How could anyone have known?

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DandyDon
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How could anyone have known?

#1

Post by DandyDon »

Study: the Trump tax cut had no effect on GDP, wages, or growth

The growth effects tend to show a relatively small (if any) first-year effect on the economy,” said the report from the CRS, a nonpartisan think tank that produces economic analyses for members of Congress.

Though Trump bragged that the tax cuts would pay for themselves, the report found that the growth spurred by the tax cuts amounted to 5% or less of the growth needed to fully offset the revenue loss from the Act,” or just 95% short of Trump’s estimate.

https://www.everycrsreport.com/reports/R45736.html
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CaptQuint
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Re: How could anyone have known?

#2

Post by CaptQuint »

Corporations paid $91 billion less in taxes in 2018 under Trump's tax law

https://finance.yahoo.com/news/corporat ... 45447.html
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spudoc
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Re: How could anyone have known?

#3

Post by spudoc »

Biker wrote: Thu May 30, 2019 10:31 pm I paid significantly less taxes for last year. In fact, I got cash back (first time since the 1990s)

Im sure was just an anomaly though, right?
People have to pay taxes on allowances from their spouse? Who knew?
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Re: How could anyone have known?

#4

Post by Reservoir Dog »

Biker wrote: Thu May 30, 2019 10:31 pm I paid significantly less taxes for last year. In fact, I got cash back (first time since the 1990s)

Im sure was just an anomaly though, right?
Perhaps you could donate that extra cash to help pay off your soaring national debt?
CentralTexasCrude wrote: Tue Mar 30, 2021 2:00 am You both fucked up. You trusted me.
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CaptQuint
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Re: How could anyone have known?

#5

Post by CaptQuint »

Send it to some poor struggling soybean conglomerate?
Any damn fool can navigate the world sober. It takes a really good sailor to do it drunk
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Reservoir Dog
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Re: How could anyone have known?

#6

Post by Reservoir Dog »

Biker wrote: Thu May 30, 2019 10:55 pm
Reservoir Dog wrote: Thu May 30, 2019 10:51 pm
Biker wrote: Thu May 30, 2019 10:31 pm I paid significantly less taxes for last year. In fact, I got cash back (first time since the 1990s)

Im sure was just an anomaly though, right?
Perhaps you could donate that extra cash to help pay off your soaring national debt?
What makes you think I care about the national debt?
You're right. After all, I'm sure China will bail you out when the time comes.
CentralTexasCrude wrote: Tue Mar 30, 2021 2:00 am You both fucked up. You trusted me.
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FSchmertz
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Re: How could anyone have known?

#7

Post by FSchmertz »

Biker wrote: Thu May 30, 2019 10:31 pm I paid significantly less taxes for last year. In fact, I got cash back (first time since the 1990s)

Im sure was just an anomaly though, right?
And I owed taxes for the first time ever, though I may have gotten a few bucks increase on my paycheck. Not enough to really notice though.

So yeah, it might be an anomaly.
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Wut
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Re: How could anyone have known?

#8

Post by Wut »

Biker wrote: Thu May 30, 2019 10:55 pm
Reservoir Dog wrote: Thu May 30, 2019 10:51 pm
Biker wrote: Thu May 30, 2019 10:31 pm I paid significantly less taxes for last year. In fact, I got cash back (first time since the 1990s)

Im sure was just an anomaly though, right?
Perhaps you could donate that extra cash to help pay off your soaring national debt?
What makes you think I care about the national debt?
Conservatives used to, until 01/17.
wut?
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DandyDon
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Re: How could anyone have known?

#9

Post by DandyDon »

Wut wrote: Fri May 31, 2019 12:49 am
Biker wrote: Thu May 30, 2019 10:55 pm
Reservoir Dog wrote: Thu May 30, 2019 10:51 pm
Biker wrote: Thu May 30, 2019 10:31 pm I paid significantly less taxes for last year. In fact, I got cash back (first time since the 1990s)

Im sure was just an anomaly though, right?
Perhaps you could donate that extra cash to help pay off your soaring national debt?
What makes you think I care about the national debt?
Conservatives used to, until 01/17.
Conservatives are not Republicans. Republicans are the party of Trump, conservatives are extinct.
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CaptQuint
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Re: How could anyone have known?

