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

[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.

So your contention is that the U.S. should keep its corporate rate high so that other countries will too?

No, that is not what I am saying.

You've been on this forum long enough to know exactly what my ideas about real tax reform are.

 

[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?

No, that is not what I am saying.

You've been on this forum long enough to know exactly what my ideas about real tax reform are.

You apparently don't understand that the headline number in the report is meaningless (i.e. it's a gimmick) since it's based on nominal wages.

"would in the medium term boost average U.S. household income annually in current dollars by at least $4,000, conservatively"

Nominal wages aren't the problem, REAL wages are, it's a headline number designed to ensnare suckers.

Beyond there's nothing particularly outrageous in the underlying analysis that I can see.

P.S. I don't really pay attention to or care what your ideas on "real tax reform" are since you spend most of your time calling other people names and leaving out any cogent analysis to go along with them.

 

[Soggy in NOLA]

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?

Dude, Hillary lost, get over it.

 

[AntonToo]

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?

Dude, Hillary lost, get over it.

...seems like you are the one that can't get over Hillary and keep bringing her up without rhyme or reason.

What the fuck does Republicans and Trump exploding deficits to make it rain on wall street and corporations have to do with Hillary? NOTHING, it's on Trump and Republicans you dupes vote for.

 

[Soggy in NOLA]

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?

Dude, Hillary lost, get over it.

...seems like you are the one that can't get over Hillary and keep bringing her up without rhyme or reason.

It's you guys whining 24/7 about Trump, which is just Hillary lost. Get over it.

 

[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?

Dude, Hillary lost, get over it.

...seems like you are the one that can't get over Hillary and keep bringing her up without rhyme or reason.

What the fuck does Republicans and Trump exploding deficits to make it rain on wall street and corporations have to do with Hillary? NOTHING, it's on Trump and Republicans you dupes vote for.

where was your outrage when obummer added 10 trillion?

 

[AntonToo]

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?

Dude, Hillary lost, get over it.

...seems like you are the one that can't get over Hillary and keep bringing her up without rhyme or reason.

It's you guys whining 24/7 about Trump, which is just Hillary lost. Get over it.

Talking about deficits resulting from taxing less is....whining about Hillary?

Were you dropped on the head as a child? I don't want to be mean to you if you were.

 

[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?

Dude, Hillary lost, get over it.

Why did you come to this topic if you can't answer the question?

 

[RDD_1210]

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?

Dude, Hillary lost, get over it.

Why did you come to this topic if you can't answer the question?

Can you honestly find a single post from Soggy where he EVER added anything to the topic. Ever?

 

[pinqy]

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.

No. The chained CPI measures the average change in prices at a constant standard of living. Most price indexes do. A Laspeyres index overstates inflation by assuming no future substitutions due to relative changes in prices and a Paasche index understates inflation by assuming no past substitutions. The chained CPI averages both types using a Tornqvist index (initially, it uses a geometric means index until later expenditure data is available.

 

[otto105]

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?

Absolutely fucking not.


Who would?

 

[otto105]

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?

No, that is not what I am saying.

You've been on this forum long enough to know exactly what my ideas about real tax reform are.

You apparently don't understand that the headline number in the report is meaningless (i.e. it's a gimmick) since it's based on nominal wages.

"would in the medium term boost average U.S. household income annually in current dollars by at least $4,000, conservatively"

Nominal wages aren't the problem, REAL wages are, it's a headline number designed to ensnare suckers.

Beyond there's nothing particularly outrageous in the underlying analysis that I can see.

P.S. I don't really pay attention to or care what your ideas on "real tax reform" are since you spend most of your time calling other people names and leaving out any cogent analysis to go along with them.

This law will not boost wages.


Any attempt to state that it will has no evidence to support it.

 

[otto105]

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?

Dude, Hillary lost, get over it.

Way once again, to miss the point and be irrelevant.


Nice job

 

[otto105]

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?

Dude, Hillary lost, get over it.

...seems like you are the one that can't get over Hillary and keep bringing her up without rhyme or reason.

What the fuck does Republicans and Trump exploding deficits to make it rain on wall street and corporations have to do with Hillary? NOTHING, it's on Trump and Republicans you dupes vote for.

where was your outrage when obummer added 10 trillion?

Obama was forced to deal with an economic situation which 8 years of conservative rule created.


Deny that

 

[Natural Citizen]

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.

No. The chained CPI measures the average change in prices at a constant standard of living. Most price indexes do. A Laspeyres index overstates inflation by assuming no future substitutions due to relative changes in prices and a Paasche index understates inflation by assuming no past substitutions. The chained CPI averages both types using a Tornqvist index (initially, it uses a geometric means index until later expenditure data is available.

I know what it is. Chained CPI assumes inflation has not reduced Americans’ standard of living. For example, you can buy hamburgers when you can no longer afford steak. That full substitution ignores the fact that if individuals viewed hamburgers as a full substitute for steak they would have bought hamburgers before Fed-created inflation made steak unaffordable.

It effectively allows them to lie. It's an easy way for the politicians to increase taxes without having to actually vote for higher rates because it's a hidden, regressive, tax on the illusionary gains in income caused by inflation. And ,of course, we correctly define inflation by calling it the surplus of worthless currency and debt. The price increase is just a consequence.

 

[HereWeGoAgain]

Lets hope this is more truthful than Barry's claim that we'd save $2500 on healthcare insurance.

 

[HenryBHough]

Pardon if I typo this....

It's hard not to when laughing so strongly at liberals feigning concern about national debt.....

 

[deanrd]

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.

What if the 250 people lost 100 dollars each, how much would the 10 people need to gain to average $4000?

The most likely scenario when dealing with Republicans.

 

[Norman]

Amazing savings.

Oh the poor leftists too lazy to work don't get anything since they don't pay anything. Yeah, that does sound unfair... I mean the fact that they don't pay any taxes but get massive benefits, yet are able-bodied.

 

[g5000]

Only a willfully blind and stupid idiot buys yet another lie from Trump.