patrick.net

DryMap says

Don't worry. By the end of Trump's first term, the economy will be in recession.

It should be, we're in year 8 of the business cycle, it's way overdue for a correction.

mell says

Lol no for most it's just having more cash for day to day activities and bills.

Lol, I didn't know that the rich in the US couldn't pay their bills.

bob2356 says

Cult brainwashing truly works well for people who don't want to actually think.

What do you call a guy with no arms and no legs floating in the ocean?

mell says

Not true. People objected to the bailouts not tax cuts. Obummer bailed out the wealthy and then raised taxes on everybody.

Amazing. Brainwashing works. TARP was under bush. Reagan signed the largest tax increase in peace time. Facts suck.

mell says

Overinvestment? Lol no for most it's just having more cash for day to day activities and bills

ROFLOL. How much of the tax cut is going to people to use for day to day actvities/bills and how much is for stock buybacks/dividends? Please let us have the numbers. The suspense is killing me.

just_passing_through says

bob2356 says

Cult brainwashing truly works well for people who don't want to actually think.

What do you call a guy with no arms and no legs floating in the ocean?

I rest my case.

bob2356 says

ROFLOL. How much of the tax cut is going to people to use for day to day actvities/bills and how much is for stock buybacks/dividends? Please let us have the numbers. The suspense is killing me.

Here is your answer: https://www.bloomberg.com/gadfly/articles/2018-03-05/five-charts-that-show-where-those-corporate-tax-savings-are-going

About 60 percent of the gains are going to shareholders, compared with 15 percent for employees.

anotheraccount says

About 60 percent of the gains are going to shareholders, compared with 15 percent for employees.

Note that there isn't a breakout of how much of the employees share is a 1 time bonus, that will very very likely to be conveniently paid going into the 2018 elections. That would of course be coincidence. What do you think the odds of an additional bonus from the tax savings happening the year after the election? Going to be real interesting to see the breakout then.

Shareholders include executives stock options. That would be the executives deciding on how the tax savings are spent. Do you suppose the top executives at apple and exxon are having trouble with day to day expenses and bills?

bob2356 says

TARP was under bush. Reagan signed the largest tax increase in peace time.

What did Obama sign?

The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. 111–5), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.

The approximate cost of the economic stimulus package was estimated to be $787 billion at the time of passage, later revised to $831 billion between 2009 and 2019
https://en.wikipedia.org/wiki/American_Recovery_and_Reinvestment_Act_of_2009

bob2356 says

Amazing. Brainwashing works.

Sure does.

bob2356 says

Facts suck.

They certainly do!!

bob2356 says

How much of the tax cut is going to people to use for day to day actvities/bills

Just everyone who brings home a regular paycheck. It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.

Just "crumbs" as your hero, Nancy Pelosi would say.

FP says

mell says

Lol no for most it's just having more cash for day to day activities and bills.

Lol, I didn't know that the rich in the US couldn't pay their bills.

So, 150 million workers who have seen an increase in their checks the past month are all considered "rich" now?

5lbsbrowntrout says

If the economy is at near full employment what is the sense in a tax cut?

Being at full employment and having extra cash to spend in the economy are two completely different animals. Just because people are working (many with two jobs) doesn't make a strong economy.

Economics 101.

Sniper says

Just everyone who brings home a regular paycheck. It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.

Great, $30. That same person is going to be paying 1%+ more on his or her mortgage due the supply of treasuries coming because of the huge deficit. So on $400K mortgage that's extra $333 every month min.

anotheraccount says

Remember that Obama put on that debt during 8 years. Trump will probably put up the same amount in 5 years or sooner if we get a recession. Which part of it is false again? How did Bush prosperity work out for you? Lucky for you, Obama was scared shitless and bailed everyone out.

"will probably" doesn't indicate much to me.

bob2356 says

Spending and debt are going up, up, up and

Reduced welfare rolls and increases in tariffs will fix this

anotheraccount says

Sniper says

Just everyone who brings home a regular paycheck. It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.

Great, $30. That same person is going to be paying 1%+ more on his or her mortgage due the supply of treasuries coming because of the huge deficit. So on $400K mortgage that's extra $333 every month min.

Way to "number shop." Someone with a $500 weekly check will not have a $400k mortgage. Also, most mortgages are fixed rate and will not "go up 1% " because of "treasury supply" or any other reason.

Booger says

bob2356 says

Spending and debt are going up, up, up and

Reduced welfare rolls and increases in tariffs will fix this

To fix this Trump will have to reign in the MIC. End the frivolous wars that team Bush/Obama/Clinton got us into and our financial problems melt away.

Best president of my lifetime.

Goran_K says

"will probably" doesn't indicate much to me.

With Goldman Sachs background that you have, I would think you could plug in some numbers into Excel and see that 5 years is a possibility to add 10T more on top of what Trump started with. So probably is probable.

