Forum Thread

The new tax "cut" stupidity

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  • Independent
    Ft.myers, FL
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    In the "bill" they think that companies who placed their factories overseas will return to the US because of the lower taxes. Forget it! Overseas there are other benefits than "taxes" alone; for instance to have "workers" who are "educated" as well have better social security, so are more interested in their job and strive to be the best. The environment as well social services make the worker efficient as well happy. An happy worker will elevate the company. Here they still think in "money" alone, which is eventually not working. Thus my feeling is that companies will not repatriate to this country at all.
  • Independent
    Campbellsport, WI
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    For my small manufacturing business, I just finished a quarter million+ dollar quote for parts which are sold overseas. My main competitor in Ireland is taxed at 12.5%. I was at 39% until today. Now, my revised quote is roughly 20% lower and I will get the work. The bulk of remaining percentage will go to my critically important employees... the welders and polishers. Democrats should have voted for this bill. We are soon to see 4% GDP and I predict 5% GDP for years to come. The slashing of regulations was a boot on the throat of our economy which was lifted thanks to President Trump. Say what you will - Talk is cheep - myself and my employees will be celebrating tomorrow by going ice-fishing and having a great party lasting into the weekend. Merry Christmas
  • Independent
    Washington
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    Watch for mouths to come he will be gloating\bragging about this at every possible chance in public and rallies.

    Also, he is already gloating that this tax bill is a full repeal of Obamacare, thus he has fulfilled his campaign promise, and there is no need for him to further address it going forward.

    Jan 2018: "American was on verge of economic collapse, and thanks to me I created the greatest tax cuts in the history. Nobody but me could have gotten it done. Without me, right now we be in economic depression like the world has never seen with 85% unemployment, gas prices at 100 per gallon, 100 trillion and trillions s in national debt. All those things would be happening today if I did overall the tax plan that saved America. "

    Feb: repeat..

    Mar: repeat..

    ...

    ...

    August 2018: "I have not said it before, and most American don't know it, but I was the one who created the most amazing tax cut the w0rld has ever seen, let me tell you about it..."

    This will be his response\solution to everything going forward, and people, including his base will get tired of hearing him reminding people of it. A bit like talking to pro NFL player who played in Superbowl V, and that is all he talks about 30 years later as if it happened yesterday.

    "People everywhere are always asking me: 'Donald how did you do the impossible?' and i tell them it was so easy; i just gave them a simple 1-2-3 tax plan on a postcard and they follow my plan. People love it when I tell them how to do the impossible; it's what I do and why I am richest man in the world now"

  • Independent
    Washington
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    Dialogue Wrote: For my small manufacturing business, I just finished a quarter million+ dollar quote for parts which are sold overseas. My main competitor in Ireland is taxed at 12.5%. I was at 39% until today. Now, my revised quote is roughly 20% lower and I will get the work. The bulk of remaining percentage will go to my critically important employees... the welders and polishers. Democrats should have voted for this bill. We are soon to see 4% GDP and I predict 5% GDP for years to come. The slashing of regulations was a boot on the throat of our economy which was lifted thanks to President Trump. Say what you will - Talk is cheep - myself and my employees will be celebrating tomorrow by going ice-fishing and having a great party lasting into the weekend. Merry Christmas

    What city and what do you manufacture?

