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Republicans Are Getting Ready to Repeat Kansas’ Tax Cut Disaster

DvlDog4WVU

DvlDog4WVU

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countryroads89 said:
Either way, the government only get's back a very small fraction of what they would have received in tax revenue. Mr. Haney taking the 50,000 dollar tax break to purchase the truck means the government didn't get 50,000 dollars but did get a small fraction of the 50,000 dollars. Mr. Haney is thrilled. Thanks Uncle Sam.

Duh!!
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Thanks Mr. Haney for contributing to the following when purchasing the tractor:

1. Salesman’s commission (taxed, and he can then go spend on booze and cigarettes) and a job that might not have been there

2. Dealership revenues (taxed), enough tractors get sold and we might need more salesmen.

3. Banks loan interest to Mr Haney, loan officer commission (which he can then spend), dealerships interest on the floor plan. Sale enough loans and we might need more loan officers specializing in tractor sales.

4. Transportation fees charged by trucking company. Truck fuel. Buy enough tractors and we might have to hire more drivers.

5. Manufacturing union jobs.

6. Parts for the tractor

Did I mention each of these transactions and salaries are taxed?

You basically just proved trickle down theory and didn’t even realize it. Congrats, you might be learning something. Oh, and not a one of these people are sucking at the Govt teet. They’re working and making things.
 
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WVUCOOPER

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Dec 10, 2002
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DvlDog4WVU said:
Good point. Still it’s not exactly apples to oranges, more like Granny Smith to Red Delicious.
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That was the point I tried to make way back ago ITT. Comparing a state (negatively or positively) with the national economy is pretty silly.
 
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wvu2007

Senior
Jan 2, 2013
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My Gosh! @moe You have really embarrassed yourself on this one. You post a link from slate? Then you go on to get absolutely schooled by others on here. Wow. I feel really bad for you bro.
 
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countryroads89_rivals

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Sep 6, 2013
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DvlDog4WVU said:
Thanks Mr. Haney for contributing to the following when purchasing the tractor:

1. Salesman’s commission (taxed, and he can then go spend on booze and cigarettes) and a job that might not have been there

2. Dealership revenues (taxed), enough tractors get sold and we might need more salesmen.

3. Banks loan interest to Mr Haney, loan officer commission (which he can then spend), dealerships interest on the floor plan. Sale enough loans and we might need more loan officers specializing in tractor sales.

4. Transportation fees charged by trucking company. Truck fuel. Buy enough tractors and we might have to hire more drivers.

5. Manufacturing union jobs.

6. Parts for the tractor

Did I mention each of these transactions and salaries are taxed?

You basically just proved trickle down theory and didn’t even realize it. Congrats, you might be learning something. Oh, and not a one of these people are sucking at the Govt teet. They’re working and making things.
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Thanks for proving my point, moron. I really can't believe you are this stupid. How many 20% of 20%s will it take and how many years will it take to earn back that 50,000 dollars in the example?

Let me clue you in. A hell of a long time.

Reagan proved trickle down doesn't work. Kansas proved trickle down doesn't work.

Now come back with your figurative equivalent of "nuh uh." Or will it be the race card.
 
DvlDog4WVU

DvlDog4WVU

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countryroads89 said:
Thanks for proving my point, moron. I really can't believe you are this stupid. How many 20% of 20%s will it take and how many years will it take to earn back that 50,000 dollars in the example?

Let me clue you in. A hell of a long time.

Reagan proved trickle down doesn't work. Kansas proved trickle down doesn't work.

Now come back with your figurative equivalent of "nuh uh." Or will it be the race card.
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Hahahha good lord. I guess you can lead a racist to water but you can’t make him drink.

