• What do you think of the GOP tax plan?

  • Discuss current events / serious things here. Needless flaming / idiocy are grounds for banning.
Discuss current events / serious things here. Needless flaming / idiocy are grounds for banning.
 #87100  by JohnnyP
 Sat Dec 02, 2017 6:36 am
Losers complain about procedure. Now, that it's passed new projections have the GDP going to 4%. If that happens the 1 trillion dollar deficit turns into a 3 trillion surplus. Then add to that the 2-4 trillion in overseas holdings coming back into the US.
Think of all the money you can spend with that. We all know you leftists have never seen a new government program you didn't like.
BDR529 liked this
 #87123  by JohnnyP
 Sat Dec 02, 2017 9:38 am
edsbrian wrote:
Sat Dec 02, 2017 9:25 am
Politics and taxes? What next, AARP threads? You boring old fuckers!
Well this is a thread on taxes. Maybe you should hang out over on the Himalayan salt dicks thread.
 #87125  by kocher
 Sat Dec 02, 2017 9:53 am
It takes a gross negligence to history and basic logic to think this will benefit the average citizen. In '04 Congress invited corporations to bring their overseas earnings at a reduced rate in an attempt to yield invesments, but used 90% of their windfall buying back their shares.
 #87131  by JohnnyP
 Sat Dec 02, 2017 10:33 am
kocher wrote:
Sat Dec 02, 2017 9:53 am
It takes a gross negligence to history and basic logic to think this will benefit the average citizen. In '04 Congress invited corporations to bring their overseas earnings at a reduced rate in an attempt to yield invesments, but used 90% of their windfall buying back their shares.
That's a complete lie. They used the money to pay dividends in their US based companies.
https://mobile.nytimes.com/2008/06/24/b ... 33715.html?
"In all, 843 corporations took advantage of the offer, according to recent IRS statistics of income data, bringing back $362 billion in foreign profits, paid to the parent corporations as dividends."

"The tax break was included in a larger piece of legislation called the American Jobs Creation Act of 2004, with the intention that the repatriated money would prompt investment in the United States economy and spur job growth. Companies had to promise to use the money to invest in their domestic operations. They could not use it to pay dividends, or compensate executives."

"Supporters of the tax break say it was a success because it brought about $18 billion into Treasury coffers that otherwise would have stayed overseas. The nonpartisan Joint Committee on Taxation, a congressional agency, had estimated that the tax break would bring in only $2.8 billion, a sixth the actual amount.

"The provision was generally successful in prompting the repatriation of vast sums of foreign profits," wrote Joseph Calianno, a tax partner at Grant Thornton, in a recent analysis of the data."
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 #87158  by SkeetDixon
 Sat Dec 02, 2017 12:38 pm
almostapathetic wrote:
Sat Dec 02, 2017 12:18 pm
Demeter wrote:
Sat Dec 02, 2017 12:04 pm
Dear god it actually passed. RIP America.
Excuse me, miss, please quiet your tone and exit the thread. Thank you.
Like that stupid bitch knows anything about it. She just lives off the taxpayer thanks to having a deceased father and being poor. She's basically a niqqer.