Show of HandsShow of Hands

polster2 December 27th, 2016 12:57pm

Congressional Republicans plan to overhaul the tax code, shifting the burden to the wealthy and corporations by reducing exemptions, deductions, and credits. This would not be revenue-neutral, reducing revenues $3 trillion over 10 years. Thoughts?

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Malekithe My pronouns are GFY
12/27/16 6:00 pm

Do those numbers take into consideration repatriation, economic growth and increased investment in America?

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think4yourself Not a safe space
12/27/16 7:30 pm

Of course not, why tell the whole truth when you have an agenda......

jvc1133 61535
12/27/16 12:20 pm

Idk, college economics bored me.

polster2 US
12/27/16 12:37 pm

Guess you shouldn't vote then.

jvc1133 61535
12/27/16 12:42 pm

Dispute your opinion 🖕🏻my privilege.

polster2 US
12/27/16 12:59 pm

"You slow or stupid." Nice grammar...

geoag02 Dallas, TX
12/27/16 11:23 am

Cut spending. Trump can start with that trillion he wants to spend on infrastructure.

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polster2 US
12/27/16 11:46 am

We don't need safe, high-quality infrastructure?

geoag02 Dallas, TX
12/27/16 12:40 pm

We already paid a third of that under Obama, and it is a state responsibility financed by fuel taxes anyway.

polster2 US
12/27/16 12:48 pm

So, if it's a state responsibility, then why is Trump promising a $1 trillion infrastructure plan?

think4yourself Not a safe space
12/27/16 12:48 pm

Pollster. The tax payers have paid for an excellent infrastructure already but so much money went to waste, fraud, and abuse that we didn't get it.

think4yourself Not a safe space
12/27/16 12:57 pm

More than the federal gas tax pays for infrastructure. Remember how obama had the largest "stimulus" spending in American history that he said was going to "shovel ready" projects to rebuild our infrastructure. He spent more than all other presidents combined yet we certainly didn't get the infrastructure like he promised we would.

think4yourself Not a safe space
12/27/16 6:05 pm

So you are saying obama lied when he pushed that massive spending bill through? He said it was for our infrastructure.

polster2 US
12/27/16 6:25 pm

I think Obama underestimated how long it would take those stimulus dollars to create jobs.

think4yourself Not a safe space
12/27/16 7:38 pm

He said they were going to shovel ready projects for our infrastructure so he lied on both accounts.

Mark3
12/27/16 11:03 am

Rational measurements:
# of tax dollars spent
# of tax paid employees
# of dollars forcibly taken by government

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think4yourself Not a safe space
12/27/16 11:02 am

Tax cuts have historically brought in more tax revenue because most businesses use those savings to grow their business and hence end up paying more in taxes just at a lower rate.

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think4yourself Not a safe space
12/27/16 12:46 pm

The biggest economic booms have happened after tax cuts. Even some democrats realize this. JFK had one of the largest tax cuts in American history and we had an economic boom and Clinton dramatically cut capital gains tax which spurred a boom.

polster2 US
12/27/16 12:47 pm

That doesn't mean that the tax cuts caused those booms.

think4yourself Not a safe space
12/27/16 12:53 pm

Lol. History clearly shows us that tax cuts and tax increases affect the economy. You think that it is just coincidence that economic booms happen after tax cuts and the Great Depression happened after the largest tax increase in American history?

think4yourself Not a safe space
12/27/16 6:07 pm

I was referring to income tax which affects business owners the most but since you bring up the corporate tax rate, do you realize many corporations are leaving for other countries with lower corporate tax rates?

polster2 US
12/27/16 6:13 pm

Do you realize that the effective corporate tax rate is nowhere close to 35%?

think4yourself Not a safe space
12/27/16 6:18 pm

For the politically connected corporations. Like when the ge CEO donated to obama they paid $0 in corporate taxes. Then obama puts him on his economics board. 😂😂😂. Most small corporation can't afford to buy off the obama administration.

polster2 US
12/27/16 6:22 pm

It has nothing to do with Obama. It has to do with the way the tax code is written. Most companies pay a corporate income tax rate of 7.5% or less purely by taking advantage of loopholes and dedications:

www.usnews.com/opinion/economic-intelligence/2015/11/13/reality-check-on-corporate-income-tax-rates

think4yourself Not a safe space
12/27/16 6:25 pm

And many pay the 35% which is why many corporations are leaving the country and why the republicans plan of closing loopholes and lowering the rate is a good one.

think4yourself Not a safe space
12/27/16 6:31 pm

You should try actually reading the article you present. That article was talking about ONE company, not all of them. Typical liberal tactic to use one example to try to screw everyone.

polster2 US
12/27/16 6:40 pm

No, the article says that most corporations pay a lower rate than the 7.5% rate paid by Pfizer.

think4yourself Not a safe space
12/27/16 7:27 pm

That's not what you said. "Most companies pay a corporate income tax rate of 7.5% or less".

polster2 US
12/27/16 7:31 pm

I meant to say corporations rather than companies.

Odysseus We All Need A Fantasy
12/27/16 9:49 am

To say Republicans are going to raise taxes on the wealthy is the same as saying Democrats are going to reform Social Security and Medicare. It won't happen but it definitely should.

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polster2 US
12/27/16 9:53 am

It's not even a tax increase, technically. Republicans are planning to lower rates but close loopholes and deductions.

Odysseus We All Need A Fantasy
12/27/16 10:02 am

They will definitely lower rates. They will close some loopholes and eliminate some deductions. But then the corporate tax lawyers will find new loopholes and deductions in the new tax laws. I worked in the corporate community for 45 years. That's how the game is played. Revenue will decline. Deficits will increase.

polster2 US
12/27/16 10:03 am

Only if Republicans refuse to cut spending will the deficit increase.

Odysseus We All Need A Fantasy
12/27/16 10:10 am

Trump is talking about a massive military upgrade including our nuclear arsenal. He is talking about a trillion dollar infrastructure spending bill and a huge wall across our Southern border. If we combine that with tax cuts, the deficit will explode.

polster2 US
12/27/16 10:14 am

I agree, but Congress isn't likely to fund all of that.

think4yourself Not a safe space
12/27/16 10:56 am

The economy grows under smaller tax rates so in the long run they take in more tax revenue which is why we take in tremendously more revenue now than when tax rates were as high as 90%.

polster2 US
12/27/16 11:46 am

Except we're way below the revenue-maximizing tax rate on the Laffer Curve.

bluerum29 optimistic idealist
12/27/16 7:51 am

Agree that cutting spending is the way to go

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polster2 US
12/27/16 7:20 am

I really doubt that Republicans will cut spending. They'll probably spend just as much or more and run massive deficits just to save their rich buddies a few extra bucks.

think4yourself Not a safe space
12/27/16 10:59 am

The republicans are the ones that forced spending cuts in the last 6 years, if they hadn't obama would have added trillions more to our debt.

polster2 US
12/27/16 11:44 am

Obama proposed the sequester.

think4yourself Not a safe space
12/27/16 12:43 pm

No he didn't. Obama said the sequester cuts would collapse the economy. Obama threw a fit when they were passed and sent park workers to barricade open air monuments and stopped whitehouse tours for school children.

polster2 US
12/27/16 12:47 pm

Even congressional Republicans blamed the sequester on Obama.

www.factcheck.org/2013/03/the-sequester-blame-game/

kscott516 Masks fail
12/27/16 6:35 am

Finally! A real tax code plan that works. Start by cutting out the federal Dept of Education ($70B/yr) and Obamacare. That $3T will be easy to make up with reduced spending.

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