Political Roundtable Part XXIV

[Ruzious]

Spoiler alert: total federal tax and tariff revenue went up in 2018 to its highest amount ever in recorded history.

Non-spoiler alert: SD is spewing missleading and/or false info he dreamed up. https://www.crfb.org/blogs/has-revenue-risen-2018

Corporate tax revenue has gone down 28% since they lowered the rate to 21%. And there's no evidence that the base is going to increase anywhere near enought to make up for the lower rate - according to the Congressional Budget Office.

[dckingsfan]

Spoiler alert: total federal tax and tariff revenue went up in 2018 to its highest amount ever in recorded history.

Non-spoiler alert: SD is spewing missleading and/or false info he dreamed up. https://www.crfb.org/blogs/has-revenue-risen-2018

Corporate tax revenue has gone down 28% since they lowered the rate to 21%. And there's no evidence that the base is going to increase anywhere near enought to make up for the lower rate - according to the Congressional Budget Office.

Or visually...

[dckingsfan]

And there's no evidence that the base is going to increase anywhere near enought to make up for the lower rate - according to the Congressional Budget Office.

There are several pieces to the recent tax bill. Decrease in personal tax rates; decrease in corporate tax rates; and repatriation.

The decrease in personal tax rates was the most damaging in terms of total receipts. If they had just lowered the corporate tax rates we may have seen an increase in total receipts. Or if they had lowered the personal tax rate just a bit it would have been better. Or if they had lowered the rates for the 2nd and 3 quartiles we would definitely have seen increased receipts in other areas. But they gave the biggest decreases to the top quintile and that led to reduced receipts.

And the repatriation would have been fine, IF it wasn't used for stop buy backs but used solely for 1) Dividends; 2) Increased wages or 3) capital or people reinvestments. That the bill was half-arse it was used for stock buy backs which has not meaningful advantage to the economy or federal receipts.

And this is why the tax bill was soooooo poor when it could have been soooooo good. Kind of like going up for a slam dunk and having the ball bounce all the way to the other end of the court for an easy layup by the opponent.

[stilldropin20]

Spoiler alert: total federal tax and tariff revenue went up in 2018 to its highest amount ever in recorded history.

Non-spoiler alert: SD is spewing missleading and/or false info he dreamed up. https://www.crfb.org/blogs/has-revenue-risen-2018

Corporate tax revenue has gone down 28% since they lowered the rate to 21%. And there's no evidence that the base is going to increase anywhere near enought to make up for the lower rate - according to the Congressional Budget Office.

let's wait until end of april shall we?

and compare the end of april 2015-2016 (obama's "great economy" 8 years after being in office!! lolololol) with end of april 2016-2017 and 2017-2018(trumps first year economically)...and then with the (first tax complete tax year for trump plus trump economy): end of april 2018-2019.

we'll see in 2 months just how much revenue we collect. and DONT FORGET TO ADD THE TARIFF REVENUE!!!!

And Trumps real tax and tariff numbers wont come in until the USMCA goes into effect and the new china trade deal where china starts paying massive tariffs or balances trade...either of which will bring in $250-500 billion annually.

The new USMCA (which is also NOT in effect yet) is reported to bring in over $400 million to north america combined...40-50% of which is likely to come to the US.

So we are talking about $500 billion combined revenue on the low end and up to $700 Billion on the high end in US coffers. in years 2019-2020. And thats the year you need to look at Total federal revenue....again...not just tax revenue...but total federal revenue.

again...you cant just look at tax revenue. you must look at total federal revenue from all eras for proper comparison. and you must compare approprate time periods (end of april to end of april) because most of the tax payers write checks and send them off in april.

[stilldropin20]

Spoiler alert: total federal tax and tariff revenue went up in 2018 to its highest amount ever in recorded history.

Non-spoiler alert: SD is spewing missleading and/or false info he dreamed up. https://www.crfb.org/blogs/has-revenue-risen-2018

Corporate tax revenue has gone down 28% since they lowered the rate to 21%. And there's no evidence that the base is going to increase anywhere near enought to make up for the lower rate - according to the Congressional Budget Office.

let's wait until end of april shall we?

and compare the end of april 2015-2016 (obama's "great economy" 8 years after being in office!! lolololol) with end of april 2016-2017 and 2017-2018(trumps first year economically)...and then with the (first tax complete tax year for trump plus trump economy): end of april 2018-2019.

we'll see in 2 months just how much revenue we collect. and DONT FORGET TO ADD THE TARIFF REVENUE!!!!

