"THE REPUBLICAN TAX BILL IS A FRAUD!!!" Bernie Sanders On Trump's Tax Lies
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1   Tenpoundbass   ignore (6)   2017 Dec 5, 4:55am   ↑ like (0)   ↓ dislike (1)     quote      

Bernie let Hillary muscle him out of the race for a super car and a Mansion.
2   BayAreaObserver   ignore (1)   2017 Dec 5, 5:45am   ↑ like (3)   ↓ dislike (3)     quote      

Tax Cuts, Wages and Salaries: Will Lower Taxes and Profit Repatriation Help Workers?

Corporate profits & compensation

But beware: the legacy of past borrowing to invest in past economic growth remains in the form of existing debt. Existing corporate and government debt – consisting mostly of long-term bonds — is being paid off constantly at rates of interest set when the bond was sold. Consumer debt, on the other hand, consists mostly (70%) of home mortgages, plus some education debt and short-term credit-card debt. Some past US government borrowing was used to finance Federal, State and municipal budget deficits. Investment in new productive capacity (“bricks and mortar”) is financed by corporate profits or borrowing (selling bonds). Finally, there is financial debt, mostly by banks, hedge funds and rivate equity groups, enabling companies to buy other companies.

So, existing debt is what financed past wars, past budget or trade deficits and past investments in economic growth. Existing debt is being paid off, year by year, just as mortgage debt is paid off over time, by corporate , municipal or private borrowers. But the cost of debt service comes out of current income. A debtor may decide to accelerate her payments, so as to reduce the current debt service load. But debt repayment in the absence of increased income, means there will be less money available for new investment. This truism applies at all levels. If we (as a nation) decide to pay off the existing national debt faster there will be less money for other government services, including new capital investment, such as infra-structure repairs and upgrades. That means slower growth.

The essential point is that faster economic growth requires more investment. That, in turn, necessarily implies more – not less – borrowing. Corporate leaders who want to pay less in taxes, are proposing to cut government revenues, resulting in austerity: reduced services or more borrowing to fill the budget gap, or both. Can the gap be filled by spending cuts? If the spending cuts come out of social services, such as health care and pensions – which is what most Republicans advocate – it means that people now depending on those services will have less income, even if they also pay a little less in income taxes.

To complicate the situation further, the Federal Reserve Bank (FRB) is now (2017) starting to sell back into the bond-market the several trilliond dollars of securities (government and corporate bonds) that it bought during the three periods of “quantitative easing” (QE). When that QE policy was in effect, the FRB was effectively under-writing the commercial banks capital reserves (by giving them cash to buy other securities to maintain their reserves) and, thus enable them to make more loans to businesses. But now that US unemployment is close to 4% p.a. the FRB has started to reverse this “easing” policy i.e. to resell the bonds it bought a few years ago. To buy them back, the banks will have less money available to lend to small businesses. What was a “tailwind” a few years ago is now a “headwind”.

In summary, there is no evidence that cutting corporate taxes will result in increased investment in “bricks and mortar” projects, to make useful products, or in R&D. That did not happen after the 2005 tax holiday, and the financial incentives that operated then are still in place. The money brought back from overseas in 2018 or 2019 will mostly be spent on share buybacks, executive compensation and dividends to shareholders. The buybacks will drive up share prices further and accelerate the current “bull market” in corporate equities. The end result will be another euphoric “bubble”, comparable to the ones in 1929 and 1999. When retail investors borrow money to buy stocks, on margin, the end is near. After such a bubble comes the inevitable crash, when the small “mom and pop” investors get hurt the most. And the next crash will be very painful. One can only hope that it will be painful enough to encourage and allow some fundamental changes in the current forms and structures of capitalism, starting with election reform.

https://www.nakedcapitalism.com/2017/12/123318.html#comments
3   KimJongUn   ignore (0)   2017 Dec 5, 11:05am   ↑ like (3)   ↓ dislike (4)     quote      

Bernie is a commie fraud himself. His whole gig is based on promising unlimited free shit to the feeble-minded.
4   HEYYOU   ignore (4)   2017 Dec 5, 12:37pm   ↑ like (1)   ↓ dislike (1)     quote      

Bernie get your shit together!
It's The Republican Tax Increase Bill.
5   Nobody   ignore (0)   2017 Dec 5, 2:19pm   ↑ like (0)   ↓ dislike (0)     quote      

What do you mean fraud? The fraud portion has been taken out of robbery.
6   Strategist   ignore (0)   2017 Dec 5, 6:07pm   ↑ like (2)   ↓ dislike (1)     quote      

KimJongUn says
Bernie is a commie fraud himself. His whole gig is based on promising unlimited free shit to the feeble-minded.


Money grows on trees. Every Commie knows that.
7   Rew   ignore (0)   2017 Dec 5, 6:09pm   ↑ like (1)   ↓ dislike (4)     quote      

Anyone catch what Collins got for her yes vote? :)
8   anon_4460e   ignore (0)   2017 Dec 5, 7:23pm   ↑ like (1)   ↓ dislike (1)     quote      

KimJongUn says
His whole gig is based on

STRENGTHENING AMERICA instead of oligarchs, armies and police.
9   KimJongUn   ignore (0)   2017 Dec 5, 7:40pm   ↑ like (1)   ↓ dislike (0)     quote      

anon_4460e says
KimJongUn says
His whole gig is based on

STRENGTHENING AMERICA instead of oligarchs, armies and police.


ROTFLMAO.
10   HEYYOU   ignore (4)   2017 Dec 6, 10:05am   ↑ like (1)   ↓ dislike (1)     quote      

Republican voters are such suckers.
Lose your jobs,redneck white trash black lung Republicans.

http://addictinginfo.com/2017/12/06/watch-trump-supporting-coal-ceo-upset-trump-is-wiping-out-thousands-of-coal-mining-jobs/
11   Entitlemented   ignore (0)   2017 Dec 6, 10:24am   ↑ like (1)   ↓ dislike (0)     quote      

Bernie knows that the government would be a better steward of yours and my money.

And thats a fact!
12   Strategist   ignore (0)   2017 Dec 6, 3:21pm   ↑ like (0)   ↓ dislike (0)     quote      

HEYYOU says
http://addictinginfo.com/2017/12/06/watch-trump-supporting-coal-ceo-upset-trump-is-wiping-out-thousands-of-coal-mining-jobs/


"“We won’t have enough cash flow to exist. It wipes us out,” Murray told CNNMoney in an interview on Tuesday."

Good, we don't want pollution. Coal will be the first fossil fuel to get replaced by clean energy. It's a question of economics. No-one in their right minds will build a coal fired plant to generate electricity, when a wind or solar farm is much cheaper. The cost of renewables is falling so rapidly, it will soon be more cost effective to dismantle coal plants well before their time.

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