The Trump Economy

[Taro T]

4 minutes ago, Koko78 said:

 

That's why I would want to see the requirement that the budget be balanced every so often, so they cannot get too far out of whack without having to make the politically painful cuts.

 

As for emergencies, they may have to be spelled out. "We can't afford Social Security this year because we spent too much" is not an emergency. Hurricanes flattening Puerto Rico and flooding Houston are.

If they're bringing in taxes at say 26% of GDP (a level 44 never approached, btw), they can have a serious porkfest on the other side of that equation & the economy will be seriously in the dumper.  And that would likely bein balance every single year.  It is important IMHO that if there is a requirement for a balanced budget that there be a max that they can't exceed on the spending side which is below simply whatever they want to tax.  (17-18% GDPis my best guess at what the # should be; even though we typically are spending more like 20-22%.)

 

And, war should be pretty much the only emergency that allows them to bust the budget, but we've actively been at war for almost 17 years to the day with no end in sight.  So, they're always able to blow through that cap, should they even bother to place such a cap.

 

& If they are having a balanced budget without expecting at least 2 hurricanes, X fires, & a major earthquake, they'll always blow through the budget as well.  You don't necessarily know when that stuff will happen, but they have a pretty good handle on how often disasters will happen within a given timeframe on average.  A natural disaster should not give Congress, in a balanced budget framework, the ability to blow through the budget.  That money should come from a separate account, IMHO.

[TakeYouToTasker]

42 minutes ago, Foxx said:

if we stopped spending $756 for hammers and $621 for toilet seats, we could probably balance the budget in short order.

 

The money isn't actually spent on "hammers" and "toilet seats".

 

The money is spent on black ops.

 

"Hammers" and "toilet seats" is how it's accounted for.

[Foxx]

6 minutes ago, TakeYouToTasker said:

 

The money isn't actually spent on "hammers" and "toilet seats".

 

The money is spent on black ops.

 

"Hammers" and "toilet seats" is how it's accounted for.

thank you for clearing that up. [/sarcasm]

Edited September 12, 2018 by Foxx

[TakeYouToTasker]

14 minutes ago, Foxx said:

thank you for clearing that up. [/sarcasm]

 

Mhmmm...

 

It appeared that it needed to be, because it wasn't mentioned.

 

edit:  I'm not ignoring you in the other thread.  I have a pretty full calendar today, and haven't had the time to give your post the thoughtful reply it deserves.  I will, however.

Edited September 12, 2018 by TakeYouToTasker

[DC Tom]

20 minutes ago, TakeYouToTasker said:

 

The money isn't actually spent on "hammers" and "toilet seats".

 

The money is spent on black ops.

 

"Hammers" and "toilet seats" is how it's accounted for.

 

Source: Judd Hirsch, Independence Day.

[Foxx]

4 minutes ago, TakeYouToTasker said:

...  I'm not ignoring you in the other thread.  I have a pretty full calendar today, and haven't had the time to give your post the thoughtful reply it deserves.  I will, however.

no worries. meat space always takes precedence. it just so happens that i have an extended period of downtime on the backend of a business trip. it's all good.

[Nanker]

8 hours ago, GG said:

The Fed under his tenure had zero interest rates.  That boosted stock prices. 

But the “Fed” is part of the government, so he had control over it and therefore is responsible for the boost in stock prices.

7 hours ago, Foxx said:

because the economy was so anemic.

But he is solely responsible for the great economic recovery. I’ve read that right here. 

[GG]

8 hours ago, TPS said:

You make a good point about outsourcing IT, however the issue concerns the tax cut for the one-time repatriation of profits which was touted as a boon for investment in American companies and workers by the current resident of the White House.  You provide reasons why it was never going to materially impact current PP&E--they've been doing it for a long time (does that mean it was under Obama...? ?). It has, however, materially impacted stock re-purchases to-date.

 

On a side note, I recently realized that my activity on PPP is directly related to the level of insanity on TSW....

 

For the record, I was never on the low capital investment train, so yeah it also happened under Obama.  But I also said that high corporate profits under his term was a mirage that was stoked by below the line items (low interest rates, accelerated depreciation, low foreign taxes), not true economic profit.  Net profit was increasing faster than EBITDA, so that was a big hint.

 

But lowering the tax on foreign earnings will be stimulative because you've removed a massive barrier to bring those earnings home AND eliminated the leverage risk when companies borrowed against the foreign cash.  It's not a foregone conclusion that the repatriated cash will be used to spur investment in the US, but with a much more favorable business climate and no friction to bring that cash back, the opportunity to reinvest in the US is now infinitely higher.

[Tiberius]

Quote

 

Several conservative economists, including one of President Donald Trump’s campaign advisers, disputed the White House’s claim that a corporate tax cut Trump signed into law last year has already paid for itself.

 

 

Trump’s top economic adviser, Kevin Hassett, highlighted economic stimulus from the tax cuts as part of a presentation to reporters on Monday intended to strengthen Trump’s claim that U.S. economic growth is due to his policies. “I think that the notion that the corporate tax side has about paid for itself is clearly in the data,” Hassett said.

