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Trump's tax cut would be smaller than Obama's, analysis says

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posted on Jan, 27 2018 @ 02:14 PM
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a reply to: seagull

I fixed mine too.






posted on Jan, 27 2018 @ 02:26 PM
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posted on Jan, 27 2018 @ 02:34 PM
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Keep lapping up that sweet sweet Antifreeze!

originally posted by: Willtell


President Donald Trump wants his base to believe that his proposed tax cut is “the biggest ever in the history of this country,” and that his predecessor, President Obama, only raised taxes over his two terms in office. None of that is true. President Obama’s “American Taxpayer Relief Act,” signed in 2013, cemented a tax cut nearly two times larger than what Trump is proposing. Trump boasted about his tax cuts being the largest ever at least four times between May and October. Both White House Press Secretary Sarah Huckabee Sanders and Chief of Staff John Kelly have repeated the dishonest talking point. Trump's proposal would save Americans a maximum of $190 billion, according to a new analysis from the nonpartisan Committee for a Responsible Federal Budget. That sounds like a lot, but it's equivalent to about one percent of gross domestic product, the leading measure of our nation’s economic output. By that measure, Trump's cut would be the eighth largest since 1918. Obama's 2013 cut, at 1.8 percent of GDP, was the fourth largest over that period. It saved American taxpayers $321 billion per year.



I keep trying to tell the Trump cultists that his tax cut is no big thing and not unique.

Also, Obama’s stimulus package and tax cuts were bigger and better and helped bring the economy out of destruction.

Obama inherited a GOP economic disaster, Trump inherited an economy booming because of Obama's economics.

Also, Trump lies ( as usual) when he says his cut is the largest in history.

LINK



posted on Jan, 27 2018 @ 02:44 PM
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originally posted by: Sillyolme
a reply to: Willtell

Nice but this info will be treated like poison to this crowd. I don't even bother with defense anymore most of the time.


Poison is as poison does Silly. We just aren’t buying the BS anymore.



posted on Jan, 27 2018 @ 02:45 PM
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double post
edit on 27-1-2018 by whywhynot because: (no reason given)



posted on Jan, 27 2018 @ 02:51 PM
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originally posted by: whywhynot
a reply to: Willtell

You got a link to your quoted material?

By what measure do you say that Trump inherited a booming economy?


What measure do you want? By any measure that is being used to quantify how booming the economy has "suddenly" become in the last year, Trump was handed an economy that had been on a years-long rise after turning a corner from the Great Recession that Obama inherited.

Unemployment? Remember how up until Trump got elected, all we heard from the right-wing was how they were fudging the numbers? Now the same supposedly fudged numbers are being touted by the Trump administration.



In attempt to show how non-racist Trump is, bizarrely, we've been hearing about how low black unemployment is. From all the talk, you'd think Trump came in and reversed course on rising unemployment. But no, it's a continuing trend:



How about record high DOW IA and closing? Yeah, we were seeing those things under Obama:



Wikipedia - Closing milestones of the Dow Jones Industrial Average


5.2.54 2008–2012 (0 record closes)
5.2.55 2013 (52 record closes)
5.2.56 2014 (38 record closes)
5.2.57 2015 (6 record closes)
5.2.58 2016 (26 record closes)
5.2.59 2017 (71 record closes)
5.2.60 2018 (11 record closes)



Why do you call people Trump cultists? Are you trying to bait a response?


Because you're above doing that sort of thing?



Obama’s ? Not Michelle’s. Really? Are you certain?





posted on Jan, 27 2018 @ 02:58 PM
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originally posted by: eXia7
Obama is old news, what matters now is that the country is finally heading in the right direction.


See, this is purely a product of right-wing programming. Trump didn't bring about an abrupt change in course re the economy. You're looking at continuing trends that have been occurring for years and imagining that there was some change in direction that wasn't.


You can sit here and try and debate how Obama was better than Trump and blah blah blah, but by the time Trump leaves office, I can almost assure you that he will have fixed a lot of the problems we currently face.


It won't be hard for you to be convinced because you're primed to give him credit for fixing problems that weren't.


Sure the guy isn't perfect, but at least he seems to actually care about the people despite all of the fake news and baseless claims being thrown about.


You have to admit, that's a bit ironic coming from a person who is spewing baseless claims about the economy under Obama that were picked up from right-wing fake news.



posted on Jan, 27 2018 @ 03:02 PM
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Barack who?

