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This opinion piece is a must read IMO.
Steve Bannon has a point Quote:
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Meanwhile, and back on topic:
https://www.cnbc.com/2018/01/10/bill...or-stocks.html Even Warren Buffett thinks the Corp tax rate reduction is positive. |
Hey Finn - here's a double whammy for you. Not only is Chrysler moving truck production back from Mexico bringing back 2500 jobs, they're also giving out bonuses. Why? A more favorable tax climate.
http://www.detroitnews.com/story/bus...ico/109373632/ Fiat Chrysler Automobiles NV will invest $1 billion at its Warren Truck Assembly plant to bring production of its Ram Heavy Duty truck to the U.S. from Mexico. The company said Thursday the move will add 2,500 jobs in Metro Detroit by 2020, when the plant retooling is completed. The automaker also plans to give its 60,000 hourly and salaried U.S. employees $2,000 bonuses. “These announcements reflect our ongoing commitment to our U.S. manufacturing footprint and the dedicated employees who have contributed to FCA’s success,” CEO Sergio Marchionne said in a statement. “It is only proper that our employees share in the savings generated by tax reform and that we openly acknowledge the resulting improvement in the U.S. business environment by investing in our industrial footprint accordingly.” The company said the move solidifies the U.S. as a manufacturing hub for Ram vehicles. Marchionne and the company said both the new investment and the bonuses were “made possible in part by the passage of U.S. tax reform legislation late last year.” |
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It didn't simplify the tax code or close loopholes, nor will it pay for itself (as promised). What it will do is increase interest rates as well as concern from our creditors about the credit-worthiness of US treasuries (just yesterday China expressed grave concern about US treasuries) and bonds are reportedly entering a bear market. Increased interest rates will ultimately have a negative impact upon the economy. Meanwhile, enjoy your sugar high. |
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https://www.ft.com/content/924e4c88-...7-5465a6ce1a00 You claim it won't pay for itself, with your fixed pie economy point of view. Others, including the former CBO Director Douglas Holtz-Eakin, thinks it will. I'll take Mr. Holtz-Eakin's Ph.D in Economics from Harvard - informed opinion on this. |
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If you believe this tax cut will pay for itself, you likely also gullible enough to believe that your Dear Leader isn't a liar and a racist. |
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