Essential Economics for Politicians

Trump bankrupted casinos and Trump has stated that what was important is that he personally made millions of dollars off those deals. Trump is looking at his presidency the same way.
 
Things are looking pretty bleak right now for U.S. trade policy. Congress could and should step in here, but that does not look likely at the moment. Retaliation by U.S. trading partners might get the administration’s intention, but as noted, the administration may see all the additional tariffs as a win. In the end, the costs of all this to the U.S. economy will become apparent. In the meantime, all Americans will pay a price for whatever it is the administration thinks it is doing.

https://fee.org/articles/got-tariff-fatigue/
 
Tariffs Will Wipe Out the Benefits of Tax Reform
Yes, the lowering of the corporate tax rate gave businesses a nice profit bump, but new tariffs will probably cost them more than they saved.

So, 25 percent duties assessed on $800 billion of trade, approximately half of which would be U.S. manufacturing inputs and U.S.-manufactured exports comes out to a combined $100 billion hit on the sector’s profits (25 percent of $400 billion). That eclipses the $97 billion gain from the corporate rate reduction.

While this is all bad news for the economy, I wonder whether the tax-reform advocates who held their noses and excused Trump’s trade transgressions because tax reform would make everything right will start to speak out. Paging Larry Kudlow, Steve Moore, and Art Laffer.

https://fee.org/articles/tariffs-will-wipe-out-the-benefits-of-tax-reform/
 
Booter said:
Tariffs Will Wipe Out the Benefits of Tax Reform
Yes, the lowering of the corporate tax rate gave businesses a nice profit bump, but new tariffs will probably cost them more than they saved.

So, 25 percent duties assessed on $800 billion of trade, approximately half of which would be U.S. manufacturing inputs and U.S.-manufactured exports comes out to a combined $100 billion hit on the sector’s profits (25 percent of $400 billion). That eclipses the $97 billion gain from the corporate rate reduction.

While this is all bad news for the economy, I wonder whether the tax-reform advocates who held their noses and excused Trump’s trade transgressions because tax reform would make everything right will start to speak out. Paging Larry Kudlow, Steve Moore, and Art Laffer.

https://fee.org/articles/tariffs-will-wipe-out-the-benefits-of-tax-reform/
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The current admin doesn't do anything for America or the majority of it's people . . . the rich get rich the poor get the shaft. Fascism on the rise.
 
Bill Clinton assumed that economic globalization was inevitable. He also believed in the classical theory of free trade: Lower tariffs would result in lower prices, greater exports, and a stronger economy. "it's so wonderful when an economic theory turns out to be right," his Treasury Secretary, Lawrence Summers, would later crow; "The economic benefits of the tariff reductions we negotiated during the Clinton administration represents the largest tax cut in the history of the world."

Source: The Natural, by Joe Klein, p. 79 , Feb 11, 2003
 
Booter said:
Bill Clinton assumed that economic globalization was inevitable. He also believed in the classical theory of free trade: Lower tariffs would result in lower prices, greater exports, and a stronger economy. "it's so wonderful when an economic theory turns out to be right," his Treasury Secretary, Lawrence Summers, would later crow; "The economic benefits of the tariff reductions we negotiated during the Clinton administration represents the largest tax cut in the history of the world."

Source: The Natural, by Joe Klein, p. 79 , Feb 11, 2003
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Yes, he also thought it was a good idea to screw an intern in the oval office and was impeached.
Are you hearing yourself?
 
Booter said:
You are still relying on ignorance to support your political position. Why?
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Actually Booty Butt....those are facts that will follow Bent Willy to the Gave.....

And speaking of Sick Fucks....while you always go off in a corner and slam
your head in vain.....maybe do some REAL Research and question why
Bent Willy's " Buddy " paid for barges of cement to fill in tunnels on his
" Sicko " Island and then burned it to the ground.....Hmmmmm...

You stupid Democrats project so much you could launch a Saturn 5 Rocket...
 
U.S. cruises toward record-breaking debt on Trump's watch

In drumming up support for their tax overhaul, congressional Republicans have said the new law would spur enough economic growth to offset a loss in revenue over the next decade. CBO predicts, however, that most of that economic revving will happen in the next several years, with the largest single-year increase occurring in 2022, with GDP growing by a full percentage point.
After that, GDP growth is expected to be modest, amounting to an average boost of 0.7 percent over a decade.

The effects of the Republican tax law on federal deficits are projected to diminish after 2026, when many of the costly individual tax breaks are set to expire. After that point, revenue is expected to rise again. And a decade out, the tax law would have almost no effect on the economy or the federal deficit, CBO predicts.

https://www.politico.com/story/2018/06/26/cbo-federal-deficit-break-records-651929
 
Booter said:
U.S. cruises toward record-breaking debt on Trump's watch

In drumming up support for their tax overhaul, congressional Republicans have said the new law would spur enough economic growth to offset a loss in revenue over the next decade. CBO predicts, however, that most of that economic revving will happen in the next several years, with the largest single-year increase occurring in 2022, with GDP growing by a full percentage point.
After that, GDP growth is expected to be modest, amounting to an average boost of 0.7 percent over a decade.

The effects of the Republican tax law on federal deficits are projected to diminish after 2026, when many of the costly individual tax breaks are set to expire. After that point, revenue is expected to rise again. And a decade out, the tax law would have almost no effect on the economy or the federal deficit, CBO predicts.

https://www.politico.com/story/2018/06/26/cbo-federal-deficit-break-records-651929
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Who's record is he breaking?
 
Sheriff Joe said:
Who's record is he breaking?
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SUCKER!!! Trump is breaking his own record everyday. Trump doesn't act like a real president or know how to be a real president but he really is the president. Republicans have all branches of government and our government is being run as poorly as ever in the history of our great nation and you are here every day cheering these morons on.

Good times shitstain, good times.
 
Booter said:
SUCKER!!! Trump is breaking his own record everyday. Trump doesn't act like a real president or know how to be a real president but he really is the president. Republicans have all branches of government and our government is being run as poorly as ever in the history of our great nation and you are here every day cheering these morons on.

Good times shitstain, good times.
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Its a great time to be an American.
 
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