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Trump celebrates after Congress wraps up massive tax package

122 Comments
By STEPHEN OHLEMACHER and MARCY GORDON

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This tax bill will benefit Trump and his fellow wealthy baby boomers. Gen X and Y? Stiffed.

Is Trump going to release his tax info? Curious to see how this benefits him personally. Same with the GOP members of Congress.

15 ( +17 / -2 )

The GOP has repeatedly argued the bill will spur economic growth as corporations, flush with cash, increase wages and hire more workers

This is nonsense and has been debunked by leading economists on both sides of the political fence... the average american workers wage is no higher than the 1970's after inflation and the massive move to part time and casual work over the last 40 years. The last thing companies want to do it increase their cost base by increasing wages especially when many companies are competing with low cost overseas producers...voodoo economics at its best (or worst)....

15 ( +16 / -1 )

Dear Senator Collins,

Still think you didn’t get played? Or is that a sexist question to ask?

This is the biggest single fraud perpetrated upon average Americans since the Russians helped elect that self-confessed misogynist and congenital liar called Donald Trump.

14 ( +18 / -4 )

The Mercers and the Kochs should be in that photo. Front and center.

The GOP has repeatedly argued the bill will spur economic growth as corporations, flush with cash, increase wages and hire more workers.

Corporate America has no such intention.

11 ( +12 / -1 )

Why is Mueller just twiddling his thumbs while Trump rages on like a bull in a China shop with his agenda?

What makes you think he is twiddling his thumbs? He's already produced results.

10 ( +11 / -1 )

instead of fake news, this is sick news.

10 ( +12 / -2 )

Well, it will be good for the economy in the short term. And the Republicans must be banking on the Democrats being in power when the consequences are felt, so they can blame the democrats.

Just like when they rung up two wars on the credit card and blamed Obama when the bills arrived.

Republicans: The fiscally conservative opposition.

9 ( +10 / -1 )

Tax bill written for Trump and his buddies.Dont think his base has read into the details it probaly beyond them.

8 ( +9 / -1 )

 you'll understand then that the money is better kept out of the governments coffers, right?

You do realize that government spending is going up, right?

Math and economics are not susceptible to hyperbole or wishful thinking.

8 ( +8 / -0 )

@loggeddiin

Oh, so cutting the tax rate for large businesses and already rich generally results in these people investing in their companies, opening new factories creating new, well-paying jobs and making society better as a whole.

What have you been watching and reading these last 3 decades?

7 ( +8 / -1 )

Tokyo-engr -

AT&T giving bonuses and expanding in the US

That has to be the most egregious examples of a US company sucking up to the government that I've yet seen in my 52 years. And it is a horrific sign. Goes like this:

the telecommunications business is both highly regulated and prone to mergers requiring FCC approval;

the current White House occupant is susceptible to slavish praise.

The result is that companies are learning how to play this new game. It's not that they'll make any different decisions than they would have otherwise (for example, the trend of companies raising their own minimum wage has existed for since the Obama recovery began), it's that while doing so they'll attempt to extract the maximum amount of political leverage.

That is, this is simply another sign of Trump's America converging with Putin's Russia.

7 ( +7 / -0 )

Tax bill written for Trump and his buddies.Dont think his base has read into the details it probaly beyond them

You can drop the probably.

6 ( +8 / -2 )

When has a president ever accomplished so many campaign promises so soon?

nobody,not even the rain,has such small hands

e.e. cummings

6 ( +7 / -1 )

Trump saying "Obamacare has been repealed in this bill" just shows how poorly informed - and callous - he is.

All that's changed is the penalty for not having the tax has been abolished. Several major items remain on the insurer side - particularly protections for those with pre-existing conditions and the requirement that insurers provide comprehensive coverage - and on the government side, particularly subsidies to reduce premiums of low- and moderate-income consumers and the expansion of Medicaid to low-income adults.

Insurers will respond by jacking up rates - but subsidies will prevent lower income people while increasing the burden on the government. It is the middle-class - those who do not receive subsidies - who will be hurt; their subsidy increases may swallow the entirety of their tax cut.

Worse is to come. Insurers may find the individual market not worth the trouble and simply pull out. I see several states completely bereft of insurers within a few years - that is, those who don't get insurance through their employers are SOL.

Let's see Trump and the GOP run on that.

5 ( +5 / -0 )

The GOP has repeatedly argued the bill will spur economic growth as corporations, flush with cash, increase wages and hire more workers.

Everyone knows that corporations will first and foremost pay their executives. Secondly, there may be a dividend distribution to increase the market price of the companies. Why? because that is a number driving executive compensation.

Shareholders will use the money primarily to reinvest, which means someone will make a gain, which will be reinvested, which eventually will result in an overpriced stock and bubble to crash losing the value for late buyers. One potential bright spot will be the lack of regulations allowing a bubble to persist much longer before it bursts. Already, the sub-prime auto loan industry has continued unabated because of a lack of regulation and oversight.

Increasing wages and hiring more? Corporations only do that if there is a business reason for doing so, and a tax cut will do little to change business reasons. Especially since most of that money will be paid to executives and shareholders. In addition, a business reason would have already justified obtaining the capital or debt financing for salaries of hiring.

Now we get to listen to Trump's hyperbole. The largest tax cut in history??? No.

Plain and simple, it is just the most recent give away to the rich.

5 ( +6 / -1 )

I get so tired about liberals demonizing conservative rich people and giving their rich affluent liberal counterparts a total pass.

I get tired of the whole idea that the government is holding you back.

You will always have inequality, always and this stupid idea of income redistribution or income restorative justice will never work,

In this case, Thomas Piketty is more on point than Anne Rand.

Picketty is just too inconvenient to the dogma needed to support the GoP's positions.

5 ( +5 / -0 )

Working on the floor of a manufacturing Factory. Lets take a Company like 3M.

They manufacture a large range of produce. The most effective way of profit making is a production lines. Where you have, let say 12 numbers (actual people but companies prefer to use business jargon) on a producing line each doing a mundane brain numbing repetitive labour, like, materials loaders. button pusher,s sorters and box people After each shift the overseer advice you that your numbers are down and you have work extra to make up the sort fall without pay. These Company take advantage of the Japanese culture of shame and pride and use it to make more profits. I am talking about Japan a powerhouse economy which ignores the labours they passed to law.

Labour Laws the Japanese Government agree with other countries to pass so the can trade with like many EU countries. If those law were not pass Japan exports into the EU would fine it hard get approval from most EU member. You have to agree to the play by the same rules or don't play.

I can not see any American worker agreeing to work the extra hours to make up the numbers for no extra pay. Company like 3M will not move produce back to USA. They got out of the USA labour market because they can make more profit. Not because they would go under or bankrupt. They just make 15% to 20% margin when base in the USA, instead of 30% to 50% margin base in China, Japan or Asia .

If a Company decide to take up Trump Tax cut. You then have to get the workers of low education who will put up their hand and do this sort of work until they are replace by robotic in 5 to 10 years time. Good luck I say.

That why Company will not respond to Trumps Tax. I also see the Demo getting control of all the political power. Senate, Congress and the White house in 3 years time. Who will then find new taxes to restore the company tax back to 30%. They won't stuff around repealing the news Tax scale. They won't get any doners. during the next election if went to the people with that reform.

