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Author: Subject: President Trump and the Republicans deliver major Tax Cut and Jobs Act

Peach Extraordinaire



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  posted on 2/2/2018 at 04:59 PM
quote:
quote:
Stock market is dropping bigly today. It has been down for the past week. I assume Trump will blame this on Obama.


Well there certainly is the risk when you hang your hat too much on the stock market performance, what do you say when it declines?

Assuming the talking heads know what they are talking about, seems interest rate concerns are driving it. The underying financial news being reported by the companies and labor dept are good. Maybe it's the buy on the rumor sell on the news stuff.


Bonds were strong today. That caused many investors to move money from the stock market to the bond market. The bond market tends to be conservative and whether or not this is a trend will take a little time to figure out. Bonds are generally stronger in a weaker economy, so if the stock market continues to fall, it may mean that investors are not so bullish as they used to be. The stock market was due for a correction and it is possible that this is what is going on. Either way, I would not invest any new money in the market until we see which way this is going in the longer term.

 

World Class Peach



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  posted on 2/2/2018 at 05:06 PM
I see the lefties are displaying their ignorance of how the stock market actually works.
Can any state the stock markets performance since President Trump was elected?

Hint: the best 15 months of increase in value ever.

 

Peach Extraordinaire



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  posted on 2/2/2018 at 05:17 PM
quote:
I see the lefties are displaying their ignorance of how the stock market actually works.
Can any state the stock markets performance since President Trump was elected?

Hint: the best 15 months of increase in value ever.



It was the 4th best in history. That is until today. And the 15 months that you are crowing about means it started under Obama. Thanks for giving credit where it is due.

I know how the stock market works. Read my previous post and you might learn something

 

World Class Peach



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  posted on 2/2/2018 at 07:20 PM
quote:
quote:
I see the lefties are displaying their ignorance of how the stock market actually works.
Can any state the stock markets performance since President Trump was elected?

Hint: the best 15 months of increase in value ever.



It was the 4th best in history. That is until today. And the 15 months that you are crowing about means it started under Obama. Thanks for giving credit where it is due.

I know how the stock market works. Read my previous post and you might learn something



The stock market took off on it's historic run the day after Donald Trump was elected President.
That POS Obama presided over a weak and anemic economy.

 

Peach Extraordinaire



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  posted on 2/2/2018 at 07:22 PM
quote:
quote:
quote:
I see the lefties are displaying their ignorance of how the stock market actually works.
Can any state the stock markets performance since President Trump was elected?

Hint: the best 15 months of increase in value ever.



It was the 4th best in history. That is until today. And the 15 months that you are crowing about means it started under Obama. Thanks for giving credit where it is due.

I know how the stock market works. Read my previous post and you might learn something



The stock market took off on it's historic run the day after Barack Obama was elected President.
That POS Bush presided over a weak and anemic economy.



Fixed that for ya.

 

World Class Peach



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  posted on 2/2/2018 at 09:30 PM
quote:
quote:
quote:
quote:
I see the lefties are displaying their ignorance of how the stock market actually works.
Can any state the stock markets performance since President Trump was elected?

Hint: the best 15 months of increase in value ever.



It was the 4th best in history. That is until today. And the 15 months that you are crowing about means it started under Obama. Thanks for giving credit where it is due.

I know how the stock market works. Read my previous post and you might learn something



The stock market took off on it's historic run the day after Barack Obama was elected President.
That POS Bush presided over a weak and anemic economy.



Fixed that for ya.



Okay, your selective editing aside, where were the bonuses for millions of workers during the 8 years of Obama's failed administration?

Where were the wage increases for the workers during the 8 years of Obama's failed administration?

Companies were running out of the U.S. during the 8 years of Obama's failed administration.




 

Peach Extraordinaire



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  posted on 2/2/2018 at 09:40 PM
quote:
quote:
quote:
quote:
quote:
I see the lefties are displaying their ignorance of how the stock market actually works.
Can any state the stock markets performance since President Trump was elected?

Hint: the best 15 months of increase in value ever.



It was the 4th best in history. That is until today. And the 15 months that you are crowing about means it started under Obama. Thanks for giving credit where it is due.

I know how the stock market works. Read my previous post and you might learn something



The stock market took off on it's historic run the day after Barack Obama was elected President.
That POS Bush presided over a weak and anemic economy.



