The Tax Cut Sham

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_Kevin Graham
_Emeritus
Posts: 13037
Joined: Fri Oct 27, 2006 6:44 pm

The Tax Cut Sham

Post by _Kevin Graham »

$1.5 trillion tax cut had no major impact on business spending

The White House had predicted that the massive fiscal stimulus package, marked by the reduction in the corporate tax rate to 21 percent from 35 percent, would boost business spending and job growth. The tax cuts came into effect in January 2018.

"A large majority of respondents, 84 percent, indicate that one year after its passage, the corporate tax reform has not caused their firms to change hiring or investment plans," said NABE President Kevin Swift.


It's as if Republicans don't know crap abut the economy or something... they make Liberals look like economic geniuses everytime they pass a huge tax cut and nothing they predicted would happen actually happens.
_honorentheos
_Emeritus
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Re: The Tax Cut Sham

Post by _honorentheos »

It's even worse than that it had no impact. There were a fair number of reports throughout the year on how companies were using the savings to fund stock buybacks. This Vox article is one example: https://www.vox.com/2018/8/2/17639762/s ... epublicans

The Republican tax cuts have been great for corporations, which have spent billions of the dollars they’ve reaped in savings buying up their own stock to reward shareholders and investors. Corporate executives and insiders are taking advantage of the stock buyback boom to sell shares they own to the companies they work for, profiting handsomely. Companies are spending millions or billions of dollars to reward shareholders and prop up their stock prices with buybacks, even if that means laying off workers to do it.
The world is always full of the sound of waves..but who knows the heart of the sea, a hundred feet down? Who knows it's depth?
~ Eiji Yoshikawa
_Themis
_Emeritus
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Re: The Tax Cut Sham

Post by _Themis »

Kevin Graham wrote:It's as if Republicans don't know crap abut the economy or something... they make Liberals look like economic geniuses everytime they pass a huge tax cut and nothing they predicted would happen actually happens.

It's the problem when the extremists get in charge and the President is there only to enrich himself. I suspect many knew it would not have the impact they were claiming. It's not hard to see how it would play out and that it was an obvious move to filter more money to the wealthy. This is who really owns the Republicans these days, although the Russians claim part ownership of Trump. All hail your master Putin. :twisted:
42
_ajax18
_Emeritus
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Re: The Tax Cut Sham

Post by _ajax18 »

Themis wrote:
Kevin Graham wrote:It's as if Republicans don't know ____ abut the economy or something... they make Liberals look like economic geniuses everytime they pass a huge tax cut and nothing they predicted would happen actually happens.

It's the problem when the extremists get in charge and the President is there only to enrich himself. I suspect many knew it would not have the impact they were claiming. It's not hard to see how it would play out and that it was an obvious move to filter more money to the wealthy. This is who really owns the Republicans these days, although the Russians claim part ownership of Trump. All hail your master Putin. :twisted:

Even Putin doesn't conduct predawn raids to intimidate and criminalize the political opinion of his opponents, at least not in the US.
And when the confederates saw Jackson standing fearless as a stone wall the army of Northern Virginia took courage and drove the federal army off their land.
_canpakes
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Re: The Tax Cut Sham

Post by _canpakes »

ajax18 wrote:Even Putin doesn't conduct predawn raids to intimidate and criminalize the political opinion of his opponents, at least not in the US.

Nah. He just stabs ‘em with a poison-tipped umbrella and kills them.
_Doctor CamNC4Me
_Emeritus
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Re: The Tax Cut Sham

Post by _Doctor CamNC4Me »

ajax18 wrote:Even Putin doesn't conduct predawn raids to intimidate and criminalize the political opinion of his opponents, at least not in the US.


Bull. damned. crap.

Also, who's the head of the DoJ?

And also, what does this have to do with a Republican running up our debt by ANOTHER trillion Mr. Party of Fiscal Conservatives?

And why am I typing to you when it's shown you don't read?

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

Every record...falsified, every book rewritten...every statue...has been renamed or torn down, every date...altered...the process is continuing...minute by minute. History has stopped. Nothing exists except an endless present in which the Ideology is always right.
_Doctor CamNC4Me
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Re: The Tax Cut Sham

Post by _Doctor CamNC4Me »

George Carlin had it exactly right - plutocracy depends upon keeping the masses of people too stupid, tired, and poor to change the system of their oppression and enslavement. Under those conditions being truly neighborly is not in the cards:

"There's a reason for this, there's a reason education sucks, and it's the same reason it will never ever ever be fixed. It's never going to get any better. Don't look for it. Be happy with what you've got... because the owners of this country don’t want that. I'm talking about the real owners now... the real owners. The big wealthy business interests that control things and make all the important decisions.

