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

[BluesLegend]

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

Are you a blithering idiot Dem? Go ahead punish TAX corporations, then suck it when they pass those taxes down to the poor and middle class. ^^^ this one fell out of the dumb tree.

 

[kyzr]

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

They did, moron.

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.

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.

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


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.

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

1. Trump, Navarro, and Lightheizer did a better job negotiating better trade deals for the US than Hunter and Joe. But Joe & Hunter got bribed to lose.

2. Yes, the GOP lowered the Corporate tax rate from 35% to 21% to keep jobs in the US.
3. Companies move overseas for many reasons, environmental restrictions, high labor costs, unions, lack of labor, high taxes, etc. Carrier & Harley made business decisions to move, so what?
4. You posted:
"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."
I posted:
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."
You posted:
"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."

My new post:
You are correct, the tax on money made overseas is only taxed when its brought back to the US, so companies keep the $1.4T offshore to avoid paying US taxes. Trump did NOT make that tax law. That has always been the case. What Trump did was lower the tax from 31% to 15.5% for one year to bring some of that $1.4T back to the US.
"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."

So your claim that Trump made "a zero percent tax rate on many profits generated offshore" is wrong. That Tax "deferment" was in effect before Trump.

 

[Marener]

Are you a blithering idiot Dem? Go ahead punish TAX corporations, then suck it when they pass those taxes down to the poor and middle class. ^^^ this one fell out of the dumb tree.

You are redefining taxes. I hear that’s a bad thing.

 

[Aldo Raine]

Democrats should propose massive tax cuts for corporations.
Republicans would vote, NO, on it because, that's the way they are.

No, actually you no better than that. Both parties would LOVE for this to happen except for Sanders and Warren.
MAGA

 

[Independent thinker]

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

"So [the Congressional Budget Office] says it disincentivizes companies for building factories, buying equipment, which would help guide us get out of recession," the South Carolina Republican continued. "There's a 16.4% tax on imported barrels of oil that are going to increase cost at the gas pump, subsidies for Obamacare go to families making $304,000 a year, which I think is ill-conceived, and the bottom line, it's not going to help inflation."


"It says it would reduce the deficit by $100 billion – we're going to spend almost a trillion dollars," the senator said. "The truth is the Obamacare subsidies go away after 3 years. Well, we all know they're not going to go away. So if they stayed in place for 10 years it would add $280 billion to the deficit. So it's a gimmick."


Again, Democrats are betting on just how stupid they think you are ... and counting on you to be powerless to stop them...

Democrats’ Inflation Reduction Act is ‘economic malpractice’: Economist

American Legislative Exchange Council economist Jonathan Williams provides professional analysis of Democrats' latest bill, the Inflation Reduction Act.

www.foxnews.com

It boggles my mind why they even called it the Inflation Reduction Act. They could have named it any number of other things. I guess they're counting on the mindless drones who support them to hear the words that it reduces inflation when it actually doesn't.

 

[BluesLegend]

You are redefining taxes. I hear that’s a bad thing.

Get lost libtard, stop trolling add something of value or piss off home.

 

[Marener]

Get lost libtard, stop trolling add something of value or piss off home.

Did you look up the definition of a tax yet?

 

[BluesLegend]

Did you look up the definition of a tax yet?

 

[Marener]

You should because you got it wrong.

 

[WEATHER53]

What we have become entrapped with is a punitive, “for your own good” commie government that breast feeds the unmotivated while pissing on the self sustaining.

 

[JGalt]

Sure, retard.

The Trump cult believes the dear leader, who doesn't understand.

August 2 2019
President Donald Trump told an Ohio audience Thursday that China is footing the bill for the massive tariffs he's slapped on foreign goods coming into the United States.

“Don’t let them tell you, the fact is — China devalues their currency, they pour money into their system. Because of that, you’re not paying for those tariffs. China’s paying for those tariffs,” the president said, hours after announcing the new set of tariffs on Chinese goods. “Until such time as there is a deal, we will be taxing the hell out of China.”

But economists say that's not how tariffs work, and that Americans are the ones footing the bill so far.

Tariffs are taxes on goods coming in to the U.S., paid by the importer. The exporter — in this scenario, China — doesn't pay a thing.

Trump and his cult are the flies.

Au contraire, fuckface. It's you shit-eatin' flies who don't get it. Look at what your policies have done in only two years:

Gasoline that rose to twice the price it was during 2018, a 9.1% inflation rate which is almost 5 times higher than it was in 2019, a recession, the average middle-class family coming up about $6,000 short of disposable income, hefty taxes coming for the middle class, and retirement accounts losing $3 trillion dollars just over the last year. The price of oil jumping up to $130 per barrel, having to beg Saudi Arabia and Venezuela for oil while draining our own strategic reserves, sporadic shortages on the store shelves, supply line disruptions, a steadily-increasing trade imbalance with China, an spiraling epidemic of violent crime and drugs, 4 million more illegals within the last two years, more COVID deaths than in 2020, a dishonorable withdrawal from Afghanistan that cost 13 American soldiers their lives, a weakened, pussified military, Iran's nuclear program having enough nuclear material to build a bomb, a revitalized Russian oil industry, China being energy and militarily dominant, a war in Europe that could even go nuclear, and China and North Korea threatening the US.

