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Old Yesterday, 03:10 AM   #276
Hypoxia
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Originally Posted by Carnal_Flower View Post
Trump was just in FL yesterday whining and bitching about Washington. Meanwhile he's the one who agreed to cave in and is right now selling this bullshit as a "middle class tax cut."
It gets bad -- for the tax bill re-writers. California and other high-deduction states are working on plans to finesse their laws to retain SALT deductions, saving taxpayers a lot of money – but exploding the federal deficit. Gups are fucking with fire. Gonna burn their weenies right off.
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Old Yesterday, 04:39 AM   #277
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Originally Posted by Carnal_Flower View Post
Yes you can
No you can't, what you're saying is a bold face lie, you got called on it now own it.

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Originally Posted by Carnal_Flower View Post
Which is why I agree with lowering taxes and giving a lot of breaks to small, developing business, so they can grow. When they become yuge, it's a different story.
It's not at all a different story.

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Originally Posted by Carnal_Flower View Post
Not in the slightest degree that would make a difference.
Like I said, it doesn't meet the communist utopian criteria of magical money just showing up for everyone....so (D)'s hate it and say there is no such thing! It doesn't work!

LOL
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Old Yesterday, 06:52 AM   #278
DawnODay
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Originally Posted by Hypoxia View Post
It gets bad -- for the tax bill re-writers. California and other high-deduction states are working on plans to finesse their laws to retain SALT deductions, saving taxpayers a lot of money – but exploding the federal deficit. Gups are fucking with fire. Gonna burn their weenies right off.
You have to admire the chutzpah, if not the hypocrisy, of leftists suddenly claiming to care about national debt. They were fine with it when President Obama and the Democrats nearly doubled over two centuries' worth of accumulated debt in just 8 years (while gutting the military and never achieving even 3% GDP growth).



More importantly, moderate tax reforms such as those currently going to Conference Committee have historically increased government revenues. See, generally, B. Domitrovic & L. Kudlow, John F. Kennedy and Ronald Reagan Proved Tax Cuts Work, Time (Sep. 29, 2016); M. Geewax, JFK's Lasting Economic Legacy: Lower Tax Rates, NPR (Nov. 14, 2013); D. Mitchell, The Historical Lessons of Lower Tax Rates, (Aug. 13, 2003).

Indeed, if California and other high tax states can figure out a way "to finesse their laws to retain SALT deductions" (which I doubt they can do, as the IRS will be the primary arbiter of the issue), it would be a good thing. As I wrote yesterday:

Quote:
Originally Posted by DawnODay View Post
I heard on the radio a reputable source that the Senate version of tax reform would actually raise taxes on 14% of current taxpayers. The example given was an individual taxpayer, making $200,000.00 annually, who lives in a high tax state and itemizes. I think this is a big mistake.

The reason the Senate plan does this is because the Senate sought deficit neutrality based on recent economic conditions. What that ignores, of course, is that tax reforms like those being proposed inevitably lead to economic growth and increased revenue. Let's hope the Conference Committee comes up with a viable version that provides needed tax relief to all tax payers!
Somehow retaining the SALT deductions would fix the biggest flaw in the Senate version of reform!
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Old Yesterday, 07:48 AM   #279
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First we did care, and second Obama and the Democrats had relatively little to do with the doubling of the debt. It's kinda hard to be super mad when they simply cannot do anything.
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Old Yesterday, 12:31 PM   #280
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Also, the deficit would be rather less if Congress' corporate owners weren't receiving huge windfalls, which will be funneled to investors (many overseas), or used for stock buybacks, but not for job creation. Voodoo economics don't work.

Point is, Senate rules mandate deficits within certain limits, and if those limits are blown, they MUST reduce the payouts. As the article shows, state officials have recourse beyond yet more lawsuits. Convert non-deductibles into deductibles, all playing within the rules, and Gup traitors' projections are blown to shit. Start over, boys.

Oh, remember how Tromp promised higher corporate taxes, lower personal taxes, and a strengthened safety net? Ha ha. Fooled y'all, suckers. Tromp was right. Gup voters ARE the dumbest around.

PS: That Obama deficit increase? Remember that Dubya's gang collapsed the economy and left the n!gger the shitty job of cleaning up their fucking mess. N!ggers always get the shitty jobs. It's in the Constitution.

