Proposed tax cut
- Thread starter Blue2010
- Start date
He won't get it, but he already knows that. He's coming in with a lowball number just like you would in a business deal. I would also like to see what he is going to cut from spending to offset the loss in revenue.
This is what's important. It's a mixture of top-down and bottom up. He's helping out businesses (which would presumably pass some of the savings onto employees in the form of higher salaries or better benefits), but the doubling of the standard deduction helps all individuals, and most so those in the lower brackets (formally known as: Poors, or unwashed masses).
But all these cuts would add billions to the deficit, so it'll be interesting to see where the other shoe drops. Maybe cutting the fat out of the defense budget (there is a lot of red tape that can be cut without actually impacting defense), severely cutting welfare, unemployment and other public assistance programs, and then costing the government a lot less paying for everyone's healthcare and it'll all balance out.
Getting rid of those no bid contracts in defense would help as well. Not sure who came up with that asinine idea. Healthcare is probably going to have to be cut back, but the GOP can't even come up with a bill good enough for their own party to vote on.
This. That was my thought as well -- essentially, get rid of all the wasteful spending while on the other side, theoretically boosting the economy by giving everyone more disposable income.
I am by no means a tax or financial guy...so I will be tuning into this thread to hear thoughts. With that said, I like the concept of making the tax system simpler. Smaller government, job creation is music to my ears. I actually wish we would go to a flat tax and get rid of the IRS altogether!!!
21 with an NBA rookie contract. Why?
Sorry but Trump is INCREASING the defense budget by 58 billion.
Looks like it'll have to be welfare and unemployment that get the cuts then.
Sucks for everyone trying to milk the system.
The system is heading for complete collapse unless entitlements are cut drastically. We are in a budgetary death spiral right now. I think that is why you see GOPers dragging their feet on carrying out Trump's legislative priorities. They never really supported Trump or thought he could/should win the election; now, they are tripping out trying to figure out how to save their own political butts... No one with a budget conscience in DC or anywhere else for that matter can bring themselves to do anything but try to tread water at this point, hoping against all hope they won't go down with a sinking ship...
Here's a crazy idea. Cut all the nonessential spending to offset the loss in 'revenue'. Parenthesis b/c government has no 'revenue', only that which it steals from us. I agree that some can be cut from defense, but it would be last on my list as it is essentially constitutionally mandated. Welfare, USAID, healthcare, social security, national parks, monuments, EPA, BLM, FERC, FEMA, USDA, DOE, FCC, and ATF are not.
Austerity will come. Could have had a little pain 8, 15, 25 years ago if smarter heads had prevailed. It will be extremely painful when the end comes, but a reset is good from time to time.
Except for the defense industry.
They've got the 'milking the system' thing down-pat.
You mean huge corporations like Walmart that pay their employees such pitiful wages that their employees have to go on food stamps just to feed themselves and keep the lights on?
Or the corporations that outsourced their labor, putting thousands of people at a time on unemployment, just so they can pay some Bangladeshi slave ten cents an hour?
No, those are people that are using the system legitimately. I'm referring to the ones that try to game the system by doing whatever they can to stay on the public dollar instead of getting a legitimate income (for those that are able to).
Or they can get a better paying job. When my pay sucked, I moved into a new job, or worked two jobs.
And taxes pushed those evil corps offshore.
Entitlements have risen so high that it incentivizes would-be minimum wage workers not to work. You can draw unemployment forever now, EBT pays for basically everything you could want to eat or drink, including Red Bull, and you get a cell phone.
ETA: And by the way, we're already seeing big employers of minimum wage workers -- such as McDonald's -- creating alternate techniques in preparation to slash their number of employees and replace them with machines if/when the minimum wage goes up in certain cities, states, such as New York City. (LINK HERE).
It flabbergasts me how many people, civilians and politicians alike, whine about raising the minimum wage to something drastic like $15/hour. It shows a gross misunderstanding of basic economics. Doubling the minimum wage will slash the number of jobs available by 50% or more. Unemployment will skyrocket.
ETA: And by the way, we're already seeing big employers of minimum wage workers -- such as McDonald's -- creating alternate techniques in preparation to slash their number of employees and replace them with machines if/when the minimum wage goes up in certain cities, states, such as New York City. (LINK HERE).
It flabbergasts me how many people, civilians and politicians alike, whine about raising the minimum wage to something drastic like $15/hour. It shows a gross misunderstanding of basic economics. Doubling the minimum wage will slash the number of jobs available by 50% or more. Unemployment will skyrocket.
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I don't think you can draw unemployment for very long now, which is the way it should be. Anyone working for minimal wage and settling for that is an issue. And I have never received a dime in government assistance. It's because I choose to works hard. I had people telling me I could easily go on disability due to my back. They tried to help me plot a course to lead to that. Pitiful what this country has morphed into. They came around d on my camping trip this weekend. Keep making comments about not being able to keep up with me with all my shiny new stuff I buy. My reply was hard work and you can have anything you want in life. They got mad and left. The only time I made the minimal was during high school.
A single mom busting her butt with two jobs needs more help than someone milking the system.
A single mom busting her butt with two jobs needs more help than someone milking the system.
