Tax plan raises taxes on liberal states and lowers them for the rest.

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Milo
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by Milo » Mon Dec 18, 2017 7:44 pm

cassowary wrote:
Mon Dec 18, 2017 3:20 pm
SteveFoerster wrote:
Mon Dec 18, 2017 7:42 am
cassowary wrote:
Mon Dec 18, 2017 7:09 am
I think the projected growth will be better than predicted. While the tax reform will boost growth, that is not all that will boost growth. Of equal importance is Trump's cutting of regulations, especially in the energy sector. That will add to growth. But this is not scored by the CBO who focused only on the tax bill.
I think the corporate tax cut will spur a little growth and cutting regulations (assuming that's done competently, which is an enormous assumption with this administration) would as well. But for the most part, economic growth is something that's beyond policymakers' control, especially since we're only considering executive policymakers in a single country that has a separate legislature and central bank.
Yes, I agree. There are many factors that affect GDP growth that are not within government control. Interest rates, the price of oil, geopolitics, even the weather etc can affect growth. So CBO and CJT forecasts for 10 years are quite useless.

The most prudent way to do this correctly is to match tax cuts with spending cuts. But that is impossible in a democracy.
I am not aware dictatorships have a great fiscal track record.

neverfail
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by neverfail » Mon Dec 18, 2017 8:51 pm

cassowary wrote:
Thu Dec 14, 2017 11:49 pm
neverfail wrote:
Wed Dec 13, 2017 3:20 am
neverfail wrote:
Mon Dec 11, 2017 6:16 pm
They are not more efficient. It is just that they have the big cities in the blue states - NYC, LA, Chicago etc. Everybody knows that city incomes are higher than rural incomes.
Well of course they are cassowary. The higher real incomes reflect higher per capita productivity.
You are not wrong, Neverfail.
No, I am right cassowary because I have had first hand experience at living in both. Can you claim the same for yourself?

neverfail
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by neverfail » Mon Dec 18, 2017 9:03 pm

Doc wrote:
Mon Dec 18, 2017 9:20 am

The amount of taxes to be paid have a direct effect on private sector spending.
Yes, us as the amount of public spending has a direct effect on economic growth, especially when private spending slacks off.

(like during an economic recession.)

neverfail
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by neverfail » Mon Dec 18, 2017 9:05 pm

cassowary wrote:
Mon Dec 18, 2017 3:20 pm


The most prudent way to do this correctly is to match tax cuts with spending cuts.
The magic solution for all problems again, I see! :roll:

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Milo
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by Milo » Mon Dec 18, 2017 11:36 pm

neverfail wrote:
Mon Dec 18, 2017 9:05 pm
cassowary wrote:
Mon Dec 18, 2017 3:20 pm


The most prudent way to do this correctly is to match tax cuts with spending cuts.
The magic solution for all problems again, I see! :roll:
Except when Singapore runs a deficit: then it's a prudent investment!

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cassowary
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by cassowary » Tue Dec 19, 2017 3:28 am

neverfail wrote:
Mon Dec 18, 2017 8:51 pm
cassowary wrote:
Thu Dec 14, 2017 11:49 pm
neverfail wrote:
Wed Dec 13, 2017 3:20 am
neverfail wrote:
Mon Dec 11, 2017 6:16 pm
They are not more efficient. It is just that they have the big cities in the blue states - NYC, LA, Chicago etc. Everybody knows that city incomes are higher than rural incomes.
Well of course they are cassowary. The higher real incomes reflect higher per capita productivity.
You are not wrong, Neverfail.
No, I am right cassowary because I have had first hand experience at living in both. Can you claim the same for yourself?
My country during LKY's and GCT's time was almost a dictatorship. Yet it managed its budget very carefully. We regularly ran budget surpluses and saved the money. Today, we are classified by the EIU as a flawed democracy. Our present government led by LKY's son has been taking money out from the reserves saved up by his dad to fund budget deficits. We are becoming like you and democratization is to blame.

I see the trend having lived in a dictatorship and democracy. Dictatorship allows discipline. Democracy means more vote buying ie government spending. This leads to budget deficits.


Jim the Moron
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Re: Tax bill hits big liberal cities

Post by Jim the Moron » Tue Dec 19, 2017 7:56 am

"Screw-New Jersey . . ." Now there's a mantra I can happily live with.

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Doc
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by Doc » Tue Dec 19, 2017 8:02 am

neverfail wrote:
Mon Dec 18, 2017 9:03 pm
Doc wrote:
Mon Dec 18, 2017 9:20 am

The amount of taxes to be paid have a direct effect on private sector spending.
Yes, us as the amount of public spending has a direct effect on economic growth, especially when private spending slacks off.

(like during an economic recession.)

Not to the degree that private sector spending has in equal amounts. Government spending is choosing winners and losers Private spending is letting the markets decide I would put my money of the markets 9 times out of 10 VS some government bureaucrats choosing where to spend the money.
“The further a society drifts from truth the more it will hate those who speak it.” … George Orwell

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Milo
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Re: Tax plan raises taxes on liberal states and lowers them for the rest.

Post by Milo » Tue Dec 19, 2017 9:16 am

Doc wrote:
Tue Dec 19, 2017 8:02 am
neverfail wrote:
Mon Dec 18, 2017 9:03 pm
Doc wrote:
Mon Dec 18, 2017 9:20 am

The amount of taxes to be paid have a direct effect on private sector spending.
Yes, us as the amount of public spending has a direct effect on economic growth, especially when private spending slacks off.

(like during an economic recession.)

Not to the degree that private sector spending has in equal amounts. Government spending is choosing winners and losers Private spending is letting the markets decide I would put my money of the markets 9 times out of 10 VS some government bureaucrats choosing where to spend the money.
The private sector doesn't choose winners and losers?

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