Ours is also:
Posted on 07/18/2020 9:34:38 AM PDT by amnestynone
Your quoted comment is not true.
“Trump’s tax cut, combined with the SALT changes, was politically disastrous. It caused a massive non-crisis-related increase in the budget deficit and tax increases for people with a bunch of tax deductions that were eliminated/reduced. It’s likely the key factor in the flip to the Democrats during 2018 mid-term election.”
1. The tax revenues were higher. The deficit was caused by higher spending.
2. The SALT State & Local Taxes Adjustment did effect people primarily who wrote off their high tax state, taxes. Why should people in Georgia, NC and Florida subsidize people living in high tax states like NY and my Maryland.
3. The Trump tax cuts in aggregate still have tax cuts to over 86% of American families. So, it is not a net loser politically. It’s a net winner politically.
4. Too much MSM disinformation deluge in here.
[The Trump tax cuts] caused a massive non-crisis-related increase in the budget deficit...
Wrong. Deficits have two sources: 1) taxes that are “too low”, or 2) spending that is “too high”. The deficits we see now are caused by excessive spending.”
But the spending is caused by wealthy elites being freed from higher taxes have little hesitancy to reduce spending since they no longer see the threat of higher taxes. In other words they are complete fools. They need to pay higher taxes! If you believe this country is being run well than give tax cuts to the people who run it. If not bleed them as they are bleeding us!
“Wall Street will just pass the tax to consumers. As all businesses do. It’ll be factored into the new price of the goods/services.”
Of course that is why business hates taxes so much becasue they do not want to pass them to consumers. (lol) The truth is it is more complicated than that. They hate taxes because they do pay them.
A popular misconception again. The top 10% of the riches people in the US paid 72% of total income tax receipts, 51% of the population pays no taxes at all. That's not fair. Also, you're confusing those who pay taxes (i.e., individuals) with those who spend it (Congress). If your thesis is that the wealthy aren't sensitive to tax rates, then you're going to have a hard time explaining why there is a mass exodus from high-tax state (e.g., CA, NY, IL, etc.) Personally, if I were setting tax policy, I would set it as a fixed (proportional) rate 17% for everyone...no deductions. That way, tax policy does not distort the allocation of resources.
Like anyone who wants to keep their job would be singing Trump’s praises.
They will just hire more lawyers and accountants to avoid those higher taxes like always. Biden would be their yes man.
Ours is also:
The real reason wall street wants biden over trump. They can count on a lack of prosecutions.
https://m.huffpost.com/us/entry/us_5963fcc6e4b005b0fdc7bacb
It used to be that democrats claimed conservatives and republicans were the party of the rich/super wealthy. The reality is that conservatives are the ones who take care of middle class and work to bring up the poor from their current levels through job creation, a better economy, better education, and working to keep good jobs here in the USA.
Democrats and liberals want to ship as many of the jobs as possible to other countries and keep the poor here on a fixed, government handout.
I call BS to this article. I know many Wall Street financial guys. NONE are for what this article claims. They are ALL, 100%, for Trump.
If there’s any real chance Biden could win - markets will crash all over the world.
In NJ there are many Republicans. Their votes are overshadowed by the inner cities & fraud.
No one I know is upset with POTUS over the tax hit due to SALT. It’s a big hit for me personally but I think it could be the saving of NJ as the anger slowly gets directed at the liberal politicians where it belongs. It is the best thing to happen to NJ in a month of Sundays when Liberal chickens come home to roost. That coupled with Gov Murphy’s disastrous COVID response means there may be hope for NJ.
Exactly. Many on Wall Street actually support Trump’s policies but only in the privacy of their homes.
[It’s a big hit for me personally but I think it could be the saving of NJ as the anger slowly gets directed at the liberal politicians where it belongs. ]
If they are in NJ they are in the process of being scared right.
My daughter moved home & quit her NYC job. She has a new job in NJ because she was afraid to remain in NYC. My son’s company (finance related) is telecommuting into 2021. They may downsize the office space and remain as mostly telecommuting from here on.
The violence near city hall, the increased crime rates, all albatrosses hanging on leftist necks. Life in NY/NJ has undergone a sea change and IMO we will not know how it has affected people’s political opinions until the vote is in. My elderly aunt in Brooklyn had some Democrat friends. She always called them out since she is an avid Trump supporter. Now her friends are agreeing with her.
Anecdotal but maybe a window on the change taking place due to the murders of the elderly in nursing homes, the arbitrary & capricious, unscientific assault on our liberty & economic health by the Democrats in charge. Let me not even start on DeBlasio who is destroying NYC single handedly.
[If they are in NJ they are in the process of being scared right.
My daughter moved home & quit her NYC job. She has a new job in NJ because she was afraid to remain in NYC. My son’s company (finance related) is telecommuting into 2021. They may downsize the office space and remain as mostly telecommuting from here on.
The violence near city hall, the increased crime rates, all albatrosses hanging on leftist necks. Life in NY/NJ has undergone a sea change and IMO we will not know how it has affected people’s political opinions until the vote is in. My elderly aunt in Brooklyn had some Democrat friends. She always called them out since she is an avid Trump supporter. Now her friends are agreeing with her.
Anecdotal but maybe a window on the change taking place due to the murders of the elderly in nursing homes, the arbitrary & capricious, unscientific assault on our liberty & economic health by the Democrats in charge. Let me not even start on DeBlasio who is destroying NYC single handedly.]
* I blamed 9/11 on Clinton bombing empty tents instead of killing bin Laden in a mosque when he had the chance. Before that, I was a right-wing Democrat along the lines of Georgia’s late Zell Miller, who left us 2 years ago.
...the Dem party is controlled elite wealthy liberal gentry snobs.
Just curious where your "clear" proof is of these assertions.
I already told you who's spending the money. And I also know that Congress spends the money on things that will get them re-elected. What you want to do is raise taxes on the wealthy so these clowns have more money to spend. That's an absurd plan. If you want to see what "high" tax rates look like, look at the rates before the Kennedy tax cuts. His cut was from 91% down to a max of 65% on the highest income earners, and look at what happened to economic growth as a result. If you want to kill the goose that lays the golden egg, put high tax rates on high income people. Study what happened in the UK when they enacted the Super Tax. You need to wake up.
So Bill Gates, one of the riches men in the world whose foundation has given billions to charity, is “clearly greedy”. You’re an idiot. I’m done talking to a fence post.
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