Oh you mean the guy who is green with envy since he saw President Trump address world leaders, as they treated him like a rock star?



posted on Jan, 27 2018 @ 03:04 PM
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Big problem with CRFB

Leon Panetta is a co-chair !!!

Look OUT !!




posted on Jan, 27 2018 @ 03:06 PM
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a reply to: theantediluvian

Obama had it easy actually.

All major crashes make it easy to make the numbers look good afterwards.




posted on Jan, 27 2018 @ 03:24 PM
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Obama was a failure.

But everyone fails from time to time.

Like my dating app for Hindus, "Vishnu Were Here".



posted on Jan, 27 2018 @ 03:51 PM
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Um nop. 21% < 35%



posted on Jan, 27 2018 @ 03:53 PM
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Bush economy was bad. That doesn't mean economy is always bad under GOP. Economy was bad under Jimmy Carter. Jimmy Carter is Democrat.



posted on Jan, 27 2018 @ 04:29 PM
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originally posted by: Willtell


President Donald Trump wants his base to believe that his proposed tax cut is “the biggest ever in the history of this country,” and that his predecessor, President Obama, only raised taxes over his two terms in office. None of that is true. President Obama’s “American Taxpayer Relief Act,” signed in 2013, cemented a tax cut nearly two times larger than what Trump is proposing. Trump boasted about his tax cuts being the largest ever at least four times between May and October. Both White House Press Secretary Sarah Huckabee Sanders and Chief of Staff John Kelly have repeated the dishonest talking point. Trump's proposal would save Americans a maximum of $190 billion, according to a new analysis from the nonpartisan Committee for a Responsible Federal Budget. That sounds like a lot, but it's equivalent to about one percent of gross domestic product, the leading measure of our nation’s economic output. By that measure, Trump's cut would be the eighth largest since 1918. Obama's 2013 cut, at 1.8 percent of GDP, was the fourth largest over that period. It saved American taxpayers $321 billion per year.



I keep trying to tell the Trump cultists that his tax cut is no big thing and not unique.

Also, Obama’s stimulus package and tax cuts were bigger and better and helped bring the economy out of destruction.

Obama inherited a GOP economic disaster, Trump inherited an economy booming because of Obama's economics.

Also, Trump lies ( as usual) when he says his cut is the largest in history.

LINK


All of this is false.



(people building fiber optic for which there was no need? Hmmmmm a sign of things to come I'd say)




And if Obama's economics were so strong, why did he only ever see growth below 3%?
edit on 27-1-2018 by Wardaddy454 because: (no reason given)



posted on Jan, 27 2018 @ 04:38 PM
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Lol, the boom is down to Obama... ok , fella.



posted on Jan, 27 2018 @ 05:10 PM
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Obama bailed out foreign banks with the American taxpayers money. He was and still is a useless POS. a reply to: Willtell



posted on Jan, 27 2018 @ 05:11 PM
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originally posted by: UKTruth
Lol, the boom is down to Obama... ok , fella.



At least they are admitting a boom.




posted on Jan, 27 2018 @ 05:21 PM
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I will tell you this...I fall into the 3rd tax bracket, 82.5k to 157k and I will be getting an extra 2 k in my checks. Now, if I invest that in my 401 based on current market trends not only am I saving more money in taxes I am making more on the awesome market...how can people not see this # as a win/win?



posted on Jan, 27 2018 @ 06:26 PM
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Obama had his shot, nothing happened. He needs to pack it in. The AHA was a flop, and I voted for the guy first term. I think his crowning glory was cash for clunkers. I learned a lot from President Obama, I will never vote Democratic again, as long as I live. He was a major screw up. I only use "screw up" because of the rules no ATS. I hope he fades away quickly. The guy is a detriment the his party, as well as the human race.



posted on Jan, 27 2018 @ 11:41 PM
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Well, Obama did do some tax cuts, but remember, Trump actually cut it farther down for most people after Obama did some cuts. Obama actually raised out of pocket for most people, Obamacare added a lot to health insurance costs provided by employers, canceling out raises they would have gotten. Some of the money to pay for Obamacare came from employer premiums. This raised deductibles quite a bit.

I can't agree that Obama saved anyone any money, he actually cost the middle class a lot of money.







 
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