This will only see other currency fall again the USA. Which is great for Country which relay on Exports.

5 ( +5 / -0 )

I want proof of what I was promised. That Donald Trump himself conspired, colluded, coordinated, whatever in a direct and treasonous manner with Russia to illegitimately become President.

Off-topic. Wait a bit and you'll see Trump faced with dilemma of pardoning his son-in-law before he is forced to tell all he knows or breaking up the justice department.

I also want proof that only rich people getting tax breaks per Chuckie Schumer.

Everyone gets tax breaks! It's like Christmas! - except one when your parents say they get to keep their (valuable) presents but you have to return your (piddling) ones. And also that you have to provide for your own school lunches from now on because your parents' gifts to each other zeroed their savings.

5 ( +5 / -0 )

Quoth the right-wing: "MOAR ROPE!!!"

Happy 2018 everyone!

5 ( +5 / -0 )

Well, that was one big extended fabrication.

Dozens of posters have given links, citations, quotes and evidence on these "fabrications" dozens of times. The racism, incitement to violence and admitting sexual assault have all been recorded on the news for the whole world to see. His lies are exposed again and again. The tax cuts are clearly favoring the rich over the poor and as for the treachery and corruption; we'll see the truth out eventually. One can claim it's all fabricated and fake but only if one is not paying attention to news & current affairs over the last year or so.

Be very careful what you wish for. Didn’t go so well for you guys last time.

I literally have no idea what you're getting at. I'm not you guys, I'm not liberals, I'm not leftists and I'm not American.

I wish for a world free from those who would put it in jeopardy, a world free from unhinged leaders with shady agendas. Be it Trump, Kim or anyone else of that ilk.

5 ( +5 / -0 )

Then the billions of dollars spent on welfare to pay people to NOT work wouldn’t be necessary.

You must be talking about farm subsidies. It's hillarious that cons repeat this falsehood constantly. The government does not pay anyone, Except farmers, not to work. It provides a safety net for those that need it. Of course, there are some that abuse the system, but nowhere as many as cons would have everyone believe.

That money couid be spent on increases wages, job creation and job training/retraining.

So the government should be spending money to increase wages? I thought that was the responsibility of corporations. The government already provides money in the form of "welfare" for job training/retraining.

Last I read there are still 90 million+ people not working in the USA. 

You may want to do a little more research. Let me help you understand those numbers a bit:

"44.1 million are retired. 

15.3 million are disabled. 

14.7 million are in college or job training. 

12.9 million are taking care of a family member.

So, of the 94.6 million Americans not working, 86.8 million are retired, disabled, taking care of a loved one, or in school."

Only 7.6 million working aged people are not working. Details are important.

5 ( +5 / -0 )

this time, I didn’t work, Armageddon didn’t come, the sun rose and we’re all still here.

Yes, because we all know the effects of legislation occur overnight.

4 ( +5 / -1 )

but what you guys fail to realize, the more you penalize and punish them, the less investments you will have into the economy, the stock market, payroll, growth, incentives, the people that create jobs

That why the economy is roaring along and employment is high under the current tax regime?

What crazy, clearly corrupt kleptocratic cons fail to realize is their arguments are weak when compared to reality and contradictory. Kuddos! ROFL. 1000 legislative seats lost. This economic theory works despite all evidence pointing to it not.

4 ( +6 / -2 )

Just ask the people in Wisconsin, Michigan, Pennsylvania what they think.

Why, when we can cut to the source and just tune into Fox. People don't commonly understand economics. They are passive consumers of easily digestible information fed to them by the loudest and most bombastic speaker.

That's just one opinion, I’ll trade you 4 for Piketty.

Opinions that try to counter Piketty are weak, like all the other rationale echoing out of Fox news and Breitbart.

4 ( +4 / -0 )

Time and thoughtful deliberation is not your friend when you are pulling a fast one on millions of Americans.

I was appalled at the glib answers by Ryan, et al, with their prognostication. We know they are lying. They know they are lying. It's just grand, when our elected officials, play us for fools.

4 ( +4 / -0 )

Let me put this as simply as possible so as not to confuse: The economy is doing extremely well under the current tax regime, so there was no need for tax reform that will add $1 trillion to the debt.

4 ( +5 / -1 )

Free advice: If you live and work in the US, incorporate yourself. You'll only have to pay 20% tax as long as you leave the majority of the assets within the corporation. Buy a huge house and call it your headquarters. Invest tax-free through your corporation. Expense everything. Trump has been doing this for years, but there is now greater incentive to do so.

The best thing is, no taxes are due until you cash out - which, if you do so upon your death to bequeath to your offspring, is now tax-free! Ka-ching!

Tax attorneys are gonna love this gambit. And that trillion-dollar deficit is going to skyrocket further.

4 ( +4 / -0 )

It amazes me that people keep buying into this crap that the rich people who rule them impose, to make themselves richer. Oh yeah of course it's all being done for the poorer peoples benefit, sure!

4 ( +4 / -0 )

I want proof of what I was promised.

You were promised nothing dear. Pinning something on poor Donald?

Well, let's hope there isn't a stained dress in his future since that is all the GoP needs to raise their hackles.

Obstruction seems clear to me at this point, and I am waiting for the next shoe/plea deal to drop.

4 ( +4 / -0 )

Crazy, clearly corrupt kleptocratic cons sure are angry even though they control the executive and legislative branches and just added a trillion to the national debt . . . I mean got tax reform.

It's funny how they degrade the Dems for taxing and spending when all they do is spend without increasing the government income.

4 ( +5 / -1 )

Now we simply see how people feel about Dem obstructing this when they start getting more money in their pockets

and they see that debt clock accelerate because of the extra trillion the fiscal cons added to the debt.

The Trump economy has been great doesn’t mean it can’t be even better now that we have tax reform

This doesn't answer my question of why tax reform was needed.

4 ( +5 / -1 )

Expect more big companies to annouce token raises to get people on board with them getting a majority of the tax breaks. It's in their best interests to get the working class to support trickle down.

After the headlines have faded we will find a vast majority going to stock buybacks. Companies work for their shareholders, not the middle class. In the end it would be better to give the money directly to the people and not their bosses.

4 ( +4 / -0 )

Since Trump said he does not pay taxes because he is "smart," how can he claim this legislation hurts him??

4 ( +4 / -0 )

@bBush Trump rages on like a bull in a China shop with his agenda?

Spoken like a true Bannon-ite. The Trumpbannon-bull, aided by a GOP Congress financed by the most powerful corporations, is smashing US systems that could limit the power of the executive. The republic is being broken and is being replaced by: (choose one) Corporatocracy? Plutocracy? Oligarchy? Kleptocracy?

Dystopia Now! The cry of Bannon-ites.

3 ( +4 / -1 )

this stupid idea of income redistribution or income restorative justice will never work, the Dems tried it 

When? This is the question that crazy, clearly corrupt kleptocratic cons never answer.

3 ( +4 / -1 )

Just ask the people in Wisconsin, Michigan, Pennsylvania what they think

Lets ask the people in California. Then, we can ask the people in Kansas how well tax cuts work to stimulate the economy.

The idea that any entity will stop making money, or as much money as possible because they cannot keep it all is asinine. These people aren't five-year-olds.

If I can't have it all, I don't want any. These words have never been uttered in relation to money.

