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Democrats: "We will raise taxes if we take back congress in 2018!"

By Goran_K following x   2018 Mar 9, 4:25pm 5,592 views   61 comments   watch   sfw   quote     share    


You can't make this up. They literally want to halt the economy in its tracks.



https://www.forbes.com/sites/ryanellis/2018/03/09/democrats-release-tax-hike-plan/#1fa9e63e7b9e

Here are a few of the gems.


- Increase the top marginal income tax rate from 37 percent to 39.6 percent. This nearly 3 percentage point increase in the top personal rate is not only a hike in the top bracket levy, but it's also a direct tax increase on small and mid-sized businesses. The 30 million companies which are organized as sole proprietorships, partnerships, Subchapter-S corporations, and LLCs pay their business taxes on their owners' 1040 personal tax returns. Hiking the top tax rate is a small business tax increase.

- Increase the corporate income tax rate from 21 percent to 25 percent.

- Bring back the alternative minimum tax (AMT) for 4 million families.

- Cut the "death tax" standard deduction in half.


Basically if you're a small business owner, or a dual income family, FUCK YOU. - Insincerely, The Democrats.

« First    « Previous    Comments 22 - 61 of 61    Last »

22   mell   ignore (2)   2018 Mar 10, 11:03am   ↑ like (2)   ↓ dislike (1)   quote   flag        

FP says
mell says
5lbsbrowntrout says
DryMap says
Don't worry. By the end of Trump's first term, the economy will be in recession. Raising taxes in that environment will not be possible. We have seen how this goes. This train ain't stopping until it crashes.


2 dislikes, what, people can't handle the truth?

If the economy is at near full employment what is the sense in a tax cut?


To increase the net monies people have available and reduce govt waste. Makes perfect sense.


Makes perfect sense to those who don't know how the economy works. It leads to overinvestment and eventually recession, or possibly worse.

Tax cuts can be good for the economy, but the recent ones weren't in the mid to long term - neither for how...


Overinvestment? Lol no for most it's just having more cash for day to day activities and bills.
23   MrMagic   ignore (11)   2018 Mar 10, 11:07am   ↑ like (1)   ↓ dislike (0)   quote   flag        

DryMap says
Don't worry. By the end of Trump's first term, the economy will be in recession.


It should be, we're in year 8 of the business cycle, it's way overdue for a correction.
24   MrMagic   ignore (11)   2018 Mar 10, 11:08am   ↑ like (2)   ↓ dislike (0)   quote   flag        

anotheraccount says
Trump will probably


anotheraccount says
Which part of it is false again?


The "will probably" part.
25   missing   ignore (1)   2018 Mar 10, 11:56am   ↑ like (1)   ↓ dislike (1)   quote   flag        

mell says
Lol no for most it's just having more cash for day to day activities and bills.


Lol, I didn't know that the rich in the US couldn't pay their bills.
26   just_dregalicious   ignore (0)   2018 Mar 10, 12:04pm   ↑ like (1)   ↓ dislike (1)   quote   flag        

bob2356 says
Cult brainwashing truly works well for people who don't want to actually think.


What do you call a guy with no arms and no legs floating in the ocean?
27   bob2356   ignore (3)   2018 Mar 10, 12:07pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

mell says

Not true. People objected to the bailouts not tax cuts. Obummer bailed out the wealthy and then raised taxes on everybody.


Amazing. Brainwashing works. TARP was under bush. Reagan signed the largest tax increase in peace time. Facts suck.
28   bob2356   ignore (3)   2018 Mar 10, 12:10pm   ↑ like (2)   ↓ dislike (1)   quote   flag        

mell says


Overinvestment? Lol no for most it's just having more cash for day to day activities and bills


ROFLOL. How much of the tax cut is going to people to use for day to day actvities/bills and how much is for stock buybacks/dividends? Please let us have the numbers. The suspense is killing me.
29   bob2356   ignore (3)   2018 Mar 10, 1:06pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

just_passing_through says
bob2356 says
Cult brainwashing truly works well for people who don't want to actually think.


What do you call a guy with no arms and no legs floating in the ocean?


I rest my case.
30   anotheraccount   ignore (1)   2018 Mar 10, 1:11pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

bob2356 says
ROFLOL. How much of the tax cut is going to people to use for day to day actvities/bills and how much is for stock buybacks/dividends? Please let us have the numbers. The suspense is killing me.


Here is your answer: https://www.bloomberg.com/gadfly/articles/2018-03-05/five-charts-that-show-where-those-corporate-tax-savings-are-going

About 60 percent of the gains are going to shareholders, compared with 15 percent for employees.
31   bob2356   ignore (3)   2018 Mar 10, 1:57pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

anotheraccount says
About 60 percent of the gains are going to shareholders, compared with 15 percent for employees.


Note that there isn't a breakout of how much of the employees share is a 1 time bonus, that will very very likely to be conveniently paid going into the 2018 elections. That would of course be coincidence. What do you think the odds of an additional bonus from the tax savings happening the year after the election? Going to be real interesting to see the breakout then.

