WSJ: The Economy Is Absolutely Roaring - At Least For Now

[SP33Demon]

More than that, Libs are willing to extend that to the national level to maintain education & services in less prosperous regions. It's not just about my school district & my hospital but about all of us together.

While I agree in general, I will only pay more up to a certain degree. For example, I pay a few more % in taxes in my current state vs the few surrounding ones but only because housing is 1/3 more affordable (own vs rent = no brainer) and in certain areas (like mine), better school systems than even the expensive-ass housing areas. If the state was 8-10% more in taxes, I'd have to seriously crunch the numbers to see if it was worth it. 1-5% more doesn't bother me.

One way more rural areas have accomplished better public school systems is simply via student to teacher ratio. In more expensive, more populated areas it's usually in the 20:1 to 30:1 (in my region) which is a good indicator that you need to bounce to a lesser populated area if you want better school quality. I think my elementary school is in the 15-17:1 and it's getting much higher ratings. This obviously isn't always going to apply but it's a metric that I've noticed applies to my area. I also look at Free student lunches %, if it's around 20% that usually won't impact the school's rating but 25% and over is when the rating may take a hit in my area.

 

[fskimospy]

You have no idea how the $10k SALT cap works if you think a bigger property won't = more taxes paid since you can't deduct them anymore. Bigger property usually = bigger property taxes which are magnified in the blue states. So tell us how the 10k SALT cap works since you "know these things". Why do you think blue states are now trying to skirt the 10k cap by offering any taxes >10k cap to be paid as a charitable donation? This will inevitably be shot down by the courts, but nice try Blue States. You're going to pay more and you're going to like it.

Blue states are also going to have to cut your tax rates in line with the Red States or continue to get bent over with no Vaseline. To reiterate my OP, better write your congressman if you don't like getting bent over by the SALT cap. This will now sow the seeds of discord in Blue States, it was a genius plan. Pure genius by Trump. The cool thing is that Blue Staters can opt to move to a more affordable state if they want. I live in a red county in a blue state but am planning to move to a red state very shortly where property taxes are dirt fucking cheap with great weather and family recreation. Blue states just fucking suck since they already weren't affordable to comfortably live before the tax cut's new rules. NJ/NY/IL/CA are all great examples, and this new tax bill is just SALT (pun intended) in the wound and makes it even more expensive. F that.

You appear to have severe reading comprehension issues, haha. The standard deduction for a household is $24,000 now. The only way you hit that is by having a really big house. (Or very high income) Wiping put SALT only affects the rich and I’m fine with that as it was a regressive tax break anyway. So anyways, thanks! The tax law was insanely incompetently written but even a blind squirrel finds a nut now and then.

As for blue stated ‘sucking’ most of the most economically successful states are blue. Looks like conservatives could stand to learn something from them, no? There’s a reason why so many red states are propped up by revenues from blue states, conservative states just aren’t economically competitive enough to make it on their own without help from liberals.

 

[SP33Demon]

You appear to have severe reading comprehension issues, haha. The standard deduction for a household is $24,000 now. The only way you hit that is by having a really big house. (Or very high income) Wiping put SALT only affects the rich and I’m fine with that as it was a regressive tax break anyway. So anyways, thanks! The tax law was insanely incompetently written but even a blind squirrel finds a nut now and then.

As for blue stated ‘sucking’ most of the most economically successful states are blue. Looks like conservatives could stand to learn something from them, no? There’s a reason why so many red states are propped up by revenues from blue states, conservative states just aren’t economically competitive enough to make it on their own without help from liberals.

Well aware of the standard deduction. Question: if people have a "really big house", are they likely to have a large income as well? lol bro

You really think it will "affect the rich" negatively? Think again. Turns out rich Blue Staters are greedy fucks too, and will even practice tax evasion to try and prevent paying more. See the bolded below:

States say they are merely restoring what Congress took from them. But some of the states would go beyond that, giving their residents breaks unavailable in other states. What’s more, even as Democrats lambaste the new tax law as a giveaway to the rich, their workarounds would disproportionately benefit the well-to-do because they tend to have the most state and local taxes to deduct. New York, Connecticut and New Jersey have adopted proposals to allow taxpayers, to varying degrees, to evade the SALT cap by recharacterizing their state and local tax payments as charitable contributions. Similar proposals are pending in other blue states, such as California and Illinois.

https://www.politico.com/story/2018/06/10/blue-states-gop-tax-law-634991

So turns out your Blue State buddies don't want to pay more taxes and their high powered state politician buddies are making imaginary rules up to not only evade federal taxes, but ensure that the "well-to-do" i.e. rich are disproportionately benefiting from these imaginary rules. In the end, it will just add to more pain for people who try to use these imaginary rules to commit tax evasion:

The IRS warning may be enough to deter some people, said Daniel Rosen, a former IRS lawyer and now a partner at the law firm Baker McKenzie.

