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-   -   The Trump Tax Cut: Even Worse Than You’ve Heard (http://www.striped-bass.com/Stripertalk/showthread.php?t=94616)

JohnR 03-04-2019 09:26 AM

Quote:

Originally Posted by Got Stripers (Post 1163267)
You got that right boss, borrow and spend until the credit runs out, then file for bankruptcy; it's the American way. The problem is who bails out the US government? Trump probably has some good financial ties to Russia and Jarad of course can work his Saudi buddies for a bailout package.


How much do you blame on Trump?

Jim in CT 03-04-2019 10:25 AM

Quote:

Originally Posted by JohnR (Post 1163265)
Interesting: CNN / Yahoo and others reporting that the refunds (cough Federal interest free borrowing of your money for a year) of taxes are about the same or slightly higher.

https://finance.yahoo.com/news/irs-n...170638232.html

https://www.usatoday.com/story/opini...mn/3026996002/

Now, can we go back to the Debt? The actual National Emergency?

Another liberal myth debunked, and I wonder if CNN and MSNBC issued a correction.

It really doesn't matter if refunds decrease, if withholdings decreased by a larger amount, you paid less.

Jim in CT 03-04-2019 10:26 AM

Quote:

Originally Posted by JohnR (Post 1163269)
How much do you blame on Trump?

Not all of it, some he blames on Bush.

The debt, as you have said, is critical. But Obama ran up the debt, and I don't know anyone who got anything from it. At least in this case, regular people are benefitting, as opposed to powerful congresspeople whose spouses own the companies that got hugeamounts of federal spending. I mean that's happening here too, but at least many of us got something.

detbuch 03-04-2019 10:37 AM

Doing my taxes now. I'm getting almost twice as much refund than last year, and my monthly take home pay has comfortably increased. And I'm barely, if that, in the lower end of the "middle class," whatever that is.

PaulS 03-04-2019 10:51 AM

Quote:

Originally Posted by Jim in CT (Post 1163280)
Not all of it, some he blames on Bush.

The debt, as you have said, is critical. But Obama ran up the debt, and I don't know anyone who got anything from it. At least in this case, regular people are benefitting, as opposed to powerful congresspeople whose spouses own the companies that got hugeamounts of federal spending. I mean that's happening here too, but at least many of us got something.

2 totally different economies. The Obama debt was bc we were trying to recover from the Bush recession (largest since the great depression). Trump is running up a huge deficit with low unemployment and booming economy.

The Repub. howled and complained about that debt but now are sitting on their hands afraid to say anything.

Jim in CT 03-04-2019 11:10 AM

Quote:

Originally Posted by PaulS (Post 1163288)
2 totally different economies. The Obama debt was bc we were trying to recover from the Bush recession (largest since the great depression). Trump is running up a huge deficit with low unemployment and booming economy.

The Repub. howled and complained about that debt but now are sitting on their hands afraid to say anything.

"The Obama debt was bc we were trying to recover from the Bush recession "

Some of the debt was related to recession recovery, some was also because of the wars he inherited. Some of it was also because pof liberal pet projects like Obamacare (which did some great things but was expensive) and the "stimulus", which cost 750B of borrowed money, and I have no idea where any of it went, where were those shovel ready projects?

By the way, on the "Bush" recession, which party controlled both houses of Congress when it happened?

Kidding. But that recession was not Bush's fault. It was partly the GOPs fault for saying banks could also be investment houses, and partly Clintons fault for signing that (was that the repeal of Glass Segal?). Also the fault of fraud on Wall Street with fishy things like collateralized debt obligations which almost no one understands, that wasn't the fault of either party. And lastly, not something democrats like to point out, large numbers of people being stupid and buying way more house than they could ever afford. Plenty of blame all around...both parties, banks, Wall Street, and us. Not sure what Bush did.

Jim in CT 03-04-2019 11:11 AM

Quote:

Originally Posted by detbuch (Post 1163283)
Doing my taxes now. I'm getting almost twice as much refund than last year, and my monthly take home pay has comfortably increased. And I'm barely, if that, in the lower end of the "middle class," whatever that is.

Liar!!

Got Stripers 03-04-2019 12:06 PM

Lots of blame to go around and Trump and the GOP own their fair share.
They certainly are willing to add to the problem, without much talk about that problem. The fing wall is more of a problem to them and it certainly isn't anywhere near the magnitude of the deficit IMHO; not even in the same ballpark.

I'm retired so I can't comment on income, since I have none, but at a risk level of 3, I still have a long way to go to regain all the money I lost out of my retirement accounts. So the tax cut did zip for me, the stock market dive eat away a lot of my savings and even though I'm gaining some of those losses back; not even close to where I topped out before the correction started.

Jim in CT 03-04-2019 12:16 PM

Quote:

Originally Posted by Got Stripers (Post 1163317)
Lots of blame to go around and Trump and the GOP own their fair share.
They certainly are willing to add to the problem, without much talk about that problem. The fing wall is more of a problem to them and it certainly isn't anywhere near the magnitude of the deficit IMHO; not even in the same ballpark.

I'm retired so I can't comment on income, since I have none, but at a risk level of 3, I still have a long way to go to regain all the money I lost out of my retirement accounts. So the tax cut did zip for me, the stock market dive eat away a lot of my savings and even though I'm gaining some of those losses back; not even close to where I topped out before the correction started.


The S&P500 is less than 5% off it's all-time high. If you lost a lot more than that and you're retired, (1) I am sorry and hope you get it all back and then some, but (2) that's more your advisor's fault and not so much Trumps.

PaulS 03-04-2019 01:07 PM

The only thing that I know is that I was doing a lot better in the stock market when I left for the gym than when I got back.

PaulS 03-04-2019 01:10 PM

And I learned today that alcohol takes sap off nylon jackets.

Jim in CT 03-04-2019 01:11 PM

Quote:

Originally Posted by PaulS (Post 1163324)
The only thing that I know is that I was doing a lot better in the stock market when I left for the gym than when I got back.

that’s true, apparently trump shot his mouth off at the fed, and the mrjet didn’t like it. if only his handlers could
handle him a little bit.
Posted from my iPhone/Mobile device


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