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New Senate Tax Plan


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On 1/24/2018 at 10:52 AM, red321 said:

Tax giveaway helping companies...lay off workforce

https://www.nytimes.com/2018/01/23/business/kimberly-clark-layoffs.html?rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business&region=rank&module=package&version=highlights&contentPlacement=1&pgtype=sectionfront

Restructurings typically come with upfront costs for the companies, as they pay workers severance or renegotiate leases. In a conference call with analysts on Tuesday, Kimberly-Clark’s chief financial officer, Maria Henry, said “cash flow benefits” from the Republican tax cut would help fund “the restructuring program over the next few years.” She said the tax savings would also be used to make capital investments and to “allocate significant capital to shareholders.”

did you read the article? it's a margin and declining market issue. tax cuts or no tax cuts, as mentioned, Amazon and Walmart are drastically changing the landscape of the retail market.

maybe the tax cut helped save some jobs whereas they may have cut more people if it hadn't had happened. 

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7 hours ago, Jason said:

Agreed but saving a few bucks can be a big deal for a lot of people 

this is true.

so many times I see a loan that only saves someone $30 or $50 a month and I don't feel the math works out too well, but it means the world to the individual and that $30 means a lot to their monthly financial situation.

things I'm sure most of us oc residents don't think about or have to worry about.

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6 hours ago, Rico said:

Yes.  Tax break or no tax break, doesn't really have an impact on jobs.

 

This is so laughable. I can't face palm hard enough.

Many, many companies have cited the tax cuts as a driving factor to increased hiring, investment, wage increases etc.

Try to find me one that cites the tax cuts as a legit reason for lay offs.

 

I'll be waiting:

d4c7ed99c07a00c53309d835d78316a8cc36af60107131bed123b3f056b5e5bf.jpg

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2 hours ago, Make Angels Great Again said:

 

This is so laughable. I can't face palm hard enough.

Many, many companies have cited the tax cuts as a driving factor to increased hiring, investment, wage increases etc.

Try to find me one that cites the tax cuts as a legit reason for lay offs.

 

I'll be waiting:

d4c7ed99c07a00c53309d835d78316a8cc36af60107131bed123b3f056b5e5bf.jpg

Did I say tax cuts are the reason for lay offs?  No.  What I've been saying all along is that tax cuts for corporations has no impact on job creation. 

Now a tax cut for the middle class, that would be a different story.  Giving a tax cut to the middle and lower class would have a greater positive impact to our economy than tax cuts to corporations.

See the job creation were seeing now has more to do with the overall strong economy than simply tax cuts.  It's a trend that goes back to the last four years of Obama's presidency.

 

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18 minutes ago, Rico said:

Did I say tax cuts are the reason for lay offs?  No.  What I've been saying all along is that tax cuts for corporations has no impact on job creation. 

Now a tax cut for the middle class, that would be a different story.  Giving a tax cut to the middle and lower class would have a greater positive impact to our economy than tax cuts to corporations.

See the job creation were seeing now has more to do with the overall strong economy than simply tax cuts.  It's a trend that goes back to the last four years of Obama's presidency.

 

How would tax cuts to the middle and lower class have an impact on job creation? 

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21 minutes ago, Rico said:

Businesses don't hire employees based on their overall profit margins.  They hire as many employees they need to do the actual job, based on demand.  A way to increase demand is for everyday Joes to have greater spending power.

Businesses expand based on overall profit margins. They hire employees to do the actual jobs that are required to fulfill their expansion. 

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"Even if President Trump is skeptical of his own tax plan, manufacturers are buying his "Middle Class Miracle" pitch on the "rebirth of the American Industry." And some are already acting on the expectation that his plan will pass: one manufacturing president said that his company is buying $1 million of new equipment this week "to take advantage of Trump's tax plan."

Why it matters: Republicans tried and failed to pass health care legislation multiple times, and some are worried the same could happen with taxes. As Axios reported yesterday, Trump wasn't thrilled about the tax framework introduced by the "Big Six" and his tax plan could be ruined if he handles this reform with the same fickleness he showed on ACA repeal-and-replace efforts.


But manufacturing execs selected by the National Association of Manufacturers (NAM) were predictably excited about Trump's plan as he gave a tax speech to them today in D.C. Trump's plan to cut taxes will "unleash economic and animal spirits that drive the economy," said Nick Pinchuck, a manufacturing CEO and NAM board member.

Six manufacturing executives held a roundtable discussion about the effects of Trump's tax plan before his speech.
Some are already acting as if it has passed. In addition to buying $1 million of new equipment, other manufacturers talked about "increasing our capital investment by 40%," doubling the amount of exports to China, and hiring new employees.
A key selling point for NAM members is full-and-immediate expensing, which will allow companies to to write off the costs of new equipment in the same year they buy it, rather than incrementally over 10 years. This "gives us testosterone and enthusiasm" to buy new equipment and products now, said Drew Greenblatt, a manufacturing president and NAM executive board member.
"The optimism comes from the expectation" that Trump's tax plan will pass, said Rich Gimmel, a NAM board member."

 

https://www.axios.com/some-manufacturers-are-already-acting-on-trumps-tax-plan-1513305858-42ff43f1-ba37-4050-87fd-7dca5a049359.html

 

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1 hour ago, Geoff said:

 

Wow!  That's fantastic! 

Man, I had no idea that you and your wife were part of the 1% that benefited from this tax plan.

 

 

With increased take home on quarterly distributions my math says we will see $4500-$5K per year. That pays for preschool. 

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