Fixed that for ya.



Okay, your selective editing aside, where were the bonuses for millions of workers during the 8 years of Obama's failed administration?

Where were the wage increases for the workers during the 8 years of Obama's failed administration?

Companies were running out of the U.S. during the 8 years of Obama's failed administration.






If you recall, and apparently you don't, Obama bailed out the auto companies to keep them afloat.

Do you realize what a small percentage of the tax breaks have been given out as bonuses?

 

Maximum Peach



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  posted on 2/2/2018 at 11:30 PM
quote:
If you recall, and apparently you don't, Obama bailed out the auto companies to keep them afloat.


If Bush hadn't have acted, there may've been no auto industry to "save"

quote:
"The Bush Administration provided short-term bridge loans," Rubenstein said. "That allowed the Obama Administration to take a couple of months to assess the situation."

Aaron Bragman, the lead American automotive analyst for the financial forecasting group IHS Automotive, echoed the point. "The Bush administration is the one that actually acted to save them from an uncontrolled bankruptcy and shutdown," Bragman said. "The Obama administration's role was to fix them."
http://www.politifact.com/truth-o-meter/article/2012/sep/06/did-obama-save- us-automobile-industry/



quote:
On December 19, 2008, a week after Republicans in the Senate had killed a bailout bill proposed by Democrats, saying it didn’t impose big enough wage cuts on the U.A.W., Bush unilaterally agreed to lend $17.4 billion of taxpayers’ money to General Motors and Chrysler, of which $13.4 billion was to be extended immediately. He had to twist the law to get the money. Deprived of congressional funding, he diverted cash from the loathed TARP program, which Congress had already passed, but which was supposed to be restricted to rescuing the banks. “I didn’t want there to twenty-one-per-cent unemployment,” he said to a meeting of the National Automobile Dealers Association in Las Vegas last month, explaining why he acted as he did. “I didn’t want history to look back and say, ‘Bush could have done something but chose not to do it.’ ”

Obama, who in December, 2008, was the President-elect, publicly supported Bush’s move, saying it was a “necessary step to avoid a collapse in our auto industry that would have devastating consequences for our economy and our workers.” After taking office six weeks later, Obama put together an auto task force that extended tens of billions more in emergency financing to Detroit over the ensuing months, and also did what appears to have been a pretty good job in restructuring G.M. and selling Chrysler to Fiat.

Obama deserves a lot of credit for finishing the job that Bush and his Treasury Secretary, Hank Paulson, had started.
https://www.newyorker.com/news/john-cassidy/an-inconvenient-truth-it-was-ge orge-w-bush-who-bailed-out-the-automakers



[Edited on 2/3/2018 by nebish]

 

Peach Extraordinaire



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  posted on 2/2/2018 at 11:40 PM
quote:
quote:
If you recall, and apparently you don't, Obama bailed out the auto companies to keep them afloat.


If Bush hadn't have acted, there may've been no auto industry to "save"

quote:
"The Bush Administration provided short-term bridge loans," Rubenstein said. "That allowed the Obama Administration to take a couple of months to assess the situation."

Aaron Bragman, the lead American automotive analyst for the financial forecasting group IHS Automotive, echoed the point. "The Bush administration is the one that actually acted to save them from an uncontrolled bankruptcy and shutdown," Bragman said. "The Obama administration's role was to fix them."
http://www.politifact.com/truth-o-meter/article/2012/sep/06/did-obama-save- us-automobile-industry/



quote:
On December 19, 2008, a week after Republicans in the Senate had killed a bailout bill proposed by Democrats, saying it didn’t impose big enough wage cuts on the U.A.W., Bush unilaterally agreed to lend $17.4 billion of taxpayers’ money to General Motors and Chrysler, of which $13.4 billion was to be extended immediately. He had to twist the law to get the money. Deprived of congressional funding, he diverted cash from the loathed TARP program, which Congress had already passed, but which was supposed to be restricted to rescuing the banks. “I didn’t want there to twenty-one-per-cent unemployment,” he said to a meeting of the National Automobile Dealers Association in Las Vegas last month, explaining why he acted as he did. “I didn’t want history to look back and say, ‘Bush could have done something but chose not to do it.’ ”

Obama, who in December, 2008, was the President-elect, publicly supported Bush’s move, saying it was a “necessary step to avoid a collapse in our auto industry that would have devastating consequences for our economy and our workers.” After taking office six weeks later, Obama put together an auto task force that extended tens of billions more in emergency financing to Detroit over the ensuing months, and also did what appears to have been a pretty good job in restructuring G.M. and selling Chrysler to Fiat.

