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Looks like we all get big Tax cuts... Cause that's one thing Repugs can agree on!


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2017 Mar 24, 1:40pm   14,524 views  43 comments

by BoomAndBustCycle   ➕follow (1)   💰tip   ignore  

ACA is here to stay... Well here to die a long slow death of neglect in Red States and hopefully continue to flourish in CA.....

But now they can all get to cutting federal taxes to make it up to their overlords. And the middle class will get a nice crisp $100 bill back after their tiny tax cut crumbs.

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1   🎂 Tenpoundbass   2017 Mar 24, 2:18pm  

Nope this is all part of the deal.
Trump is now blaming the Democrats for it failing.
Trump just want's someone to put it on his desk so he can invoke his plan.
Just wait until he starts doing town halls blaming the Democrats for not letting it get done.

2   🎂 Tenpoundbass   2017 Mar 24, 2:19pm  

Trump's play with Paul Ryan has landed Paul in the hot seat, there is calls to remove him now.
If Trump had resisted Paul Ryans plan all along then this would be on Trump.

3   BoomAndBustCycle   2017 Mar 24, 2:35pm  

I think once you eliminate the morons that thought ACA care and Obamacare were two different things.... You would have more support for ACA/Obamacare than haters.

The biggest problem I see with ACA care is the wide discrepancy of federal subsidies based on where you live. Depending on what CA zip code you enter... Subsidies can vary widely which makes no sense. In one zipcode the subsidy for a 60 year old making $40k is $650 a month... In another zipcode the subsidy is $250 a month. I don't understand that at all.

I understand why the coverage is different... And plans are different in different ZIPS... But why the subsidy. ACA just needs some tweaks for it to work... Unforntunately it won't happen in the next 4 years.

4   HEY YOU   2017 Mar 24, 4:50pm  

FUCK TAX CUTS!
I want ZIRP on 100's of Millions,Trillions of dollars like
the stupid R's & D's allow the TBTF to access.
Patnetters are FINANCIAL GENIUSES.They don't need loans,
they deal in CASH.

5   FortWayne   2017 Mar 24, 4:56pm  

Tax cuts will grow economy like fertilizer does to corn.

6   FNWGMOBDVZXDNW   2017 Mar 24, 4:58pm  

FortWayne says

economy like fertilizer does to corn.

After a pound or two per acre it does nothing. Too much fertilizer can burn the crop. Taxes work the same way.

7   anonymous   2017 Mar 24, 6:44pm  

Stop spending on the poor, and the tax cuts become cost neutral. Problem solved.

8   marcus   2017 Mar 24, 9:07pm  

All republitards understand the fed tax level to total govt revenue function. As taxes go to zero, government revenues go to infinity. There's a vertical asymptote at taxes equal zero.

When you combine this fact with FW's wisdom that the government is incapable of spending money efficiently, even when they are basically hiring private companies to build roads, bridges, schools, etc., then it becomes clear that the less government spends on the commons the better. That is, until we're basically a third world hellhole, which ironically Trump says we already are.

It might seem like there are contradictions here, but it's all simply part of Trump's genius, which the stoopid libruls are too full of book learnin and their so called "logic" to ever understand.

10   joeyjojojunior   2017 Mar 25, 10:50am  

Being taxed at 40% actually encourages companies to invest their profits back into the business creating jobs. Higher corporate taxes CREATE jobs.

11   anonymous   2017 Mar 25, 11:22am  

joeyjojojunior says

Being taxed at 40% actually encourages companies to invest their profits back into the business creating jobs. Higher corporate taxes CREATE jobs.

I'm sorry bro, but that's ridiculous when talking about big corporations, who park their cash overseas where tax rates are low. The corporate tax rate needs to come down, period.

12   joeyjojojunior   2017 Mar 25, 2:07pm  

just any guy says

I'm sorry bro, but that's ridiculous when talking about big corporations, who park their cash overseas where tax rates are low. The corporate tax rate needs to come down, period.

Thanks for that tip bro, but I'm 100% correct. The fact that a loophole exists does nothing to change that equation.

