Even Wall Street thinks this tax bill is a loser

[BlindBoo]

Obama could have prevented this by leading Democrats to pass their own Tax Reform Bill......except Democrats TAKE - they don't give back, and Obama was too busy funding terrorists around the world and illegals inside the US.

^^Russian Active Measure^^. Stop trolling my thread, you Russian troll.

Not trolling - you missed my point.

Democrats could have prevented this when they held a near super majority control of Congress. They could have passed their own Tax Reform...but it was not a priority.

Yeah cause raising taxes during a massive recession, with stock prices tumbling and an economy that was losing a half a million jobs a month, would have been great for the country.......

Trumps populism sure has morphed into elitism mighty fast. Immediately goes for a massive increase in the national debt by pushing a permanent large tax cut for the rich while making the working poor's tiny one temporary.

But spreading lies and sowing deception is part an parcel isn't it?

But then again if Americans are too stupid to remember 8 years ago by falling for that lame attempt then they deserve what they get. They did elect a Dumpster in Trump so it not impossible.

 

[eddiew37]

Obama could have prevented this by leading Democrats to pass their own Tax Reform Bill......except Democrats TAKE - they don't give back, and Obama was too busy funding terrorists around the world and illegals inside the US.

^^Russian Active Measure^^. Stop trolling my thread, you Russian troll.

Not trolling - you missed my point.

Democrats could have prevented this when they held a near super majority control of Congress. They could have passed their own Tax Reform...but it was not a priority.

Yeah cause raising taxes during a massive recession, with stock prices tumbling and an economy that was losing a half a million jobs a month, would have been great for the country.......

Trumps populism sure has morphed into elitism mighty fast. Immediately goes for a massive increase in the national debt by pushing a permanent large tax cut for the rich while making the working poor's tiny one temporary.

But spreading lies and sowing deception is part an parcel isn't it?

But then again if Americans are too stupid to remember 8 years ago by falling for that lame attempt then they deserve what they get. They did elect a Dumpster in Trump so it not impossible.

A Dumpster?? You're far too kind Pure scum is closer

 

[The Derp]

He never stated for banks to extend past what people could afford

Nonsense. Bush's regulators ceased enforcement for lending standards of subprime loans beginning in 2004 and extending through 2007. This was done to generate as many subprime loans as possible that could then be packaged into securities to feed the markets that were clamoring for them.

Democrats had nothing to do with that.

 

[Avatar4321]

According to Goldman Sachs, the former employer of Trump's chief economic adviser, this tax bill will only increase growth 0.3% for 2018 and 2019 before either flat-lining, or producing negative growth beginning in 2020.

Goldman Sees U.S. Tax Cut Boosting Growth 0.3% Point in 2018-19
The U.S. Congress will probably pass tax-cut legislation within the next two weeks, ushering in reductions that will boost economic growth by around 0.3 percentage point for next year and 2019, according to estimates by Goldman Sachs Group Inc.

Goldman Sachs doesn't think the Republican tax bill would be a big boost to the US economy
We note that the effect in 2020 and beyond looks minimal and could actually be slightly negative," the Goldman economists wrote.​

Even Wall Street thinks this bill sucks.

GS sides with big government Democrats.

How not unexpected

 

[BlindBoo]

Obama could have prevented this by leading Democrats to pass their own Tax Reform Bill......except Democrats TAKE - they don't give back, and Obama was too busy funding terrorists around the world and illegals inside the US.

^^Russian Active Measure^^. Stop trolling my thread, you Russian troll.

Not trolling - you missed my point.

Democrats could have prevented this when they held a near super majority control of Congress. They could have passed their own Tax Reform...but it was not a priority.

Yeah cause raising taxes during a massive recession, with stock prices tumbling and an economy that was losing a half a million jobs a month, would have been great for the country.......

Trumps populism sure has morphed into elitism mighty fast. Immediately goes for a massive increase in the national debt by pushing a permanent large tax cut for the rich while making the working poor's tiny one temporary.