3 ( +4 / -1 )

The problem with this tax bill is that trump doesn't know what's in it,which is why he can talk it up as for the middle class when everyone else knows it's for the rich and the filthy rich.The gop are so smug about passing this bill it's laughable.... unless you're not rich.

3 ( +3 / -0 )

Another in a long string of wins for the President.

When has a president ever accomplished so many campaign promises so soon?

A president can accomplish a lot when the congressional majority is as corrupt as him and answers to the same donors. He's even "accomplishing" things he didn't promise, like repealing net neutrality and selling our national monuments to mine uranium.

Yup, no doubt and the Dems are ahowling as usual and this time, I didn’t work, Armageddon didn’t come, the sun rose and we’re all still here.

It's worse than we thought, but Trump and the Republicans expect to be out of power when the s*** they're crapping out really hits the fan. Then they'll blame the Dems, and you'll believe them.

3 ( +3 / -0 )

He might well celebrate. Him and Kushner could save almost $30 million a year from this little scam. Not satisfied with fleecing the American public & basically selling influence at his posh Florida resort, he's now passing laws to make him and his chums wealthier. Sadly this kind of kleptocracy is just routine now to most voters.

3 ( +3 / -0 )

if  all those super wealthy liberals like Soro's, Steyer, the Obama's and Clinton's, and all the mega-rich robber barons of the Left at Google, IBM, Apple, etc. actually wrote a check to the federal government for the amount of money that they say is their "fair share" instead of paying their tax attorneys and accountants handsomely to find loop holes and maximize deductions people might actually believe they are as virtuous as they pretend to be.

Yes - lump in all the Trumps and Bushes and you're probably right. The difference is that the former wanted to do something about this, but the latter just wanted to make it worse. Ironically, if tax simplification had been the GOP's (laudable) goal, they would have found partners with the Dems and could have spent the required amount of time and attention to properly reform the system. But greed and a boatload of baubles their constituents demanded got in their way.

This law simply exacerbates US tax complexity. There is a reason people call it the best Christmas gift for tax attorneys ever.

3 ( +3 / -0 )

Well actually the economy starting "roaring" at about the time Trump was elected. During Obama's presidency GDP never exceeded 3%

The current tax regime was in place when Trump took office, so you didn't answer my question. If the economy is doing so well now, was there a need for tax reform?

3 ( +4 / -1 )

Now how on Earth would you know I watch Hannity? Are you looking over my shoulder?

Hannity one of the few people at Fox still spouting about uranium one after Shep Smith buried the rest of Fox News with . . . reporting facts. Since you are still spouting that drivel, you must be listening to Hannity. Or has your whatabout run dry and you are going back to the well hoping someone will not know the difference.

Yup, but if you think there’s “no there, there” with her, then there’s “no there, there” with Trump either.

There is certainly a proven and reluctantly admitted willingness to collude by the Trump team. That is not a crime itself, but the investigation is just getting to the point where it is getting real bad for your team. You can tell that things are getting bad for your team when lawyers start complaining about access to 30,000 emails and claiming a privilege that doesn't exist.

3 ( +3 / -0 )

Just saw the first rich liberal on twitter complaining her taxes went up now.

Nice epithets. Maybe you have a star she should wear so all the pubs will know she is a rich liberal who has something different to say.

In case you didn't know it, the SALT provisions are targeted to hit democratic states hardest. You know, where the rich liberals live.

Just keep lowering the bar until something sticks?

You can't stand what is said so you misquoted me. It doesn't matter, Bob is still your uncle.

3 ( +3 / -0 )

Blacklab: Glad you're back. Maybe you can answer why the current tax regime needed reformed to add $1 trillion to the debt when the economy is doing just fine now.

3 ( +3 / -0 )

The Trump economy has been great 

It usually takes 2 to 3 years for a newly elected president to really claim credit for the economy or for anything else other than launching missiles.

But you probably believed him late last year when he said unemployment was over 60% when it was less than 8%.

In this case, he can claim credit where credit is due. He is the biggest and most obvious liar of all presidents. He now owns the ACA and American health care problems with the "repeal" of Obamacare. He has given a gift to the rich and corporations while the GoP privately marketed the tax bill as a tax cut for the middle-class, and he has now blown the budget and will be asking for huge debt increases next to keep the government open.

Good job. Everything is great. MAGA.

3 ( +4 / -1 )

More money available will result in inflation. This is not going to change much for the middle class and lower class.

Companies are going to raise prices and demand remain about the same.

For the lower class, benefits will be lowered making the tax cut useless for them.

3 ( +4 / -1 )

Off-topic. Wait a bit and you'll see Trump faced with dilemma of pardoning his son-in-law before he is forced to tell all he knows or breaking up the justice department.

Jared would no longer be able to plead the fifth following a pardon. So, I don't see it happening unless Trump does it against legal advice, which is entirely possible.

There is a dilemma looming, and we have seen it before. The firing of the Deputy AG because of he will refuse to fire special counsel.

3 ( +3 / -0 )

I haven't researched the tax bill enough to comment on it, but what the hell does drilling in Alaska have to do with this?

It's another way to MAGA. You see, since oil is a finite source and everything will be run off renewable energy in the future, the US should be clinging to oil for as long as possible. This allows Chiba to be and remain number one in renewable energy technology. Because that's "good enough" instead of being exceptional.

MAGMA by ceding leadership to China and Russia whilst running up the debt!!!!

3 ( +3 / -0 )

*China. Chiba is a leader in peanuts, not renewable energy.

3 ( +3 / -0 )

One cannot move on from Trump's sins, for they are legion. Favoring the rich over the poor, inciting racial hatreds, inciting violence, corruption, treachery, sexual assaults, lying...

America will remember and judge appropriately.

3 ( +3 / -0 )

Would you move on?

I would still attack him for being a witless tool.

3 ( +3 / -0 )

German economists at the Center for European Economic Research (ZEW) released a study last week finding that U.S. corporate tax reform will sharply improve incentives for foreigners to invest in America—at the expense of high-tax countries such as Germany. 

That might be true for foreign companies investing in the US, but considering that the law sets a lower tax of 10% on US corporate assets held abroad, it is a major incentive for US companies to offshore their operations.

This law is so full of holes it probably won't be fully understood even before it's repealed. What a mess.

3 ( +3 / -0 )

Companies don't pay bonuses or hire workers based on tax breaks. They do it based on demand and capacity.

These companies are giving a token to their employees to celebrate the billions more they will make, hoping to get people on board.

A vast majority of the CEOs polled said they would not divert funds to wages or research. That didn't change with the tax haven in 2004 and it won't change today. My guess is the majority of the funds will be used for stock buybacks to make their stock more attractive to investors. That's why they did last time.

3 ( +3 / -0 )

Credibility once lost is not easily regained. My wife and I make a good couple as we balance each other inherently - my stinginess against her generosity. That balance between the two US parties has long been the genius underlying US success - but what happens when one party becomes disbalanced, too stingy towards one demographic group and too generous towards another?

This has happened before, back some four decades ago, and history records the results. Those GOPers congratulating themselves on their excess might look back on history and learn.

3 ( +3 / -0 )

Democrats couldn't care less whether the tax legislation was good, bad, or indifferent. Their singular, unwavering mission is to stop, undermine, and/or embarrass Republicans in general and Trump specifically. This could be the greatest single bit of legislation in the history of mankind, but no matter, as handing Trump and the Republicans a defeat takes absolute priority, even at the expense of 330 million Americans.

