Home FAQ Search Memberlist User Groups Register Login   

BloggingTories.ca Forum IndexBloggingTories.ca Forum Index
    Index     FAQ     Search     Register     Login         JOIN THE DISCUSSION - CLICK HERE      

*NEW* Login or register using your Facebook account.

Not a member? Join the fastest growing conservative community!
Membership is free and takes 15 seconds


CLICK HERE or use Facebook to login or register ----> Connect



Goto page Previous  1, 2  

Post new topic   Reply to topic Page 2 of 2
View previous topic :: View next topic  
Author Message
Bugs





Joined: 16 Dec 2009
Posts: 4683
Reputation: 254
votes: 8

PostPosted: Mon Dec 04, 2017 12:16 am    Post subject: Reply with quote

I am surprised that the Democrats appear to be keeping their team solid under the pressure. I would have thought that once the Democrats knew they had lost the vote, that they'd free vulnerable senators to vote for the tax cuts to save their seats.
Bugs





Joined: 16 Dec 2009
Posts: 4683
Reputation: 254
votes: 8

PostPosted: Mon Dec 04, 2017 9:32 am    Post subject: Reply with quote

It isn't over yet, but almost all agree -- passage of the new tax plan will be a watershed moment for Trump. It will end up giving him the big legislative victory that has eluded him, it is likely to be very popular in the moment, and the only question -- will the good, industrial jobs begin to return to America?

And if they do return, will robots do them?

There are huge looming problems in that regard. We can see that there's a tremendous drive going on right now for 'driverless cars'. The technology is being integrated into cars for a few years now, such things as rearview screens replacing mirrors. Who was demanding that in 2010? It's probably the results of research into driverless vehicles.

But guess what the biggest employer of working-class men is? They call it the transportation sector, but much of it is big trucks driven by working-class men supporting families. Those trucks are already monitored from satellites and have governors on their motors. They can be shut down remotely. Right now, they do it if the driver has driven more than the hours he is allowed.

It is quite likely that within a decade, all the big highway trucks will be driven by robots. A mainstay in the economy will be gone for a whole segment of the population, but the trucks will still be on the road. And this is Trump's base!

That's only one aspect of this problem. The question I am trying to make vivid is that the new factories may be staffed with robots rather than workers. Technology may take what were the 'right steps' a few decades ago into a political morass.

But we won't know about that for a decade. The thing about Trump -- things seem to end up going his way.
cosmostein





Joined: 04 Oct 2006
Posts: 7634
Reputation: 305.5Reputation: 305.5
votes: 21
Location: The World

PostPosted: Wed Dec 06, 2017 10:16 am    Post subject: Reply with quote

Bugs wrote:
I am surprised that the Democrats appear to be keeping their team solid under the pressure. I would have thought that once the Democrats knew they had lost the vote, that they'd free vulnerable senators to vote for the tax cuts to save their seats.


What surprised me was how aggressively Jon Tester went after the GOP Tax Plan.

The issue is that the Democrats are basically lining up behind the notion that this plan won't result in middle class Americans keeping more of their money but a contention that they will ultimately play more.

If this goes into effect as of January and all of a sudden most Americans end up with more money in their accounts on the 1st and 15th of the month you certainly hinder your credibility on the issue.

Tester's comments in particular could easily become a campaign ad in November if the cuts in fact to do result in the folks in Montana keeping more of their money.
cosmostein





Joined: 04 Oct 2006
Posts: 7634
Reputation: 305.5Reputation: 305.5
votes: 21
Location: The World

PostPosted: Wed Dec 20, 2017 1:02 pm    Post subject: Reply with quote

Quote:
The House of Representatives gave final approval Wednesday afternoon to its major rewrite of the US tax code, voting a second time on the package after the Senate stripped out a couple of items early on Wednesday morning and sent the legislation back to the lower chamber.

The bill passed the House a second time 224-201, with no Democrats backing it and a dozen House GOP members voting no.

The measure now heads to the President Donald Trump's desk for his signature. Republican lawmakers are scheduled to join Trump at the White House on Wednesday afternoon to celebrate their largest legislative achievement of 2017.


http://www.cnn.com/2017/12/20/.....index.html
Bugs





Joined: 16 Dec 2009
Posts: 4683
Reputation: 254
votes: 8

PostPosted: Wed Dec 20, 2017 2:17 pm    Post subject: Reply with quote

Despite the criticisms being levelled at the budget it does seem to be disproportionately aimed at those making less than $50,000 a year.