And Trumps real tax and tariff numbers wont come in until the USMCA goes into effect and the new china trade deal where china starts paying massive tariffs or balances trade...either of which will bring in $250-500 billion annually.

The new USMCA (which is also NOT in effect yet) is reported to bring in over $400 million to north america combined...40-50% of which is likely to come to the US.

So we are talking about $500 billion combined revenue on the low end and up to $700 Billion on the high end in US coffers. in years 2019-2020. And thats the year you need to look at Total federal revenue....again...not just tax revenue...but total federal revenue.

again...you cant just look at tax revenue. you must look at total federal revenue from all eras for proper comparison. and you must compare approprate time periods (end of april to end of april) because most of the tax payers write checks and send them off in april.

[stilldropin20]

And there's no evidence that the base is going to increase anywhere near enought to make up for the lower rate - according to the Congressional Budget Office.

There are several pieces to the recent tax bill. Decrease in personal tax rates; decrease in corporate tax rates; and repatriation.

The decrease in personal tax rates was the most damaging in terms of total receipts. If they had just lowered the corporate tax rates we may have seen an increase in total receipts. Or if they had lowered the personal tax rate just a bit it would have been better. Or if they had lowered the rates for the 2nd and 3 quartiles we would definitely have seen increased receipts in other areas. But they gave the biggest decreases to the top quintile and that led to reduced receipts.

And the repatriation would have been fine, IF it wasn't used for stop buy backs but used solely for 1) Dividends; 2) Increased wages or 3) capital or people reinvestments. That the bill was half-arse it was used for stock buy backs which has not meaningful advantage to the economy or federal receipts.

And this is why the tax bill was soooooo poor when it could have been soooooo good. Kind of like going up for a slam dunk and having the ball bounce all the way to the other end of the court for an easy layup by the opponent.

this is where we agree. but trump and GOP did not write this into the tax code.

this is what ive been harping on for 2 years. the elite's are allowed to offset their income by way of expansion. A stock buy back is nothing more than expansion. They are buying back more of their own company. their equity increases as their tax liability decreases. it's criminal tax policy. It needs to be abolished. in all forms not just stock buy backs but before any kind of expansion or "research and development" which also allows for future expansion the income MUST be distributed and taxed pre-expansion. . <--but trump and GOP did not write that it!! its always been there. since the beginning of our income tax codes.

As a growing and developing nation, it made sense so as to gain market share on the rest of the world. But now...as the world's leading consumer, we need better tax codes to force these corporation to realize their entire income pre expansion. They are free and encouraged to expand away AFTER paying their taxes on the current year's revenue.

[Fairview4Life]

Read on Twitter

Registering for the bar or whatever is like filling out race on the census. You don't "get ahead" by doing it. It's used for statistics.

[Ruzious]

SD, you and I end up paying the tarriffs. The tarriff revenue makes prices higher, and that's paid for by Americans.

[Ruzious]

Registering for the bar or whatever is like filling out race on the census. You don't "get ahead" by doing it. It's used for statistics.

I was wondering how he jumped to the conclusion that she was getting ahead by doing that.

[Jamaaliver]

Partisan politics is the worst. But this headline and photo is one of my faves.

(What'd they think would happen inviting a school-aged kid to an hour long speech at 9PM?)

Spoiler:

Read on Twitter

Read on Twitter

Boy named Trump who fell asleep during State of the Union hailed a hero



First lady Melania Trump sits with Grace Eline and Joshua Trump, special guests of President Trump, during the State of the Union address on February 5, 2019.

The Guardian

[pancakes3]

SD, you and I end up paying the tarriffs. The tarriff revenue makes prices higher, and that's paid for by Americans.

to add insult to injury, the gov subsidies to farmers hurt by the tariffs are more than the tariff revenues, which again, are paid by amercan consumers.

[Jamaaliver]

SD, you and I end up paying the tarriffs. The tarriff revenue makes prices higher, and that's paid for by Americans.

to add insult to injury, the gov subsidies to farmers hurt by the tariffs are more than the tariff revenues, which again, are paid by amercan consumers.

I just finished the book 'Fear' by Bob Woodward. It's confounding how obsessed Trump is with trade deficits and winning them at all costs with every country.

