Trump's tax plan

[Draco-Onis]

Well said. I appreciate the well thought out post. Some good things to consider. Even tho Bill Clinton was a immoral scum to some Americans, the economy was good and the deficit as you said was reduced. Thus the reason he had a large approval rating when he left office. But I wonder if NAFTA bears any credit for that and it was only a temporary boost like some claim Reaganomics was?

Neither Reagan nor Clinton deserve credit for their boom, the devil is in the details Reagan benefited from several factors including increasing number of women entering the workforce and the fed taming inflation. Clinton also benefited from technology and manufacturing innovations boom at the time he was president, things like NAFTA take years to take effect. If you want to be frank Clinton takes a bulk of the blame for the 2008 financial crisis because he removed depression era regulations that would have prevented it and the housing bubble.

Unfortunately presidents get too much credit for things that sometimes just happen when they are in office.

[Kathandira]

President Trump has told the AP that he will be announcing his tax reform plan next week, my question is simple.

If you're a Trump supporter what do you expect his tax plan will be and who will benefit from his plan the most.

I don't expect him to show his plan at all. Why should he start giving us information about Taxes now, when he wouldn't when asked for it?

[Kujako]

So in week nine of Trump "releasing his tax plan next week", can we just give it a rest?

[Allybeboba]

Right? It's not like you can look at everything Trump has done and what republicans have tried to do for 30 years and guess where is going to happen.

Or Democrats for that matter. No telling what kind of backroom deals will be made just to get people agree.

[alexw]

Neither Reagan nor Clinton deserve credit for their boom, the devil is in the details Reagan benefited from several factors including increasing number of women entering the workforce and the fed taming inflation. Clinton also benefited from technology and manufacturing innovations boom at the time he was president, things like NAFTA take years to take effect. If you want to be frank Clinton takes a bulk of the blame for the 2008 financial crisis because he removed depression era regulations that would have prevented it and the housing bubble.

Unfortunately presidents get too much credit for things that sometimes just happen when they are in office.

The biggest thing Reagan benefited from was the end of the oil embargo and the flooding of oil markets with relatively cheap North Sea oil from Norway/UK. The price of oil dropped 80% over his two terms in office. Remember too that the oil intensity per unit of GDP has halved since then so in current terms it would be as if the current price of oil dropped to 1/10 of what it is. Reagan was just lucky enough to take power just as the price of oil topped out and its long fall began. The whole Reagan era myth and the republicans slavish devotion to him was/is based on the average person not understanding this one fact.

[dextersmith]

No taxes for the rich, everyone else to pick up the slack.

[Glorious Leader]

The biggest thing Reagan benefited from was the end of the oil embargo and the flooding of oil markets with relatively cheap North Sea oil from Norway/UK. The price of oil dropped 80% over his two terms in office. Remember too that the oil intensity per unit of GDP has halved since then so in current terms it would be as if the current price of oil dropped to 1/10 of what it is. Reagan was just lucky enough to take power just as the price of oil topped out and its long fall began. The whole Reagan era myth and the republicans slavish devotion to him was/is based on the average person not understanding this one fact.

Regan also RAN A DEFICIT. Clinton brought the government into surplus which was taking money from the private sector. Its retarded but apparently conservatives get MMT better than democrats. Cheney said regan proves deficits dont matter..m

[cubby]

His voters are getting fucked again, just wait and see.

But they won't know it because they continue to swallow the GOP lies. I'd be laughing if it wasn't so sad.

[Karfal]

Regan also RAN A DEFICIT. Clinton brought the government into surplus which was taking money from the private sector. Its retarded but apparently conservatives get MMT better than democrats. Cheney said regan proves deficits dont matter..m

Thank God for newt gringrich....and the Republican majority in the house.

[Draco-Onis]

No taxes for the rich, everyone else to pick up the slack.

That seems to be the plan lower the tax rate for the rich and corporations and put an border adjustment tax and other type of taxes on regular Americans to make up for the budget shortfall.

[Mgann-Morzz]

I really can't comprehend how after decades of increasing inequality, much of which have also had wage stagnation and just general harm for everyone NOT rich people STILL think Tickle Down can work somehow. It's been so insanely discredited and yet people still believe in it.

The only tax cuts that are effective at all are tax cuts on lower brackets... because since those people tend to live paycheck to paycheck they'll actually spend the spare money they got now on things they couldn't otherwise.

[Breccia]

So in week nine of Trump "releasing his tax plan next week", can we just give it a rest?

It's different this time. He has a 100 days coming up, and, well, his Contract with the American Voter is kind of looking like his Contract To Pay Dudes Who Do Work For Me. In other words, he's not meeting his obligations.

So he's either asking other people to slap shit together at the last minute, or, they've been working this entire time and been pretty tight-lipped about it -- which, based on what happened with TrumpCare, is not a good sign. TrumpCare was kept in a dark-ass basement because of what the voters would say when they saw it, and they did see it, and it fell apart. Fucking cowards wouldn't even vote on it.

