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Trump honey moon over?

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mosschops
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Re: Trump honey moon over?

#87339

Postby mosschops » October 11th, 2017, 9:07 am

DiamondEcho wrote:Well what leader presents a policy without 'grandstanding' it?
AFAIUI Trump doesn't want to be 'revenue neutral', he wants to cut taxes for everyone. I read a left-perspective column that decried the proposed cuts because they would in the short-term allegedly reduce deficit reduction. Pinch yourself - when ever have the left cared about that, and gone on to do it?
The fact is that high domestic corporate tax rates dissuade repatriation of offshore profits. So they aren't repatriated and put to work 'back home'. I don't see a downside to encouraging such repatriation.
Simplifying the tax-code is going to be good for just about everyone except tax accountants. I've made the analogy before - look at the dynamism of the Singapore economy. There most people don't ever file a tax return in their lives. For most that have to it's a single page long. Compare that to the US where you have to file Federal and State returns, and if you are say an employee with a buy-to-let and a few investments your completed return might end up as thick as a telephone directory [like mine did one year!].
AIUI in the longer-term post-election of Trump the market has rallied, but it hasn't assumed the tax bill will pass yet, it sees the potential for Dems not wanting tax-cuts [lol]. It'll be interesting to see how they argue against it, if there is more to it than making deficit-reduction the alt. sole concern.


In the US? Pretty much every term under a Democrat since before Carter (that's as far back as I can be bothered to go). Carter came in, deficit at 2.5%, left at 2.4%. Reagan in, deficit higher every year than any year of Carter. Brought it back slightly at the end. GB Snr, from 2.9 to 4.4. Clinton reduced it from 4.4 to a surplus, which GB Snr kept for a year, ended up running a deficit every other year but still smallish, then Obama ran a large one first year with stimulus and reduced it every year apart from last year. Only 4 years in surplus in total, all for Clinton.

EDIT: source https://www.thebalance.com/us-deficit-by-year-3306306

odysseus2000
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Re: Trump honey moon over?

#147232

Postby odysseus2000 » June 22nd, 2018, 5:57 am

Interesting how folk are viewing the latest Trump watch events in tariffs & the Surpreme court decision to allow States to tax on-line out of State business.

Both of these events can potentially raise US consumer prices. The Sales tax decision has been seen as a win for Amazon as they have the capability to easily implement it whereas many smaller companies do not. Can't say I am convinced by that argument, but more importantly will this be used to impose retrospective taxes by States? Kind of doubt it, but if I was a State attorney general would I have politicians demanding I try?

Whether tariffs & Internet sales tax mark sone important point that we will look back to & say was a turning point Is impossible to say, but they are potentially significant events with associated consumer costs.

Kind of interesting to see how US markets react.

Regards,


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