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Trump tax reform! Latest CBO update shows increase in deficit projections of 1 trillion over next 4 years, growth has failed to meet 3% goal. National Association for Business Economics: 84% of companies say tax reform has not caused them to alter plans.

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For those happy with your tax breaks - remember yours only last a few years - while the top 1% are getting their breaks "permanently" 

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1 hour ago, The Dude said:

For those happy with your tax breaks - remember yours only last a few years - while the top 1% are getting their breaks "permanently" 

Not to mention bankrupting the country but hey, enjoy those couple of extra racks.

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47 minutes ago, Sheriff Bart said:

Not to mention bankrupting the country but hey, enjoy those couple of extra racks.

Exactly.  And now needing to cut programs cause we have less tax dollars.  Brilliant!!

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2 minutes ago, Sheriff Bart said:

Q1 GDP tracking at 2.1% and that's the high end of estimates.   Some are as low as 1%.   

It's all because of the FED interest rates, nothing to do with the guy in charge

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5 minutes ago, Sheriff Bart said:

Q1 GDP tracking at 2.1% and that's the high end of estimates.   Some are as low as 1%.   

GDP is just doing that to embarrass Trump

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13 minutes ago, jomar said:
19 minutes ago, Sheriff Bart said:

Q1 GDP tracking at 2.1% and that's the high end of estimates.   Some are as low as 1%.   

GDP is just doing that to embarrass Trump

Stupid liberal statistics...

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BEST ECONOMY EVER!!

For real though, remember how Trump railed on Obama about poor GDP growth and fake unemployment numbers?

How his supporters are so quick to simply pile onto whatever topic in whatever direction dear leader wants is beyond me.

All in an effort to keep immigrants out of America.  I'm sorry, "illegal" immigrants.

SMH

 

 

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I had wondered out loud in this thread when the bill was coming into shape how the military families would be impacted on benefits and classification of such....primarily survivor benefits.  Looks like the results are trickling in and shocking, it's not good.  All the "I got mine" people need to understand who they're getting it from....going from 12-15% up to well over 35%?  Disgusting.

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16 minutes ago, The Commish said:

I had wondered out loud in this thread when the bill was coming into shape how the military families would be impacted on benefits and classification of such....primarily survivor benefits.  Looks like the results are trickling in and shocking, it's not good.  All the "I got mine" people need to understand who they're getting it from....going from 12-15% up to well over 35%?  Disgusting.

Yeah. I could live to be 250 years old and I will never understand where anyone gets off taxing benefits for survivors whose parents died serving our country. 

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17 minutes ago, The Commish said:

I had wondered out loud in this thread when the bill was coming into shape how the military families would be impacted on benefits and classification of such....primarily survivor benefits.  Looks like the results are trickling in and shocking, it's not good.  All the "I got mine" people need to understand who they're getting it from....going from 12-15% up to well over 35%?  Disgusting.

For as much as conservatives rail against the estate tax, it is pretty interesting that would impose/raise this "death" tax...

Edited by Slapdash
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1 hour ago, Slapdash said:

For as much as conservatives rail against the estate tax, it is pretty interesting that would impose/raise this "death" tax...

"interesting" is one way to go.....

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This is a feature of the Trump presidency: better than expected Q1 GDP growth of 0.8%, 3.2% annualized, gets buried by Trump's attacks on sleepy Joe and Meueller, and defense of "both sides". Diving into the GDP figures, economist point to large but unsustainable inventory growth and weak final private demand. A slowdown is expected in the coming quarters, we'll see.

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2 minutes ago, SoBeDad said:

This is a feature of the Trump presidency: better than expected Q1 GDP growth of 0.8%, 3.2% annualized, gets buried by Trump's attacks on sleepy Joe and Meueller, and defense of "both sides". Diving into the GDP figures, economist point to large but unsustainable inventory growth and weak final private demand. A slowdown is expected in the coming quarters, we'll see.

Which was projected to be 2022-24 if he'd have just left things going as they were when he took office.  