Obama deserves a lot of credit for finishing the job that Bush and his Treasury Secretary, Hank Paulson, had started.
https://www.newyorker.com/news/john-cassidy/an-inconvenient-truth-it-was-ge orge-w-bush-who-bailed-out-the-automakers



[Edited on 2/3/2018 by nebish]


He asked what Obama did to put more money in workers pockets. I answered.

Serious question, do you come here just to jump into the middle of conversations to correct everyone with your superior knowledge?

 

Maximum Peach



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  posted on 2/2/2018 at 11:46 PM
quote:
Do you realize what a small percentage of the tax breaks have been given out as bonuses?


Crumbs?

Employee pay increases and bonuses is just one thing these companies are doing. More money for retirement matching, boosting other benefits such as paid sick and parental leave, additional job training, investing in existing and new facilities and equipment, charitable giving, paying off debt, really any use they see fit to make their companies stronger, more productive and more competitve. Investing in and rewarding their workforce makes sense, but they are under no obligation to dedicate a certain % of their savings to employee compensation or charitable giving or capital expenditures. It is up to them to do with the money as they see fit.

So here is what Obama did:

quote:
As part of the stimulus, formally known as the American Recovery and Reinvestment Act, single workers collected a $400 tax credit, and working couples got $800. The credit didn’t come in the form of a check; it worked out so that most workers had about $400 less in federal income taxes withheld from their paychecks spread out over the entire year.

That tax cut expired at the end of 2011. But Obama won another round of tax cuts for most workers in a December 2010 tax deal with Republicans in Congress. Those tax cuts -- a temporary reduction in worker’s payroll taxes, worth about 2 percent of total earnings -- expire in 2013. Again, the tax cut didn’t come as a check, but gives workers a little more in their paychecks than they would have otherwise.

http://www.politifact.com/truth-o-meter/statements/2012/sep/07/barack-obama /barack-obama-said-hes-cut-taxes-middle-class-famil/



$400 was nice right? 2% was good right? More money in their paychecks right - a good thing?

Well it was good then, but bad now.

People are going to start seeing more money in their take home pay now ontop of companies rewarding them. And most are going to pay less taxes on it. Sounds good to me!



[Edited on 2/3/2018 by nebish]

 

Maximum Peach



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  posted on 2/2/2018 at 11:50 PM
quote:
Serious question, do you come here just to jump into the middle of conversations to correct everyone with your superior knowledge?


We both know muleman doesn't reply.

I see something of substance I can add to a public conversation, I contribute. I'm sorry you don't like it. I wish we had more of it.

My knowledge isn't superior. I just remember certain things and like to offer web based examples to illustrate it.

 

Ultimate Peach



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  posted on 2/3/2018 at 03:54 AM
quote:
quote:
Do you realize what a small percentage of the tax breaks have been given out as bonuses?


Crumbs?

Employee pay increases and bonuses is just one thing these companies are doing. More money for retirement matching, boosting other benefits such as paid sick and parental leave, additional job training, investing in existing and new facilities and equipment, charitable giving, paying off debt, really any use they see fit to make their companies stronger, more productive and more competitve. Investing in and rewarding their workforce makes sense, but they are under no obligation to dedicate a certain % of their savings to employee compensation or charitable giving or capital expenditures. It is up to them to do with the money as they see fit.

So here is what Obama did:

quote:
As part of the stimulus, formally known as the American Recovery and Reinvestment Act, single workers collected a $400 tax credit, and working couples got $800. The credit didn’t come in the form of a check; it worked out so that most workers had about $400 less in federal income taxes withheld from their paychecks spread out over the entire year.

That tax cut expired at the end of 2011. But Obama won another round of tax cuts for most workers in a December 2010 tax deal with Republicans in Congress. Those tax cuts -- a temporary reduction in worker’s payroll taxes, worth about 2 percent of total earnings -- expire in 2013. Again, the tax cut didn’t come as a check, but gives workers a little more in their paychecks than they would have otherwise.

http://www.politifact.com/truth-o-meter/statements/2012/sep/07/barack-obama /barack-obama-said-hes-cut-taxes-middle-class-famil/



$400 was nice right? 2% was good right? More money in their paychecks right - a good thing?

