World Leaders laughing at Trump.
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Sorry, but I call BS on that. Ergo ...
European nations are grossly selfish. Ever read up on what they say about each other?
I laugh when the US media talks about Trump 'insulting' various nations, like Germany. Guess what? They do that in Europe itself! Why? Because what Trump said was truth! He's just open about it ... like France is about Germany, Britain about Greece, etc...
Reality TV star. That's why I did not vote for him. But he's not wrong, far from it. He had advisors telling him what reality is, and he repeated a lot of it. Just like Bannon was dead on about North Korea too.
The sad thing is that Trump says more truth than the US media, and that's just reality. He's completely un-Presidential, but not wrong. The US media has an agenda that really gets to a lot of people ... people like me who knew better than to vote for Trump ... or Clinton for that matter.
Automation is a bit of a misnomer. Any investment in equipment that helps to maximize production is a form of automation in your scenario. Those investments are depreciable assets that keep a companies tax burden down, but when the company either sells or liquidates then the tax burden comes due. The only thing those investments do is to defer the tax burden to a later date, but its gonna happen eventually.
Please don't get me wrong, I'm just talking about how our tax code doesnt actually keep people from paying, it just facilitates a deferment on those taxes. People love to villianize corporations for not paying any taxes but in reality they are just gaming the system so they can wait as long as possible before it comes due.
But 100% factual. Seriously, corporate taxes were near 10% of overall taxes in the US, when they are 5% in Europe, and even lower in emerging markets.
Raising corporate taxes doesn't make a dent in the revenue stream, yet hurts investment in this country. The new tax code penalizes corporations where they don't share, and rewards those that do. GE hates life right now, so does Dell, but Amazon and others that share their wealth with their employees are loving it. That's how it should be. Same with foreign cash hording and investments, the new tax code finally starts to address that.
The only thing I don't like about Trump is negative interest rates. That's the end, we don't want to do that. Banks are already lining up to fight that. It's bad for the economy.
Everyone needs to stop demonizing corporations. All we doing is creating more special interest, not less. And people like Sanders and Warren are advocating taxing even more of the middle class, because there's just not enough from 'the rich' to seize. That means taxing those who don't have much investment, taking away even more savings.
If and when total taxation returns to not only over 100% income, but (non-inheritance/non-gift) wealth, we're going to see a mass exodus ... just like in Greece, Italy and Spain. I don't think people realize that.
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This is a loser approach to all issues.
We can't eliminate greed and poverty so no need to make changes to limit it?
Also, can eliminate cancer risk so smoke up. Can't get rid of every bug that gets into my house so might as well leave the food out. Can't get rid of all robbery risk so what's the point of locking your doors.
We have to retool the economy at some point and we're all going to get called socialists when we do to whatever, might as well be now.
So socialism will take away the greed that comes with human nature?
This is why any clear thinking person rejects socialism. Give a person or people more power and they will take advantage of it for personal enrichment.
BOOM!
People screaming 'Change!' and saying it should be government.
I want change ... I want Trump out, I want many things ... but the left is asking for totalitarian authority I fear far more.
No, its not socialism. Its just that no matter what changes get made it will be called socialism. You can't avoid getting incorrectly labeled a socialist so democrats need to stop worrying about it.
You can limit the effectiveness of individuals to amass ridiculous amounts of wealth. That's the point. I don't blame the companies that are playing by the rules, I blame the rules.
Name one successful capitalist country on the face of this earth that isn't the United States... Take some time and really think about it.
You know what you'll find? Every successful capitalist country that comes to mind does shit that you call socialism.
You guys think everything is socialism to the point that you can't even name one single country that meets your criteria for capitalism.
You know what you'll find? Every successful capitalist country that comes to mind does shit that you call socialism.
You guys think everything is socialism to the point that you can't even name one single country that meets your criteria for capitalism.
3 of the 10 happiest countries in the world are "socialist".
Switzerland. They are far more market-based on everything from their environment to healthcare.
We in the US have become a special interest nightmare where the government controls instead of regulating, causing all sorts of issues.
You don't understand socialism, that's the problem.
I want us to consider more Switzerland-like solutions, instead of UK ones ... because we are totally on the UK path.