Those with better judgement than I think that two things will work in combination to re-patriate the off-shore American wealth, most obviously, the lower corporate rates themselves. But possibly as important -- new equipment write-off rules have changed dramatically, to encourage American industry to re-tool on a massive scale.

It will give an opportunity to refit factories with 21st century equipment.

The question is -- will it create that many jobs?

It will get them past the mid-terms if the signs are there six months from now. If Trump and his cadre survive that, I think they're on their way. A success with North Korea would be the cherry on top.

Our question is: how should Canada react? Are the whiz-kids on our side -- do we have any? -- any better than those on their side? Have they not seen something like this unfolding? Do they have a way we should react to adjust to the new reality?
RCO





Joined: 02 Mar 2009
Posts: 7267
Reputation: 253.1
votes: 3
Location: Ontario

PostPosted: Thu Dec 21, 2017 1:58 pm    Post subject: Reply with quote

( the democrats seem to be having a hard time explaining there opposition , other than it being opposition for the sake of opposing what trump brought forward , a wider symptom of a democratic caucus without much of an agenda )


POLITICS

· 19 hours ago

Joe Manchin struggles to explain opposition to GOP tax bill


Washington Examiner


Sen. Joe Manchin, D-W.Va., on Wednesday struggled to explain his opposition to the Republican tax overhaul, conceding in a local radio interview that it contains “some good things” that could benefit his state.


The $1.5 trillion package that cleared Congress along party lines on Wednesday is broadly unpopular, according to the polls, and could still cause headaches for Republicans in 2019. But Manchin is running for re-election in a red state where President Trump won overwhelmingly and remains popular, making the Democrat's opposition to the bill problematic.

“There’s some good in this bill. I acknowledge that,” Manchin said, when West Virginia radio talk show host Hoppy Kercheval asked the senator why he opposed legislation that will benefit the “vast majority” of taxpayers and businesses in the state.



“The things that you mention are correct. Initially people will benefit and see some changes in their taxes,” Manchin admitted.
Read more at WashingtonExaminer.com


http://www.foxnews.com/politic.....-bill.html
cosmostein





Joined: 04 Oct 2006
Posts: 7634
Reputation: 305.5Reputation: 305.5
votes: 21
Location: The World

PostPosted: Thu Dec 21, 2017 6:34 pm    Post subject: Reply with quote

Bugs wrote:

The question is -- will it create that many jobs?


I think that the jobs "floor" of this tax structure revamp is that you will largely slow the lose of jobs to lower cost countries as the threshold of risk to benefit changes with the lower taxes.

The thing to keep in mind is that with those sort of corporate tax rate in place and the general stability the US provides (No Brexits, No Greece, No Adding EU members, etc) I think you may see companies move to domicile in the US.

With money moving into the US and investment following I would think there is likelihood almost by accident that jobs are created as a direct result.

Bugs wrote:
Our question is: how should Canada react? Are the whiz-kids on our side -- do we have any? -- any better than those on their side? Have they not seen something like this unfolding? Do they have a way we should react to adjust to the new reality?


Canada has opted to go in a different direction;
On the back of record revenue the Government is enjoying record spending.

They have chosen a route that generates more tax revenue at the expense of the taxpayer to fund their spending.

The way this ultimately plays out appears pretty clear.
Bugs





Joined: 16 Dec 2009
Posts: 4683
Reputation: 254
votes: 8

PostPosted: Thu Dec 21, 2017 9:16 pm    Post subject: Reply with quote

Yes, of course, there will be jobs, if only simply installing the new equipment. What I was alluding to is that robots are ubiquitous in Industry now. Not R2-D2 roots, but machines that can weld car frames together, for instance. American industry will become digitalized and modernized up to German standards and beyond.

What proportion of the old industrial jobs will actually come back? It could be that robots are cutting the labour requirements by 75%, for example. It means all those unemployed working class people will still be largely out of luck. Let's hope this is wrong.

As for Canada ... it seems obvious that Canada's relative position has changed radically. It's as stable as the US but fails on other counts, and with the incentives now active in the American economy, we have to adjust accordingly. Is Canada going to leave our depreciation rules the same? Or are we going to 'favour the rich'? You guess.

