The Trump Economy

[TPS]

17 minutes ago, Tiberius said:

What's the deficit look like this year? 

The next Fiscal year or the end of this calendar year? 

Either way, it'll be around a trillion again.

 

[Tiberius]

12 minutes ago, TPS said:

The next Fiscal year or the end of this calendar year? 

Either way, it'll be around a trillion again.

 

That's a lot of government stimulus! 

[B-Man]

Here’s What the Tax Cuts Have Done for America in 2 Years

by Brad Wenstrup

 

Original Article

 

It’s been two years this month since Congress passed and President Donald Trump signed the Tax Cuts and Jobs Act, providing the first major tax reform since 1986. It was a historic overhaul that has delivered tangible benefits for our national economy. The tax cuts lowered our federal corporate income tax rate, which was hurting American job creators’ ability to compete on a global stage. Previously at 35%, the U.S. rate was one of the highest in the developed world.

 

 

 

 

.

[TPS]

15 minutes ago, Tiberius said:

That's a lot of government stimulus! 

Yes, but when the new spending is mainly directed at capital intensive defense contractors and the tax cuts mainly raise the disposable income for those who will save more than they spend, the impact on GDP is weaker.

[Greybeard]

On 12/14/2019 at 4:58 PM, TPS said:

I wouldn't call a decline in GDP growth from 6.7% to 6% an "economic downturn."  I'm not disagreeing about the timing of the announced deal, I'm simply saying it's more window dressing than the significant deal that Trump claims it is.  China has more leeway and time than you think.

        What's being debated here, Chinese reported numbers??    The Chinese work hard to make them less reliable than ours.

[row_33]

5 minutes ago, Greybeard said:

        What's being debated here, Chinese reported numbers??    The Chinese work hard to make them less reliable than ours.

 

TPS just takes a dump on everything to do with Trump

 

[Greybeard]

2 minutes ago, row_33 said:

 

TPS just takes a dump on everything to do with Trump

 

  I wasn't commenting so much on TPS as I was their debating reported Chinese numbers.  I find many of the US numbers hard to believe and I am suppose to believe Chinese numbers.?

      

[row_33]

2 minutes ago, Greybeard said:

  I wasn't commenting so much on TPS as I was their debating reported Chinese numbers.  I find many of the US numbers hard to believe and I am suppose to believe Chinese numbers.?

      

 

Liberals and the media took and take at full face value every report from Russia and China since 1919 and continue to do so, especially if it damages a GOP President.

 

TPS keeps on and on with stats, no credibility at all, it's just #orangemanbad

 

[TPS]

1 minute ago, row_33 said:

 

Liberals and the media took and take at full face value every report from Russia and China since 1919 and continue to do so, especially if it damages a GOP President.

 

TPS keeps on and on with stats, no credibility at all, it's just #orangemanbad

 

I would call you an idiot, but I don't want to hurt your feelings again.

[TPS]

39 minutes ago, Greybeard said:

  I wasn't commenting so much on TPS as I was their debating reported Chinese numbers.  I find many of the US numbers hard to believe and I am suppose to believe Chinese numbers.?

      

Maybe 6-7 years ago (or more) no one trusted their numbers, but I think it's better today.  China has been trying to open up its financial sector, so it has to be more transparent.  That doesn't mean they are completely, but I think the "proof" is in how global investors react to the numbers based on their belief in the  stats.  

 

[TPS]

23 hours ago, TPS said:

One data point isn't a trend but positive news this morning on China's growth.

https://www.wsj.com/articles/chinese-economic-activity-gets-a-lift-as-2019-comes-to-a-close-11576471966?mod=cx_picks&cx_navSource=cx_picks&cx_tag=contextual&cx_artPos=6#cxrecs_s

 

"A raft of supportive central government policies lifted China’s economic activity in November—bolstering factory production and consumer spending—which prompted some economists to raise their growth estimates for next year."

Then there's this to support @GG's point: https://www.bloomberg.com/news/articles/2019-12-16/defaults-in-one-of-china-s-richest-provinces-spook-investors

 

[Buffalo_Gal]

A little bit about the phase one China deal and how it will benefit US farmers.

Lighthizer: Phase one will be good for farmers 'across the board'
 

https://video.foxbusiness.com/v/6116444117001/

 

 

 

Edited December 17, 2019 by Buffalo_Gal

[GG]

1 hour ago, TPS said:

Then there's this to support @GG's point: https://www.bloomberg.com/news/articles/2019-12-16/defaults-in-one-of-china-s-richest-provinces-spook-investors

 

 

It's been a growing problem that the regime has never had to face before.  That's why they don't have as much flexibility as conventional wisdom may dictate.

