Tax cut on deck

[Fanatical Meat]

So another tax cut while the economy is strong, we will shelve that for the time being.
Appears the Presidents advisors have been push for a tax cut to stave off a decline.
Any bets the tax cut will benefit the super wealthy disportionately?
You know the people who save their money not spend it.

Place your bets now

For the record I’m okay with the China tariffs, I am not okay with the lack of a plan regarding how the President manages it.

 

[ElFenix]

headline i saw said payroll tax. i'd be fine with that assuming it's only the employee side since the payroll tax is regressive.

 

[Fanatical Meat]

headline i saw said payroll tax. i'd be fine with that assuming it's only the employee side since the payroll tax is regressive.

Yeah I saw that too but devil is in the details.
I’m trying to not cast judgement but it’s hard. Feels like I only get fucked with these cuts.

 

[K1052]

Yeah, they're floating a payroll tax cut. Grassley who heads Senate finance went basically "wut?" so this is a well baked plan for certain.

Given Trump's increasingly panicked tweets and claims about how amazing the economy is we may be in more trouble than I suspected if they're taking desperate stabs at stuff to stimulate.

 

[ivwshane]

What exactly would be the point of these tax cuts?

Is trump unhappy about how long it's taking to bankrupt this country? Maybe Putin is putting the pressure on him since he recognizes that trump's time in office and therefore his usefulness is running out.

 

[Fanatical Meat]

What exactly would be the point of these tax cuts?

Come on we both know the answer
To be the biggest & greatest tax cuts we’ve ever seen.
















Even though it will be on average $2.31 per week/per worker and you’ll end up with $100 less in federal tax returns.

 

[ch33zw1z]

Yeah I saw that too but devil is in the details.
I’m trying to not cast judgement but it’s hard. Feels like I only get fucked with these cuts.

That's call winning, meatball.

 

[Fanatical Meat]

That's call winning, meatball.

Guess the President was right......I’m tired of winning.

 

[ch33zw1z]

Guess the President was right......I’m tired of winning.

The only people not tired of winning have literal piles of cash to sit on.

 

[SlowSpyder]

I've gotten two raises in the last eight months, I take home more of the money that I earn after the last tax cut, and now perhaps another? MAGA2020.

 

[zzyzxroad]

I've gotten two raises in the last eight months, I take home more of the money that I earn after the last tax cut, and now perhaps another? MAGA2020.

You have the benefit of being highly skilled in a task many are not willing to perform. Barnyard Masturbator isn't a job title most are willing to live with so you can sort of name your price. Good for you though sport! Someone has to do it.

 

[IJTSSG]

Another federal tax cut at this time would be a mistake.

 

[SlowSpyder]

Another federal tax cut at this time would be a mistake.

Why so? Is it a deficit concern, something else?

 

[whm1974]

Why so? Is it a deficit concern, something else?

Yes it is a deficit concern.

 

[Fanatical Meat]

I've gotten two raises in the last eight months, I take home more of the money that I earn after the last tax cut, and now perhaps another? MAGA2020.

Yeah, I don’t want to comment either way. My income fluctuates far too much.

I can comment on my corporate tax analysts wife she saved about $500 but lost about $100 in the tax return due to the less aggressive tables. So yes she saved around $8 per week so we can now run epic deficits and have less money to spend on the next down turn.

Don’t get me wrong I’m all for tax cuts when stimulus is needed, I’m all for tax cuts centered on people earning less that $60k give or take. They spend most of what they earn.
I’m not for tax cuts when things are rolling along good like the last 4 years or so.

 

[Fanatical Meat]

Another federal tax cut at this time would be a mistake.

Holy shit totally unexpected from you.

Sorry I cast judgement upon you.

 

[Jhhnn]

Why so? Is it a deficit concern, something else?

Deficits only matter when there's a Democrat in the White House. When Reagan, GHWB & GWB ran huge deficits, it didn't matter at all.

 

[SlowSpyder]

Deficits only matter when there's a Democrat in the White House. When Reagan, GHWB & GWB ran huge deficits, it didn't matter at all.

