CBO analysis of new tax bill, $100k+ earner gets big cuts, poorer earner will tax more after bill

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Maxima1

Diamond Member
Jan 15, 2013
3,522
759
146
And there he's talking about college tuition inflation, something else that basically everyone agrees is important to rein in.

You really, really need to start reading your own links more closely.

The federal government is not going to run out of money over the Education Department.
 

K1052

Elite Member
Aug 21, 2003
46,885
34,850
136
I think the only saving grace in this for GOP is that the fuse is delayed enough that the real pain won't set in until post 2018. This should be a career ending vote for most of these GOP senators up for relelection. Will see how well the democrats can leverage that position next fall.

A delay didn't stop the electorate from punishing Dems in 2010 when they passed an unpopular bill (ACA). Given the ammunition the GOP has supplied here I think there is going to be hell to pay in any even remotely competitive district. Republicans are going to cease to exist in SALT heavy areas.
 

fskimospy

Elite Member
Mar 10, 2006
84,825
49,527
136
The federal government is going to run out of money over the Education Department.

Now do you think Obama was saying that the United States will literally go bankrupt giving money to colleges or do you think he meant the federal government wouldn't be able to keep paying because it would become politically untenable? Remember, Obama's a pretty smart guy who ran the federal government for almost a decade. It's likely he knows how the Fed works.
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
The federal government is not going to run out of money over the Education Department.

Since we're still taking about Obama (not sure why), did he actually offer to cut SS/Medicare or are you 'assuming' based on running out of money comments? (serious question).
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
Saw where Collins just said that they were making great progress on tax reform...so I suspect she's all in now.
 

Maxima1

Diamond Member
Jan 15, 2013
3,522
759
146
Now do you think Obama was saying that the United States will literally go bankrupt giving money to colleges or do you think he meant the federal government wouldn't be able to keep paying because it would become politically untenable? Remember, Obama's a pretty smart guy who ran the federal government for almost a decade. It's likely he knows how the Fed works.

What do you mean knows how the Fed works? They aren't MMT, and even people like Krugman have said spending needs to be curbed with the dotard won.

How would it be politically untenable? There are tons of Democrats who want college to be free, and GOP proposals for reigning in college costs with online classes, etc. haven't really been popular or resonated. This is mostly a young voters issues.
 

Maxima1

Diamond Member
Jan 15, 2013
3,522
759
146
Since we're still taking about Obama (not sure why), did he actually offer to cut SS/Medicare or are you 'assuming' based on running out of money comments? (serious question).

That's what the grand bargain was about. Tax the rich and GOP gets some of what they want i.e. cuts to the entitlements.
 

bshole

Diamond Member
Mar 12, 2013
8,315
1,215
126
Saw where Collins just said that they were making great progress on tax reform...so I suspect she's all in now.

I bet there are an awful lot of hard nipples in an awful lot of mansions around America today. The Republicans are taking villainy to cartoonish levels.
 
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bshole

Diamond Member
Mar 12, 2013
8,315
1,215
126
That's what the grand bargain was about. Tax the rich and GOP gets some of what they want i.e. cuts to the entitlements.

That is certainly better than taxing the middle class, cutting taxes to the rich and also cutting entitlements.... oh and blowing up the deficit in the face of a strong economy...
 

fleshconsumed

Diamond Member
Feb 21, 2002
6,485
2,363
136
I bet there are an awful lot of hard nipples in an awful lot of mansions around America today. The Republicans are taking villainy to cartoonish levels.
Why, you don't think they have enough money to pay their heating bills?
 

fskimospy

Elite Member
Mar 10, 2006
84,825
49,527
136
What do you mean knows how the Fed works? They aren't MMT, and even people like Krugman have said spending needs to be curbed with the dotard won.

Right, because Krugman knows what he's talking about. And actually what Krugman has said is that we need to reduce debt/GDP as that is a good move during a time of full employment. Also, I have no desire to debate MMT with you, so don't bother.

How would it be politically untenable? There are tons of Democrats who want college to be free, and GOP proposals for reigning in college costs with online classes, etc. haven't really been popular or resonated. This is mostly a young voters issues.