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2 minutes ago, SoBeDad said:

This is a feature of the Trump presidency: better than expected Q1 GDP growth of 0.8%, 3.2% annualized, gets buried by Trump's attacks on sleepy Joe and Meueller, and defense of "both sides". Diving into the GDP figures, economist point to large but unsustainable inventory growth and weak final private demand. A slowdown is expected in the coming quarters, we'll see.

unsustainable inventory growth and weak consumer demand are pretty bad indicators

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On 4/16/2019 at 10:48 AM, The Dude said:

Exactly.  And now needing to cut programs cause we have less tax dollars.  Brilliant!!

That's a feature not a bug. 

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Anyone else appreciate the blatant hypocrisy of these hedge fund managers, large corporation managers slinging around the "socialist" tag after getting their handout from the government?  :lmao: 

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For the "stock market is killing it" guys

Historical perspective for those who believe a single individual has enough direct impact on the stock market all by themselves to use it as "evidence" of anything meaningful.  Also for those thinking the tax cuts still have some positive impact to be shown moving forward.

Edited by The Commish
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5 minutes ago, GoBirds said:

https://www.google.com/amp/s/www.cnbc.com/amp/2019/04/26/gdp-q1-2019-first-read.html

 

Sky is falling! Have a good weekend, hopefully we all survive in these tough times. :lmao:

One big quarter....posts it as fast as they can.

Next quarter when it’s lower or when the number gets downgraded...:crickets:

See you next quarter...or not.

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Just now, GoBirds said:

https://www.google.com/amp/s/www.cnbc.com/amp/2019/04/26/gdp-q1-2019-first-read.html

 

Sky is falling! Have a good weekend, hopefully we all survive in these tough times. :lmao:

The sky started falling 10 years ago at the neighborhood ball with Stevie Wonder and Sting performing Brand New Day: https://m.youtube.com/watch?v=fZCxQ7xmrmI

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5 minutes ago, GoBirds said:

https://www.google.com/amp/s/www.cnbc.com/amp/2019/04/26/gdp-q1-2019-first-read.html

 

Sky is falling! Have a good weekend, hopefully we all survive in these tough times. :lmao:

Only the echo chamber can keep digging themselves in a hole this deep!  Remember, we still have Obama to thank for this.  :lmao:

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6 minutes ago, GoBirds said:

https://www.google.com/amp/s/www.cnbc.com/amp/2019/04/26/gdp-q1-2019-first-read.html

 

Sky is falling! Have a good weekend, hopefully we all survive in these tough times. :lmao:

Hey @GoBirds I’m glad the economy is doing well and I don’t agree with some of the people here; I think Trump’s tax cuts and deregulation are a responsible for a lot of it. I don’t like the long term consequences of increasing the debt and I believe his trade policies are quite damaging, but we may not see the consequences of either before 2020. 

Obviously Trump’s best message for re-election is how well the economy is doing. Yet I notice that he seems unable to stick to it. If he had only talked about the economy last November he might have stemmed the Democratic tide a little; instead he went on and on about the migrant threat. Now he’s doing it again. Look at his speech today to the NRA. Today of all days he should be glorying in the economy. He barely mentioned it. Instead it was Mueller, the wall which he isn’t going to build, a defense of his Charlottesville statement. It was bizarre. Of course his audience lapped it up. But this stuff isn’t going to get him a second term. 

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13 minutes ago, Don't Noonan said:

Only the echo chamber can keep digging themselves in a hole this deep!  Remember, we still have Obama to thank for this.  :lmao:

The faux outrage of the regulars is priceless. 

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I should also add that the added military spending is another big part of the economic growth. 

This troubles me as well, for different reasons than the tax cuts. Putting aside the fact that it’s being done on a big credit card (we’re paying for it by adding to the deficit) it’s one part of the economic growth that IS sustainable- and that’s the problem, the same problem that Eisenhower was concerned about 70 years ago. Every time we rely on military spending as a catalyst for economic growth, it makes it much more difficult to cut that spending or to transfer to new, smarter technologies as they become available- too many jobs are lost in the transition, and politicians become chained to the sacred cows of certain bases and industries. And so we become slaves to antiquated systems and spend more and more in the wrong direction as we try to hold on to what we have. This is the military-industrial complex that Ike warned us about. Trump, like almost every President before him, has simply taken the easy way out here by continuing and ramping up the process, and why not? It produces instant jobs, instant growth. Who cares that we don’t need that extra submarine? 

