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Understanding Tax Code Reform

December 1, 2017

To the editor: As Congress hurriedly tries to produce a tax code law, it behooves us to try to understand what is being proposed....

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(19)

allenwoll

Dec-07-17 7:45 PM

auntico -- In the light of the nature of those concerned, Gross Incompetence is a given, surely to be expected.

The Pols in DC today would be hard pressed to run a traveling carnival, let alone a nation.

Conservatude in "action" ! ! Tisque !

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aunticorp

Dec-07-17 6:07 AM

“Coal CEO Robert Murray warns Senate version of tax reform will destroy thousands of coal mining jobs. "We won't have enough cash flow to exist. It wipes us out," Murray said. A fierce supporter of Trump's efforts to revive coal, condemned the Senate bill as a "mockery" that would inflict a devastating tax hike on beleaguered coal mining firms ."This wipes out everything that President Trump has done for coal," said Murray, the CEO of Murray Energy, one of America's largest coal companies. For coal companies, it could be a double-whammy. It would preserve the Alternative Minimum Tax (AMT) and impose new limits on the interest payments that businesses can write off. Murray Energy estimates that these changes would raise its tax bill by $60 million per year. Like other coal companies, Murray Energy borrows heavily to pay for its expensive mining operations.” – caps interest deductions. hahahehe

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allenwoll

Dec-05-17 3:08 PM

NBma -- You are, I presume, writing from your villa on Fantasy Island, judging from content ! !

It would likely be best for you to have the engines which drive the GoPer Excuse Generators cleaned, lubricated and tuned to deal with the heavy loads which will be produced when REALITY once again strikes down Righty WishThink ! ! ! -- A scenario not unlike that which plays out when body waste strikes the whirling blades of an air circulator .. All at a time likely NOT that far off ! ! !

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NoBama

Dec-05-17 2:33 PM

You just have to sit back, laugh, and shake your head at the incredible hypocrisy that Hillary-Obama losers exhibit. Not ONE of these irrational folks, poisoned and blinded by hate and hypocrisy and that obviously can't come to grips with their defeat, uttered a peep when Obama doubled our National debt spending more than all past Presidents combined since Georgie Washington. President Trumps ten months has produced record growth. The new tax plan will create explosive growth with overseas business and wealth returning to the USA. More jobs and fair trade. America first for a change. Fighting Democrats, Republicans, a bought and sold media, and a sold out Democrat controlled FBI - Trumps still winning! Great Job Trump!

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aunticorp

Dec-05-17 9:53 AM

“Normally, presidents ask Congress to borrow money to pay for tax cuts when the economy needs to be rescued from trouble. Trump is enacting a $1.5 trillion tax plan with an economy enjoying its best growth in three years (thanks to Obama).

"We should be paying down the debt now, so if we have a war or recession and we need to use tax cuts or increase government spending we're in a position to do so," said chief global strategist at JPMorgan.

"It's wrong to deficit-finance a tax cut in a full employment economy when we already have high deficits," he said. Republicans argue the tax plan ((WILL PAY FOR ITSELF)) with much faster economic growth (like invading Iraq). In fact, the Joint Committee on Taxation, the Congressional scorekeeper for tax bills, estimates the Senate tax bill will only generate enough growth to create about $408 billion in net new revenue over the next decade.”

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allenwoll

Dec-04-17 8:30 PM

Crusty -- You see what you opine ONLY in your wildest and most colorful PoliHallucinations ! ! !

Let's pour a gallon of RoundUp (TM) on the Trumpet Daffodil and his wretched herd of unspeakables ! ! ! --- Hopefully before this nation self-destructs ! ! !

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DOAshrimp

Dec-04-17 7:23 PM

CONGRATS to President Trump on a double victory this week - Historic tax cuts untying corporate hands, bringing home wealth, investment, and jobs..and a great victory at the Supreme Court helping to keep us safe by upholding the common sense travel ban...also as a side note..More Congrats are in order for President Trump's handling of ISIS this last ten months. Sadly barack o'sharptons direct/indirect creation of ISIS killed untold thousands of innocents which o'sharpton should still be held accountable for. In ten short months ISIS has been nearly wiped out! OUTSTANDING PRESIDENT TRUMP!! Great Job! Finally the USA has a strong leader.

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anticorp

Dec-04-17 2:15 PM

allen - the fly in the ointment is upper management greed. They manipulate stock prices often preceding exit stage left.

Regulation!!!! That is the ticket.

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allenwoll

Dec-04-17 1:39 PM

auntico -- ImO, viewing investing as a kind of financial sport is NOT in the overall interest of We The People for the reasons which I have already cited.

Had I the power, the state of the markets would be reported after a 2 to 4-week delay while buy-sell orders would be executed at random times. . This would NOT impact the long-term investor, but put the full damper on Casino-type investing. . People who need the thrill of risk-taking can play the horse, dog or auto tracks, the lotteries or go to Las Vegas.

ImO, in this century or shortly thereafter, money, markets AND therefore Capitalists will gradually vanish from the economic field : Bye, bye ! ! !