[Buffalo_Gal]

 

 

 

 

 

 

[Buffalo_Gal]

China to lower import tariffs on frozen pork, avocados from January 1
 

China will lower tariffs on products ranging from frozen pork and avocado to some types of semiconductors next year as Beijing looks to boost imports amid a slowing economy and a trade war with the United States.
 

Next year, China will implement temporary import tariffs, which are lower than the most-favored-nation tariffs, on more than 850 products, the finance ministry said on Monday. That compared with 706 products that were taxed at temporary rates in 2019.
 

</snip>

[ALF]

Living in her car, she was afraid and harassed. Then she found an unexpected refuge

 

As an Uber driver, Lauren Kush tries to keep her Toyota Prius spotless.

But keeping it tidy serves a dual purpose. The 36-year-old woman is homeless and has been sleeping in her car at night, converting the back seat into a bed.

 

Kush started sleeping in her car when she could no longer afford an apartment in Los Angeles, where median rent for a one-bedroom is $2,350 per month. She's now among more than 16,000 people in LA County who live in their vehicles -- about a quarter of the nearly 60,000 homeless people here.

 

https://www.cnn.com/2019/12/23/us/homeless-living-in-vehicles-los-angeles/index.html

 

But the economy is so great and don't look at the budget deficit

[Nanker]

Wet blanket sob story. She should drive that Prius to a state that has less than $2,350 per month rentals. That, or learn to code. 

[ALF]

12 minutes ago, Nanker said:

Wet blanket sob story. She should drive that Prius to a state that has less than $2,350 per month rentals. That, or learn to code. 

 

I'm a 6 year vet and retired factory worker and consider myself very blessed but I have empathy for those less fortunate. 

 

Merry Christmas Nanker

[Nanker]

2 minutes ago, ALF said:

 

I'm a 6 year vet and retired factory worker and consider myself very blessed but I have empathy for those less fortunate. 

 

Merry Christmas Nanker

Thank you for your service ALF. But you seem to specialize in finding a dark circle around every rainbow. It’s tiring. 
Can I assume that you give generously to charities that assist the downtrodden and needy? You donate hundreds of hours a year to community projects that help protect and provide a better environment for your fellow citizens?

 

Or do you see that area as strictly the responsibility of our collective governments? Answer me this, why is it that “homelessness” is a problem we only hear about when a Republican is in the White House?

 

Merry Christmas to you too @ALF, and a Happy and Prosperous New Year for you and your family, and oh yes that Prius driver in Cali who can’t drive away from the high rent district. 

[SoCal Deek]

We’re literally at full employment in this country. Rents are set by market forces of supply and demand so I’m guessing someone is renting all of those expensive apartments! They aren’t vacant. Further, we have illegal aliens streaming across our border, immediately getting work, and somehow still having surplus money to send some home to Mexico each month. And...someone’s sleeping in their Prius? 

[John Adams]

1 hour ago, Nanker said:

Thank you for your service ALF. But you seem to specialize in finding a dark circle around every rainbow. It’s tiring. 

 

Nanker's PPP: A place where we remember to be thankful every day and full of optimism about how the last 20 years are the best time to be alive, especially in America.

[Teddy KGB]

1 hour ago, ALF said:

Living in her car, she was afraid and harassed. Then she found an unexpected refuge

 

As an Uber driver, Lauren Kush tries to keep her Toyota Prius spotless.

But keeping it tidy serves a dual purpose. The 36-year-old woman is homeless and has been sleeping in her car at night, converting the back seat into a bed.

 

Kush started sleeping in her car when she could no longer afford an apartment in Los Angeles, where median rent for a one-bedroom is $2,350 per month. She's now among more than 16,000 people in LA County who live in their vehicles -- about a quarter of the nearly 60,000 homeless people here.

 

https://www.cnn.com/2019/12/23/us/homeless-living-in-vehicles-los-angeles/index.html

 

But the economy is so great and don't look at the budget deficit

 

She should move to North Carolina and rent one of those 500.00 houses 

Just now, John Adams said:

 

Nanker's PPP: A place where we remember to be thankful every day and full of optimism about how the last 20 years are the best time to be alive, especially in America.

 

Pretending to care about other countries on the internet won’t get you laid. 

[John Adams]

18 minutes ago, Teddy KGB said:

 

Pretending to care about other countries on the internet won’t get you laid. 

 

My Idiot-to-English translator isn't working. I'll try again later. 

 

Moran.

[Teddy KGB]

18 minutes ago, John Adams said:

 

My Idiot-to-English translator isn't working. I'll try again later. 

 

Moran.