You're free to argue with Obama's political judgment as to what policies could be passed! Regardless, it's pretty obvious that Obama wasn't saying the government would literally go bankrupt paying colleges, which is what you were trying to say. This goes back to my point of needing to read your own links better.
 

Engineer

Elite Member
Oct 9, 1999
39,234
701
126
That's what the grand bargain was about. Tax the rich and GOP gets some of what they want i.e. cuts to the entitlements.

Thanks for that. I had pulled completely out of anything political when all that went down because I was too busy trying to put life back together after plant closing.

Regardless, Obama, Boehner and many of those are gone. The GOP are the only ones left looking to cut entitlements (at least publicly) and are already talking about doing it after the deficit balloons from this tax cut (and it's failure to raise revenue enough from the pipe dreams of big increased economic activity).
 

zinfamous

No Lifer
Jul 12, 2006
110,821
29,576
146
That makes a bad bill even worse. What that means is that they are almost explicitly committing to a tax strategy where we cut taxes during good economic times and raise them during bad economic times. It's literally the polar opposite of economic sense.

It's hard to escape the conclusion that none of them have any idea what they are doing.

Which is exactly why the GOP is wholly dependent on the John Connors of the world to be their unquestioning, loyal voters. It fundamentally does not matter that the majority of people know for a fact that the GOP is completely incompetent, because their base is even more incompetent.
 

Maxima1

Diamond Member
Jan 15, 2013
3,522
759
146
Right, because Krugman knows what he's talking about. And actually what Krugman has said is that we need to reduce debt/GDP as that is a good move during a time of full employment. Also, I have no desire to debate MMT with you, so don't bother.

Krugman changed his stance on it because Trump won. People nailed him for it.

You're free to argue with Obama's political judgment as to what policies could be passed! Regardless, it's pretty obvious that Obama wasn't saying the government would literally go bankrupt paying colleges, which is what you were trying to say. This goes back to my point of needing to read your own links better.

You're just being disingenous. In that link he's obviously talking about the Education Department despite it being small in the grand scheme of things. Of course it's not a literal bankrupt but a caution that it means spending is getting to be too much for government to pay.
 
Nov 8, 2012
20,828
4,777
146
I think the only saving grace in this for GOP is that the fuse is delayed enough that the real pain won't set in until post 2018. This should be a career ending vote for most of these GOP senators up for relelection. Will see how well the democrats can leverage that position next fall.

...said for the last 4 elections straight.... watch them get re-elected... And understand, I don't want them re-elected either. I'm just saying, you will be surprised how ridiculously stupid voters are (on both sides)... enough to stab themselves to death.
 

zinfamous

No Lifer
Jul 12, 2006
110,821
29,576
146
Here's an interesting view on a possible major unintended consequence of the tax bill, specifically the SALT issue: drug legalization

https://www.cnbc.com/2017/12/01/how...-states-to-legalize-marijuana-commentary.html

On top of this, wealthy dems will move to cheapo red states and make the GOP forever unable to win another election. Texas is already trending purple anyway, so the turnover may happen quicker than anticipated. It's quite literally game over for the GOP if they can no longer depend on Texas.
 

UNCjigga

Lifer
Dec 12, 2000
24,843
9,092
136
Looks like lawmakers will get a final look at the bill this afternoon, just a few minutes before a final vote will be called. They will be voting for something that few have ever seen. For all the flak that righties threw at Obamacare over "the process", this is 10x worse.

I can't even begin to imagine the amount of pork that was thrown into the Senate bill in order to get votes (i.e. "fetus rights")--I guess we'll know soon.
 

thilanliyan

Lifer
Jun 21, 2005
11,912
2,130
126
I think the only saving grace in this for GOP is that the fuse is delayed enough that the real pain won't set in until post 2018. This should be a career ending vote for most of these GOP senators up for relelection. Will see how well the democrats can leverage that position next fall.
Wouldn't that only be true if in fact the pain sets in BEFORE 2018?
 
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