ECONOMISTS: Democrats' 'Inflation Reduction Bill' = 'Economic Malpractice'

[Bootney Lee Farnsworth]

Trump calls on Fed to cut rates by 1% and urges more quantitative easing

In a two-part tweet, the president says more easing would make the economy "go up like a rocket."

www.cnbc.com

Why bring Trump into this?

I swear to ******* Woden you cannot keep those fuckers name out of your goddamn mouth.

 

[CrusaderFrank]

Great, I'm a CFP, so we can discuss. Have I said something you think is wrong?

If so, exactly what is that?

Yes, that adding new dollar to an economy already experiencing massive inflation will "reduce inflation" That can only happen if you have Bernie Madoff's accountant working for you

 

[Bootney Lee Farnsworth]

Great, I'm a CFP, so we can discuss. Have I said something you think is wrong?

If so, exactly what is that?

that limited government, free markets, ans federalism are partisan issues

 

[Mac1958]

Yes, that adding new dollar to an economy already experiencing massive inflation will "reduce inflation" That can only happen if you have Bernie Madoff's accountant working for you

I didn't say anything about that. My comment was on the validity of hardcore partisan economists.

Go ahead.

 

[Moonglow]

We would not have inflation had Trump and other leaders not shut down the nations over a virus.

 

[BluesLegend]

Democrats will NOT be denied their PORK even if they have to tax the poor and middle class. Is that clear now?

 

[CrusaderFrank]

I didn't say anything about that. My comment was on the validity of hardcore partisan economists.

Go ahead.

You're rejecting the bedrock principle that adding new dollars to an economy is inflationary

 

[Mac1958]

You're rejecting the bedrock principle that adding new dollars to an economy is inflationary

You need to study up. The $11 TRILLION we added to the economy didn't cause inflation until global supply chains collapsed as demand exploded.

But, sadly, you're like the economists I listed above. I expect you to blame everything on the other tribe. Any excuse will do. That's why they're worthless.

 

[Oddball]

"Raising taxes and increasing spending is "economic malpractice."

Wait a sec...Doesn't the Constitution demand that ALL taxing and spending bills originate in the HoR?

 

[BluesLegend]

Once again Dems are trying to tell us jacking up taxes with a huge tax increase won't have any negative consequences on the poor and middle class.

 

[Oddball]

In reality, opinions from economists are mixed.

Mr. Williams is with the "American Legislative Exchange Council", a group that says it is "dedicated to the principles of limited government, free markets and federalism".

In other words, he is a partisan ideologue. And whether they're from the Left or the Right, economists who are partisan ideologues are worthless. He's throwing darts for air time.

Home - American Legislative Exchange Council

American Legislative Exchange Council (ALEC). State legislators dedicated to principles of limited government, free markets, and federalism.

alec.org

​

Nobody needs an econ degree to note that gubmint estimates of the revnue gains of tax increases always fall short, while expenditures always go far over budget.

 

[kyzr]

That's the objective.
STILL doesn't make China pay for US tariffs.

You're FOS, MORON.
We tried to bring back manufacturing to America.

You idiots killed it.
AND it included tax breaks.

November 20 2014
Senate Republicans on Thursday blocked the No.1 item on the president’s congressional “to-do-list,” refusing to allow a vote on a bill that would give tax breaks for companies that “insource” jobs to the U.S. from overseas while eliminating tax deductions for companies that move jobs abroad.

The Bring Jobs Home Act would provide a 20% tax break for the costs of moving jobs back to the United States and would rescind business expense deductions available to companies that are associated with the cost of moving operations overseas.

Sure, moron.

The Trump-GOP tax law enacted in December 2017 creates clear incentives for American-based corporations to move operations and jobs abroad, including a zero percent tax rate on many profits generated offshore.

An ITEP report published after lawmakers enacted the Trump-GOP tax law explains the several ways it encourages American-based corporations to shift profits offshore and even shift real operations and jobs offshore.

1. Agreed tariffs are paid by importers, who pass the cost on to consumers, who may chose to buy cost-competitive US products instead.
2. We are still trying to bring back manufacturing, like chip manufacturing, instead of relying on China or Taiwan.
3. The democrats should have sweetened the deal with a tax cut for US corporations. It was still much cheaper to outsource even with the Bring Jobs Home Act tax cut gimmick.
4. The monster I was referring to was China, especially their military and global ambitions.

What's in the GOP's final tax plan

The final bill still leans heavily toward tax cuts for corporations and business owners. But it also expands or restores some tax benefits for individuals relative to the earlier bills passed by the House and Senate.

money.cnn.com

What incentives to move jobs abroad? It cut the Corporate tax rate from 35% to 21%. That keeps jobs in the US, duh.
There was no "zero percent tax rate on overseas profits", that's a LIE. The Law encouraged bringing back capital from overseas with a one-time low tax rate.
"In the meantime it would require companies to pay a one-time, low tax rate on their existing overseas profits -- 15.5% on cash assets and 8% on non-cash assets (e.g., equipment abroad in which profits were invested), slightly higher than the rates in the Senate- and House-passed bills."

 

[kyzr]

We would not have inflation had Trump and other leaders not shut down the nations over a virus.

