Can This Administration Be Any More Inept? Mnunchin Lied About Tax Anaylsis

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BZ

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In keeping with this cluster fuck of an administration's one clear policy of LYING, Mnuchin has failed to provide a tax analysis of this ridiculous tax plan. He has touted for months that 100's of people have been working around the clock analyzing the plan. Imagine the GOP's surprise that he has been lying and no report has been completed! Seriously?! You can't make this shit up....what a cluster fuck.

Now, the Treasury Department’s inspector general is examining whether political considerations interfered with Secretary Steven Mnuchin’s promised analysis of the Republican tax proposal. “It’s a top priority,” Rich Delmar, counsel to inspector general Eric Thorson, said Thursday in an email. Delmar said he could not provide a timeframe for when the inquiry would be complete because it would depend on how quickly the department’s official watchdog receives the information and “how complex issues are.”

A new analysis released Thursday by the Joint Committee on Taxation found that the Senate tax bill would generate enough economic growth to lower its $1.4 trillion revenue cost by about $458 billion over a decade. That would leave a 10-year revenue loss of roughly $1 trillion, said the JCT, Congress’s official scorekeeper on tax legislation even after accounting for expected economic growth from the plan.

Mnuchin has promised “complete transparency” about the analysis and the tax plan’s economic benefits. However, in September, the Wall Street Journal reported that Treasury had removed from its website a 2012 research paper that contradicted the Trump administration’s stance on the wage growth expected from a corporate rate tax cut.
 

BZ

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What did you idiots complain about before Obama?

Care to comment on this lunacy occurring NOW?
 

I'm from the government and I'm here to help
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obama pushed through obamacare before anyone could actually read or analyze it and now trump pushing through tax bill before anyone does their due diligence. like obamacare i just always assume it's a shit plan that fucks the majority of people....

call me a cynic
 

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obama pushed through obamacare before anyone could actually read or analyze it and now trump pushing through tax bill before anyone does their due diligence. like obamacare i just always assume it's a shit plan that fucks the majority of people....

call me a cynic

Wait...

9aa94b0c6f4d52e74b6a571fa585fbf4--tower-of-babel-conservative-politics.jpg


You mean this didn't help the people like they promised it would?
 

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8 YEARS OF INEPT OBAMA GOT US TO THIS



[h=1]North Korea celebrates becoming a nuclear state with huge rally and firework display[/h]
  • Troops cheered, laughed and smiled as a beautiful firework display lit up Kim Il-Sung Square in Pyongyang
  • North Korea is celebrating the declaration by dictator Kim Jong-Un that the Stalinist state is a nuclear power
  • It comes after the dramatic launch of the long-range Hwasong-15 intercontinental ballistic missile on Tuesday


46DF689C00000578-5136407-image-a-180_1512132326279.jpg

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Troops cheered, laughed and smiled as a huge firework display lit up Kim Il-Sung Square in Pyongyang following the successful test of the Hwasong-15 intercontinental ballistic missile on Tuesday

46DF65F900000578-5136407-image-a-179_1512132317663.jpg

+8





North Korea's leader Kim Jong-Un declared the country had achieved the 'historic cause' of becoming a nuclear state, its state media said on November 29. Pictured: Soldiers laugh at the rally today

46DF852100000578-5136407-image-a-190_1512132414405.jpg

+8





North Korean troops and civilians attend a mass rally to celebrate the North's declaration on November 29 it had achieved full nuclear statehood



46DF6D1400000578-5136407-image-a-176_1512132311199.jpg

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Kim bragged that his country has achieved full nuclear statehood after successfully testing a missile capable of hitting almost anywhere in the world. Pictured: Fireworks in Pyongyang today

46DF63CC00000578-5136407-image-a-183_1512132342268.jpg

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In a broadcast on state TV, North Korea said the Hwasong-15 missile reached an altitude of around 2,780 miles - more than 10 times the height of the international space station - and flew 600 miles during its 53 minute flight. Pictured: Pretty fireworks over Pyongyang

46DF61AC00000578-5136407-image-a-184_1512132394291.jpg

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If the Hwasong-15 had been fired on a typical trajectory, analysts believe it would have a maximum range of around 8,000 miles (13,000km) - leaving only South America and a small part of Africa beyond it's reach. Pictured: Troops clapping at the event today

46DF788100000578-5136407-image-a-186_1512132401456.jpg

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State media said: 'The great success in the test-fire of ICBM Hwasong-15 is a priceless victory won by the great and heroic people of the DPRK'

46DF834600000578-5136407-image-a-189_1512132410528.jpg

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The country ended a 10-week pause in its weapons testing when it fired off the rocket - its most powerful ICBM yet, which the regime claimed could be fitted with a 'super heavy nuclear warhead'. Pictured: Rows of North Korean troops




 

BZ

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obama pushed through obamacare before anyone could actually read or analyze it and now trump pushing through tax bill before anyone does their due diligence. like obamacare i just always assume it's a shit plan that fucks the majority of people....

call me a cynic


You're not a cynic and I couldn't agree more. By all accounts, it's an absolute shit plan yet these idiots think it's good. And this administration doesn't even bother to check it's own numbers...WTF!
 

