They’ll find out what’s in it after they pass it.
There is no premature gas about Congress, Congress is perpetual farts whenever they are in session.
Can't wait for Trump to crow about what a great tax reform bill he has gotten passed, as he crows about the stock market rise all due to his administration. The stock market was all a bubble before he got elected, but now it is real and due to his policies. You have to wonder how far the attention span is for the average American voter and why these politicians think we are stupid or are they right.
Every major reform has something for everyone to hate, but this tax bill - as it is developing - moves both politics and the economy in the right direction.
1. The reduction in corporate taxes is the centerpiece; watch capital flow into the U.S. as soon as it goes into effect.
2. Eilimination of SALT ( state and local deductibilty) is a kick in the pants to wealthy liberal voters in big-government states.
Don't believe the fake news that this reform is all for "the rich." The burden of corporate taxation doesn't fall just on the wealthy, it falls on consumers and workers, too.
Once again, the press lies.
In all the years I've filed taxes, more than I like to remember, I only had enough to itemize while I owned a rental house. The rest of the time, it was standard deduction.
Can you guess how much eliminating SALT (State & Local Tax deduction) affects you?
If you don't itemize, it doesn't affect you at all. And with the standard deduction doubled, that's a lot more people than it used to be.
So, those with high property tax bills and high wages will pay more. Most others, due to the larger standard deduction, less.
Lowering the corporate tax rate is not going to pour billions of dollars into the US, the corporates are already invested in other countries, all they will do is do more stock buy backs and acquire other companies as they have done for years with zero rate FED funds.
The tax"reform" bill reforms jack, it just is an attempt to continue to prop up the market, it might do that.
AND no one gives a damn about the deficit, as it has gone beyond reason. The chump change you will get from the standard deduction won't pay for a dinner out and all that to line some CEO's pocket. I see that real estate speculators like this bill, can you imagine with Trump's past and present. same ole same ole from the feudal society
Why do I feel like watching South Pacific?
How about Les Mis. ?
I was thinking about Happy, Happy, Happy, Happy Talk!
Your knowledge of popular song is impressive. Which reminds me.
Sam and Janet.
Sam and Janet who?
Sam and Janet Evening.
Memo to Mike G.-
That was a joke; nothing to do central banking.
Economike: Welcome back, I had given you up for dead. Unfortunately you brought your lack of understanding of the economic system with you.
Just like that, he reinforces the post I just made elsewhere.
I was curious enough to look for that post. It was worth it.
Some things don't change. Mike G. is still the world's greatest authority on the hidden power of central banking. And pmconusa is still the world's greatest authority.
By Jove, Emike, I think you've got it! There may well be genes from academia in the pmcon mix.
Who among other things, gave us this: