Even Wall Street thinks this tax bill is a loser

[miketx]

According to Goldman Sachs, this tax bill will only increase growth by 0.3% for 2018-19

Oh no! Increased growth.

Oh no! Increased growth at time of growth. paid for with DEFICITS that ALREADY look disastrous.

Can ANYONE supporting these tax cuts explain to me why this is a good idea?

Looks like a good time to cut government spending.

Nope, good time to cut spending is BEFORE you fuck up already fucked up budget even further.

And here is another thing about cutting spending - IT IS CONTRACTIONARY. If we cut one trillion dollar in 2027 from government spending economy will contract by around 5% GDP and put us into recession.

And here is another thing about cutting spending - IT IS CONTRACTIONARY.

So are tax hikes. Why do you love deficits?

did you just brain fart?

Yes, reducing deficits is generally contractionary. There is no free lunch.

Given ALREADY deep fiscal hole we are in today's tax-cuts are just tomorrow's taxes plus interest, minus growth.

Thank your master black jeebus for putting us in that hole.

 

[The Derp]

Clown, I haven't made any arguments about taxes. You lie when the truth sounds better, hypocrite.

Then why are you responding to a thread about taxes?!?!?!?

So you're just trolling, then. OK, well I've reported you for that. You're welcome.

 

[Remodeling Maidiac]

So we're taking prognosticating about the financial future of the country from a member of the financial crisis of 08?

Really?

 

[AntonToo]

Oh no! Increased growth at time of growth. paid for with DEFICITS that ALREADY look disastrous.

Can ANYONE supporting these tax cuts explain to me why this is a good idea?

Looks like a good time to cut government spending.

Nope, good time to cut spending is BEFORE you fuck up already fucked up budget even further.

And here is another thing about cutting spending - IT IS CONTRACTIONARY. If we cut one trillion dollar in 2027 from government spending economy will contract by around 5% GDP and put us into recession.

And here is another thing about cutting spending - IT IS CONTRACTIONARY.

So are tax hikes. Why do you love deficits?

did you just brain fart?

Yes, reducing deficits is generally contractionary. There is no free lunch.

Given ALREADY deep fiscal hole we are in today's tax-cuts are just tomorrow's taxes plus interest, minus growth.

Thank your master black jeebus for putting us in that hole.

BLACK guy (because you just can't talk about him without a racial reference) did not put us in that hole and the biggest long term policy component of that that hole is...wait for it....TAX-CUTS.

 

[The Derp]

So we're taking prognosticating about the financial future of the country from a member of the financial crisis of 08?

Really?

Gaslighting.

This is a Russian Active Measure.

Why would Goldman Sachs lie about the growth from tax cuts that would benefit them?

 

[Remodeling Maidiac]

So we're taking prognosticating about the financial future of the country from a member of the financial crisis of 08?

Really?

Gaslighting.

This is a Russian Active Measure.

Why would Goldman Sachs lie about the growth from tax cuts that would benefit them?

You can't lie about something that hasn't happened yet. It's just an opinion. An opinion from a participant in the 08 crash.

And your Russian bullshit is supposed to mean what?

 

[The Derp]

You can't lie about something that hasn't happened yet. It's just an opinion. An opinion from a participant in the 08 crash.

That is their prediction, fair enough.

But a "participant", how? All banks were "participants", and what does the crash of '08 have to do with their estimates and projections today? Because your bank bet wrong in 2008, does that mean you just don't use a bank at all?

Seems like you're trying to disqualify Goldman Sachs just so you don't have to reconcile what they said. That's called gaslighting. It's a tactic you frequently use to avoid real debate on policy. The reason why is obvious; your policy sucks and you know it.

And your Russian bullshit is supposed to mean what?

That you buy into Russian propaganda because it confirms your shitty bias.

 

[GHook93]

Oh shit if Trump presented a cure for all forms of cancer tomorrow his critics would say what took him so long.

No they would say why is Trump trying to cause genocide of a an entire species of micro-organisms.