HeadSet says

Someone with a $500 weekly check will not have a $400k mortgage.

Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.

anotheraccount says

HeadSet says

Someone with a $500 weekly check will not have a $400k mortgage.

Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.

Don't buy an overpriced shack. Called price discovery.

Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.

If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall. The experience of the last 50 years shows that rates and prices tend to balance to keep the same monthly payment. So a person who is looking to buy after rates rise will see house prices come down. And as Patrick has pointed out, for the same monthly payment, it is best to have a low price and high interest that to have high price and low interest. This is especially true if one takes the prudent path of using extra cash to pay off the home, with idea of owning the home outright.

HeadSet says

If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall.

don't think so. The super rich who are getting most of the tax cut will use it to buy up those properties and rent them out to you at higher rent.

bob2356 says

ROFLOL. How much of the tax cut is going to people to use for day to day actvities/bills and how much is for stock buybacks/dividends? Please let us have the numbers. The suspense is killing me.

There is no tax break for stock buybacks, therefore none of it is going for stock buybacks.
Is there anything else I can help you with to ease any more suspense?

Funny how this forum has changed. i am saying the same things that I said during Obama years. The difference now is that my posts are getting dislikes and then they used to get likes from the same characters.

5lbsbrowntrout says

If the economy is at near full employment what is the sense in a tax cut?

Could be the other way round. The anticipation of tax cuts was enough to cause an investment and hiring boom.

anotheraccount says

HeadSet says

If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall.

don't think so. The super rich who are getting most of the tax cut will use it to buy up those properties and rent them out to you at higher rent.

Your last statement has got to sound hollow and "grabbing at straws" even to you.

HeadSet says

anotheraccount says

HeadSet says

If the interest rates rise (especially in areas where houses can be bought with $100k mortgage), then the prices of houses will fall.

don't think so. The super rich who are getting most of the tax cut will use it to buy up those properties and rent them out to you at higher rent.

That last statement has got to sound hollow and "grabbing at straws" even to you.

Agreed. Does not compute.

Strategist says

There is no tax break for stock buybacks, therefore none of it is going for stock buybacks.
Is there anything else I can help you with to ease any more suspense?

You somehow haven't seen any news since the tax cut? The number is at 200 billion in 2 months and growing rapidly.

Booger says

bob2356 says

Spending and debt are going up, up, up and

Reduced welfare rolls and increases in tariffs will fix this

I'm hoping this is a joke. No one could be that clueless about federal spending. At least I don't think it's possible.

Sniper says

bob2356 says

How much of the tax cut is going to people to use for day to day actvities/bills

Just everyone who brings home a regular paycheck.

Good tap dance . The question was how much of the tax cut is going to people to use for da to da activities/bills.

Sniper says

bob2356 says

TARP was under bush. Reagan signed the largest tax increase in peace time.

What did Obama sign?

The American Recovery and Reinvestment Act of 2009 (ARRA) (Pub.L. 111–5), nicknamed the Recovery Act, was a stimulus package enacted by the 111th U.S. Congress and signed into law by President Barack Obama in February 2009.

You said obama bailouts. This isn't a bailout Sorry epic fail,

The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.

TwoScoopsPlissken says

The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.

It's the audacity of hope, you nazi.

TwoScoopsPlissken says

The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.

Great post. Will reuse.

bob2356 says

Just everyone who brings home a regular paycheck.

Good tap dance . The question was how much of the tax cut is going to people to use for da to da activities/bills.

I'll repeat it again, since you seemed to miss it the FIRST time.

Sniper says

It may not be big to you, but people getting an extra $30 in their check of $500 pays for a tank and a half of gas each week.

Shall I help with what percentage of their check that is?

TwoScoopsPlissken says

The Democrat View of the Economy:

1. The American Dream is over, never to return.
2. Good paying Middle Class Blue Collar jobs are done with, never to return.
3. Many other jobs will quickly fall to Automation.
4. Therefore, we need to help millions of immigrants achieve the American Dream that doesn't exist, taking the handful of remaining decent blue-collars Jobs that are on the verge of extinction.
5. Any one who disagrees denies this unavoidable reality is a Bigoted, Ignorant, Xenophobic Racist.

Excellent!

anotheraccount says

Ok. Let's say it's 100K mortgage. The mortgage cost still outweighs the tax benefit. Let's assume this person was planning to buy a house this year.

Why do you hate renters?

Sniper says

bob2356 says

Just everyone who brings home a regular paycheck.

Good tap dance . The question was how much of the tax cut is going to people to use for da to da activities/bills.

I'll repeat it again, since you seemed to miss it the FIRST time.

You never answered any time. Repeating a non answer doesn't make it any more of an answer. Would you like me to repeat the question typing slower and using smaller words?