Well it was good then, but bad now.

People are going to start seeing more money in their take home pay now ontop of companies rewarding them. And most are going to pay less taxes on it. Sounds good to me!
[Edited on 2/3/2018 by nebish]


I'm ok with giving billionaires a $400 tax refund. They don't need a multimillion dollar tax cut though. I mean somebody has to pay for Mike Pence's quarter million dollar, 10 minute football game stunts. And corporate welfare. The money's got to come from somewhere for all these important functions of government.

 

Maximum Peach



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  posted on 2/3/2018 at 08:06 AM
quote:
quote:
quote:
quote:
quote:
I see the lefties are displaying their ignorance of how the stock market actually works.
Can any state the stock markets performance since President Trump was elected?

Hint: the best 15 months of increase in value ever.



It was the 4th best in history. That is until today. And the 15 months that you are crowing about means it started under Obama. Thanks for giving credit where it is due.

I know how the stock market works. Read my previous post and you might learn something



The stock market took off on it's historic run the day after Barack Obama was elected President.
That POS Bush presided over a weak and anemic economy.



Fixed that for ya.



Okay, your selective editing aside, where were the bonuses for millions of workers during the 8 years of Obama's failed administration?

Where were the wage increases for the workers during the 8 years of Obama's failed administration?

Companies were running out of the U.S. during the 8 years of Obama's failed administration.




What are you doing with your extra 14 dollars a week?

 

Zen Peach



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  posted on 2/3/2018 at 12:44 PM
quote:
If Bush hadn't have acted, there may've been no auto industry to "save"


The American economy collapsed at the end of his second term. Helluva nice guy, though?

 

____________________
"Live every week like it's Shark Week." - Tracy Jordan

 

Maximum Peach



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  posted on 2/3/2018 at 11:27 PM
quote:
quote:
If Bush hadn't have acted, there may've been no auto industry to "save"


The American economy collapsed at the end of his second term. Helluva nice guy, though?


There was always the alternative, do nothing as many within his party wanted.

 

Ultimate Peach



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  posted on 2/4/2018 at 02:39 PM
Here's a glaring example of success of the tax cut. This from the same Paul Ryan who has talked about vouchers for Medicare & tinkering with Social Security.

https://www.yahoo.com/news/paul-ryan-slammed-over-tweet-praising-tax-cut-06 1603496.html

 

Ultimate Peach



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  posted on 2/4/2018 at 03:06 PM
quote:
Here's a glaring example of success of the tax cut. This from the same Paul Ryan who has talked about vouchers for Medicare & tinkering with Social Security.

https://www.yahoo.com/news/paul-ryan-slammed-over-tweet-praising-tax-cut-06 1603496.html


Let them eat cake, or at least a Ho Ho once a week.

 

Maximum Peach



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  posted on 2/4/2018 at 11:04 PM
quote:
quote:
Here's a glaring example of success of the tax cut. This from the same Paul Ryan who has talked about vouchers for Medicare & tinkering with Social Security.

https://www.yahoo.com/news/paul-ryan-slammed-over-tweet-praising-tax-cut-06 1603496.html


Let them eat cake, or at least a Ho Ho once a week.


What an utter idiot.

Look you know I support these tax cuts and I believe there is going to be economic success stemming from them. It's not the exact bill I would've written, but I would've voted for it.

For a person like me, or any supporter of the tax cuts, there are many ways to paint the positives on this.

How stupid does one have to be to undermine the message with a tweet like that? I mean, was it hacked or something? Just pure stupidity. Maybe Republicans should just stop tweeting, they aren't very good at it.

 

Ultimate Peach



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  posted on 2/5/2018 at 08:40 AM
quote:
quote:
quote:
Here's a glaring example of success of the tax cut. This from the same Paul Ryan who has talked about vouchers for Medicare & tinkering with Social Security.

https://www.yahoo.com/news/paul-ryan-slammed-over-tweet-praising-tax-cut-06 1603496.html


Let them eat cake, or at least a Ho Ho once a week.


What an utter idiot.

