Trump Caves On Tariifs w/China

[bambino]

Originally Posted by themystic

Bambino that’s the problem with Trump fans. Zero credit to Obama even though Bush left the country in the biggest financial mess since the depression. That’s a fact. When Trump came to office things were already good.

And Obama did nothing. Trump eliminated Obama’s regulations and cut taxes. Duh! It’s just common sense. You don’t need to be an economist to figure that out. Plus he unleashed our energy resources. We don’t need the Saudis or anyone else for energy. It’s all good TM. Just sit back and enjoy the ride. In your Prius!!!!!

[Chung Tran]

Tiny, you aren't looking at the broad picture as I am..

https://www.bloomberg.com/graphics/2...-consequences/

[Tiny]

Originally Posted by themystic

Brother Tiny. Shouldn’t Trump be judged after 4 years and not 2 1/2 years? I remember when his casinos and other businesses were lighting it up. He ended going bankrupt and not paying his bills. He has ultimately fucked everything and everyone he has ever done business with. Why would America be any different?

Mystic, Having read the definitive biography of the man and having been in business with two people who are very much like him, that was a huge problem for me, and why I wouldn't have voted for him in 2016 even if the best option, Gary Johnson (Libertarian), hadn't run. Trump's just not ethical.

That said, looking back on the first 2-1/2 years, he hasn't set out to intentionally screw America, the way he screwed his investors, his bankers, and his suppliers. He has done some good things as president. He's probably less likely to get us into a war than Hillary Clinton, except maybe with Iran. And our country would do better with him at the helm than Elizabeth Warren or Bernie Sanders. Still his arrogance, untruthfulness, and preference to go with his gut over analysis make him less than ideal.

[Tiny]

Originally Posted by Chung Tran

Tiny, you aren't looking at the broad picture as I am..

https://www.bloomberg.com/graphics/2...-consequences/

This is a partisan piece that goes through various promises by Republicans and attempts to debunk them. You could put something together pretty similar for, say, Obamacare, quoting Democrats, and some publication like Forbes has probably done that.

The only quantitative comparison between income groups that I saw in the article was this:

Families earning from $200,000 to $1 million will see their tax bills drop about 9 percent next year according to Congress’s official scorekeeper, the nonpartisan Joint Committee on Taxation. That’s 1 percentage point more than the tax cut for households earning $75,000 to $100,000.

That's the difference between 9% and 8%, which is not huge, and they're selectively picking out $75,000 to $100,000 households to compare to $200,000 to $1 million households.

And I don't believe the 9%. The only way you can get there from the 6.6% reduction in the marginal rate would be for a huge percentage of the households to have significant benefits from reduced taxation of income realized through pass through entities, in particular entities with rental real estate and large labor expenses. Also, from personal knowledge and experience acquired in the last 6 months, I suspect they didn't fully factor in the provisions of of the act that increased taxes on some earners. I got hit out of left field with a 65% tax rate on some income.

[Tiny]

Originally Posted by Tiny

And I don't believe the 9%. The only way you can get there from the 6.6% reduction in the marginal rate would be for a huge percentage of the households to have significant benefits from reduced taxation of income realized through pass through entities, in particular entities with rental real estate and large labor expenses.

One thing I missed, you might get the 9% to make sense if you assume capital gains and dividend income received by upper income taxpayers from their shareholdings increases because of the corporate tax cut. If you assume Bloomberg's source is right (I don't think it is), you're still left with the income tax cut being about the same for the two income groups they compare.

[themystic]

Originally Posted by Tiny

Mystic, Having read the definitive biography of the man and having been in business with two people who are very much like him, that was a huge problem for me, and why I wouldn't have voted for him in 2016 even if the best option, Gary Johnson (Libertarian), hadn't run. Trump's just not ethical.

That said, looking back on the first 2-1/2 years, he hasn't set out to intentionally screw America, the way he screwed his investors, his bankers, and his suppliers. He has done some good things as president. He's probably less likely to get us into a war than Hillary Clinton, except maybe with Iran. And our country would do better with him at the helm than Elizabeth Warren or Bernie Sanders. Still his arrogance, untruthfulness, and preference to go with his gut over analysis make him less than ideal.

Thanks Brother. A choice between Warren and Sanders is just a socialist meltdown in the making. Trump won’t ever get my vote or respect. I will got to DC to picket and protest the carnival barker. His days are numbered. He sucks ISRAEL Jewish cock now

[Tiny]

Originally Posted by themystic

He sucks ISRAEL Jewish cock now

I see through your ploy. You attack and denigrate Jewish cock because you want to keep all the Jewish pussy to yourself. Well, you've picked the wrong place and the wrong strategy. Instead of pulling down proud Jewish men you should be building yourself up. I would suggest posting flyers with your photo and contact info in Synagogues and in private university dormitories inhabited by JAPS (Jewish American Princesses). You might also consider participating in the Louis Vuitton and Louboutin forums on Reddit.

[eccieuser9500]

I love me some hot Asian brilliance.

Long time.