I’ll put you down for believing the 1.8% is the new normal.
 
dave

dave

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May 29, 2001
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moe said:
True, when Kansas's tax revenues fell short they had to make draconian budget cuts but the Fed government doesn't have to balance its books so they can just increase the national debt if tax revenues fall short and the money doesn't trickle down somehow [eyeroll]
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When someone says draconian in a sentence you know they are a good lib who read the talking points.
 
atlkvb

atlkvb

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DvlDog4WVU said:
I think you actually believe what you’re typing.
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You know if I can find it...when moe first posted this story I reviewed that article and asked him a series of questions on it that proved it was a media distortion. He never answered the questions. The piece was examined line by line to show how the information was slanted.

For instance, one question was how much additional money did the tax cut actually bring in, and if the ensuing deficits were a result of increased spending of that additional revenue or a smaller budget? He never answered.

I'll see if I can find it and re post it because this is one of the lies the Left is using to try and derail Trump's tax cut...that Kansas story...and it has also been terribly lied about by the Socialist media types.

They promote the lie that the tax cuts will cause exploding deficits but they were silent while Obama was running historically high deficits as far as the eye could see. Now all of a sudden they are worried about debt?

Puhleese!!!!!!
 
atlkvb

atlkvb

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DvlDog4WVU said:
Right, that’s the point. And what do they spend them on? And what do those sales get? And the businesses that get those increased sales...?

Hahahhaa thanks for proving you agree with tax cuts.
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Do not argue or try to explain economics with Leftists. They are clueless.
 
atlkvb

atlkvb

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moe said:
Examples of states making similar cuts would be?
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Texas annually runs an operating surplus with a zero tax on personal incomes. California annually runs billions in the red and taxes personal incomes at damn near 40%.

Texas is booming, and folks are leaving California in record numbers.

Wonder why?
 
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MountaineerWV

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Sep 18, 2007
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People continue to speak of Obama's "you can keep your doctor"..........will Trump's claims to the middle class (those making under $75,000/year) that these tax cuts will NOT raise their taxes? We shall see........
 
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countryroads89_rivals

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Sep 6, 2013
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DvlDog4WVU said:
Hahahha good lord. I guess you can lead a racist to water but you can’t make him drink.

I’ll put you down for believing the 1.8% is the new normal.
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Have you read the CBO summary on the bill? Didn't think so. It adds to the deficit by another $1.4 billion over the next ten years, which proves the point I was making, that this thing is a loser. You won't recoup the tax revenue you are handing out to the wealthiest Americans.

The staff of the Joint Committee on Taxation (JCT) estimates that enacting the legislation would reduce revenues by about $1,633 billion and decrease outlays by $219 billion over the 2018-2027 period, leading to an increase in the deficit of $1,414 billion over the next 10 years.

If you can't see this thing is simply a handout for the wealthy, you are an idiot.

Elimination of the mortgage interest deduction will hurt the housing market and housing prices.

https://www.cbo.gov/system/files/11...estimate/reconciliationrecommendationssfc.pdf
 
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bamaEER

Freshman
May 29, 2001
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MountaineerWV said:
People continue to speak of Obama's "you can keep your doctor"..........will Trump's claims to the middle class (those making under $75,000/year) that these tax cuts will NOT raise their taxes? We shall see........
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Not to mention the 75K-150K crowd possibly also in the red without the deductibles they used to have.
 
DvlDog4WVU

DvlDog4WVU

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countryroads89 said:
Have you read the CBO summary on the bill? Didn't think so. It adds to the deficit by another $1.4 billion over the next ten years, which proves the point I was making, that this thing is a loser. You won't recoup the tax revenue you are handing out to the wealthiest Americans.

The staff of the Joint Committee on Taxation (JCT) estimates that enacting the legislation would reduce revenues by about $1,633 billion and decrease outlays by $219 billion over the 2018-2027 period, leading to an increase in the deficit of $1,414 billion over the next 10 years.

If you can't see this thing is simply a handout for the wealthy, you are an idiot.

Elimination of the mortgage interest deduction will hurt the housing market and housing prices.

https://www.cbo.gov/system/files/11...estimate/reconciliationrecommendationssfc.pdf
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Sigh. Poor fella. For Ss&Gs, go back and read the CBOs assessment of the ACA. Dems are budget hawks now? After the last guy accumulated more debt than all past presidents combined. Funny.

