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Thread: Republican Tax Reform - The Answer to ... What?

  1. #21
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by bajisima View Post
    Right but he had GDP up around 4%. For many republicans that's a goal that's never been reached since. Its a big deal in GOP areas. Its how success is measured.
    He happened to take office at the end of an extended economic downturn, exacerbated by historically high rates of inflation. Jimmy Carter deserves just as much credit as Reagan for the economic recovery of the 1980s.

  2. #22
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by NightSwimmer View Post
    He happened to take office at the end of an extended economic downturn, exacerbated by historically high rates of inflation. Jimmy Carter deserves just as much credit as Reagan for the economic recovery of the 1980s.
    While that may be true, we all know most people evaluate a presidents economic success or failure from the exact dates they are in office. Reality is too complex for most voters.
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  3. #23
    Council Member Djinn's Avatar
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    Quote Originally Posted by bajisima View Post
    Right but he had GDP up around 4%. For many republicans that's a goal that's never been reached since. Its a big deal in GOP areas. Its how success is measured.
    A healthy GDP is between 2% and 3%. The current GDP is about 3%. If the GDP exceeds 3% of any length of time, you're looking at an asset bubble. Look at the quarterly GDPs that preceded the tech crash of 2000, and the housing crash of 2008.

    I don't think anyone here wants to through those again.

    Good info here.
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  4. #24
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by bajisima View Post
    While that may be true, we all know most people evaluate a presidents economic success or failure from the exact dates they are in office. Reality is too complex for most voters.
    In that case, Barack Obama has put all past presidents to shame, including FDR. Then again, he probably does deserve some accolades for bringing us out of the worst financial crises since the Great Depression.

  5. #25
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Djinn View Post
    A healthy GDP is between 2% and 3%. The current GDP is about 3%. If the GDP exceeds 3% of any length of time, you're looking at an asset bubble. Look at the quarterly GDPs that preceded the tech crash of 2000, and the housing crash of 2008.

    I don't think anyone here wants to through those again.

    Good info here.
    True, but he keeps saying how he wants it to be over 6 or even higher.

    "Donald Trump released his tax reform plan today, and he's quite confident that it will boost economic performance. He even went so far as to say that the plan might result in 6 percent economic growth.."

    https://www.forbes.com/sites/ryanell.../#2e59134a6953

  6. #26
    Council Member Djinn's Avatar
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    Quote Originally Posted by bajisima View Post
    True, but he keeps saying how he wants it to be over 6 or even higher.

    "Donald Trump released his tax reform plan today, and he's quite confident that it will boost economic performance. He even went so far as to say that the plan might result in 6 percent economic growth.."

    https://www.forbes.com/sites/ryanell.../#2e59134a6953
    Six percent, and I'm pulling everything out of the stock market. And so will everyone else.

  7. #27
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Djinn View Post
    A healthy GDP is between 2% and 3%. The current GDP is about 3%. If the GDP exceeds 3% of any length of time, you're looking at an asset bubble. Look at the quarterly GDPs that preceded the tech crash of 2000, and the housing crash of 2008.

    I don't think anyone here wants to through those again.

    Good info here.
    Actually they do. A lot of wealthy CEOs and businessmen like to see an unusually high GDP because its a signal to get out of the market. Then it crashes and they come back and buy in at low prices.
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  8. #28
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Djinn View Post
    Six percent, and I'm pulling everything out of the stock market. And so will everyone else.
    That's the point for millionaires and billionaires..

  9. #29
    Council Member Djinn's Avatar
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    Ok, so were back to favoring the wealthiest. Again, we all know that's the net effect. But if Trump allowed a reporter to pose my question to a coherent version of himself, how would he respond?

  10. #30
    Veteran Member bajisima's Avatar
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    Quote Originally Posted by Djinn View Post
    Ok, so were back to favoring the wealthiest. Again, we all know that's the net effect. But if Trump allowed a reporter to pose my question to a coherent version of himself, how would he respond?
    Suspect he would say it gives an average of $1100 back to 70% of the American people. That's quite a bit more than the measly 300 bucks we got from GW.

    "More than 97 million (80 percent) will receive a tax cut. Indeed, at the far end of the chart, you will see that every quintile on average receives a tax cut — not a tax increase."

    https://www.washingtonpost.com/news/...=.5cd355ae576c
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