Merry Christmas: Senate Passes Tax Cut Bill 51-49

[InTheLight]

Corporate CEO's have stated they plan to use the benefits of this bill to repurchase their stock and to increase dividends not to increase wages, R&D or capital equipment purchases. In other words, almost all of the benefits go to the top 1% and very little to the rest of us. In fact many middle class Americans will see their taxes go up.


https://www.bloomberg.com/news/articles/2017-11-29/trump-s-tax-promises-undercut-by-ceo-plans-to-reward-investors


Robert Bradway, chief executive of Amgen Inc., said in an Oct. 25 earnings call that the company has been “actively returning capital in the form of growing dividend and buyback and I’d expect us to continue that.” Executives including Coca-Cola CEO James Quincey, Pfizer Chief Financial Officer Frank D’Amelio and Cisco CFO Kelly Kramer have recently made similar statements.

“We’ll be able to get much more aggressive on the share buyback” after a tax cut, Kramer said in a Nov. 16 interview.

U.S. voters disapprove of the Republican tax legislation by a two-to-one margin, according to a Quinnipiac University poll released Nov. 15, and corporate promises to return any windfall to investors aren’t helping the White House sales effort. The Trump administration has appeared flummoxed. At a Nov. 14 speech to the Wall Street Journal CEO Council by Trump’s top economic adviser, Gary Cohn, the moderator asked business leaders in the audience for a show of hands if they planned to reinvest tax cut proceeds. Few people responded.


“Why aren’t the other hands up?” Cohn asked.

Yep. I posted that same article about a week ago.

First year of implementation will be dividends, stock buy backs, money movement, and executive bonuses. I've already acknowledged that.

The economy will heat up and the labor market will too, with labor supply becoming very tight. This will lead to higher wages and hiring frenzies, and theoretical zero unemployment. It's Econ 101, but maybe I'm assuming too much of you?

Sent from my Pixel 2 XL

 

[InTheLight]

Do you have any idea what's in this bill?

Do you?

Without Googling, what will be the top personal rate in the Senate bill? How about the House bill?

What's the deductibility rate for wages for pass-through entities?



Sent from my Pixel 2 XL

 

[Earth Wind and Fire]

Do you?

Without Googling, what will be the top personal rate in the Senate bill? How about the House bill?

What's the deductibility rate for wages for pass-through entities?



Sent from my Pixel 2 XL

I will take a “we will see” approach to this whole thing, however I will not stay idle if I get hurt.

 

[Earth Wind and Fire]

He said, "why do you call me good?" He said nothing about him being in charge, or the other stuff you're pushing. Jesus said explicitly, only God is good. He also called himself good in many passages (The good shepherd for instance). The conclusion is unescapable. Jesus is good therefore, he's God. This is simple exegesis. If Jesus is not good, he is not God.

Who said he isn’t God?

 

[Earth Wind and Fire]

He said, "why do you call me good?" He said nothing about him being in charge, or the other stuff you're pushing. Jesus said explicitly, only God is good. He also called himself good in many passages (The good shepherd for instance). The conclusion is unescapable. Jesus is good therefore, he's God. This is simple exegesis. If Jesus is not good, he is not God.

The teachable moment is lost on you

 

[Calminian]

The teachable moment is lost on you

But, unfortunately, the teaching of Scripture is lost on you. You're one of those people that likes to twist the Text to make it say what you want it to say, and in the process, miss the intended meaning.

 

[Earth Wind and Fire]

But, unfortunately, the teaching of Scripture is lost on you. You're one of those people that likes to twist the Text to make it say what you want it to say, and in the process, miss the intended meaning.

Shame on me... guess I’m going to hell where I will meet all my friends and associates and we will laugh and laugh.

Here is another one for you, the Bible says that money is the answer to all things... do you think it is?

 

[Calminian]

Shame on me... guess I’m going to hell where I will meet all my friends and associates and we will laugh and laugh.

Here is another one for you, the Bible says that money is the answer to all things... do you think it is?

I think you need to dust off that old Bible on your coffee table or closet and actually read it.

 

[Earth Wind and Fire]

I think you need to dust off that old Bible on your coffee table or closet and actually read it.

You have not answered my question...again from scripture, Ecclesiastes 10:19

 

[Calminian]

Sorry, I saw a claim not a question. What question are you asking?

 

[Earth Wind and Fire]

Sorry, I saw a claim not a question. What question are you asking?

Then you have poor reading comprehension. Try reading the post again.

 

[Calminian]

Then you have poor reading comprehension. Try reading the post again.

Forgive me, I'm not following you. My suggestion remains the same, though. When you read Scripture, look for the intent of the author rather than the desire of your heart. Scripture is only a treasure when you glean the actual thoughts of God.

 

[InTheLight]

I will take a “we will see” approach to this whole thing, however I will not stay idle if I get hurt.