As it stands, the most likely outcome is that Trump will terminate NAFTA, and start on a new treaty from scratch. The new treaty will be aiming at balanced trade! That means we will have to buy as much as we sell to the US. And that will change the whole basis of economic life in Canada because we have a negative balance of trade with essentially everybody but the USA. It's the surpluses we earn from selling resources to the US that pays for all these other imports.

And all indications point to us losing this, in part because of the ineptly arrogant approach of Justin. And he isn't paying any political price for it.
Bugs





Joined: 16 Dec 2009
Posts: 4683
Reputation: 254
votes: 8

PostPosted: Fri Dec 22, 2017 2:44 pm    Post subject: Reply with quote

Amusing insight ...

One year into his mandate, the year-end reviews of Donald Trump's presidency are coming in. And, guess what? The negative criticisms aren't holding up, at a policy level.

The Democrats are just snarky. They can't believe what's happening. They were sure they could stop the tax reform legislation. They are full of gloom about the budget, probably helped by the realization that their own electoral prospects may have dimmed. They, along with the media, have convinced a lot of people that it's a tax cut for the rich, and ordinary Americans won't see any benefit. That turns out to be a big over-statement.

But the funniest of all are the old Never Trump crowd, here represented by Jonah Goldberg.

Quote:
The GOP’s Tax-Reform Parlay Is a Long Shot
by JONAH GOLDBERG
December 22, 2017 12:00 AM @JONAHNRO

The bill might help the economy, but it’s unlikely to save Republicans from a midterm shellacking next year.

The Republicans are betting big on a parlay.er wins.

So if I bet that the Patriots, Cowboys, and Dolphins will win on Sunday, I collect only if all three win. The payoff is much greater than making three individual be In gambling, a parlay is a combination bet that pays off only when every part of the wager because the odds of picking three winners are worse.

Tax reform is a massive parlay. Republicans are betting that passage of tax reform will have the desired economic effect, boosting economic growth and wages, with (politically) minimal impact on the deficit. They’re also betting that passage will dispel the widespread sense that the GOP-controlled Congress can’t get anything done. But the biggest bet is that not only will the expected boost to the economy and the renewed sense of GOP competence make this remarkably unpopular legislation popular, but that a roaring economy will have a huge electoral payoff come the 2018 midterms and beyond. [....]
Read more at: http://www.nationalreview.com/.....saster-gop


If you saw the videos of all the Republicans yucking it up in the White House dining hall, all of them singing the praises of Donald J. Trump. The Republicans appear to be beoming more united.
cosmostein





Joined: 04 Oct 2006
Posts: 7634
Reputation: 305.5Reputation: 305.5
votes: 21
Location: The World

PostPosted: Fri Dec 22, 2017 5:26 pm    Post subject: Reply with quote

Bugs wrote:

The Democrats are just snarky. They can't believe what's happening. They were sure they could stop the tax reform legislation. They are full of gloom about the budget, probably helped by the realization that their own electoral prospects may have dimmed. They, along with the media, have convinced a lot of people that it's a tax cut for the rich, and ordinary Americans won't see any benefit. That turns out to be a big over-statement.


In virtually every democratic society when it comes to taxation those at the top pay the lion share so that the overall society can benefit, this is nothing new.

If you reduce the overall tax rate of course those who are paying more will benefit more.

The mistake I think is being made in the attack on the tax plan is that the Democrats seem to think that voters will be fixated on the fact that someone who pays a few millions in taxes will get more back than someone paying a few thousand in taxes.

The Affordable Care Act individual mandate was unpopular,
Now its gone.

If you were paying the ACA fine which in many cases was cheaper than getting the cheapest insurance plan AND you get to keep more money every paycheque I find it hard to believe they are going to line up behind a party that may very well push to put it back to how it was.
Bugs





Joined: 16 Dec 2009
Posts: 4683
Reputation: 254
votes: 8

PostPosted: Fri Dec 29, 2017 1:31 pm    Post subject: Reply with quote

Another wrinkle in the budget that you may appreciate.

In the US, the corporate rate is now 20-something and most small businesses are sole proprietorships. As a result, a corporation has its taxes capped at 20-something%, and the sole proprietorship's taxes are capped at 45%. So they have some provision to even this out a bit. Small business owners, even Hispanic ones, are elated when they find out.
Post new topic   Reply to topic Page 2 of 2

Goto page Previous  1, 2  


 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You can attach files in this forum
You can download files in this forum


GOP Budget + GOP Tax Plan Thread

phpBBCopyright 2001, 2005 phpBB