This Tax Bill Is a Trillion-Dollar Blunder

[Crepitus]

This Tax Bill Is a Trillion-Dollar Blunder (https://www.bloomberg.com/view/articles/2017-12-15/this-tax-bill-is-a-trillion-dollar-blunder)


Congress and President Trump put politics ahead of smart reform.

Last month a Wall Street Journal editor asked a room full of CEOs to raise their hands if the corporate tax cut being considered in Congress would lead them to invest more. Very few hands went up. Attending was Gary Cohn, President Donald Trump's economic adviser and a friend of mine. He asked: "Why aren't the other hands up?"Allow me to answer that: We don't need the money.Corporations are sitting on a record amount of cash reserves: nearly $2.3 trillion. That figure has been climbing steadily since the recession ended in 2009, and it's now double what it was in 2001. The reason CEOs aren't investing more of their liquid assets has little to do with the tax rate.CEOs aren't waiting on a tax cut to "jump-start the economy" -- a favorite phrase of politicians who have never run a company -- or to hand out raises. It's pure fantasy to think that the tax bill will lead to significantly higher wages and growth, as Republicans have promised. Had Congress actually listened to executives, or economists who study these issues carefully, it might have realized that.

Read the rest at the link.

Yes it's an OpEd but it lays things out pretty clearly.

[nathanbforrest45]

merry christmas

[Kalkin]

Whatever the cost, eliminating the individual mandate was worth it.

[Chris]

This Tax Bill Is a Trillion-Dollar Blunder (https://www.bloomberg.com/view/articles/2017-12-15/this-tax-bill-is-a-trillion-dollar-blunder)



Read the rest at the link.

Yes it's an OpEd but it lays things out pretty clearly.

That argument has been posted at least once. Whackamole.

What do you think it says, sans political proganda?


The reason CEOs aren't investing more of their liquid assets has little to do with the tax rate.

I worked for a company that spent its cash researve and went broke and bankrupt. You can't just spend--unless you're the government.


CEOs aren't waiting on a tax cut to "jump-start the economy" -- a favorite phrase of politicians who have never run a company -- or to hand out raises.

I've reported several companies now handing out bonuses and raises.


The flimsy one-page analysis Treasury released -- which accepts the White House's reality-defying economic projections in order to claim that the tax cuts will pay for themselves and then some -- is a politically driven document that amounts to economic malpractice.

The Treasury analysis accepted the economics of the tax cut.


The largest economic challenges we face include a skills crisis that our public schools are not addressing, crumbling infrastructure that imperils our global competitiveness, wage stagnation coupled with growing wealth inequality, and rising deficits that will worsen as more baby boomers retire.

Tax cuts don't address these POLITICAL issies.

[Common]

Not to start an argument, but Michael Bloomberg and Trump have hated each other long before trump was Potus, Bloomberg has never had a good thing to say about trump and vice versa.

Bloomberg was a democrat, turned republican, turned democrat, turned republican a second time to run for Mayor then turned independent. Hes full of shit, is he wrong about this I dont know but Ive read alot of other things and I admit I still dont know whats in it. Ill let you know in march how it affects me

[Green Arrow]

Whatever the cost, eliminating the individual mandate was worth it.

Would a bill that literally ordered the bombing of half the US but also repealed the individual mandate be worth it?

[Crepitus]

merry christmas

Feliz Navidad

[Peter1469]

Does Bloomberg have the credentials to say what smart tax reform is or isn't?

[Chris]

Crepitus, your man, Bernie Sanders, disagrees with you and wants more.

Sanders: Yes, It’s A Good Thing Americans Are Getting A Tax Cut, But The GOP Bill Didn’t Go Far Enough (https://townhall.com/tipsheet/mattvespa/2017/12/24/sanders-yes-its-a-good-thing-americans-are-getting-a-tax-cut-but-the-gop-bill-n2426770)


Well, the tax bill has been signed. It's middle class relief. That's a fact. Around 91 percent of middle class income Americans will be seeing savings in their next bill to the government, something that CNN’s Jake Tapper brought up with Sen. Bernie Sanders (I-VT) this morning.

“Yeah, it is a very good thing,” Sanders said of the tax cut. “And that’s why we should’ve made the tax cuts for the middle class permanent.” Sanders went onto to say that after ten years, the middle class tax cuts would expire and the vast majority of the benefits will go to the wealthy and corporate interests. Some on social media, like AG Conservative and Stephen Miller, have noted the moving of the goal posts here. Sen. Sanders, the self-described democratic socialist, now thinks that the bill wasn't good enough. Didn't he and the rest of the left preach the apocalypse about this tax reform package? That’s rich.

...

Not just a week or so ago Sanders was talking about tax cuts as theft.

[Crepitus]

That argument has been posted at least once. Whackamole.

What do you think it says, sans political proganda?



I worked for a company that spent its cash researve and went broke and bankrupt. You can't just spend--unless you're the government.



I've reported several companies now handing out bonuses and raises.



The Treasury analysis accepted the economics of the tax cut.



Tax cuts don't address these POLITICAL issies.

1st point is a strawman. Nobody is suggesting companies should spend all their available cash.

2nd point is another. We know their analysis accepted the author's justifications. It's just that they are the only ones and their single page double spaced release doesn't exactly argue for in depth analysis.

Your only actual point. You are correct, it doesn't.

[Kalkin]

Would a bill that literally ordered the bombing of half the US but also repealed the individual mandate be worth it?

As long as it wasn't my half, sure.



Silly question begets silly response.

