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Featured Wow! Trump spot on with Economics!

Discussion in 'Political Debate & Discussion' started by steaver, Aug 8, 2016.

  1. steaver

    steaver Well-Known Member

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    Trump delivered a spot on speech Monday on the state of this countries economics and the same old failed policies of the democratic party. Just look at Detroit. Hillary responds with more lies that she isn't going to raise taxes on the middle class and that if we just take the money from all the evil rich folks all the countries economic problems will vanish. (Has anyone told Hillary how filthy rich she is? I wonder if she ever volunteered to pay a few extra million in taxes each year. She is allowed you know).
     
  2. Lewis

    Lewis Active Member

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    It was a good speech.

    "The one common feature of every Hillary Clinton idea is that it punishes you for working and doing business in the United States. Every policy she has tilts the playing field towards other countries at our expense," Trump said.
     
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  3. InTheLight

    InTheLight Well-Known Member

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    Meh. I read it, and it sounded like every Republican economic speech from the last 30 years or so. It's kind of ironic to be complaining about Hillary offering the same tired solutions to economic problems and then offering the same old solutions that Republicans offer. (BTW, I agreed with most everything Trump said.)
     
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  4. steaver

    steaver Well-Known Member

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    But I never heard either side say they were determined to make trading with other countries fair. Trade deals are suppose to favor BOTH sides, not these huge deficits we have seen over and over again.
     
  5. InTheLight

    InTheLight Well-Known Member

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    Please name the trade deal we have with China?

    Also, Trump's child care tax credit is an obvious ploy to appeal to women but it likely won't help low income or middle class taxpayers.

    Sent from my Motorola Droid Turbo
     
  6. Salty

    Salty 20,000 Posts Club
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    I still would like to know what the D's definition of "fair share of taxes" is?
    and does that apply to the 47% of working Americians who pay NO federal income tax?
     
  7. steaver

    steaver Well-Known Member

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    Why?
     
  8. Crabtownboy

    Crabtownboy Well-Known Member

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    Trump's plan is a rehash of the failed trickle down policy of the past.
     
  9. InTheLight

    InTheLight Well-Known Member

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    Just wondering what you know about it.

    Sent from my Nexus 7 using Tapatalk
     
  10. steaver

    steaver Well-Known Member

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    The only time in my life time that the economy boomed is when taxes were reduced on the job creators. So if you call that "failed" I don't know how that gives your arguments any merit.
     
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  11. steaver

    steaver Well-Known Member

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    I haven't studied it if that is what you mean. All I know is Hillary, Trump and Bernie all three agree the deals that we have, have not benefited our economy. Haven't seen anyone step up and say the status quo is working just fine.
     
  12. Crabtownboy

    Crabtownboy Well-Known Member

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    You must be quite young. The boom years were the years from the end of WW II to the Reagan era. He managed to start the down trend.
     
  13. InTheLight

    InTheLight Well-Known Member

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    Wow. History revisionism at it's worst.

    Yes, folks, according to CTB, Nixon's 2nd term, Ford's years, and esp. Carter's years were "boom" years! LOL!
     
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  14. Lewis

    Lewis Active Member

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    The biggest change is China becoming a member of the WTO.

    LINK- The Economist:

    " Yet the bet paid off for China. It has blossomed into the world's greatest exporter and second-biggest importer. The marriage of foreign know-how, Chinese labour and the open, global market has succeeded beyond anyone's predictions...

    "It is instead China's trading partners who now contemplate its WTO membership with furrowed brows. They have a variety of complaints: that China exports too much, swamping their markets with cheap manufactured goods, subsidised by an undervalued currency; that it hoards essential inputs, such as rare earths, for its own firms; and that it still skews its own market against foreign companies, in some cases by being slow to implement WTO rules (notably on piracy), in others by suddenly imposing unwritten rules that are unfavourable or unknowable to foreigners. The meddling state lets multinationals in, only to squeeze them dry of their valuable technologies and then push them out."
     
  15. steaver

    steaver Well-Known Member

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    Well if I was eight years old I would understand the last eight years of Demo Obama was a disaster! And Hillary believes the economy is just great! We just need to stay the course! And remember, Obama had total control to do whatever he wanted the first 2 years, so he FAILED!
     
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  16. steaver

    steaver Well-Known Member

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    So what is your solution Crabby? Tax the rich? You and Hillary really think taking all the rich folks money will create jobs?
     
  17. Smyth

    Smyth Active Member

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    The weight of government is heaviest on the working poor who don't have children.

    Adding various taxes and government fees, a person -- without kids -- earning minimum wage pays a third of his income to the government. I doubt there's any billionaire in America that pays even half that tax rate, but they could pay it with ease.

    The biggest problem is those who get money from the government (poor parents, a stunning number of able-bodied people who collect disability, and government employees) see voting for Democrats as an opportunity to increase their income.

    Another problem is most of the working poor have no idea of how much they're actually paying in taxes (and self-defeating Republicans are there to tell them they're paying nothing, an error seemingly confirmed by their small tax refund when they file taxes). These people emotionally think the government is free to them, so they'll vote for more government, for Democrats.
     
  18. InTheLight

    InTheLight Well-Known Member

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    Where do you come up with moronic statements like this? Do you have any idea that poor people basically pay no income tax?

    Yeah, well you don't have a clue either.

    They pay payroll taxes of 7.65%. (FICA 6.2%; Medicare 1.45%)

    They might have federal income tax withheld but they get most, if not all of it back when they file their return (presuming they take advantage of all the rebates and credits) If even they don't get anything back, a single person with no children earning $7.25 an hour working full time would make $290 a week and have $17 per week withheld. That's a 5.9% tax rate. https://www.irs.gov/uac/about-publication-15

    They pay sales taxes.

    If they own a car (unlikely) they pay gasoline taxes and license tab fees.

    If they own a house (unlikely), they pay property taxes. They would get a good chunk of that back when they file their property taxes.

    So please tell me how these taxes could possibly add up to one-third of their income?
     
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  19. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member

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    . You beat me to it! LOL
     
  20. Smyth

    Smyth Active Member

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    I could be drunk and in a comma and I'd still have more of a clue than you.

    Most poor people don't get property tax refunds. Someone earning minimum wage pays upwards of 10% of their income to property taxes for a modest home and car, unless their possessions are utterly modest. (Why should poor people be have to be homeless just to avoid you claiming they don't pay taxes. If they rent, they're still paying property taxes, and their cost of living is higher than owning a house.)

    Poor people pay the highest percent of their income to sales taxes, which are roughly 8% when they do pay it.

    I pay $720/year to city utilities before even a penny of cost is added for utility consumption. That's a fixed expense, regardless of how much I earn or consume.

    The working class pays double what you think for payroll taxes. The nominal employer's portion is still the worker's earnings. FICA and Medicare also aren't the only payroll taxes most people pay.

    Then there is the 5.9% effective income tax rate..

    Minimum wage full time is about $15,000, and adding up all this comes to almost exactly a third of that.

    And I still haven't gotten to extra taxes they pay on such thing as phone service, gasoline, and alcohol.

    But, many poor people don't get $15,000/year because most employers don't give unskilled workers anything close to 40 hours/week, even if they pay them a bit above minimum wage. The percentage of their income that goes the government increases as their income goes down.
     
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