CDZ If Tax Reform Passes Post Dated to 2017 Then What?

Discussion in 'Clean Debate Zone' started by william the wie, Oct 28, 2017.

  1. william the wie
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    william the wie Gold Member

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    I wonder mostly about migration rates and state defaults as with IL and CA (non-interest bearing IOUs are a form of default.)

    Moving from IL to IN is simple and highly effective. Moving to NV from CA minus insurance money from a natural disaster is highly expensive due to both the constant bubble economy of CA and the NV water shortage.

    What are some of the other migration paths that will change and what states will be forced into Chapter three first by tax changes making some out migration paths more profitable overnight.
     
  2. Toronado3800
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    Toronado3800 VIP Member

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    By post dated tax reform, you mean the "Trump" plan gets applied to tax returns from last year for individuals and businesses?
     
  3. william the wie
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    william the wie Gold Member

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    This year. Taxes have already been paid on the first three quarters
     
  4. Toronado3800
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    Toronado3800 VIP Member

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    Ah, I see. I'd think it would be a bit reactionary and somewhat underhanded to change tax laws on the current year we are in. Me to some extent, businesses, governments and especially folks who make money off having money plan investments around tax laws and I feel a few months notice is owed in fairness.

    So IMO whoever should concentrate on changing 2018 tax laws. They no doubt are right in some regards, I'll feel they are wrong in others, they will have the effect they want in some cases no doubt and hopefully not just kick the can of debt down the road. But do it for next year.
     
  5. william the wie
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    william the wie Gold Member

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    I think the amnesty rate for repatriation of funds is the key factor. The net return could be as great as four trillion in theory but more likely two. Investing that much money going into an election year could make a huge difference in Republican results in the senate in particular. Hitting 4+% growthrates even for just one quarter could end filibusters in the senate and get much of the Trump agenda passed.
     
  6. Toronado3800
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    Toronado3800 VIP Member

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    I'll counter this is not an emergency situation and we can wait to issue the cuts until next year. Do things in an organized manner and all not tweet the tax code from the toilet at 4:00 am.

    I do not disagree about the short term effects of lowing taxes and putting money back into the economy. I also don't disagree with the short term effect on elections. You bring up a very good point there.

    It DOES make me think "HYPOCRITE" for anyone who made fun of the Obama and Bush / Reagan deficits (I'm not a party member so I'll mention them both). Then I just look up who all has ever made fun of them and think of the hypocrite as less of a man.

    My way of thinking is, if I get a credit card with a $50,000 limit and can make my standard of living look a lot better than it is. If I spend it on education or something useful it just might be worth it. If I spend my $50,000 on beer a 100 inch television and brats......well, we better give the right people tax cuts.
     
  7. william the wie
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    william the wie Gold Member

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    I agree on virtually all of your points but you are ignoring that the decisions will be made by politicians up for reelection next year.
     
  8. Toronado3800
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    Toronado3800 VIP Member

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    A valid point. My lack of personal care about any one member winning re-election shows!

    Perhaps they can do another stimulus? Like the checks or not they were pretty straight forward and simple.
     
  9. william the wie
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    william the wie Gold Member

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    At the rate and direction things are going that would be a stupid political move. The endgame is to make it much more expensive for the wealthy to live where a liberal agenda is in effect. That's the whole reason for making non-real estate state and local taxes non-deductible. As funding for leftists dries up at least two states CA and IL will go into Chapter three involuntarily. rolling back the left is the goal.
     
  10. Toronado3800
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    So the Trump tax plan is not about boosting the economy, its about making rich Democrats move out of California into states like Nebraska so Hillary would have won the election?

    I can see tax breaks for public radio or hippie health clinics being pulled. Not sure if I were Republican I'd wanna move any Democrats from California.
     

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