Under the current Tax plan

[sammyk]

I will have about an extra $121 a month. It's Christmas We are going to Applebees. Well at least I can buy some more schools supplies for my students. I should have said under the Republican Tax plan

 

[2ndguess]

I will have about an extra $121 a month. It's Christmas We are going to Applebees. Well at least I can buy some more schools supplies for my students. I should have said under the Republican Tax plan

So you don't like an extra ~$1500 a year?

 

[sammyk]

Sure but how are we paying for the tax cut????? And who is 2nd Guess???? 11 messages since 2006 hmmmm I am a little suspicious

 

[2ndguess]

Sure but how are we paying for the tax cut????? And who is 2nd Guess???? 11 messages since 2006 hmmmm I am a little suspicious

Suspicious of what? That I choose not to post a lot?

You don't look at the tax cut as being able to keep more of the money that you earned?
When a new program is created by the government, that is when you should ask "how is it going to be funded?".

Let me see, I am not an expert in economics, but I tend to be logical.
If the government lowers taxes, then the initial thought is that they will have less to spend.
How much less? That is the question.
If public spending increases (like you going to Applebees), then that could cause job creation.
I know. Now you will say wow a minimum wage job.......but you don't think about what else occurs.
Applebees will need more supplies. Now follow that down the line...Workers to process, truck drivers to haul and so on and so forth...
Looks like a ripple in a pond. More Money in people's pocket = New spending = New Jobs = More Taxes being paid (but won't make up for the revenue lost from the tax break).
Now that thinking can get all F'd if you decide to save that money instead of going to Applebees.

The second part has to be......Less government and government programs. Spending money sensibly....

The third part, which no one should like, is increased debt. This may or may not happen.
It depends on spending not being curtailed.

I am all for a mandate that requires all levels of government to have a balanced budget.

 

[sammyk]

Hmm very suspicious. I think that the money will go back into stock and shareholders and will raise our National Debt.

 

[2ndguess]

Hmm very suspicious. I think that the money will go back into stock and shareholders and will raise our National Debt.

Suspicious? Care to explain what you are thinking?

 

[sammyk]

I do not trust 3 types of people

1. People who don't drink
2. People who have been caught in a lie
3. People who average less than 4 posts a year

I am thinking alter ego of someone else but anyway have a merry Christmas

 

[paul from philly]

Suspicious of what? That I choose not to post a lot?

You don't look at the tax cut as being able to keep more of the money that you earned?
When a new program is created by the government, that is when you should ask "how is it going to be funded?".

Let me see, I am not an expert in economics, but I tend to be logical.
If the government lowers taxes, then the initial thought is that they will have less to spend.
How much less? That is the question.
If public spending increases (like you going to Applebees), then that could cause job creation.
I know. Now you will say wow a minimum wage job.......but you don't think about what else occurs.
Applebees will need more supplies. Now follow that down the line...Workers to process, truck drivers to haul and so on and so forth...
Looks like a ripple in a pond. More Money in people's pocket = New spending = New Jobs = More Taxes being paid (but won't make up for the revenue lost from the tax break).
Now that thinking can get all F'd if you decide to save that money instead of going to Applebees.

The second part has to be......Less government and government programs. Spending money sensibly....

The third part, which no one should like, is increased debt. This may or may not happen.
It depends on spending not being curtailed.

I am all for a mandate that requires all levels of government to have a balanced budget.

You are going on the assumption that Corps will do the right thing with the tax cuts they will get. Working for a Venture Capitol company, I'll believe it when I see it. The ideal behind the tax cut is very good and makes sense. But I am not an idealist . I am a realist and to me, it's just a license to steal for the Corps.

I don't understand what is wrong with a flat national sales tax for personal and corporate. You pick the number. 15%/ 20%? It doesn't matter because with no loopholes that would be plenty of money for the gov't and their programs. From a stick of gum to a yacht. And you would be getting the "illegals" monies too. No tax on food and clothing. All you would have is a lot of unemployed IRS workers and so what to that!!

LIBERTARIAN 2018!!!

 

[sammyk]

Plus the last time Trickle down economics was in place it tripled the National Debt. There is no way that this bill has 1.5 trillion in growth, not going to happen. Right now the economy is good (has been for about 4 years). Interest rates are low, unemployment is down(has been). Stock Market is up Businesses are making money hand over fist. So why do they need more money to invest in America when they are making record profits? And I am sorry the wealthy are getting the best part of this deal not the middle class. $100 a month does little for me and will not make me spend more. This is not 1982 guys

 

[2ndguess]

I do not trust 3 types of people

1. People who don't drink
2. People who have been caught in a lie
3. People who average less than 4 posts a year

I am thinking alter ego of someone else but anyway have a merry Christmas

Damn dude...two out of three....(1,3)

I generally don't have time to post.
Thought I would give it a go.

Merry Christmas!

 

[2ndguess]

You are going on the assumption that Corps will do the right thing with the tax cuts they will get. Working for a Venture Capitol company, I'll believe it when I see it. The ideal behind the tax cut is very good and makes sense. But I am not an idealist . I am a realist and to me, it's just a license to steal for the Corps.

