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 Post subject: Re: Tax reform
PostPosted: Tue Jan 02, 2018 1:41 pm 
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I agree smart cuts work better than dumb cuts. Downsizing the armed forces would generate such savings that the remaining force could be better-trained and yet save money.

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 Post subject: Re: Tax reform
PostPosted: Wed Jan 03, 2018 11:45 am 
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Notice that while Obama was more than doubling the national debt Nero thought it was a grand thing but now that Trump might add 1.5 trillion it's the end of the world.

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 Post subject: Re: Tax reform
PostPosted: Wed Jan 03, 2018 12:01 pm 
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Obama didn't double it. Baby boomer retirements coupled with decades of financing the DoD on the back of the Social Security revenue surplus doubled it.

Yeah, surplus. Social Security ran a huge current accounts surplus for decades. Reagan, Bush, Clinton, and Chimpy used the surplus to make the apparent deficit seem smaller in order to subsidize the dod budget. Now the social conservatives who stole the money want to blame growing Medicare and Social Security costs on bloated "entitlements." They'd be fully funded if the militarists had not stolen the surplus revenues generated by FICA and Medicare for thirty years.

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 Post subject: Re: Tax reform
PostPosted: Wed Jan 03, 2018 12:09 pm 
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NefariousKoel wrote:
Many in the EU are shitting the bed because a lowered corporate tax rate in the US means they'll experience more competition for business investment & interests.


Bingo!

The corporate tax cuts will make America a far more attractive place to invest money. And if the US economy continues to surge forward, it is only time before interest rates will have to be increased.

If the EU cannot match that, billions will move across the Atlantic to take advantage of those interest rates as currently, folks with money in the banks in Europe are essentially bailing out the banks over here who are, for all intents and purposes, insolvent.

Mind you, if the EU payed its fair share in NATO, perhaps we wouldn't have to dump so much money into our military.

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 Post subject: Re: Tax reform
PostPosted: Wed Jan 03, 2018 12:14 pm 
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That is pretty damn glib to blame deficit spending on Bush. There is plenty of blame to go around.

The only two major leaders who routinely talk about entitlement reform are Paul Ryan and Rand Paul and they are routinely attacked as kooks.

Obamacare was designed to not "pay for itself" in the out years. What about the Porkulus bill? Medicaid expansion? Where did that money come from?

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 Post subject: Re: Tax reform
PostPosted: Wed Jan 03, 2018 12:45 pm 
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It's not glib it's accurate. And I didn't blame Bush, I blamed Reagan, GHW Bush, Clinton, and GW Bush. I should have included Obama too because he did nothing to address the problem and instead continued the failed policies of his predecessors. Of those, the most culpable is GW Bush, for starting a four trillion dollar elective war in Iraq that had nothing in the slightest to do with defending Americans' lives or liberties, or the USA's sovereignty. Shrub: Worst. President. Ever.

And Lava is right. The US could cut DoD spending if the parasite nations in Europe would spend enough on their own armed forces to defend themselves and also shoulder their share of "global stabilization deployments" assuming that anyone outside the US thinks those are needed. And if they're not needed, why are Americans paying to make Indonesia and Pakistan safe places to offshore jobs?

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 Post subject: Re: Tax reform
PostPosted: Fri Jan 19, 2018 4:49 pm 
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http://freebeacon.com/issues/apple-ceo- ... nvest-u-s/

Quote:
Apple CEO: Tax Reform ‘Enabled Most of This Job-Creating Plan’ to Invest in the U.S.


BY: Paul Crookston
January 18, 2018 7:19 pm

Apple CEO Tim Cook said Wednesday that the company’s newly announced investments came in part thanks to Republicans’ tax reform law.

Cook said Apple’s efforts on this front were "in the works" before the law was passed, but he credited the new tax code with enabling it, CNBC’s Jim Cramer reported. One aspect of Republicans' tax reform allows companies to repatriate overseas capital back to the United States, creating new economic activity.

