I still read and hope for the glory days.
The deficit is sky rocketing.This week, the U.S. Treasury Department released the nation’s monthly bank statement, revealing a deficit of $779 billion – a six-year high and a nearly 17 percent increase year-over-year from $666 billion in 2017. According to Stan Collender, one of the leading experts on federal spending, the Trump administration may be responsible
rickyp wrote:So its been a year... How has the Trump tax plan actually worked?
- Most of the corporate tax cuts went to stock buy backs. Increasing the value of the stock but not doing anything regarding investment in the US or increased employment or employees' wages...
https://observer.com/2018/08/trump-tax- ... -buybacks/
Tax refunds are down 8.4% from last year for most middle class people..
https://www.rawstory.com/2019/02/irs-ta ... py-people/The deficit is sky rocketing.This week, the U.S. Treasury Department released the nation’s monthly bank statement, revealing a deficit of $779 billion – a six-year high and a nearly 17 percent increase year-over-year from $666 billion in 2017. According to Stan Collender, one of the leading experts on federal spending, the Trump administration may be responsible
https://www.foxbusiness.com/economy/the ... o-779b-why
The rich got richer... ..
freeman3 wrote:According to Department of Labor stats median weekly wages have gone up 4.5% ($857 to $897)from the first quarter of 2017 to the fourth quarter of 2018. In constant 1982-1984 dollars weekly median wages have gone up from $351-$355 (1.1%) during that time. The Dow was 19,927.11 at the end of 2016 and 25,046.87 at the end of 2018, a 20.5% growth in the index. The Dow grew at a rate 4.5 times that of median wages.
. Helping low and medium wage individuals is more important to them then their relative income. You can buy groceries and gas (the price of which is going down partly because of deregulation) with absolute increases in your income
President Donald Trump and the Republicans’ tax cut is proving to be vastly more generous for corporate America, and vastly more expensive for taxpayers, than expected. Worse, the Trump Slump is erasing the bump the stock market received from the tax cuts. And evidence is mounting that the promised economic boost isn’t materializing. The administration’s signature political achievement is being eclipsed by disarray over trade, immigration and a government shutdown.
First, the headline number: $600 billion, at least. That’s how much more than expected I estimate the companies in the S&P 500 are on pace to save. It is also how much more the tax cut is likely to add to the national debt if it runs as planned for 10 years. The total savings for all of corporate America will be well into the 13 figures.
Ray Jay wrote:tax refunds are a meaningless statistic since it is just a function of how much you are having withheld from your paycheck.
.I agree, tax refunds, or lack thereof, are completely meaningless, even misleading
bbauska wrote:Your denigration of "Trump voters" belies your bias. That is neither here nor there, however. Many of the ones that I speak with are happy about the increased paychecks.
What do the "Trump voters" you speak with have to say, RickyP?
?What do the "Trump voters" you speak with have to say, RickyP
But it stems mostly from a misperception. H&R Block had noticed the confusion as early as this past November, when its survey showed that nearly half (47 percent) of Americans expected that tax cuts would mean they would get a bigger refund, says Ms. Ebel. But that’s not how it has worked out.