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Author Topic: Opinion: It’s official: The Trump tax cuts were a bust Published: Jan 30, 2019 8:36 a.m. ET  (Read 614 times)

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Offline libertybele

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Opinion: It’s official: The Trump tax cuts were a bust Published: Jan 30, 2019 8:36 a.m. ET
« on: January 31, 2019, 01:18:42 am »
I don't think the full effects have truly been felt yet.  Waiting for all the feedback (including my own) on tax returns.  That will be the true measure I think that matters to people; their bottom line. Are most having to pay more or less taxes?

Opinion: It’s official: The Trump tax cuts were a bust

Right before Congress passed the Tax Cuts and Jobs Act in December 2017, President Trump proclaimed:

“It’ll be fantastic for the middle-income people and for jobs, most of all ... I think we could go to 4%, 5% or even 6% [GDP growth], ultimately. We are back. We are really going to start to rock.”

A year later, it’s very clear that the tax cuts boosted gross domestic product and jobs a bit — and just for one year. Its effects are fading as U.S. GDP growth appears likely to weaken in 2019. The only thing that “rocked” were corporate profits and the stock market. And we’re facing trillion-dollar deficits as far as the eye can see.

The Tax Cuts and Jobs Act made small cuts in rates to most individual taxpayers, while cutting the corporate tax rate from 35% to 21%, expanding deductions for “pass-through” companies, and taxing only corporate income earned in the U.S., not worldwide. That theoretically removed a major barrier to U.S.-based multinational corporations repatriating the estimated $2.6 trillion in accumulated earnings they’re holding overseas.......

https://www.marketwatch.com/story/its-official-the-trump-tax-cuts-were-a-bust-2019-01-30






       

       

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Offline Bigun

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Re: Opinion: It’s official: The Trump tax cuts were a bust Published: Jan 30, 2019 8:36 a.m. ET
« Reply #1 on: January 31, 2019, 01:26:21 am »
Hogwash! Beginning to end!
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Offline DCPatriot

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Re: Opinion: It’s official: The Trump tax cuts were a bust Published: Jan 30, 2019 8:36 a.m. ET
« Reply #2 on: January 31, 2019, 01:29:10 am »
Did you notice that the market went nutz today?

At over 25,000 recovering the "worst December in market history"...blah, blah, blah.

It was profit taking and it was anticipation of the shutdown.
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Offline Frank Cannon

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Re: Opinion: It’s official: The Trump tax cuts were a bust Published: Jan 30, 2019 8:36 a.m. ET
« Reply #3 on: January 31, 2019, 01:31:49 am »
Quote from: Bigun on January 31, 2019, 01:26:21 am
Hogwash! Beginning to end!

This nobody also called the end of the Bull Market.....2 years ago and that Bitcoin would not exist anymore. He is just another garden variety Communist masquerading and someone in the know.
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Offline IsailedawayfromFR

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Re: Opinion: It’s official: The Trump tax cuts were a bust Published: Jan 30, 2019 8:36 a.m. ET
« Reply #4 on: January 31, 2019, 03:44:49 am »
1. An opinion is not anything but an opinion.  That in no way makes it official.

2.  This is Marketwatch, a notoriously liberal slanted website that distorts business news.
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Offline Frank Cannon

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Re: Opinion: It’s official: The Trump tax cuts were a bust Published: Jan 30, 2019 8:36 a.m. ET
« Reply #5 on: January 31, 2019, 03:48:52 am »
Quote from: IsailedawayfromFR on January 31, 2019, 03:44:49 am
1. An opinion is not anything but an opinion.  That in no way makes it official.

False. Opinions are now breaking news at all the MSM outlets.

Quote
2.  This is Marketwatch, a notoriously liberal slanted website that distorts business news.

Yeah, I'll give you that one.
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