The Soapbox

WahooMatt05

Joined: 08/30/2013 Posts: 26125
Likes: 48317


Right.


Way to invent a previous stance I made so you can claim I am changing my tune. I never claimed companies would keep all of their tax break. Everything I've read has stated that companies are primarily going to use their tax breaks on share buybacks. That's not keeping it, but that's not really spending to improve the economy significantly. Also, a number of these company bonuses represent about 10% of their 2016 net income, so it's not like they are giving away a huge portion of this tax cut. Also, should we report every company that isn't giving a bonus? That might be a long list. The problems with the tax bill include big tax cuts for corporations (why 21% and not 25% or 28%?), a regressive tax cut that is heavily skewed towards the wealthy, a rushed process that creates a bunch of loopholes, many of which we likely haven't seen, not solving anything regarding shipping jobs overseas (no AMT for companies' overseas profits), killing the individual mandate, taxing Puerto Rico like a foreign country, keeping the carried interest loophole (didn't Trump promise to get rid of that one), not having a large enough child tax credit and not having it be fully refundable, and I'm probably leaving off a lot of items. Some of those are left leaning ideas, but certainly not all of them. The bill is terrible, and a few bonuses don't change the fact that the bill sucks for a lot of people (except rich people, they are clearly a lot better off).

(In response to this post by TomKazanski)

Posted: 12/26/2017 at 12:32PM



+3

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Current Thread:
  I rarely say this to you Tom, but I think you are exactly right. -- hoolstoptheheels 12/26/2017 10:44AM
  Regarding your last comment -- NJHoo 12/26/2017 10:48AM
  Hardly anybody noticed Obama's tax cuts -- WahooMatt05 12/26/2017 12:48PM
  I assume D messaging will be healthcare -- WahooMatt05 12/26/2017 1:27PM
  That's much closer to my POV. -- hoolstoptheheels 12/26/2017 2:01PM
  Lost me at nice going back to work. ** -- Shenhoo 12/26/2017 10:01AM
  Thanks Obama? ** -- Hoodafan 12/26/2017 08:37AM

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