Thread: American Politics
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05-08-23 04:51 #12286
Posts: 5566The TCJA, a Fixable Mistake
Aside from the most basic characteristic of all Repub "tax / economic policy", it being the wrong thing to do at the wrong time, the doubling of the Estate Tax and Gift Tax giveaway to further the "Dynasty Building For The Wealthy" Repub agenda and the cover it provided before its 2026 sunset for all but Trump Crime Family-type "businesses" to pay for it by cutting resources essential to producing broad and wide-range economic expansion and job growth rather than typical Repub Trickle-Down nothingness, proved it to be just another costly Do Nothing, Know Nothing Repub regressive economic blunder.
BROOKINGS
A fixable mistake: The Tax Cuts and Jobs Act.
Sept. 25, 2019
https://www.brookings.edu/blog/up-fr...-and-jobs-act/
The Tax Cuts and Jobs Act of 2017 (TCJA, P. L. 115-97) was the largest tax overhaul since 1986. Rushed through Congress without adequate hearings and passed by a near-party-line vote, the law is a major legislative blunder badly in need of correction. The overall critique is simple: by providing large, regressive, deficit-financed tax cuts to an economy with low unemployment, rising long-term inequality, and high debt, the law was the wrong thing at the wrong time. It will take resources from future generations and from todays lower- and middle-income households to enrich todays well-to-do. It will take resources away from other badly needed social and economic priorities. The bill was so unpopular with the public that Republican members of Congress like Chris Collins and Lindsey Graham resorted to justifying their support by saying that their donors would cut off funding otherwise.
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05-07-23 22:22 #12285
Posts: 5566Nope
Originally Posted by Tiny12 [View Original Post]
By the time those tax cuts had evaporated for the lower and middle income margins, Trump and his fellow Repubs had apparently planned to overthrow American democracy enough not to worry about losing anymore elections on the basis that their Jobs Creating and Economy Expansion record of results vs that of the Dems has been atrocious since the late 1920's.
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05-07-23 21:20 #12284
Posts: 2012Originally Posted by JustTK [View Original Post]
Tiny was absolutely right debunking this notion with an unimpeachable fact that economically successful socialist states have never existed in the world history.
Thus, your statement is false. There is no proof that "open markets can function well under socialism. " This has never happened before.
NB. I hope you do realize (unlike Bernie Sanders) that neither Denmark nor Sweden are socialist countries. It's quite sad when an old man calls himself a "democratic socialist" with no clue of what socialism really is.
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05-07-23 20:22 #12283
Posts: 1839Originally Posted by Tiny12 [View Original Post]
If you want a discussion on pros / cons, we can have it. But first please recheck before we start that you understand the difference between social democracy and democatic socialism.
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05-07-23 20:17 #12282
Posts: 1839Originally Posted by Tiny12 [View Original Post]
Interesting how you feel about your fellow countrymen. It would be interesting to see some stats on this. My hunch would be that they are right wing and close to centre on liberal-authoritarian axis.
If you are correct, then that would speak volumes about your so-called democracy. Bcos then the government would not be representing the people's interests. How surprising is that! Hehe.
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05-07-23 20:10 #12281
Posts: 1839Originally Posted by Tiny12 [View Original Post]
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05-07-23 19:43 #12280
Posts: 1807The Republicans' 2017 tax cuts made our tax system more progressive
Just from looking at the changes in the tax tables after the 2017 Tax Cuts and Jobs Act (TCJA) I could tell the TCJA made our tax system more progressive -- see Tables 1 and 2, here:
https://taxfoundation.org/final-tax-...ails-analysis/
But Democrats could argue the tax tables alone don't take into account the effects of the Qualified Business Income deduction and some other changes to the tax code implemented by the TCJA, which preferentially benefitted higher income earners.
