80% of tax cut benefits go to foreigners

[g5000]

Trump signed a bill to remove any limits on the federal debt until after the election, and the pseudocons just sit there and take it.

Trump stole $1.5 trillion from our children, and the pseudocons just sit there and take it.

Trump increased spending, and decreased revenues, and the pseudocons just sit there and take it.

Trump thinks you can increase your credit card limit and lower your monthly payments at the same time!

And the cucks just sit there and take it up the ass.

 

[ABikerSailor]

You know, when I retired, I spent a lot of time figuring out my withholding tax from my retirement check. I wanted April 15th to be as pain free and hassle free as possible. And, I managed to get it so close that on some years I have to send the government a buck or two, on other years, they end up sending me a buck or two.

Last year, the government owed me 1.53. This year, I owed the government 50 cents.

But, I also noticed that after the tax bill, my retirement check went up by about 20 bucks a month because of the new withholding taxes.

Still on the fence on this one. If I end up owing 240.00 next year because they messed up my taxes, I'm gonna be pissed.

And yeah, my tax bill for this year still came out to a bit over 850.00, so I didn't really notice any big windfall, because I paid the same amount this year that I paid last year.

 

[harmonica]

good .....that's good...I like it

 

[william the wie]

Actually reading the report, everything looks pretty darn good, until they throw in when the tax cuts are set to expire and how many businesses and individuals traditionally react just before such occurrence, which is in 10 years-

Investment
In CBO’s analysis, the tax act boosts investment, on net, and therefore increases potential output. The main factors that tend to increase investment are changes in the user cost of capital, incentives for some businesses to locate production in the United States, and other increases in economic activity. Those factors are partially offset by increased federal borrowing, which tends to decrease investment.

https://www.cbo.gov/system/files/11...atethemacroeconomiceffectsofthe2017taxact.pdf

What may be confusing everybody is that this is the kind of problem that needs disintermediation, this kind of average doesn't mean squat so you have to look at the individual data points, the states.

TX, FL and TN are doing great economically.

CA, IL, MA, NJ & NY are in deep to deepest trouble.

The 42 states in between are all over the map.

 

[g5000]

You know, when I retired, I spent a lot of time figuring out my withholding tax from my retirement check. I wanted April 15th to be as pain free and hassle free as possible. And, I managed to get it so close that on some years I have to send the government a buck or two, on other years, they end up sending me a buck or two.

Last year, the government owed me 1.53. This year, I owed the government 50 cents.

But, I also noticed that after the tax bill, my retirement check went up by about 20 bucks a month because of the new withholding taxes.

Still on the fence on this one. If I end up owing 240.00 next year because they messed up my taxes, I'm gonna be pissed.

And yeah, my tax bill for this year still came out to a bit over 850.00, so I didn't really notice any big windfall, because I paid the same amount this year that I paid last year.

Whatever tiny benefit you got from the fake "reform", hold onto it. You are going to need every penny, and then some, to pay for skyrocketing TrumpCare costs.

 

[ABikerSailor]

You know, when I retired, I spent a lot of time figuring out my withholding tax from my retirement check. I wanted April 15th to be as pain free and hassle free as possible. And, I managed to get it so close that on some years I have to send the government a buck or two, on other years, they end up sending me a buck or two.

Last year, the government owed me 1.53. This year, I owed the government 50 cents.

But, I also noticed that after the tax bill, my retirement check went up by about 20 bucks a month because of the new withholding taxes.

Still on the fence on this one. If I end up owing 240.00 next year because they messed up my taxes, I'm gonna be pissed.

And yeah, my tax bill for this year still came out to a bit over 850.00, so I didn't really notice any big windfall, because I paid the same amount this year that I paid last year.

Whatever tiny benefit you got from the fake "reform", hold onto it. You are going to need every penny, and then some, to pay for skyrocketing TrumpCare costs.

Only if Trump privatizes the VA. Currently, because I'm retired military, the VA takes care of all my health care needs.

They also take care of my optical needs. I get a new pair of glasses every year from the VA, as well as a really thorough eye exam.

The only thing they won't take care of (which I think is wrong) is dental.

