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 Post subject: Jeffrey Sachs write letter opposing "tax cut" legislation
PostPosted: Mon Nov 20, 2017 1:19 pm 
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The upshot of the letter is that the advertised tax cut is just a deferred tax increase that will ultimately be paid by the middle class.

http://www.cnn.com/2017/11/20/opinions/dear-senators-dont-bankrupt-our-country-sachs/index.html

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 Post subject: Re: Jeffrey Sachs write letter opposing "tax cut" legislatio
PostPosted: Mon Nov 20, 2017 1:50 pm 
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This is the "End of Poverty" dude.

He wants the developed world to give away 1% of GDP to third world shitholes so they can buy air conditioners and big screens. This is a Trojan Horse. I don't find it credible he is suddenly having heartburn over the deficit.

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 Post subject: Re: Jeffrey Sachs write letter opposing "tax cut" legislatio
PostPosted: Tue Nov 21, 2017 11:39 am 
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The tax cuts will bring prosperity, which is the last thing liberals want, especially during a Trump administration. Increased revenues, full employment, a growing economy- this is the nightmare scenario for democrats. They will fight it tooth and nail.

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 Post subject: Re: Jeffrey Sachs write letter opposing "tax cut" legislatio
PostPosted: Tue Nov 21, 2017 5:28 pm 
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doggie wrote:
The tax cuts will bring prosperity, which is the last thing liberals want, especially during a Trump administration. Increased revenues, full employment, a growing economy- this is the nightmare scenario for democrats. They will fight it tooth and nail.

The tax cuts will bring prosperity, but to who?

I doubt your benefit in that project. ;)

So it goes.

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 Post subject: Re: Jeffrey Sachs write letter opposing "tax cut" legislatio
PostPosted: Tue Nov 21, 2017 5:34 pm 
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Tax cuts bring prosperity is a tried and failed axiom.

Of course, the current proposal isn't really a tax cut. When that debt reaches 150% of GDP the money will have to come from somewhere. Someone's gonna get taxed. Who will it be?

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 Post subject: Re: Jeffrey Sachs write letter opposing "tax cut" legislatio
PostPosted: Tue Nov 21, 2017 5:43 pm 
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mdiehl wrote:
Tax cuts bring prosperity is a tried and failed axiom.

Of course, the current proposal isn't really a tax cut. When that debt reaches 150% of GDP the money will have to come from somewhere. Someone's gonna get taxed. Who will it be?

You. ;)

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 Post subject: Re: Jeffrey Sachs write letter opposing "tax cut" legislatio
PostPosted: Tue Nov 21, 2017 5:52 pm 
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Pretty sure you are correct.

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 Post subject: Re: Jeffrey Sachs write letter opposing "tax cut" legislatio
PostPosted: Tue Nov 21, 2017 5:58 pm 
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Personally, I am going to get murdered by the elimination of the SALT deduction although this will be partly offset by AMT elimination and marginal rate reductions...it might even be a wash as long as the mortgage interest deduction is grandfathered in.

Dana Rohrbacher, my Congressman actually voted against the bill.

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