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Thread: Higher Gas Prices Vs The Tax Cuts

  1. #11
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    Quote Originally Posted by BigLeRoy View Post
    Interesting analysis on the effects of higher gasoline prices on the expected economic boost from Trump's tax cuts:

    Higher gas prices could spoil Trump's tax cuts

    Well, poor Joe Sixpack didn't get much of a tax cut, anyhow. Most of that went to America's billionaires.

    Maybe they'll be building some brand-spanking new yacht factories, creating good new low-paying jobs for the rest of us!
    I think what Trump and the Republicans hope is that Joe Sixpack never thinks to contrast the tiny increase in his take-home pay to the large increase in his expenses.

    It's not gas prices that trouble me the most, in this regard. It's the various back-door flat taxes the Republicans are talking about. For example, consider the idea of paying for desperately needed infrastructure investment by way of "public-private partnerships." That would take the form of things like having roads fixed on a private company's dime, with the private company then allowed to recoup its investment (plus a hefty profit) with tolls. This has two issues:

    (1) It'll end up costing considerably more in the long term (private companies pay much higher rates on their borrowing than the government does, and those higher costs will need to be recovered).

    (2) For most Americans, this two-step will be a net tax hike. If Joe Sixpack gets a $500 tax cut in exchange for paying an extra $750 in tolls and use fees, he's much worse off, whereas if Montgomery Moneybags gets a $1 million tax cut in exchange for paying the same extra $750 in tolls and use fees, it's a giant windfall for him.

    So, the question is whether most Americans will be smart enough to recognize what the Republicans did to them. Sadly, when a sentence starts with "will most Americans be smart enough," the answer is generally no.

  2. #12
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    Quote Originally Posted by NightSwimmer View Post
    Meh. That only applies to the working class useful idiots. The One Percenters will be fine, as always.
    It's effectively a covert shift of a progressive tax for a flat tax. The impact of higher gas prices will be felt by everyone -- but roughly equally per capita. The wealthy would gladly take on an increase in relatively flatly distributed costs in exchange for a decrease in income taxes, because the income taxes matter so much more to them. If you have a per capita $1000 expense increase and an average $1000 tax cut, that's a net neutral in the big picture, but at the individual level it will range from being a grand screwing (for those who only got a couple hundred bucks in tax cuts), to being a colossal windfall (for those who got millions of dollars in tax cuts).

  3. #13
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Arkady View Post
    I think what Trump and the Republicans hope is that Joe Sixpack never thinks to contrast the tiny increase in his take-home pay to the large increase in his expenses.

    It's not gas prices that trouble me the most, in this regard. It's the various back-door flat taxes the Republicans are talking about. For example, consider the idea of paying for desperately needed infrastructure investment by way of "public-private partnerships." That would take the form of things like having roads fixed on a private company's dime, with the private company then allowed to recoup its investment (plus a hefty profit) with tolls. This has two issues:

    (1) It'll end up costing considerably more in the long term (private companies pay much higher rates on their borrowing than the government does, and those higher costs will need to be recovered).

    (2) For most Americans, this two-step will be a net tax hike. If Joe Sixpack gets a $500 tax cut in exchange for paying an extra $750 in tolls and use fees, he's much worse off, whereas if Montgomery Moneybags gets a $1 million tax cut in exchange for paying the same extra $750 in tolls and use fees, it's a giant windfall for him.

    So, the question is whether most Americans will be smart enough to recognize what the Republicans did to them. Sadly, when a sentence starts with "will most Americans be smart enough," the answer is generally no.
    Yes, and most Americans are going to get HAMMERED with huge increases in their health insurance premiums, now that the individual mandate is gone. I spent several pages in another thread trying to explain that to some dimwits here. Wasted time.
    Thanks from labrea, Blueneck and NightSwimmer

  4. #14
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    Quote Originally Posted by Arkady View Post
    I think what Trump and the Republicans hope is that Joe Sixpack never thinks to contrast the tiny increase in his take-home pay to the large increase in his expenses.

    It's not gas prices that trouble me the most, in this regard. It's the various back-door flat taxes the Republicans are talking about. For example, consider the idea of paying for desperately needed infrastructure investment by way of "public-private partnerships." That would take the form of things like having roads fixed on a private company's dime, with the private company then allowed to recoup its investment (plus a hefty profit) with tolls. This has two issues:

    (1) It'll end up costing considerably more in the long term (private companies pay much higher rates on their borrowing than the government does, and those higher costs will need to be recovered).

    (2) For most Americans, this two-step will be a net tax hike. If Joe Sixpack gets a $500 tax cut in exchange for paying an extra $750 in tolls and use fees, he's much worse off, whereas if Montgomery Moneybags gets a $1 million tax cut in exchange for paying the same extra $750 in tolls and use fees, it's a giant windfall for him.

    So, the question is whether most Americans will be smart enough to recognize what the Republicans did to them. Sadly, when a sentence starts with "will most Americans be smart enough," the answer is generally no.
    Well, I'm sure if they continue to rise, Trump will answer any questions about it by blaming the EPA and going back to the "drill, baby, drill" mantra.

    Apparently spilling a lot of oil causes the price to go down.
    Thanks from BigLeRoy

  5. #15
    The Republican Agenda HadEnough2's Avatar
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    Quote Originally Posted by NightSwimmer View Post
    Meh. That only applies to the working class useful idiots. The One Percenters will be fine, as always.
    ..of course.

  6. #16
    Veteran Member TNVolunteer73's Avatar
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    hey dumb butts Gas Prices always increase when the Gas refining changes from WINTER BLEND to SUMMER BLEND..


    Since the trump has pulled out of the deal Gas Prices nation wide has only increased 2 cents.

  7. #17
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Blueneck View Post
    Well, I'm sure if they continue to rise, Trump will answer any questions about it by blaming the EPA and going back to the "drill, baby, drill" mantra.

    Apparently spilling a lot of oil causes the price to go down.
    "Drill, Baby, Drill"??

    I thought that was the mantra the Republicans were chanting when they all went to that Lesbian Bondage Strip Club some years back..........

    The 'Family Values Party', Hah!!

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