Forget the politicians. The politicians are put there to give you the idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own and control the corporations. They’ve long since bought and paid for the Senate, the Congress, the state houses, the city halls. They got the judges in their back pockets and they own all the big media companies, so they control just about all of the news and information you get to hear. They got you by the balls. They spend billions of dollars every year lobbying. Lobbying to get what they want. Well, we know what they want. They want more for themselves and less for everybody else, but I’ll tell you what they don’t want. They don’t want a population of citizens capable of critical thinking. They don’t want well-informed, well-educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. That’s against their interests. That’s right.

They don’t want people who are smart enough to sit around a kitchen table and think about how badly they’re getting screwed by a system that threw them overboard 30 fuckin’ years ago. They don’t want that. You know what they want? They want obedient workers. Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it. And now they’re coming for your Social Security money. They want your fuckin' retirement money. They want it back so they can give it to their criminal friends on Wall Street. And you know something? They’ll get it. They’ll get it all from you sooner or later 'cause they own this fuckin' place. It’s a big club and you ain't in it. You and I are not in the big club. ...The table is tilted, folks. The game is rigged and nobody seems to notice. ...And nobody seems to notice. Nobody seems to care. That’s what the owners count on.

The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their assholes every day, because the owners of this country know the truth. It’s called the American Dream, 'cause you have to be asleep to believe it."

The very people that need to read and internalize these words will do neither.

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

Every record...falsified, every book rewritten...every statue...has been renamed or torn down, every date...altered...the process is continuing...minute by minute. History has stopped. Nothing exists except an endless present in which the Ideology is always right.
_Chap
_Emeritus
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Re: The Tax Cut Sham

Post by _Chap »

Doctor CamNC4Me wrote:George Carlin had it exactly right - plutocracy depends upon keeping the masses of people too stupid, tired, and poor to change the system of their oppression and enslavement.


Er, yes.

I really like your post, but, given the views you express, I'd tend to say you are a left-leaning kind of person (you know, it's the 'plutocrats versus the masses' stuff). But I frequently see you expressing a (to put it mildly) strong distrust for what you call 'leftists'.

So, what gives? I am genuinely not trying to be rude to you, and I would appreciate a clarification of your views. I don't much like these left-right labels, but given that you quite frequently use at the 'left' label pejoratively, where are you?
Zadok:
I did not have a faith crisis. I discovered that the Church was having a truth crisis.
Maksutov:
That's the problem with this supernatural stuff, it doesn't really solve anything. It's a placeholder for ignorance.
_Doctor CamNC4Me
_Emeritus
Posts: 21663
Joined: Mon Jun 15, 2009 11:02 am

Re: The Tax Cut Sham

Post by _Doctor CamNC4Me »

I'm a radical centrist egalitarian pragmatist who rejects arbitrary nonsense. I also like meritocracies and puppies. As with everyone, my ethical center shifts around a bit depending on the issue. I try to reject tribalism even though I'm a registered Democrat. I'm also an absurdist who thinks we probably exist in a simulation, but it doesn't matter if that's true or not. I'm often perceptually contradictory, trollish, antagonistic, and often try to just be entertaining because humorlessness is oppressive. I possess racial, ethnic, national, and gender biases I try to work through, but are at loggerheads with looney tunes who veer too far to the right or left. I of course am guilty of being too far right or left depending on the observer.

To your specific observation. I trust Leftist ideology more than I trust nationalism, or in my case American exceptionalism. But I also view Leftist politics as ripe for human behaviors that lead to disaster, as we've witnessed over and over again. I think either way you swing we run the risk of meeting at totalitarianism, and right now we're seeing the Left swing so far to the left it's becoming Orwellian. Then again, the Right has swung so far to the right it's become Orwellian, too. I could lay out a host of personal positions that may seem reasonable to me, but would seem wholly unpalatable to others as being bananas or unfair or extreme or not going far enough.

I hope that satisfactorily sated your curiosity about my posting behavior.