Name another country over the last 200 years that comes close to being as successful and powerful as the US which hasn't collapsed under the weight of socialism.
You'll point to Sweden as an example of the success of socialism, I'll point to Costa Rica as an example of the success of capitalism. Neither one of them really means much in the grand scheme of things. Capitalism has existed in general in the US for 250 years and we are the most powerful and influential country in the world. Socialism started in russia in the 1910s and lasted 70 years before collapse. It started in the 1930s in China and now has concentration camps where people are subject to organ harvesting and is barely holding on to control
How so? Who has the most to lose? Can't the utopian Europe defend itself? Couldn't we form a better treaty that is more inclusive to all nations?
How can Costa Rica be a capitalist success story when they have that damn dirty socialism health care system?
Yea, except that's not happening. Tax revenue is down DRAMATICALLY across the board. Dividends aren't up, salaries are staying roughly the same, but companies are buying back stock (didn't you just say that the investors are paying the taxes??) at an exponential rate, and execs are getting fat bonuses.
The tax act was a ****ing sham, and too many people have bought in. Can't wait till 2025 when all the personal protections/deducitons go out the window and we all owe ~20% more in taxes a year and companies still won't be paying shit.
The key is to not tax the uber wealthy higher. In my opinion a billionaire should be able to earn a 4% return on their billion dollars and pay very low taxes on the 40 million that they “earn” in the year. The 40 million that is more than 10 times what the average joe will make in a lifetime. The top 1% have the majority of wealth in the country. I can’t wait until it is the top 1/100th of 1%.
Isn't that Trumps entire platform?
Conservatives sure know how to protect their issues.
If the company buys back stock, an individual will realize gains and be taxed on that. When the corporation sells the stocks back, they will realize a gain and either pay tax on it, pay a dividend which is taxable, or defer it by making depreciable capital purchases.
...but those things clearly are not offsetting the drop in corporate taxes. I buy stock weekly through my 401k, but the government won't see a dime of those taxes for 30+ years. Hell, the stuff I buy in my Roth won't ever be taxed (in theory, I'm sure that will change).
You're trying to explain this away because it fits your narrative, but it's factually incorrect. Our tax revenue is decreasing disproportionately, and it's going to bite us in the ass. Trump's tax plan has been a dismal failure.
It's funny how only Democrats have managed to run a balanced budget in the last two decades and we have Trump running a trillion dollars anyway deficit... But somehow Democrats are the "socialists"
It’s almost like slower economic growth combined with taxing that growth at a lower rate and increasing spending isn’t conducive to a balanced budget.
You can bet your ass the next time there's a democrat sitting in the white house the "party of fiscal responsibility" will be fire up the chorus to scream about spending again.
Can you post your source for the dramatic reduction? When I look at the treasury site, I see “Governmental receipts totaled $3,462 billion in FY 2019. This was $133 billion higher than in FY 2018, an increase of 4.0 percent, above expectations from the Budget, but $10 billion below the MSR estimate. As a percentage of GDP, receipts equaled 16.3 percent, 0.1 percentage point lower than in FY 2018 and 1.1 percentage points below the average over the last 40 years. The nominal increase in receipts for FY 2019 can be attributed primarily to higher social insurance and retirement receipts, net individual income tax receipts, customs duties, net corporation income tax receipts, and excise taxes, partially offset by lower deposits of earnings by the Federal Reserve, and other miscellaneous receipts.”
If I’m reading this right, it seems to be saying that there are higher net tax receipts. Now, I’ve looked at this topic for all of 3 minutes, so please tell me what I’m missing.
https://home.treasury.gov/news/press-releases/sm806
And yet when we point to clear examples of actual socialism leading to utter disaster and despair you clowns yell “that’s not our socialism!”
![[roll]](http://l.yimg.com/j/assets/img/emoticons/classic/roll.r191677.gif "roll [roll]")
Mostly because you American left wing socialists only believe in socialism where the populace is almost entirely white. I guess you prefer a little racism with your free shit for everyone
http://www.crfb.org/blogs/treasury-2019-deficit-was-984-billion
Yes, the physical dollar amount is up, but it’s down proportionate to to the GDP from last year and even more from the year before.
