Originally published at: http://boingboing.net/2017/04/21/trump-massive-tax-cut.html
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Government via element of surprise. Definitely a new style…
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It’s the biggest. Everyone says so.
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Why are tax cuts not considered inflationary? It seems to me that more money in your pocket means sellers of everything can ask more.
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So should we start putting the chairs up on the tables?
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Because tax money doesn’t just disappear down a black hole when you pay it to the government. Unless the government is running a surplus and just hoarding it every (or damn near to it) gets paid out to companies for projects/services or to people through various social programs. So for revenue neutral cuts it’s just redirecting the flow of money from group A to group B. If it’s deficit fueled cuts it does add some money but it’s not magically printed but borrowed from somewhere so it doesn’t have the same effect.
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He’s going to release his tax returns, showing how much tax money he cut from his assessments? “Biggest tax cut in history” I’m sure.
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F***face von Clownschtick says: “And with the biggest tax cut ever we’re going to invest a trillion dollars in the military and American infrastructure! Free money for all! Yaay!”
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As Maggie Haberman pointed out, he pulls out the superlatives when he doesn’t know what he’s talking about. On the other hand, it sounds perfectly plausible that he’s pushing for the biggest tax cut - for the wealthy - that this country has ever seen. Although the two aren’t mutually exclusive, either.
They’ve been cooking the books to “prove,” via voodoo economics, that the tax cut will “pay for itself.” Given that Trump’s whole process is “Come up with conclusion, make up facts/figures to support it,” it isn’t that surprising.
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It’s the biggest tax break for himself. My heart goes to the American people, but you guys voted for him.
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Well, a minority of the people who could be bothered to vote did so (and they were a minority of US citizens to begin with)… but the fact that even an appreciable minority of a minority voted for him is damning enough.
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I know. That a candidate with nearly 3 mil votes more lost scrambles my brain. FIX. THAT.
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Let’s just see if the classes he promised he would benefit from this cut, would… i think it is just going to include his friends and family.
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(For the wealthiest 1%)
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Simplification of tax system: Romney’s 47% to pay all the tax formerly paid by the 1%. Redistribution!
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“Tax reform is way too complicated, so we’re sending… an a-r-m-a-d-a.
Very powerful.
And submarines.
Even more powerful."
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Also because tax cuts for the rich do not create spending - they just end up getting squirreled away in the Cayman Islands. Tax cuts for the poor can actually light a fire under the economy, like when Bush 44 sent out those $300 checks. When you give $300 to a hobo, you can bet it doesn’t get hoarded in the Caymans.
Also, dumping money stimulates the economy, but that’s not necessarily inflationary. That’s the argument they used to try and kill the Obama stimulus, but inflation stayed at rock bottom. Right now, we could get a lot more stimulus before inflation reared its ugly head. In fact, I think we recently avoided a brush with deflation, which is much much worse.
But please don’t call it tax “reform” when Republicans just want to give shitloads of money to people who have shitloads of money, and bankrupt the country in the process. That’s not reform.
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A little messaging help, unsolicited:
DEMOCRATS: “We’ve already learned that Donald Trump is able to make billions of dollars while using tax loopholes to avoid paying his fair share. Now he wants us to trust him to write the new tax laws, complete with new loopholes, without letting us see how they would affect him and his children. Unless we can see the tax returns and judge whether he is enriching himself with this law, we cannot support it in any way.”
REPORTERS: “How would this bill have affected the taxes of President Trump and his family members who are working in the federal government? Would they pay more or less?”
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This is my main concern with universal basic income funny enough. 'They know you will have x money… what keeps them from ramping prices up?
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Not to mention that employers already know exactly how much take-home pay a person is willing to settle for, so the answer to many requests for pay raises going forward would be, “But but you got that fancy tax cut, you don’t need a raise. If anything we should cut your pay, taker.”
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