- Doc
In the face of madness, rationality has no power - Xiao Wang, US historiographer, 2287 AD.

Every record...falsified, every book rewritten...every statue...has been renamed or torn down, every date...altered...the process is continuing...minute by minute. History has stopped. Nothing exists except an endless present in which the Ideology is always right.
_Jersey Girl
_Emeritus
Posts: 34407
Joined: Wed Oct 25, 2006 1:16 am

Re: The Tax Cut Sham

Post by _Jersey Girl »

Doctor CamNC4Me wrote:George Carlin had it exactly right - plutocracy depends upon keeping the masses of people too stupid, tired, and poor to change the system of their oppression and enslavement. Under those conditions being truly neighborly is not in the cards:

"There's a reason for this, there's a reason education sucks, and it's the same reason it will never ever ever be fixed. It's never going to get any better. Don't look for it. Be happy with what you've got... because the owners of this country don’t want that. I'm talking about the real owners now... the real owners. The big wealthy business interests that control things and make all the important decisions.

Forget the politicians. The politicians are put there to give you the idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own and control the corporations. They’ve long since bought and paid for the Senate, the Congress, the state houses, the city halls. They got the judges in their back pockets and they own all the big media companies, so they control just about all of the news and information you get to hear. They got you by the balls. They spend billions of dollars every year lobbying. Lobbying to get what they want. Well, we know what they want. They want more for themselves and less for everybody else, but I’ll tell you what they don’t want. They don’t want a population of citizens capable of critical thinking. They don’t want well-informed, well-educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. That’s against their interests. That’s right.

They don’t want people who are smart enough to sit around a kitchen table and think about how badly they’re getting screwed by a system that threw them overboard 30 fuckin’ years ago. They don’t want that. You know what they want? They want obedient workers. Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it. And now they’re coming for your Social Security money. They want your fuckin' retirement money. They want it back so they can give it to their criminal friends on Wall Street. And you know something? They’ll get it. They’ll get it all from you sooner or later 'cause they own this fuckin' place. It’s a big club and you ain't in it. You and I are not in the big club. ...The table is tilted, folks. The game is rigged and nobody seems to notice. ...And nobody seems to notice. Nobody seems to care. That’s what the owners count on.

The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their assholes every day, because the owners of this country know the truth. It’s called the American Dream, 'cause you have to be asleep to believe it."

The very people that need to read and internalize these words will do neither.

- Doc


My god I had written about Carlin's owners of the country in a post the other day and scrapped it. Yes, I believe he had it exactly right.

Every day I get the clear impression that we are mere bystanders, commentators, and powerless "watchers" of what the owners are pulling off before our very eyes. We think that our vote means something when anyone with the means to bankroll a campaign can succeed into winning the presidency if only they have the right contacts and money to buy dirt or pull strings.

It works. We, the collective we, voted one in.

While we busy ourselves discussing such matters, the only persons who profit from our onlooking status and busy work are the owners. Because they have the power, not us. They're in the arena, not us. We're merely on the outside looking in. Carlin, swear to God, had it right.

I also think (and this is more based on recent personal experience than objectivity) that decades ago American's fell prey to the shiny ball that is television now supplemented by social media, and spend more time passively accepting whatever they see as gospel instead of reading and researching--exercising their brains and improving their ability to think--or just spending our heartbeats dwelling on nothing that really matters.

Who won the Miss America title? Who won the Golden Globes or Oscars? How the hell would I know and why would I care about such as that?

I think this dumbing down of America came to a head with me just recently as I observed and interacted with a relative back East. The topic doesn't matter much. It was the fact that she couldn't read, digest and think through the articles that she had posted and when I challenged her reasoning she simply sent me a link to the first article as if she had never posted it prior or forgot within the span of 30 minutes what she had done. She couldn't even accurately read the dates in the article and understand how they applied to her own comments and rendered them irrelevant to her assertion.

Posting on discussion boards and opening myself up to challenge for twenty years has either ruined me entirely or improved my ability to think. Or both.

I'm no genius but I see evidence of this dumbing down every single time I read comments on social media, below articles, and under youtube videos. People can't think their way out of the proverbial paper bag these days.

I'll cut this off now. This is fast turning into an off topic rant.
Failure is not falling down but refusing to get up.
Chinese Proverb
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