 

[g5000]

You know, when I retired, I spent a lot of time figuring out my withholding tax from my retirement check. I wanted April 15th to be as pain free and hassle free as possible. And, I managed to get it so close that on some years I have to send the government a buck or two, on other years, they end up sending me a buck or two.

Last year, the government owed me 1.53. This year, I owed the government 50 cents.

But, I also noticed that after the tax bill, my retirement check went up by about 20 bucks a month because of the new withholding taxes.

Still on the fence on this one. If I end up owing 240.00 next year because they messed up my taxes, I'm gonna be pissed.

And yeah, my tax bill for this year still came out to a bit over 850.00, so I didn't really notice any big windfall, because I paid the same amount this year that I paid last year.

Whatever tiny benefit you got from the fake "reform", hold onto it. You are going to need every penny, and then some, to pay for skyrocketing TrumpCare costs.

Only if Trump privatizes the VA. Currently, because I'm retired military, the VA takes care of all my health care needs.

They also take care of my optical needs. I get a new pair of glasses every year from the VA, as well as a really thorough eye exam.

The only thing they won't take care of (which I think is wrong) is dental.

You are fortunate. Most Americans are suffering mightily under TrumpCare.

"You are going to have such great health care at a tiny fraction of the cost, and it will be so easy!"

Also, the VA does not cover the medical needs of the families of vets. So they are subjected to the heavy costs of TrumpCare.

 

[The VOR]

Newsweek.....

Hey stupid, the CBO (Congressional Budget Office) are the ones stating these facts, not Newsweek. Newsweek --- a legitimate news organization, unlike the bullshit sites you consider to be legitimate news organizations such as breitbart, gateway pundit, infowars, etc... --- is simply reporting what the CBO is stating.

 

[ABikerSailor]

You know, when I retired, I spent a lot of time figuring out my withholding tax from my retirement check. I wanted April 15th to be as pain free and hassle free as possible. And, I managed to get it so close that on some years I have to send the government a buck or two, on other years, they end up sending me a buck or two.

Last year, the government owed me 1.53. This year, I owed the government 50 cents.

But, I also noticed that after the tax bill, my retirement check went up by about 20 bucks a month because of the new withholding taxes.

Still on the fence on this one. If I end up owing 240.00 next year because they messed up my taxes, I'm gonna be pissed.

And yeah, my tax bill for this year still came out to a bit over 850.00, so I didn't really notice any big windfall, because I paid the same amount this year that I paid last year.

Whatever tiny benefit you got from the fake "reform", hold onto it. You are going to need every penny, and then some, to pay for skyrocketing TrumpCare costs.

Only if Trump privatizes the VA. Currently, because I'm retired military, the VA takes care of all my health care needs.

They also take care of my optical needs. I get a new pair of glasses every year from the VA, as well as a really thorough eye exam.

The only thing they won't take care of (which I think is wrong) is dental.

You are fortunate. Most Americans are suffering mightily under TrumpCare.

"You are going to have such great health care at a tiny fraction of the cost, and it will be so easy!"

Also, the VA does not cover the medical needs of the families of vets. So they are subjected to the heavy costs of TrumpCare.

You know, there were several times early in my career that I thought it would be better in the civilian world because I could make more money. But, because really good assignments kept coming up, and I was doing all right, I decided to stick it out.

Good thing that I did, because otherwise, I might not still be here. When the recession hit under Jr., the only thing that kept me afloat was my retirement check.

 

[Toddsterpatriot]

Newsweek.....

Hey stupid, the CBO (Congressional Budget Office) are the ones stating these facts, not Newsweek. Newsweek --- a legitimate news organization, unlike the bullshit sites you consider to be legitimate news organizations such as breitbart, gateway pundit, infowars, etc... --- is simply reporting what the CBO is stating.

Where is a link to the actual CBO report?
I didn't see it in the Newsweek article.

 

[Meathead]

Newsweek.....

Hey stupid, the CBO (Congressional Budget Office) are the ones stating these facts, not Newsweek. Newsweek --- a legitimate news organization, unlike the bullshit sites you consider to be legitimate news organizations such as breitbart, gateway pundit, infowars, etc... --- is simply reporting what the CBO is stating.

