Out of 42 top economists, only 1 believes that Trump's tax policy will improve the economy

[ShadowRun]

This needs to be merged with the other on going thread what Forbes said about the tax plan

 

[Lead]

Could've had a decent proposal here but the estate tax portion is a deal breaker for me. The cap is high enough.

 

[Unknown Pleasures]

It's truly bizarre that poor people fight the hardest for the wealth of Oligarchs.

That's what makes the system work.

 

[Unknown Pleasures]

42? What an odd number. Where did they get these economist? Must've filtered a lot of people.

And then I read the article and it's all professors. One of them was from Yale. We all know what kind of school Yale has become. Even Simpsons made fun of them. I would like to hear from REAL economists working in the real world. Calling professors top of their profession is like saying Astronomy professors > NASA.

They didn't even give us any concrete educated evidence: “How could it be otherwise?” asked MIT’s Daron Acemoglu. “Cut taxes. Lose money." No shit Sherlock!!

Sounds like this guy is anti-tax cut all around.

I would like to hear real economist crunching numbers and giving us a more detailed analysis than "cut tax lose money". Maybe we should increase taxes until we're out of debt.

Aren't you the person who had never heard of Janet Yellen?

I don't think talking economics is your forté.

 

[HomerThompson]

That's what makes the system work.

LOL, it's totally true.

 

[AviatorShades]

Homeopathy fan detected.

Homoeopathy has it's own set of experts

 

[HomerThompson]

Aren't you the person who had never heard of Janet Yellen?

I don't think talking economics is your forté.

 

[Unknown Pleasures]

PROLOGUE: LOL then 42 out of 42 of the "top economists" believe that mass islamic refugee immigration will be economically beneficial!!!!

Wow, Madmick, if this does not convince us to listen to these guys nothing will!

Main Body:

Again, what is the Tapology of these guys? Where can I find out the VERIFIABLE record of their economic predictions being true???

Why are they "the top 42 economists"????
Why is Thomas Sowell not on there, besides there seems to be zero black opinion on the matter??? Not calling it a racist survey at all.

Did you even bother going to the link and from the link seeing who these "experts" were and their creds????
I did and they all seem like ideologue leftists

EXAMPLES:

Christopher Udry
Yale
Chair of the Council on African Studies (Yale University; 1999–02, 2005–06)
Refugees in Germany
The influx of refugees into Germany beginning in the summer of 2015 will generate net economic benefits for German citizens over the succeeding decade.
Agree

Lol, chair of a neo-marxist field...no not an ideologue. Sorry, I will pass on the MC Serch of economics

Judith Chevalier
Yale

Refugees in Germany
The influx of refugees into Germany beginning in the summer of 2015 will generate net economic benefits for German citizens over the succeeding decade.
Agree

Fucking LULZ!!!!

Joseph Altonji
Yale
Refugees in Germany
The influx of refugees into Germany beginning in the summer of 2015 will generate net economic benefits for German citizens over the succeeding decade.
Agree

Final Conclusion:
The only thing these old dried crackers are good for is to dip in steaming hot soup, devour, and crap out in a truck stop bathroom stall with a hole in the side waist high.

Holy fuck, it seems like there's always someone on Sherdog who wants to turn everything into a discussion about Islamic immigration. Like a bot written with two lines of code.

 

[HIMBOB]

I vote R the vast majority of the time. Which is why their current direction is so frustrating. I only vote in one state though and my choice doesn't always get the local nomination. And, as always, I can criticize the GOP without it requiring that I endorse the Dems.

This tax cut for example would be fine if it came with a spending cut. But it doesn't. Similarly, we have very low unemployment but stagnant wage growth. Nothing in the current model is going to change any of that. They didn't eliminate the tax deductions that, imo, are the least useful (like the mortgage interest deduction and property tax deduction) but did eliminate the one that actually helps middle class taxation (state and local tax deductions).

Actually, let's focus just on that for a moment. Eliminating the state and local tax is insanely stupid. It punishes every state with an income tax. It incentivizes people to move to low tax states. The problem with low tax states is that they can't fund shit, especially if they see a population uptick. So it's going to push states towards greater economic insolvency over time.

The deductions that were left in place, mortgage interest and property tax, primarily benefit banks and the already well-to-do. Property taxes generally fund local schools so this just exacerbates the school stratification issue since low tax states will have less money to drop into the general education coffers.

The mortgage interest deduction serves no purpose at all in this day and age. All it does it up the amount of money that people borrow and the interest that the banks collect. Eliminating it would probably drop the overall value of houses but only by the amount that the deduction was inflating prices so the long term effect is probably moot (not to mention that you can grandfather current mortgages). Housing prices would still increase at the same rate for new purchases since the supply and demand for property isn't affected by the deduction.

Those 2 choices alone (eliminating state and local deductions while keeping mortgage interest and property tax deduction) make this an extremely flawed approach, imho, unless the goal is to fuck over states and reward banks.

It does seem odd to get a tax deduction for interest expense on a personal (non investment) asset.

Do you guys pay CGT when selling your primary residence?

 

[InternetHero]

All most founding fathers were wealthy and educated.

If the American revolution had been led by an iliterate rube, it wouldnt had amounted to much.

All most founding fathers were wealthy and educated.

