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

Discussion in 'Politics' started by g5000, Dec 4, 2017.

  1. g5000
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    g5000 Diamond Member

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    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


    Do you buy this?
     
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  2. Golfing Gator
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    Golfing Gator Silver Member

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    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.
     
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  3. g5000
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    g5000 Diamond Member

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    Bear in mind Trump's
    [​IMG]

    [​IMG]


    :lol: :lol: :lol:
     
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  4. g5000
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    g5000 Diamond Member

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    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?
     
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  5. sedwin
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    sedwin Member

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    Trump also says this will hurt him which we know is a provable lie.
     
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  6. g5000
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    g5000 Diamond Member

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    No one is buying Trump's claim, eh?

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

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    It's always fun the render the Trumptards mute.
     
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  8. g5000
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    g5000 Diamond Member

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    "The President's tax cut plan".

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

    How about that!
     
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  9. NightFox
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    NightFox Wildling

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

    :popcorn:
     
  10. g5000
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    g5000 Diamond Member

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    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.
     
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