Link? Newsweek doesn't cut it. Fake news.

 

[g5000]

You know, when I retired, I spent a lot of time figuring out my withholding tax from my retirement check. I wanted April 15th to be as pain free and hassle free as possible. And, I managed to get it so close that on some years I have to send the government a buck or two, on other years, they end up sending me a buck or two.

Last year, the government owed me 1.53. This year, I owed the government 50 cents.

But, I also noticed that after the tax bill, my retirement check went up by about 20 bucks a month because of the new withholding taxes.

Still on the fence on this one. If I end up owing 240.00 next year because they messed up my taxes, I'm gonna be pissed.

And yeah, my tax bill for this year still came out to a bit over 850.00, so I didn't really notice any big windfall, because I paid the same amount this year that I paid last year.

Whatever tiny benefit you got from the fake "reform", hold onto it. You are going to need every penny, and then some, to pay for skyrocketing TrumpCare costs.

Only if Trump privatizes the VA. Currently, because I'm retired military, the VA takes care of all my health care needs.

They also take care of my optical needs. I get a new pair of glasses every year from the VA, as well as a really thorough eye exam.

The only thing they won't take care of (which I think is wrong) is dental.

You are fortunate. Most Americans are suffering mightily under TrumpCare.

"You are going to have such great health care at a tiny fraction of the cost, and it will be so easy!"

Also, the VA does not cover the medical needs of the families of vets. So they are subjected to the heavy costs of TrumpCare.

You know, there were several times early in my career that I thought it would be better in the civilian world because I could make more money. But, because really good assignments kept coming up, and I was doing all right, I decided to stick it out.

Good thing that I did, because otherwise, I might not still be here. When the recession hit under Jr., the only thing that kept me afloat was my retirement check.

I don't know. Most days, I feel like the world's biggest sucker for having served over 20 years. I would have been along much further in a high paying civilian career if I had gotten out after my first enlistment.

But then, I have a member of my family who has required literally millions of dollars of medical care since I retired. We would probably be living in a cardboard box if not for Tricare Prime.

But the fucking Republicans, primarily Paul Ryan, keep trying to take Tricare Prime away from us. It has really challenged my devotion to being a Republican.

I've had to enlist the aid of my Congressman several times to keep Tricare Prime. It's been a real fucking battle for a really long time.

One year, the rules changed and we were booted onto Tricare Standard. I did not know until I started getting the medical bills.

We hit the catastrophic cap in less than a month.

Fucking assholes.

 

[g5000]

Meathead
Toddsterpatriot

Here is the CBO report: https://www.cbo.gov/system/files/115th-congress-2017-2018/reports/53651-outlook.pdf

Projections of federal revenues depend on aggregate income—the total amount of income in the economy— and on the way it is distributed among various categories, such as labor income, domestic corporate profits, proprietors’ income, and interest and dividend income. CBO therefore projects income in those categories over the next 11 years, estimating each category’s share of GDP. The categories that affect revenues most strongly are labor income (especially wage and salary payments) and domestic corporate profits. Increases in U.S. borrowing from abroad imply that a greater share of domestically generated income will flow to foreign investors.

<snip>

Domestic Income Earned by Foreign Investors
Over the next 11 years, U.S. national income (the income that accrues to U.S. residents as measured by GNP) is projected to grow at a slightly slower pace than income from U.S. domestic production (as measured by GDP). GNP is a better measure of the income available to U.S. residents because it includes net international income flows—the income that U.S. residents earn from working and investing abroad minus the income that nonresidents earn from working and investing in the United States. From 2018 to 2028, net international income is projected to fall from 0.9 percent of GDP to roughly 0.4 percent. As a result, in CBO’s projections, GNP grows about 0.1 percentage point less per year than GDP grows over the 2018–2028 period.