13   🎂 Tenpoundbass   2017 Mar 25, 5:31pm  

We now move along to Tax cuts, here is where Trump keeps his promise to his voters, and his promise he made to CNN last night.
They will cut the Obamacare mandate out of the taxcode, and let Obamacare collect it privately if they can, but there wont be any IRS association.
That will then of course Kill Obamacare, then the pathetic little Snot Whistle Dems will come running with hat in hand to get the Damn healthcare DONE.
Beleebmeh! He's going to get it done and get it done Bigly!

14   RealEstateIsBetterThanStocks   2017 Mar 25, 5:46pm  

Strategist says

WTF. You don't know your taxes.

Corporations are taxed on their profits first at 40%, and then it's the DIVIDENDS to shareholders that are taxed again at 15%. In other words, you have double taxation.

LOL a know it all is a know nothing.

we need more cab drivers to come in here and teach us finances.

15   bob2356   2017 Mar 25, 6:33pm  

Strategist says

WTF. You don't know your taxes.

Corporations are taxed on their profits first at 40%,

WTF, the tax rate is meaningless. The effective tax is what counts. That is less, sometimes far less than the tax rate. The GAO did a report to congress in 2010 that said the effective corporate federal tax rate was 12.6% and 16.9% with state local, and foreign taxes included. Look up GAO Corporate Income Tax.

You don't know your taxes.

16   anonymous   2017 Mar 26, 4:24pm  

joeyjojojunior says

just any guy says

I'm sorry bro, but that's ridiculous when talking about big corporations, who park their cash overseas where tax rates are low. The corporate tax rate needs to come down, period.

Thanks for that tip bro, but I'm 100% correct. The fact that a loophole exists does nothing to change that equation.

Joeybroscience

17   joeyjojojunior   2017 Mar 26, 4:44pm  

Strategist says

A little bit to the right.

You can tell from the willingness of corporations to hire and retain more employees in the US, based on the expected tax cuts that Trump plans.

OK--as someone who believes that tax cuts lead to more jobs, please explain how this works.

If you cut corporate taxes, it doesn't create any more demand. It just adds to net income. Assuming that corporations already have optimized their labor force to meet demand, why would they hire more people just because net income went up? That would be inefficient and would reduce profits. Why would corporations do this?

18   Strategist   2017 Mar 26, 4:46pm  

bob2356 says

Strategist says

Effective tax rates are always lower due to losses carried forward and other deductions. 2010 was a year we were just getting out of the Great Recession, therefore the effective tax rates would naturally be a lot lower. They are much higher now.

It was a 10 year study that was published in 2010, not a study of 2010. There is a 2016 follow up and no they are not much higher now. Effective tax rates in other countries are much closer to the statutory tax rates because deductions are much more restricted.

Check this out.
https://wallethub.com/edu/corporate-tax-rates/28330/

19   joeyjojojunior   2017 Mar 26, 4:50pm  

Ironman says

Wow....

I'm speechless.... Did you really type that???

Unbelievable....

It's clearly over your head, so best for you to keep quiet.

20   Strategist   2017 Mar 26, 4:57pm  

joeyjojojunior says

Strategist says

A little bit to the right.


You can tell from the willingness of corporations to hire and retain more employees in the US, based on the expected tax cuts that Trump plans.

OK--as someone who believes that tax cuts lead to more jobs, please explain how this works.

If you cut corporate taxes, it doesn't create any more demand. It just adds to net income. Assuming that corporations already have optimized their labor force to meet demand, why would they hire more people just because net income went up? That would be inefficient and would reduce profits. Why would corporations do this?

Good question.
The more profits that Corporations make, the more they are willing to invest in expanding their business even though aggregate demand has not changed.
1. More production at home will displace imports.
2. Increased competition and higher profits will enable some of the profits to be passed on to the consumer. Lower prices will lead to higher demand.
3. Tech companies are always creating new products. Lower taxes leads to more R&D, more investments, more inventions, and demand is created from new products. e.g.
iPhone.

From the top of my head that's all i can think of.

21   joeyjojojunior   2017 Mar 26, 5:12pm  

Strategist says

The more profits that Corporations make, the more they are willing to invest in expanding their business even though aggregate demand has not changed.