It's back to "normal" now, but 26 weeks is a ridiculous amount of time. Then you just get a job again, work for a couple years, slack off and get fired. Cycle repeats.
Yes, disability is the worst. I know so many rednecks gaming the system and drawing disability for very minor chronic health issues that do not prevent them from working. Meanwhile, a close friend's dad has worked all his life, got seriously injured on a job, and has been fighting for disability for 3+ years and FINALLY got it a couple months back after getting denied repeatedly.
Very few people in the work force make minimum wage and those that do work in jobs that shouldn't pay a lot. The guy making my sandwich at chick-fil-a shouldn't be making $15 an hour. Sorry, that's just the cold hard truth. Learn a marketable skill and you can get paid more. Trade schools are very affordable and you can get assistance to pay for the cost. You'd be surprised how much you can make as a certified welder, electrician, etc.
Exactly, this is what people don't understand. Working at McDonald's is NOT a career. You should not be able to make a living working at McDonald's. That's a place you work as a 17-year-old while still in high school, or as a stop-gap if you're between jobs, or as a part-time job to support yourself while you're in school to better yourself. It's not supposed to be a job you can support a family on.
And yes, you can make very, very decent money of a welder, electrician, plumber, etc., and those types of companies are always hiring.
Oh totally agree on this. Chick-fil-A is like the only fast food place I see that still hires predominantly teenagers. McDonald's and places like that have grown ass men and women working there. Like, what?
And it's their pleasure to hire them.
It's back to "normal" now, but 26 weeks is a ridiculous amount of time. Then you just get a job again, work for a couple years, slack off and get fired. Cycle repeats.
Lol @MA what a fuggin joke. Lovely to know that the last hour of my work week is going to pay for people who haven't had a job in 7+ months.
The chart doesn't specify, but the article I got the image from stated that MA's max duration is 30 months and Montana's is 28.
MT is somewhat surprising, since it's not a very liberal state. MA is no surprise, since it's the most liberal state in the union. CA is pretty damn liberal, but it can't hold a candle to MA.
Let's all move to MA for 2.5 years anyway. We can stay with el Harko.
It's not a big deal for MT since only 6 people live there.
Sorry! I said months but of course meant weeks! 30 weeks for Mass and 28 weeks for Montana. You're right, Montana is very conservative. I would imagine it's higher because of the scarcity of jobs in the state, given the scarce population density and lack of large cities.
More people live in Manhattan than live in Montana.
The programs are just run so poorly, with no verification that the people getting the money are A) trying to get a new job and B) actually need the money.
A) One of my best friends is incredibly lazy. He comes from a fairly well-to-do family and seems content just skating by and getting occasional help from them until they eventually die off and he's left with their money. He's my age (29) and he's already hit the max on unemployment benefits twice. I'm not sure if those numbers in the chart are some sort of an average, or if they've been revamped over the last year or so - but he collected unemployment for 18 months on two separate occasions after losing 2 different jobs about 5 years apart. He'd go to an interview a week or whatever he had to do to remain eligible for the program, but he had no intention of actually taking a job until the benefits ran out.
B) My girlfriend works in the BioTech/Pharmaceutical industry (in finance/accounting not on the science side). Her previous employer got acquired. Over the course of her employment she had been granted a bunch of stock options that all vested upon the acquisition (at about 2-3x the value she was granted them at). So upon the acquisition she got about 2.5x her annual salary (which is a very good salary, higher than mine) from the stock. In addition to that, the acquiring company laid off pretty much all the employees of her company, and gave them tiered severance packages - my GF got a year's salary in severance. She was in no way hurting for money - yet she was eligible for unemployment like 2 weeks after she was laid off. Fortunately we have better morals and she got another job about a month later - but there were several people at her company that collected the max on unemployment there as well.
A) One of my best friends is incredibly lazy. He comes from a fairly well-to-do family and seems content just skating by and getting occasional help from them until they eventually die off and he's left with their money. He's my age (29) and he's already hit the max on unemployment benefits twice. I'm not sure if those numbers in the chart are some sort of an average, or if they've been revamped over the last year or so - but he collected unemployment for 18 months on two separate occasions after losing 2 different jobs about 5 years apart. He'd go to an interview a week or whatever he had to do to remain eligible for the program, but he had no intention of actually taking a job until the benefits ran out.
B) My girlfriend works in the BioTech/Pharmaceutical industry (in finance/accounting not on the science side). Her previous employer got acquired. Over the course of her employment she had been granted a bunch of stock options that all vested upon the acquisition (at about 2-3x the value she was granted them at). So upon the acquisition she got about 2.5x her annual salary (which is a very good salary, higher than mine) from the stock. In addition to that, the acquiring company laid off pretty much all the employees of her company, and gave them tiered severance packages - my GF got a year's salary in severance. She was in no way hurting for money - yet she was eligible for unemployment like 2 weeks after she was laid off. Fortunately we have better morals and she got another job about a month later - but there were several people at her company that collected the max on unemployment there as well.
Is she going to be available to prepare our meals during our visit? You said she was Asian right? I love Asian food.
That was @toophly1124 who has the Asian GF. Although, he is coming up to Boston and if he brings her - she might be my GF by the time you guys get up here.
Ok. Thanks. See what you can work out. I heard they give good massages as well(racist?).