But spreading lies and sowing deception is part an parcel isn't it?

But then again if Americans are too stupid to remember 8 years ago by falling for that lame attempt then they deserve what they get. They did elect a Dumpster in Trump so it not impossible.

A Dumpster?? You're far too kind Pure scum is closer

Hey now, Professional Wrestling finest!

 

[The Derp]

GS sides with big government Democrats. How not unexpected

If this tax bill is supposed to be so great for business and the market, why would Goldman Sachs say otherwise? They benefit from a strong economy and market.

 

[eddiew37]

GS sides with big government Democrats. How not unexpected

If this tax bill is supposed to be so great for business and the market, why would Goldman Sachs say otherwise? They benefit from a strong economy and market.

Here Are The Negatives In The Republican Tax Plan, According To Wall Street


by Tyler Durden
Dec 4, 2017 11:45 AM
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Judging by the market's euphoric reaction this morning, the Senate's passage of the tax bill on Saturday is nothing but good news for stocks (well, maybe not the Nasdaq). And indeed, banks - whose effective tax rate is around 30% - and other tax-sensitive companies are surging, with banks are outperforming and sending the KBW bank index up as much as 2.8% to a fresh decade-high (BofA up as much as 3.9% to the highest since Oct. 2008; JPM up as much as 3.4% to record high; Citigroup up as much as 2.7% to highest since Dec. 2008). Even so, as Bloomberg reports, some analysts are sounding a few warnings. Their concerns include: a delay in potential benefits; the need to make fixes in a highly partisan environment; and curbing R&D credits.

Here are the negatives in the Republican tax plan, according to Wall Street:

WELLS FARGO (Christopher Harvey)

• Sees difference between House, Senate timing of corporate tax cut (2018 vs 2019) as significant, with Senate’s 2019 likely to prevail; that means tax overhaul’s potential direct impact to 2018 corporate earnings is likely to be zero
• Feels "great rotation" (out of tech, and into tax-sensitive issues such as banks, small-caps, value-oriented stocks) will need to pause
• Senate’s depreciation policy may counterbalance timing of the corporate tax cut to a degree; notes Senate allows for full expensing of capital investments starting in 2018; in a higher tax environment (no change until 2019), that may pull some spending forward, aiding 2018 growth; also sees strong 1H M&A

COMPASS POINT (Isaac Boltansky)

RELATED VIDEO
Will Senate Bill Help or Hurt GOP Tax Push?

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• A "concerning theme" is emerging: the likely need for fixes next year, while "it isn’t exactly clear how those changes will be made"
• Structural defects in final bill are probable, given it’s being drafted at "warp speed," and most pieces of sweeping legislation require technical corrections; recently, however, lawmakers have been unable to reopen primarily partisan bills (like Dodd Frank, ACA)
• Sees conference committee process as potentially volatile, but expects quick movement, with Trump signing a bill this year

BLOOMBERG INTELLIGENCE (Andrew Silverman)

• Downsides include AMT inclusion, which haircuts or prevents some businesses from being able to take deductions and depreciation (including the R&D credit, which GOP had said they wanted to preserve)
• Also notes slashing state and local tax (SALT) deduction; higher-than-est. repatriation rates (bad for tech, pharma cos.); haircut on taking net operating losses
• Senate bill changes how non-profits and pensions are taxed, likely increases taxes substantially on "unrelated business taxable income"

HORIZON INVESTMENTS (Greg Valliere)

• House/Senate conferees, who will start work on Monday, have "enormous number" of issues to resolve, including whether individual provisions are permanent, whether mortgage deduction will get haircut, when corporate rate cuts begin (2018 or 2019?)
• Veteran tax lobbyists were "incredulous" this weekend over Senate-passed tax bill, which was "hastily patched together with enormous unintended consequences," including retaining corporate AMT, which effectively would kill the R&D tax credit
• Adds bill is still being written and corrected; numbers don’t add up; Republican leaders, led by Paul Ryan, "have made no secret about their next goal," which is major overhaul of the welfare state, including curb growth of Social Security, Medicare, Medicaid as deficits rise; "Democrats, eyeing the next two elections, are salivating"