This is rich given what the repubes did to Obama. Kuddos!

3 ( +3 / -0 )

Or you may not.

If you say so. I'm sure your extensive network of sources and family in the intelligence community have told you what's what.

The government has more than enough money, it’s time to invest money and the public sector is doing just fine, now it’s time to invest heavily into the private sector.

Then why have there been constant deficits since the latter half of Bush II? The government already invests heavily in the private sector through R&D funding for most technological advances. It's an old pattern of making the risk of new technology public and then allowing the private sector to enjoy the profits. Do some research of your own before asking for examples. I'll give you one because I'm nice like that: the Internet.

I have a serious question, what will the left to if they find out that Trump is completely innocent of any wrongdoing? Would you guys be satisfied with results if Mueller was to find Trump innocent? Would you move on?

Absolutely. Unlike cons, we won't demand constant repeat investigations and then after Trump is cleared for the n-th time ask for just one more, like you guys did/are doing with Hillary.

3 ( +3 / -0 )

Well, that was one big extended fabrication.

Only for people with their head's buried in the sand. ROFL. Oh my! Kuddos. Good lord.

Good to know. But I know libs can’t resist their inner selfish urges to refrain themselves from saying anything nice, it would definitely have to be crude and ugly.

Say's the poster that constantly denigrate liberals and repeats falsehoods about Obama.

3 ( +3 / -0 )

Blacklabel: even CNN says

You've used that quite a bit. Seems you are fine quoting CNN when it supports your position, then hopping over to the other side and calling them fake news when it doesn't.

3 ( +4 / -1 )

Again, it depends on what you want to believe. 

No. Facts do not change simply because one doesn't want to believe them. Amazing that anyone would hold that stance. But, I'm sure someone that does is quite wealthy because denying facts is a sure fire way to have successful investments. LMFAO.

3 ( +3 / -0 )

If you are satisfied with the quality of services available to you in return for paying 37% of your income in taxes, You may just be an unusual case.

I don't think so. Most of us from socialist countries have problems with how tax money is spent at times, but we see the benefit in paying taxes to a common pool, which is then used to benefit all of us. And we think that every time we get health care in those countries.

3 ( +4 / -1 )

Where do you think the money to run a government comes from - thin air? Go ahead, take all the incentive out of economics and watch how such a "Great Leap Forward" impoverishs everyone. At some point the political Left will learn from history and figure out that without free markets and economic incentives there is only misery and dreadful poverty.

Why do you always run to extremes? You have this habit of comparing arguments that run counter to your own to things like Mao’s China. Nobody here is advocating implementing the ideas of Mao in a 21st century developed economy as far as I know.

Let’s look at facts rather than hysterical comparisons. Trickle-down economics has created enormous wealth which the super rich have gobbled up, leaving others to stagnate or fall behind. If you feel that’s acceptable, say so and don’t characterise any alternative view as something the Chinese themselves have abandoned.

2 ( +3 / -1 )

why they voted against having their constituents

having to pay $1 trillion more in debt.

I want proof of what I was promised. That Donald Trump himself conspired, colluded, coordinated, whatever in a direct and treasonous manner with Russia to illegitimately become President.

Wait and you may get it. No reason to rehash why an investigation into a complex issue takes time, which is to say it is absolutely reasonable that we haven't heard anything yet on the collusion angle.

2 ( +2 / -0 )

I haven't researched the tax bill enough to comment on it, but what the hell does drilling in Alaska have to do with this?

2 ( +2 / -0 )

Chiba is a leader in peanuts, not renewable energy.

Mind you, the peanut has quite a bit of energy to spare

https://www.scientificamerican.com/article/new-energy-device-is-made-from-peanuts/

Anyway, the tax cuts are amazing. Making corporate America even richer than before. Same old peanuts for the poor, though.

2 ( +3 / -1 )

what will the left to if they find out that Trump is completely innocent of any wrongdoing? Would you guys be satisfied with results if Mueller was to find Trump innocent? Would you move on?

I would be satisfied because it was Mueller leading the investigation. I could totally believe Trump was dumb enough not to know Russia was working for him.

Seriously? Trump making statements in public right after key events with Russia proffers. It doesn't seem possible.

Plus, you have the whole obstruction problem with Comey that is in your face and not going away.

No, the idea that the investigation is a nothing burger is a farce. The clock is ticking and the prisoner's dilemma will decide it soon.

2 ( +2 / -0 )

College students can’t work at all? Retirees don’t want part time work? Disabled can’t work? People taking care of family can’t get a good job that allows them to pay someone else to do it and still have money leftover? Job creation!

It's not about ability to work, it's about the need to work. You're assuming those 90 million would take a job if there was one available.

like the detail that 94.6 minus 86.8 isn’t 7.6?

My apologies for the typo. I'm sure it's never happened to you.

Also why does only 12% of the USA population live in California but California has 34% of the total USA welfare recipients?

3.7 billion in total.

Hmmm . . . First, there aren't 3.7 billion people in the US. Second, only 12% of the US population creates an economy that is the 5th largest in the world probably means the jobs are for highly skilled workers. Additionally, California has the highest rate of poverty in the US because of the wealth gap.

I'm glad you're back, Blacklab. You're more of an intellectual challenge than Bass. However, I need a lot of beauty sleep and the night is only contracting. Speak tomorrow. Enjoy the rest of your eve.

2 ( +2 / -0 )

Blacklabel -

Also why does only 12% of the USA population live in California but California has 34% of the total USA welfare recipients?

Not sure what this has to do with Trump's tax "reform," but I'll tackle it. Y'see, California, as the engine of the US economy but with a very limited inhabitable area, is an extremely expensive place to live. California, however, does not want the very people who contribute to its success to die on the streets. Some states may deal with poverty by ignoring it (see: the south) or outsourcing it to religious groups (see: the midwest), but California actively encourages its citizens to take maximum advantage of what government aid has to offer. Look at it's ACA sign-up rate: top of the nation.

Now, when a corporation fails to extract maximum tax benefits, it's called malfeasance; for an individual, it's called stupidity. Any state's failure to do so would fall between these lines. Look at Kansas.

The point is that ANY state which wanted to meet Cali's stats could do so if they felt like it and were partially organized. There are few of those states. Thus, the goodies go to California. Because were're smarter than everyone else except for a few friends who we're all actually pretty chill with.

2 ( +3 / -1 )

Lyin' Donald tells yet another lie: he (and his family) will profit HUGELY from the tax bill.

2 ( +3 / -1 )

Then we both agree on something. You have your facts and I have mine

Clearly we don't agree given you think there are "your" facts and "my" facts.

Yes, it’s just horrible that some people do actually have free thought different from being part of a collective.

The collective that recognizes facts? Okay.

No, it just means, I’m smart with it and I don’t have to believe a one-sided poi;t of political view, especially when liberals try to shove it on people like sandwich down someone’s throat.

Facts have nothing to do with political points of view. It's painfully obvious that accepting facts does though.

 Liberals have virtually zero knowledge on building a stable economy, they’ve never really been good at creating strong leading jobs in the private sector and cutting spending and tax cuts is just something not in their DNA.

Clinton and Obama.

2 ( +3 / -1 )

I'd be celebrated too if it meant I'd be earning $6 - $10 million extra (CPA estimate). Rich making themselves richer.