Last edited by Hypoxia : Yesterday at 12:34 PM.
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Old Yesterday, 01:11 PM   #281
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Why that's just silly.

The families and corporations will take that those billions and shovel it right into higher wages. Steve Mnuchin says so.


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Originally Posted by Hypoxia View Post
Also, the deficit would be rather less if Congress' corporate owners weren't receiving huge windfalls, which will be funneled to investors (many overseas), or used for stock buybacks, but not for job creation. Voodoo economics don't work.

Point is, Senate rules mandate deficits within certain limits, and if those limits are blown, they MUST reduce the payouts. As the article shows, state officials have recourse beyond yet more lawsuits. Convert non-deductibles into deductibles, all playing within the rules, and Gup traitors' projections are blown to shit. Start over, boys.

Oh, remember how Tromp promised higher corporate taxes, lower personal taxes, and a strengthened safety net? Ha ha. Fooled y'all, suckers. Tromp was right. Gup voters ARE the dumbest around.

PS: That Obama deficit increase? Remember that Dubya's gang collapsed the economy and left the n!gger the shitty job of cleaning up their fucking mess. N!ggers always get the shitty jobs. It's in the Constitution.
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Old Today, 12:38 AM   #282
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Originally Posted by DawnODay View Post
You have to admire the chutzpah
Owned.



Ruined.



Destroyed.

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Old Today, 08:04 AM   #283
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Originally Posted by DawnODay View Post
You have to admire the chutzpah, if not the hypocrisy, of leftists suddenly claiming to care about national debt. They were fine with it when President Obama and the Democrats nearly doubled over two centuries' worth of accumulated debt in just 8 years (while gutting the military and never achieving even 3% GDP growth).

Quote:
Originally Posted by dan_c00000 View Post
Owned.



Ruined.



Destroyed.

Oh dan_c00000, again you're either purposefully trying to ignore the actual issue, or just being dense. I put forth Obama's actual record, and you reply with imaginary hypotheticals.

In the case of your first graph, that's old and inaccurate news. It is based on an unrealistically low prediction of economic growth, already proven wrong by the current increase in GDP. (This raises again the original question: Why do you care so much about the projected $2 billion in debt under the now defunct Trump plan but seem to have no problem with the actual $9 billion debt imposed on us by President Obama?)

The other two graphs are hypothetical projections by pro-Hillary partisans from back in 2016! Like the first graph, they have nothing to do with either of the the current Congressional tax bills, nor with current economic conditions.

The only person "owned," "ruined," or "destroyed," by your display of either dishonesty or ignorance is yourself, and by your own hand.

On the other hand, as long as we are bringing Clintons into the debate, let's remember another, albeit less dramatic occasion, that tax cuts led to increased governmental revenues.
The effects of increasing taxes on Treasury receipts can be seen in the Clinton and Democrat-controlled congressional tax increase of 1993, one of the largest in history. Despite a more robust job market following a recession, the 1993 tax increase didn't accomplish what Democrats expected. The tax increases added very little to treasury receipts despite their magnitude. Reports from the Congressional Budget Office, the Office of Management and Budget, and the Internal Revenue Service all agree.

In fact, the balanced budgets of the Clinton years didn't occur until after a Republican Congress passed and the president reluctantly signed a 1997 tax bill that lowered the capital gains rate from 28% to 20%, added a child tax credit, and established higher limits on tax exclusion for IRAs and estates.
J. Shenk, The Successful Clinton Economy Was Based on Tax Cuts. No, Really..., American Thinker (Sep. 11, 2010) (bold type added); accord, J.D. Foster, Tax Cuts, Not the Clinton Tax Hike, Produced the 1990s Boom, Heritage (Mar. 4, 2008) ("Economic growth was solid but hardly spectacular in the years immediately following the 1993 tax increase. The real economic boom occurred in the latter half of the decade, after the 1997 tax cut. Low taxes are still a key to a strong economy.") (includes a full list of the 1997 Clinton tax cuts).

