Look. I'm not a huge fan of Donald Trump, but even I find the jokes repetitive.
All late night/news: trumps tax plan wont benefit anyone but the rich!
Me as a mechanic: *gets HUGE raise and pays 2 months rent on new home 2x better than current living conditions with money left over*
@MMSieBreeze, thats pretty cool. My company laid off over 500 people less than a week after the new year and sent out a company wide email about how well the company was doing and we should all be proud.
@T9x, that is...very contradictory....and a little confusing to be honest...kind of reminds me of the "this is fine" meme
@T9x, what company do you work for?
@T9x, that's not unusual. A company's stock price often goes up after lay offs if it is to eliminate redundancies.
@MMSieBreeze, that is how it’s meant to work. In the short term, we all get tax breaks and that’s very nice. The criticism of how it’s aimed at helping the wealthy lies in its long-term effects. The benefits for the middle class will end around 2025, but the tax cuts for corporations will remain. It also is meant to remove the estate tax, which only applies to about the top 2% of Americans. Removing these taxes for the rich will have to be made up in other ways, which would fall on the shoulders of the younger, less affluent generations by raising taxes and cutting retirement benefits.
It’s really not just late night hosts who are criticizing this, let me leave you with an article from Forbes because I don’t think that’s a biased source
@MMSieBreeze, I have 3 things to say:
1) Reporting on the bill said it would primarily benefit the rich. It never said nobody else would pay less tax.
2) The bill absolutely does benefit the rich more (Ex: the estate tax that got nerfed only effects estates worth millions of dollars).
3) Regardless of the benefits you see now, it's going to massively increase the national debt. So I hope you've got a lot of savings because I wouldn't count on social security.
@MMSieBreeze, you getting a raise has nothing to do with tax breaks. No matter how much more a company suddenly makes, they aren't gonna be giving bonuses to mechanics. You probably got it because you deserved it. The only bonus you got was the shiny keys tax break that'll expire for you in 4 years.
@Depressed Panda, No, they were telling everyone that their taxes would go up unless they were super rich. Also, don't pretend like you care about raising the national debt.
All these downvotes and no responses. I guess you guys don't like people pointing out how the news loves to lie to you.
@HolyCatchphrase, and you really don’t think the tax cut will get renewed in some way by whatever president is there in 2025? If the government can work together and cut spending then those problems won’t exist. You can make assumptions all you want but we can at least make an attempt to reduce taxes and spending and allow the economy to flourish. Also times continue to change, new technologies, aging work force, you don’t know why layoffs are happening. It could be a number of reasons. I suggest you play your cards right and find work with a company you are certain will be prosperous over the next several decades. In my experience, tech (in America) has boomed over the last year, and my pay check and a lot of other peoples paychecks are getting bigger. And we definitely aren’t rich. Also hiring is through the roof. Advanced tech is what will make your country stronger in the future, so I take this as a really good sign.
@John MFing Froosh, the economy has been flourishing for a long time now. We are currently in one of the longest periods of uninterrupted economic growth in the United States history. That is what makes this bill bizare, tax cuts are generally issued during times of economic depression to stimulate growth. Issuing one when the economy is booming, and the country is at nearly full employment does little to move the needle for anyone besides the very wealthy and corporations
@Depressed Panda, I don't like it but this is just wrong lmfao. First off those first two are the same point basically with the first being a blatant lie. Many middle class people are already paying much less in taxes. The third point is up for debate with some people saying it will be that way unless other changes are made blah blah blah idk enough to explain it but it's not the fact you pretend it is.
@Donald Drumpf, every mechanic at our shop got a massive wage increase...not just me...and it wasnt a small raise....it was a $7/hr raise for everyone as well as a huge bonus at the end of the year
@HolyCatchphrase, the thing about tax breaks "expiring" is that they almost never do, they get renewed. Its a political thing to do that both sides use.
The estate tax is blatant grave robbing that should be unconstitional. Being taxed on income as you make it is one thing, but the goverment taking almost half of your inheritance (that had already been taxed) because the goverment decides you have enough is almost communism. The goverment could seize your house and assets and it wouldnt effect me, doesn't mean its right.
We'll have to see if it does effect the debt, but if it does energize the job market it could very well increase how much tax money is received. Also, the tax cut wouldnt be the problem, our spending is. The US needs to cut its spending, which is already way too much. Letting people keep more of their money isnt a bad thing
@I floop the pig, while technically we've had growth, its also been incredibly slow with stagnant wages and not the best jobs. We needed to do something to turn that growth into something meanigful. We'll see if the tax cuts do that
1) It is not a lie. I regularly read the news and there was no argument that most people wouldn't pay less tax.