[Green Arrow]

As long as it wasn't my half, sure.



Silly question begets silly response.

You said “any cost,” why is it silly?

[Crepitus]

Crepitus, your man, Bernie Sanders, disagrees with you and wants more.

Sanders: Yes, It’s A Good Thing Americans Are Getting A Tax Cut, But The GOP Bill Didn’t Go Far Enough (https://townhall.com/tipsheet/mattvespa/2017/12/24/sanders-yes-its-a-good-thing-americans-are-getting-a-tax-cut-but-the-gop-bill-n2426770)



Not just a week or so ago Sanders was talking about tax cuts as theft.

Thats fine, just because I endorsed him for president doesn't mean I have to agree with every single thing he says. What do you think I am, a republican?

[Kalkin]

You said “any cost,” why is it silly?

I would destroy the entire universe to be rid of the individual mandate.

[Chris]

Whatever the cost, eliminating the individual mandate was worth it.

"it" refers to the tax bill not bombing half the US.

Possibly even going so far as to say if the tax bill was a blunder, it was still worth it eliminating the individual manadate.

[Captdon]

You said “any cost,” why is it silly?

Because you're supposed to be smarter than that.

[nathanbforrest45]

Feliz Navidad





どうもありがとうございました

[Dōmo arigatōgozaimashita

[Crepitus]

どうもありがとうございました

[Dōmo arigatōgozaimashita





I will assume those say "merry Christmas" as well.

[Chris]

I will assume those say "merry Christmas" as well.

It says thank you very much in Japanese.

[Mister D]

It's amazing how much trust your average person puts into op eds.

[Chris]

It's amazing how much trust your average person puts into op eds.

I can remember back to a time when the news would go to op-eds and announce it very clearly to distinguish opinion from what was otherwise factual reporting. Now the two are indistinguishable.

[Tahuyaman]

Liberals whether they are Republicans, Democrats or independents can not tolerate cuts in tax rates. They seem to have an allergy to allowing people to keep more of their earnings.

[Kalkin]

Liberals whether they are Republicans, Democrats or independents can not tolerate cuts in tax rates. They seem to have an allergy to allowing people to keep more of their earnings.
It all comes down to marxist wealth redistribution. They believe those in need have a right to the assets of those with means. Without taxation, they'd have to confiscate wealth by themselves, which could prove quite dangerous, or even fatal. Much easier to use the government to do your dirty work.

[donttread]

This Tax Bill Is a Trillion-Dollar Blunder (https://www.bloomberg.com/view/articles/2017-12-15/this-tax-bill-is-a-trillion-dollar-blunder)



Read the rest at the link.

Yes it's an OpEd but it lays things out pretty clearly.


Remember it's not about processing revenue, a 6th grade class could come up with easier, less expensive, fairer ways to do that. It's about control, page after page of control, like the tax code has been for a very long time.

[DGUtley]

How much is enough? How much should the government take? What is the maximum percentage you let us keep before you call us baby killers?

[Tahuyaman]

How much is enough? How much should the government take? What is the maximum percentage you let us keep before you call us baby killers?
Liberals believe that government has the right to take whatever they want. If you object, you are a greedy and heartless bigot.


There is no limit.

[nathanbforrest45]

I will assume those say "merry Christmas" as well.



koj yuav xav tias tsis yog. Nws hais tias Ua tsaug ntau ntau rau lus Nyijpooj

[Crepitus]

koj yuav xav tias tsis yog. Nws hais tias Ua tsaug ntau ntau rau lus Nyijpooj

Yea, not getting that one either. What language is that?

[Safety]

Yea, not getting that one either. What language is that?

It's a new one called off-topic.

[Green Arrow]

Yea, not getting that one either. What language is that?

Hmong

[Crepitus]

Hmong

Ok.



What is "hmong" when it's at home? Lol.

[Crepitus]

It's a new one called off-topic.

I've reached the point of not caring/worrying about it anymore.

[nathanbforrest45]

Actually it's designed to show what most of us think of your opinions and pronouncements. Entirely illegible gobblygook to the average mind.

[Crepitus]

Actually it's designed to show what most of us think of your opinions and pronouncements. Entirely illegible gobblygook to the average mind.

Not my fault you guys find rational thought difficult.

[Kalkin]

Not my fault you guys find rational thought difficult.

Nor is it our fault that you find it impossible.

[Tahuyaman]

Well, the new tax reductions isn’t a trillion dollar blunder, but the left wing Loons would rather spin away into some off topic rants.

[Hal Jordan]

Actually it's designed to show what most of us think of your opinions and pronouncements. Entirely illegible gobblygook to the average mind.
Threadbanned for pattern of bad faith posting

[donttread]

This Tax Bill Is a Trillion-Dollar Blunder (https://www.bloomberg.com/view/articles/2017-12-15/this-tax-bill-is-a-trillion-dollar-blunder)



Read the rest at the link.

Yes it's an OpEd but it lays things out pretty clearly.

Corporate taxes are mental masturbation, butthen again so is the limitless Capital Gains tax rate their investors get.

[Peter1469]

Corporate taxes are mental masturbation, butthen again so is the limitless Capital Gains tax rate their investors get.

You don't understand the risks involved with investing in capital.

You are correct that corporate taxes are bad.

[ripmeister]

Whatever the cost, eliminating the individual mandate was worth it.
You're opposed to the mandate? :wink:

[Crepitus]

You're opposed to the mandate? :wink:

Naw, I don't get that impression at all. What makes you think so?

[Kalkin]

You're opposed to the mandate? :wink:
Isn't everyone?