Unless I'm mistaken, unless one has a lot of kids, the standard deduction is increasing more than most of those.
CNBC Survey: Economic Optimism soars under Trump
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The child tax credit is something that is totally separate from the Itemized/Standard Deductions. So under the new law, someone could just take the now doubled Standard Deduction, and then claim the now doubled child tax credits.
And With it now at $2,000/child, and refundable, it means that lower income families will actually start getting checks written for if/when their child tax credit value exceeds their tax liability. In that past that was nonrefundable to them.
It's a huge boost to lower income families with kids.
Fake news. Frankenstein is coming to kill the low and middle classes now.
New home sales rose to a 10 year high this month.
America can't get enough of the Trump economy optimistic outlook
America can't get enough of the Trump economy optimistic outlook
For now ...
The question is, when will that end?
I think Trump got a 2-3 year extension of it with the tax cut ... unless countries stop loaning us money.
Neighbor's Mom is in town for Christmas and she is a Realtor in Michigan and she just said sales are hotter than ever up there..which during the winter months never happens up there.
It's amazing what companies do when they have certainty. Uncertainty has kept them hording cash and staying off-shore.
Democrats are truly upset that all of these companies are paying bigger bonuses due to the tax bill.
I had a friend who posted this on his Facebook page yesterday. Just a bit over the top:
“F*ck @ATT @Boeing @comcast @FifthThird and @WellsFargo for helping perpetuate the myth of trickle-down economics. These 5 companies could have given out these bonuses long before the passing of this horrendous GOP tax bill. It’s just politically convenient to do so now.”
“F*ck @ATT @Boeing @comcast @FifthThird and @WellsFargo for helping perpetuate the myth of trickle-down economics. These 5 companies could have given out these bonuses long before the passing of this horrendous GOP tax bill. It’s just politically convenient to do so now.”
Either he's trolling, or he honestly makes me laugh if he really thinks that.
200,000 employees @ $1,000/employee = $200 Million
I spent a good decade help build a very American Liberal-minded (which is closer to Libertarian than Progressive) corporation, with a lot of new age '[American] Progressives' in it.
The latter sh-- a brick when our Liberal-minded Executives regularly came out and argued for lower corporate taxes. They literally couldn't wrap their fingers around it, although some of our foreign employees (half the company is overseas, it's a global company), did regularly point out they have much lower corporate taxes in their countries (although most were shocked to first find out).
Of course these same [American] 'Progressive' employees didn't understand why someone needed more than $600,000 to retire in 25 years, and felt anyone with more than that in their IRA should get extra taxes on it (when they've already paid taxes, and will pay taxes on non-Roth IRA when they withdraw). They literally have no comprehension of anything. At least they finally undermined themselves on that one.
Of course these same [American] 'Progressive' employees didn't understand why someone needed more than $600,000 to retire in 25 years, and felt anyone with more than that in their IRA should get extra taxes on it (when they've already paid taxes, and will pay taxes on non-Roth IRA when they withdraw). They literally have no comprehension of anything. At least they finally undermined themselves on that one.
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He's not trolling. I've known him for years--he's a NY Democrat who lives in the Village.
Economy growing at 3+percent, Uneployment down, wages starting to tick up, Hiring up, Best economy in 10 years. Thanks Mr. Prez.
Actually the rate of jobs increase/month has gone down this year compared to last year.
If you only look at 2016Q4 v. 2017Q1-Q3, of course. We'll see once 2017Q4 comes in, because of the holidays and short-term hiring.
The recovery has been in effect for 7 years. If you were an Obama supporter, you were optimistic 3-4 years ago. If you were a Trump supporter, you are joining the optimistic train this year.
If you're a Libertarian, you're looking at the overwhelming case that American who understand we've bypassed our ability to pay off our debt years ago, and we're not doing very well on the "interest-only plan" -- especially if interest rates keep going up.
But I thought you responded to me about jobs? Or did you just change the subject for a reason?
If you're a Libertarian, you're looking at the overwhelming case that American who understand we've bypassed our ability to pay off our debt years ago, and we're not doing very well on the "interest-only plan" -- especially if interest rates keep going up.
But I thought you responded to me about jobs? Or did you just change the subject for a reason?
I didn't change the subject, the average number of jobs/month is less than it was last year.
Nobody cares about the debt. We are the reserve currency, so it doesn't matter. You should be more concerned with cryptocurrency as we don't control that.
I'm a traditional, regular Republican and the hijacking of the party by a Democrat clown disgusts me.
What months?
Also, you do understand that the holiday retail numbers (which are not out for 2018 yet) will be down, and have been steadily going down, the last few years as the Boomers and most of Gen-X have gone on-line. We also have the Boomers leaving the workforce, along with other full-time draw-downs. The rates remain similarly for the same trends of the last few years.
Now if you want to talk employment, removing retail and seasonal, we can talk.
Ha!
Average number of jobs added per month in 2016
Vs
Average number of jobs per month added from February to November.
Ummm ... you do realize December is usually when the most 'jobs' are added, mainly because it's a retail ramp-up to Christmas, right? How 'jobs' are defined also varies greatly.
That said, that number has been going down for December every year, because of the shift from retail to on-line over the last few years.
Lastly, the number of jobs added at the change of an administration is traditionally down that first year ... especially if an administration is taking over during a recession, or a recession is hitting that administration's first quarter (as it had been negative the last quarters of the previous -- e.g., Clinton-to-W.).
As always, a lot of this is based on the definition of 'job,' in addition to the 'credit' assigned. People are crediting Obama for the jobs added in Trump's Q1, all while they ignored Clinton for the jobs lost during W.'s Q1.
There's some issues with this logic. First, the US has been the banking center of the world for less than 100 years (shifted from London to New York during WWII). There's nothing written in stone that says it will remain that way in perpetuity. In fact, London has already passed New York in some measures and others are gaining (Hong Kong and Shanghai in particular). Couple this with the neutral to negative Credit Rating outlook and it's not an impossibility for US Credit Ratings to continue to deteriorate and other countries to enter the fray.
Regarding Cryptocurrencies, central banks are not going to have issues with them. Cryptocurrencies will face the same issues that gold backed currencies did during economic downturns. When the economy dips and people start hoarding, you run into a supply problem which leads to deflation. If you fall into a deflationary spiral, the economy is sunk and economic downturns become worse. You can also run into this supply problem with large defaults (credit is currency too), just like the housing crisis.
