patrick.net

bob2356 says

extra $22 per week in their paycheck on average from the tax cut. Wow a night out at mcdonalds for a family of 4.

Winning!

bob2356 says

You really should read articles before you comment on them.

Interesting, how a poster want to lecture another poster about financial matters after a post like this:

bob2356 says

I'm missing something here. 40 (24+7+9) identify as dem, 46 (11+6+19) idenify as rep and you say the poll is padded with dems. How does that work exaclty?

The way I learned math is that (11+6+19) = 36, but this is how math is taught in my state. Apparently it's taught differently in others....

MrMagic says

bob2356 says

I'm missing something here. 40 (24+7+9) identify as dem, 46 (11+6+19) idenify as rep and you say the poll is padded with dems. How does that work exaclty?

The way I learned math is that (11+6+19) = 36, but this is how math is taught in my state. Apparently it's taught differently in others....

Wow sniper/cic/ovacation/mrmagic/godonlyknowshowmanyalts you caught my math mistake. Serves me right for posting while doing other things. Unlike some posters I'm not going to change my name or quickly delete or edit the post/thread if I make a mistake or find I am wrong. . At least I understand the math, even if I made a quick number transposition. Want to go back to discussions on rates of change or even more fun changes in the rates of change again?

Maybe people might want to address the actual issue at hand or show how I am wrong on THIS subject. What a thought.

bob2356 says

So riddle me this. If hourly wages are down, then where is the increase in tax revenue coming from? Did salaries jump suddenly and abruptly on a wide scale? Hmmm. I wonder why the stock market is barely staying even with huge buybacks? Anyone out there cashing out their stocks and taking profits? Hmm. Dividends up 15% to record high. First q 109 billion in dividends. Taxable dividends.

Crickets chirping.

Hourly wages down, salaries really didn't change, unemployment rate hanging right at 4% all year. workforce participation didn't change, new tax tables collect LESS taxes. So what income increases are driving the increase in individual collections? Remind me again how much the tax cut is helping the 99%.

What about the deficit being up 23% YTD. When will the tax cut be wiping out the deficit? In another year there will be a trillion dollar deficit in a booming economy. A record that no one has ever achieved before or even gotten close to. What happened to the evils of deficits from the party of fiscal responsibility?

“The issue is the debt. People aren’t clamoring to invest in Greece today, If we don’t begin to deal with our debt and deficit in a serious way, we’re not going to have many options." Boehner 2012.

“The Speaker and I have been the adults in the room, arguing that we ought to do something about the nation’s most serious long-term problem of debt and deficit” Mcconnal 2012

I guess it's not a serious problem any more. MAGA.

bob2356 says

Hourly wages down, salaries really didn't change,

Look who's back to show us more awesome math skills, and wrong assumptions.

You should really read the WHOLE thread before posting additional nonsense.

MrMagic says

From the bea tables:

MrMagic says

bob2356 says

Hourly wages down, salaries really didn't change,

Look who's back to show us more awesome math skills, and wrong assumptions.

You should really read the WHOLE thread before posting additional nonsense.

Personal income up 2% fiscal year 2018 up less than 1% since the tax cut as per the BEA table Like I said really didn't change. Average payroll tax collection decrease under the new law 2%. Ok where is the 9% growth in individual income tax collections coming from? Feel free to provide the CORRECT assumptions. Not that it will ever happen.

Let me give you some hints. Before every tax cut there is a drop in revenues and a spike in revenues afterwards that lasts a short time, almost always less than a year. Tax cuts tale a long time to pass and people have plenty of time to plan. Look up the words deferred income and accelerated deductions. Duh Yuh think? Add in big dividends and taking profits on stocks from the spike in corporate profits. Oh wait. those things aren't on the income chart. Here is a neat statistical trick dearly beloved by the laffler fanatics. Only look at the year before a tax cut and the year after. Voila, magic. Tax cuts raise revenue. Nothing to do with people gaming the tax cut to pay the least taxes at all. Not even a tiny bit. The problem is that the magic disappears after the magic period ends.
www.youtube.com/embed/YWyCCJ6B2WE

bob2356 says

Ok where is the 9% growth in individual income tax collections coming from? Feel free to provide the CORRECT assumptions. Not that it will ever happen.

MrMagic says

OK, how's this?



https://www.cbo.gov/system/files?file=2018-07/54126-MBR.pdf

MrMagic says

You should really read the WHOLE thread before posting additional nonsense.

MrMagic says

MrMagic says

OK, how's this?

Trolling, trolling.

We established individual income taxes at least 20 posts ago. You didn't catch that some how? Maybe you should read the WHOLE thread before posting additional nonsense. The question is what part of individual income taxes is driving the 9% increase if wages are only slightly up, unemployment didn't go down, and wage tax collections are lower. But you knew that when you posted additional nonsense. More trolling to come Watch this space.

bob2356 says

The question is what part of individual income taxes is driving the 9% increase if wages are only slightly up,

MrMagic says

https://www.cbo.gov/system/files?file=2018-07/54126-MBR.pdf

Need help reading?

Pulling levers and pushing buttons and shoveling coal into a furnace aren't that skilled, but factory workers used to make enough to have a modest home, two cars, mom at home, TV, Junior's sports equipment and Marianne's Piano Lessons with a two week vacay at the Gulf/Lake.

What happened is that a return to mass immigration and lack of immigration enforcement flooded the labor pool.

Also consider the entry of women en mass into the labor force. The economy adjusted somewhat to a two-income household.

MrMagic says

Need help reading?

Need help understanding the question? Apparently so. I used small words and typed very slowly so I don't know where to go from here to make it more comprehensible. .