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Treasury Secretary explains Trump Tax Plan
#1
[Image: ?url=https%3A%2F%2Fstatic.politico.com%2...2Ftoon.jpg]
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#2
Hah, hah, hah. This from your bunch who doubled the National debt in just eight years.
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#3
and now for some actual information rather than 'toons

https://www.investors.com/politics/edito...is-coming/

Quote:China And Europe See What U.S. Critics Don't: A U.S. Tax-Cut Boom Is Coming

Tax Cuts: While anti-tax cut critics in the U.S. like to say the coming tax reform won't do much for the U.S. economy, China and the major European countries are all bracing for impact. They know the tax-cutting, deregulating U.S. could be about to leave them behind.

The typical response in the U.S. from Democrats and the far-left progressive wing of that party has been dismissive of tax cuts' effect on growth. The headline on a November USA Today column by former Obama administration economic advisor Jared Bernstein pretty much sums up the left's sour attitude: "GOP tax plan won't 'unleash' economic growth. It'll make things worse."
Got that? Make things worse.

Funny, because none of our largest global competitors seem to feel that way.

Indeed, China is in what could be described as a minor panic over U.S. tax reform. Why? China's high taxes, extreme regulations, high debt and shaky currency make it vulnerable to the $1.5 trillion tax cut that President Trump and congressional Republicans are about to unleash.
Specifically, China fears that hundreds of billions if not trillions of dollars of accumulated trade surpluses will flee the Middle Kingdom's shores to return to the U.S. to be reinvested here as the American economy takes off.

That would not only weaken China's currency, the yuan, but force China's central bankers to jack up interest rates and impose capital controls to protect it and keep inflation from ravaging the economy.
As the Wall Street Journal's Lingling Wei has reported, "What they fear is a double whammy sapping money out of China by making the U.S. a more attractive place to invest."

For the Chinese, it's so serious they're actually talking about tax reform themselves. That's right — a communist nation with sky-high taxes talking about tax reform.

Then there's the Europeans. Finance ministers from five European nations, including Britain, France, Germany, Spain and Italy last week sent a letter to U.S. Treasury Secretary Steve Mnuchin warning that provisions of the tax deal could be seen as providing unfair protection for U.S. companies vs. European ones.
"The letter highlights concerns in Europe that the Trump administration will use tax reform as a route to promote 'America first' trade discrimination, escalating tensions that have already risen in other policy areas like the environment and Middle East peace," noted the Financial Times.

But underlying the trade issue is a more real concern: Once the U.S. cuts tax rates, especially on its corporations, there will be a yuuuge new incentive to invest in the U.S. Europe, which seems stuck in stagnation and whose low-fertility welfare state becomes more burdensome by the year, could see an investment exodus as companies return operations to the U.S.

And that doesn't include the estimated $2.5 trillion in U.S. overseas corporate earnings that are now parked in European accounts because U.S. corporate taxes are so high. Once those taxes are slashed, economists say there will be a flood of repatriated capital hitting the U.S.

It will cause a major monetary and fiscal headache for European Union economic officials. They also don't like that the new tax law would "discriminate in a manner that would be at odds with international rules."

But, in fact, they use their own rules often to punish U.S. firms — such as the spurious antitrust prosecutions and multibillion dollar fines they've pursued to hamstring U.S. tech giants such as Apple, Google and Microsoft, in European markets.
The truth is, most reputable economic analyses of the tax reform come to a similar conclusion: It should raise economic growth by somewhere between 0.5% and 1% a year. Just this week, the Federal Reserve Board boosted its estimate of 2018 GDP growth from its September estimate of 2.1% to 2.5%, largely due to tax reform.

"My colleagues and I are in line with the general expectation among most economists that the type of tax changes that are likely to be enacted would tend to provide some modest lift to GDP growth in the coming years," Yellen said at her final news conference as the Fed's leader.

The Obama years of heavy regulation and a lopsided tax code that punished entrepreneurs and small businesses led to sluggish 2% growth. Thanks to tax reform, the U.S. soon may enter a 3% growth phase, one that will be the envy of all our main competitors.
Don't believe it? Just read what they're saying.


So Aqua, get out of your left/liberal bubble and read what the rest of the world is saying.

https://www.ft.com/content/933c27b4-eaee...1324c81e23

Quote:Barclays and Shell warn of billion-dollar hits from Trump tax reform
European groups say they expect to take hefty charges in fourth-quarter results

Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.

https://www.ft.com/content/933c27b4-eaee...1324c81e23


Some of Europe’s biggest companies have warned investors to expect a multibillion-dollar hit from US president Donald Trump’s tax reform, which will reduce their ability to deduct past losses against future tax bills. Both Shell and Barclays said that while they were likely to to benefit over time from the reduction in the US corporate tax rate from 35 per cent to 21 per cent, they expected to take hefty non-cash charges in their fourth-quarter results. Shell announced on Wednesday that it expected to take a $2bn-$2.5bn charge against the accounting value of its “deferred tax assets” in response to a sweeping overhaul of the US tax system that was signed into law by Mr Trump last week. Barclays said it expected to record a £1bn charge in its 2017 results that would dent its capital position and could damp shareholders’ hopes that the bank would soon announce a sizeable increase in its full-year dividend. The warning from Barclays came a few days after Credit Suisse said it expected the US tax changes to trigger a SFr2.3bn ($2.3bn) writedown in its fourth-quarter results that would risk dragging the Swiss bank to its third consecutive annual loss. Its Swiss rival UBS has already estimated that it faces a SFr3bn hit from the US tax rewrite. Under previous tax laws some of the biggest names in corporate America have been able to cut their tax bills significantly by using past losses to offset future profits. However, the Republican-led legislation to cut the corporate tax rate has forced the institutions to reassess the accounting value of their deferred tax assets. The biggest impact is on five of the US financial institutions that endured huge losses in the financial crisis — Bank of America, Citigroup, AIG and mortgage groups Fannie Mae and Freddie Mac — which will be forced to take writedowns totalling almost $50bn.

