Even Wall Street thinks this tax bill is a loser

Discussion in 'Politics' started by The Derp, Dec 4, 2017.

  1. The Derp
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    The Derp Silver Member

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    According to Goldman Sachs, the former employer of Trump's chief economic adviser, this tax bill will only increase growth 0.3% for 2018 and 2019 before either flat-lining, or producing negative growth beginning in 2020.

    Goldman Sees U.S. Tax Cut Boosting Growth 0.3% Point in 2018-19
    The U.S. Congress will probably pass tax-cut legislation within the next two weeks, ushering in reductions that will boost economic growth by around 0.3 percentage point for next year and 2019, according to estimates by Goldman Sachs Group Inc.


    Goldman Sachs doesn't think the Republican tax bill would be a big boost to the US economy
    We note that the effect in 2020 and beyond looks minimal and could actually be slightly negative," the Goldman economists wrote.

    Even Wall Street thinks this bill sucks.
     
  2. whitehall
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    whitehall Platinum Member

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    The DOW went up 200 points today. Which Wall Street are you referring to?
     
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  3. easyt65
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    easyt65 Diamond Member

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    Obama could have prevented this by leading Democrats to pass their own Tax Reform Bill...

    ...except Democrats TAKE - they don't give back, and Obama was too busy funding terrorists around the world and illegals inside the US.
     
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  4. Thinker101
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    Thinker101 Gold Member

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    Sure, Goldman Sachs, a bunch of upstanding folks.
     
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  5. g5000
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    g5000 Diamond Member

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    Yes, this tax bill lets corporations keep their government gifts which drove up the corporate tax rate so high to begin with.

    Now they get to keep those government gifts AND have a lower tax rate, and it comes out of YOUR ass.

    Of course they like that. A lot.

    And what's another trillion and a half dollars of federal debt, amiright? It's Okay When Trump Does It!™
     
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  6. bendog
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    bendog Gold Member

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    Oh no, this bill will be very good for stocks.

    U.S. investors target 'buyback stocks' in bet on Trump tax plan

    But as you say, not so good for the economy
     
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  7. The Derp
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    The Derp Silver Member

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    The one that just said the tax plan will only amount to 0.3% more growth, while likely resulting in negative growth after 2019.
     
  8. The Derp
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    The Derp Silver Member

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    ^^Russian Active Measure^^. Stop trolling my thread, you Russian troll.
     
  9. The Derp
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    The Derp Silver Member

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    Yet to be seen is the analysis of the tax plan that shows it creates growth.

    Mnuchin promised it, then never delivered.
     
  10. The Derp
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    The Derp Silver Member

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    It'll be good for stocks...until 2019 when housing prices crash because the deductions, which are built into the price of the home, are removed. What happened the last time we had a crash of housing prices? Oh right...
     

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