Merry Christmas: Senate Passes Tax Cut Bill 51-49

Not a single Democrat, "warrior for the working class" voted to reduce your taxes.

 

So borrowing 2 trillion from the Chinese is the right thing to do for Americans?

 

Fantastic. Another promise kept by Trump. This should get the nation on track for 4% and higher GDP growth. Buckle up. Thank you Republicans.



Sent from my Motorola Droid Turbo.

 

They were having way too many problems with sexual predators on their side to focus on tax relief!

 

I did say EXACTLY this a few months ago.

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In fact, I wish I could have said this about the tax reform bill a few months ago. If you remember (probably not) I've been advocating quick passage of this bill since about inauguration day. I was wondering what took so long. Thankful that it's finally done.

It's going to take about two years for corporations to really start investing their new found earnings into equipment, expansion, and new hiring. I figure the first year they will use the extra money to retire debt, pay shareholder dividends, give out executive bonuses, and buy back their own stock. Then in year two they will start actually spending on tangible stuff.

Meanwhile, the stock market is going to go crazy. I figure it will be up another 15% - 20% by this time next year. Dow will be around 28,000 points. Good times.

 

Any plan on how to pay the 2 trillion back?

 

I'm sick and tired of being told the government is going to lose money if I get to keep mine. Cut spending!

Also, it's not going to be 2 trillion, it's more like a net of -520 billion over ten years. With the economic activity and job creation the tax cuts will bring I would call $52 billion a year a good deal.

 

How far in debt are we already?

 

$20 trillion.

The tax cut is not an expenditure. The tax cuts will create economic activity that will pay for it, or it won't. Remember we are talking about a tax cut that covers 10 years.

Look up the definition of "sunk cost".

Why not cut spending? With or without a tax cut they could have done that but haven't. So I say gimme my money back and the government can find ways to cut their own fat and slop.

 

And you think that’s going to happen?

 

Obama's economic stimulus was $830 billion over ten years. That's $83 billion a year. What did you get out of it? What did most people get out of it? Nada.

On the other hand 62% of Americans will see a significant tax cut. Most corporations will see a significant tax cut.

 

Do I think there will be increased economic activity and job creation as a result of the tax cuts? Absolutely.

 

This doesn’t look so rosy to me in New Jersey so we will have to make up revenue by other means.

 

I’m a pessimist when it comes to having the government doing anything

 

Eliminate the useless half of government workers.

 

I agree and will go further... ie promote all types of gambling, prostitution and drugs and tax them. Increase luxury, tax churches... give them only what they need and tax them for everything else. And if they come into the state from other states, hit them hard. Also make these townships share facilities instead of being independent and encourage sub contractors for city work and fire the DPW maintenance crews. And I haven’t begun with austerity measures.