Trump's c****av***s payroll tax cut motivated by ree******n, not logic: https://www.washingtonexaminer.com/opinion/trumps-c****av***s-payroll-tax-cut-motivated-by-re-e******n-not-logic...

Lonewolf

https://www.washingtonexaminer.com/opinion/trumps-c****av***s-payroll-tax-cut-motivated-by-re-e******n-not-logic

Radiance3

Lonewolf wrote:

https://www.washingtonexaminer.com/opinion/trumps-c****av***s-payroll-tax-cut-motivated-by-re-e******n-not-logic

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I hope the tax cuts apply to all including those retired.
I pay too much federal tax right now.

The purpose of cutting taxes is putting more money in the hands of the people. When people have money they spend more, buy things, and economy is activated.

There is a negative effect though. Federal deficits increase.

PeterS

Radiance3 wrote:

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I hope the tax cuts apply to all including those retired.
I pay too much federal tax right now.

The purpose of cutting taxes is putting more money in the hands of the people. When people have money they spend more, buy things, and economy is activated.

There is a negative effect though. Federal deficits increase.

True but the economy doesn't need to be activated. Trump himself has said that this is the best economy the world has ever seen so what's the point in further stimulus? As for cutting payroll taxes, they are just a gimmick and since Republicans have already had discussions on cutting SS why do anything to cause it to run out of money sooner thereby playing into the hands of those who want to see it cut and eventually eliminated? If you pay too much in federal tax that's where taxes should be cut not SS which plays a major roll in the lives of those 65 and over.

Lonewolf

Radiance3 wrote:

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I hope the tax cuts apply to all including those retired.
I pay too much federal tax right now.

The purpose of cutting taxes is putting more money in the hands of the people. When people have money they spend more, buy things, and economy is activated.

There is a negative effect though. Federal deficits increase.

Funny when they give tax breaks to the ones that doubt need it will it do the same thing

PeterS

Lonewolf wrote:

https://www.washingtonexaminer.com/opinion/trumps-c****av***s-payroll-tax-cut-motivated-by-re-e******n-not-logic

The question begged, other than political, is there any other reason for cutting payroll taxes? And the devil is in the details--watch for a clause that would make them permanent. Republicans have been trying for decades to do away with SS and the best way to do it is to simply starve it to death. That people will be starving to death too is to be overlooked. This is about policy and getting it in place anyway they can and since conservatives WILL NOT v**e for a tax increase down the road democrats will be hapless to do anything about it...

Lonewolf

PeterS wrote:

The question begged, other than political, is ther... (show quote)

son of witless

Lonewolf wrote:

Talk amongst yourselves. It is quite highly entertaining.

lpnmajor Loc: Arkansas

Radiance3 wrote:

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I hope the tax cuts apply to all including those retired.
I pay too much federal tax right now.

The purpose of cutting taxes is putting more money in the hands of the people. When people have money they spend more, buy things, and economy is activated.

There is a negative effect though. Federal deficits increase.

I understood that they were proposing EMPLOYER payroll tax reduction, not worker taxes.

PeterS

lpnmajor wrote:

I understood that they were proposing EMPLOYER payroll tax reduction, not worker taxes.

I understood them to mean both ways. We'll see in the next few days. Either way, it is nothing but a political ploy to destroy SS and get Trump re-elected at the same time...

Radiance3

PeterS wrote:

True but the economy doesn't need to be activated.... (show quote)

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Because of the v***s, the adverse decline of the stock market will definitely affect the economy. Lots of money lost in trillions in the stock market. There is a need to stimulate the economy. Putting more money on the hands of the people to spend.
When people spend sales grow, market expands.

PeterS

Radiance3 wrote:

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Because of the v***s, the adverse decline of the stock market will definitely affect the economy. Lots of money lost in trillions in the stock market. There is a need to stimulate the economy. Putting more money on the hands of the people to spend.
When people spend sales grow, market expands.

The effect on the market is t***sient and it will rebound as fast as it declined. Trump is boasting that the hourly wage increase is the highest it has ever been. Too much stimulus will be inflationary and wipe out the gains in hourly wages. On top of that, this is nothing more than a political stunt, done I might add without examining how it will really impact the economy or how it will be repaid...if it will be repaid. As paltry as SS might be, for millions of people it is the only security people have going into their old age. It's irresponsible to screw around with the only safety net most people will ever have.

Radiance3

PeterS wrote:

True but the economy doesn't need to be activated.... (show quote)

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The effects of the c****a v***s is not the fault of the president. That's what happened to the slowing down of the economy.

Radiance3

PeterS wrote:

The effect on the market is t***sient and it will ... (show quote)

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What inflationary are you talking about? Currently inflation is very low. Inflation means there are too much demand in the market with very low supplies. Currently salaries and wages went up especially to those jobs needing sk**led workers. There are many sk**led jobs available but short of qualified workers. Companies pay higher wages or salaries to hiring the qualified ones.

The purpose of the tax rate reduction is balancing the effects of the v***s in our economy. Many businesses has slowed down, some could not function fully as a result. E.g. Tourism has slow down, all those companies with relevant business activities also slow down. When it is slow, the demands are very low, and therefore, there is a negative effect on inflation.

roy

Radiance3 wrote:

=============== br What inflationary are you talki... (show quote)

Inflation by government standards is low but they sure don't live in the real world where everything you buy for the last couple of years is going up .one example a 1 liter bottle of llisterine mouth wash has gone up a dollar,now if that's not inflation what is?

Pariahjf

Radiance3 wrote:

=============== br What inflationary are you talki... (show quote)

And then what? Bailouts for the banks because fewer people are using them? Bailouts for the shale oil industry because they can't make a profit now that oil prices are slumping? Bailouts for the airlines because they won't make a profit? Bailouts for companies because they can't produce anything because their supply lines are behind schedule? Where does it end? Nothing is going to fix the economy from this mess----let the free market correct itself and quit messing around with it AND the federal budget. None of it is necessary.