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8 YEARS OF INEPT OBAMA Led to Iran becoming a regional superpower


[h=1]Why Obama Turned Iran Into a Regional Power[/h][FONT=&quot]
By Ben Shapiro | July 16, 2015 | 4:25 AM EDT


[/FONT]

In 2007, I wrote of then-Senator Obama, "Iran's leaders must be praying every day that Americans turn to a candidate like Barack Obama." Obama's pro-Iran orientation was no secret then, and it is no secret now. Obama's Arab Spring has turned into his Islamist Summer because Obama wanted an Islamist Summer. No wonder America's enemies cheer the man 66 million Americans elected, even as the rest of the world readies for the inevitable onslaught.


[FONT=&quot][/FONT]
 

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. By all accounts, it's an absolute shit plan yet these idiots think it's good. !

"By all accounts"

You're so dumb it is boring.

"Our results indicate a reduction in tax liability for every scenario we modeled, with some of the largest cuts accruing to moderate-income families with children."

DPvfynVW4AAFmg7.jpg


- Tax Foundation
 

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8 YEARS OF INEPT OBAMA GOT US TO THIS


[FONT=&quot]Obama has also presided over some of the biggest budget deficits in the last four decades

[/FONT]
PRESECON%20Budget%20Deficits.JPG
[FONT=&quot]

[/FONT]
 

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8 YEARS OF INEPT OBAMA GOT US TO THIS

[FONT=&quot]Those big Obama deficits also added substantially to the pile of public debt outstanding, which now stands at roughly 100 percent of GDP.


[/FONT]
PRESECON%20Public%20Debt.JPG
 

BZ

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"By all accounts"

You're so dumb it is boring.

"Our results indicate a reduction in tax liability for every scenario we modeled, with some of the largest cuts accruing to moderate-income families with children."

DPvfynVW4AAFmg7.jpg


- Tax Foundation



You are the dumb one:

The Senate plan would help businesses more than individuals. Through 2027, business taxes would be lower overall. But individual taxes at every income level would increase by 2027.

Among individuals, it would help higher income families the most. Everyone gets a tax cut in 2019. But in 2021, taxes will increase on those making $30,000 or less. By 2023, costs will rise on everyone who makes less than $40,000 a year. The tax cuts expire in 2025. As a result, all income levels will pay higher taxes in 2027. The tax increases are due to the elimination of so many deductions. That's according to the most recent analysis of the Senate plan by the Joint Committee on Taxation.

The Tax Policy Center found that taxpayers earning in the top 1 percent would receive a larger percent tax cut than those in lower income levels. By 2027, those in the lowest 20 percent would pay higher taxes.

The Tax Policy Center estimated the House bill would impose higher taxes on 31 percent of middle-class households in 2027.

Both plans increase in the standard deduction will benefit 6 million taxpayers. That's 47.5 percent of all tax filers, according to Evercore ISI. But that's not enough to offset lost deductions for many income brackets.

Neither plan helps the lowest-income families. That's because more than 70 million Americans don't make enough to pay taxes. The plans also don't help the third of taxpayers who have incomes that fall below current standard deduction and personal exemptions, according to New York University law professor Lily Batchelder.

Both plans increase the deficit by almost $1.5 trillion over the next 10 years. Budget-conscious Republicans have done an about-face. The party fought hard to pass sequestration. In 2011, some members even threatened to default on the debt rather than keep adding to it. Now they say that the tax cuts would boost the economy so much that the additional revenues would offset the tax cuts. They ignore the reasons why Reaganomics would not work today.

Furthermore, some tax breaks, like those for non-child dependents, end in five years. But House leaders admit that a future Congress will probably extend it, thus adding more to the national debt. If it isn't extended, then some middle-income taxpayers will see their taxes rise after 2023.

The Penn Wharton School of Business said the House plan would increase the $20 trillion debt by $2 trillion over its first 10 years. The Wharton estimate includes $500 billion in additional interest on the debt. It said the House plan would boost growth by 0.4 percent and 0.9 percent in its first 10 years. But it might not improve growth at all in the subsequent 10 years.

Increase in sovereign debt dampens economic growth in the long run. When a country's debt-to-GDP-ratio is more than 100 percent, investors get concerned. They demand higher yields on the nation's bonds, increasing interest rates. Those higher rates slow growth.