"While some of these efforts were indeed in the works, Washington enabled most of this job-creating plan to occur by changing the tax code to allow companies to return capital to all stakeholders," Cook told Cramer Wednesday.

Cramer also related Cook's argument that Apple’s investments would have a large effect on the economy.

"[Cook] said, ‘Look the people very much want to participate in the upside of the company and this is a longer-term way than a one-time cash bonus,’" Cramer said.

The new repatriation tax rate is 15.5 percent under the new tax code, meaning that Apple is paying about $38 billion to bring about $245 billion back to the U.S. The one-time repatriation tax allows companies to free up cash previously held overseas.

Apple announced Wednesday that its investment in the American economy would be more than $350 billion over the next five years.

"Combining new investments and Apple’s current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple’s direct contribution to the U.S. economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products," the company said in a statement.

Cramer also said Apple’s private investment will do more to create wealth and job opportunities than a government program.

"Frankly, I think Apple's view of how to generate jobs, how to create wealth away from the shareholder base, is probably a heck of a lot better than anything the government could ever do," Cramer said.

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 Post subject: Re: Tax reform
PostPosted: Fri Jan 19, 2018 5:09 pm 
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Ut-oh...Timmy...you are not going to be invited to all the fancy New York and Hollywood parties any more.

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 Post subject: Re: Tax reform
PostPosted: Fri Jan 19, 2018 5:18 pm 
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chijohnaok wrote:
http://freebeacon.com/issues/apple-ceo-tax-reform-enabled-job-creating-plan-invest-u-s/

Quote:
Apple CEO: Tax Reform ‘Enabled Most of This Job-Creating Plan’ to Invest in the U.S.


BY: Paul Crookston
January 18, 2018 7:19 pm

Apple CEO Tim Cook said Wednesday that the company’s newly announced investments came in part thanks to Republicans’ tax reform law.

Cook said Apple’s efforts on this front were "in the works" before the law was passed, but he credited the new tax code with enabling it, CNBC’s Jim Cramer reported. One aspect of Republicans' tax reform allows companies to repatriate overseas capital back to the United States, creating new economic activity.

"While some of these efforts were indeed in the works, Washington enabled most of this job-creating plan to occur by changing the tax code to allow companies to return capital to all stakeholders," Cook told Cramer Wednesday.

Cramer also related Cook's argument that Apple’s investments would have a large effect on the economy.

"[Cook] said, ‘Look the people very much want to participate in the upside of the company and this is a longer-term way than a one-time cash bonus,’" Cramer said.

The new repatriation tax rate is 15.5 percent under the new tax code, meaning that Apple is paying about $38 billion to bring about $245 billion back to the U.S. The one-time repatriation tax allows companies to free up cash previously held overseas.

Apple announced Wednesday that its investment in the American economy would be more than $350 billion over the next five years.

"Combining new investments and Apple’s current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple’s direct contribution to the U.S. economy will be more than $350 billion over the next five years, not including Apple’s ongoing tax payments, the tax revenues generated from employees’ wages and the sale of Apple products," the company said in a statement.

Cramer also said Apple’s private investment will do more to create wealth and job opportunities than a government program.

"Frankly, I think Apple's view of how to generate jobs, how to create wealth away from the shareholder base, is probably a heck of a lot better than anything the government could ever do," Cramer said.

The question is what Apple is going to do with rest of the money, after taxes?

Yes, invest some $20 billion for research is a good thing.

But where to invest the rest? Duh, buying back own stock is the best investment.

Mark my words.

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 Post subject: Re: Tax reform
PostPosted: Fri Jan 19, 2018 5:52 pm 
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It remains to be seen what Apple does with the money.

Cook states that they are spending $55 billion on domestic suppliers and manufacturers in 2018 alone. That means jobs. People earning wages. People earning wages who will be paying income taxes.

Even if they do spend some of it on buying back their own stock, that is not necessarily a bad thing.

Roughly 60% of Apple's stock is owned by institutional groups (pension funds, mutual funds (largely 401k retirement funds), etc.
That is of benefit to those stockholders, pension recipients, retirees and investors.

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