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Discussion: Trump Lied: "Only .8% of Tax Cuts To Bottom 20%"
Member Since: 5/27/2016
Posts: 2,555
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Trump Lied: "Only .8% of Tax Cuts To Bottom 20%"
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Donald J. Trump is positioned to achieve the most radical reshaping of economic policy since Ronald Reagan. Even under Reagan, Republicans never controlled both houses of Congress.
Since Mr. Trump has yet to provide many specifics, I can’t thoroughly assess the overall impact of his plan. But at the least, if he follows through on his ideas, we could face higher prices on imported goods, rising interest rates, substantial inflation and a further shift of wealth to the upper classes.
For starters, Mr. Trump has promised an immediate attack on trade deals, at least with countries he views as manipulators. Presidents have significant authority to act unilaterally in this area, and Mr. Trump has insisted he would put 35 percent tariffs on imports from Mexico and 45 percent on those from China.
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Mr. Trump’s tariffs would raise the prices of imported goods sharply, cutting the purchasing power of every American. Lower-income Americans — including Mr. Trump’s core supporters — would be hurt the most because they disproportionately buy less expensive imported items. For China, and particularly Mexico, the economic costs would be significant, which is why at one point on Wednesday the Mexican peso had plunged by more than 13 percent.
While some manufacturing jobs might come back as a result of the tariffs, a greater number of domestic jobs would most likely be lost because Americans would have less spending power. A recent study by the nonpartisan Peterson Institute for International Economics estimated that, rather than bringing jobs back to the United States, Mr. Trump’s tariffs could result in a trade war that would cost our economy five million jobs and possibly lead to a recession.
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Mr. Trump has promised to keep Medicare and Social Security benefits unchanged, a commitment at odds with Speaker Paul D. Ryan’s own economic proposals. As a fiscal conservative, Mr. Ryan is unlikely to accept large tax cuts unaccompanied by major spending reductions. That could lead to the evisceration of many of the discretionary federal programs — think education or research and development — critical to putting our economy on a stronger footing.
To be sure, a tax cut on its own would give Americans more cash to spend. But according to the Tax Policy Center, by 2025, 51 percent of Mr. Trump’s reductions would go to the top 1 percent, who both least need it and would be least likely to spend it.
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If Mr. Trump sticks to his pledge, it will be open season on regulations, as businesses go after their most disliked provisions and agencies. Industrial companies will take aim at the Environmental Protection Agency. Financial institutions, including the big banks, will push to repeal Dodd-Frank. That’s just for starters.
Both Mr. Trump and Mr. Ryan are united in opposition to the Affordable Care Act, potentially ending the free or subsidized coverage that 20 million Americans are now receiving. Those Americans would be facing higher costs or loss of coverage.
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mmigrants, including undocumented workers, play an important role in our economy, doing jobs that many native-born Americans won’t and paying taxes. The conservative American Action Forum calculated that his deportation plan would cost $400 billion to $600 billion and, because there are not enough citizens and legal residents to fill the demand, the plan would shrink the labor force and reduce gross domestic product by $1.6 trillion.
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Member Since: 12/4/2009
Posts: 6,471
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A liar, a scammer.
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Member Since: 8/12/2007
Posts: 15,237
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Oh you don't say. 
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Member Since: 1/1/2014
Posts: 14,321
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How could we have ever known? How?
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Member Since: 10/16/2005
Posts: 16,872
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That's fine. I'm here for rising costs, no health insurance for lots of people, unemployment, and more. People wanted Trump, so let them enjoy his policies.
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Member Since: 1/1/2014
Posts: 3,237
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Originally posted by vuelve88
That's fine. I'm here for rising costs, no health insurance for lots of people, unemployment, and more. People wanted Trump, so let them enjoy his policies.
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!!!!
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Member Since: 10/22/2007
Posts: 1,576
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Member Since: 10/22/2007
Posts: 1,576
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lmfao we cant pay $1 for every item at dollar stores anymore. This is just a beginning, you stupid racist morons.
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Member Since: 5/27/2016
Posts: 8,967
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i was told he was going to stick it to establishment like Hillary and Obama and get white working class folks there job back 
was i lied to??
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Member Since: 8/19/2013
Posts: 28,773
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Quote:
Originally posted by vuelve88
That's fine. I'm here for rising costs, no health insurance for lots of people, unemployment, and more. People wanted Trump, so let them enjoy his policies.
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Member Since: 4/20/2012
Posts: 3,792
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You get what you deserve, right? Maybe he'll build a wall to protect the coasts from middle America and most of the south as well.
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Member Since: 3/15/2013
Posts: 10,237
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Good job trump supporters
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ATRL Contributor
Member Since: 1/3/2014
Posts: 11,976
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Quote:
Originally posted by vuelve88
That's fine. I'm here for rising costs, no health insurance for lots of people, unemployment, and more. People wanted Trump, so let them enjoy his policies.
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America has made its bed. I want us to lie in it. And when there's another economic crisis while Trump's businesses are mysteriously unaffected, I'll be right in the polls in the year 2020 along with the rest of the Demos.
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Member Since: 8/28/2009
Posts: 7,345
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Good. I need all his supporters to suffer. Sure we will be suffering too but it will be sweeter to watch them realize their mistake.
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Member Since: 8/31/2013
Posts: 21,462
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But he cares about working class people, no?
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Member Since: 7/21/2012
Posts: 28,099
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I'm ready.  This is what you 60M people get for not listening to the 300 economists who told us his plans were disastrous.
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Member Since: 5/27/2016
Posts: 2,555
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Nnnn y'all should be concerned.
Yes, it's fine to want poor people who VOTED for this to learn their lesson, but poor Democrats are also going to suffer. Relishing in that is a bit of a neoliberal gaffe. At least donate to some organizations meant to help the most disenfranchised in Blue states knowing what is going to hit our fellow Democrats.
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Member Since: 7/21/2012
Posts: 28,099
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Quote:
Originally posted by Communion
Nnnn y'all should be concerned.
Yes, it's fine to want poor people who VOTED for this to learn their lesson, but poor Democrats are also going to suffer. Relishing in that is a bit of a neoliberal gaffe. At least donate to some organizations meant to help the most disenfranchised in Blue states knowing what is going to hit our fellow Democrats.
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I am concerned. But when you have people who study this **** for a living tell you he's bad and you say "Well nope. It's not his tax plan that's the problem. It's the Mexicans" then you shall reap what you sow.
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ATRL Contributor
Member Since: 1/3/2014
Posts: 11,976
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Quote:
Originally posted by Communion
Nnnn y'all should be concerned.
Yes, it's fine to want poor people who VOTED for this to learn their lesson, but poor Democrats are also going to suffer. Relishing in that is a bit of a neoliberal gaffe. At least donate to some organizations meant to help the most disenfranchised in Blue states knowing what is going to hit our fellow Democrats.
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This is a bit off-topic, but do you think that now that Trump is president, he is no longer immune to media attacks?
Rather than focus on his character (which will probably never work), they should focus on him not doing everything he promised. Like they should take soundbytes of him when he promised stuff, then show the reality that he has done none of it. I think it'll make him seem like a con.
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Member Since: 2/5/2014
Posts: 3,371
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The tip of the turd iceberg is rising.
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