If the American revolution had been led by an iliterate rube, it wouldnt had amounted to much.

True of course.

But how many men were able to rise past nobility and class thanks to the intellectuals of elite creating a government that resisted those universal human conditions?

 

[Rod1]

True of course.

But how many men were able to rise past nobility and class thanks to the intellectuals of elite creating a government that resisted those universal human conditions?

So what you are saying is that having a country where people can get ahead based on personal merit independently of where and who are they born from is more important than how rich your daddy is/was?

I agree.

 

[OverCoronavirus Pressure]

Drain the swamp with a gigantic tax cut for the wealthy!

 

[chs140]

That's not what's happening in the tax plan.

I was replying to someone who supports redistribution my point stands.

 

[Rational Poster]

I was replying to someone who supports redistribution my point stands.

 

[kpt018]

Could've had a decent proposal here but the estate tax portion is a deal breaker for me. The cap is high enough.

What parts do you like?

In my mind reducing the top rate for corps is dumb (why not the smaller less profitable corps?), the pass through tax cut has the same problem but is also ripe for abuse and the middle income cuts expire and raise taxes in the long run. And it turns out, unsurprisingly, that the plan will do jack shit to boost the economy. Aside from the timing being bad too (full employment, strong economy now).

Personally I’m having trouble finding any redeeming qualities in this plan. Theoretically they could have made corporate taxation more fair and reduce rates in a revenue neutral way, which is a good idea, but that’s not what they’re doing.

 

[kpt018]

Drain the swamp with a gigantic tax cut for the wealthy!

Cuts led by Wall Street guys, who really are the worst. If you’re stuck on getting a business guy instead of an intellectual why not a person who built a great company from scratch and who actually makes things, hires lots of people, etc.. investor types tend to have a poor grasp on how companies operate compared to people who actually operate companies.

 

[Lead]

What parts do you like?

In my mind reducing the top rate for corps is dumb (why not the smaller less profitable corps?), the pass through tax cut has the same problem but is also ripe for abuse and the middle income cuts expire and raise taxes in the long run. And it turns out, unsurprisingly, that the plan will do jack shit to boost the economy. Aside from the timing being bad too (full employment, strong economy now).

Personally I’m having trouble finding any redeeming qualities in this plan. Theoretically they could have made corporate taxation more fair and reduce rates in a revenue neutral way, which is a good idea, but that’s not what they’re doing.

Kinda what you mention. I think corporate rates should drop but also like you said, I want plans put forward that remain revenue neutral or close so it doesn't really accomplish all of that. Same case with individuals. There's a lot of deductions economists agree aren't good and should be removed and have the rates adjusted. The problem is it never is politically sound to do so even though it's good policy

 

[electricfuneral]

Aren't you the person who had never heard of Janet Yellen?

I don't think talking economics is your forté.

 

[21 Savage]

PROLOGUE: LOL then 42 out of 42 of the "top economists" believe that mass islamic refugee immigration will be economically beneficial!!!!

Wow, Madmick, if this does not convince us to listen to these guys nothing will!

Main Body:

Again, what is the Tapology of these guys? Where can I find out the VERIFIABLE record of their economic predictions being true???

Why are they "the top 42 economists"????
Why is Thomas Sowell not on there, besides there seems to be zero black opinion on the matter??? Not calling it a racist survey at all.

Did you even bother going to the link and from the link seeing who these "experts" were and their creds????
I did and they all seem like ideologue leftists

EXAMPLES:

Christopher Udry
Yale
Chair of the Council on African Studies (Yale University; 1999–02, 2005–06)
Refugees in Germany
The influx of refugees into Germany beginning in the summer of 2015 will generate net economic benefits for German citizens over the succeeding decade.
Agree

Lol, chair of a neo-marxist field...no not an ideologue. Sorry, I will pass on the MC Serch of economics

Judith Chevalier
Yale

Refugees in Germany
The influx of refugees into Germany beginning in the summer of 2015 will generate net economic benefits for German citizens over the succeeding decade.
Agree

Fucking LULZ!!!!

Joseph Altonji
Yale
Refugees in Germany
The influx of refugees into Germany beginning in the summer of 2015 will generate net economic benefits for German citizens over the succeeding decade.
Agree

Final Conclusion:
The only thing these old dried crackers are good for is to dip in steaming hot soup, devour, and crap out in a truck stop bathroom stall with a hole in the side waist high.

wew lad

 

[HOLA]

It's truly bizarre that poor people fight the hardest for the wealth of Oligarchs.

Reminds me of Slaughterhouse Five.

“America is the wealthiest nation on Earth, but its people are mainly poor, and poor Americans are urged to hate themselves. To quote the American humorist Kin Hubbard, 'It ain’t no disgrace to be poor, but it might as well be.' It is in fact a crime for an American to be poor, even though America is a nation of poor. Every other nation has folk traditions of men who were poor but extremely wise and virtuous, and therefore more estimable than anyone with power and gold. No such tales are told by the American poor. They mock themselves and glorify their betters. The meanest eating or drinking establishment, owned by a man who is himself poor, is very likely to have a sign on its wall asking this cruel question: 'if you’re so smart, why ain’t you rich?' There will also be an American flag no larger than a child’s hand – glued to a lollipop stick and flying from the cash register.