 

Nothing has worked since you were brought to tears by Katy Perry at that Hillary Clinton rally. 

 

Radicalized ! 

[Warren Zevon]

[/dev/null]

2 hours ago, ALF said:

Living in her car, she was afraid and harassed. Then she found an unexpected refuge

 

As an Uber driver, Lauren Kush tries to keep her Toyota Prius spotless.

But keeping it tidy serves a dual purpose. The 36-year-old woman is homeless and has been sleeping in her car at night, converting the back seat into a bed.

 

Kush started sleeping in her car when she could no longer afford an apartment in Los Angeles, where median rent for a one-bedroom is $2,350 per month. She's now among more than 16,000 people in LA County who live in their vehicles -- about a quarter of the nearly 60,000 homeless people here.

 

https://www.cnn.com/2019/12/23/us/homeless-living-in-vehicles-los-angeles/index.html

 

But the economy is so great and don't look at the budget deficit

Ever notice stories like this tend to involve Los Angeles and San Francisco?  Dont hear too many sob stories from Oklahoma or Utah

[Foxx]

1 hour ago, John Adams said:

 

Nanker's PPP: A place where we remember to be thankful every day and full of optimism about how the last 20 years are the best time to be alive, especially in America.

once again with absolutely nothing to contribute to the board.

 

2 hours ago, ALF said:

 

I'm a 6 year vet and retired factory worker and consider myself very blessed but I have empathy for those less fortunate. 

 

Merry Christmas Nanker

empathy for the less fortunate is one thing, giving someone a pass for idiocy is an altogether different matter. if there is no water in the desert, do you stay and try to grow crops there, or would it be somewhat wiser to move to where there might be fertile land? 

Edited December 24, 2019 by Foxx

[/dev/null]

19 minutes ago, Foxx said:

 

empathy for the less fortunate is one thing, giving someone a pass for idiocy is an altogether different matter. if there is no water in the desert, do you stay and try to grow crops there, or would it be somewhat wiser to move to where there might be fertile land? 

How about sending a child on a guilt trip tour of neighboring lands

[GG]

3 hours ago, ALF said:

Living in her car, she was afraid and harassed. Then she found an unexpected refuge

 

As an Uber driver, Lauren Kush tries to keep her Toyota Prius spotless.

But keeping it tidy serves a dual purpose. The 36-year-old woman is homeless and has been sleeping in her car at night, converting the back seat into a bed.

 

Kush started sleeping in her car when she could no longer afford an apartment in Los Angeles, where median rent for a one-bedroom is $2,350 per month. She's now among more than 16,000 people in LA County who live in their vehicles -- about a quarter of the nearly 60,000 homeless people here.

 

https://www.cnn.com/2019/12/23/us/homeless-living-in-vehicles-los-angeles/index.html

 

But the economy is so great and don't look at the budget deficit

 

This story has very little to do with the national economy and the exploding debt.

[John Adams]

55 minutes ago, Foxx said:

once again with absolutely nothing to contribute to the board.

 

 

 

DR will be here to thumbs up your stellar contribution any moment. 

[3rdnlng]

Settle down and be nice to each other people. The answers are right in front of our faces.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What would Greta do?

 

[Foxx]

21 minutes ago, John Adams said:

 

DR will be here to thumbs up your stellar contribution any moment. 

be better. you do have it within you.

 

also, Merry Christmas. i hope you and yours enjoy all the festiveness that this time of year affords.

[John Adams]

1 minute ago, Foxx said:

be better. you do have it within you.

 

Thanks for standing in judgment of me. And note: Your judgment means nothing to me.

 

So blow me.

 

1 minute ago, Foxx said:

 

also, Merry Christmas. i hope you and yours enjoy all the festiveness that this time of year affords.

 

Merry Christmas to you too Foxx. We will be celebrating Jolabokaflod tonight and rocking around the in-laws tree tomorrow! 

[Nanker]

1 hour ago, GG said:

 

This story has very little to do with the national economy and the exploding debt.

However, I guess we should expect these Dickensian tales at this time of year. You know Bob Cratchit, Tiny Tim, Scrooge and all... including The Ghost of Trump Past, Present, and Future. 

[3rdnlng]

50 minutes ago, John Adams said:

 

 

 

So blow me.

 

 

 

That flows so easily off your tongue. Why didn't you just come right out and suggest a Christmas exchange?

[bbb]

6 hours ago, ALF said:

Living in her car, she was afraid and harassed. Then she found an unexpected refuge

 

As an Uber driver, Lauren Kush tries to keep her Toyota Prius spotless.

But keeping it tidy serves a dual purpose. The 36-year-old woman is homeless and has been sleeping in her car at night, converting the back seat into a bed.

