks, which makes stocks more attractive. That's one reason stocks have surged all year, putting the Dow in sight of 25,000.
"Markets just love it," Michael Block, chief market strategist at Rhino Trading Partners, wrote in a note on Tuesday.
He said it's "malarkey" to think that cutting corporate taxes will boost spending and wages.
"As we've seen in history, this doesn't raise wages," he wrote. "What it does lead to is richer shareholders."
In 2004, when Congress offered tax breaks for companies to bring foreign profits back home, businesses used much of their cash on share buybacks.
The Center on Budget and Policy Priorities later concluded that the 2004 tax holiday "did not produce the promised economic benefits" because companies mostly bought back stock instead of investing to grow their businesses.
Related: How much you will pay under GOP tax plan depends on a lot
Trump tweeted on Tuesday that "stocks and the economy have a long way to go after the Tax Cut Bill is totally understood and appreciated." Specifically, he said "immediate expensing will have a big impact."
Trump was referring to an element of the legislation that would allow businesses to immediately and fully expense most new capital investments. The provision, which would end after five years, should encourage companies to shell out money on new plants and equipment.
JPMorgan CEO Jamie Dimon, who chairs the Business Roundtable, recently predicted that tax reform will "lead to capital expenditures, productivity and wages," though he cautioned it may take time for workers to benefit.
One concern among the CEOs polled by Yale: the price of the GOP tax overhaul. The Joint Committee on Taxation, a nonpartisan scorekeeper for tax bills, estimates the legislation would add about $1 trillion to deficits even after accounting for projected additional economic growth.
Seventy-two percent of CEOs said it's "wrong" for the tax package to sizably add to America's mountain of debt.
Once tax reform is signed into law, AT&T* plans to invest an additional $1 billion in the United States in 2018 and pay a special $1,000 bonus to more than 200,000 AT&T U.S. employees — all union-represented, non-management and front-line managers. If the President signs the bill before Christmas, employees will receive the bonus over the holidays.
“Congress, working closely with the President, took a monumental step to bring taxes paid by U.S. businesses in line with the rest of the industrialized world,” said Randall Stephenson, AT&T chairman and CEO. “This tax reform will drive economic growth and create good-paying jobs. In fact, we will increase our U.S. investment and pay a special bonus to our U.S. employees.”
https://www.businesswire.com/news/home/20171220005943/en/Tax-Reform-ATT-Plans-Increase-U.S.-Capital
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I would love to see Trump attempt to explain this bill in an interview with an actual journalist..........oh wait, he hasn't done one of those since he couldn't handle John Dickerson's questions and walked away from him 7 months ago:
https://www.youtube.com/watch?v=vqt164_Je00
Post edited by The Juggler onwww.myspace.com0 -
Lindorff does a good job.The Juggler said:I would love to see Trump attempt to explain this bill in an interview with an actual reporter..........oh wait, he hasn't done one of those since he couldn't handle John Dickerson's questions and walked away from him 7 months ago:https://www.youtube.com/watch?v=vqt164_Je00
https://www.counterpunch.org/2017/12/20/the-big-lie-about-the-tax-bill-why-bosses-will-never-raise-wages/And yet, I challenge anyone to find a serious discussion of this in the corporate media, where nobody is pointing out the reality that at no time in history have capitalists willingly parted with any of their profits to raise worker compensation unless forced to by worker demands, and nobody is pointing out that the claim that “tax cuts pay for themselves” was already tried and exposed as a fraud during the Reagan administration when it was known as “supply-side theory.”
There is going to be no gain in wages as a result of passage of this outrage of a tax “reform” bill. And that means it’s really all just a big wet-kiss transfer of public funds to the rich and one which, far from “paying for itself through new economic growth” as the Trump claim goes, will just end up adding another $1.5 trillion to the federal deficit, while further widening the nation’s unprecedented income chasm.
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