MOODY’S (Nick Samuels)

• Senate’s overhaul is negative for state and local government finances (most sharply in high-tax states like Calif., N.Y., N.J.)
• Change to SALT deduction would reduce disposable income for many taxpayers, likely outweighing positive effect of lower federal rates on consumption
• SALT change would also hurt financial flexibility by increasing political resistance to tax increases at state, local level

MOODY’S (Christina Padgett)

• Diminished interest deductibility, which is more punitive to highly-leveraged companies, is likely to have negative implications for low-rated speculative grade cos., may outweigh benefits of lower corporate tax rate
• Spec-grade companies pay relatively little in taxes in part due to tax shield from interest deduction
• Leveraged buyouts and industry sectors with highest leverage, weakest coverage of interest expense are among most vulnerable

HEIGHT SECURITIES (Ed Groshans)

• Senate-passed bill amends tax law covering interest deductions on home equity indebtedness
• This "seemingly innocuous" amendment would prevent homeowners from deducting interest on mortgages that are refinanced
• Would likely reduce refinancings for borrowers who’d prefer to maintain mortgage interest deduction for tax purposes

MELIUS (Carter Copeland)

• While tax overhaul may bring some extra profits to defense co. bottom lines and cash flow to shareholders, it may also make the future budget situation much tighter for the Department of Defense by removing "wiggle room in the annual fight for funding"

Source: Bloomberg

 

[Norman]

According to Goldman Sachs, the former employer of Trump's chief economic adviser, this tax bill will only increase growth 0.3% for 2018 and 2019 before either flat-lining, or producing negative growth beginning in 2020.

Goldman Sees U.S. Tax Cut Boosting Growth 0.3% Point in 2018-19
The U.S. Congress will probably pass tax-cut legislation within the next two weeks, ushering in reductions that will boost economic growth by around 0.3 percentage point for next year and 2019, according to estimates by Goldman Sachs Group Inc.

Goldman Sachs doesn't think the Republican tax bill would be a big boost to the US economy
We note that the effect in 2020 and beyond looks minimal and could actually be slightly negative," the Goldman economists wrote.​

Even Wall Street thinks this bill sucks.

How much did they contribute to Hillary's campaign?

They are pissed because the bill puts smaller corporations at a much better position compared to their monolithic asses that the government subsidize again and again.

 

[eddiew37]

According to Goldman Sachs, the former employer of Trump's chief economic adviser, this tax bill will only increase growth 0.3% for 2018 and 2019 before either flat-lining, or producing negative growth beginning in 2020.

Goldman Sees U.S. Tax Cut Boosting Growth 0.3% Point in 2018-19
The U.S. Congress will probably pass tax-cut legislation within the next two weeks, ushering in reductions that will boost economic growth by around 0.3 percentage point for next year and 2019, according to estimates by Goldman Sachs Group Inc.

Goldman Sachs doesn't think the Republican tax bill would be a big boost to the US economy
We note that the effect in 2020 and beyond looks minimal and could actually be slightly negative," the Goldman economists wrote.​

Even Wall Street thinks this bill sucks.

How much did they contribute to Hillary's campaign?

They are pissed because the bill puts smaller corporations at a much better position compared to their monolithic asses that the government subsidize again and again.

NORMAN get back to Cheers They're calling you

 

[The Derp]

How much did they contribute to Hillary's campaign?

$341,000. The majority of donations went to Republicans, according to Opensecrets.

Also, why would a Wall Street bank oppose a tax cut?

They are pissed because the bill puts smaller corporations at a much better position compared to their monolithic asses that the government subsidize again and again.

How does it do that? Explain.

 

[BluesLegend]

Are liberals rooting for failure again?

 

[The Derp]

Are liberals rooting for failure again?

