Liberty News Forum
Political News Forum - Let your opinions be heard on current news and politics. Not for wimps!
Political Opinion Page - Recent Posts - LNF Forums LNF in the Age of Empowerment! Algorithm free!
Christian Forum - Religion Forum - Entertainment - Sports Forum
Military - A1 News Page - Computers Tech - Financial News - Bunker - Presidential Tracking Poll
The House - Off the Wall News - Page 2 - Rasmussen Reports Polls - Chat Room
Liberty News ForumLNF Forums HerePolitical Opinion Page - The Hot Seat › TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Page Index Toggle Pages: 1 [2]  Send TopicPrint
Hot Topic (More than 10 Replies) TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY (Read 394 times)
Paul Hadrian and his Stones
Hardhat
LNF Bunker
*****
Online

Erik stole my lunch money

Posts: 141,276
Location: Knepper On The Green
Joined: Oct 1st, 2005
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #10 - Apr 14th, 2018 at 2:47am
Print Post  
Jasmine wrote on Apr 14th, 2018 at 2:43am:
Again, this is irrelevant. The tax cut was simply the right thing to do. Whatever a company decides to to with the extra money is up to them. It’s *THEIR* money to begin with. The more we - individuals and businesses - can keep our own earnings, the better.


There are a lot of people that believe most of the money people earn should go through the government because only they know how to spend it.
  

Back to top
 
IP Logged
 
Jasmine
LNF Speaker
LNF Bunker
Conservative Caucus
*****
Online

God Bless America!

Posts: 36,405
Location: Hawaii
Joined: Jul 28th, 2008
Gender: Female
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #11 - Apr 14th, 2018 at 2:52am
Print Post  
Paul Hadrian and his Stones wrote on Apr 14th, 2018 at 2:47am:
There are a lot of people that believe most of the money people earn should go through the government because only they know how to spend it.

True. And those people are full of crap.
  


President Trump turned you into a snowflake? Woman up!
Back to top
 
IP Logged
 
Luther
LNF Speaker
*****
Offline

I Love Liberty News Forum!

Posts: 11,558
Joined: Dec 20th, 2016
Gender: Male
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #12 - Apr 14th, 2018 at 6:05am
Print Post  
Jasmine wrote on Apr 12th, 2018 at 8:22pm:
Whereve it goes, that is irrelevant. The tax cut was a good thing because it's the right thing to do. I know my paycheck is bigger.



Obviously, you're oblivious to we have just seen this rodeo before Wink Roll Eyes
  

All throughout our American history, world history, "ordinary people can do extraordinary things"


un·known quan·ti·ty
noun
a person or thing whose nature, value, or significance cannot be determined or is not yet known.
Back to top
 
IP Logged
 
Luther
LNF Speaker
*****
Offline

I Love Liberty News Forum!

Posts: 11,558
Joined: Dec 20th, 2016
Gender: Male
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #13 - Apr 14th, 2018 at 8:18am
Print Post  
Queshank wrote on Apr 12th, 2018 at 10:20pm:
So Trump's right and our country is being taken over by foreigners?  They really do own everything?

That's what I heard.  What do you suppose Trump's supporters heard?

The Democrats better get on this and trumpet it far and wide. 

Queshank


Quote:
So Trump's right and our country is being taken over by foreigners?


Boy, is Trump ever right! Wink Grin

Keep the Trump faith Grin


http://abcnews.go.com/US/trump-administration-allowing-15000-foreign-worker-visa...
  

All throughout our American history, world history, "ordinary people can do extraordinary things"


un·known quan·ti·ty
noun
a person or thing whose nature, value, or significance cannot be determined or is not yet known.
Back to top
 
IP Logged
 
wyattstorch2004
LNF Speaker
*****
Offline

GO CUBS

Posts: 13,826
Joined: May 11th, 2004
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #14 - Apr 14th, 2018 at 1:15pm
Print Post  
Ulysses wrote on Apr 14th, 2018 at 2:29am:
More from the article linked in the OP:

Nearly one-third of the U.S. stock market is owned by foreign investors, which means they’re benefiting from the $238 billion increase in stock buyback authorizations since the tax law passed. An analysis of Fortune 500 companies found that corporations have spent 37 times more on stock buybacks than on American workers’ bonuses and wages. “Republicans had fair warning that a huge chunk of this economic boost would flow to foreigners,” said Van Hollen. “The bottom line is that foreigners own a large chunk of U.S. corporations and will get a big windfall.”

