Trump is a Winning Machine

Wages won't increase until we stop importing cheap labor.

 

What?

Where are all the republican deficit hawks???

Orrin Hatch throws a fake hissy fit:

https://www.washingtonpost.com/blog...-card-e:homepage/story&utm_term=.df207744e957

 

Part of them suddenly became democrats, you know, those guys who previously loved deficits.

But don't worry. This thing has zero chance of becomming law. We can retain our title as having one of the highest corporate tax rates in the world. Hooray!

 

I'm not paying to read WaPo.

 

I would just like to know what the hell the bill as written will actually do because there are clearly two different stories being told.

 

Relatively to here, I'm on the left end of the spectrum and I skip WaPo political section....

 

Theoretically, the House passed an extreme tax measure, the Senate can pass their whacky version, then everybody can get together and figure out a compromise.

Not that that would ever happen.

 

In the end, there has to be enough votes for the same bill in the Senate. That won't happen for a number of reasons, one being that John was said to not be a hero. The swamp has no equal.

 

I'll be amazed if they get anything done.

 

Meh...tax cuts to the poor exist only to give people with BAs in Social Work a job.

 

if anyone actually paid them. try the effective tax rate and see what you come up with. last i looked we were coming up with about 7%.

 

Well, I guess that's good news then. The corporate tax cuts only SEEM like they are going to be a boon for those guys and blow up the deficit. But since they pay very little, a reduction to that is very little. Boy are those Wall Streeters going to be pissed when they see how they run up the market for nothing....Boy are those deficit hawk democrats going to be relieved when they see that the dough keeps rolling in. Thanks for sorting that out Sweaty.

 

oh i didn't sort any of that out haha don't be mistaken. trickle down economics is a farce. tax breaks will literally create zero reinvestment, just more monetary concentration. the last time a repatriation tax holiday happened for foreign held corporate funds, all it did was allow for stock and quarterly earnings manipulation at the top, and added zero benefit to the economy. this tax plan also HAS to assume an unreasonable growth rate in GDP (in my opinion), which in all likelihood will not materialize and will not make up for the deficit they're going to create. more so though i have a problem with the individual tax benefit to the top, the estate tax, the elimination of deductions that most middle income families use... this is really not even a GOOD attempt at pretending to do something for the masses while fleecing the coffers, of all things that's what most surprises me. its like they got lazy and aren't even trying to be sneaky any more, OR have finally realized nobody will do anything to them anyways. at least i could respect it if it had a better guise. this is just a cash grab plain and simple.

that reduction is HUGE for them. we have one of the lowest effective taxing structures in the entire industrialized world. if you think lowering from 35% to 20% and that loopholes still won't be found, you're giving lawmakers too much credit. short of nationalizing companies or tariffs/import taxes/special business taxes, i doubt much changes for large corporate bottom lines.

people need to collectively realize that 350 million people in one of the richest countries on earth, have an insane amount of buying power and influence if they just used it collectively. we let companies get away with this shit because we vote in people that are all paid up by them, or vote in people for different reasons/social reasons where some are willing to overlook this kind of behavior. if congress would collective tell large corporations to "pay X for the privilege of being in the US market or get the fuck out", i'm sure they would pick being in the market. instead though, you get things like "company X promises to move to our state and create 100 new jobs, let's give them tax exemption for the next 20 years!!!! yayyyy i'm a job creator vote for me!"

its totally ass backwards, but then self interest will do that i guess...

 

You can't get ten people on this BBS to think collectively, how in the hell would that work with 350 million people?

 

Will you be my accountant?
I must be doing it wrong. I started my company 15 years ago, just my son and I. We now employ 50 people.
We average 5 to 6 Mill in gross sales. We average around 25% to 30% net.
Just finished my annual review with my accountant to estimate tax burden for this year. Between Federal (35%) and state (6%), I will cough up 41 cents of every dollar I make.. 7% my ass!

 

That’s very high, though not unheard of. Is this a pass through entity or a C corp? I’ll bet you’re a service based business also with those numbers.

 

Don't let facts get in the way of a good rumble.

 

Dupont, GE, Amazon, etc...

You are a speck on a blip my friend...

 

But I thought small biz employed the bulk of the folks here in the good ol USA? And I thought you said effective tax rate? It's pretty f#ckin effective, no?