 

Kush started sleeping in her car when she could no longer afford an apartment in Los Angeles, where median rent for a one-bedroom is $2,350 per month. She's now among more than 16,000 people in LA County who live in their vehicles -- about a quarter of the nearly 60,000 homeless people here.

 

https://www.cnn.com/2019/12/23/us/homeless-living-in-vehicles-los-angeles/index.html

 

But the economy is so great and don't look at the budget deficit

 

Lauren Kush = The economy?  

6 hours ago, Nanker said:

Wet blanket sob story. She should drive that Prius to a state that has less than $2,350 per month rentals. That, or learn to code. 

 

Turns out there was more to the story that ALF left off, including the fact that she IS learning how to code:

 

https://www.cnn.com/2019/12/23/us/homeless-living-in-vehicles-los-angeles/index.html  

[Foxx]

Corporations Brought Back $1 Trillion From Overseas Due to Trump Tax Plan

For decades before President Donald Trump’s tax plan took effect, U.S. corporations with foreign subsidiaries had no (sane economic) choice but to keep their overseas profits abroad. After all, they’d face double taxation if they wanted to bring them home. Their profits were already taxed by the foreign country they’re operating in, and then to repatriate those funds would’ve required them to pay the U.S. corporate tax rate, which was then among the highest in the world. By year end 2017, right before Trump signed his Tax Cuts and Jobs Act (TCJA), upwards of $2.5 trillion in cash was parked overseas.

 

The TCJA reduced the corporate tax rate from 35% to 21%, but offered extra incentives to repatriate cash. After all, we’d rather have that money in America for economic reasons regardless of how much the government can get their hands on. The Trump tax law allowed corporations to repatriate cash at a discounted 15.5% tax rate, and a reduced 8% rate to repatriate other assets that are non-cash or illiquid.

 

While estimates differ on how much cash was parked overseas pre-TCJA, between 40% and 66% has made its way back to America. ...

 

[Magox]

On 12/25/2019 at 8:34 AM, Foxx said:

Corporations Brought Back $1 Trillion From Overseas Due to Trump Tax Plan

For decades before President Donald Trump’s tax plan took effect, U.S. corporations with foreign subsidiaries had no (sane economic) choice but to keep their overseas profits abroad. After all, they’d face double taxation if they wanted to bring them home. Their profits were already taxed by the foreign country they’re operating in, and then to repatriate those funds would’ve required them to pay the U.S. corporate tax rate, which was then among the highest in the world. By year end 2017, right before Trump signed his Tax Cuts and Jobs Act (TCJA), upwards of $2.5 trillion in cash was parked overseas.

 

The TCJA reduced the corporate tax rate from 35% to 21%, but offered extra incentives to repatriate cash. After all, we’d rather have that money in America for economic reasons regardless of how much the government can get their hands on. The Trump tax law allowed corporations to repatriate cash at a discounted 15.5% tax rate, and a reduced 8% rate to repatriate other assets that are non-cash or illiquid.

 

While estimates differ on how much cash was parked overseas pre-TCJA, between 40% and 66% has made its way back to America. ...

 

This, unsurprisingly has been an underreported intended effect of the tax cut law.  This is  trillion dollars of potential stimulus, money that wouldn’t have come back to the US without some incentive to do so.   I’m sure most of it hasn’t been applied in a manner that has been stimulative but certainly some of it has.   Not to mention the revenues that it created at the 15.5% that it generated.

 

This is why I believe that those who believed that the tax law would just be a short-lived sugar high as Krugman and Zandi have claimed have it all wrong.   The tax cut is an ongoing form of stimuli and just because a company in year one or two have decided to not implement xyz measures that promote growth for their company and the economy doesn’t necessarily mean they won’t do so In the future.

 

The economic numbers continue to confound many economists.   Why?  Because they are too dogmatic with their views and cannot wrap their heads around why targeted tax cuts, smart deregulatory measures, policies that promote people to work as opposed to living off of safety net measures in perpetuity and a pro business agenda actually are contributing to a these cascading effects that we are witnessing.

[leh-nerd skin-erd]

On 12/24/2019 at 9:54 AM, Foxx said:

once again with absolutely nothing to contribute to the board.

 

empathy for the less fortunate is one thing, giving someone a pass for idiocy is an altogether different matter. if there is no water in the desert, do you stay and try to grow crops there, or would it be somewhat wiser to move to where there might be fertile land? 

Everything I ever needed to know I learned from Sam Kinison. 

 

[Foxx]

54 minutes ago, leh-nerd skin-erd said:

Everything I ever needed to know I learned from Sam Kinison. 

 

exactly! loved Sam.