At the same time, U.S. deficits are projected to balloon because of the decrease in revenue being collected under the tax cuts. The CBO projects that federal spending will exceed revenues by $804 billion in fiscal year 2018, up from $665 billion in 2017. The national debt is now on track to be 100 percent of GDP by 2028. That means the U.S. will have to borrow money to make up for its shortfalls, and much of that money will come from abroad. The small gains to GDP will be offset by increased interest payments abroad.

“That’s the effect of the tax law, it provides some boost to GDP but that boost is financed by a lot of borrowing,” said Chad Stone, chief economist at the left-leaning Center on Budget and Policy Priorities. “Each year’s borrowing produces more income for foreigners and by the time you get to 2028 there’s a fair amount of income for foreigners being generated.”

Republicans have “clearly abandoned any claims of fiscal responsibility,” said Van Hollen. “You’re borrowing close to $2 trillion from our kids and grandkids and then you’re giving it to corporations and others and at the end of the day 80 percent of the benefits of additional economic activity are going to foreigners.”


More xenophobia.

Is foreign investment in the US a bad thing?

Do you plan on responding to my post that directly quoted the CBO report?
  
Back to top
 
IP Logged
 
Ulysses
LNF House Leader
LNF Bunker
****
Offline

REDACTED

Posts: 9,770
Location: The Lodestar
Joined: Feb 19th, 2018
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #15 - Apr 14th, 2018 at 4:54pm
Print Post  
wyattstorch2004 wrote on Apr 14th, 2018 at 1:15pm:
More xenophobia.

Is foreign investment in the US a bad thing?

Do you plan on responding to my post that directly quoted the CBO report?


No, it's not xenophobia. It's proof the GOP/Trump have hoodwinked their base into thinking these tax cuts would go to them. Hollens calculates that 80% of the tax cuts will go to foreign investors (think, China/Saudi Arabia).

Furthermore, if  you had bothered to read the linked article, you'd see that CBO deputy director Keith Hall agreed with Hollens, telling him, "Your calculation's right..."

It is true that the CBO didn't bother to make the same calculations in their report, but the figures are all there to plug into Hollens' formula. Why the CBO dropped that ball, could be due to incompetence or partisan lack of candor.

Or both.
  

When fascism comes to America, it will be wrapped in the flag, carrying a cross, and wearing road kill as a toupée
Back to top
 
IP Logged
 
wyattstorch2004
LNF Speaker
*****
Offline

GO CUBS

Posts: 13,826
Joined: May 11th, 2004
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #16 - Apr 15th, 2018 at 3:27am
Print Post  
Ulysses wrote on Apr 14th, 2018 at 4:54pm:
No, it's not xenophobia.


Then why do you and Van Hollen seem to have such a problem with foreigners that invest in the US benefiting from a tax cut?

Quote:
It's proof the GOP/Trump have hoodwinked their base into thinking these tax cuts would go to them.


The members of this base didn't get a tax cut?  Is that what you are arguing?  That isn't even what your article is arguing.

Quote:
Hollens calculates that 80% of the tax cuts will go to foreign investors (think, China/Saudi Arabia).


That isn't what he calculates.  Neither his comments nor the article are about the tax savings.  They are about the economic growth that is expected as a result of the legislation.  He calculates that of the GDP growth that occurs as a result of the tax cuts, in one specific year -- 2028, GNP growth only accounts for 20% of that (you and Newsweek, of course, took the effect for one single year and trumpeted it as though the "worst" of the years analyzed somehow represents all of them, which is, of course, BS).  He then provides simplistic and partially incorrect analysis to that calculation.

Quote:
Furthermore, if  you had bothered to read the linked article, you'd see that CBO deputy director Keith Hall agreed with Hollens, telling him, "Your calculation's right..."


Because the calculation of the variance between GDP and GNP is correct.  Nobody is debating that.

Quote:
It is true that the CBO didn't bother to make the same calculations in their report,


The report clearly indicates the expected GDP growth as well as the expected GNP growth.  Did you read the report?  Are you complaining that they didn't do the simple subtraction?

Quote:
but the figures are all there to plug into Hollens' formula. Why the CBO dropped that ball, could be due to incompetence or partisan lack of candor.

Or both.