“Many who would otherwise avail themselves of these regimes will be scared off, which I think was the intent behind issuing the [IRS] notice — to dissuade taxpayers in states like New York from taking advantage of the regimes, and to dissuade other states from following suit,” he said.

Taxpayers could not only end up paying more in state taxes than they owed, but could also end up in a fight with the IRS and subject to penalties if the deduction is not allowed.

Said Rosen: “There’s a cost to taxpayers for doing this.”

 

[fskimospy]

Well aware of the standard deduction. Question: if people have a "really big house", are they likely to have a large income as well? lol bro

You really think it will "affect the rich" negatively? Think again. Turns out rich Blue Staters are greedy fucks too, and will even practice tax evasion to try and prevent paying more. See the bolded below:

https://www.politico.com/story/2018/06/10/blue-states-gop-tax-law-634991

So turns out your Blue State buddies don't want to pay more taxes and their high powered state politician buddies are making imaginary rules up to not only evade federal taxes, but ensure that the "well-to-do" i.e. rich are disproportionately benefiting from these imaginary rules. In the end, it will just add to more pain for people who try to use these imaginary rules to commit tax evasion:

Okay I take you at your word that capping SALT won’t affect the rich negatively. It obviously won’t affect the middle class or poor due to the increased standard deduction so, well, then it doesn’t do anything at all.

You did not think this through, hahaha.

 

[K1052]

I don't get it, the US has a GDP that hasn't been seen in decades and unemployment across all demographics is at almost all time lows. Please explain how tariffs are going to push us into a recession or worse?

Largely depends on your view of where the economy is at this point in it's cycle. If you think that we're not at/near the top of the cycle then probably not a big drag unless things get crazy. If you think that we are then a significant disruption, like huge sector wide tariffs (auto, aircraft, energy, industrial equipment, etc), can easily be the instability that leads us into a downturn. We're in the second longest period of economic expansion in US history and it looks like the stock markets pretty much topped out earlier this year even with huge amounts of buybacks and big dividends courtesy the tax cuts.

 

[SP33Demon]

Okay I take you at your word that capping SALT won’t affect the rich negatively. It obviously won’t affect the middle class or poor due to the increased standard deduction so, well, then it doesn’t do anything at all.

You did not think this through, hahaha.

Wrong, it will affect rich negatively once the courts kill all the Blue State SALT tax evasion imaginary "charitable donations" that they think they can do. I bet you're one of the schmucks trying to evade SALT and that the IRS will be calling soon. Enjoy your tax penalty in 2019!

 

[Indus]

Wrong, it will affect rich negatively once the courts kill all the Blue State SALT tax evasion imaginary "charitable donations" that they think they can do. I bet you're one of the schmucks trying to evade SALT and that the IRS will be calling soon. Enjoy your tax penalty in 2019!

Good. Easy solution.. NY, NJ, CT secede. Fuck you nazi fucks. It's a lot easy to be taxed with 30 million people in mind than 300 million.

 

[fskimospy]

Wrong, it will affect rich negatively once the courts kill all the Blue State SALT tax evasion imaginary "charitable donations" that they think they can do. I bet you're one of the schmucks trying to evade SALT and that the IRS will be calling soon. Enjoy your tax penalty in 2019!

Lolwut.

 

[SP33Demon]

Largely depends on your view of where the economy is at this point in it's cycle. If you think that we're not at/near the top of the cycle then probably not a big drag unless things get crazy. If you think that we are then a significant disruption, like huge sector wide tariffs (auto, aircraft, energy, industrial equipment, etc), can easily be the instability that leads us into a downturn. We're in the second longest period of economic expansion in US history and it looks like the stock markets pretty much topped out earlier this year even with huge amounts of buybacks and big dividends courtesy the tax cuts.

Tariffs are temporary and can be removed at any time, so I'm not concerned. Let's see the numbers on job openings in the next 6 months.

 

[SP33Demon]

Lolwut.

That's what I thought, you are going to evade SALT taxes using the new imaginary charitable donations put in place by your rich Blue State buddies. You'll pay your taxes eventually or go to FPMITA Prison.

 

[fskimospy]

That's what I thought, you are going to evade SALT taxes using the new imaginary charitable donations put in place by your rich Blue State buddies. You'll pay your taxes eventually or go to FPMITA Prison.

Man, you really got me pegged there, hahaha.

You realize we are all laughing at you, right?

 

[K1052]

Tariffs are temporary and can be removed at any time, so I'm not concerned. Let's see the numbers on job openings in the next 6 months.

My point was that it would be too late by the time it was realized to be a hazard and the admin reversed course.

 

[SP33Demon]

My point was that it would be too late by the time it was realized to be a hazard and the admin reversed course.