Well, Justin Haskins figured out a nifty way around this problem. He simply compared the percentage change in average federal income taxes paid by filers in various income groups before (2017) and after (2018) the TCJA. You can see the results in the last column in Table 1, on page 3, here:
https://heartland.org/wp-content/upl...cy%20Paper.pdf
The results are striking. Tax returns showing income in the range of $1 to $20,000 saw income taxes reduced by 27% to 88%. Those filers making from $20,000 to $100,000 paid 15% to 21% less tax. Taxpayers in the $100,000 to $500,000 brackets paid 11% to 13% less. And those making in excess of $500,000 paid only 3% to 9% less.
So when you hear someone say that the Republican tax cuts just helped the better off and didn't do jack for the workingman, realize he's full of it.
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05-07-23 18:53 #12279
Posts: 1807Originally Posted by JustTK [View Original Post]
Originally Posted by JustTK [View Original Post]
The Soviet Union
Poland
Czechoslovakia
Hungary
Romania
Bulgaria
Yugoslavia
Venezuela
Cuba
Nicaragua
Bolivia
Originally Posted by JustTK [View Original Post]
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05-07-23 18:35 #12278
Posts: 1807Originally Posted by LivingFossil [View Original Post]
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05-07-23 17:49 #12277
Posts: 169Originally Posted by JustTK [View Original Post]
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05-07-23 15:49 #12276
Posts: 1839Originally Posted by LivingFossil [View Original Post]
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05-07-23 04:25 #12275
Posts: 169The most important political issue: Legalized Prostitution in America
If you are running for president I don't care what are your other issues if you support making it legal in America and unlocking Americas greatness then I will vote for you.
Who or when is this going to happen?
Traveling for sex outside of America sucks, but America is an amazing country!
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05-06-23 23:28 #12274
Posts: 1839Originally Posted by Elvis2008 [View Original Post]
Now, on to the more interesting and significant matter of your ignorance of socialism. It is very clear from your comments that you have no idea what socialism is. I am not surprised. It is intentional BS propaganda that you have bought in to from your leaders, deliberate misinformation designed so that you will hate the idea of socialism. It has been a deliberate USA policy since the 1940's and 50's.
Have you ever taken the political compass test? Give it a go. It is pretty interesting, and also you will learn smthg - https://www.politicalcompass.org/test.
A political position is a combination of 2 positions you have a position on the horiz axis and on the vert axis. Horiz is left / right views, vert axis is authoritarian / libertarian. Hence you will learn that authoritarianism has nothing to do with socialism. A govt can be equally authoritarian or libertarian both to the left and to the right. So your comments about dictatorships and socialism are just garbage. Have you never heard of anarcho-socialism? It's a form of socialism without any government control. Examples of right wing dictatorships : Nazi Germany, Fascist Italy, Estado Novo, Francoist Spain, various governments in Colombia, Chile, Brazil since WW2.
Socialism is the worker ownership of the means of production. I have told you this before. Likewise you do not understand what capitalism private ownership of the means of production. Size of govt, rule of law, open markets these are irrelevant to what capitalism is. Open markets can function well under socialism. I explained this to you before. "regulatory efficiency" I dunno what this means.
"Capitalism rewards the hardest working and savviest" I could not disagree with any stronger. It most certainly does not. It rewards the wealthy and the most selfish and ruthless. That much is clear from fundamentals. And there are plenty of rewards for hard work under socialism too.
Hitler I answered this in my prev comments. You clearly didn't read what I wrote. Hitler privatized several industries, murdered and incarcerated socialists. Nearly every action he took was UN-socialist. https://www.abc.net.au/religion/nazi...story/10214302.
Again Elvis, you clearly need to do some research in to what socialism is You have bought in to the US govt propaganda lie that it is some murderous dictatorial plot to remove everyone's freedoms and happiness. And the examples you give are all of authoritarian social democracies (I. E. 'bad' capitalist countries). Try reading this for starters:
https://www.socialism101.com/basic
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05-06-23 21:30 #12273
Posts: 126Great site
Originally Posted by JohnClayton [View Original Post]
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05-06-23 20:32 #12272
Posts: 756Originally Posted by Elvis2008 [View Original Post]
https://www.thoughtco.com/difference...cialism-195448#text=The%20 main%20 difference%20 is%20 that, by%20 a%20 democratically%2 Delected%20 government.