Senate Tax Bill Passes - at 2:00 AM (EST)

[HunterSdVa29]

Not too concerned about the debt, for the same reason China never bothered me...
How, exactly are nations going to realistically call the US on it?

Sanctions? Embargo? Military intervention? Good luck with that

Im all for a simplified tax code, but this is certainly not the way to achieve it. Must be nice 2 fund campaigns

 

[Quipling]

Honestly it didn't effect me or one person I know one bit. I bet if you polled middle class workers working during that period 85% of them wouldn't even be sure what GFC is.

Did you not have any savings or investments? Most of those took a hit. Do you not know anyone who lost their home around 2008? Do you remember doubled or tripled unemployment? That was the GFC.

Not too concerned about the debt, for the same reason China never bothered me...
How, exactly are nations going to realistically call the US on it?

Sanctions? Embargo? Military intervention? Good luck with that

Im all for a simplified tax code, but this is certainly not the way to achieve it. Must be nice 2 fund campaigns

Generally, by refusing to loan the United States additional money, or only doing so at meaningfully higher interest rates. 3% interest on our debt is very different from 5%.

 

[Greoric]

Did you not have any savings or investments? Most of those took a hit. Do you not know anyone who lost their home around 2008? Do you remember doubled or tripled unemployment? That was the GFC.


Generally, by refusing to loan the United States additional money, or only doing so at meaningfully higher interest rates. 3% interest on our debt is very different from 5%.

Might be to young. I don't even think he knowns what the fuck I'm talking about. Almost every one of my friends got canned immediately when that shit storm hit.

 

[Trotsky]

Not too concerned about the debt, for the same reason China never bothered me...
How, exactly are nations going to realistically call the US on it?

Sanctions? Embargo? Military intervention? Good luck with that

They'll stop lending us money, dramatically increase interest rates, and start assigning tariffs on the $3 trillion of goods our way of living depends on.

Having a strong military doesn't mean you can dine and dash on the world economy and still think you can sit atop it.

https://www.forbes.com/sites/panosm...ectors-would-be-hit-the-hardest/#632bb2d248f1

 

[Quipling]

Might be to young. I don't even think he knowns what the fuck I'm talking about. Almost every one of my friends got canned immediately when that shit storm hit.

My impression is that Seano is old enough to know about it (ie, 30+).

Not everyone can be isolated living on an island and have an arsenal that can outfit a platoon of people mate....

A retirement plan I have pseudoseriously considered is buying a private island and just turning it into my personal paradise. I estimate that I can do this for 7 figures (real estate can be had for 6), which is within the realm of possibility.

 

[HomerThompson]

Might be to young. I don't even think he knowns what the fuck I'm talking about. Almost every one of my friends got canned immediately when that shit storm hit.

*too

 

[Trotsky]

*too

You are terrible at campaigning.

 

[HomerThompson]

You are terrible at campaigning.

Thanks.

 

[Limbo Pete]

You are terrible at campaigning.

Thanks.

Legit lol

 

[K1levelgrappler]

I'd not saying that every Republican who voted for this deserves what Steve Scalise got but...I don't know to finish this sentence cuz holy shit Republicans are scum.

Fuck it. They absolutely 100% deserve that.

 

[Swing]

Implications for Public Schools.

Like the House bill, the Senate measure curtails the federal deduction for state and local taxes. Advocates worry that states, counties and cities will have a tougher time raising money for schools — which get nearly all of of their money from state and local tax revenues — because those taxes will no longer be deductible.

This is in favor of enabling parents to send their kids to private schools.

For school choice advocates, the expansion of tax-free college savings accounts is viewed as giving more parents the opportunity to send their child to private school. Parents could spend up to $10,000 a year from those accounts.

“It’s a good first step,” said Sister Dale McDonald of the National Catholic Education Association.

The Senate Bill is a little easier on college students though.

When it comes to student loan interest deduction and tuition waivers, the Senate tax legislation is a better deal for college students and college graduates than the House version.

I'm putting some real thought into moving on from teaching. That's unfortunate because I'm kind of old to switch careers again. I've had a lot of success with my AP Calc class; when I was hired I was told that we'd never seen 50% pass rates before, and I've managed 80% over the last couple of years. That's 20% above the national average, so I probably wouldn't have too hard a time finding a job somewhere else (maybe even at a private school); but this whole thing is leaving a bad taste in my mouth.

I guess I'll see what things look like in a year.