[eccieuser9500]

Originally Posted by bambino

Sure he did. Trump doubled GDP and raised wages and the lowest unemployment rate in 60yrs. Energy independence. Yep, that never happened under Obama. Trump rode Obama’s economy out the door. And created a great economy. Best in the world.

[LexusLover]

"Globalist-Borderless-EuropeanLovers" will praise the day for "doom and gloom" in lieu of a failed attempt to remove Trump from office by an Obaminable Era coup or a post2018 impeachment. It's rather sad when self-proclaimed "citizens" wish this country's demise, because "their" sorry ass choice of a candidate LOST the election. They deserve no time on the air or recognition. They are pukes, and not worthy of the time of day.

[eccieuser9500]

Wishing is not the same as predicting.

Bringing up HRC? Tsk-Tsk!

[LexusLover]

This IS YOU!



There is always 2020 .... to rectify the failed attempt in 2016.

But, like you, the DNC has decided that losers are better than winners!

A pair of your LOSERS just got rejected from Israel I hear .... They are lucky they weren't arrested for treason against Israel and turned over to the remaining ISIS hoodlums for entertainment as they shot off their mouths about their "freedom of speech"!!!!!

Back to your worthless predictions .... like predicting a ball thrown up in the air will come back down .... when Obaminable wanted an excuse for his inability to improve the economy even with $10 trillion future taxpayer dollars injected into it to repay his political supporters .... he said it was Bush's economy and he was trying to over come the mess Bush left .... so when did Obaminable (and you) decide Obaminable did such a good job .... that he handed over to Trump a roaring success of an economy ....

.... like Clinton whining about Bush/Cheney pre-inauguration talking about their first task was to try to head off a recession ..... he was actually screaming in December .... until the AFL-CIO posted on their website he was full of shit and Bush/Cheney were CORRECT!!!!!

If someone loaned my $10 trillion I could have a pretty good time also!!!! And brag about all the money I was "making"!!!!!!! especially on a 20 year balloon note!!!!!!!!! with a right of renewal for another 20 years!!!!!!!!

You man in 2008 and 2012 was a loser. And he and his merry men just got their little coup exposed and their asses are about to get reamed .... and digging up their 35 year old yearbooks ain't gonna help them much.

BTW: Trump builds. Obaminable et al CONSUME! The problem is: it ain't their money!

If you don't like what Trump's doing .... brush up on your Chinese.

[Chung Tran]

my point about the 1% was not based on one year tax cut analysis. it factors in items such as the huge increase in tax-sheltered inheritance pass-through

[Tiny]

Originally Posted by Chung Tran

my point about the 1% was not based on one year tax cut analysis. it factors in items such as the huge increase in tax-sheltered inheritance pass-through

That probably doesn't help explain it Chung Tran. After a person dies, an estate is created, and the estate files a tax return as an entity separate from the individual. Since they're looking at individuals who make $200,000 to $1 million per year, not estates, this shouldn't enter into their estimate.

You and I have already debated this here so you may recall I think this is a pernicious and inefficient tax. It raises around $20 billion per year out of around $3.5 trillion in total federal revenues. In the long term, the government actually would receive more revenue by reducing the tax to zero, because of the additional money they'd get in income tax if people weren't jumping through hoops, doing things that don't make economic sense, to avoid or pay the tax.

I think your idea is to remove the step up in cost basis. I'd agree with this if you also were going to end the estate tax. And if there were some mechanism to assign an arbitrary tax basis to assets if the heirs don't have the records to substantiate the actual cost basis.

[themystic]

Originally Posted by LexusLover

This IS YOU!



There is always 2020 .... to rectify the failed attempt in 2016.

But, like you, the DNC has decided that losers are better than winners!

A pair of your LOSERS just got rejected from Israel I hear .... They are lucky they weren't arrested for treason against Israel and turned over to the remaining ISIS hoodlums for entertainment as they shot off their mouths about their "freedom of speech"!!!!!

Back to your worthless predictions .... like predicting a ball thrown up in the air will come back down .... when Obaminable wanted an excuse for his inability to improve the economy even with $10 trillion future taxpayer dollars injected into it to repay his political supporters .... he said it was Bush's economy and he was trying to over come the mess Bush left .... so when did Obaminable (and you) decide Obaminable did such a good job .... that he handed over to Trump a roaring success of an economy ....

.... like Clinton whining about Bush/Cheney pre-inauguration talking about their first task was to try to head off a recession ..... he was actually screaming in December .... until the AFL-CIO posted on their website he was full of shit and Bush/Cheney were CORRECT!!!!!

If someone loaned my $10 trillion I could have a pretty good time also!!!! And brag about all the money I was "making"!!!!!!! especially on a 20 year balloon note!!!!!!!!! with a right of renewal for another 20 years!!!!!!!!

You man in 2008 and 2012 was a loser. And he and his merry men just got their little coup exposed and their asses are about to get reamed .... and digging up their 35 year old yearbooks ain't gonna help them much.

BTW: Trump builds. Obaminable et al CONSUME! The problem is: it ain't their money!

If you don't like what Trump's doing .... brush up on your Chinese.

Self Portrait from Lexus Lover