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Subject: "Recession" Previous topic | Next topic
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Grayfox2Tue Dec-19-17 09:33 AM
Member since Nov 07th 2012
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"Recession"


          

The economy has been rolling along pretty good since the great recession and so far no interference from Trump and the republicans. That may be about to change with this tax scam since the money the corporations and the ultra rich will get will come from borried money. The repugs will have a fix for that by cutting social programs. Even if the dems can capture the house or senate next fall they still won't be able fix the tax scam since there is going to be a repug president no matter what the special prosecuter does. Just my 2 cents worth.

  

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MadSatyristSat Dec-23-17 04:06 AM
Member since May 14th 2002
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"The tax scam is absolutely ridiculous."
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There are so many loopholes and weird nonsense things in it, that it's guaranteed to cause a recession no matter what.

Examples:

In their eagerness to punish Blue states, they managed to give a negative tax cut to everyone making less than 250K per year that was itemizing in New York, California, New Jersey and several others. Those states have never gone into recession without dragging the rest of the country with them, AFAIK.

They set a minimum tax on offshore facilities of 10%, on EXCESS PROFIT, IOW, profit in excess of 10% return on facility cost. This gives a gargantuan incentive to offshore, and another gargantuan incentive to merge with lower profit feeder companies and offshore both, to get enough facilities offshore to get below that magic 10%, thus paying zero tax. (None of them seemed to notice that the only reason this stuff works in Europe is VAT.)

Bringing in all that ridiculous cash while companies were already sitting on 2.3 trillion in cash means more mergers.

Between mergers costing jobs and offshoring, plus the recession guaranteed in the big Blue states, we're going down HARD. Given FED rules, we'll probably see it admitted that we're in recession "due to unexpected effects of the tax bill" about July of 2019.

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Delusions, errors and lies are like huge, gaudy vessels, the rafters of which are rotten and worm-eaten, and those who embark in them are fated to be shipwrecked. Buddha

  

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