On to President Trump's desk!

I'm not gonna lie. I'm looking forward to seeing how this effects my checks.

It is a great bill for Corporations.

(12-20-2017 02:44 PM)dawgitall Wrote:  It is a great bill for Corporations.

Rightfully so after being subjected to one of the highest highest rates in a first-world country for so long.

(12-20-2017 02:58 PM)200yrs2late Wrote:  

(12-20-2017 02:44 PM)dawgitall Wrote:  It is a great bill for Corporations.

Rightfully so after being subjected to one of the highest highest rates in a first-world country for so long.

There is a good argument for it. It just shouldn't be framed as a middle class tax cut bill. It is a corporate tax cut that includes some provisions for individuals.

(12-20-2017 03:06 PM)dawgitall Wrote:  

(12-20-2017 02:58 PM)200yrs2late Wrote:  

(12-20-2017 02:44 PM)dawgitall Wrote:  It is a great bill for Corporations.

Rightfully so after being subjected to one of the highest highest rates in a first-world country for so long.

There is a good argument for it. It just shouldn't be framed as a middle class tax cut bill. It is a corporate tax cut that includes some provisions for individuals.

All the individual rates are going down, there's no way to spin that. The average, middle class family of 4 making $77,000 is getting a cut of $2,000.

You're on the wrong side of this argument.

AT&T employees getting $1,000 bonuses off the back of this. Wow! Congrats, AT&T employees!

(12-20-2017 03:13 PM)Kronke Wrote:  AT&T employees getting $1,000 bonuses off the back of this. Wow! Congrats, AT&T employees!

Now, hopefully other companies will follow their lead. Hell, when stupid nonsense happens (tearing down Confederate statues, claiming sexual assault from 30 years ago) every one comes out of the woodworks to copy cat that. Maybe the same principle will apply here.

Overall, the new bill is a disappointment.

And the AT&T case before the Justice Department disappears in 3....2.....

No real spike in the Dow yet (down slightly so far today). Probably means nothing. Interesting though.

(12-20-2017 03:21 PM)Redwingtom Wrote:  No real spike in the Dow yet (down slightly so far today). Probably means nothing. Interesting though.

It's been a certainty to get done for a while now, and has already been priced in.

(12-20-2017 03:16 PM)HeartOfDixie Wrote:  Overall, the new bill is a disappointment.

It's a step in the right direction. My hope is that the Republicans will gain a few seats in the 2018 elections and be able to do true tax reform. Short of that, I'll settle for a 2018 focus on cutting spending.

(12-20-2017 03:22 PM)Kronke Wrote:  

(12-20-2017 03:21 PM)Redwingtom Wrote:  No real spike in the Dow yet (down slightly so far today). Probably means nothing. Interesting though.

It's been a certainty to get done for a while now, and has already been priced in.

I suppose. Still, trumps percentage increase in the DOW his first 11 months was less than Obama's.

(12-20-2017 03:27 PM)Redwingtom Wrote:  

(12-20-2017 03:22 PM)Kronke Wrote:  

(12-20-2017 03:21 PM)Redwingtom Wrote:  No real spike in the Dow yet (down slightly so far today). Probably means nothing. Interesting though.

It's been a certainty to get done for a while now, and has already been priced in.

I suppose. Still, trumps percentage increase in the DOW his first 11 months was less than Obama's.

Trump didn't take over at the bottom of a recession, either, did he?

(12-20-2017 03:13 PM)Kronke Wrote:  AT&T employees getting $1,000 bonuses off the back of this. Wow! Congrats, AT&T employees!

(12-20-2017 03:24 PM)200yrs2late Wrote:  

(12-20-2017 03:16 PM)HeartOfDixie Wrote:  Overall, the new bill is a disappointment.

It's a step in the right direction. My hope is that the Republicans will gain a few seats in the 2018 elections and be able to do true tax reform. Short of that, I'll settle for a 2018 focus on cutting spending.

Again, if history holds, they will lose the house in 2018. If the impact of this bill is not immediate, it's pretty much a certainty.

And they're going to have to decrease spending because no way the tax revenues will increase to match the decrease due to the tax cuts. So first on the chopping block, as they've already said, will be entitlements of Medicare and Social Security, which will decimate their key voting constituency, older Americans.

(12-20-2017 03:28 PM)Owl 69/70/75 Wrote:  

(12-20-2017 03:27 PM)Redwingtom Wrote:  

(12-20-2017 03:22 PM)Kronke Wrote:  

(12-20-2017 03:21 PM)Redwingtom Wrote:  No real spike in the Dow yet (down slightly so far today). Probably means nothing. Interesting though.

It's been a certainty to get done for a while now, and has already been priced in.

I suppose. Still, trumps percentage increase in the DOW his first 11 months was less than Obama's.

Trump didn't take over at the bottom of a recession, either, did he?

Nope...Obama left him in great shape. But don't forget the massive job losses the first quarter of Obama's term due to the failing Bush reign.

Thanks Obama!

(12-20-2017 03:30 PM)Redwingtom Wrote:  

(12-20-2017 03:24 PM)200yrs2late Wrote:  

(12-20-2017 03:16 PM)HeartOfDixie Wrote:  Overall, the new bill is a disappointment.

It's a step in the right direction. My hope is that the Republicans will gain a few seats in the 2018 elections and be able to do true tax reform. Short of that, I'll settle for a 2018 focus on cutting spending.

Again, if history holds, they will lose the house in 2018. If the impact of this bill is not immediate, it's pretty much a certainty.

And they're going to have to decrease spending because no way the tax revenues will increase to match the decrease due to the tax cuts. So first on the chopping block, as they've already said, will be entitlements of Medicare and Social Security, which will decimate their key voting constituency, older Americans.

I agree 100% but why should they care. They will be laughing all the way to the bank.

(12-20-2017 03:12 PM)Kronke Wrote:  

(12-20-2017 03:06 PM)dawgitall Wrote:  

(12-20-2017 02:58 PM)200yrs2late Wrote:  

(12-20-2017 02:44 PM)dawgitall Wrote:  It is a great bill for Corporations.

Rightfully so after being subjected to one of the highest highest rates in a first-world country for so long.

There is a good argument for it. It just shouldn't be framed as a middle class tax cut bill. It is a corporate tax cut that includes some provisions for individuals.

All the individual rates are going down, there's no way to spin that. The average, middle class family of 4 making $77,000 is getting a cut of $2,000.

You're on the wrong side of this argument.

I think your math is kind of fuzzy here. $2,000 would be at the top end of the tax decrease. Rates went down but due to the loss of the personal exemption taxable income will go up in many if not most cases. The increase of the CTC is where many middle incomers will come out but when your child turns 17 that credit is gone.

I agree with dawgitall. A corporate tax cut mainly. Sure most Americans will see a tax decrease but for most it will be nominal.