 

Good thing deficits now don't matter. 

 

https://www.bloomberg.com/news/articles/2018-09-11/white-house-s-corporate-tax-cut-claim-questioned-by-economists?srnd=politics-vp

[Koko78]

33 minutes ago, Tiberius said:

Good thing deficits now don't matter.

 

Thank God that neither deficits nor the spending cap have mattered since 2009.

[Tiberius]

8 minutes ago, Koko78 said:

 

Thank God that neither deficits nor the spending cap have mattered since 2009.

And tax cuts will pay for everything 

[3rdnlng]

4 minutes ago, Tiberius said:

And tax cuts will pay for everything 

Measured against most of us here you are like a 5 watt bulb compared to a floodlight.

[Tiberius]

1 minute ago, 3rdnlng said:

Measured against most of us here you are like a 5 watt bulb compared to a floodlight.

It was a lie, the tax cuts are not paying for themselves. 

 

And are you claiming you are smarter than me? 

 

[3rdnlng]

7 minutes ago, Tiberius said:

It was a lie, the tax cuts are not paying for themselves. 

 

And are you claiming you are smarter than me? 

 

Yes, Gleeful Gator Five Watt, I am. Way smarter.

[DC Tom]

9 minutes ago, Tiberius said:

It was a lie, the tax cuts are not paying for themselves. 

 

And are you claiming you are smarter than me? 

 

 

I know trees that are smarter than you.  

[Tiberius]

28 minutes ago, DC Tom said:

 

I know trees that are smarter than you.  

Tom and 3rd thing are smart ones. Kind of shocked DR didn't like Tom's post. He must be in a meeting, lol 

 

 

[3rdnlng]

29 minutes ago, Tiberius said:

Tom and 3rd thing are smart ones. Kind of shocked DR didn't like Tom's post. He must be in a meeting, lol 

 

 

That picture must have been taken when Hillary first learned about Benghazi.

[Foxx]

21 hours ago, Tiberius said:

It was a lie, the tax cuts are not paying for themselves. 

 

And are you claiming you are smarter than me? 

 

just curious... how many of your postings are merely democratic talking points? smarter goes without saying.

 

btw, mornin' tibs.

[Tiberius]

Just now, Foxx said:

just curious... how many of your postings are merely democratic talking points? smarter goes without saying.

 

btw, mornin' tibs.

Good morning Foxx, and I don't know.  I suppose some are just because I agree with them, but I do not seek out talking points like  B-Man does.  

[Tiberius]

Putin is smiling. From Berxit to undermining NATO, it's becoming clear Trump agenda, at Putin's behest, is to destroy international cooperation. 

 

BREAKING NEWS

China retaliates with tariffs on $60 billion in U.S. imports, the latest salvo in trade fight

The response from Beijing came after President Trump went ahead with 10 percent tariffs on a range of Chinese products, including consumer goods.

• By Danielle Paquette
• 25 minutes ago

[TPS]

10 minutes ago, Tiberius said:

Putin is smiling. From Berxit to undermining NATO, it's becoming clear Trump agenda, at Putin's behest, is to destroy international cooperation. 

 

BREAKING NEWS

China retaliates with tariffs on $60 billion in U.S. imports, the latest salvo in trade fight

The response from Beijing came after President Trump went ahead with 10 percent tariffs on a range of Chinese products, including consumer goods.

• By Danielle Paquette
• 25 minutes ago

If Trump is working "at Putin's behest," how can you explain what's happening in Syria?

[Tiberius]

5 minutes ago, TPS said:

If Trump is working "at Putin's behest," how can you explain what's happening in Syria?

Can you be more specific? And why didn't you answer my questions about that article you posted about Trump and Russia that was really easy to see through? 

[TPS]

3 hours ago, Tiberius said:

Can you be more specific? And why didn't you answer my questions about that article you posted about Trump and Russia that was really easy to see through? 

If Trump is a Putin stooge, then why did he change his policy on Syria from his campaign statements that we should pull out, to actively seeking regime change?  

Syria is being supported by Russia, so wouldn't Putin push him to pull out if he's a stooge?

 

Sorry, I sometimes forget to come back to things.  Without looking, I can say, as I've said all along, that the Russia collusion story is utter BS, hatched by Podesta et al after the loss.  Mueller's investigation, closing in on two years now, has yet to find any material influence on the election.  None of the indictments support the narrative.  It's not difficult to find  illegal activity among the misfits that joined this administration.  The one exception (not a misfit) is Flynn, and they got him on perjury--he said something different than what they had on tape.  The Dems have wasted tons of political capital on the Russian narrative, and it's done more harm than good (IMO). 

[GG]

9 minutes ago, TPS said:

If Trump is a Putin stooge, then why did he change his policy on Syria from his campaign statements that we should pull out, to actively seeking regime change?  

Syria is being supported by Russia, so wouldn't Putin push him to pull out if he's a stooge?