How do you get hurt by keeping more of your own money? Seriously, I need someone to explain it to me.

Don't blame the tax cut bill for outrageously high property taxes in New Jersey. Number #3 in the nation.
https://files.taxfoundation.org/20170920170754/PropTaxesPerCap-01.png

 

[InTheLight]

I should put this in the "How the MSM reports biased news" thread, but here goes.

WaPo did a story on how the new tax reform bill will affect ONE DISTRICT IN NEW JERSEY. Not the nation, but one carefully selected congressional district. Turns out it is NJ's 3rd Congressional district, represented by a Republican, Tom MacArthur. MacArthur voted for the tax reform bill after a clause was added to exempt the first $10,000 paid in property taxes. MacArthur claimed that nearly every taxpayer in his district would benefit from the tax bill once the clause was added.

So WaPo does this lengthy story and after looking at all the data concludes,

MacArthur said the $10,000 cap would cover “nearly every taxpayer” in his district. It turns out that means 93 percent, which leaves out 24,000.


Yes, and Isn't 93 out of 100 taxpayers, "nearly everyone"? It is in my book.

But WaPo gives him two Pinnochio's for "lying".

Can you believe this?

Analysis | The GOP’s $10,000 cap on property tax deductions and how it affects one congressional district

 

[Earth Wind and Fire]

Forgive me, I'm not following you. My suggestion remains the same, though. When you read Scripture, look for the intent of the author rather than the desire of your heart. Scripture is only a treasure when you glean the actual thoughts of God.

Well I believe that I have and you should also ... you do that by not looking at scripture from the ideas that are presented... ie not being an idealist, someone always looking at the world with rose colored glasses which is exactly what Jesus is saying when he states the supremacy and utter goodness of Gods nature, ( not mans nature ) ... man being utterly evil and only God can change that.

Next, money is not intrinsically bad, indeed it is necessary for our worldly lives and we need to be aware of it and be good stewards of it. Today I contributed money to a charity that will provide food, clothing and warmth to someone. Therefore I view money as God’s earthly token...something we must not abuse.

 

[Calminian]

Well I believe that I have and you should also ... you do that by not looking at scripture from the ideas that are presented... ie not being an idealist, someone always looking at the world with rose colored glasses which is exactly what Jesus is saying when he states the supremacy and utter goodness of Gods nature, ( not mans nature ) ... man being utterly evil and only God can change that.

Sorry, but that is not remotely close to what Jesus saying in the passage you cited. Your point might have been correct, but the Scripture cited did not speak to it.

Next, money is not intrinsically bad, indeed it is necessary for our worldly lives and we need to be aware of it and be good stewards of it. Today I contributed money to a charity that will provide food, clothing and warmth to someone. Therefore I view money as God’s earthly token...something we must not abuse.

I don't ever recall making the point money was bad. Still not following.

 

[Earth Wind and Fire]

I should put this in the "How the MSM reports biased news" thread, but here goes.

WaPo did a story on how the new tax reform bill will affect ONE DISTRICT IN NEW JERSEY. Not the nation, but one carefully selected congressional district. Turns out it is NJ's 3rd Congressional district, represented by a Republican, Tom MacArthur. MacArthur voted for the tax reform bill after a clause was added to exempt the first $10,000 paid in property taxes. MacArthur claimed that nearly every taxpayer in his district would benefit from the tax bill once the clause was added.

So WaPo does this lengthy story and after looking at all the data concludes,

MacArthur said the $10,000 cap would cover “nearly every taxpayer” in his district. It turns out that means 93 percent, which leaves out 24,000.


Yes, and Isn't 93 out of 100 taxpayers, "nearly everyone"? It is in my book.

But WaPo gives him two Pinnochio's for "lying".

Can you believe this?

Analysis | The GOP’s $10,000 cap on property tax deductions and how it affects one congressional district

South Central Burlington county does not represent my district nor does it represent most or any community in northern nj

 

[Earth Wind and Fire]

Sorry, but that is not remotely close to what Jesus saying in the passage you cited. Your point might have been correct, but the Scripture cited did not speak to it.



I don't ever recall making the point money was bad. Still not following.

Forget it

 

[Earth Wind and Fire]

How do you get hurt by keeping more of your own money? Seriously, I need someone to explain it to me.

Don't blame the tax cut bill for outrageously high property taxes in New Jersey. Number #3 in the nation.
https://files.taxfoundation.org/20170920170754/PropTaxesPerCap-01.png

That’s because we are affluent.. a corridor between NY and Philadelphia That equates to more jobs and prosperity... something I believe we will be punished for.

 

[InTheLight]

That’s because we are affluent.. a corridor between NY and Philadelphia That equates to more jobs and prosperity... something I believe we will be punished for.

You have high property tax rates in New Jersey because there are affluent people there? I'm not understanding. New Jersey has the 3rd highest property tax rate in the nation. Please explain the relationship between high property tax rates and affluence.