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Shocking. who would have thunk it.

By bob2356 follow bob2356   2018 Feb 28, 11:40pm 2,504 views   4 comments   watch   nsfw   quote   share    


So the projections are in for the first quarter under our brand new shiny tax cut. Investments are up 6.8%. That's the best since 2014 when the schwartza was running the country without a tax cut. But look, what's this? .Stock buybacks are at record levels. Way record levels at 178 billion for the quarter. Looks like executives and stockholders are getting Xmas in March (and every month) this year. How would have thunk it. After all we had a tax holiday in 2005 that was going to boost the economy and create jobs. Oh wait that was spent on boosting stock prices also. Nice to be consistent.

Perfect, the government is borrowing money to give to the 1%. What a great country this America.

Can I say I told you so now?

https://www.nytimes.com/2018/02/26/business/tax-cuts-share-buybacks-corporate.html?rref=collection%2Fissuecollection%2Ftodays-new-york-times&action=click&contentCollection=todayspaper®ion=rank&module=package&version=highlights&contentPlacement=1&pgtype=collection
1   anonymous   ignore (null)   2018 Mar 1, 5:06am     ↓ dislike (0)   quote   flag        

Perfect, the government is borrowing money to give to the 1%. What a great country this America.


——————-

At least Trump is getting top dollar for our debt, unlike the Kenyan Usurper who can’t hold a candle to Trumps business skills, who sold our nations debt on the cheap!
2   anonymous   ignore (null)   2018 Mar 1, 6:31am     ↓ dislike (0)   quote   flag        

bob2356 says
Perfect, the government is borrowing money to give to the 1%.
Are the 1% the only ones who can invest in the stock market?
3   bob2356   ignore (4)   2018 Mar 1, 6:32am     ↓ dislike (0)   quote   flag        

Feux Follets says
I see no reason to believe that” it will be different this time.


The last time was the 2005 tax holiday. I wonder where all the tax cut money went that time. Oh right the investors opened lot's of new businesses, hired lots of people, and drove up wages a lot for the bottom 99%. Or maybe not. Maybe housing went up 50% and stocks almost doubled before both crashing in late 2008. Fasten your seat belts, it's going to be a bumpy flight.
4   bob2356   ignore (4)   2018 Mar 1, 7:14am     ↓ dislike (0)   quote   flag        

PrivilegedtobeWhite says
bob2356 says
Perfect, the government is borrowing money to give to the 1%.
Are the 1% the only ones who can invest in the stock market?


Anyone can if they have money. The richest 10% have 84% of stocks. Shocking, the people with money own the stocks. The people with money can spent huge amounts of money lobbying fo laws that actually have the government borrowing to give them more money..
http://time.com/money/5054009/stock-ownership-10-percent-richest/

I was never against a corporate tax cut. If it were used as an opportunity to clean up the tax code, eliminating thousands of special interest perks. Instead we got a giveaway without cleaning up anything.

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