We don't need to root for failure...we already know the results of your shit policies because we just lived through them during Bush the Dumber, and those in Kansas lived through them during Brownback.

 

[BluesLegend]

Are liberals rooting for failure again?

We don't need to root for failure...we already know the results of your shit policies because we just lived through them during Bush the Dumber, and those in Kansas lived through them during Brownback.

Bush is president? Are you one of those BOOOOOOOOOOOOOOSH liberals? lol Just relax the SCOTUS just sided with president Trump smacking the left down hard on Trump's immigration ban and Trump just unraveled Obama's national park land grab. Trump winning each day for the American people heck yeah

 

[Mac1958]

The bigger issue of this whole fiasco is that, if the GOP can't push SOMETHING through, it will be clear that it will simply remain impotent, hapless and unable to govern for the duration. And that would shake markets, especially with everything fully valued.

Right now it looks like something will be shat through, so this may be some kind of relief rally.
.

 

[The Derp]

Bush is president?

So because you're a reactionary troll, the minute you see the word "Bush", you get all hysterical. Bush the Dumber pushed the same stupid tax cut policies you're pushing now. We already know how shitty they are because we lived through them. So why are you still pushing them? Simple; you're either paid to do so, or you have no memory of the past.

Bush = Palin = Romney = Trump

Same shit, different polish.

Are you one of those BOOOOOOOOOOOOOOSH liberals? lol Just relax the SCOTUS just sided with president Trump smacking the left down hard on Trump's immigration ban and Trump just unraveled Obama's national park land grab. Trump winning each day for the American people heck yeah

You've been reported for trolling because this post is not on-topic.

 

[BluesLegend]

Bush is president?

So because you're a reactionary troll, the minute you see the word "Bush", you get all hysterical. Bush the Dumber pushed the same stupid tax cut policies you're pushing now. We already know how shitty they are because we lived through them. So why are you still pushing them? Simple; you're either paid to do so, or you have no memory of the past.

Bush = Palin = Romney = Trump

Same shit, different polish.

Are you one of those BOOOOOOOOOOOOOOSH liberals? lol Just relax the SCOTUS just sided with president Trump smacking the left down hard on Trump's immigration ban and Trump just unraveled Obama's national park land grab. Trump winning each day for the American people heck yeah

You've been reported for trolling because this post is not on-topic.

You brought up Bush not me, did you report yourself?

 

[TyroneSlothrop]

Heywood Jablome shared Dolan Trump's post.
13 hrs ·
Cheer up. Opioids are cheap in your neighborhood.

​

 

[The Derp]

You brought up Bush not me, did you report yourself?

I brought up Bush because he did trickle-down tax cuts just like you want to do now. Since it didn't work before, why would it start magically working now?

 

[BluesLegend]

You brought up Bush not me, did you report yourself?

I brought up Bush because he did trickle-down tax cuts just like you want to do now. Since it didn't work before, why would it start magically working now?

That is your opinion not a fact. You libs, tax increases are your solution to every problem just raise taxes and keep on raising them brilliant. /sarcasm That's why the American people kicked liberals to the curb, took the House away from you, took the Senate away from you, then elected Trump president and took the White House away from you. That's some rejection right there. The left need to take a time out and given thoughtful consideration to why the people have rejected them.

 

[Harpy Eagle]

Even Wall Street thinks this tax bill is a loser

View attachment 164291

DURR!

According to Goldman Sachs, this tax bill will only increase growth by 0.3% for 2018-19 and then either flat-line, or contract the economy beginning in 2020.

That's a loser.

According to Goldman Sachs, this tax bill will only increase growth by 0.3% for 2018-19

Oh no! Increased growth.

Oh no! Increased growth at time of growth. paid for with DEFICITS that ALREADY look disastrous.

Can ANYONE supporting these tax cuts explain to me why this is a good idea?

Looks like a good time to cut government spending.

Too bad we didn't elect anyone that wants to do that.