itsSIRtou -> RE: Do you Support President Trump's Big Tax Cuts and Reforms (10/4/2017 12:59:54 PM)
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ORIGINAL: DesideriScuri quote:
ORIGINAL: itsSIRtou to the OP.... every "tax cut" since reagan has only accomplished really one thing..... make the already wealthy more so. the economy doesn't improve because the money at the top doesn't go anywhere, the wealthy just invest in themselves, bank it, or buy foreign goods like BMW's and there's no incentive whatsoever to do otherwise. Ether way the wealthy don't use the tax cut to improve the American GDP. https://en.wikipedia.org/wiki/BMW_US_Manufacturing_Company quote:
The BMW US Manufacturing Company, also known as BMW Spartanburg, is a vehicle assembly facility for BMW Group and is located in Spartanburg, South Carolina;[3] it is BMW's only assembly plant in the United States. The plant is currently BMW's sole global production site for X3, X4, X5, and X6 crossover SUVs whose biggest market is the U.S., while other BMW models sold in the U.S. market are imported. ... BMW announced in 1992 that it would build a 1,150-acre (4.7 km2) manufacturing facility in Spartanburg County, South Carolina, United States to strengthen its international production system. The plant opened in 1994.[4] The $2.2 billion plant, which employs 8,800, is one of the company’s global five-plant production network. The automaker announced in 2014 an additional $1 billion investment in the facility that will make Spartanburg, South Carolina BMW's largest US factory, with an annual capacity of 450,000 units[5] when including the X7.[6] There were 364,000 vehicles produced in 2014, of which 70% were exported to 140 countries.[4] The plant is second only to the plant in Dingolfing, Germany in BMW vehicle production. BMW's second largest production plan is in the US. How much you want to bet they hire American workers? How much you want to bet lots of money is spent in the US because that plant is there? Or, is it simply about a nameplate? Don't forget that Chrysler/Jeep/Dodge is own by Fiat, a non-American car company. So, according to your illogic, anyone purchasing one of those cars isn't improving the American GDP, either. Oh, and it was owned by Daimler prior to that. And plenty of vehicles are made in Canadia [sic], which, isn't in the good ol' US of A, either. The Dodge salesman tried to hook my Dad into buying a Dodge Charger instead of a Toyota (which my Dad was only using as leverage; he was reliving his youth in buying the Charger) by using the "foreign car" strategy. Not surprisingly enough, my Mom's Toyota and the Toyota he was using as leverage were actually made in Ohio, while the Charger was made in Canada, making the Charger, the "foreign" car, not the Toyota's. So much for not improving the American GDP. quote:
the money at the middle and lower classes gets spent to pay down what they already owe, so there really no way for them to pump up the economy with new spending. even if "john q. middleclass" goes out and buys a new car with his $1000.00 tax cut, he's just plunged himself into $20K+ more debt. Again the economy doesn't go anywhere. when rump first rolled out this "tax cut plan" during the campaign, it had the scrutiny of every economist on the planet..... they all pointed out his plan exponentially blew up the national debt. so far Ive seen nothing that sway's that conclusion away from the current "plan". If in no place there a stipulation that any amount of tax cut the wealthy or big corporations gets has to be spent on job creation, the purchase of "made in America" goods (the parent company cannot be outside the USA) or invest in USA companies, (again, the parent company cannot be outside the USA) Then America will be right back where it was in 2008, only worse, and the table is already being set for it. All you're doing is bitching about how much one group is getting in cuts in comparison to how much another group is getting in cuts. Fucking waa. If a family is getting a tax cut, they'll have more of their own money to spend as they so choose. How is that NOT great?!? And, as far as people using tax cuts to spend down the debt they already owe goes, perhaps they shouldn't have overspent (and, I do admit, grudgingly, that i am fighting that very demon in my own life, so, I get it). ds,.... the ultimate profit for that vehicle no matter where its built, goes to the parent companies bottom line, wherever that companies headquartered. For example, Medtronic, a long time Minnesota company, in a strategic move, "inverted" & transferred its home offices to Ireland, where it now pays a third of the taxes it paid in the US. Guess what? That means its profits, AND GDP is now also claimed by Ireland. and it STILL gets to keep the $40M in US federal contracts it has acquired. Not to mention allsorts of other perks of a US company, Like the majority of the benefits of US citizenship. OH sure, Medtronic, hired more people, and those people pay taxes, buy things, etc.,. BUT.... that doesn't make up for the $3 BILLION in taxes EVERY YEAR that doesn't go into US coffers. and THAT $3B in taxes is what we all have to make up for. NOW,.....let Me make this clear...... I am all for a TRUE MIDDLE CLASS TAX CUT. - families and individuals. and poor people. NOT one thin dime of a tax cut to the wealthy, or the majority of big corporations, big business without strings attached, to Me, the wealthy and big corporations don't need another bundle of money to not create jobs with. which job creation is one of the bullshit selling points for the tax cuts in the first place. u like the wealthy so much? keep giving them ur wallet and see what u get back from them. keep giving the wealthy tax cuts with no strings attached and that's all ur doing. So far the only thing they given u or anybody so far from tax cuts is more space between u and them for total net worth....how stupid is that??? IF the reason for giving a tax cut is for job creation, then its not too damn much to demand & make them ACTUALLY create jobs with it.... Now, u and I have had some good debates,...but, How does that NOT make sense to u?? to be simplistic.... If I ask u for money for a particular reason and u give it to Me, (TWICE!!) but I instead I go buy or do something else with it altogether, why should u keep giving Me more money OR....not demand I spend it for the reason I told u? http://www.startribune.com/medtronic-now-based-in-ireland-still-reaps-u-s-benefits/392895471/ https://www.washingtonpost.com/news/wonk/wp/2017/10/03/the-trump-tax-cuts-would-be-the-most-insane-giveaway-to-the-rich-ever/?utm_term=.0c0ef115b521 http://www.reuters.com/article/us-usa-tax-fiscal/rich-would-benefit-most-from-trump-tax-cut-plan-policy-group-idUSKCN1C42C8 PS.....its nicknamed "VOODOO economics" for a darn good reason...
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