We would not have had inflation or a pandemic if Fau-Chi had not funded bat virus "gain-of-function" research at the Wuhan Lab, run by a Chinese general.

 

[Moonglow]

We would not have had inflation or a pandemic if Fau-Chi had not funded bat virus "gain-of-function" research at the Wuhan Lab, run by a Chinese general.

The president controls the department's funding. You have yet to prove your allegations.

 

[Moonglow]

Nobody needs an econ degree to note that gubmint estimates of the revnue gains of tax increases always fall short, while expenditures always go far over budget.

Yet, Trump claimed he would balance the budget and eliminate the debt.

 

[Oddball]

Yet, Trump claimed he would balance the budget and eliminate the debt.

Neither the thread nor the bill in question is about Trump, asshat.

 

[kyzr]

The president controls the department's funding. You have yet to prove your allegations.

Fau-Chi funded the research at the Wuhan Lab, and even continued it illegally after the Obama admin paused it.
Fau-Chi funded it indirectly thru other research companies.
Fau-Chi had $7b of funding that he controlled with very little to no supervision.

Fauci Reportedly Relaunched NIH Gain-of-Function Research without Consulting White House | National Review

The Obama administration cut off funding for gain-of-function research in 2014 because it was too dangerous.

www.nationalreview.com

NIH Lifts Funding Pause on Gain-of-Function Research

Today, the National Institutes of Health announced that it is lifting a funding pause dating back to October 2014 on gain-of-function (GOF) experiments involving influenza, SARS, and MERS viruses.

www.nih.gov

Trump CDC Director expresses concern about gain-of-function research, recalls shuttering MD germ lab

Dr. Robert R. Redfield, the director of the Centers for Disease Control and Prevention in the final years of the Trump administration was interviewed for Fox News exclusively by medical contributor Dr. Marc Siegel.

www.foxnews.com

Trump cuts U.S. research on bat-human virus transmission over China ties

The National Institutes of Health on Friday told EcoHealth Alliance, the study’s sponsor for the past five years, that all future funding was cut.

www.politico.com

 

[Nuthin' Fancy]

1. Agreed tariffs are paid by importers, who pass the cost on to consumers, who may chose to buy cost-competitive US products instead.
2. We are still trying to bring back manufacturing, like chip manufacturing, instead of relying on China or Taiwan.

Is THAT why Trump signed his "tremendous" new trade deal with China, INCREASING trade with them by $200 billion?

3. The democrats should have sweetened the deal with a tax cut for US corporations. It was still much cheaper to outsource even with the Bring Jobs Home Act tax cut gimmick.

They did, moron.

4. The monster I was referring to was China, especially their military and global ambitions.

What's in the GOP's final tax plan

The final bill still leans heavily toward tax cuts for corporations and business owners. But it also expands or restores some tax benefits for individuals relative to the earlier bills passed by the House and Senate.

money.cnn.com

What incentives to move jobs abroad? It cut the Corporate tax rate from 35% to 21%. That keeps jobs in the US, duh.

No, it doesn't.

Even before he took the oath of office, President Donald Trump was hailed for striking a deal with Carrier — a heating and refrigerating company based in Indiana — to save "close to 1,000" jobs that were on the chopping block.

Yet nearly six months later, Carrier is only saving a fraction of those jobs.

The company filed notice Monday night that it will lay off around 630 workers starting July 20 and lasting through the end of the year, far more than the 400 workers the company said it would let go as part of the deal, a local Indiana Fox affiliate reported.

On Thursday, Carrier announced it will lay off 600 workers in Indiana and shift those jobs to Mexico.

President Trump proclaimed that massive corporate tax cuts would keep jobs here in the USA. Harley-Davidson, the iconic U.S. motorcycle manufacturer, is using $700 million of its tax-cut money to buy back its own shares while closing its Kansas City plant and moving production offshore to Thailand.

There was no "zero percent tax rate on overseas profits", that's a LIE. The Law encouraged bringing back capital from overseas with a one-time low tax rate.

Yes, there were, liar.

America's biggest companies are holding about $1.4 trillion in cash offshore to avoid paying billions in U.S. taxes, according to a new report by Oxfam America.​

Companies are supposed to pay federal taxes on their global profits, but the tax on money made overseas is only due when it's brought back to the U.S.

"In the meantime it would require companies to pay a one-time, low tax rate on their existing overseas profits -- 15.5% on cash assets and 8% on non-cash assets (e.g., equipment abroad in which profits were invested), slightly higher than the rates in the Senate- and House-passed bills."

That was TRUMP'S proposal, that never amounted to shit.

 

[BluesLegend]

Breaking: Democrats increase TAXES on the poor and middle class. Did you know one of the hardest hit industries by the Dems 15% punishment tax on corporations is the auto industry. So those taxes will be passed down to everyone purchasing a new or used car. Thanks Dems you assholes!

 

[Marener]

Breaking: Democrats increase TAXES on the poor and middle class. Did you know one of the hardest hit industries by the Dems 15% punishment tax on corporations is the auto industry. So those taxes will be passed down to everyone purchasing a new or used car. Thanks Dems you assholes!

Poor people don’t pay corporate income tax. Corporations do.