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Dialogue Wrote: For my small manufacturing business, I just finished a quarter million+ dollar quote for parts which are sold overseas. My main competitor in Ireland is taxed at 12.5%. I was at 39% until today. Now, my revised quote is roughly 20% lower and I will get the work. The bulk of remaining percentage will go to my critically important employees... the welders and polishers. Democrats should have voted for this bill. We are soon to see 4% GDP and I predict 5% GDP for years to come. The slashing of regulations was a boot on the throat of our economy which was lifted thanks to President Trump. Say what you will - Talk is cheep - myself and my employees will be celebrating tomorrow by going ice-fishing and having a great party lasting into the weekend. Merry Christmas
    Dialogue, Sounds great. Does that mean your Irish competitor has higher production costs and can't compete on the bid? The overall thrust will be to cause an overall unemployment increase I countries we recover jobs from. tRump should have approached jobs by creating new jobs and not unemployment. hIstorically the long term effect of a tax cut has been a recession. loss of tax revenue has got to cause lost jobs. The trickle down won't be enough to overcome the lost jobs and increase GDP. This tax bill is a total waste generating foreign unemployment and bad feelings toward the USA.
  • Independent
    Ft.myers, FL
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    No; this tax bill will bite this country in the butt; no company will repatriate back to the US; neither will this tax bill help the economy; it will help the rich, who will continue to park their money elsewhere.

    The point is, with this "leader" and his cronies there is no steady environment nor solid future. It will become like Venuzuela, with an dictator as Trump. The guy changes his mind twice a day. Companies want an solid thrust worthy country with leaders you can trust; not the chaos as created by Trump and his butt crawlers.

  • Independent
    Campbellsport, WI
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    Hi Chet, My competitors overhead costs are higher. They need a legal team to write the contracts, a CFO to manage the finances, a chief engineering officer, an estimating manager, plant manager, a marketing manager and on and on... I do this myself. At any given time of day, you will most likely find me under a welding helmet. My competitor hires a CEO and pays him $12,000,000+ /year. The CEO subsequently hired all these other staff members because he is too stupid to design the product/process himself etc... but I'm going far afield here. Regarding loss of jobs overseas, this may or may not happen though the free market shuffles things around, it's rarely a zero sum game. More likely a growth in the pie occurs, with the lower cost new technology, the end customers will decide to trash their old coated cast iron glass delivery systems and replace them with my Stainless Steel air-ride delivery system. An entirely new product - entirely new jobs. I am also small enough to stay under the radar of business killing government bureaucracies and regulatory agencies. I'm telling you chet, the only way to lift a person out of poverty is to give them something productive to do. You have a sense of accomplishment if you have accomplished something and a sense of pride if you have done something to be proud of. Look at the pathetic losers rioting at U.C.Berkley. I have a three time felon working for me worth more than 10 of those pieces of trash.
  • Center Left
    Independent
    Central, FL
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    Jobs created. I can see it. John Smith worth 6.5 B will get a hefty bit of relief. I can see 2 more Chinese factories on his bucket list.

    Facts mean nothing. Keep repeating the words poor and middle class. Say higher wages and fuller employment and it will sound good. No fact checking during this Administration.

  • Independent
    Washington
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    TJ Wrote:

    Jobs created. I can see it. John Smith worth 6.5 B will get a hefty bit of relief. I can see 2 more Chinese factories on his bucket list.

    Facts mean nothing. Keep repeating the words poor and middle class. Say higher wages and fuller employment and it will sound good. No fact checking during this Administration.

    True, they get a huge tax break, and they very well could do exactly what trump would do himself (fuck america, show me the money), double down on existing foreign investment that are already generating huge profits. Why spend billions to switch back, when they can simply re-invest in foreign infrustruct that is already very profitable.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    "You have a sense of accomplishment if you have accomplished something and a sense of pride if you have done something to be proud of."

    No truer words. Give people something to live for instead of something to die. But it is too important to leave to hap and circumsance. Money and procedures need to be directed and non productive speculative betting needs to be restricted.

  • Independent
    Ft.myers, FL
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    One word says it all : "chaos"; just spent an trillion and a half to make your sponsors happy; guess who in the end has to pay the bill? This country is doomed; I see the "iceberg" getting closer.
  • Center Left
    Independent
    Central, FL
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    And yet he walks unscathed. Things that make you go hmmm.
  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Take an esconomy that has almost ZERO GDP growth and then take 1.3 Trillion dollars out of it with the purpose of boosting spending. The Liar in Chief is creating a legacy that will push the USA further into a caste system.