Much to the chagrin of his financial and military advisors.

[dckingsfan]

Read on Twitter

Registering for the bar or whatever is like filling out race on the census. You don't "get ahead" by doing it. It's used for statistics.

Agreed - you should judge her on this - rather on the stupid policies she has put in place.

[stilldropin20]

SD, you and I end up paying the tarriffs. The tarriff revenue makes prices higher, and that's paid for by Americans.

its a hidden tax on consumers!!! absolutely!!!! its the best and fairest way to tax people...because tax loop holes allow the very rich to skate and the very poor to skate.

sales tax makes everyone pay!! and no one complains about a hidden sales tax!!

bottom line...we need the revenue!!!

What if i told you that before 1913 there was no income tax law??? that the US givernment met its spending needs solely based on revenue from tariffs?????? Is that something you would be interested in?????

What if no paid any income taxe whatsoever?? or if we went back to a 10% rate on gross revenue!!!!! be you coporation or individual if the US goverment simply switched to a 10% tax on all gross revenue (with no carve outs and loop holes) and just taxed gross revenue at 10% guess how much revenue the US government would collect??? Take a guess!!

Spoiler alert: it would double the federal governments total tax revenue!!!

Guess what the initial income tax rate was in 1913???

spoiler alert: 10%!!!

and it worked. We had the greatest expansion in the US ever. 1915-1929.

The 10% flat tax rate didn't crash the markets in 1929!!!! Nope! instead, our federal reserve and american banks were too heavily dependent on rothschild european bankers who constricted the flow of credit severely in 1929 as post WW1 europe began to rebuild their militaries and hitler began to threaten europe. The bankers understood what was next...WW2...so they constricted credit to the USA and rest of the world so as to fund both allied and axis powers in europe to protect wealth. Never ever ever forget that the initial head of the rothschild banking family was in germany. They all answered to germany for 200 years. London, Paris, vienna, naples...all of them answered to frankfurt from 1760 to 1942. As Hitler took control of german militarily fell in the 1930's the rosthchilds were a bit aherad of him and already disersing their german wealth to paris and poland and austria and London. Hitler caught up with 25 tons og gold in Poland in 1936 almost caught all the parisian rothschild buillion in 1940. he has paris surrounded. If he got to the rothschild buillion vaults in paris the world would look much different today. Enter the americans. We stopped him 30 minutes outside of paris. At the same time musolini had seized a lot of the naples gold.

This is why we built fort knox post WW2. To fill it with rothschild gold which became US gold for war reparations. The federal reserve used to gold reserve in the 40's, 50's and 60's to open our credit markets and expand out global trade. it worked. until we borrowed against it. overly borrowed and got caught up in the expensive practice of policing the world.


But the 10% flat tax rates worked!!! It was the Constricting world credit in 1929 and subsequent and margin calls that caused the stock market to crash in 1929. but for 15 years that was the largest economic boom ever on US soil. and we did it on 10% flat tax rates and a rothschild/london-based gold standard.

[stilldropin20]

Read on Twitter

Registering for the bar or whatever is like filling out race on the census. You don't "get ahead" by doing it. It's used for statistics.

Agreed - you should judge her on this - rather on the stupid policies she has put in place.

i like warren. I like the idea behind her policies. But she too is letting the elites off the hook. her policies do not address unrealized income by corporations, trusts, foundations, non-profits.

We must make them all realize their income and pay taxes on it!! If we did that and went back to a 10% flat rate on all gross revenue we could pay down the entire debt in 8 years or less.

how can anyone argue against a flat rate of 10% on all gross revenue. No carve outs! no loopholes!! everyone pays 10% on all of their revenue!!

and then add to that a dollar for dollar tariff on all foreign goods so as to balance trade with that country!!


and finally a flat federal 8% sales tax on all goods.

and a flat 3% state sales tax on all goods and services and income...collected at the local level to pay for each town or city on a local.

if we did all that no city would be broke. and the federal goverment's debt would be completely paid off in 8 years and we would be running a surplus to pay for college for all and medicare for all.

[Jamaaliver]

Virginia AG says he wore blackface at college party



Virginia sank deeper into political turmoil Wednesday when another top Democrat — Attorney General Mark Herring — admitted putting on blackface in the 1980s, when he was a college student.

