Tax cuts - what you understand by this term?

[phipps66]

Yes they have shit pay but have you seen the type of people that get these types of jobs? There not the best workers and lot of them have minimal education.

Lol accuses Federal Employees of having minimal education, uses wrong "they're". Is normal.

And yes I am a Federal Employee.

 

[Revolver]

Lol accuses Federal Employees of having minimal education, uses wrong "they're". Is normal.

And yes I am a Federal Employee.

 

[freaky]

Tax cut balances itself out.

Tax cut = more money in people's pocket = more spending = higher wages/jobs = more income = more tax.

Economics 101

 

[MMAViewer]

Tax cut balances itself out.

Tax cut = more money in people's pocket = more spending = higher wages/jobs = more income = more tax.

Economics 101

nope, trickle down is a hoax!
tax cuts to the rich go off shore and into estates and tax shelters at a high %.
Give a poor man a break and that money is poured right back into the economy and taxed each time it changes hands!
Economics 102
You must have taken 101 from a red pill popper while they were pissing on your head calling it trickle down?

 

[freaky]

nope, trickle down is a hoax!
tax cuts to the rich go off shore and into estates and tax shelters at a high %.
Give a poor man a break and that money is poured right back into the economy and taxed each time it changes hands!
Economics 102
You must have taken 101 from a red pill popper while they were pissing on your head calling it trickle down?

"Much discussion has occurred regarding the optimum capital gains tax rate, with some calling for reductions in the belief that a lower rate will provide investors an incentive to invest in new stocks—which supply siders claim encourages the creation of new jobs, reduces unemployment, and has the paradoxical effect of increasing tax revenue."
https://en.wikipedia.org/wiki/Tax_cut


"Tax Cuts
During recessions, the government will occasionally offer a tax cut as an economic stimulus. In rough terms, a tax cut of one trillion dollars over ten years will "give back" an amount equal to about one percent of consumer spending annually over that period."
http://www.moneychimp.com/articles/econ/tax_cuts.htm

Just the first 2 link when I searched tax cut. Tax cut is not new. Why don't you just go research how previous tax cuts affected the economy. But also check out government spending and other stuffs. But in general, tax cuts have been beneficial. Also, it was the Democrats who originally favored tax cuts.

 

[MMAViewer]

"Much discussion has occurred regarding the optimum capital gains tax rate, with some calling for reductions in the belief that a lower rate will provide investors an incentive to invest in new stocks—which supply siders claim encourages the creation of new jobs, reduces unemployment, and has the paradoxical effect of increasing tax revenue."
https://en.wikipedia.org/wiki/Tax_cut


"Tax Cuts
During recessions, the government will occasionally offer a tax cut as an economic stimulus. In rough terms, a tax cut of one trillion dollars over ten years will "give back" an amount equal to about one percent of consumer spending annually over that period."
http://www.moneychimp.com/articles/econ/tax_cuts.htm

Just the first 2 link when I searched tax cut. Tax cut is not new. Why don't you just go research how previous tax cuts affected the economy. But also check out government spending and other stuffs. But in general, tax cuts have been beneficial. Also, it was the Democrats who originally favored tax cuts.

we are talking about diproportional tax cuts here, and be clear that continouse tax cuts are not a stimulus in a growing economy.
we are not in a bad economy at all in fact.
How far do you want to cut taxes for the rich?
How far do you want the debt and deficit to go?
do you understand the difference between the two?
do you understand the difference between stated and effective taxes?
How do you justify GE, Romney, and Trump paying so little in tax while you yourself pay much much more effectively?

 

[freaky]

we are talking about diproportional tax cuts here, and be clear that continouse tax cuts are not a stimulus in a growing economy.
we are not in a bad economy at all in fact.
How far do you want to cut taxes for the rich?
How far do you want the debt and deficit to go?
do you understand the difference between the two?
do you understand the difference between stated and effective taxes?
How do you justify GE, Romney, and Trump paying so little in tax while you yourself pay much much more effectively?

http://www.businessinsider.com/trump-gop-tax-reform-plan-bill-text-details-rate-2017-10

http://view.ceros.com/business-insider/desktop-tax-bracket-comparison-1/p/1

Looks like a tax cut across the board. The only ones who have seeing an increase in tax are the people who are making less than 10k a year going from 10% to 12%. Everyone else is seeing a tax reduction or staying the same.

What's the problem here? Are you making less than 10k a year?

 

[My Spot]

People on here still don't know the difference between a tax credit and a tax cut.

 

[Revolver]

So they want to limit state and local taxes to 10k? Fuck that.

they also want to limit mortgage interest deduction to 500k indebtedness. This is a joke.

 

[HIMBOB]

The tax code needs to change to incentivize corporations to pay their workers fairly.

Some kind of payroll tax credit based on payroll growth.

