www.cnbc.com/amp/2017/09/26/tax-reform- ... -jump.html
Hakik wrote: ↑
Sat Dec 02, 2017 1:22 pm
JohnnyP wrote: ↑
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.
In what kind of magic fairy land do you live that 1 trillion dollar deficit is gonna turn into a 3 trillion surplus. First of all the claim about a 3% boost seems a bit too optimistic. But nowhere near as wild as Trump's promise that it would add $10 trillion to the economy. How naive does he think we are?
The fact is, the economic growth predicted still wouldn't pay for the cost of the tax plan. That's just simple math. You're talking only hundreds of billions to cover trillions in cost. There are still people in America who can add right?
Also, that's in ideal conditions. That's if the stock market doesn't crash any time in the next 10 years. So you can already pretty much scratch out that entire theory.
Also that 2-4 trillion money coming back to the US, is coming back in the pockets of large corporations, mostly Apple's stockpile of cash, and to pay back corporate debts, pay for useless corporate expenses as always, and leave a few breadcrumbs for shareholders. You think large corporations are gonna go "hey America, thanks for everything you did, this one's on us" and you're gonna get that money in your pocket? Or maybe you think Tim Cook is gonna give you a free iPhone
The current GDP is at 3.1% right now. A 1% increase would put it at 4% Paying corporate debt, and dividends helps the shareholders. Also, any investment in increases in production won't be outside the US because the country will be competitive with other nations due to a lower corporate rate. Where did you learn economics the Louie Rocko School of Typewriter Maintenance?
"The United States will see its gross domestic product rise by 1 percent if the government can get tax reform "right," according to the commerce secretary.
Getting U.S. tax reform right is important, because it could add nearly $3 trillion in federal government revenue in the next decade, Wilbur Ross said on Wednesday.
Beyond the federal budget and the lifting of the debt ceiling, the tax program is the "single-most important thing," Ross told CNBC's "Squawk Box."
"Effective tax reform will "increase the gross domestic product growth by 1 percentage point, so 100 basis points," he said, adding that in 10 years, that would amount to "$10 trillion more GDP, $3 trillion more revenues to the federal government."