ImO, this is a natural consequence of economics when finally virtually ALL human labor is inevitably driven OUT of the production of Goods and Services.

ImO -- In my opinion.

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aunticorp

Dec-04-17 11:46 AM

”Speculators -- Think of these as Economic Clear-Cutters. . For them, the ultimate future is only 90-days out. . The REAL future is an irrelevant concept to them -- Que Sera, Sera.”

We have discussed this before, and it unsettled me until I thought about it. Short term investors are part of an aggregate that is part of financial institution’s capital investment in longer term investment. Individuals turn their investments because they see a profit and fear the downside for whatever reason. Some stay and some go over and over. The aggregate is relatively stable.

I see no problem with taking profit or investing in potential. I am a Capitalist (regulated). It is those who engage in insider information or end run the market by equipment designed to get in front of trading with their speed that destroy investor confidence and sound investing principles.

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allenwoll

Dec-04-17 8:35 AM

Sen Grassley seems to be The Poster Boy for much of what is ailing in U S A politics.

For example, the Senator wants to protect "those who invest". . Alas, these come in at least TWO stripes :

1. TRUE Long-Term Investors -- Those who invest for the LONG-TERM -- They think in years and decades -- Their actions generally benefit the entire nation, helping both workers AND all of the rest of our citizens at every economic level by continuously BUILDING UP our economy.

2. Speculators -- Think of these as Economic Clear-Cutters. . For them, the ultimate future is only 90-days out. . The REAL future is an irrelevant concept to them -- Que Sera, Sera. . Their actions encourage Corporate Governance to embark upon risky strategies to raise stock prices, ignoring the usually destructive impact of their ill-starred actions upon workers or upon the rest of our citizens.

Senator G draws no distinction.

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anticorp

Dec-04-17 7:19 AM

REPUBLICANS?

“After pretending for a brief moment in 2016 that the Republican Party stood for working people, the Republican-controlled Congress reverted back to trickle-down form on Friday when they passed a tax reform bill that overwhelmingly favored the rich. Not to be outdone, though, Senator Chuck Grassley made clear his disdain for those not benefiting under the new tax law. “I think not having the estate tax recognizes the people that are investing, as opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies,” Grassley told the Register in a story posted yesterday. It’s difficult to think of a more condescending, elitist worldview – that if you’re not ultra-wealthy, it’s clearly because you’re wasting all your money on alcohol, frivolous fun and prostitutes (I assume that’s what he meant when he said women).”

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allenwoll

Dec-03-17 4:15 PM

The denial of certain Optical Attributes of and by the Subject is noted.

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DOAshrimp

Dec-03-17 12:32 PM

I would respond to The Twins but have been asked to not make it personal as they continue and are allowed to do.

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anticorp

Dec-01-17 4:23 PM

I trust the nonpartisan Congressional Budget Office (CBO) and Politico. Both support my comments.

But yours?? We all know what u are about.

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DOAshrimp

Dec-01-17 1:26 PM

In spite of the dire and very bizarre paranoid warnings from Trump/Republican hating "liberals" concerning a proposed tax plan... The simple facts are..NO one here actually knows the plan..has actually read "the plan" word for word.. or has -0- idea of the ramifications of any plan..short or long term.. Its hasn't even been passed. How silly.

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DOAshrimp

Dec-01-17 1:14 PM

"Defunding education is a “Republican” initiative, the same as they have become the party of Science Deniers and harming minorities" and the GOP’s master plan to eviscerate the welfare and retirement of American workers."...don't forget the famous..."All Republicans want to kill manatees" to add to the "credibility" score.

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anticorp

Dec-01-17 12:51 PM

cont In a videotaped interview with two reporters, Sen. Rubio(R-Fla.) said the quiet parts out loud. Asked how to address the federal deficit, he replied: “We have to do two things. We have to generate economic growth which generates revenue, while reducing spending. That will mean instituting structural changes to Social Security and Medicare for the future.

New here is the explicit admission by a Republican officeholder that this is the GOP’s master plan to eviscerate the welfare and retirement of American workers. Budget analysts have seen it coming with all the subtlety of a freight train. As we reported earlier this month, the damage begins with the so-called Paygo law (for “pay as you go”), which requires Congress to offset any increase in the federal deficit with spending cuts. The law limits Medicare cuts to 4% of its budget per year, or $25 billion of its $625-billion budget.”

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anticorp

Dec-01-17 12:50 PM

It will force cuts in Obamacare supplements (forcing 13 mil off health care). It will require 25 billion in Medicare cuts next year. It will cut education ie., “The Republican tax plan could financially devastate graduate students” (search) Defunding education is a “Republican” initiative, the same as they have become the party of Science Deniers and harming minorities. They now actively seek to reduce education of the populace - more easily duped by FOX,athletic and sports event advertising and messaging. Simply put education is under attack by Republicans for political reasons. Educated folks see them as corporate sycophants.

Trump said tax cuts will boost hiring and wages.

Watch CEOs admit they won’t actually invest more if tax reform passes *****://****vox****/policy-and-politics/2017/11/15/16653698/ceos-investment-tax-reform

cont.

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