2) Math doesn't lie either. When somebody makes over half a million dollars, all of the money past that is taxed at the highest rate (previously 39.6% now 37%) by decreasing that tax rate, the bill has reduced the tax on almost all of any billionaire's income by 2%. Thats a cut of $20000000 per billion dollars of income. And that doesn't even take into account things like the estate tax, which ONLY effects the rich.
3) When the government collects less tax it makes less money and gets more into debt. Congress calculated that the government will increase it's debt by $1,500,000,000,000 in ten years.
As much as you would like to debate them, these are not opinions of mine. They are the mathematically calculated consequences of this bill and they're about as objective as it gets.
@Oujosh29, yes it has been slow. That's because of new regulations placed on financial institutions, and increased caution from other major companies. However, lowering corporate tax rates most likely will not provide long term wage growth. This is because, while it may bring more offshore money back into the US economy, it does not incentives companies to raise wages. This is because while there is a larger incentive to headquarter business here, many other countries still have much lower tax rates (Ireland for example) that will prevent large scale relocation. In addition to this trickle down has proven ineffective, and the man behind Regan's tax cut himself exclaimed this is not how to raise gdp. Couple this with the explosion to the national debt this will make, without making any real improvement to the country. This 1.5 trillion could be used to improve infrastructure or make other such improvements that have a tangible benefit, that creates middle class jobs for laborers
@I floop the pig, "explosion of the debt". The estimate is 1.5 trillion over a decade, and after the 10 trillion added under Obama's 8 years 1.5 in a decade is hardly an explosion. Even if that estimate doesnt prove to be wrong, it would be congresses fault for not cutting spending.
@Oujosh29, 1.5 under one measure, this doesn't account for other changes that will happen during that time. Also, blue states are being targeted here to a far greater extent than red States. The elimination of SALT deductions hurts a lot of people.
@I floop the pig, legistaion hurts states differently, its always been that way. Some time its red states, some times blue. Obamacare caused premiums to rise a lot more in red states than blue. But eliminating a bunch of deductions is a good thing, taxes should be less complicated, not more. Those blue high tax states should look at why their state/property taxes are so high. The way it was before, high state tax states were getting free give aways on the federal level.
@John MFing Froosh, I have an independent business, I’m doing fine. Do I think this is good for the economy? I don’t know, I’m not an economist. Which is why I trust economists, most of whom agree that this is not good for the economy. It is sending us further into debt as a country and I can’t imagine it would be renewed because as I said they do need to make up for the money they’re losing somehow, where will it come from?
@MMSieBreeze, me as a refinery worker. I can only get a raise if the big company I work for is making money. So bring on the tax cuts for businesses
@Depressed Panda, "the news" good source. But I thought you were saying taxes were going up for the middle that is my mistake. But my original point was you had two bullets for basically the same point. But the debt increasing will only happen if other changes are made to lower spending. I completely agree that the upper class is gaining the biggest advantage. But I see others already beat me to correcting you anyway. Look at more than one "news".
@Depressed Panda, also still debatable. you know how everyone uses the numbers that appear to beat support their cause
“I enjoy Jimmy Kimmel’s nightly political rant.” said nobody.
@Jolee Bindo, I liked the one where he said that Republicans were holding CHIP hostage when the Republicans were trying to take money from rich old people to fund CHIP for the next five years but the Democrats shot it down because it also included a stipulation that you had to pay your monthly health insurance bill within a month after it's due instead of having three months after it's due to pay it.
@Jolee Bindo, remember has Oscars where Jimmy Kimmel gave a section of the show dedicated to Donald Trump? Man I was grinding my teeth most of that time.
You can don’t that! He’s the President!
@Nurse Joy, yOu CAn doNt ThAt! heS tHE prEsidEnt!
“As if I really look like that”
Trump is an idiot
@Spartan Adlai, whatever you say snowflake
*Donald trump on his critics
I honestly dont disagree with all of trumps policies, i just dont like him as a person. Yknow
Cause hes a big fat meanie.
Mmm Donald writes new material every day
Well he is a p.o.s.
Um uh....ummm....politics? Did I do it right? Did I? Oh jeez. I’m sorry I’ll go. I’m so sorry
Big fake meanies*