 

[Roaming East]

Trump thinks this is #winning. so technically he wasnt wrong when he said America would get tired of it.

 

[HunterSdVa29]

They'll stop lending us money, dramatically increase interest rates, and start assigning tariffs on the $3 trillion of goods our way of living depends on.

Having a strong military doesn't mean you can dine and dash on the world economy and still think you can sit atop it.

https://www.forbes.com/sites/panosm...ectors-would-be-hit-the-hardest/#632bb2d248f1

Due to this tax bill?
I sincerely doubt it

As per the overall debt, any situation that would result in countries going to that measure would likely be simultaneously effecting them as well....reducing their ability to strongarm us in any way

 

[Trotsky]

Due to this tax bill?
I sincerely doubt it

As per the overall debt, any situation that would result in countries going to that measure would likely be simultaneously effecting them as well....reducing their ability to strongarm us in any way

No, i wasn't saying in response to the tax bill. You said "hey, what can they do if we can't repay our debt?"

The point is that it's not monopoly money, no matter how much we may think US can just keep having its cake and eating it too, i.e. giving outrageous giveaways to the rich without drastically lowering spending/the general standards of living for everyone else in the long-term.

 

[HunterSdVa29]

No, i wasn't saying in response to the tax bill. You said "hey, what can they do if we can't repay our debt?"

The point is that it's not monopoly money, no matter how much we may think US can just keep having its cake and eating it too, i.e. giving outrageous giveaways to the rich without drastically lowering spending/the general standards of living for everyone else in the long-term.

Sure...

Bc the trump administration and its tax law is forever and cant be altered or repealed...

Tell the Dems to win the Senate and House and make corrections if its so apocalyptic

Also, remember the UN Sec Cncl vote on the Iraq invasion? How did they punish the US....they didnt

 

[Rod1]

Sure...

Bc the trump administration and its tax law is forever and cant be altered or repealed...

Tell the Dems to win the Senate and House and make corrections if its so apocalyptic

Also, remember the UN Sec Cncl vote on the Iraq invasion? How did they punish the US....they didnt

The US punished itself with those sanctions.

And i think most Americans seem to understate how good their country has it by controlling the world reserve currency. That is an advantage that only an idiot would give away.

 

[mcveteran81]

If you know anyone on Medicare and are a cancer patient, they're gonna be hit...

HARD.

"This bill will blow a $1.5 trillion hole in the deficit, it will also trigger an automatic $25 billion annual cut to Medicare, under a savage austerity scheme known as the "sequester.” And because of the unusual way Medicare covers chemotherapy drugs—which are very expensive—cancer patients are going to be uniquely burdened by these cuts.

It’s also not in any way hypothetical, because it happened once before, back in 2013. This is how the headlines read at the time:"

https://www.dailykos.com/stories/20...er-patients-out-of-treatment?detail=emaildkbn

One word: depopulation.

 

[Jack V Savage]

Not too concerned about the debt, for the same reason China never bothered me...
How, exactly are nations going to realistically call the US on it?

Jesus, the level of ignorance here... People seem to think that gov't debt is like bookie debt. We sell bonds, and they are paid off according to a regular schedule.

 

[JohnnySagebrush]

Sure...

Bc the trump administration and its tax law is forever and cant be altered or repealed...

Tell the Dems to win the Senate and House and make corrections if its so apocalyptic

Also, remember the UN Sec Cncl vote on the Iraq invasion? How did they punish the US....they didnt

Raising taxes is like taking away entitlements or reducing military spending, it is politically untenable.
Not sure the relevance of the UN condemnation. We don’t need to be put in time-out to suffer. Creditors aren’t going to be invading the treasury trying to collect. Your understanding is immature. They will just stop buying our debt. And the implications of that are catastrophic.

 

[cincymma79]

Implications for Public Schools.



This is in favor of enabling parents to send their kids to private schools.



The Senate Bill is a little easier on college students though.



I'm putting some real thought into moving on from teaching. That's unfortunate because I'm kind of old to switch careers again. I've had a lot of success with my AP Calc class; when I was hired I was told that we'd never seen 50% pass rates before, and I've managed 80% over the last couple of years. That's 20% above the national average, so I probably wouldn't have too hard a time finding a job somewhere else (maybe even at a private school); but this whole thing is leaving a bad taste in my mouth.

I guess I'll see what things look like in a year.

Yes but can you plot that on the graph