Specifically:
“Recent legislation is responsible for almost 60 percent of last year's deficit. CBO estimated that the 2017 tax law would cost almost $230 billion in FY 2019, which would account for 23 percent of the deficit. The Bipartisan Budget Act of 2018 was estimated to cost $190 billion in 2019, which would account for about 19 percent of the deficit. Other deficit-increasing legislation passed since 2015 added another $140 billion to the 2019 deficit. The tax law and this year's spending deal (the Bipartisan Budget Act of 2019) are expected to add even more to the deficit in FY 2020 ($272 billion and $98 billion, respectively), pushing it over $1 trillion for the first time since 2012.”
In a record economy, our tax revenue is decreasing (proportionately) and our deficit is expanding rapidly. That makes the tax act a failure.
When was the last time a CBO estimate was actually right?
Your link references the same YoY tax revenue increases that I did, specifically refuting your point that tax revenues were down dramatically. The deficit is being cause by spending issues, not taxation issues. I would not think that the tax-to-GDP ratio would be directly causing the deficit while revenue is growing unless the GDP increase is government spending. Also, please explain to me how any tax cut laws add to the deficit if the result is greater revenue?
And yet when we point to clear examples of actual socialism leading to utter disaster and despair you clowns yell “that’s not our socialism!”
Mostly because you American left wing socialists only believe in socialism where the populace is almost entirely white. I guess you prefer a little racism with your free shit for everyone
$28 Billion dollars to Farmers but that's not socialism right because MAGA!
You are failing to account for the fact that history shows that you can only raise taxes to the point where it reaches 19.7% of GDP, and anything you do to try to get above that brings GDP down, which stagnates receipts. The laffer curve and its follow-up research shows that maximization of tax rates ends at 35%. Therefore, if you want to run a balanced government budget of 19.7% relative to gdp, any tax rate above 35% is on the wrong side of diminishing returns. Ideally, you would have everyone paying 19.7%, but if you have to have a graduated tax scale you have to determine what level of income is at the maximum rate of 35%. The more people you have paying less than 19.7%, the lower the level of income being taxed above that becomes a necessity. In the US today, that level would be down into the 40,000 dollar range. As you lower the % of spending/GDP, it raises the bottom level of income that needs to be taxed at 35% exponentially.
Rick Perry, for being kind of a maroon, had a legitimate tax plan in 2012 where he proposed two tax rates: 10 and 28%. The kicker is where does the 10% level start?
https://www.msn.com/en-ca/money/top...ployment-drop-in-decade/ar-BBXQOOf?li=AAggNb9
Canada loses 71,200 jobs in biggest employment drop in decade
maybe mr black face shouldve been asking trump to use his magic economy wand instead of bashing him behind is back.
Canada loses 71,200 jobs in biggest employment drop in decade
maybe mr black face shouldve been asking trump to use his magic economy wand instead of bashing him behind is back.
That's catastrophic. It'd be like the US having a jobs reporting showing 700,000 job losses.
Trudeau is a disaster.
That's a flat out lie. I'm sure there's plenty of members of our military that don't like him but to say the military as a whole doesn't respect him is bull.
I've said this 100 times on here. I'm a teacher, not close to wealthy but 2 incomes and we do more than fine.... tax cuts were across the board - I'm willing to bet you are personally taking home more money every check, I know I am.
anyone who says they werent affected by the tax cut is a liar. very few were unaffected.
Liberals/socialists have convinced themselves that tax cuts only benefit those evil super wealthy people. Woe is me, poor little persecuted person - I take home more money every week but those rich people exist, so I'm going to damn tax cuts and whine about them!
Forget it. The same Progressives want US military personnel, let alone officers, to disobey Trump, and W. before him, not realizing always obeying the elected civilian leader is why the US is virtually the only Democratic-Republic over 200+ years that hasn't been a military dictatorship.
Probably the only country that comes close is the Constitutional Monarchy of the United Kingdom (UK), although they have been an even more war-like oligarchy than us.
You know that Mack should be our QB and that every officer in the US Military hates the President. Incredible . You’re a man of vast knowledge and total assurance
Sometimes I wish you inbreds were just a little less inbred, so that way you would be smart enough to see just how fuking stupid you are.
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