Look you know I support these tax cuts and I believe there is going to be economic success stemming from them. It's not the exact bill I would've written, but I would've voted for it.

For a person like me, or any supporter of the tax cuts, there are many ways to paint the positives on this.

How stupid does one have to be to undermine the message with a tweet like that? I mean, was it hacked or something? Just pure stupidity. Maybe Republicans should just stop tweeting, they aren't very good at it.

Agree - very stupid statement on part of Ryan. But he's playing follow the leader, and look how stupid and inaccurate many of Trump's tweets are.

I wouldn't have voted for the tax bill, as I think the addition to deficit with hopes for growth offset are speculative. The deficit hawks in Congress rolled over. If the percentages given to middle class earners would have been greater and less for the uber rich and a bit less for businesses, I might have considered it more fair. Give the greatest amount to the greatest % of population who who have the greatest potential for spending. I like that approach rather than top down.

 

Zen Peach



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  posted on 2/5/2018 at 10:59 AM
quote:
quote:
The company I work for hasn't given a raise to most of its hourly workers in 15 years. They said that they will not be giving them a raise this year. I guess I can thank Trump for that. Also my year end bonus is going to be less this year so thanks Trump.

Was thinking about the $1000 bonuses companies are giving out. The set up for these bonuses are this

Less than two years: $200
Two to four years: $250
Five to nine years: $300
10 to 14 years: $400
15 to 19 years: $750
20+ years: $1,000

When I got hired in to the company I work for I got a year end bonus after four months. The amount I got before taxes would have taken 15 years working retail.


No raise in 15 years. I'm sorry to hear that. Do you care to give any details on the line or work or employer? I assume you stay there due to lack of better opportunities locally?


Company is Steelcase and I've been there five years now. Not sure why people have stayed but I think that they didn't want to start at the bottom seniority wise somewhere else. I've stayed because nothing that pays more has been offered to me,the work I do is easy and I like being done with work at 2 in the afternoon.

 

Peach Extraordinaire



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  posted on 2/5/2018 at 03:43 PM
The Dow is down 1000 after being down 666 on Friday. Is Trump still taking credit for the market?
 

Ultimate Peach



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  posted on 2/5/2018 at 05:42 PM
quote:
The Dow is down 1000 after being down 666 on Friday. Is Trump still taking credit for the market?


Trump always claims the best and most bigly things. So...he owns this. Bet he'll stop by Mickey D's tonight & celebrate in his usual manner...couple Bigly Macs with a porn star for dessert.

"Stocks tumbled on Monday.
The Dow fell 1,175.21 points, the largest one-day point drop in history.
Previous large one-day drops include several days during the financial crisis, and the first trading day after the September 11, 2001 terror attacks."

 

Maximum Peach



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  posted on 2/5/2018 at 09:21 PM
quote:

Company is Steelcase and I've been there five years now. Not sure why people have stayed but I think that they didn't want to start at the bottom seniority wise somewhere else. I've stayed because nothing that pays more has been offered to me,the work I do is easy and I like being done with work at 2 in the afternoon.


Thanks, I was wondering, but it looks like you are outside of the auto company factories and plants.


 

Maximum Peach



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  posted on 2/5/2018 at 09:26 PM
quote:
The Dow is down 1000 after being down 666 on Friday. Is Trump still taking credit for the market?


Well, we had the "Trump bump" after the election...

...one could say our current stock market is the "Trump slump". You like that one?

Markets go up, markets go down. Experts on news can't accurately predict it either way. I do think there was anticipation and expectation of something out of the Trump administration that lead to the gradual market incline to the steep gains. So they got what they wanted. Now the guessers, I mean 'experts' are back to guessing what is going on.

 

Peach Extraordinaire



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  posted on 2/5/2018 at 09:50 PM
quote:
quote:
The Dow is down 1000 after being down 666 on Friday. Is Trump still taking credit for the market?


Well, we had the "Trump bump" after the election...

...one could say our current stock market is the "Trump slump". You like that one?

Markets go up, markets go down. Experts on news can't accurately predict it either way. I do think there was anticipation and expectation of something out of the Trump administration that lead to the gradual market incline to the steep gains. So they got what they wanted. Now the guessers, I mean 'experts' are back to guessing what is going on.


Well, that wasn't my point, but whatever.

 
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