Put a âjailhouseâ in front of ârockâ and now weâre talkinâ!
The Republican tax cut is more likely to trigger explosive growth in the deficit and debt than in the economy. Job growth in the short term will be limited to tax accountants and tax attorneys as they learn how to exploit the new rules to lower their taxes below the historically low statutory rates.
More like a half-wit child every day. In a week heâll be saying everyone will have a million bajillion dollars and weâll all go to Disney World and itâll be the bestest Christmas ever!!! President of Cloud Cuckoo Land, with never a thought tied in any very substantial way to the real world.
And when the âeconomic boomâ fails to materialize, then the rationale will shift to âif we hadnât done it, weâd be in a recessionâ.
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Most corporations which got the most benefit from these tax cuts will not change their investment patterns a bit. You might see some additional mergers and consolidations, but money isnât going to go into jobs. If anything, the tax benefit will roll into automation.
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Health insurance premiums will rise â negating any small tax benefit that middle-class families might experience (temporarily, since they expire).
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The REAL AGENDA: use the deficit and loss of tax revenue to gut Social Security, Medicare & Medicaid.
âItâll be fantastic for the middle-income people and for jobs, most of all,â Trump told reporters on the White House lawn before traveling to Camp David for the weekend. âAnd I will say that because of what weâve done with regulation and other things our economy is doing fantastically well, but it has another big step to go and it canât take that step unless we do the tax bill.â
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âI think we could go to 4, 5 or even 6 percent, ultimately,â the president said. âWe are back. We are really going to start to rock.â
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POTUS and the art of bull shit. He is not even very good at it. He inherited a growing economy. President Obama inherited an economy that was in the dumper and dug us out of the worst decline since the Great Depression. Obama saved the auto industry.
When the economy slows -and it will- Trump gets the blame.
I just ran across this which is interesting.
Many economists believe that attaining consistent 4 or 5 percent annual growth would be challenging.
Actually, all economists believe that the economy is incapable of achieving 4 or 5 percent growth for more than a quarter or two. Only an economic illiterate or a shameless liar would suggest that itâs possible. Because Trump is both, heâll go all the way to 6 (or even 11, it you push him).
My issue with â45â doing this is that Kessler (n others) need to reevaulate that âstrike zoneâ. Kessler gave SHS two Pinochios for her response to Obama addressing the Trump âhumble bragâ. Either what she said and â1600â is putting out there, are lies or they arenât, there isnât a middle anymore.
While this tax plan will do little good (and much harm) to millions of middle and lower income Americans, it probably will boost the sales of yachts, luxury cars, expensive homes, and so on.
Some small percentage of this luxury spending will âtrickle downâ to provide jobs producing and maintaining these luxury goods.
Almost none of these jobs will go to moronic Trump voters in low-income, low-education rural and rust belt communities.
Of course most of these moronic Trump supporters will never catch on that theyâve been duped.
The hard-core Trumpsters canât be persuaded, they just have to be out-voted.
Nope, this will tank the economy. Itâs going to sink it like a stone.
Why not 10%? 100%? Think BIGLY!.
The notion that the middle class will be the âbig winnersâ from the GOP tax bill is just another con job from the Trump Family Grifters.
Donnie is the political worldâs version of PT Barnum, regarding the middle class as a clueless cadre of suckers.
His approval is at 32%. The hard core support is dwindling.
Another way to look at it is that his overall support is continuing to erode toward the hardest hard core supportersâŚthose who are the most unlikely to abandon Trump no matter what happens.
I wouldnât be surprised if thereâs 25% who would still support him even if he crushed a puppy under his heel on live TV. Theyâd either dismiss it as âfake newsâ or come up with some reason why the puppy deserved it â and theyâd chortle with perverse joy over the outrage it caused.
The good news is, he canât win re-election with just his hard-core base. The bad news is, he can still do a lot of damage in the meantime.
With full employment and a growing economy, large tax cuts will overheat the economy and will result in a bubble bursting and then another Republican Recession.
There is no evidence whatsoeverâsince the dawn of recorded historyâthat even vaguely suggests that tax cuts for corporations and the uber-rich will stimulate growth or cause an uptick in hiring and wages.
It has never happened before, and it wonât happen nowâno matter how hard the Republicans clap, the tax cut fairy will still not do what they have promised it will do.
But we will have another recession and another Democrat will have to clean up the mess left by the fiscally irresponsible policies of the GOP.
Looks like Trump wants to make the Big blue Wave even bigger next fall:
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President Trump is not on the ballot in 2018, but the White House is planning a full-throttle campaign to plunge the president into the midterm elections, according to senior officials and advisers familiar with the planning.
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Color me unsurprised.