Trust me, I think both sides do this, only care when it is the other side. When it is their team in office, they'll find an excuse on why it was necessary. I fully admit Trump was handled an economy that was solid, but the US continued to heat up as much of the world sputtered. To be honest, my biggest concern is how much we're paying in interest every year. Hundreds of billions of dollars at this point, that money could be used so much better. But, we spend too much on social programs, and we spend too much on military, and even when Obama spent a lot less on the military it wasn't like he had a stellar debt record over his two terms. He added quite a bit too.

 

[zzyzxroad]

Trust me, I think both sides do this, only care when it is the other side. When it is their team in office, they'll find an excuse on why it was necessary. I fully admit Trump was handled an economy that was solid, but the US continued to heat up as much of the world sputtered. To be honest, my biggest concern is how much we're paying in interest every year. Hundreds of billions of dollars at this point, that money could be used so much better. But, we spend too much on social programs, and we spend too much on military, and even when Obama spent a lot less on the military it wasn't like he had a stellar debt record over his two terms. He added quite a bit too.

It seems like you purposefully switched form budget deficit to national debt so you could bring up Obama. Another armature troll move.

You're really off your game.

 

[Jhhnn]

Trust me, I think both sides do this, only care when it is the other side. When it is their team in office, they'll find an excuse on why it was necessary. I fully admit Trump was handled an economy that was solid, but the US continued to heat up as much of the world sputtered. To be honest, my biggest concern is how much we're paying in interest every year. Hundreds of billions of dollars at this point, that money could be used so much better. But, we spend too much on social programs, and we spend too much on military, and even when Obama spent a lot less on the military it wasn't like he had a stellar debt record over his two terms. He added quite a bit too.

If we spend too much on social programs, why do we have so much poverty & so many homeless? It's not like the GOP & revered job creators have any intention of fixing that, is there? Hey, maybe if we give 'em another tax cut they'll do something...

 

[fskimospy]

Wow, they are panicking at even the first sign of trouble.

Whether or not a payroll tax is a good idea or not it seems they are putting next to no thought or planning into this. If Trump is this erratic at the first sign of economic trouble he’s going to be uncontrollably flailing if we actually go into recession.

This is why having people like Trump in charge is bad - he is thinking about exactly one thing, his re-election chances.

 

[HomerJS]

Didn't Trump tell us the last cut was for the middle class and not for the rich and corporations??

Which was it??

 

[bbhaag]

Yeah, they're floating a payroll tax cut. Grassley who heads Senate finance went basically "wut?" so this is a well baked plan for certain.

Given Trump's increasingly panicked tweets and claims about how amazing the economy is we may be in more trouble than I suspected if they're taking desperate stabs at stuff to stimulate.

Why is this a desperate stab to "stimulate stuff"? Didn't President Obama use a similar tactic in 2012?

Except in Illinois where the Democrats stepped in and raised the State tax by 2% to off set the Federal cut in payroll tax. Your from Illinois right? Do you remember that? Did Illinois Democrats ever lower that tax when the Obama payroll cut expired like they said they would or did it get extended until 2025?

 

[K1052]

Why is this a desperate stab to "stimulate stuff"? Didn't President Obama use a similar tactic in 2012?

Except in Illinois where the Democrats stepped in and raised the State tax by 2% to off set the Federal cut in payroll tax. Your from Illinois right? Do you remember that? Did Illinois Democrats ever lower that tax when the Obama payroll cut expired like they said they would or did it get extended until 2025?

He used it to stimulate an economy still in recovery from a recession. Which is when you are supposed to stimulate! It’s not like he had a ton of options on the table in 2011 given the GOP’s position.

Trump is braying about the fed which is nearing its limits for stimulus by interest rate cuts, contemplating tax half baked strategy to pump up consumer spending, and raving about how the media is making up problematic economic indications. That is desperate.

 

[ivwshane]

He used it to stimulate an economy still in recovery from a recession. Which is when you are supposed to stimulate! It’s not like he had a ton of options on the table in 2011 given the GOP’s position.

Trump is braying about the fed which is nearing its limits for stimulus by interest rate cuts, contemplating tax half baked strategy to pump up consumer spending, and raving about how the media is making up problematic economic indications. That is desperate.

You are trying to give context to someone incapable of understanding context.