2 ( +4 / -2 )

... But private USA citizen's are still kept under the yoke of global taxation. Another example of how this entire tax change is an unmitigated attempt to transfer as much wealth to corporations as possible while screwing over middle-class individuals.

2 ( +3 / -1 )

companies flush with cash just buy their own stock to prop up their value. They have no economic worth.

On the other hand, increase taxes and that cash is lost. However if they're going to lose that money anyway, they pay wages to an employee that increases market share of a product or service, with the side benefit of economic growth, leading to corporate profits. This also gets away from millionaire CEOs as the money generated is from the company not a useless gift.

Pre-Reagan level taxes are the only thing that will save USA. Force corporations to hire people so that it doesn't lose market share. The longer it runs away from its own successful history the harder life will continue to become

2 ( +2 / -0 )

When has a president ever accomplished so many campaign promises so soon?

I'm not sure, but didn't Clinton also get a massive package wrapped up?

1 ( +1 / -0 )

@bass  I wish for once the rich liberals would shut up and stop bothering the rest of us..oh think there are plenty of readers that think the same about Trump loons...all the talk and all the rhetoric  coming from where I wonder someone seems to post a hell of lot more than other users.

1 ( +1 / -0 )

I don’t care about 1 trillion of debt over 10 years after seeing obama do 10 trillion of debt in 8 years

Okay. So, if someone did something wrong in the past, it's okay to do that wrong thing now. Got it.

Why was tax reform needed? To grow the economy even more and create even more than the 2.2 million jobs Trump already created.

Finally, an answer. Thank you.

Since unemployment is so low, how will those jobs get filled?

Anyway don’t mind me, I was just popping in to look for all those Roy Moore accusers and the women who got paid or were offered payments to accuse Trump. 

They (and their lawyers) seem to have disappeared since that election huh? 

Just because they are t plastered all over the front page, doesn't mean they have disappeared. It's called the news cycle.

there is nothing Dems can say now if the economy continues to grow and the 1% GDP growth periods of Obama are shown for how pathetic they were.

Any economic growth after the cons ranked the economy in the financial crisis was pretty impressive. Funny how crazy, clearly corrupt kleptocratic cons think Trump is 100% responsible for the current economy when it was Obama that wrangles the economy back from the brink.

4% GDP this quarter? Any comments on that?

It's great. Thank your deity that Obama was able to lay the foundation for this growth by fixing the major f-ups of the Bush years.

Next up, debt increase to keep the government from shutting down. Kuddos, fiscal cons. Glad the debt only matters when a democrat adds to it.

1 ( +2 / -1 )

He just gave himself a tax cut of untold millions of dollars. What a guy.

1 ( +3 / -2 )

@loggediin

I actually live a place where I pay around 37% of my income in taxes.

And it feels really good.

It's the feeling of getting a completely free education, I even get a monthly stipend I don't have to repay, ever. It's the knowledge that I can go to a doctor any time I feel the need, completely free, no worries about money. I'm in the lowest income-bracket in my country, and I still get all this. It has given me the ability to rise above my background, to get an education at a university as the first in my family - and I'll never have to worry about paying for it.

After all that, I can still afford three meals a day. I may not be getting the newest smartphone, but that's ok. I have what I need and live quite comfortably.

1 ( +2 / -1 )

@fxgai

I'm pretty happy with it, and no, I'm not an unusual case. Our current government are debating a tax-cut right now, and that is wildly unpopular - nobody wants it because we are so happy with our society. Of course, it's not perfect, and as Strangerland says, sometimes there is some frustration with how the money is spent, but the overall good it does do society is recognized because it is felt by everyone, we all benefit from it.

1 ( +2 / -1 )

This is how this tax break will work. The extreme wealthy will go from paying "0" tax to getting a refund.

1 ( +2 / -1 )

Ya, Companies are going to reinvest. Haaaa. The Company Tax rate jump back to 35 % in 2025. No company will pass on sort term profits on wage rises. No Company with any business intellect will not pour money into a economy when knowing that this 21 % just the lure to set up then pay the highest Tax rate in the world in 7 years time. No Way. China is sitting back laughing at Trump attempt at Making America great again. This will be great for other Ecomonies. The Yen has drop and will drop further over the next 7 years. Great for a export national like Japan, China and Australia. Good on ya Trump great move. Short term is will good for the GOP and the elites.

0 ( +2 / -2 )

Bass: I wish for once the rich liberals would shut up and stop bothering the rest of us, they will be fine.

If all those super wealthy liberals like Soro's, Steyer, the Obama's and Clinton's, and all the mega-rich robber barons of the Left at Google, IBM, Apple, etc. actually wrote a check to the federal government for the amount of money that they say is their "fair share" instead of paying their tax attorneys and accountants handsomely to find loop holes and maximize deductions people might actually believe they are as virtuous as they pretend to be.

0 ( +5 / -5 )

Tommy Jones: That why the economy is roaring along and employment is high under the current tax regime?

Well actually the economy starting "roaring" at about the time Trump was elected. During Obama's presidency GDP never exceeded 3%.

Lets ask the people in California. Then, we can ask the people in Kansas how well tax cuts work to stimulate the economy.

Better to ask the people of North Carolina - which is a close model for the just enacted Federal tax reforms. NC is doing pretty well.

cracaphat: The problem with this tax bill is that trump doesn't know what's in it

Need to get your pointing point straight. The current Dem line is that Trump pushed for this tax legislation because he put things in it that will make him richer.

The gop are so smug about passing this bill it's laughable.... unless you're not rich.

This new law doubles the standard deduction and increases the child tax credit. For those that do not itemize, which are most poor, lower, lower-middle class tax payers they get only benefits and none of the penalties that itemizers (ie. the wealthier side of the citizenry) will come across. Just repeating Chuck Schumer and Nancy Pelosi's anti-capitalist rants doesn't make them true.

0 ( +2 / -2 )

So...much...winning...

0 ( +1 / -1 )

Yep just like this tax reform. It’s only bad cause Trump and his supporters want it.

You simply hate Trump no matter the results of anything. When cleared by mueller, well he’s still orange dotard. GDP gets 6% well he is still stupid moron. ISIS defeated, not a big deal anymore who cares about that

Just admit the hate rules over any possible results, then you will all feel so much better. Then won’t have to feel guilty partaking in the lower taxes you get and enjoying the financial benefits of the booming Trump economy.

0 ( +2 / -2 )

Go find one of the many online tax calculators, play around with various income levels and filing statuses, and come back and tell everybody why this tax deal is the Armageddon. The highest earners pay more, people lower down the ladder pay less. Please don't tell us that poor people don't get a tax cut, because poor people don't pay taxes and they never have.

I think this has much more to do with "I hate Trump" than it has anything to do with people actually knowing what the hell they're talking about.

0 ( +2 / -2 )

we see the benefit in paying taxes to a common pool, which is then used to benefit all of us.

overall good it does do society is recognized because it is felt by everyone, we all benefit from it.

Thousands and thousands of families pay taxes and yet are unable to get their kids into daycare in Japan. 

I am done with thinking that "we all benefit" from this situation. It's nonsense. There are winners who get service provided at the expense of others, and losers who don't get service but yet contribute to subsisdizing services received by the winners.