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I really can't comprehend how after decades of increasing inequality, much of which have also had wage stagnation and just general harm for everyone NOT rich people STILL think Tickle Down can work somehow.

They don't think Trickle Down works. They just want more money.

Or, were you talking about the lower income GOP voters, continuing to vote against their own self-interest?

[ati87]

So in week nine of Trump "releasing his tax plan next week", can we just give it a rest?

The original source is the bloody AP, that's maybe the single worldwide news organization that every legitimate news organization will use to publish articles since they just report the facts on the ground without adding a spin to it.

So Trump ,or more likely, his team told the AP about how he is going to release his tax plan.

Example style : The US used a huge bomb in Afghanistan.
Other certain disgusting news agencies: ''look how beautiful these bombs are!!!!! They are such nice bombs to fire at ------------- I wonder if people on the ground appreciate the beauty of these bombs''

[Mgann-Morzz]

It's different this time. He has a 100 days coming up, and, well, his Contract with the American Voter is kind of looking like his Contract To Pay Dudes Who Do Work For Me. In other words, he's not meeting his obligations.

So he's either asking other people to slap shit together at the last minute, or, they've been working this entire time and been pretty tight-lipped about it -- which, based on what happened with TrumpCare, is not a good sign. TrumpCare was kept in a dark-ass basement because of what the voters would say when they saw it, and they did see it, and it fell apart. Fucking cowards wouldn't even vote on it.

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They don't think Trickle Down works. They just want more money.

Or, were you talking about the lower income GOP voters, continuing to vote against their own self-interest?

Im talking about yeah basically everyone from upper middle to lower class, it's a massive range from both fairly high earning professionals, high earning union blue collar workers, to low earners in general who really gain basically nothing from tax cuts to the ultra rich. really unless your in the ultra top of the top trickle down gets you nothing even if you ARE well off.

[ati87]

Im talking about yeah basically everyone from upper middle to lower class, it's a massive range from both fairly high earning professionals, high earning union blue collar workers, to low earners in general who really gain basically nothing from tax cuts to the ultra rich. really unless your in the ultra top of the top trickle down gets you nothing even if you ARE well off.

To me what worse of the whole idea of trickle down are the rich that are pushing for it.

Everybody wins if the consumers can spend more or the same without having any major burdun (debt), not a single respectable person on wallstreet will actually disagree with this statement long term.

But they do love those stupid tax cuts as well, it benefits them directly.

''Black Wallstreet'' was successful because people there (majority if not al black) because money was kept within that area while at the same time it ''moved'' between people.

When money moves from hand to hand you increase prosperity

[Mgann-Morzz]

To me what worse of the whole idea of trickle down are the rich that are pushing for it.

Everybody wins if the consumers can spend more or the same without having any major burdun (debt), not a single respectable person on wallstreet will actually disagree with this statement long term.

But they do love those stupid tax cuts as well, it benefits them directly.

''Black Wallstreet'' was successful because people there (majority if not al black) because money was kept within that area while at the same time it ''moved'' between people.

When money moves from hand to hand you increase prosperity

o their stupidly shortsighted and unable to think beyond the next quarter, in the long run a healthy economy where a large majority has lots of disposable income would beneift them too, but they can only think in terms of the next 4-6 months, partially out of their own personal selfishness and partially out of Investors shortsightedness and selfishness.

That's really the problem with a ton of issues, people don't think beyond the next year generally, and it's going to doom us economically, with climate change and maybe with some wars too.

[Kujako]

The original source is the bloody AP, that's maybe the single worldwide news organization that every legitimate news organization will use to publish articles since they just report the facts on the ground without adding a spin to it.

So Trump ,or more likely, his team told the AP about how he is going to release his tax plan.

Example style : The US used a huge bomb in Afghanistan.
Other certain disgusting news agencies: ''look how beautiful these bombs are!!!!! They are such nice bombs to fire at ------------- I wonder if people on the ground appreciate the beauty of these bombs''

No, the Original source is Trump, saying and tweeting that he would release his tax plan in the next week or two. That was almost two months ago.

[Breccia]

Im talking about yeah basically everyone from upper middle to lower class

In all fairness, based on the last visible incarnation of Trump's tax plan, the upper middle class will get some back. Unless they have three kids. Or are single parents. Or donate a lot to charity.

Anyone below that...good luck.

[Poopymonster]

This is the most ignorant thing I have ever seen you say.

So, two are guys sitting in a cave. One has furs, the other has meat. If they make a trade, this is economic activity. No government was required; no laws were required. Markets exist in all forms of government, but they exist even when there is no government.

There were no cavemen. God made people as we are today.

Well, if we're gonna believe in asinine GOP fantasies like trickle down economics, why not that one too?