Shareholders include executives stock options. That would be the executives deciding on how the tax savings are spent. Do you suppose the top executives at apple and exxon are having trouble with day to day expenses and bills?
32   MrMagic   ignore (11)   2018 Mar 10, 2:16pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

bob2356 says
TARP was under bush. Reagan signed the largest tax increase in peace time.


What did Obama sign?

The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. 111–5), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.

The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019

https://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009

bob2356 says
Amazing. Brainwashing works.


Sure does.

bob2356 says
Facts suck.


They certainly do!!
33   MrMagic   ignore (11)   2018 Mar 10, 2:16pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

bob2356 says
How much of the tax cut is going to people to use for day to day actvities/bills


Just everyone who brings home a regular paycheck. It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.

Just "crumbs" as your hero, Nancy Pelosi would say.
34   MrMagic   ignore (11)   2018 Mar 10, 2:16pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

FP says
mell says
Lol no for most it's just having more cash for day to day activities and bills.


Lol, I didn't know that the rich in the US couldn't pay their bills.


So, 150 million workers who have seen an increase in their checks the past month are all considered "rich" now?
35   MrMagic   ignore (11)   2018 Mar 10, 2:16pm   ↑ like (4)   ↓ dislike (0)   quote   flag        

5lbsbrowntrout says
If the economy is at near full employment what is the sense in a tax cut?


Being at full employment and having extra cash to spend in the economy are two completely different animals. Just because people are working (many with two jobs) doesn't make a strong economy.

Economics 101.
36   anotheraccount   ignore (1)   2018 Mar 10, 2:25pm   ↑ like (0)   ↓ dislike (1)   quote   flag        

Sniper says
Just everyone who brings home a regular paycheck. It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.


Great, $30. That same person is going to be paying 1%+ more on his or her mortgage due the supply of treasuries coming because of the huge deficit. So on $400K mortgage that's extra $333 every month min.
37   Goran_K   ignore (1)   2018 Mar 10, 5:25pm   ↑ like (3)   ↓ dislike (2)   quote   flag        

anotheraccount says

Remember that Obama put on that debt during 8 years. Trump will probably put up the same amount in 5 years or sooner if we get a recession. Which part of it is false again? How did Bush prosperity work out for you? Lucky for you, Obama was scared shitless and bailed everyone out.


"will probably" doesn't indicate much to me.
38   Booger   ignore (1)   2018 Mar 10, 6:22pm   ↑ like (2)   ↓ dislike (1)   quote   flag        

bob2356 says
Spending and debt are going up, up, up and


Reduced welfare rolls and increases in tariffs will fix this
39   HeadSet   ignore (1)   2018 Mar 10, 6:44pm   ↑ like (1)   ↓ dislike (1)   quote   flag        

anotheraccount says
Sniper says
Just everyone who brings home a regular paycheck. It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.


Great, $30. That same person is going to be paying 1%+ more on his or her mortgage due the supply of treasuries coming because of the huge deficit. So on $400K mortgage that's extra $333 every month min.



Way to "number shop." Someone with a $500 weekly check will not have a $400k mortgage. Also, most mortgages are fixed rate and will not "go up 1% " because of "treasury supply" or any other reason.
40   CBOEtrader   ignore (2)   2018 Mar 10, 8:35pm   ↑ like (1)   ↓ dislike (1)   quote   flag        

Booger says
bob2356 says
Spending and debt are going up, up, up and


Reduced welfare rolls and increases in tariffs will fix this


To fix this Trump will have to reign in the MIC. End the frivolous wars that team Bush/Obama/Clinton got us into and our financial problems melt away.

Best president of my lifetime.
41   anotheraccount   ignore (1)   2018 Mar 10, 9:18pm   ↑ like (0)   ↓ dislike (1)   quote   flag        

Goran_K says
"will probably" doesn't indicate much to me.


With Goldman Sachs background that you have, I would think you could plug in some numbers into Excel and see that 5 years is a possibility to add 10T more on top of what Trump started with. So probably is probable.
42   anotheraccount   ignore (1)   2018 Mar 10, 9:19pm   ↑ like (0)   ↓ dislike (1)   quote   flag        

HeadSet says
Someone with a $500 weekly check will not have a $400k mortgage.


Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.
43   mell   ignore (2)   2018 Mar 11, 12:03am   ↑ like (1)   ↓ dislike (0)   quote   flag        

anotheraccount says
HeadSet says
Someone with a $500 weekly check will not have a $400k mortgage.


Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.


Don't buy an overpriced shack. Called price discovery.
44   HeadSet   ignore (1)   2018 Mar 11, 9:01am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.