That is inherently unfair, it is a failed system, it is indefensible if one is interested in actual outcomes (as opposed to ideals about how certain services "ought be" provided by government).

we think that every time we get health care in those countries.

There are countries, such as Singapore, with successful health care systems that have far greater elements of individual choice than in other ("socialist", as you put it) countries.

0 ( +1 / -1 )

""If we can't sell this to the American people, we ought to go into another line of work," he said."

The Amercian people, including the average Republican voter, didn't buy it and yes, please get into another line of work.

0 ( +1 / -1 )

@fxgai

You don't even know where I'm from or how we make it work - because overall, it does work really well. So how can you claim it's a failed system?

I don't think any system is completely perfect. There is no place, no system, where everyone is 100% satisfied and no one suffers. But some make it work better than others.

0 ( +0 / -0 )

You said there are more people available than my estimate of 5 million. So great means even more people can work than I thought.

College students can’t work at all? Retirees don’t want part time work? Disabled can’t work? People taking care of family can’t get a good job that allows them to pay someone else to do it and still have money leftover? Job creation!

http://money.cnn.com/2017/12/20/pf/taxes/tax-cuts-temporary/index.html

even CNN says most people getting a tax cut not just the rich. But it’s no good because in 2027 their taxes might go up some if it isn’t renewed by then. Yeah sure.

-1 ( +2 / -3 )

It is the first major overhaul of the nation's tax laws since 1986.

With politics in the USA polarized one will not bother to delve into the details, but broadly speaking I expect that this "major overhaul" will have significant repercussions around the world, as other tax collecting entities are forced to reconsider their own approaches.

As a resident of Japan one hopes that it will have repercussions here too.

People across the spectrum typically understand that if you hike taxes on, say, tobacco consumption, or whatever, it has a negative impact on the thing that is subject to that higher tax. People on JapanToday comments frequently suggest that Japan ought to lower its consumption tax, in order to get more consumption. (I agree that this would result in higher consumption, but it would also reduce the stable revenues the government gains from consumption tax.)

With tax on business profits being significantly lowered, one would conclude that similarly we can expect to see more business profits as a result - this would be uncontroversial were it not for polarized politics. (The same principle applies here in Japan, where the government introduced tax-exempt NISA and iDeCo accounts - at least some of the users of those tax-free accounts would not have been investing otherwise, were they paying the normal rates on any investment profits. Boosting personal investment was one of the goals of the introduction of these accounts.)

People will seek to take advantage of the lower tax rate on business profits in the USA. How to do that? By investing more money there. More investment will result in more capital expenditure, and resulting higher productivity in order to achieve more profits. The resultant increased demand for increasingly productive labour in the flexible labour market like that in the USA (relative to Japan at least) will put upwards pressure on wages. There will be improved options in terms of better paying jobs to take as a result of increased labour demand. Workers will thus have more money in their pocket, which they can either choose to spend now or alternatively save / invest themselves, to benefit from lower business taxes directly should they choose.

I believe that this approach will produce faster economic growth than compared with the approach of government spending our money, trickle-down style, in order to try to achieve similar results. It is important that the people who made the money are the ones to spend it, because they will spend it more usefully rather than when government bureacrats are choosing how to spend our money - because it benefits them to do so whereas it does not to a government bureacrat.

The outstanding issue is the US budget deficit problem, which will exist in some form or another irrespective of the tax package. But the budget deficit problem is a matter not of just tax revenues, but of spending on the other side of the ledger. Historically even governments that have enjoyed increased tax revenues have not dug themselves out of budget problems, because on the other side of the ledger democratic governments have a tendancy to spend money that they do not have. Japan's government budgeting a record 97+ trillion yen of spending next fiscal year, while collecting only circa 60 trillion yen in revenues is a typical case of this. That tax revenues at circa 60 trillion yen are around record levels - never anywhere near the 97+ trillion that is to be spent - is a clear illustration of the cause of the budget problem.

Starting next year, families making between $50,000 and $75,000 will get average tax cuts of $890, according to an analysis by the nonpartisan Tax Policy Center.

Besides the direct effect of lower personal income taxes, I believe families will over time see other benefits in terms of higher wages, and if they opt to invest their extra money (rather than spend it) they will gain from that too. 

It is important that families recognise these opportunities.

The bill is projected to add $1.46 trillion to the nation's debt over a decade. GOP lawmakers say they expect a future Congress to continue the tax cuts so they won't expire. That would drive up deficits even further.

I project that the projections will prove to be wrong, 10 years from now when they will have been long forgotten. It is obviously impossible to accurately project the precise effect 10 years out, and how the debt turns out ultimately depends on unknown changes to government spending as well.

-1 ( +0 / -1 )

Interesting comments: Here are a few interesting articles just to provide another point of view;

Three (3) companies raising their internal minimum wage

https://www.cnbc.com/2017/12/20/fifth-third-bancorp-unveils-bonuses-minimum-wage-hike-after-tax-bill-passage.html

AT&T giving bonuses and expanding in the US

https://www.cnbc.com/2017/12/20/tax-reform-reaction-att-is-giving-bonuses-to-200000-employees.html

I think the U.S. will see some overseas profits repatriated and pumped into the economy as well.

I think it will be interesting to see how this works going forward. There will certainly be some immediate benefits from tax reform. It will be interesting to see how this plays out going forward.

-2 ( +2 / -4 )

If anyone is actually interested in reading the thing the link is here

https://www.congress.gov/bill/115th-congress/house-bill/1/text

@John-san - are you privy to some information we are not privy too? Or is this just a guess on your part

-2 ( +1 / -3 )

Since unemployment so low how will jobs get filled, you ask? Would it not be possible that every single person has an actual job? Or people who want to get richer have 2 jobs?

Then the billions of dollars spent on welfare to pay people to NOT work wouldn’t be necessary. That money couid be spent on increases wages, job creation and job training/retraining.

-2 ( +1 / -3 )

Dozens of posters have given links, citations, quotes and evidence on these "fabrications" dozens of times.

I did as well in the past. So because I’m not following the liberal herd, I’m wrong? Well, I think you guys are wrong. Again, it depends on what you want to believe. Also, now that we know Lisa Bloom is a charlatan and was going to pay these women as much as 750k shows how dastardly and corrupt the left really is! No shame whatsoever!

The racism, incitement to violence and admitting sexual assault have all been recorded on the news for the whole world to see. His lies are exposed again and again.

So Trump told people to attack others? He denounced the Klan and what else? No good enough, should he chop off a finger before you take a more careful look at the allegations? His lies are exposed? The lefts lies are exposed daily every time you turn on the TV or pick up the paper.

The tax cuts are clearly favoring the rich over the poor and as for the treachery and corruption; we'll see the truth out eventually.

Yes, any cut the rich will benefit from and I would rather work for a company that can that can pay me well and that will allow me to pay my bills and to Corona company and kickstand rather than to be punished for being successful or punished because the Democrats are just too greedy and want to take as much money as he possibly can. But go ahead after they expire in 2025 then you would start to see inflation rise, so what will the Dems do then, continue them or cut them? If so, they would be essentially cutting their own throats as well as their chances to hold onto any level of power, let’s see if the Dems will take that cut away, they know this and still they peddle that stupid lie.

One can claim it's all fabricated and fake but only if one is not paying attention to news & current affairs over the last year or so.

