So the republic managed to pull their heads out of their asses for a day and pass the tax bill. It seems quite decent, as it is a cut in almost every department. The biggest change by far is the corporate tax rate, which has been cut from 35% to 21%. I do wonder how the government is going to handle less taxes, and if this will increase national debt even further. What's going to be the outcome of this change?
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if nobody wants to cut any spending which I consider likely then yes, it would make sense that the debt would expand. However, if they keep their heads out of their asses, then they should realize that they'd need to cut some expenses to compensate for the lower amount of disposable funds, and cut all the useless bullshit that has been plaguing us for many years.
>>97165
Yeah, I'd say start by cutting funding to small stuff like the arts. Half of the government spending is just on random bullshit we don't know about, so they get away with spending it because it's only a billion here or a billion there. There just needs to be a massive cleanup.
Yeah, I'd say start by cutting funding to small stuff like the arts. Half of the government spending is just on random bullshit we don't know about, so they get away with spending it because it's only a billion here or a billion there. There just needs to be a massive cleanup.
So far the economy seems to be reacting favorably, Wells Fargo just raised their base wage up to $15 per hour because of it. It's step one on the road to fixing our system, it's by no means the end of the journey. From what I've heard the next item on the agenda is entitlement reform, which we really need, hopefully they can keep the momentum going and don't revert back to infighting over stupid shit.
We also need to keep our momentum going through 2018, the Democrats are going to try to run against the tax bill the same way the Republicans ran against Obamacare in an effort to win back Congress, we have to ideally expand our majority or at least maintain it at the level it's at. If we can hold on to the House and gain I think 8 or 9 Senate seats we'll be basically unstoppable.
We also need to keep our momentum going through 2018, the Democrats are going to try to run against the tax bill the same way the Republicans ran against Obamacare in an effort to win back Congress, we have to ideally expand our majority or at least maintain it at the level it's at. If we can hold on to the House and gain I think 8 or 9 Senate seats we'll be basically unstoppable.
>>97168
not really just leave it in place for anyone over 50, it'll be a pain to pay into a system I won't be able to use but it needs to be disposed of
not really just leave it in place for anyone over 50, it'll be a pain to pay into a system I won't be able to use but it needs to be disposed of
>>97162
I’m not going to pretend to be a economic major or anything, but a decrease in taxes can actually make an increase in gains if done correctly. There are some people working at lower paying jobs that their potential should have them working at just to avoid a higher tax bracket. This reduction may help in that area.
Lower taxes may also encourage more spending, saving, and investing (if the people are smart enough to take advantage of the growing markets) which might further boost the economy and therefore tax revenue from sales tax. And the end goal will hopefully be more people are employed or get higher paying jobs to further increase the tax potential.
That’s how I see it anyway. It doesn’t always work out so nice.
I’m not going to pretend to be a economic major or anything, but a decrease in taxes can actually make an increase in gains if done correctly. There are some people working at lower paying jobs that their potential should have them working at just to avoid a higher tax bracket. This reduction may help in that area.
Lower taxes may also encourage more spending, saving, and investing (if the people are smart enough to take advantage of the growing markets) which might further boost the economy and therefore tax revenue from sales tax. And the end goal will hopefully be more people are employed or get higher paying jobs to further increase the tax potential.
That’s how I see it anyway. It doesn’t always work out so nice.
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