When Lower Tax RATES Produce Higher Tax Revenue
POSTED BY: JEWELSTAITEFAN
UPDATED: Thursday, July 4, 2019 03:19
VIEWED: 9588
PAGE 6 of 8
Quote:The President's scheduled visit was pushed back a day to 28 June. It is some ceremonial event in Mount Pleasant. So we might hear some speechifying.
Originally posted by JEWELSTAITEFAN:Quote:Some have said the FOXCONN agreement was just a scam, because other preliminary agreements never resulted in Groundbreaking.
Originally posted by JEWELSTAITEFAN:Quote:I just saw the news report that the FOXCONN package included 17% Tax reduction.
Originally posted by JEWELSTAITEFAN:
Not sure if FOXCONN has been mentioned around here. It is a tech company building a huge manufacturing complex in Southeast Wisconsin.
They worked out a contract with Gov Scott Walker, and a reduced Tax Rate was involved. Something like 15,000 jobs will be created just from the facility directly.
Some have claimed it was just a PR scam, it wouldn't really happen. The process to draw 7,000,000 gallons of water per day from Lake Michigan is being worked out.
Not a guarantee, but today was announced that FOXCONN purchased a 7 story building in downtown lakefront Milwaukee for their US HQ.
A few days ago FOXCONN broke ground on their Racine campus.
Locals pronounce Racine as RUH-seen.
For those not familiar with the region, Racine and Kenosha Counties are along Lake Michigan, South of Milwaukee to the Illinois border. Both Counties have lots space available, yet the southeast corner of Wisconsin accounts for 60% of the State's population. And across the stateline is considered ChicagoLand.
This is about 60 miles south of Harley Davidson HQ, which just decided to move production overseas to avoid the $100 Million Tariffs.
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Goldman Sachs: Trump’s tax cuts could cause recession
https://nypost.com/2018/05/21/goldman-sachs-trumps-tax-cuts-could-caus
e-recession/
Hardly a liberal talking here.
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Somehow today I managed to barely miss some demonstration while I was downtown.
Apparently folk were whining that Trump was allowing Federal Law Enforcement Officers to Enforce the Law.
I learned that it happened about a block away from a vacant building which was just announced in the past 2 days as being picked up by FOXCONN, who will employ another 200 office workers here. This is about 3 hour drive from the Mount Pleasant site of the FOXCONN manufacturing campus.
I found the timing and placement somewhat ironic.
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Quote:
Originally posted by reaverfan:
Goldman Sachs: Trump’s tax cuts could cause recession
https://nypost.com/2018/05/21/goldman-sachs-trumps-tax-cuts-could-caus
e-recession/
Hardly a liberal talking here.
Who are you referring to when you say "Hardly a Liberal talking here"?
Do Right, Be Right. :)
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Larry Kudlow wrong about deficits falling rapidly under Donald Trump
http://www.politifact.com/truth-o-meter/statements/2018/jul/02/larry-k
udlow/larry-kudlow-wrong-about-deficits-falling-rapidly-/
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Quote:Having politifact and truth-o-meter in the same address is unfathomably hilarious.
Larry Kudlow wrong about deficits falling rapidly under Donald Trump
http://www.politifact.com/truth-o-meter/statements/2018/jul/02/larry-k
udlow/larry-kudlow-wrong-about-deficits-falling-rapidly-/
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Copied from the thread on Trump's Budget, here is some proof from even the Libtard Deep State Obamabots:
Quote:This was from 12 April.
Originally posted by JEWELSTAITEFAN:
Copied from a delusional thread:Quote:Another ridiculous post quoted for posterity.
Originally posted by second:
The Republicans’ $1.5 trillion tax cut will increase the federal debt by $1.9 trillion.
This comes from Table B-3 in the Congressional Budget Office report, page 129, so far in the back that no one reads it. The exact figure is $1.854 trillion from 2018 to 2028. That number was promised by Trump to be zero dollars or even a negative number.
www.cbo.gov/publication/53651
In other words, the tax cut doesn’t pay for itself. It doesn’t even partially pay for itself.
www.motherjones.com/kevin-drum/2018/04/cbo-projects-1-5-trillion-tax-c
ut-will-cost-1-6-trillion/
I guess I may have not spelled out how ridiculous it was.
Using CBO Deficit figures:
FY April18 May18 difference (savings)
28 $1526B 1087B $439B / $2957B
27 $1316B $965B $351B / $2518B
26 $1320B $893B $427B / $2167B
25 $1352B $895B $457B / $1740B
24 $1244B $859B $385B / $1283B
23 $1273B $971B $302B / $897B
22 $1276B 1039B $237B / $595B
21 $1123B $945B $178B / $358B
20 $1008B $866B $142B / $180B
19 $0981B $955B $026B / $38B
18 $0804B $792B $012B
So, even by using the pessimistic projections of Deep State Libtards at CBO, one month after proclaiming their vaunted $1.854 Trillion Debt increase, they admitted that they were a tad off, by $2.957 Trillion. Meaning that $1.5 Trillion Tax Cut Now reaps $1.1 Trillion Debt savings over the next 10 years. That's fully reaping $1.5 Trillion within 7 years, before the added windfall.
second might want to look at his hair being On Fire.
As hard as he had to look, Hunt, search for that page 129, funny how he has managed to avoid Real World Facts intruding upon his delusions.
Golly, I should probably copy this info over to the thread on Lower Tax RATES Produce Higher Tax Revenue.
Although CBO will never use those words, their data proves the premise.
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I heard that NY Gov Cuomo has finally admitted the facts of this title. NY has the highest State Tax rate in the nation. Cuomo announced that State Tax Revenues have LOST $2.3 Billion, even though their population grows.
The top 1% of earners had supplied 47% of the State's Revenues.
Top 5% had supplied over 63% of the State's Revenues.
Top 10% had supplied over 74% of the State's Revenues.
So NY Overtaxed the Taxpayers out of the State.
Not too long ago, New York was the most populous State in the Nation.
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Whatever You Paid to Watch Netflix Last Month Was More Than It Paid in Income Taxes All Last Year: $0
"Netflix posted its largest-ever U.S. profit in 2018—$845 million—on which it didn't pay a dime in federal or state income taxes," writes ITEP senior fellow Matthew Gardner. In fact, the streaming giant received a $22 million return.
https://www.commondreams.org/news/2019/02/05/whatever-you-paid-watch-n
etflix-last-month-was-more-it-paid-income-taxes-all-last
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