Something gotta give because they've all gotten together and convinced workers that a 3% annual raise is adequate.

3% is more than adequate if inflation is lower which it is.

However 3% is way higher than average. In the current climate 3% wage growth for the market is awesome but isolated.

I personally expect between 5 and 10%pa.

 

[Rational Poster]

3% is more than adequate if inflation is lower which it is.

However 3% is way higher than average. In the current climate 3% wage growth for the market is awesome but isolated.

I personally expect between 5 and 10%pa.

3% would be fine if wages had kept up with inflation historically, but it's way behind now and corporations are literally raking it in.

My company's revenue doubled in the past year. DOUBLED.

...and they took away bonuses for almost everyone.

 

[MMAViewer]

http://www.businessinsider.com/trump-gop-tax-reform-plan-bill-text-details-rate-2017-10

http://view.ceros.com/business-insider/desktop-tax-bracket-comparison-1/p/1

Looks like a tax cut across the board. The only ones who have seeing an increase in tax are the people who are making less than 10k a year going from 10% to 12%. Everyone else is seeing a tax reduction or staying the same.

What's the problem here? Are you making less than 10k a year?

www.politico.com/story/2017/11/02/tax-reform-house-gop-plan-244453
Here is another view.
Not sure we are making any headway here.
The cbo will be a more realistic look.
Also why are you ok with the people making less than 10k after taxes paying more while the rich who are doing very well in this economy will pay truck loads less? remember that the employment rate is staggeringly low so the ol job creates and trickle down won't be a fair argument.
I'm not blasting, just asking do you understand we are running at a huge deficit, in a strong economy that is poised to come down at the hint of a problem?
rates are poised to go up as well.

 

[MMAViewer]

3% is more than adequate if inflation is lower which it is.

However 3% is way higher than average. In the current climate 3% wage growth for the market is awesome but isolated.

I personally expect between 5 and 10%pa.

don't mean to bust in on the conversation but what if the min wage was tied to inflation?

 

[kpt018]

Tax cut balances itself out.

Tax cut = more money in people's pocket = more spending = higher wages/jobs = more income = more tax.

Economics 101

Wow, that's a perfect post to illustrate why people who actually know what the fuck they're talking about study this stuff past econ 101.

 

[HIMBOB]

Isn't the higher rate (nominally the highest in the world) one of the main precursors to all the companies obtaining loopholes, stashing revenues offshore, etc...

I understand what you mean in that they aren't removing the loopholes and things yet (and probably won't), but this COULD be a good step towards actually ensuring that corps actually pay the nominal rate.

Having a say 35% rate means jack and shit if the largest revenue earners only pay 5

Also the person you responded to was referring to people FAVORING corporate tax exemptions and loopholes, which is literally not a single person I've ever met or encountered IRL or on this site

Im a person who favours corporate tax exemptions

But when and only when they incentivise companies to do things good for the country.
Many fail that test but as a concept i support it.

 

[Rational Poster]

don't mean to bust in on the conversation but what if the min wage was tied to inflation?

I support a higher min wage, but I don't think a min wage should be something handled at the federal level.

Every region is different, so it should be up to the states and local governments to handle that. Now, a federal minimum wage for federal jobs, sure.

I think at the federal level the impetus to increase wages can be incentivized much more quickly with tax credits.

I have no problem with tax cuts if they can get some wage increases out of it, that way revenue can get made up on the other side taxing individuals and their purchases, and people will be happier because they have more money to spend on themselves.

 

[HIMBOB]

don't mean to bust in on the conversation but what if the min wage was tied to inflation?

Not tied as inflation is impossible to accurately measure thus open to distortion. But linked sure.

 

[MMAViewer]

Wow, that's a perfect post to illustrate why people who actually know what the fuck they're talking about study this stuff past econ 101.

I don't think he understands the biased nature of his link, or even the difference between stated and effective taxation

 

[HunterSdVa29]

Im a person who favours corporate tax exemptions

But when and only when they incentivise companies to do things good for the country.
Many fail that test but as a concept i support it.

given your spelling, I assume you're Canadian/british/aussy so it's probably not the same level of corporate involvement in campaign finance and such, so that's probably a much more normal stance to take

It's just more that in the US, if a person criticizes ANY aspect of the Social Welfare safety net, liberals immediately respond w/ 'so you favor corporate welfare?' or something along the lines as if that was even being discussed or had any relevance whatsoever (it doesn't). Corp welfare in the US, unlike say Ireland, tends to only benefit certain people w/in the corporation and it's financial stakeholders, not generally the consumers or employees as a whole

 

[HIMBOB]

Tax cut balances itself out.

Tax cut = more money in people's pocket = more spending = higher wages/jobs = more income = more tax.

Economics 101

Very true in a global sense.

Not true when people can and do invest across Borders.