CDZ If the Tax Bill Passes

Discussion in 'Clean Debate Zone' started by william the wie, Oct 21, 2017.

  1. william the wie
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    william the wie Gold Member

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    What economic and political effects do you expect to see?
     
  2. task0778
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    task0778 Silver Member Supporting Member

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    Increasing the personal exemptions for me and the mrs would definitely cut my taxes quite a bit.

    Politically, the GOP has to do this or many of them will not get past their next repub primary. Bad enough they bitched about ObamaCare for almost 8 years and couldn't repeal and replace it, but if they can't do this either then we might see a big political shift back to the Dems in 2018 and 2020.

    I think cutting the corp and personal taxes would be a plus for the economy. People on the Left bitch about tax cuts for the rich, well guess what? No matter what you do that gooses the economy, that is going to benefit them more than anyone else cuz they're the ones with the most money invested. If business picks up they get the most out of it; but the rest of us benefit too, which is something they fail to mention.
     
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  3. TroglocratsRdumb
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    TroglocratsRdumb Silver Member

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    Democrat economic motto: Your paycheck is my paycheck
     
  4. william the wie
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    william the wie Gold Member

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    Well, if we can hit 4% GDP growth the Ds will lose a lot more offices nationwide
     
  5. alang1216
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    alang1216 Pragmatist

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    The best the middle and working class can hope for would be to break even. The rich will get the majority of the benefits. The deficit will skyrocket. Overall the economy will tank since giving money to the rich means it will get saved/invested. Had they given the major benefits to the less well off the money would be spent immediately and the economy spike upward.

    If the economy tanks the Dems will take over and the economy will recover. Once recovered the GOP will take over and the cycle will repeat.
     
  6. william the wie
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    william the wie Gold Member

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    On solely the federal level that comment about the rich is probably true but when taking away the deductions for state and local taxes are factored in I would suspect you are wrong.
     
  7. alang1216
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    alang1216 Pragmatist

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    Trump has already walked back from removing the state tax deduction. Otherwise the bill would never make it through Congress.
     
  8. sartre play
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    sartre play Gold Member

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    Wish I felt more confident, those Republicans fighting over the deficit have gone silent now that the new policy includes over one trillion dollar increase in the deficit.
    having lived in Kansas when Brownback made the state the fore runner for give the money to the top & it will help us all. then Kansas plunged to the bottom.
    no party seems to have workable solutions.
     
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  9. Toronado3800
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    Toronado3800 VIP Member

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    It might help the Republicans next election.

    It will leave me saying things like, "but the debt you used to complain about guys!"

    Hopefully we'll get enough economic growth out of it to offset the debt increase as a % of GDP.

    If interest rates go up and servicing the debt gets more expensive it may hurt Republicans next election.
     
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  10. Dekster
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    Dekster Gold Member

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    If they cap 401K's at anywhere close to the level they are considering, you will see the stock market nose dive.
     

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