Even the less dumb Cons cannot do math, you are going to compare two eras using raw figures? Heard of GDP ratios?
No, he just went all out on the whole "shovel ready" thing. Shall we point out just how many times Obama mentioned "jobs" in his 8 year tenure and talk about his bartender economy? Sure. Since I do not have the time to present anything "in depth", nor would you read it if I did, allow me to summarize. After the crash I would have let banks fail and not bailed them out. I would have let the free market handle bankruptcy. I would not have bailed out GM. The recession would have been deeper and more pronounced, and longer than it was. Probably twice as long. But at the end of it we'd have a system that was built on profit and sound money, and not central bank intervention (which is all we have now). I would have jailed people for fraud, and clawed back bonuses of big banks. I would have also responded with a flat tax which would have spurred spending at the same time from main street. I would have imposed tariffs on countries taking advantage of the US, allowed corporate profits to repatriate at no tax penalty, and put in restrictions of the use of those profits (you cannot buy back shares, for instance). I would have removed all loopholes that corporations have for taxation, and instead required all companies that want to do business in the United States to maintain a certain percentage of their employees here, no exceptions. This is just to start.
You realize this is all political theater... Kabuki bullshit. The establishment is given a huge tax cuts to corps but not to the individual tax payers. They might even be raising revenue off individuals. Why can't they just give everyone a big tax cut. There is no reason to fight inflation and keep the budget in balance with income taxes when let the FED create as much money as it pleases. as long as we continue to have no idea how many trillions of dollars the the Federal Reserve system is creating every year... why are arguing about deficits, why do we even have an income tax? We don't even track M3. Why doesn't someone speak up and tell the people this is all kabuki bullshit.
The House Bill is kabuki theatre, let’s see what the senate does though. Lowering the corporate rate is good, lowering it on the backs of the individual payers is bad. They should separate the two and pull the corporate loopholes and make that a flat 15%. Individual should stay progressive with a cut in social security tax coupled with social security tax applied to all income.
Not bad points. The Ryan republicans seem to take a lot of pride in screwing their own voters and rewarding people who hate them. No one at Trump rallies was whooping it up for tax cuts for corporations. Why would they? Those will be going to billionaire CEO's. We wanted a ban on muslim immigration, not happening, repeal of obamacare, not happening, no amnesties, not happening, and a wall, not happening, but by golly, we will get a massive tax cut for corporations.
We already covered most these points. The muslim ban is un-Constitutional. We have had a big debate about it over a year ago. Wildchild proved to be correct. Repeal of Obamacare? The plan is to move to single payer. The dems want it and the repubs want it. I don't care what they say in public, both parties want it. If it is true that Obamacare will collapse under its own weight, then that is what is intended. Create a crisis, then implement government control. Its a tried and true method in Washington No amnesty? Did you really think Trump was booting the dreamers? Too much cheap labor. Maybe someone's daughter gets raped as a result, maybe someone else's kid gets murdered. It is nothing more than collateral damage. When these illegals do commit crimes, the media will never report their immigration status anyway. The wall. I mocked this idea repeatedly. We knew it was unlikely, and there was no way Mexico was going to pay for it. Max tax cut for corps. Sure why not. The US corporate tax rate is a joke. Its time for a simpler tax code. They add all these deductions and tax breaks because they want to influence behavior. Will it happen? Fuck no. A simpler tax code removes power from Washington DC, and none of the politicians in DC want that to happen. I don't think that many people really voted FOR Trump. The may have selected Trump, but it was really a vote against Hillary Rotten Clinton. It would be nice to remove power from DC, but that ain't going to happen. Trump is a centralized control type of guy anyway.
I agree but this bill is not it. I have a friend who is a tax attorney and he told me this will be the biggest full employment act ever for tax professionals. The details have not been reported in the media but the complexity is such that it will be a nightmare.