Herring, 57, said he was "deeply, deeply sorry for the pain that I cause with this revelation."

The disclosure further roils the top levels of Virginia government. Democratic Lt. Gov. Justin Fairfax, who would be next in line if Northam were to resign, was confronted with sexual misconduct allegations earlier this week and denied the accusations, calling them a political smear.

Herring would be next in line to be governor after those two men.

Associated Press

[stilldropin20]

ok...when are the democrats...the race baiters that almost soley run on identity politics going to demand the Gov, lt Gov, and attorney general resign???

keep in mind these 3 ran and barely won on nothing but Gillespie is a racist!!!

i mean...you cant make this stuff up!! again...who are the real racists??? Its the dems!!!!! they run on free stuff while letting the elites skate by on criminal tax codes. and the "free stuff" doesn't teach the poor how to fish for themselves. Its the dems that fought against abolishing slavery. Its the demds that fought against and filibustered civil rights act in the 1960's. and its the dems that are wearing blackface and klan garb in the 80's!! and its the dems raping women a few years back!!

its the dems that want open borders so as to over supply the unskilled labor market which keeps wages low for black and brown americans.

and its the dems like elizabeth warren pretending to be a minority so as to "get a leg up."

who are the real racists!!!!!!!!?????????

[Jamaaliver]

The myth of the good guy with a g u n...

Yet another fairy tale conservatives have concocted to paint over an ugly truth.

A Mall Shooting, a Black Man’s Death, and a Debate Over Race and Gun Rights

New York Times

Nov 2018

Being a police officer is hard. But we gotta start having some type of accountability when this happens over and over again.

It's just heartbreaking.

Parents after cop who mistakenly shot son isn't charged: It was "murder"

A police officer who mistakenly shot and killed EJ Bradford Jr., a black man, at an Alabama mall will not be charged. Protesters burned American flags Tuesday night outside City Hall in Hoover. "Black Lives Don't Matter" was painted on the flags.

The victim's father, Emantic Bradford Sr. and mother, April Pipkins, told CBS News correspondent Mireya Villarreal they want justice for the death of their son.

"To see and know that they're justifying shooting my son three times … how is that justifiable?" Pipkins asked.

Newly released surveillance video from the Alabama mall shows the moment shoppers scatter at the sound of gun shots Thanksgiving night. Bradford is then seen running toward the gunfire, holding a licensed handgun of his own. A moment later, a responding Hoover police officer shoots and kills Bradford Jr., believing he was responsible for the mall shooting.

Bradford's family said he was trying to protect those around him. "You've watched the video?" Villarreal asked.

"The police officer in less than two seconds made a judgment call that he saw a black man, he saw a gun, he concluded that he's … a criminal. And he shot [him] in the back," Crump said.

The city of Hoover never released the officer's name or information, but they plan to address the report Wednesday.

CBS News -- Feb 2019

[pancakes3]

ok...when are the democrats...the race baiters that almost soley run on identity politics going to demand the Gov, lt Gov, and attorney general resign???

keep in mind these 3 ran and barely won on nothing but Gillespie is a racist!!!

i mean...you cant make this stuff up!! again...who are the real racists??? Its the dems!!!!! they run on free stuff while letting the elites skate by on criminal tax codes. and the "free stuff" doesn't teach the poor how to fish for themselves. Its the dems that fought against abolishing slavery. Its the demds that fought against and filibustered civil rights act in the 1960's. and its the dems that are wearing blackface and klan garb in the 80's!! and its the dems raping women a few years back!!

its the dems that want open borders so as to over supply the unskilled labor market which keeps wages low for black and brown americans.

and its the dems like elizabeth warren pretending to be a minority so as to "get a leg up."

who are the real racists!!!!!!!!?????????

dems are calling for northam to resign.
gillespie is a racist.
your half-understanding of history is a drain on this board. stop citing lincolnian politics and dixiecrats as some sort of gotcha.
i don't even know what you're referring to wrt the rape comment
it's racist to equate unskilled labor with black and brown americans

why can't you just f*ck off already?

[pancakes3]

mods, seriously, we were on the verge of getting ride of him, and he's come back with a vengeance. and he hasn't cleaned up his act, at all.

why are we entertaining this?

even in taking as anecdotal evidence, the brief moment when ban-talk brought nate back, we had a reasonable dialogue before SD came back and started smearing his feces everywhere.