If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall. The experience of the last 50 years shows that rates and prices tend to balance to keep the same monthly payment. So a person who is looking to buy after rates rise will see house prices come down. And as Patrick has pointed out, for the same monthly payment, it is best to have a low price and high interest that to have high price and low interest. This is especially true if one takes the prudent path of using extra cash to pay off the home, with idea of owning the home outright.
45   anotheraccount   ignore (1)   2018 Mar 11, 10:02am   ↑ like (0)   ↓ dislike (0)   quote   flag        

HeadSet says
If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall.


don't think so. The super rich who are getting most of the tax cut will use it to buy up those properties and rent them out to you at higher rent.
46   Strategist   ignore (3)   2018 Mar 11, 11:53am   ↑ like (0)   ↓ dislike (0)   quote   flag        

bob2356 says
ROFLOL. How much of the tax cut is going to people to use for day to day actvities/bills and how much is for stock buybacks/dividends? Please let us have the numbers. The suspense is killing me.

There is no tax break for stock buybacks, therefore none of it is going for stock buybacks.
Is there anything else I can help you with to ease any more suspense?
47   anotheraccount   ignore (1)   2018 Mar 11, 11:55am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Funny how this forum has changed. i am saying the same things that I said during Obama years. The difference now is that my posts are getting dislikes and then they used to get likes from the same characters.
48   Strategist   ignore (3)   2018 Mar 11, 11:56am   ↑ like (0)   ↓ dislike (0)   quote   flag        

5lbsbrowntrout says
If the economy is at near full employment what is the sense in a tax cut?


Could be the other way round. The anticipation of tax cuts was enough to cause an investment and hiring boom.
49   HeadSet   ignore (1)   2018 Mar 11, 1:21pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

anotheraccount says
HeadSet says
If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall.


don't think so. The super rich who are getting most of the tax cut will use it to buy up those properties and rent them out to you at higher rent.


Your last statement has got to sound hollow and "grabbing at straws" even to you.
50   mell   ignore (2)   2018 Mar 11, 1:21pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

HeadSet says
anotheraccount says
HeadSet says
If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall.


don't think so. The super rich who are getting most of the tax cut will use it to buy up those properties and rent them out to you at higher rent.


That last statement has got to sound hollow and "grabbing at straws" even to you.
Agreed. Does not compute.
51   bob2356   ignore (3)   2018 Mar 11, 4:06pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Strategist says
There is no tax break for stock buybacks, therefore none of it is going for stock buybacks.
Is there anything else I can help you with to ease any more suspense?


You somehow haven't seen any news since the tax cut? The number is at 200 billion in 2 months and growing rapidly.
52   bob2356   ignore (3)   2018 Mar 11, 4:09pm   ↑ like (0)   ↓ dislike (1)   quote   flag        

Booger says
bob2356 says
Spending and debt are going up, up, up and


Reduced welfare rolls and increases in tariffs will fix this


I'm hoping this is a joke. No one could be that clueless about federal spending. At least I don't think it's possible.
53   bob2356   ignore (3)   2018 Mar 11, 4:11pm   ↑ like (0)   ↓ dislike (1)   quote   flag        

Sniper says
bob2356 says
How much of the tax cut is going to people to use for day to day actvities/bills


Just everyone who brings home a regular paycheck.


Good tap dance . The question was how much of the tax cut is going to people to use for da to da activities/bills.
54   bob2356   ignore (3)   2018 Mar 11, 4:15pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Sniper says
bob2356 says
TARP was under bush. Reagan signed the largest tax increase in peace time.


What did Obama sign?

The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. 111–5), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.


You said obama bailouts. This isn't a bailout Sorry epic fail,
55   TwoScoopsOfSpaceForce   ignore (4)   2018 Mar 11, 5:39pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.
56   CBOEtrader   ignore (2)   2018 Mar 11, 6:03pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

TwoScoopsPlissken says
The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.


It's the audacity of hope, you nazi.
57   mell   ignore (2)   2018 Mar 11, 6:32pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

TwoScoopsPlissken says
The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.


Great post. Will reuse.
58   MrMagic   ignore (11)   2018 Mar 11, 9:21pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

bob2356 says
Just everyone who brings home a regular paycheck.


Good tap dance . The question was how much of the tax cut is going to people to use for da to da activities/bills.


I'll repeat it again, since you seemed to miss it the FIRST time.

Sniper says
It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.


Shall I help with what percentage of their check that is?
59   Goran_K   ignore (1)   2018 Mar 12, 2:48pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

TwoScoopsPlissken says
The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.


Excellent!
60   MisterLefty   ignore (0)   2018 Mar 12, 3:47pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

anotheraccount says
Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.
Why do you hate renters?
61   bob2356   ignore (3)   2018 Mar 12, 4:52pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Sniper says
bob2356 says
Just everyone who brings home a regular paycheck.


Good tap dance . The question was how much of the tax cut is going to people to use for da to da activities/bills.


I'll repeat it again, since you seemed to miss it the FIRST time.


You never answered any time. Repeating a non answer doesn't make it any more of an answer. Would you like me to repeat the question typing slower and using smaller words?

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