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New Prime Inc. vs Oliveira SCOTUS 17-340
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<blockquote data-quote="dmac1" data-source="post: 3761153" data-attributes="member: 60252"><p>You are aware that the total growth of 3% or so is directly attributable to tax 'cuts' that need to be repaid don't you?????? A 3% growth is about $600 billion per year, and the tax 'cut' added about $500 billion PER YEAR to the deficit. Before Trump we had slightly lower growth, but only about 1/2 the projected deficit. We were growing about $400 billion in GDP, but with deficits half of Trump's.</p><p></p><p>All the money added to the debt because of the so-called tax 'cuts' needs to be repaid with interest added, meaning that you really need to pay MORE in taxes than before. It was like taking a cash advance on your credit card. You end up paying WAAAAAAAY more than you borrowed. If anything, you didn't get a tax cut at all, maybe you can call it a tax deferral.</p><p></p><p>It is really simple math, not even equations are involved, just comparisons to see whether Trump or Obama had higher deficits, higher inflation, faster stock appreciation, a greater drop in unemployment, lower gas prices, lower mortgage interest rates, etc. Too bad so many Trump supporters can't even accept such simple math concepts as greater than or lesser than.</p><p></p><p>Monthly payments if you purchase the same home now as when Obama left office is about 25% more. Many people have been priced out due to climbing mtg interest rates. Inflation is at about 3% while wage growth is below 2%, even with a tax deferral. Corporations are doing okay because all their tax burden has been transferred to the debt which PEOPLE will need to pay, or we will be raising retirement age, increasing medicare deductibles, and cutting social security benefits by about $400, so republicans can say they didn't raise taxes. A $15 a WEEK tax deferral now is really worth the $400-$500 increased costs/decreased income per MONTH when you need to wait two extra years to collect???? I don't think so.</p></blockquote><p></p>
[QUOTE="dmac1, post: 3761153, member: 60252"] You are aware that the total growth of 3% or so is directly attributable to tax 'cuts' that need to be repaid don't you?????? A 3% growth is about $600 billion per year, and the tax 'cut' added about $500 billion PER YEAR to the deficit. Before Trump we had slightly lower growth, but only about 1/2 the projected deficit. We were growing about $400 billion in GDP, but with deficits half of Trump's. All the money added to the debt because of the so-called tax 'cuts' needs to be repaid with interest added, meaning that you really need to pay MORE in taxes than before. It was like taking a cash advance on your credit card. You end up paying WAAAAAAAY more than you borrowed. If anything, you didn't get a tax cut at all, maybe you can call it a tax deferral. It is really simple math, not even equations are involved, just comparisons to see whether Trump or Obama had higher deficits, higher inflation, faster stock appreciation, a greater drop in unemployment, lower gas prices, lower mortgage interest rates, etc. Too bad so many Trump supporters can't even accept such simple math concepts as greater than or lesser than. Monthly payments if you purchase the same home now as when Obama left office is about 25% more. Many people have been priced out due to climbing mtg interest rates. Inflation is at about 3% while wage growth is below 2%, even with a tax deferral. Corporations are doing okay because all their tax burden has been transferred to the debt which PEOPLE will need to pay, or we will be raising retirement age, increasing medicare deductibles, and cutting social security benefits by about $400, so republicans can say they didn't raise taxes. A $15 a WEEK tax deferral now is really worth the $400-$500 increased costs/decreased income per MONTH when you need to wait two extra years to collect???? I don't think so. [/QUOTE]
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