Tax Reform 2018
Posted: Wed Dec 13, 2017 11:57 pm
It appears that the tax reform legislation will happen. And when a large portion of Americans experience larger paychecks in February, how do you think that will play in November?
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DoubtingThomas wrote:Listen dude! a report by economists, climate scientists, and policy experts estimates that by 2030 the cost of climate change and air pollution combined will rise to 3.2% of global GDP. I highly doubt the younger generations of today are going to forget that the Republican party was the anti-climate science party. When climate change badly hurts our economy the idea of small government would be seen as ridiculous. In am kind of grateful the Trump administration is accelerating climate change.
Secondly, when the Democrats make all undocumented immigrants US citizens that would mean that the Democrats would have about 12 million more votes. Ouch.
Thirdly, what the Hell is the Republican party going to do without Texas and Arizona? Latinos will make Texas and Arizona blue, and states like New Jersey won't be enough to make up.
Fourthly, the younger generations of today are more liberal than previous generations. I don't understand why Republicans want to slow down the inevitable death of the party.
Lastly, the GOP admits "Obamacare Premium Rates Expected To Soar In 2018". High Obamacare premiums will mostly hurt poor and lower middle class Americans in their 40s to 60s. Without the mandate it is going to get very ugly for old dudes. Good luck on 2018 dude.
subgenius wrote:It appears that the tax reform legislation will happen. And when a large portion of Americans experience larger paychecks in February, how do you think that will play in November?
They'll use the extra handful of dollars to take care of the increase in their debt due to the increase in credit rates.subgenius wrote:It appears that the tax reform legislation will happen. And when a large portion of Americans experience larger paychecks in February, how do you think that will play in November?
Xenophon wrote:subgenius wrote:It appears that the tax reform legislation will happen. And when a large portion of Americans experience larger paychecks in February, how do you think that will play in November?
I don't know subs, with Rubio now coming out against, Corker already a no and Lee on the fence this very well could be another failure for them. I wouldn't count this check until the vote passes, even then I wouldn't trust the "it's in the mail" line.
subgenius wrote:and the OP question still remains - if a failure, how will that play? and if it passes, then how?
Point being, if a large group of voters actually see an increase in their take home pay, starting in February, will they view November elections differently than if they did not? Personally, I filter my answer through the idea that most of society's consumer subscribe to the financial strategy of "Don't tell me how much it cost, tell me how much is the monthly payment."
subgenius wrote:wow, all this by November 2018?
The boom scenario for Trump is that tax reform will supercharge economic growth, juice the already soaring stock market, revive mothballed factories in Trump country and indirectly nurture his political recovery. All the better for the GOP if that happens before the midterm elections in November. But it's just as likely that benefits will take years to unfurl, are too small to enrich most Americans and may turn out to be a political loser because they could demonstrably deepen inequality and fan societal resentment. In that case, a political dividend from tax reform could be limited. Trump: We are 'days away' from passing promised tax cut
"In the next 11 months, how much are you going to change the economy and how much are people going to feel that change so that you are actually changing people's vote?" said Wayne Winegarden, senior fellow at the free market Pacific Research Institute.
"I don't think it is clear, especially because (the tax bill) has been jammed through in such a short period of time. It is going to take firms time to adjust and change their investments. You may not feel that short term impact."
Still, for a White House perpetually under siege, mired in internal acrimony and at the mercy of Trump's whims, the tax win, when it comes, will be huge.
Democrats will carp that it was passed in secret, soaks the rich and doesn't live up to its billing. But the measure will register as a significant achievement for the President and his GOP allies. Alongside the appointment of Supreme Court Justice Neil Gorsuch, the bill represents Trump's best chance so far to permanently reshape the economy and American life.
But there are political factors at play that could deprive the President of full value for his victory, including the fact that he is such a polarizing figure.
And with 2018 shaping up as another year of turmoil, with crises like the nuclear showdown with North Korea spiking and the Russia probe potentially coming to fruition, it is possible that other major events will do more to shape the Republican Party's fate than tax reform.
subgenius wrote:It appears that the tax reform legislation will happen. And when a large portion of Americans experience larger paychecks in February, how do you think that will play in November?