Thank you, dan_c00000, for reminding me, indirectly, at least, about the Bill Clinton tax cuts and how they improved the economy and led to increased government revenues.
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Old Today, 12:01 PM   #284
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Originally Posted by DawnODay View Post
[lotsa stuff]
Do you really expect people to scroll back and forth, left and right, over and over, to read your trite text? Hint: when posting or reposting wide images, keep your comments brief, or in a following post. Otherwise you're ignored.
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Old Today, 12:05 PM   #285
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Do you really expect people to scroll back and forth, left and right, over and over, to read your trite text? Hint: when posting or reposting wide images, keep your comments brief, or in a following post. Otherwise you're ignored.
The American Thinker links make it unworthy of attention. Too much fake news, as Trump says.
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Old Today, 12:14 PM   #286
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Originally Posted by Hypoxia View Post
It gets bad -- for the tax bill re-writers. California and other high-deduction states are working on plans to finesse their laws to retain SALT deductions, saving taxpayers a lot of money – but exploding the federal deficit. Gups are fucking with fire. Gonna burn their weenies right off.
Weird speaking of how California is gonna burn the weenies off the Fed when that whole damned state is currently ON FIRE and begging the Fed for money!
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Old Today, 12:19 PM   #287
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The amount of destruction I've brought upon dawn has been pretty said. Now all we have to do is wait for the inevitable "I'm a man pretending to be a woman on the internet" confession. I love how he quotes his own posts too, like I didn't already pound those into dust.

The Thinker is, of course, a racist rag and therefore fake news for triggered righty snowflakes.
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Old Today, 12:22 PM   #288
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The amount of destruction I've brought upon dawn has been pretty said. Now all we have to do is wait for the inevitable "I'm a man pretending to be a woman on the internet" confession. I love how he quotes his own posts too, like I didn't already pound those into dust.

The Thinker is, of course, a racist rag and therefore fake news for triggered righty snowflakes.
You obviously didn’t read the memo.. a ‘snowflake’ is a melting left winger who left the Javits Center like a sugar cube in a rainstorm
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Old Today, 02:04 PM   #289
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You still haven't turned yourself in, traitor. Quit delaying.
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Weird speaking of how California is gonna burn the weenies off the Fed when that whole damned state is currently ON FIRE and begging the Fed for money!
The whole West has been burning, or didn't you notice? And a non-trivial chunk of the South has been blown and flooded. And Puerto Rico, more populous than ~30 states, has been devastated. And more and more megastorms are coming. Guess them Global Warming folks are right, hey?

And the new tax bill would kill deductions for disaster expenses, so when the next climate catastrophes occur, and you've lost everything, you can just suck it up, whilst windfalls flow to shareholders, many foreign. Guess the Qatari Sovereign Fund needs your money more than you do, hey?

Aren't you yet ashamed of your treason? Turn yourself in now.
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Old Today, 03:20 PM   #290
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like a sugar cube in a rainstorm
Looks like you got

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Old Today, 03:21 PM   #291
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like a sugar cube in a rainstorm
What memo? There was a memo? Who sent it? Here let me send you a memo.

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Old Today, 04:32 PM   #292
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Originally Posted by DawnODay View Post
You have to admire the chutzpah, if not the hypocrisy, of leftists suddenly claiming to care about national debt. They were fine with it when President Obama and the Democrats nearly doubled over two centuries' worth of accumulated debt in just 8 years (while gutting the military and never achieving even 3% GDP growth).



More importantly, moderate tax reforms such as those currently going to Conference Committee have historically increased government revenues. See, generally, B. Domitrovic & L. Kudlow, John F. Kennedy and Ronald Reagan Proved Tax Cuts Work, Time (Sep. 29, 2016); M. Geewax, JFK's Lasting Economic Legacy: Lower Tax Rates, NPR (Nov. 14, 2013); D. Mitchell, The Historical Lessons of Lower Tax Rates, (Aug. 13, 2003).

Indeed, if California and other high tax states can figure out a way "to finesse their laws to retain SALT deductions" (which I doubt they can do, as the IRS will be the primary arbiter of the issue), it would be a good thing. As I wrote yesterday:



Somehow retaining the SALT deductions would fix the biggest flaw in the Senate version of reform!
If Reagan proved that "tax cuts work," why did the national debt triple when he was president? Why were more jobs created every year under Carter than Reagan? Why did Reagan have the longest and deepest recession since the Great Depression?
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Old Today, 06:33 PM   #293
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Originally Posted by The_Trouvere View Post
If Reagan proved that "tax cuts work," why did the national debt triple when he was president? Why were more jobs created every year under Carter than Reagan? Why did Reagan have the longest and deepest recession since the Great Depression?
You can also ask how the Clinton tax increases led to a booming economy and a budget surplus, but you won't get an answer.
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