 

[WEATHER53]

Au contraire, fuckface. It's you shit-eatin' flies who don't get it. Look at what your policies have done in only two years:

Gasoline that rose to twice the price it was during 2018, a 9.1% inflation rate which is almost 5 times higher than it was in 2019, a recession, the average middle-class family coming up about $6,000 short of disposable income, hefty taxes coming for the middle class, and retirement accounts losing $3 trillion dollars just over the last year. The price of oil jumping up to $130 per barrel, having to beg Saudi Arabia and Venezuela for oil while draining our own strategic reserves, sporadic shortages on the store shelves, supply line disruptions, a steadily-increasing trade imbalance with China, an spiraling epidemic of violent crime and drugs, 4 million more illegals within the last two years, more COVID deaths than in 2020, a dishonorable withdrawal from Afghanistan that cost 13 American soldiers their lives, a weakened, pussified military, Iran's nuclear program having enough nuclear material to build a bomb, a revitalized Russian oil industry, China being energy and militarily dominant, a war in Europe that could even go nuclear, and China and North Korea threatening the US.

You will come to believe that it has been for your own good.

Feel….believe….feel….believe..

 

[JGalt]

You will come to believe that it has been for your own good.

Feel….believe….feel….believe..

Not hardly. I will more likely find more things to add to the Democrat's "List of Shame."

I said from day one that Biden and his administration will be an utter and dismal failure. And they haven't disappointed me yet.

 

[Smokin' OP]

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!

ANOTHER ................40-year-old lie.

 

[Smokin' OP]

1. Trump, Navarro, and Lightheizer did a better job negotiating better trade deals for the US than Hunter and Joe. But Joe & Hunter got bribed to lose.
View attachment 679295
2. Yes, the GOP lowered the Corporate tax rate from 35% to 21% to keep jobs in the US.
3. Companies move overseas for many reasons, environmental restrictions, high labor costs, unions, lack of labor, high taxes, etc. Carrier & Harley made business decisions to move, so what?
4. You posted:
"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."
I posted:
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."
You posted:
"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."

My new post:
You are correct, the tax on money made overseas is only taxed when its brought back to the US, so companies keep the $1.4T offshore to avoid paying US taxes. Trump did NOT make that tax law. That has always been the case. What Trump did was lower the tax from 31% to 15.5% for one year to bring some of that $1.4T back to the US.
"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."

So your claim that Trump made "a zero percent tax rate on many profits generated offshore" is wrong. That Tax "deferment" was in effect before Trump.

No shit, Trump claimed he was going to "fix" it......................he didn't.

 

[BluesLegend]

ANOTHER ................40-year-old lie.

Facts, suck it.

 

[Smokin' OP]

Facts, suck it.

You're FOS.
If companies passed 100% of taxes, insurance, equipment, leases, vehicles, office space expenses to the consumer of their services.
They wouldn't be in business, because no one would purchase their product or service.

ALL companies do, a portion of ALL expenses, but not the entire amount as far as a price hike, the way republicans portray it.

If a company raised their price accordingly, because of a $600,000 loan they got, or insurance rate increase, people would shop elsewhere.

Companies that "eat" some of their expenses are the ones that come out ahead of the game.

That loan or insurance increase they got for say 10% a month, they don't........................or shouldn't automatically raise their prices 10%.

 

[BluesLegend]

You're FOS.
If companies passed 100% of taxes, insurance, equipment, leases, vehicles, office space expenses to the consumer of their services.
They wouldn't be in business, because no one would purchase their product or service.

ALL companies do, a portion of ALL expenses, but not the entire amount as far as a price hike, the way republicans portray it.

If a company raised their price accordingly, because of a $600,000 loan they got, people would shop elsewhere.

Dumb ass the bill has been studied, the 15% minimum corporate tax will SLAM the auto industry and those taxes will be passed down to the middle class. It will also jack up the price of used vehicles. Just another example of how stupid Democrats are. But you go feel good that you somehow put the screws to evil corporations okay.

 

[Smokin' OP]

Dumb ass the bill has been studied,

Sure, by RWNJ's moron.

the 15% minimum corporate tax will SLAM the auto industry and those taxes will be passed down to the middle class.

So, vehicle prices are going to jump 15% right off the bat?
IF they do, they're going to sink their own ship.

It will also jack up the price of used vehicles. Just another example of how stupid Democrats are. But you go feel good that you somehow put the screws to evil corporations okay.

Sure beats, rewarding them with tax cuts.................for ripping people off.
THAT'S how stupid republicans are.

 

[busybee01]

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

"So [the Congressional Budget Office] says it disincentivizes companies for building factories, buying equipment, which would help guide us get out of recession," the South Carolina Republican continued. "There's a 16.4% tax on imported barrels of oil that are going to increase cost at the gas pump, subsidies for Obamacare go to families making $304,000 a year, which I think is ill-conceived, and the bottom line, it's not going to help inflation."


"It says it would reduce the deficit by $100 billion – we're going to spend almost a trillion dollars," the senator said. "The truth is the Obamacare subsidies go away after 3 years. Well, we all know they're not going to go away. So if they stayed in place for 10 years it would add $280 billion to the deficit. So it's a gimmick."


Again, Democrats are betting on just how stupid they think you are ... and counting on you to be powerless to stop them...

Democrats’ Inflation Reduction Act is ‘economic malpractice’: Economist

American Legislative Exchange Council economist Jonathan Williams provides professional analysis of Democrats' latest bill, the Inflation Reduction Act.

www.foxnews.com

I could have written that story before it came out. ALEC is a right wing, bro-business, pro-rich organization. The fact is that the rich and powerful control so much of the nation's wealth that these tax increases will not hurt them one bit. They will still have plenty of money.