Sent from my iPhone using USMessageBoard.com

 

[EvilCat Breath]

Wall Street hates the tax measure so much, they are crashing the stock market.

Oh wait.

 

[The Derp]

Wall Street hates the tax measure so much, they are crashing the stock market.Oh wait.

The market was doing well in 2008, 1989, and 1929 too. Until it wasn't. This tax plan will assuredly create a housing crisis because it removes the housing deductions which are accounted for in home prices. You remove those deductions, and home prices drop. When home prices drop, we get a housing crisis. A housing crisis that will result in a recession. We know this because we just lived through it 8 years ago, when home prices dropped thanks to foreclosures. This time, Conservatives will directly cause a housing crisis and there will be no one they can even try to falsely blame for it.

 

[EvilCat Breath]

Only democrats would oppose a drop in housing prices.

 

[The Derp]

Only democrats would oppose a drop in housing prices.

A drop in housing prices is what causes a housing crisis. We know because we just went through this shit 8 years ago. Have you learned nothing?

 

[EvilCat Breath]

Only democrats would oppose a drop in housing prices.

A drop in housing prices is what causes a housing crisis. We know because we just went through this shit 8 years ago. Have you learned nothing?

What we went through 8 years ago was a housing bubble where the prices of homes went stratospheric then suddenly collapsed leaving the poor and middle class owing large mortgages on homes that were near worthless.

I could tell you why this happened but I doubt your ability to understand.

 

[The Derp]

What we went through 8 years ago was a housing bubble where the prices of homes went stratospheric then suddenly collapsed leaving the poor and middle class owing large mortgages on homes that were near worthless.

Why did they collapse? Because of foreclosures. Mass foreclosures resulted in the drop in housing prices. What you're doing with this tax reform is dropping home prices as a result of eliminating deductions.

If you can't understand that's bad for the economy, then there's no hope for you.

I could tell you why this happened but I doubt your ability to understand.

It happened because from 2004-7, the lending standards for subprime loans were "dramatically weakened". That was because the Bush Administration allowed the industry to police itself by directing its regulators to cease enforcement of lending standards.

 

[Toddsterpatriot]

That's funny, every time I get a dividend my net worth increases.
If you received a dividend, would you bury it, spend it, invest it.....send it back?

1. No one believes for a second that you, personally, get dividends on anything. This is just you pretending to be something you're not, which is something all Conservatives do, in order to support a bullshit argument with bullshit anecdotes no one believes.

The wealthy got a massive tax cut during Bush, didn't increase their spending at all. So your trickle-down beliefs are bullshit.

The wealthy got a massive tax cut during Bush, didn't increase their spending at all.

Link?

I've posted it dozens of times.

America’s Wealthy Save Tax Cuts Rather Than Spend, Moody’s Says
Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.
​

America’s Wealthy Save Tax Cuts Rather Than Spend, Moody’s Says
Timothy R. Homan
‎September‎ ‎13‎, ‎2010‎ ‎11‎:‎00‎ ‎PM‎ ‎CDT
Give the wealthiest Americans a tax cut and history suggests they will save the money rather than spend it.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.

Thanks for such a useful link!
Do you have one that actually backs up your claim?

 

[The Derp]

Thanks for such a useful link!
Do you have one that actually backs up your claim?

That link does. If you bothered to read the link, you'd know that. But you don't read.

 

[Toddsterpatriot]

Thanks for such a useful link!
Do you have one that actually backs up your claim?

That link does. If you bothered to read the link, you'd know that. But you don't read.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.

DURR

 

[TheDude]

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

Post of the day, and it's early yet.

 

[The Derp]

To continue reading this article you must be a Bloomberg Professional Service Subscriber.

Well, now we know the price of your ignorance...whatever it costs to be a Bloomberg Professional Service Subscriber.

 

[Toddsterpatriot]

To continue reading this article you must be a Bloomberg Professional Service Subscriber.

Well, now we know the price of your ignorance...whatever it costs to be a Bloomberg Professional Service Subscriber.

I'll await your link that backs up your claim.