U.S. Senate approves major tax cuts in victory for Trump

[craigt3365]

9 hours ago, Jsinbkk said:

No, the stock market anticipates. It does not reflect now. 

 

When the market decided Obama would win in 2008, it crashed

 

when it was suprised by the Trump victory, it boomed

Jeez.  You've got no idea what caused the stock market to crash.  Absolutely incredible.  Stunning actually.

[craigt3365]

9 hours ago, ilostmypassword said:

net assets including cash.

Another good indicator is income.  I've seen some countries that have high wealth per capital, but very low income.

[Jsinbkk]

16 minutes ago, craigt3365 said:

Jeez.  You've got no idea what caused the stock market to crash.  Absolutely incredible.  Stunning actually.

 

 

 

Well I do have an idea. People panicked when they realized Obama would win. See

 

http://abcnews.go.com/Business/Economy/story?id=6185247&page=1

 

 

Same happened when he was reelected

 

http://kdvr.com/2012/11/08/hours-after-obama-wins-re-election-stock-market-plunges/

 

here is the research

 

http://www.tandfonline.com/doi/abs/10.1080/09603107.2011.617692?journalCode=rafe20

 

 

 

 

[craigt3365]

7 minutes ago, Jsinbkk said:

Well I do have an idea. People panicked when they realized Obama would win. See

 

http://abcnews.go.com/Business/Economy/story?id=6185247&page=1

 

 

Same happened when he was reelected

 

http://kdvr.com/2012/11/08/hours-after-obama-wins-re-election-stock-market-plunges/

 

here is the research

 

http://www.tandfonline.com/doi/abs/10.1080/09603107.2011.617692?journalCode=rafe20

Please stop.  You're making yourself look like a fool.  From your first article:

 

Quote

 

Dow Sinks Day After Election; Obama to Inherit Bad Economy

 

Today's market woes just shows a little of what President-elect Barack Obama will face: the worst economic crisis the country has experienced since the Great Depression of the 1930s.

 

 

A single up or down day means nothing.  Obama was in charge during one of the greatest bull markets in history.  Let's blame him for that one.  Determined AFTER he left office.

[lannarebirth]

37 minutes ago, craigt3365 said:

Another good indicator is income.  I've seen some countries that have high wealth per capital, but very low income.

Correct. At present CD rates. You need $1 million in cash to create a $1,250/mo income stream from medium term time deposits.

[craigt3365]

13 minutes ago, lannarebirth said:

Correct. At present CD rates. You need $1 million in cash to create a $1,250/mo income stream from medium term time deposits.

I was referring to total income.  You can have a lot of wealth, but still can't put food on the table.  It takes income.

[EVENKEEL]

In the US as well as any other country I suppose the one greatest asset is their home. Land prices are going up in Thailand at a crazy rate, creating the land rich, money poor syndrome.

[ilostmypassword]

On 12/11/2017 at 9:18 PM, Jsinbkk said:

Corporations do not pay corporate tax, thier customers, employees, and bond and stockholders do. 

 

In your example, retired middle class could well benefit. Prices of goods and services will be lower due to less expensive inputs. Also retired middle class are big holders of Fortune 500 stocks and bonds. These dividend payments will be higher. 

 

Basic economics really

Really? So I assume you have some empirical evidence to support this contention? When corporate taxes were lowered in the past, was there a concommitant decline in prices? Under Reagan there was a 26 percent cut in corporate taxes. By your reckoning, that must have led to a huge decline in prices.

[wayned]

What would be nice is that if three gutless republican Senators stood up and said to Trump " I will gladly vote for your new tax bill if you release your 2016 tax return and have an independent accounting firm apply the new tax rules and release the results that clearly show that the rice will not benefit from the tax bill."  I would expect to see your taxes reduced more than I will make in a lifetime with the abolishment of the minimum tax law."  In addition, many corporations have already said that any tax savings will be passed on as dividends to the shareholders and there would not be any reduction in prices or wage increases.

[ilostmypassword]

32 minutes ago, wayned said:

What would be nice is that if three gutless republican Senators stood up and said to Trump " I will gladly vote for your new tax bill if you release your 2016 tax return and have an independent accounting firm apply the new tax rules and release the results that clearly show that the rice will not benefit from the tax bill."  I would expect to see your taxes reduced more than I will make in a lifetime with the abolishment of the minimum tax law."  In addition, many corporations have already said that any tax savings will be passed on as dividends to the shareholders and there would not be any reduction in prices or wage increases.

I don't think even the most hardened of Trump supporters believe him when he says he won't benefit from the tax cuts. His kind of businesses called pass-throughs and real estate investment trusts are probably the 2 biggest beneficiaries of the tax cuts. And guess where Trump's businesses are most heavily concentrated.