SALT Deduction

[Irvinecommuter]

Mety: take a look at these poll numbers

Politico Article: On Tax Day, Trump tax cuts remain deeply unpopular

A recent NBC/Wall Street Journal poll found that just 17 percent of Americans believe their own taxes will go down as a result of the bill. A CBS News poll found that 40 percent said they saw no change from the tax bill. And more said it drove their taxes up (32 percent) than lowered their tax bill (25 percent.)

The bill itself has been unpopular from the start and remains so.

A Pew Research Center survey conducted last month found that 36 percent of Americans approve of the tax-cut law while 49 percent disapprove. Even the number of Republicans who strongly approve of the law dipped in the latest Pew survey.

White House officials? response to the unpopularity of the tax cut is basically: Who cares?
https://www.politico.com/story/2019/04/15/donald-trump-tax-cuts-unpopular-1273469

Like I said...just stop with the "good for the economy" spin...just go with "Who care...rich people pay less taxes"

 

[Kings]

Mety: take a look at these poll numbers

Politico Article: On Tax Day, Trump tax cuts remain deeply unpopular

A recent NBC/Wall Street Journal poll found that just 17 percent of Americans believe their own taxes will go down as a result of the bill. A CBS News poll found that 40 percent said they saw no change from the tax bill. And more said it drove their taxes up (32 percent) than lowered their tax bill (25 percent.)

The bill itself has been unpopular from the start and remains so.

A Pew Research Center survey conducted last month found that 36 percent of Americans approve of the tax-cut law while 49 percent disapprove. Even the number of Republicans who strongly approve of the law dipped in the latest Pew survey.

White House officials? response to the unpopularity of the tax cut is basically: Who cares?
https://www.politico.com/story/2019/04/15/donald-trump-tax-cuts-unpopular-1273469

Like I said...just stop with the "good for the economy" spin...just go with "Who care...rich people pay less taxes"

rich people pay most of the taxes in this country anyway....surprise surprise, tax cut also affects them the most!

 

[Irvinecommuter]

Didn't say that, but this year wouldn't surprise me. So you stipulate that the cuts had a near term effect?.  I do think it will last until the next recession, which as I said, will happen, eventually.

Everyone stipulated to that but tax cuts are not suppose to be the driver of economic growth...they are supposed to be the match that lights the powder keg.  Except...there was barely a fizzle.

Conversely we have a dramatic increase in deficit, which will need to be pay for going forward and hurt the economy even more when the rescission eventually comes. 

Oh...we haven't even talked about the tariffs imposed by Trump...again to little short term gain and likely to result in long term harm.

Seriously...the Laffer Curve is myth.

 

[Irvinecommuter]

Mety: take a look at these poll numbers

Politico Article: On Tax Day, Trump tax cuts remain deeply unpopular

A recent NBC/Wall Street Journal poll found that just 17 percent of Americans believe their own taxes will go down as a result of the bill. A CBS News poll found that 40 percent said they saw no change from the tax bill. And more said it drove their taxes up (32 percent) than lowered their tax bill (25 percent.)

The bill itself has been unpopular from the start and remains so.

A Pew Research Center survey conducted last month found that 36 percent of Americans approve of the tax-cut law while 49 percent disapprove. Even the number of Republicans who strongly approve of the law dipped in the latest Pew survey.

White House officials? response to the unpopularity of the tax cut is basically: Who cares?
https://www.politico.com/story/2019/04/15/donald-trump-tax-cuts-unpopular-1273469

Like I said...just stop with the "good for the economy" spin...just go with "Who care...rich people pay less taxes"

rich people pay most of the taxes in this country anyway....surprise surprise, tax cut also affects them the most!

Actually, this tax cut was mostly about corporation...where is the effect? 

Again...like the libertarian...just stop pretending that GOP cares about the bigger picture.  Just go with "Help rich people and corporation make more money" slogan.

 

[Irvinecommuter]

All sorts of good stuff here...the most obvious one to me is: 

https://www.pgpf.org/blog/2018/12/9...our-fiscal-outlook-has-gone-from-bad-to-worse

BTW, we already ran this experiment in Kansas...didn't work there either:
https://www.cbpp.org/research/state...g-evidence-of-failure-of-supply-side-tax-cuts

 

[fortune11]

Didn't say that, but this year wouldn't surprise me. So you stipulate that the cuts had a near term effect?.  I do think it will last until the next recession, which as I said, will happen, eventually.

This makes zero sense

Explain or get get vanquished with facts yet again

 

[Mety]

So the bottom line, not much changed?
Does this tell us in any way that the housing market will be back to bull run again? Or are the buyers still fed up with ridiculous prices?

It did change it effected real estate. Go to the housing analysis thread.

It did affect the market for sure. I agree with you like you suggested not to buy last year as I also think last year was the worst time to buy IMO. But people kinda stopped buying because of the seasonality, ridiculous listing prices and also the fear of this new tax plan would not benefit like it used to. It seems though because of other factors, people are not much affected by it in the overall tax calculations or even got more benefits for some reason as some TI members are saying. The housing tax alone might have been a little less attractive, but because of new bracket systems, maybe it turned out not as bad? I could be wrong. I?m just guessing from how people including myself thought it was going to be so bad, but surprised to see some benefits at the end. Well, I was only interested how it would affect the housing market so I guess we will see how it plays.