-2 ( +1 / -3 )

https://www.cnbc.com/2017/12/20/this-is-just-the-start-of-companies-increasing-spending.html

all this happens just within 24 hours of the tax reform passing. Thanks Obama!

-2 ( +1 / -3 )

*So, of the 94.6 million Americans not working, 86.8 million are retired, disabled, taking care of a loved one, or in school."*

Only 7.6 million working aged people are not working. Details are important.

like the detail that 94.6 minus 86.8 isn’t 7.6?

-2 ( +0 / -2 )

the 3.7 billion is not people but DOLLARS yearly that California spends on welfare payments. They have the highest monthly payments in the USA.

49% of welfare recipients actually work too, which is more than I thought. It’s good to learn things as we converse here, have a good night.

-2 ( +1 / -3 )

Trump 2020

-2 ( +1 / -3 )

@Laguna

That might be true for foreign companies investing in the US, but considering that the law sets a lower tax of 10% on US corporate assets held abroad, it is a major incentive for US companies to offshore their operations.

Notice how liberals don't ever mention that almost every other country, even their beloved European socialist states that they love to compare the US to, DON'T TAX FOREIGN PROFITS. Germany doesn't levy any tax on German companies' profit made outside of Germany, yet Germany is still a manufacturing powerhouse. The hilarious thing is that it's exactly the opposite of what Laguna said. The fact that the US taxes foreign profit at all is what incentivizes offshoring and causes companies to move their headquarters overseas. Nevermind that it makes zero sense to tax foreign profit. If Apple manufactures an iPhone in China and sells it in Japan, why in the world should the US federal government get a cut of that money?

-2 ( +1 / -3 )

Anyway don’t mind me, I was just popping in to look for all those Roy Moore accusers and the women who got paid or were offered payments to accuse Trump.

They (and their lawyers) seem to have disappeared since that election huh?

Tax reform will be great. If not then voters will react accordingly. there is nothing Dems can say now if the economy continues to grow and the 1% GDP growth periods of Obama are shown for how pathetic they were.

Seems Trump found that magic wand that Obama sarcastically said didn’t exist. 4% GDP this quarter? Any comments on that?

-3 ( +1 / -4 )

German economists at the Center for European Economic Research (ZEW) released a study last week finding that U.S. corporate tax reform will sharply improve incentives for foreigners to invest in America—at the expense of high-tax countries such as Germany. 

Democrats couldn't care less whether the tax legislation was good, bad, or indifferent. Their singular, unwavering mission is to stop, undermine, and/or embarrass Republicans in general and Trump specifically. This could be the greatest single bit of legislation in the history of mankind, but no matter, as handing Trump and the Republicans a defeat takes absolute priority, even at the expense of 330 million Americans.

-3 ( +0 / -3 )

Wait and you may get it.

Or you may not.

It's funny how they degrade the Dems for taxing and spending when all they do is spend without increasing the government income.

The government has more than enough money, it’s time to invest money and the public sector is doing just fine, now it’s time to invest heavily into the private sector.

Wait and you may get it. No reason to rehash why an investigation into a complex issue takes time, which is to say it is absolutely reasonable that we haven't heard anything yet on the collusion angle.

And probably won’t. I have a serious question, what will the left to if they find out that Trump is completely innocent of any wrongdoing? Would you guys be satisfied with results if Mueller was to find Trump innocent? Would you move on?

-3 ( +0 / -3 )

Last I read there are still 90 million+ people not working in the USA. Something like 5 million of those actively looking, but can’t find something that pays what they think they are worth/what they need to make.

Once those people can get jobs then we move on to the other 85 million who aren’t looking and incentivize them to work as needed in jobs that fit their status. (Retirees, students, stay at home moms, disabled, etc)

bottom line still plenty of unused work capacity for the right job at the right price. The tax reform and jobs bill leading us in the right direction towards a job opportunity for everyone.

-3 ( +1 / -4 )

One cannot move on from Trump's sins, for they are legion. Favoring the rich over the poor, inciting racial hatreds, inciting violence, corruption, treachery, sexual assaults, lying... 

Well, that was one big extended fabrication.

America will remember and judge appropriately.

Be very careful what you wish for. Didn’t go so well for you guys last time.

I would be satisfied because it was Mueller leading the investigation. I could totally believe Trump was dumb enough not to know Russia was working for him.

Good to know. But I know libs can’t resist their inner selfish urges to refrain themselves from saying anything nice, it would definitely have to be crude and ugly.

Seriously? Trump making statements in public right after key events with Russia proffers. It doesn't seem possible.

Plus, you have the whole obstruction problem with Comey that is in your face and not going away.

Comey has his own problems, The focus is turning more in his direction day by day. Still hard to believe that the man exonerated Hillary way before she could even be charged with a crime.

No, the idea that the investigation is a nothing burger is a farce. The clock is ticking and the prisoner's dilemma will decide it soon.

And it might be nothing or it could be someone from the Dems side, but as you say, anything is possible. McCabe is giving a lot of conflicting stories in in his hearing on the Hill. So it seems like even more questions than answers and that a lot of things that he said doesn’t correspond with client of statements and testimonies that he signed. Bruce Orr will be the next one to come in and be questioned, about time.

-3 ( +0 / -3 )

AT&T, Boeing and other major corporations have raised the hopes of their workers today with big pay bonuses for the rank and file. (many gave at least $1,000 to each worker and a minimum pay increaseto at least $15.00 per hour.)

This was done in response to the Republican tax cuts. Perhaps these corporations didn't hear the Democats say this would never happen.

-3 ( +0 / -3 )

No. Facts do not change simply because one doesn't want to believe them.

Then we both agree on something. You have your facts and I have mine.

Amazing that anyone would hold that stance.

Yes, it’s just horrible that some people do actually have free thought different from being part of a collective.

But, I'm sure someone that does is quite wealthy because denying facts is a sure fire way to have successful investments. LMFAO

No, it just means, I’m smart with it and I don’t have to believe a one-sided poi;t of political view, especially when liberals try to shove it on people like sandwich down someone’s throat.

This has happened before, back some four decades ago, and history records the results. Those GOPers congratulating themselves on their excess might look back on history and learn.

I think the liberals will never learn and this will bite them once again on the tush. Liberals have virtually zero knowledge on building a stable economy, they’ve never really been good at creating strong leading jobs in the private sector and cutting spending and tax cuts is just something not in their DNA.

-3 ( +1 / -4 )

You go pay 37 percent of your hard earned income.  See how you feel. 

Any useless teet with no hope, skill, or education can complain, but when a rich dude- soon to be further in the black- comes knocking and opens a nice little factory in your town,  you'll understand then that the money is better kept out of the governments coffers, right?  The government won't open factories, etc. .  Even if you were a useless teet with bundles of cash, you would hire someone to grow it all- and for the good of society in general.  All these clever downvoters here can't muster the effort to picture a real capitalistic system with nearly zero taxation, cause they wanna stay put on their arses next to the heater.. They go on imagining a bunch of rich dudes who can't muster the courage to flip a coin at a begging street bum.  A king wants a wealthy and prosperous realm, and a rich dude hopes for a great community ( they woudn't need to hide away in walled enclaves if it weren't for bad government policy wrecking havoc on the poor).

-4 ( +4 / -8 )

Just saw the first rich liberal on twitter complaining her taxes went up now.

But wait wasn’t this a tax break for only the rich? Hmmmm

-4 ( +1 / -5 )

I want proof of what I was promised. That Donald Trump himself conspired, colluded, coordinated, whatever in a direct and treasonous manner with Russia to illegitimately become President.

I also want proof that only rich people getting tax breaks per Chuckie Schumer. see Bette Middler complaining on Twitter as first example that rich people taxes going up.

its sad because libs want to complain but everytime they do they prove trump right. Not like they would thank him anyway if their taxes went down so I hope all of them pay more.

If Rosie has 4 million dollars to try to bribe senators votes (a felony) she can afford a few more taxes.

-4 ( +1 / -5 )

This law is so full of holes it probably won't be fully understood even before it's repealed. What a mess.

Repealed? Talk about going on a suicide mission.....

-4 ( +0 / -4 )

Also why does only 12% of the USA population live in California but California has 34% of the total USA welfare recipients?

3.7 billion in total.

Lots of farm subsidies there? Lots of unemployed actors?

-4 ( +0 / -4 )

Midnight Sun Tribe,

Corporations are owned by middle class people like me, who post comments on JT. I am not even American and the business tax cut has been good news for me.

As a tax resident of Japan I also pay tax on my worldwide income. I get a tax credit for the tax I already paid on the income overseas. Is it not that US corporations have been doubled taxes on their overseas profits, should they repatriate them? That serves only the interests of the countries where those corporations make their profits.

Jonorth,

I'm in the lowest income-bracket in my country, and I still get all this.

And you pay 37% of your income in taxes?!

If you are satisfied with the quality of services available to you in return for paying 37% of your income in taxes, You may just be an unusual case.

I am fed up with poor public service here in Japan and want to be able to spend my money for myself and family directly instead now.

Just like I choose my own food and Internet and various other services directly. Those things that I pay for I am generally satisfied with. When not, I change who I get my services and products from.

-4 ( +0 / -4 )

I get tired of the whole idea that the government is holding you back.

Just ask the people in Wisconsin, Michigan, Pennsylvania what they think.

In this case, Thomas Piketty is more on point than Anne Rand.

Picketty is just too inconvenient to the dogma needed to support the GoP's positions

That's just one opinion, I’ll trade you 4 for Piketty.

-5 ( +1 / -6 )

Oh now a “willingness” to collude by the “Trump team”? If that’s all then cancel Mueller and law enforcement can handle that easily as it isn’t a crime anyway.

That is a far cry from the Trump himself worked directly with Russia to steal the 2016 election. Remember? Puppet of Putin himself? Treason? Impeachment, all that?

Just keep lowering the bar until something sticks? As far as the tax cuts liberals just mad they can’t say “thanks obama” anymore for what is obviously Trump’s economy.

-5 ( +0 / -5 )

The Trump economy has been great doesn’t mean it can’t be even better now that we have tax reform. Dems just sad that “thanks obama” and “trump doesn’t do anything” are dead now.

Now we simply see how people feel about Dem obstructing this when they start getting more money in their pockets. Of course actual Dems will still complain even as they happily benefit.

-5 ( +0 / -5 )

The democrats are shaking in their boots. They tried every tactic in the liberal playbook to derail this tax cut/jobs creation bill and it all wound up for naught.

Now, they will have to go back to their states and congressional districts -- especially in the 10+ Democrat-held states that President Trump flipped last year -- and defend their reason why they voted against having their constituents pay less federal withholding taxes and start having fatter paychecks beginning in February.

Good luck with that. . . .

-6 ( +0 / -6 )

I don’t care about 1 trillion of debt over 10 years after seeing obama do 10 trillion of debt in 8 years.

The economy will grow to cover that and if it doesn’t we can just stop paying 100 billion per year on services for illegal aliens.

Why was tax reform needed? To grow the economy even more and create even more than the 2.2 million jobs Trump already created.

We don’t stop at “good enough”, we want exceptionalism.

-6 ( +1 / -7 )

Everyone knows that corporations will first and foremost pay their executives.

And?

Secondly, there may be a dividend distribution to increase the market price of the companies. Why? because that is a number driving executive compensation.

Shareholders will use the money primarily to reinvest, which means someone will make a gain, which will be reinvested, which eventually will result in an overpriced stock and bubble to crash losing the value for late buyers. One potential bright spot will be the lack of regulations allowing a bubble to persist much longer before it bursts. Already, the sub-prime auto loan industry has continued unabated because of a lack of regulation and oversight.

You know I get so tired about liberals demonizing conservative rich people and giving their rich affluent liberal counterparts a total pass. The rich will always, always benefit from ANY tax break, it or small, but what you guys fail to realize, the more you penalize and punish them, the less investments you will have into the economy, the stock market, payroll, growth, incentives, the people that create jobs. I have never in my life worked for a poor person or had a poor person give me or create a job. You will always have inequality, always and this stupid idea of income redistribution or income restorative justice will never work, the Dems tried it and nothing happened except rich people clinging to the wealth they have. Notice they wanted everyone to pay their fair share of taxes and now that Trump is in office, the rich cry foul and don’t want to pay high taxes. This is so ludicrous, it’s almost funny, almost. This is the best thing, it will give more incentives for small business owners to build, grow and hire and to become more competitive in a growing market. I wish for once the rich liberals would shut up and stop bothering the rest of us, they will be fine.

-8 ( +2 / -10 )

"We believe you are messing up America," New York Sen. Chuck Schumer told Republicans, chiding them for not listening to his remarks.

It's as if Chuck believes that people keeping more of their own money is somehow an evil thing. Apparently for Democrats the government has first dibs on the rewards for their subjects labor. Does that sound like the system of government America set up back when the colonists overthrew the King of England's rule?

Burning Bush: Why is Mueller just twiddling his thumbs while Trump rages on like a bull in a China shop with his agenda?

Probably because there is more evidence that Hillary colluded with the Russians than there is for Trump. All Mueller's got are charges against Trump crony's for actions that took place before he even announced he was running for president.

nostromo:  the average american workers wage is no higher than the 1970's after inflation and the massive move to part time and casual work over the last 40 years. 

So Clinton and Obama are failed presidents?

Strangerland: Republicans: The fiscally conservative opposition.

By current standards, all Republicans need to do is refrain from running up another $10 trillion in debt over the next 8 years and they will get to keep the title as the most fiscally competent party in the US.

Jimizo: Oh, so cutting the tax rate for large businesses and already rich generally results in these people investing in their companies, opening new factories creating new, well-paying jobs and making society better as a whole.

Where do you think the money to run a government comes from - thin air? Go ahead, take all the incentive out of economics and watch how such a "Great Leap Forward" impoverishs everyone. At some point the political Left will learn from history and figure out that without free markets and economic incentives there is only misery and dreadful poverty.

-8 ( +1 / -9 )

Another in a long string of wins for the President. 

When has a president ever accomplished so many campaign promises so soon?

Yup, no doubt and the Dems are ahowling as usual and this time, I didn’t work, Armageddon didn’t come, the sun rose and we’re all still here.

-12 ( +1 / -13 )

Why is Mueller just twiddling his thumbs while Trump rages on like a bull in a China shop with his agenda?

-14 ( +2 / -16 )

Another in a long string of wins for the President.

When has a president ever accomplished so many campaign promises so soon?

-17 ( +3 / -20 )

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