Net international income is expected to fall over the next 11 years for two reasons. First, under current law, in CBO’s projections, the amount of net borrowing from foreigners to finance domestic investment increases, as do federal budget deficits. For all but one of the past 35 years, the United States has been a net borrower on world capital markets and thus its net international lending (national saving minus domestic investment) has been negative, on average.10 In CBO’s forecast, net international lending declines from –2.5 percent of GDP in the 2015–2017 period to an average of –3.5 percent from 2018 to 2028. The second reason is that U.S. borrowing from abroad becomes more expensive as interest rates rise in the United States.

 

[g5000]

BluesLegend
depotoo

Also from the CBO report:

Third, tax expenditures reduce the amount of revenue that is collected for any given set of statutory tax rates— and thereby require higher rates to collect a chosen amount of revenue.


BOOM! Your tax deductions, exemptions and credits are stolen from other taxpayers in the form of higher tax rates. When the fuck will you dumb motherfuckers wake up to this fact?

 

[Meathead]

BluesLegend
depotoo

Also from the CBO report:

Third, tax expenditures reduce the amount of revenue that is collected for any given set of statutory tax rates— and thereby require higher rates to collect a chosen amount of revenue.


BOOM! Your tax deductions, exemptions and credits are stolen from other taxpayers in the form of higher tax rates. When the fuck will you dumb motherfuckers wake up to this fact?

Where's the 80% dingbat?

 

[RealDave]

According to the CBO.

80 percent of economic gains from Trump tax plan will end up going to foreigners, CBO Says

So LefTards will be throwing parties and celebrating these new findings then?
They’ll be extremely happy if they find out most of the gains will end up in Mexico...homeland of their new constituency.

The "leftards" voted against it.

Your party voted for it.

Trump loved it.

So really...

 

[RealDave]

Newsweek.....

Funny chit. The only response you morons have is "OMG OMG OMG Fake News!!!! Fake News!!!!!!

 

[RealDave]

According to the CBO.

80 percent of economic gains from Trump tax plan will end up going to foreigners, CBO Says

If the economic impact from GDP is higher than GNP, the difference between the two is income generated in the United States but going to foreigners.

So if a foreign manufacturer opens a factory here and pays salary to Americans of $1 billion, but earns an income of $100 million, that's proof the tax plan was a bad idea?

So your idea of making America great is for foreign companies to profit from using us as their labor source.

The selling of Americans.

 

[RealDave]

According to the CBO.

80 percent of economic gains from Trump tax plan will end up going to foreigners, CBO Says

If the economic impact from GDP is higher than GNP, the difference between the two is income generated in the United States but going to foreigners.

So if a foreign manufacturer opens a factory here and pays salary to Americans of $1 billion, but earns an income of $100 million, that's proof the tax plan was a bad idea?

Remember liberals are dumb as a post. You are talking about the party who has vowed to take the tax cut back if elected. Nothing dumber than a left wing Democrat

Lets review;

Cklinton balanced the budgert

Bush's tax cuts led us to the worsrt recession in 80 years.

Obama cut the deficit by over half.

Trump just soared it to over a trillion. How? TAX CUTS for wealthy people & corporations.

You people are just plain dumber than shit.

 

[RealDave]

According to the CBO.

80 percent of economic gains from Trump tax plan will end up going to foreigners, CBO Says

If the economic impact from GDP is higher than GNP, the difference between the two is income generated in the United States but going to foreigners.

So if a foreign manufacturer opens a factory here and pays salary to Americans of $1 billion, but earns an income of $100 million, that's proof the tax plan was a bad idea?

Remember liberals are dumb as a post. You are talking about the party who has vowed to take the tax cut back if elected. Nothing dumber than a left wing Democrat

The tax cuts were paid for by stealing $1.5 trillion from your kids.

And you just sit there and take it.

Well Nancy, were you concerned at all about the money Obama spent? Where are your outrage posts about the trillions that the Muslim penned and phoned away? How about our tax dollars that just waltzed out the door, hopped on a plane, got laundered in Switzerland, and was gifted to Iran? You just sat and took it right? When Obama said he had to launder the money because you can't just send it to Iran, he lied. He had already sent them un-laundered money. And you just sat there and took it.
shut up....

Jesus Fuck you are one stupid person. The money was owed to Iran, it was their money.

You assholes bend over every fucking day & beg for Trump to shove it to you. My God.