Read the article from the NY Fed. Don?t be foolish and rely on TI responses. (You should know better.)

Mety: take a look at these poll numbers

Politico Article: On Tax Day, Trump tax cuts remain deeply unpopular

A recent NBC/Wall Street Journal poll found that just 17 percent of Americans believe their own taxes will go down as a result of the bill. A CBS News poll found that 40 percent said they saw no change from the tax bill. And more said it drove their taxes up (32 percent) than lowered their tax bill (25 percent.)

The bill itself has been unpopular from the start and remains so.

A Pew Research Center survey conducted last month found that 36 percent of Americans approve of the tax-cut law while 49 percent disapprove. Even the number of Republicans who strongly approve of the law dipped in the latest Pew survey.

White House officials? response to the unpopularity of the tax cut is basically: Who cares?
https://www.politico.com/story/2019/04/15/donald-trump-tax-cuts-unpopular-1273469

Thanks for the articles. While it may benefit me for now I guess it could possibly play the role in upcoming recession or any economic damage on the way. But like I said before, I?m not really too familiar with economy or political stuff. You guys seem to be on top of it always, but two opinions (Trump fans vs. Anti-Trump) can?t seem to agree forever lol.

 

[morekaos]

Didn't say that, but this year wouldn't surprise me. So you stipulate that the cuts had a near term effect?.  I do think it will last until the next recession, which as I said, will happen, eventually.

This makes zero sense

Explain or get get vanquished with facts yet again

Was answering something irc said. This is getting off topic. See me back at the Dow thread where we left you 6% ago.

 

[fortune11]

Didn't say that, but this year wouldn't surprise me. So you stipulate that the cuts had a near term effect?.  I do think it will last until the next recession, which as I said, will happen, eventually.

This makes zero sense

Explain or get get vanquished with facts yet again

Was answering something irc said. This is getting off topic. See me back at the Dow thread where we left you 6% ago.

I am still amazed anyone lets a hack like you manage their money    

Do you even understand what the words  ?risk management? mean ? 

 

[morekaos]

Always fall back on name calling, typical for your generation.

 

[fortune11]

Always fall back on name calling, typical for your generation.

How do you know I am not some fox watching geezer just having fun here at your expense

 

[morekaos]

How do you know I'm not some LGBTQXYZ, Maddowite trolling you for fun?  That's kindda my point, no one knows anything about anybody on the net. Maybe we should meet back at the Snowflake thread, not the Dow one.

 

[Irvinecommuter]

I like to note for the record that despite repeated requests to have fact-based discussions regarding the economic effects of tax cuts, the conservatives here have stuck with either 1) "it's okay because rich people and corporation got more money" and 2) "anything can happen".

 

[morekaos]

Noted

 

[Irvinecommuter]

Noted

Great...so I am just going to ignore any efforts by conservatives here of having any level of actual policy/evidence based discussions.

As I stated, just go with the "I don't care, I got more money" slogan.

 

[fortune11]

Noted

Great...so I am just going to ignore any efforts by conservatives here of having any level of actual policy/evidence based discussions.

As I stated, just go with the "I don't care, I got more money" slogan.

Once again , IC nails it ...

 

[morekaos]

Noted

Great...so I am just going to ignore any efforts by conservatives here of having any level of actual policy/evidence based discussions.

As I stated, just go with the "I don't care, I got more money" slogan.

You've seen it all right here, not just the anecdotal proof of your own fellow posters but even the NYTimes who admits the tax cuts were real.  Over analysis causes paralysis. Don't let a blind hate for Trump get in the way of actual dollar benefits you and I have realized.  Enjoy it, be grateful.  Now, how you react in the future is up to you but this cut is a win.

 

[Irvinecommuter]

Noted

Great...so I am just going to ignore any efforts by conservatives here of having any level of actual policy/evidence based discussions.

As I stated, just go with the "I don't care, I got more money" slogan.

You've seen it all right here, not just the anecdotal proof of your own fellow posters but even the NYTimes who admits the tax cuts were real.  Over analysis causes paralysis. Don't let a blind hate for Trump get in the way of actual dollar benefits you and I have realized.  Enjoy it, be grateful.  Now, how you react in the future is up to you but this cut is a win.

Again...facts and evidence...talking points are irrelevant.

 

[eyephone]

Noted

Great...so I am just going to ignore any efforts by conservatives here of having any level of actual policy/evidence based discussions.

As I stated, just go with the "I don't care, I got more money" slogan.

Is he taking the job seriously or is this fun and games?

Don?t forget about Marillyn Lockheed (Marillyn Hewsen CEO Lockheed Martin) and Tim Apple (Tim Cook CEO of Apple) [Keep in mind he was just introducing them on separate occasions/different event. But it sounds like an attack. Lol]

 

[fortune11]

I will give you the exact benefit of tax cuts to corporate earnings and where the money was spent (relative to years prior)

Chest thumping conservatives want to take a guess first  ?

Remember prior beatdowns on the trade deals , bond bubbles, etc so take your time and google thoroughly before you respond this time 

That is , if facts matter to you  ...