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#302071 - 07/06/17 01:25 AM Re: Worst Case Scenario [Re: TatumAH]
Irked Offline
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Registered: 12/14/05
Posts: 3466
Loc: Somewhere out in left field
It's pleasing to see that Brother TatumAH has also seen the light. ThumbsUp

It is necessarily a Good if it is the will of the Almighty. Right-thinking justices, like Associate Justice Gorsuch, are instruments of the Almighty; bringing the Laws of Man into sync with the eternal Law of the Almighty.
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#304119 - 11/26/17 01:02 AM Re: Worst Case Scenario [Re: NW Ponderer]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16236
Does anyone not yet believe that this is the worst case scenario?
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A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

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#304120 - 11/26/17 04:01 AM Re: Worst Case Scenario [Re: NW Ponderer]
Ujest Shurly Offline
newbie

Registered: 10/16/16
Posts: 356
Loc: Sterling Heights, MI, USA
No, it can get worse, much worse. Starting with the Republicans get their act together and pass regressive laws.
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#304123 - 11/26/17 05:25 AM Re: Worst Case Scenario [Re: NW Ponderer]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7933
Loc: North San Diego County
All the Republican ideas actually suck, when they are put into action. If they had any decent ideas, they could make some fairly permanent changes. But no, when people see how horrible their stuff is, it will be easy for a Democratic sweep to undo it.

As long as they don't do anything drastic like start WW III, we should end up okay. It's just going to take a few years.

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#304126 - 11/26/17 04:36 PM Re: Worst Case Scenario [Re: NW Ponderer]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16236
I looked over the "Vacancy Act" provision that Trump is trying to use to put Mulvaney in charge of the CFPB, and it doesn't comport with the Act. To be appointed, the person had to have worked in the agency for 90 days. Mulvaney hasn't.
_________________________
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

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#304128 - 11/26/17 05:10 PM Re: Worst Case Scenario [Re: NW Ponderer]
pdx rick Offline
Member
Carpal Tunnel

Registered: 05/09/05
Posts: 41041
Loc: Puget Sound, WA
Originally Posted By: NW Ponderer
I looked over the "Vacancy Act" provision that Trump is trying to use to put Mulvaney in charge of the CFPB, and it doesn't comport with the Act. To be appointed, the person had to have worked in the agency for 90 days. Mulvaney hasn't.

Nobody but Trump sycophants has claimed that Trump is very bright. Hmm
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#304146 - 11/27/17 11:21 AM Re: Worst Case Scenario [Re: NW Ponderer]
rporter314 Offline
old hand

Registered: 03/18/03
Posts: 6527
Loc: Highlands, Tx
Doesn't matter. Mulvaney will try to gut the agency before any legal actions prevail.
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ignorance is the enemy
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#304709 - 12/29/17 06:25 PM Re: Worst Case Scenario [Re: Ujest Shurly]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 16236
Originally Posted By: Ujest Shurly
No, it can get worse, much worse. Starting with the Republicans get their act together and pass regressive laws.
The Tax Cut frenzy of 2017 is exactly that.

This corporate/billionaire tax cut is going to be devastating in about 18 months. Initially, it will look like great guns as corporations repatriate trillions in overseas profits. How Tax Bills Would Reward Companies That Moved Money Offshore. These companies stashed money overseas to keep it from being taxed - a tax dodge. "Over the past few decades, some of the largest companies in the United States made a big bet: By stashing hundreds of billions of dollars of profits offshore, they could slash their taxes and bolster their profits."

Now the GOP has made that tax dodge pay off big time. Like the 2004 giveaway by President Bush, this giveaway is a godsend to capital-rich financiers:

Quote:
The tax breaks for bringing home such offshore profits “confirm the central tenet of tax planning that a tax deferred is a tax avoided,” said David Miller, a tax lawyer at Proskauer Rose. “For decades, U.S. multinationals have shifted profits abroad and deferred their taxes on them. If either of the tax bills pass, they will be rewarded for doing so.”
The biggest bankers, like Goldman Sachs, moreover, are "writing down" their losses in taxes and maneuvering to avoid even more taxes. In Goldman Sachs' case, they're paying $5 billion now, and have avoided $15 billion with the tax dodge. That's a 300% return!

The $3 trillion in stashed cash will allow companies that have engineered the dodge to avoid similar amounts - squeezing nearly a $1 trillion out of treasury. Where will all that money go? Well.... it's estimated that 50% will go directly to buy-backs of stock (corporations reducing outstanding stocks) and artificially inflate the books - great for investors, especially hedge funds, and it will also artificially inflate stock prices - for the next year. Wall Street says a major fear about Trump's tax plan is overblown (Don't believe Wall Street.) After that, well.... there will be a "market correction."

The rest of that windfall will go to - debt payments. Companies have been borrowing like crazy while interest rates are near 0%. But it's still debt. Getting debt off the books will make the bottom line look great. Unfortunately, when they have to borrow again (like, for taking over smaller competitors), it will be at higher rates.

After the first quarter of 2018, tax revenues to the United States Treasury will plummet - by about 40%. Yes, 40%. How Much Will Trump's Tax Plan Cost? That "$1.4 trillion" deficit expectation? Fantasy. Realistically, it will be twice that. The bite will begin to be felt in 2019 (conveniently after elections), and will be raging by 2022 - forget 2025 when the individual cuts expire. Expect a massive slow-down in the economy.
_________________________
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

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