No, that's not true. Companies invest based on projected returns.

Strategist says

1. More production at home will displace imports.

Maybe, maybe not. But that has nothing to do with the question at hand.

Strategist says

2. Increased competition and higher profits will enable some of the profits to be passed on to the consumer. Lower prices will lead to higher demand.

Increased competition does not lead to higher profits, but again, not relevant to the question at hand.

Strategist says

3. Tech companies are always creating new products. Lower taxes leads to more R&D, more investments, more inventions, and demand is created from new products. e.g.

iPhone.

I've never seen a company that increases R&D spending because of a tax cut, but if you know one--please show me.

22   joeyjojojunior   2017 Mar 26, 5:13pm  

Ironman says

You're so unbelievably delusional on how business works (based on so many of your past posts, not even counting this one), I don't even know where to start to educate you.

Of course you can't. That would be like a high school dropout trying to educate a PhD. (probably exactly like that)

23   Strategist   2017 Mar 26, 5:32pm  

joeyjojojunior says

I've never seen a company that increases R&D spending because of a tax cut, but if you know one--please show me.

Jesus Christ man. All of them.
WTF is wrong with you.

24   bob2356   2017 Mar 26, 7:17pm  

Strategist says

joeyjojojunior says

I've never seen a company that increases R&D spending because of a tax cut, but if you know one--please show me.

Jesus Christ man. All of them.

WTF is wrong with you.

Really? Maybe you should read Flying High: The Story of Boeing and the Rise of the Jetliner Industry. The reason the 747 and 737 exist is the high tax rates of the 1950's made it a better business choice to reinvest in R&D rather than take a profit.

25   bob2356   2017 Mar 26, 7:50pm  

Ironman says

joeyjojojunior says

I've never seen a company that increases R&D spending because of a tax cut,

Where does the money come from to invest in R & D??? The Tooth Fairy??

Companies don't have any money for R&D until there is a tax cut? You learn something new on patnet every single day.

26   Strategist   2017 Mar 26, 8:04pm  

bob2356 says

Ironman says

joeyjojojunior says

I've never seen a company that increases R&D spending because of a tax cut,

Where does the money come from to invest in R & D??? The Tooth Fairy??

Companies don't have any money for R&D until there is a tax cut? You learn something new on patnet every single day.

Companies have more incentives to invest in R&D with a tax cut. You really do learn more about the BS that goes on by some on Patnet.

27   Strategist   2017 Mar 26, 8:32pm  

Ironman says

Strategist says

You really do learn more about the BS that goes on by some on Patnet.

Isn't it amazing the cluelessness that's some people show on a daily basis..

After two years of the bizarre bullshit I read on Patnet, nothing shocks me.

28   Y   2017 Mar 26, 8:44pm  

How do you know it's not jojo talking?

just any guy says

Joeybroscience

29   Strategist   2017 Mar 26, 8:59pm  

Ironman says

joeyjojojunior says

That would be like a high school dropout trying to educate a PhD. (probably exactly like that)

Very true, but you should really get some self-esteem and not call yourself a high school dropout. I'm trying to help you, but I realize your limitations. I'll try and make it more simple for you in the future.

Hey Joey, I'll be glad to print you out a PhD certificate for $50.00. For another $100.00 i will nominate you for the Noble Prize.

30   bob2356   2017 Mar 26, 9:05pm  

Strategist says

Companies have more incentives to invest in R&D with a tax cut

Ironman says

No, they have MORE!!

Want to document some real life cases of industries where the corporate tax rate was cut and R&D ramped up? I'll wait until the twelfth of never as usual.

31   bob2356   2017 Mar 26, 10:04pm  

bob2356 says

Want to document some real life cases of industries where the corporate tax rate was cut and R&D ramped up?

I'll take pity and give you guys a running start. After the last tax holiday in 2004 where corporations brought back billions in overseas profits at 5.25%, a YUUUGE, tax cut, how much of that money went into R&D? I'll be waiting, and waiting, and waiting while listening to the crickets chirping bohemian rhapsody.