I don't understand what is wrong with a flat national sales tax for personal and corporate. You pick the number. 15%/ 20%? It doesn't matter because with no loopholes that would be plenty of money for the gov't and their programs. From a stick of gum to a yacht. And you would be getting the "illegals" monies too. No tax on food and clothing. All you would have is a lot of unemployed IRS workers and so what to that!!

LIBERTARIAN 2018!!!

I was thinking more about people.
I figured the Corps only had a couple of options. Probably too simplistic....
1) Re-invest (improvements/expansion)
2) Give raises (More disposable income in the pocket of the people)
3) pay share holders (More disposable income in the pocket of the people)
4) Payoff debt

Paul, with the sales tax idea, would you expect prices on goods to decrease?

 

[2ndguess]

Plus the last time Trickle down economics was in place it tripled the National Debt. There is no way that this bill has 1.5 trillion in growth, not going to happen. Right now the economy is good (has been for about 4 years). Interest rates are low, unemployment is down(has been). Stock Market is up Businesses are making money hand over fist. So why do they need more money to invest in America when they are making record profits? And I am sorry the wealthy are getting the best part of this deal not the middle class. $100 a month does little for me and will not make me spend more. This is not 1982 guys

Is that 1.5 trillion number over 10 years? Again it also depends on gov't spending.

I'd rather have businesses make money hand over fist, as you put it, than to lose money (layoffs).

Can you define wealthy for me and please use dollar ranges? The whole % thing I feel is misleading.

I'm willing to bet that you would spend more, because you're a good guy.
"Well at least I can buy some more schools supplies for my students."

 

[paul from philly]

I was thinking more about people.
I figured the Corps only had a couple of options. Probably too simplistic....
1) Re-invest (improvements/expansion)
2) Give raises (More disposable income in the pocket of the people)
3) pay share holders (More disposable income in the pocket of the people)
4) Payoff debt

Paul, with the sales tax idea, would you expect prices on goods to decrease?

I wouldn't think so. Why would they? The only addition would be the tax but then you wouldn't have the tax problem at the end of the year. So with that in mind, I don't think the public would really care.

 

[sammyk]

Check that looks like I will save $900 a year what is that around 75-80 bucks a month

 

[reluctant_to_comment]

You are going on the assumption that Corps will do the right thing with the tax cuts they will get. Working for a Venture Capitol company, I'll believe it when I see it. The ideal behind the tax cut is very good and makes sense. But I am not an idealist . I am a realist and to me, it's just a license to steal for the Corps.

I don't understand what is wrong with a flat national sales tax for personal and corporate. You pick the number. 15%/ 20%? It doesn't matter because with no loopholes that would be plenty of money for the gov't and their programs. From a stick of gum to a yacht. And you would be getting the "illegals" monies too. No tax on food and clothing. All you would have is a lot of unemployed IRS workers and so what to that!!

LIBERTARIAN 2018!!!

When have Corps trickle down to the average worker or created jobs?

I can agree with your flat tax. I don't understand why Corp taxes were cut in half while individuals went down 1% AND individuals expire.

To address NJFan, I mean 2ndGuess, we may see more in our paycheck, but they are washed out by less deductions and higher insurance premiums.

 

[reluctant_to_comment]

Is that 1.5 trillion number over 10 years? Again it also depends on gov't spending.

I'd rather have businesses make money hand over fist, as you put it, than to lose money (layoffs).

Can you define wealthy for me and please use dollar ranges? The whole % thing I feel is misleading.

I'm willing to bet that you would spend more, because you're a good guy.
"Well at least I can buy some more schools supplies for my students."

Unemployment is on the rise in Wisconsin, Indiana and Michigan. Just sayin'.

 

[sammyk]

Yea those two are the same guy and only 16% of the new tax plan goes toward the middle class

 

[2ndguess]

Yea those two are the same guy and only 16% of the new tax plan goes toward the middle class

Not the same guy.
Where does the 16% come from? How was it derived?

 

[2ndguess]

When have Corps trickle down to the average worker or created jobs?

I can agree with your flat tax. I don't understand why Corp taxes were cut in half while individuals went down 1% AND individuals expire.

To address NJFan, I mean 2ndGuess, we may see more in our paycheck, but they are washed out by less deductions and higher insurance premiums.

Yeah, I'm not NJ fan.

"Why would Republican leaders, keenly aware of a distrusting public's view that these cuts were truly earmarked for big corporations rather than the middle class, fuel these concerns by making individual cuts temporary and corporate cuts permanent? Because Republicans are also keenly aware that should things swing, and a Democrat win the White House in 2024, the future President will face tremendous pressure -- even by a Dem-controlled Congress -- to extend any expiring individual cuts. Should the corporate cuts have been made temporary, however, a future Democratic President would have had a much easier time allowing those cuts to expire. Thus, by structuring the bill in the manner in which it did, Republican leaders ensure that both the individual and corporate cuts will survive."
Tony Nitti , CONTRIBUTOR Forbes

So the easy answer is politics...

 

[sammyk]

2024 ha that's funny. Come on NJ fan even you know better than that

 

[2ndguess]

2024 ha that's funny. Come on NJ fan even you know better than that

I am not NJ.

You don't think politicians plan things that far out?

 

[sammyk]

Trump will not last that long