 

Sorry, I sometimes forget to come back to things.  Without looking, I can say, as I've said all along, that the Russia collusion story is utter BS, hatched by Podesta et al after the loss.  Mueller's investigation, closing in on two years now, has yet to find any material influence on the election.  None of the indictments support the narrative.  It's not difficult to find  illegal activity among the misfits that joined this administration.  The one exception (not a misfit) is Flynn, and they got him on perjury--he said something different than what they had on tape.  The Dems have wasted tons of political capital on the Russian narrative, and it's done more harm than good (IMO). 

 

Enough with the conspiracy, you eternal Trump lover.

 

BTW, the post above should be instructive for the knee-jerk newbies on this site.  

Edited September 18, 2018 by GG

[Tiberius]

9 minutes ago, TPS said:

A) If Trump is a Putin stooge, then why did he change his policy on Syria from his campaign statements that we should pull out, to actively seeking regime change?  

Syria is being supported by Russia, so wouldn't Putin push him to pull out if he's a stooge?

 

B) Sorry, I sometimes forget to come back to things.  Without looking, I can say, as I've said all along, that the Russia collusion story is utter BS, hatched by Podesta et al after the loss.  Mueller's investigation, closing in on two years now, has yet to find any material influence on the election.  None of the indictments support the narrative.  It's not difficult to find  illegal activity among the misfits that joined this administration.  The one exception (not a misfit) is Flynn, and they got him on perjury--he said something different than what they had on tape.  The Dems have wasted tons of political capital on the Russian narrative, and it's done more harm than good (IMO). 

A) I would assume that its as the secret writer to the times said, there are those working against the President's will on things like that. But to say we have done a lot in Syria anyway is a bit of a stretch. Russia is bombing away on those poor people and we are hardly doing anything. And perhaps there are limits to what they will ask for and do. So perhaps puppet is too strong a term. He has him compromised. 

 

B) I don't think you will be able to hold onto that conclusion for much longer. Mueller who is not leaking, has already stated (via his indictments) that the Russians were involved. You know that right? He indicted Russians for election interference. Manafort absolutely was connected to Russia in many ways and is now talking, so we will see where that goes but it sure doesn't support a "BS" conclusion. And I'm tired of re-posting all the other evidence 

[Deranged Rhino]

[Tiberius]

5 minutes ago, Deranged Rhino said:

[DC Tom]

https://www.amazon.com/Brain-Coat-Shielding-your-Mind/dp/B00K0PX1KG/ref=sr_1_5_a_it?ie=UTF8&qid=1537295899&sr=8-5&keywords=radiation+hats

[3rdnlng]

57 minutes ago, GG said:

 

Enough with the conspiracy, you eternal Trump lover.

 

BTW, the post above should be instructive for the knee-jerk newbies on this site.  

So that's what those newbies are jerking?

[B-Man]

BREAKING: The Justice Department has ordered key Chinese state media firms Xinhua and CGTN to register as foreign agents

 

https://www.wsj.com/articles/justice-department-has-ordered-key-chinese-state-media-firms-to-register-as-foreign-agents-1537296756?mod=searchresults&page=1&pos=1 … 

 

 

[/dev/null]

Remember when Republicans at least pretended to care about Fiscal restraint?

 

https://thehill.com/policy/finance/407218-senate-approves-854b-spending-bill

 

[B-Man]

56 minutes ago, /dev/null said:

Remember when Republicans at least pretended to care about Fiscal restraint?

 

https://thehill.com/policy/finance/407218-senate-approves-854b-spending-bill

 

 

 

Yep..........

 

up goes the spending..............especially in the congressional election year..............?

[Chef Jim]

4 hours ago, DC Tom said:

https://www.amazon.com/Brain-Coat-Shielding-your-Mind/dp/B00K0PX1KG/ref=sr_1_5_a_it?ie=UTF8&qid=1537295899&sr=8-5&keywords=radiation+hats

 

Wouldn't one need a brain to shield in order to make that a wise purchase?

[Deranged Rhino]

 

[Tiberius]

The great thing about the tariffs is that when the economy does go down the Democrats can say Trump's taxes killed growth, trade and jobs. It's an arrow in the quiver ready made for economic head winds sure to come. 

 

Is it true? 

[donbb]

3 minutes ago, Tiberius said:

The great thing about the tariffs is that when the economy does go down the Democrats can say Trump's taxes killed growth, trade and jobs. It's an arrow in the quiver ready made for economic head winds sure to come. 

 

Is it true? 

 

The stock market never has and never will have causation with the president.

[Nanker]

 

[IDBillzFan]

55 minutes ago, donbb said:

 

The stock market never has and never will have causation with the president.

 

Unless the president is a Democrat and the stock market is up. 

 

Then the president built that. 

[donbb]

40 minutes ago, LABillzFan said:

 

Unless the president is a Democrat and the stock market is up. 

 

Then the president built that. 

 

No

[DC Tom]

2 minutes ago, donbb said:

 

No

 

Of course not.  The House Minority Whip's Senior Clerk made it happen.