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K1052

Lifer
Aug 21, 2003
36,003
9,674
136
Kudlow just said that eliminating the payroll tax will be made up for with bigger economic growth.

Like drunken moths to a flame.
 
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glenn1

Lifer
Sep 6, 2000
25,388
1,013
126
Kudlow just said that eliminating the payroll tax will be made up for with bigger economic growth.

Like drunken moths to a flame.
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
 

K1052

Lifer
Aug 21, 2003
36,003
9,674
136
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
"The tax cuts will pay for themselves" essentially when you're asked how you'd pay for it instead of the truth (debt) is the problem.
 

cytg111

Lifer
Mar 17, 2008
15,191
5,279
136
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
Id love to see the math. The equation that computes the fact that its more efficient for the markets to cut taxes than it is to get virus testing and procedures kicked into high gear yesterday. When this things hits its exponential potential? You aint got that kind of tax cuts... it will have all been for nothing.
 

vi edit

Elite Member
Super Moderator
Oct 28, 1999
61,024
4,588
126
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
Payroll cuts don't do shit for people that are laid off, out sick with no PTO, or unable to work due to travel restrictions or conditions caused by this event.
 

Jhhnn

No Lifer
Nov 11, 1999
61,662
13,746
136
Payroll cuts don't do shit for people that are laid off, out sick with no PTO, or unable to work due to travel restrictions or conditions caused by this event.
It's a flimflam to soothe jittery investors. If we want to blunt the economic effects, we'll need some very non-Republican methods, like a strong increase in food stamp & EITC benefits, greater eligibility for medicaid & disability, mandatory paid sick leave, even temporary rent subsidies for some. But that would be Free Shit for the little people instead of Free Shit tax cuts for the Wealthy. Can't have that. It's gotta be the imaginary benefits of trickle down all the way.
 

UNCjigga

Lifer
Dec 12, 2000
22,803
5,146
136
Kudlow just said that eliminating the payroll tax will be made up for with bigger economic growth.

Like drunken moths to a flame.
I was listening to him speak in the car and almost ran off the road because I was laughing so hard! Maga trickle down growth is going to save us from blowing a moon-sized crater in the deficit!!!! Just like it did in 2018!!!!
 

K1052

Lifer
Aug 21, 2003
36,003
9,674
136
The conversations I'm having at work these days indicate a situation somewhere between the 08/09 crisis and the aftermath of a limited nuclear attack.

Absent some huge break the real economy is poised to hurtle into the abyss.
 
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NWRMidnight

Senior member
Jun 18, 2001
886
518
136
He's going to blame the Democrats if the market keeps dropping and they don't pass the stimulus or takes too long. He's going to take credit if they pass the stimulus and the market goes up. In his small mind, he wins either way and Democrats and the Fed takes the blame for any failure. All he cares about is himself and his reelection.
The problem is, the Democrats nailed it with their reasoning not to agree with pay roll tax cuts. Which basically was: how can pay roll tax cuts help those that have had their hours cut, lost their jobs already., or can't work because they are quarantined/sick. If you are not working, or not working your normal full time hours, the payroll tax cut does nothing. Not to mention that the payroll tax cuts they are referring to are Social Security and Medicare from articles I am reading. Which he would try to keep those cuts forever , as he has been trying to cut those as it is.
 
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Jan 25, 2011
16,084
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The conversations I'm having at work these days indicate a situation somewhere between the 08/09 crisis and the aftermath of a limited nuclear attack.

Absent some huge break the real economy is poised to hurtle into the abyss.
At the moment I have a hard time agreeing. Fundamentally things aren’t bad. The big driver in 08 was the credit markets drying up and for now there’s no sign of that but it’s worth keeping an eye on. I’d hold off on panic selling for now.
 

K1052

Lifer
Aug 21, 2003
36,003
9,674
136
At the moment I have a hard time agreeing. Fundamentally things aren’t bad. The big driver in 08 was the credit markets drying up and for now there’s no sign of that but it’s worth keeping an eye on. I’d hold off on panic selling for now.
I'm not advocating any particular action. A really large slice of the economy (travel, hospitality, restaurants, entertainment, etc and related/derived jobs like suppliers/equipment/service) is about to get bombed though, this much seems inescapable. Hours cuts, layoffs, the more leveraged companies going chapter 11 will be the opening movements of this piece.
 

ultimatebob

Lifer
Jul 1, 2001
23,403
1,379
126
In case there is any doubt that Trump views this as a political crisis (for him) not a health crisis:

Yeah... kinda feels like Trump is trying to buy your vote with a temporary tax cut, doesn't it?

What's sad is that a payroll tax cut isn't going to really help the folks who temporarily lose their hourly wages because they get sick or quarantined for a few weeks. That would require government mandated sick leave, which sounds too much like socialism for the Trump administration to get behind.
 

Bitek

Diamond Member
Aug 2, 2001
9,185
3,201
136
Fine, stop taking more of my money.
Still not voting for your potato plump ass.
 

Jhhnn

No Lifer
Nov 11, 1999
61,662
13,746
136
The conversations I'm having at work these days indicate a situation somewhere between the 08/09 crisis and the aftermath of a limited nuclear attack.

Absent some huge break the real economy is poised to hurtle into the abyss.
Plus dead people as a bonus. Maybe lots of dead people.
 

hal2kilo

Lifer
Feb 24, 2009
16,456
4,376
136
Not trying to be a stickler but you seem to have accidentally forgot to also credit his fiscal conservative friends in Congress. He barks, they listen but still deserve credit where it is due.
Congress has nothing to do with bullying the FED into lowering rates.
 
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Vic

Elite Member
Jun 12, 2001
47,859
8,185
126
I figured the left would cheer the temporary reduction of an extremely regressive tax. I was wrong.
No, just being dishonest with yourself. That tax funds the Social Security benefits that tens of millions of American depend on, and that 'temporary reduction' is nothing more than a political ploy in an election year.

If you think about it, the people who expect and benefit from government, but are unwilling to pay for it, are bigger socialists than those who are willing to pay for it.
 
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Jhhnn

No Lifer
Nov 11, 1999
61,662
13,746
136
No, just being dishonest with yourself. That tax funds the Social Security benefits that tens of millions of American depend on, and that 'temporary reduction' is nothing more than a political ploy in an election year.

If you think about it, the people who expect and benefit from government, but are unwilling to pay for it, are bigger socialists than those who are willing to pay for it.
Silly Libtard. Taxes are theft in free market Libertopia.
 

K1052

Lifer
Aug 21, 2003
36,003
9,674
136
Grassley essentially has killed the payroll tax cut idea. Mitch hanging back.

Democrats in the House poised to pass their own package of relief (sick leave, expanded unemployment insurance, food security, etc) this week.
 

[DHT]Osiris

Diamond Member
Dec 15, 2015
8,182
4,074
146
Grassley essentially has killed the payroll tax cut idea. Mitch hanging back.

Democrats in the House poised to pass their own package of relief (sick leave, expanded unemployment insurance, food security, etc) this week.
Can't wait to hear that Mitch is stalling it because why the fuck not. I'm sure Trump will then EO raiding the SS piggybank for something asinine, like another bailout for airlines or some dumb shit.
 

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