The administration believes in supply-side economics. It says companies will use tax cuts to create jobs. It worked during the Reagan administration because the highest tax rate was 70 percent. According to the Laffer Curve, that's in the prohibitive range. The range occurs at tax levels so high that cuts boost growth enough to offset revenue loss. But trickle-down economics no longer works because the 2017 tax rates are half what they were in the 1980s.

Many large corporations confirmed they won't use the tax cuts to create jobs. CEOs of Cisco, Pfizer, and Coca-Cola would instead use the extra cash to pay dividends to shareholders. The CEO of Amgen will use the proceeds to buy back shares of stock. In effect, the business tax cut will boost stock prices, but won't create jobs.

The most significant tax cuts should go to the middle class who are more likely to spend every dollar they get. The wealthy use tax cuts to save or invest. It helps the stock market but doesn't drive demand. Once demand is there, then businesses create jobs to meet it. Middle-class tax cuts create more jobs. But the best unemployment solution is government spending to build infrastructure and directly create jobs.
 

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You are the dumb one:

The Senate plan would help businesses more than individuals. Through 2027, business taxes would be lower overall. But individual taxes at every income level would increase by 2027.

Among individuals, it would help higher income families the most. Everyone gets a tax cut in 2019. But in 2021, taxes will increase on those making $30,000 or less. By 2023, costs will rise on everyone who makes less than $40,000 a year. The tax cuts expire in 2025. As a result, all income levels will pay higher taxes in 2027. The tax increases are due to the elimination of so many deductions. That's according to the most recent analysis of the Senate plan by the Joint Committee on Taxation.

The Tax Policy Center found that taxpayers earning in the top 1 percent would receive a larger percent tax cut than those in lower income levels. By 2027, those in the lowest 20 percent would pay higher taxes.

The Tax Policy Center estimated the House bill would impose higher taxes on 31 percent of middle-class households in 2027.

Both plans increase in the standard deduction will benefit 6 million taxpayers. That's 47.5 percent of all tax filers, according to Evercore ISI. But that's not enough to offset lost deductions for many income brackets.

Neither plan helps the lowest-income families. That's because more than 70 million Americans don't make enough to pay taxes. The plans also don't help the third of taxpayers who have incomes that fall below current standard deduction and personal exemptions, according to New York University law professor Lily Batchelder.

Both plans increase the deficit by almost $1.5 trillion over the next 10 years. Budget-conscious Republicans have done an about-face. The party fought hard to pass sequestration. In 2011, some members even threatened to default on the debt rather than keep adding to it. Now they say that the tax cuts would boost the economy so much that the additional revenues would offset the tax cuts. They ignore the reasons why Reaganomics would not work today.

Furthermore, some tax breaks, like those for non-child dependents, end in five years. But House leaders admit that a future Congress will probably extend it, thus adding more to the national debt. If it isn't extended, then some middle-income taxpayers will see their taxes rise after 2023.

The Penn Wharton School of Business said the House plan would increase the $20 trillion debt by $2 trillion over its first 10 years. The Wharton estimate includes $500 billion in additional interest on the debt. It said the House plan would boost growth by 0.4 percent and 0.9 percent in its first 10 years. But it might not improve growth at all in the subsequent 10 years.

Increase in sovereign debt dampens economic growth in the long run. When a country's debt-to-GDP-ratio is more than 100 percent, investors get concerned. They demand higher yields on the nation's bonds, increasing interest rates. Those higher rates slow growth.

The administration believes in supply-side economics. It says companies will use tax cuts to create jobs. It worked during the Reagan administration because the highest tax rate was 70 percent. According to the Laffer Curve, that's in the prohibitive range. The range occurs at tax levels so high that cuts boost growth enough to offset revenue loss. But trickle-down economics no longer works because the 2017 tax rates are half what they were in the 1980s.

Many large corporations confirmed they won't use the tax cuts to create jobs. CEOs of Cisco, Pfizer, and Coca-Cola would instead use the extra cash to pay dividends to shareholders. The CEO of Amgen will use the proceeds to buy back shares of stock. In effect, the business tax cut will boost stock prices, but won't create jobs.

The most significant tax cuts should go to the middle class who are more likely to spend every dollar they get. The wealthy use tax cuts to save or invest. It helps the stock market but doesn't drive demand. Once demand is there, then businesses create jobs to meet it. Middle-class tax cuts create more jobs. But the best unemployment solution is government spending to build infrastructure and directly create jobs.


Lol, he's like a fighter who has been knocked down twice assuring the ref that he's right as rain, lol. Since you, unfortunately, don't visit us often, you may unaware that A Sap Sucker 2.5 weeks ago asked, when it was announced that Mueller already had enough evidence to indict Flynn, why, then, didn't he actually indict him? A moron of epic proportions...
 

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