The President's Tax Cut Plan Will Increase Your Income by $4,000/Year

[g5000]

The White House is claiming Trump's tax cut plan will increase average household income by $4,000 a year.

According to Trump: https://www.whitehouse.gov/sites/whitehouse.gov/files/documents/Tax Reform and Wages.pdf

Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually.

Do you buy this?

 

[Harpy Eagle]

Sure, knowing how averages work.

If you have 10 people who gain $100,000 and 250 people who gain $100 their average gain just about $4000.

That is the fun you can have with averages.

 

[g5000]

Bear in mind Trump's

 

[g5000]

Bear in mind that Trump's tax plan increases the national debt, with the knowledge that pseudocons have been howling for years about how increasing debt depresses household income and is a threat to national security.

Do you still buy that Trump's debt-exploding plan will make you richer?

 

[sedwin]

The White House is claiming Trump's tax cut plan will increase average household income by $4,000 a year.

According to Trump: https://www.whitehouse.gov/sites/whitehouse.gov/files/documents/Tax Reform and Wages.pdf

Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually.

Do you buy this?

Trump also says this will hurt him which we know is a provable lie.

 

[g5000]

No one is buying Trump's claim, eh?

I guess that's progress. Even his die-hards are catching on to his bullshit.

 

[NYcarbineer]

No one is buying Trump's claim, eh?

I guess that's progress. Even his die-hards are catching on to his bullshit.

It's always fun the render the Trumptards mute.

 

[g5000]

"The President's tax cut plan".

Look at that. Trump is taking credit for something he had nothing to do with.

How about that!

 

[NightFox]

Do you buy this?

I dunno, where did they go wrong in their underlying analysis?

 

[g5000]

Do you buy this?

I dunno, where did they go wrong in their underlying analysis?

Two things jump out at me just off the top of my head where Trump is very wrong.

First, when the US has reduced the corporate tax rate in the past, other countries lowered theirs, canceling out the domestic benefit.

Second, this tax "cut" increases the federal debt.

Here are some facts provided by the Right about what increasing the federal debt does:

High Debt Is a Real Drag

Three teams of economists have separately shown that high government debt has a negative effect on long-term economic growth. When government debt grows, private investment shrinks, lowering future growth and future wages.

Estimates across advanced economies show that debt drag reaches large and statistically significant levels as debt grows, with the worst effects occurring after debt reaches 90 percent of gross domestic product (GDP). With U.S. federal, state, and local government debt at 84 percent of GDP and rising, policymakers should begin taking debt drag into account when considering new deficit spending.



More from the Heritage Foundation: The Many Real Dangers of Soaring National Debt

Recent and projected growth in U.S. government debt poses a serious hazard to the nation. At a minimum, high levels of government debt mean substantial government resources must go toward servicing debt—to pay interest. Further, theory indicates and a growing body of research suggests a consistent relationship between high levels of government debt relative to the size of the economy and abnormally high interest rates consistent with lower levels of domestic investment.

 

[Natural Citizen]

Ha. I told yas so.

Illusionary gains in income are caused by inflation. Now, what is inflation? It's not the rising of prices. That's only a consequence. Correctly defined, inflation means the increase in the supply of money and credit. Except it isn't real money.

What the GOP tax scheme did was adopt the chained consumer price index (chained CPI). Chained CPI is the measurement of CPI that understates inflation’s effects on our standard of living by assuming inflation has not reduced Americans’ standard of living. Over time it'll push people into higher tax backets.

 

[Harpy Eagle]

Bear in mind Trump's

See as how she makes $180,000 alone she well might get the whole $4000.

 

[jc456]

Bear in mind that Trump's tax plan increases the national debt, with the knowledge that pseudocons have been howling for years about how increasing debt depresses household income and is a threat to national security.

Do you still buy that Trump's debt-exploding plan will make you richer?

what a stupid post. no one is looking at getting richer to 2000 a year. no one. what a fool you are. trolling is your lifeline.

 

[jc456]

Do you buy this?

I dunno, where did they go wrong in their underlying analysis?

Two things jump out at me just off the top of my head where Trump is very wrong.

First, when the US has reduced the corporate tax rate in the past, other countries lowered theirs, canceling out the domestic benefit.

Second, this tax "cut" increases the federal debt.

Here are some facts provided by the Right about what increasing the federal debt does:

High Debt Is a Real Drag

Three teams of economists have separately shown that high government debt has a negative effect on long-term economic growth. When government debt grows, private investment shrinks, lowering future growth and future wages.

Estimates across advanced economies show that debt drag reaches large and statistically significant levels as debt grows, with the worst effects occurring after debt reaches 90 percent of gross domestic product (GDP). With U.S. federal, state, and local government debt at 84 percent of GDP and rising, policymakers should begin taking debt drag into account when considering new deficit spending.