Guess we’ll have to reign in the budget, huh. Or are you in favor of continuing to increase spending? I guess you’d also prefer the 1.8% to the very likely 3.5 - 4.0%. You’ve been brainwashed to the point of not accepting reality.
 
T

TarHeelEer

Freshman
Dec 15, 2002
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countryroads89 said:
Have you read the CBO summary on the bill? Didn't think so. It adds to the deficit by another $1.4 billion over the next ten years, which proves the point I was making, that this thing is a loser. You won't recoup the tax revenue you are handing out to the wealthiest Americans.

The staff of the Joint Committee on Taxation (JCT) estimates that enacting the legislation would reduce revenues by about $1,633 billion and decrease outlays by $219 billion over the 2018-2027 period, leading to an increase in the deficit of $1,414 billion over the next 10 years.

If you can't see this thing is simply a handout for the wealthy, you are an idiot.

Elimination of the mortgage interest deduction will hurt the housing market and housing prices.

https://www.cbo.gov/system/files/11...estimate/reconciliationrecommendationssfc.pdf
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CBO estimates mean very little. They are almost always off.
 
atlkvb

atlkvb

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countryroads89 said:
Have you read the CBO summary on the bill? Didn't think so. It adds to the deficit by another $1.4 billion over the next ten years, which proves the point I was making, that this thing is a loser. You won't recoup the tax revenue you are handing out to the wealthiest Americans.
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CBO uses static analysis instead of dynamic scoring. Tax cuts historically increase revenues through expanded economic activity, and if Congress restrains spending with cuts in the future rates of increase... with increased revenues budget deficits will decrease not increase.

You don't "hand out" tax revenue. It comes from the taxpayers, it is collected from them. In this case the tax cuts allow them to keep what rightfully belongs to them and comes from them in the first place.

Socialist.
 
dave

dave

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May 29, 2001
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countryroads89 said:
LMAO!!!

Says the guy criticizing a non-partisan office.

I swear you can't make this **** up.

Hilarious!!!!!
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Explain how partisanship correlates to accuracy? If needed I can explain the big words for you dopey.
 
atlkvb

atlkvb

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Why do Leftist/Socialist types never have a problem taking money from rich folks but all sorts of issues letting them keep it?

They're just fine allowing the so called rich to pile up bundles of cash and they're never told to stop earning as much as they can. Then the income redistributors come in and confiscate it all without even so much as a "Thank You".

Instead the Rich are then told "You know, you didn't really pay your fair share?...so if you got any more... hand it over!"
 
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countryroads89_rivals

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For all of you making less than 75,000 per year, get ready to pay more taxes.

 
dave

dave

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You dont need a chart to realize that if you make 60k your standard deduction is higher and your rate is the same or lower you are going to pay less taxes. Your AGI will automatically decrease assuming your income remains the same.
 
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countryroads89_rivals

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dave said:
You dont need a chart to realize that if you make 60k your standard deduction is higher and your rate is the same or lower you are going to pay less taxes. Your AGI will automatically decrease assuming your income remains the same.
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Your rate won't remain the same, numbnuts. God, I really can't believe you are this stupid.

Is the CBO lying? The chart clearly shows anyone making less that 75k will pay more taxes.

Now we all know how the GOP gets idiots to vote for people who will raise their taxes and look out for the GOP wealthy friends to give the wealthy tax breaks.
 
dave

dave

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May 29, 2001
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countryroads89 said:
Your rate won't remain the same, numbnuts. God, I really can't believe you are this stupid.

Is the CBO lying? The chart clearly shows anyone making less that 75k will pay more taxes.

Now we all know how the GOP gets idiots to vote for people who will raise their taxes and look out for the GOP wealthy friends to give the wealthy tax breaks.
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Im guessing you have never actually done your own taxes.
 
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MountaineerWV

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Ok, since you guys went nuts when your insurance premiums went up after ObamaCare........when my taxes increase, I guess that means I can go nuts over the rich tax cuts, right?
 
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