THE TRUMP 2024 THREAD

vantexan

Well-Known Member
yea i think the budget is a formality . the no tax on tips, overtime and SS along with locking in the first round of trump tax cuts will throw a little gas on the economy.

the next round of recission cuts after the budget is finalized will tell the real story as to whether Trump and congress is serious about cutting spending. both parties in congress created this spending nightmare because they benefit from that spending politically. We will see whose serious about balancing the books.
I heard that because they're using the reconciliation process to get the bill passed in the Senate they couldn't include Social Security tax cuts. Instead those 65 and older will get an extra $4000 on their standard deduction. It'll save me a few extra hundred dollars the year after next.
 

newfie

Well-Known Member
I heard that because they're using the reconciliation process to get the bill passed in the Senate they couldn't include Social Security tax cuts. Instead those 65 and older will get an extra $4000 on their standard deduction. It'll save me a few extra hundred dollars the year after next.
i think the ceiling is 75000/1500000 so that should be a good deal for most of us. i live in a state that does not tax SS so the fed is all i have to worry about.
 

vantexan

Well-Known Member
excuse me they were bankrupt, they followed the troikas orders of cutting govt programs, and they became more bankrupt
They put themselves in this position. No one else. The austerity measures posed on them was to pay back what they owe. Bankruptcy didn't release them from that obligation. Greece's default nearly caused a worldwide banking collapse. In order for them to get back to some semblance of normalcy they have to go through some severe economic times. It's a clear warning to a number of countries that they have to be fiscally responsible.
 

vantexan

Well-Known Member
i think the ceiling is 75000/1500000 so that should be a good deal for most of us. i live in a state that does not tax SS so the fed is all i have to worry about.
Pretty certain they didn't put no tax on Social Security in the House bill. Gave a $4000 increase in the standard deduction instead.
 

rickyb

Well-Known Member
They put themselves in this position. No one else. The austerity measures posed on them was to pay back what they owe. Bankruptcy didn't release them from that obligation. Greece's default nearly caused a worldwide banking collapse. In order for them to get back to some semblance of normalcy they have to go through some severe economic times. It's a clear warning to a number of countries that they have to be fiscally responsible.
no american banks went bankrupt and then european banks went bankrupt and so the money was given to greece to bail out german and french banks for the 3rd time or whatever.

anyways the greeks followed the orders of cutting govt programs after they went bankrupt, and they are more indebted now than ever. so the idea of balancing budgets doesnt work because it shrinks economic incomes in the private sector as i recall.
 

vantexan

Well-Known Member
no american bank went bankrupt and then european banks went bankrupt and so the money was given to greece to bail out german and french banks for the 3rd time or whatever.
That debt was spread out through banks around the world. You don't wait until banks go bankrupt to try and stop a banking collapse. You go on and on about hard economic times but if the banks collapse you'll find out what hard is.
 

rickyb

Well-Known Member
That debt was spread out through banks around the world. You don't wait until banks go bankrupt to try and stop a banking collapse. You go on and on about hard economic times but if the banks collapse you'll find out what hard is.
you can nationalize banks and send executives to jail, and then privatize again when the fraud is cleaned up.

yes i think the european banks were more leveraged than the american ones.
 
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