+1troll
+1i'll answer: More that you would have had before tax reform.
What will be left to spend once higher rates higher inflation & higher energy prices?
I expect interest rates to rise, as will inflation, both to be expected, and probably desirable, at this point in the “cycle”. Whether they stop rising at the right time is questionable... As for energy, seems there’s an excess of capacity, what with tar sands, fracking, etc., which I think will limit the upside.
What the new tax bill will do for tax revenues remains to be determined. Guess we’ll find out. [emoji51]
As for me personally, I expect my tax bill will drop, since the standard deduction will be higher than my current itemized deductions. Didn’t necessarily need or want a tax break, but I’ll take it!
What will be left to spend once higher rates higher inflation & higher energy prices?
Even Congress didn't call it Tax Reform. They called it the Tax Cut and Jobs Act.
They claim many don't pay taxes but that's not true.
Just buy an electric car & dodge it. That's happening now.Raising the gas tax would slow the economy as it is a regressive tax.
Just buy an electric car & dodge it. That's happening now.
That’s kind of ironic don’t you think? Just got done passing a huge tax cut and then turn around and propose a tax hike because they are short of revenue.I read a couple of articles the other day about how they are kicking around the idea of increasing the Federal gas tax to fund infrastructure. Saw the figure of an extra 25 cents per gallon mentioned a couple of times. (current is 18.4 cents per gallon)
Anyways, while I'm certainly not looking forward to inflation, I hear it would supposedly help the Federal government servicing the debt.
We're at near full employment anyway ... so I don't really know about the "jobs" part of that title.
Apparently, there is a LOT left to spend, if you’re a corporation and want to do stock buybacks. Tax cut scoreboard: Workers $6 billion; Shareholders: $171 billion - Feb. 16, 2018
Wow double the buy-backs!!!
That’s kind of ironic don’t you think? Just got done passing a huge tax cut and then turn around and propose a tax hike because they are short of revenue.
Or they could give it back as a large one-time dividend. Tax rates are low today.
It is true. Many operate/work outside the tax system in the cash economy & thus aren't taxed ex sales taxes & user fees.I thought higher inflation brings higher interest rates which makes servicing debt more costly. Raising the gas tax would slow the economy as it is a regressive tax. They claim many don't pay taxes but that's not true.