#10

Post by CaptQuint »

Dems Presidents lower the debt, Republican Presidents raise it
Any damn fool can navigate the world sober. It takes a really good sailor to do it drunk
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Wut
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Re: How could anyone have known?

#11

Post by Wut »

Biker wrote: Fri May 31, 2019 12:58 am
Wut wrote: Fri May 31, 2019 12:49 am
Biker wrote: Thu May 30, 2019 10:55 pm
Reservoir Dog wrote: Thu May 30, 2019 10:51 pm
Biker wrote: Thu May 30, 2019 10:31 pm I paid significantly less taxes for last year. In fact, I got cash back (first time since the 1990s)

Im sure was just an anomaly though, right?
Perhaps you could donate that extra cash to help pay off your soaring national debt?
What makes you think I care about the national debt?
Conservatives used to, until 01/17.
So Dems never care about the debt?
Yes, that's why deficits declined during the last two Democratic presidencies.
wut?
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VinceBordenIII
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Re: How could anyone have known?

#12

Post by VinceBordenIII »

I can tell you this, beach rentals are down in our area this year. That can mean two things: economy is so good people are going to Europe, or economy is on downturn and they are not vacationing or going on cheaper vacations.
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VinceBordenIII
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Re: How could anyone have known?

#13

Post by VinceBordenIII »

Somewhere along the coast. :)
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FSchmertz
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Re: How could anyone have known?

#14

Post by FSchmertz »

Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
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VinceBordenIII
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Re: How could anyone have known?

#15

Post by VinceBordenIII »

FSchmertz wrote: Fri May 31, 2019 3:45 pm Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
Economics would say those costs get passed along, but you can't do that when people aren't renting. We own at a good price, so we make money, but I do a lot of the work myself. If we were paying for all those things we'd be at break even.
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Stapes
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Re: How could anyone have known?

#16

Post by Stapes »

FSchmertz wrote: Fri May 31, 2019 3:45 pm Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.

I grew up in Manasquan, NJ since the 60's. All the beach properties were just summer bungalows and basically the town was just a little sleepy fishing town. If my parents had just a little foresight and bought up some of those beach bungalows they would be worth multi-millions now. damn it.
I blame Biker.
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FSchmertz
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Re: How could anyone have known?

#17

Post by FSchmertz »

Stapes wrote: Fri May 31, 2019 5:12 pm
FSchmertz wrote: Fri May 31, 2019 3:45 pm Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.

I grew up in Manasquan, NJ since the 60's. All the beach properties were just summer bungalows and basically the town was just a little sleepy fishing town. If my parents had just a little foresight and bought up some of those beach bungalows they would be worth multi-millions now. damn it.
Then you could say you're a genius in the real estate business and even have ghost writers write "autobiographical" books about you saying what a stable genius you are?

P.S. And you wouldn't even have to lose billions to get there! ;)
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B-Tender
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Re: How could anyone have known?

#18

Post by B-Tender »

FSchmertz wrote: Fri May 31, 2019 3:45 pm Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
Rental units are different. There aren't any limits to morg interest and taxes, that's only on your primary residence.
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Wut
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Re: How could anyone have known?

#19

Post by Wut »

B-Tender wrote: Sat Jun 01, 2019 5:45 pm
FSchmertz wrote: Fri May 31, 2019 3:45 pm Considering the new limits on deductions for property and taxes, I'd be surprised if the folks that do summer rentals on the NJ shore aren't taking a hit, and anywhere else that kind of business happens.
Rental units are different. There aren't any limits to morg interest and taxes, that's only on your primary residence.
That seems backwards to me, I'd think it would be better to promote primary home ownership.
wut?
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