Valid point for sure. One would hope that the new jobs + unemployment numbers by sector would forewarn us of the start of the respective sectors' slides before it goes crazy. Then it's a question of whether the WH will get on the phone and sweeten the deal so both sides can win. Trump has a pattern of taking an initial hard-line stance and then softening later if the hard-line doesn't get what he wants.

 

[Indus]

Economy roaring my ass.

Never seen as many homeless people in Manhattan as right now.

Rigged #'s is more like it.

http://www.coalitionforthehomeless.org

Trump should know.. they aren't even a mile from his home but he doesn't fucking care.

 

[SP33Demon]

Economy roaring my ass.

Never seen as many homeless people in Manhattan as right now.

Rigged #'s is more like it.

http://www.coalitionforthehomeless.org

Trump should know.. they aren't even a mile from his home but he doesn't fucking care.

NY gets more tax money than just about any other state yet can't solve the homeless crisis? lol, bunch of corrupt fuckstains running your state. Sorry you have to live there, bro

 

[Indus]

NY gets more tax money than just about any other state yet can't solve the homeless crisis? lol, bunch of corrupt fuckstains running your state. Sorry you have to live there, bro

Bull shit. We're the most taxed and its given to the red states.

 

[K1052]

Economy roaring my ass.

Never seen as many homeless people in Manhattan as right now.

Rigged #'s is more like it.

http://www.coalitionforthehomeless.org

Trump should know.. they aren't even a mile from his home but he doesn't fucking care.

Housing affordability is declining nationally but for different reasons in different places, resulting in rising homelessnes. NYC can largely blame housing policies, a zoning process that's captured by condo/co-op owners, and community boards that largely listen to the loudest cranks to make decisions.

 

[FelixDeCat]

Bull shit. We're the most taxed and its given to the red states.

I thought liberals liked high taxes....or was that big spending?

You need to turn in your blue lib card if you dont want to pay a 50% tax rate to help pay for those poor illegal alien kids who snuck over the border that Trump wants to send packing - pronto!

 

[ivwshane]

Right on cue another troll shows up.

 

[Jhhnn]

Right on cue another troll shows up.

Assignment rotation at the troll factory.

 

[MomentsofSanity]

Another $200B in tariffs for China.

https://www.cnn.com/2018/07/10/politics/ustr-new-china-tariffs-trump/index.html

 

[Engineer]

I thought liberals liked high taxes....or was that big spending?

I thought you CONservatives wanted lower deficits....or was it lower spending? 'Laugher Curve'....in action.

 

[Engineer]

Another $200B in tariffs for China.

https://www.cnn.com/2018/07/10/politics/ustr-new-china-tariffs-trump/index.html

He keeps doing all of this in the name of national security.....you would think CONgress would take notice of all of this bullcrap and work toward putting a stop to it. Ah hell, who the hell am I fooling.....the CON's of the gress aren't going to do jack squat.

I wonder how much more the market is going to take of this before it finally takes a dive. Futures dropped pretty sharply 245 points shortly after this from the looks of it. Market has been going up despite this. Makes me wonder if T-Rump is playing this for the elections and will suddenly cancel them right before election time giving the market a giant rally. I think everything the man is doing right now is setting up the November elections.....everything.

 

[FelixDeCat]

He keeps doing all of this in the name of national security.....you would think CONgress would take notice of all of this bullcrap and work toward putting a stop to it. Ah hell, who the hell am I fooling.....the CON's of the gress aren't going to do jack squat.

I wonder how much more the market is going to take of this before it finally takes a dive. Futures dropped pretty sharply 245 points shortly after this from the looks of it. Market has been going up despite this. Makes me wonder if T-Rump is playing this for the elections and will suddenly cancel them right before election time giving the market a giant rally. I think everything the man is doing right now is setting up the November elections.....everything.

Good. The people of Communist China have been raping America now for many years thanks to billionaire globalists and open border types like Bronco Bama.

A $200 billion dollar tariff far exceeds Chinese imports, meaning we are going to fix their asses good this time!

Americans will have the jobs now! You people dont understand the genius of Trump. He looks 10 moves ahead and its helps this country in the long run.

 

[SNC]

https://blogs.wsj.com/economics/201...onomy-is-absolutely-roaring-at-least-for-now/



Really the only thing that matters right now is the economy. Trump made a promise and delivered to the people what they wanted which is rare in politics these days. What is more important than family and making money? Nothing IMO. Look at the shows on TV that we all love or loved. The Soprano's - family and money. Game of Thrones - families and resources. Empire, The Crown, Downton Abbey, etc. If it takes someone as polarizing as Trump to put money in our pockets (via jobs and lower tax % brackets) while helping our families (child tax credit doubled for instance), then I'm all for it. E.g. What else is more important than the self worth that comes with being able to move out of your parent's place and support yourself? On the other side of things, what parent wants their kid to live in their house forever? We've seen what it's done to Japan, and they will eventually cease to exist due their sharp negative birth rate since nobody can find a job that will support rental rates.

So you base your life goals on TV shows?