This is the Financial Times: Probably the most authoritative financial news outlet in the world

and now Der Spiegel, before the tax cuts were finally introduced:

Quote:http://www.spiegel.de/international/worl...82383.html

U.S. EconomyTrump Tax Plan Worries Europe

Trump is hoping that his tax reform will make the United States a more attractive place to do business. Germany and the rest of Europe, though, could emerge as the losers.

The world is witnessing a great economic experiment. The United States, the world's most important economy, is transforming itself from a high-tax country to a low-tax paradise. Currently, most companies have to hand over 40 percent of their profits to the taxman, more than any other developed economy. In Germany, it's 30 percent.

However, these burdens are now about to be drastically reduced. U.S. President Donald Trump wants to reduce the federal corporate tax rate from 35 to 20 percent. The Senate and the House of Representatives are likely to quickly reach agreement on the bill's final form.

The corporate tax system in the U.S. is indeed in terrible shape as it currently stands and it encourages the shifting profits outside the country. As such, no government should be criticized for trying to do something about it. One can, however, expect little from Trump's tax plan. The reform is supposed to save taxpayers around $1.5 trillion over the next 10 years, particularly those in the highest income brackets. The fact that the measure is essentially a massive transfer of wealth from the poor to the rich is a domestic problem for the U.S. And something that the American political class will have to answer for.

This is European political elite sulking because the Amricans aren't copying their oppressive/socialist EU model anymore and they know they will suffer at home.

Thanks for playing.

What now? Another cartoon? ;-)
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#4
(12-28-2017, 03:18 PM)doubletroublejim Wrote: Hah, hah, hah. This from your bunch who doubled the National debt in just eight years.

We shall see if your bunch can double it in 4 years. Tongue Tongue Tongue Tongue 

Good luck with that "post card" size tax form next year.

[Image: taxtoon13.jpg]

[Image: xgop-tax-plan.jpg]
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#5
Over trillion dollar deficits every year for 4 years straight no one bats a eye. Adding $1 trillion over 10 years every lib is now a deficit hawk.

There is never any intention on paying our debt back. It's a joke.
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#6
(12-29-2017, 07:04 PM)StingingNettle Wrote: Over trillion dollar deficits every year for 4 years straight no one bats a eye.  Adding $1 trillion over 10 years every lib is now a deficit hawk.  

There is never any intention on paying our debt back.  It's a joke.

If it weren't for double standards libtards would have no standards at all.
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#7
100% SN

Fact is they've got no answer to Trump

and what's this???? His approval rating is improving as Americans get used to his (awful) style and suddenly realize what the game plan is:

[Image: fs7odxd7c02ywvj9x_kzfa.png]
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#8
(12-30-2017, 09:06 PM)andrew_o Wrote: 100% SN

Fact is they've got no answer to Trump

and what's this???? His approval rating is improving as Americans get used to his (awful) style and suddenly realize what the game plan is:

[Image: fs7odxd7c02ywvj9x_kzfa.png]

A few takeaways from this chart:

The Donald is one of the FEW things Americans didn't like in late 1999.

Moving on to 2001, only Osama bin Laden had higher unfavorables.

These are consistently terrible ratings. It's like he's been in syndication for damn near 20 years.

But he was highly popular in 2006. Ok, housing boom peak! Got it!

I mean, wow, this must be how you fail your way to the top!

... staring at this chart way too long.

Trying to find a wave count...

His unfavorability crashed once it hit 62%. Prechter probably would have something to say about that...

His percentages went Full VIX the last few months.

And, is this the Face Turn we have been waiting for? #taxcutjesus

Unfavorables in 3 of 5 down.  

Finally, Trump went Super Nova LAST YEAR. Bitcoin went Super Nova THIS Year.  Is 2018 the year that Trump and Bitcoin reach Supernova Singularity?

Over/under on a Trump Crypto Currency being used to pay off the national debt????



da bear

#muricoin
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#9
(12-29-2017, 07:53 PM)doubletroublejim Wrote:
(12-29-2017, 07:04 PM)StingingNettle Wrote: Over trillion dollar deficits every year for 4 years straight no one bats a eye.  Adding $1 trillion over 10 years every lib is now a deficit hawk.  

There is never any intention on paying our debt back.  It's a joke.

If it weren't for double standards libtards would have no standards at all.

[Image: BillDonaldBros2.jpg=s750x1300]
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#10
Southwest and American Airlines Announce Employee Bonuses After Tax Reform Passage


Quote:Southwest and American Airlines separately announced on Tuesday that they would be rewarding their employees with a $1,000 bonus as a result of the passage of the GOP tax bill.
Both Southwest and American Airlines announced bonuses for their employees on Tuesday in response to the passage of the GOP tax bill. Southwest announced that all employees who were with the company as of December 31, 2017, will receive a $1,000 bonus on January 8, 2018. The American Airlines bonuses will total approximately $130 million.
“We applaud Congress and the president for taking this action to pass legislation, which will result in meaningful corporate income tax reform for the transportation sector in general, and for Southwest Airlines, in particular,” Southwest’s CEO Gary Kelly said in a statement. “We are excited about the savings and additional capital, which we intend to put to work in several forms — to reward our hard-working employees, to reinvest in our business, to reward our shareholders, and to keep our costs and fares low for our customers.”
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