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2 minutes ago, dkp993 said:

See post directly above yours.  There is a major problem and has been for a long time.  

It's a feature :shrug: 

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9 minutes ago, dkp993 said:

See post directly above yours.  There is a major problem and has been for a long time.  

Mark me on the list of people cool with taxing the 3 richest families in the country, no argument there. 

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1 hour ago, sho nuff said:

One big quarter....posts it as fast as they can.

Next quarter when it’s lower or when the number gets downgraded...:crickets:

See you next quarter...or not.

It’s like you’re hoping for a bad economy 

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3 hours ago, The Commish said:

Anyone else appreciate the blatant hypocrisy of these hedge fund managers, large corporation managers slinging around the "socialist" tag after getting their handout from the government?  :lmao: 

Priceless?

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Bad news again, economy up, jobs up, consumer confidence up.  Things have to slow down are we are screwed. I don`t get it.

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22 minutes ago, HellToupee said:

It’s like you’re hoping for a bad economy 

It is?  It’s like you didn’t even read what I said and inferred something completely different. 

 

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Trump's second year in office compared to history

Can't remember if I posted this here already or not....if I did, apologies for the :honda:

If not, it's a decent summary of where Trump performed compared to other Presidents.  Figured this thread was the best one to put it in because of all the "but the stock market" talk....

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46 minutes ago, The Commish said:

Trump's second year in office compared to history

Can't remember if I posted this here already or not....if I did, apologies for the :honda:

If not, it's a decent summary of where Trump performed compared to other Presidents.  Figured this thread was the best one to put it in because of all the "but the stock market" talk....

Between tax cuts and increased spedning Congress gave Trump more stimulous in a healthy economy than Obama got in a financial crisis. We're running on credit cards and we are going to PARTY!!!

Dems will once again come in and have to clean up the mess as some point. And will be punished accordingly. 

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49 minutes ago, The Commish said:

Trump's second year in office compared to history

Can't remember if I posted this here already or not....if I did, apologies for the :honda:

If not, it's a decent summary of where Trump performed compared to other Presidents.  Figured this thread was the best one to put it in because of all the "but the stock market" talk....

Needs to be put in the title...it is not long enough.

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On 4/26/2019 at 1:53 PM, timschochet said:

I should also add that the added military spending is another big part of the economic growth. 

This troubles me as well, for different reasons than the tax cuts. Putting aside the fact that it’s being done on a big credit card (we’re paying for it by adding to the deficit) it’s one part of the economic growth that IS sustainable- and that’s the problem, the same problem that Eisenhower was concerned about 70 years ago. Every time we rely on military spending as a catalyst for economic growth, it makes it much more difficult to cut that spending or to transfer to new, smarter technologies as they become available- too many jobs are lost in the transition, and politicians become chained to the sacred cows of certain bases and industries. And so we become slaves to antiquated systems and spend more and more in the wrong direction as we try to hold on to what we have. This is the military-industrial complex that Ike warned us about. Trump, like almost every President before him, has simply taken the easy way out here by continuing and ramping up the process, and why not? It produces instant jobs, instant growth. Who cares that we don’t need that extra submarine? 

I realize this is from almost a month ago, but I just want to remind you that there is a reason that conservatives use the "multiplier effect" of military spending (in an economy where unemployment is less than 12%) as a proxy for the multiplier effect for all government spending.   It is because, except when unemployment is really high the multiplier effect for military spending is less than 1.  That is it returns less than a dollar to the economy for every dollar spent.   And while this part is just me speculating, the reason seems obvious.  Most of the dollars spent are going to those in income brackets where the marginal propensities to spread those dollars around are all low.

While obviously those directly employed by defense contractors would be harmed economically if cut off the funding, the economy should actually perform better overall if those 70¢ on the dollar multiplier values are correct (though I guess there are ways to allocate that spending which would do even less for the economy).

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