More from the Heritage Foundation: The Many Real Dangers of Soaring National Debt

Recent and projected growth in U.S. government debt poses a serious hazard to the nation. At a minimum, high levels of government debt mean substantial government resources must go toward servicing debt—to pay interest. Further, theory indicates and a growing body of research suggests a consistent relationship between high levels of government debt relative to the size of the economy and abnormally high interest rates consistent with lower levels of domestic investment.

what is it they use to base growth? oh yeah GDP? is it up or not. will it go up more? that drives the economy. LOL. I enjoy bat shit crazies like you.

 

[Siete]

any tax plan that adds to the deficit can't increase personal income .. when hasnt Trump been full of his own horseshit ?

 

[jc456]

any tax plan that adds to the deficit can't increase personal income .. when hasnt Trump been full of his own horseshit ?

what?

 

[AntonToo]

The White House is claiming Trump's tax cut plan will increase average household income by $4,000 a year.

According to Trump: https://www.whitehouse.gov/sites/whitehouse.gov/files/documents/Tax Reform and Wages.pdf

Reducing the statutory federal corporate tax rate from 35 to 20 percent would, the analysis below suggests, increase average household income in the United States by, very conservatively, $4,000 annually.

Do you buy this?

No it is bullshit,

1. using AVERAGE instead of MEDIAN household income is a dead giveaway of charlatanism.

2. From average perspective it is also bullshit - tax-cut volume is about 200 billion annual over decade, divide that by 120 million families and are only at about $2000 per family. So we are talking full 2x annual multiplier, which even the most right-wingiest of economic estimates do not dare assume.

 

[NightFox]

Do you buy this?

I dunno, where did they go wrong in their underlying analysis?

Two things jump out at me just off the top of my head where Trump is very wrong.

First, when the US has reduced the corporate tax rate in the past, other countries lowered theirs, canceling out the domestic benefit.

So your contention is that the U.S. should keep its corporate rate high so that other countries will too? how does that strategy improve domestic capital inflows which increase worker productivity?

Which countries lowered their corporate rates in concert with the U.S., when did that happen and what was the net impact on capital flows and worker productivity in the domestic economy?

Second, this tax "cut" increases the federal debt.

It does over the long term, how does that negate the CoEA conclusions regarding short and medium term average nominal wage increases? Does Increasing the cumulative operating deficits have a negative impact on nominal wages if the Fed is engaging in debt monetization to fund it? What's are the alternatives?

 

[Harpy Eagle]

Do you buy this?

I dunno, where did they go wrong in their underlying analysis?

Two things jump out at me just off the top of my head where Trump is very wrong.

First, when the US has reduced the corporate tax rate in the past, other countries lowered theirs, canceling out the domestic benefit.

Second, this tax "cut" increases the federal debt.

Here are some facts provided by the Right about what increasing the federal debt does:

High Debt Is a Real Drag

Three teams of economists have separately shown that high government debt has a negative effect on long-term economic growth. When government debt grows, private investment shrinks, lowering future growth and future wages.

Estimates across advanced economies show that debt drag reaches large and statistically significant levels as debt grows, with the worst effects occurring after debt reaches 90 percent of gross domestic product (GDP). With U.S. federal, state, and local government debt at 84 percent of GDP and rising, policymakers should begin taking debt drag into account when considering new deficit spending.



More from the Heritage Foundation: The Many Real Dangers of Soaring National Debt

Recent and projected growth in U.S. government debt poses a serious hazard to the nation. At a minimum, high levels of government debt mean substantial government resources must go toward servicing debt—to pay interest. Further, theory indicates and a growing body of research suggests a consistent relationship between high levels of government debt relative to the size of the economy and abnormally high interest rates consistent with lower levels of domestic investment.

what is it they use to base growth? oh yeah GDP? is it up or not. will it go up more? that drives the economy. LOL. I enjoy bat shit crazies like you.

The GDP drives the economy? Did you really just say that? Holy Fucking shit! WOW. I am at a loss for words!

 

[AntonToo]

Do you buy this?

I dunno, where did they go wrong in their underlying analysis?

Two things jump out at me just off the top of my head where Trump is very wrong.

First, when the US has reduced the corporate tax rate in the past, other countries lowered theirs, canceling out the domestic benefit.

So your contention is that the U.S. should keep its corporate rate high so that other countries will too? how does that strategy improve domestic capital inflows which increase worker productivity?

Which countries lowered their corporate rates in concert with the U.S., when did that happen and what was the net impact on capital flows and worker productivity in the domestic economy?

Second, this tax "cut" increases the federal debt.

It does over the long term, how does that negate the CoEA conclusions regarding short and medium term average nominal wage increases? Does Increasing the cumulative operating deficits have a negative impact on nominal wages if the Fed is engaging in debt monetization to fund it? What's are the alternatives?

Why is putting 1.7 trillion dollars on credit such a good idea when economy is doing fairly well and our expected deficit is headed for disaster?