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Valued Social Butterfly
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Re: Who's Benefiting from the new GOP tax Plan?

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Message 31 of 44

@ChasKy53

Doesn’t it seem that their slight of hand is this: when they speak of a pay increase, in effect this would probably be an increase in take home pay due to a reduction of taxes. But that is not a “wage” increase for 90% of the work force, which is what they want it to appear to be. Once again, not giving a truthful explanation as to what the facts are?

 

Please add in that the “one time” $1000 bonus also is not a “wage” increase. It is a one time PR bonus. 

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Valued Social Butterfly
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Re: Who's Benefiting from the new GOP tax Plan?

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Message 32 of 44

@KidBoy2wrote:
How average Americans benefit from the GOP tax reform.

https://community.aarp.org/t5/Politics-Current-Events/Who-s-Benefiting-from-the-new-GOP-tax-Plan/m-p...

Part of the link..


Here’s one way millions of Americans will benefit from the Republican tax reform, even if they don’t benefit directly from lower tax rates: the booming stock market.

President Trump alluded to this benefit when he recently asked some in the media if they had looked at their 401(k) balance lately.


Millions of Americans, both working and retired, have personal retirement plans, which can include both regular and Roth IRAs and defined-contribution employer plans (e.g., 401(k), 403(b), etc.).


While investments vary, we know that trillions of dollars are in stocks, bonds, mutual funds and exchange traded funds.

According to a recent study from the Center for Retirement Research at Boston College, 42.5 million households owned some type of IRA in 2016.

The study authors claim about $7.8 trillion is sitting in IRAs and another $5.7 trillion in 401(k)-type plans. Together, that’s about $13.5 trillion.

And while Trump only mentioned 401(k) accounts, that was simply a way of referring to those invested in the stock market generally. Millions more have accounts that are not retirement based.

Gallup News reports that 54 percent of U.S. adults are invested in the market, which includes both normal and tax-preferred retirement accounts.

===========================

That and like 90% of workers got a pay increase and many companies paid a bonus to workers.

But the fact that Trump is in office and signed the bill all the hateful left wingers are trying to put their left wing spin on the bill.


"90% got a pay increase" ?????  Surely you can show proof of that? Of course you can't, it's just "right wing spin".


"The only thing man learns from history is man learns nothing from history"
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Valued Social Butterfly
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Re: Who's Benefiting from the new GOP tax Plan?

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Message 33 of 44

@KidBoy2

That’s funny, these were big trump and repubs talking points of how great the tax cut was going to be. Could it be that maybe it’s not as advertised? 

The CBO has done deficit projections and they are not pretty...

a result of the tax cuts!?

And the bonus thing was a one time smoke and mirrors, PR, make them look good while they are picking citizens pockets...sugar high!

 

how about those deficits

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Valued Social Butterfly
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Re: Who's Benefiting from the new GOP tax Plan?

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Message 34 of 44

@KidBoy2wrote:
How average Americans benefit from the GOP tax reform.

https://community.aarp.org/t5/Politics-Current-Events/Who-s-Benefiting-from-the-new-GOP-tax-Plan/m-p...

Part of the link..


Here’s one way millions of Americans will benefit from the Republican tax reform, even if they don’t benefit directly from lower tax rates: the booming stock market.

Millions of Americans, both working and retired, have personal retirement plans, which can include both regular and Roth IRAs and defined-contribution employer plans (e.g., 401(k), 403(b), etc.). But a study by the MIT  Sloan Graduate School of Business, 1% of investors own 90% of the stocks so the benefit going to the bottom 99% of investors is pretty thin.

According to a recent study from the Center for Retirement Research at Boston College, 42.5 million households owned some type of IRA in 2016. And as noted above, 42.1 Million households share 10% of those stocks invested in IRAs and 401ks while 421,000 hold 90%.

The study authors claim about $7.8 trillion is sitting in IRAs and another $5.7 trillion in 401(k)-type plans. Together, that’s about $13.5 triillion,  Yep, and 421,000 hold $12.2Trillion (average $28.9 Million each) while 13.1 Million hold $1.4 Trillion, (average $106,870 each) or about 10% of what they'll need to hold their standard of living after retirement.

===========================

That and like 90% of workers got a pay increase and many companies paid a bonus to workers. totally untrue. Less than 90% got a ONE TIME bonus and virtually NOBODY got a raise higher than inflation.

But the fact that Trump is in office and signed the bill all the hateful left wingers are trying to put their left wing spin on the bill.
And the fact his worshipers won't do further research or perform simple math to analyze the data keep them THINKING Der Trumper is doing them a favor by handing all their money to the Uberrich.


 

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Valued Social Butterfly
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Re: Who's Benefiting from the new GOP tax Plan?

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Message 35 of 44
williamb39198 asked...

Care to take a shot at:

Upcoming deficits?

4-5% GDP growth?

Wage increases according to income level?

90% got wage increases??

--------------------------------------------

90% will get more pay thanks to the tax plan..wage increases that is a unknown.

All your questions are unknown...you can not answer an unknown.

Another unknown is how much more tax revenue will come in thanks to the tax cuts.
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Valued Social Butterfly
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Re: Who's Benefiting from the new GOP tax Plan?

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Message 36 of 44

The question is constantly tippy-toed around. The answer is simple - tax payers.

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Trusted Social Butterfly
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Who's Benefiting from the new GOP tax Plan?

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Message 37 of 44

One cannot view the GOP Tax Bill with a narrow lens of middle class taxpayers keeping extra money over the course of a year. One must assess the new GOP tax plan's impact on the economy. 

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Re: Who's Benefiting from the new GOP tax Plan?

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Message 38 of 44

@NOTHAPPENINGwrote:

 

Treasury: 90% of wage earners will likely see higher take-home pay

 

http://money.cnn.com/2018/01/11/pf/taxes/new-tax-law-withholding/index.html


Yeah but that don't count. They are getting it by "the sweat of their brow". They are getting it from their employers. They are getting it based on the capitalist free market.

 

It only counts if they receive it as government redistribution largess.

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Re: Who's Benefiting from the new GOP tax Plan?

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Message 39 of 44

 

Treasury: 90% of wage earners will likely see higher take-home pay

 

http://money.cnn.com/2018/01/11/pf/taxes/new-tax-law-withholding/index.html

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Re: Who's Benefiting from the new GOP tax Plan?

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Message 40 of 44

@KidBoy2

Care to take a shot at:

Upcoming deficits?

4-5% GDP growth?

Wage increases according to income level?

90% got wage increases??

 

?

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