32   bob2356   2017 Mar 26, 10:18pm  

Ironman says

How many retail stores, restaurants, gas stations, home builders, car dealers, insurance companies, lawyers, plumbers, clothing manufacturers, etc. do R&D????

Or, do all those business not pay any taxes and not hire workers?

So you can't answer the question I see.

How many retail stores, restaurants, gas stations, home builders, care dealers, lawyers, plumbers repatriated overseas profits in 2004? Total strawman. Nice try at shuck and jive.

You said the lower corporate taxes on profits the higher the R&D. Just using industries that do R&D, how much of the repatriated profits taxed at an incredibly low rate of 5.25% went into R&D in 2004? I'll be waiting, and waiting, and waiting while listening to the crickets chirping bohemian rhapsody.

33   bob2356   2017 Mar 26, 11:32pm  

Ironman says

bob2356 says

Just using industries that do R&D,

Is that the only industries that benefit from lower tax rates?

Why don't you just quit before you look like a bigger fool.

Keep on shucking and jiving. Can't can't back up your bullshit once again so let's keep changing the argument.

Ironbrain says the lower the corporate taxes on profits the higher the R&D. Once again ironbrains support for his anal orifice source of information comes down to it's true because I believe it should be true.

34   bob2356   2017 Mar 27, 5:57am  

PCGyver says

The reason higher taxes will get companies to invest more in R&D is because R&D is an expense and when you invest your earnings into expenses then you don't get taxed on profits. The treat of taxes makes a company or person invest their earnings into expenses that way keeping their taxes down.

Bingo. Someone who understands basic accounting. Exactly what happened in my example of boeing in the 60's. Company officers have a fiduciary responsibility to use investors money in the most advantageous way to maximize the investors value. Which would be reinvesting in the company rather than paying high taxes. Low taxes would make it more advantageous to pay dividends or buy back stock.

Still waiting for ironbrains examples. Crickets, just crickets. Isn't ironbrain the one who is always accusing people of running away when they are losing an argument? He is the very embodiment of a perfect troll. I notice strategist disappeared also.

35   bob2356   2017 Mar 27, 9:38am  

Ironman says

joeyjojojunior says

I've never seen a company that increases R&D spending because of a tax cut,

Where does the money come from to invest in R & D??? The Tooth Fairy??

Ironman says

The topic of this thread was will lowering taxes give companies more money to invest in whatever they want. YOU decided to go all anal about R&D, (your typical straw man)

Sorry but is was you and joey went off on an R&D strawman. I joined after that when you guys had made R&D the thread subject. You really don't remember what you post do you?

Doesn't matter R&D, investment, expansion, whatever. Money invested by a company doesn't get taxed no matter what the tax rate is. Either it is a business expense or an asset and comes off the income side (depreciated schedule for assets). The decision to invest/expand/R&D or take the profit and distribute the profit is affected by the tax rate. Lower tax rates actually make taking profits a better decision in most cases.

Of course you will never be posting anything to back up your bullshit. It's true because I believe it should be true.

36   FNWGMOBDVZXDNW   2017 Mar 27, 9:48am  

Looks like we all get big Tax cuts... Cause that's one thing Repugs can agree on!

This remains to be seen.

37   bob2356   2017 Mar 27, 12:01pm  

Ironman says

How does a company invest money that they don't have? Do they take a loan from the Tooth Fairy? Would lower taxes give a company more money to invest in what ever they wanted?

They have the money. Taxes are paid out of profits after all expenses. If they use the money for investment it's not taxed. It comes off the income before profits are realized. That works even for a mom and pop business. Any money that is spent running or growing the business isn't taxed.

Profit is what you put in your pocket after investments/growing the business. Higher taxes means less money for a new car or vacation.

Jesus this is accounting 000.

38   joeyjojojunior   2017 Mar 27, 12:39pm  

It's quite hilarious that the most arrogant posters on here like Strat and Ironman know the least about running a business.

So, to recap. Companies invest MORE in a high tax environment.

It is easily explained and can be historically shown to be the case.

39   RWSGFY   2017 Mar 27, 6:06pm  

Taxes are too damn high.

40   missing   2017 Mar 27, 6:25pm  

Jr, only PhD's in math and physics count (but not all of them).

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