Did you read the CBO report?  Or at least the part I quoted in my earlier post?  Did you read my earlier post?  Because you haven't responded to it.  Why not?

Van Hollen's formula is X - Y.  Not exactly some major revelation.  He simply subtracted GNP growth due to the tax cut from GDP growth due to the tax cut.
  
Back to top
 
IP Logged
 
crepe05
LNF Speaker
LNF Bunker
*****
Offline

I Love Liberty News Forum!

Posts: 26,912
Location: Louisiana
Joined: Feb 25th, 2012
Gender: Female
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #17 - Apr 15th, 2018 at 6:00am
Print Post  
Jasmine wrote on Apr 14th, 2018 at 2:52am:
True. And those people are full of crap.


They also are dems ............... or is that the same thing?
  
Back to top
 
IP Logged
 
crepe05
LNF Speaker
LNF Bunker
*****
Offline

I Love Liberty News Forum!

Posts: 26,912
Location: Louisiana
Joined: Feb 25th, 2012
Gender: Female
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #18 - Apr 15th, 2018 at 6:04am
Print Post  
Ulysses wrote on Apr 12th, 2018 at 7:40pm:
Great job, Trump/Ryan/Mitchell/et. al....


TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAYS

President Donald Trump touted the economic growth triggered by his tax cuts in a speech Thursday afternoon, pointing out the projected growth of gross domestic product (GDP) over the next 10 years had increased because of the plan.

But 80 percent of the economic growth generated by the Republican tax cuts will eventually go abroad and benefit foreigners, according to a new report by the nonpartisan Congressional Budget Office.

The report found significant differences between projected GDP, which measures the level of production in the U.S., and gross national product, which measures the income earned by all Americans. If the economic impact from GDP is higher than GNP,  the difference between the two is income generated in the United States but going to foreigners. According to the CBO, on average 34 percent of income from the economic activity driven by the tax cuts is flowing out of the country, and in 2028, when the full effects of the tax cuts are in place, that number will increase to 80 percent.

“We heard statement after statement about how this tax plan would be great for American workers but the analysis is clear,” Senator Chris Van Hollen told Newsweek. “When this thing kicks in, 80 cents of every dollar [gained from the tax plan] will go to foreigners and not American workers. That’s a stunning number.”






All I know and actually care about is that we got a refund on our income tax of hundreds of dollars.  We haven't gotten a refund in a lot of years.  We've had to pay them.  We no longer get a paycheck, so no monthly raise, but we weren't expecting any.

Our money came back to us where it began.
  
Back to top
 
IP Logged
 
wyattstorch2004
LNF Speaker
*****
Offline

GO CUBS

Posts: 13,826
Joined: May 11th, 2004
Re: TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY
Reply #19 - Apr 15th, 2018 at 11:44am
Print Post  
crepe05 wrote on Apr 15th, 2018 at 6:04am:
All I know and actually care about is that we got a refund on our income tax of hundreds of dollars.  We haven't gotten a refund in a lot of years.  We've had to pay them.  We no longer get a paycheck, so no monthly raise, but we weren't expecting any.

Our money came back to us where it began.


If you got a refund related to your 2017 taxes, it probably had nothing to do with the new tax law.  That law applies to tax years 2018 and beyond.
  
Back to top
 
IP Logged
 
Page Index Toggle Pages: 1 [2] 
Send TopicPrint
 
Liberty News ForumLNF Forums HerePolitical Opinion Page - The Hot Seat › TRUMP TAX PLAN: 80 PERCENT OF ECONOMIC GAINS WILL END UP GOING TO FOREIGNERS, CBO SAY

LNF Home - Political Opinion Page
LNF Forums

Christian Forum - Religion Forum - Sports Forum - Entertainment - House
Military, History - Cooking and Crafts - Creative Writing
Off the Wall News - Science Forum - Tech Gadgets - Financial News - Humor
Bunker - Page 2 - Page 3 - Page 4 - Chat Room





Drudge Report - News Max - Rush Limbaugh - FrontpageMag
Advertise on the LNF - Twitter LNF - LNF Archive - LNF News
LNF Blog
News and Political Links
Political Blogs
Add your website or blog
Political Columnists
Political Humor
A1 News Page
David Limbaugh
Political Frog
Conservatives Directory
President Trump Approval Poll
Presidential Party Election Poll News forum posting, privacy policy and member rules