U.S. Politics

[Giggle]

Losing their minds. Trump has done more for Americans in two years than Bobo did in 8. True to his imitation roots, Barry was a plaything of the bankers and fraudsters, always pandering to the latest gimmick -- never a serious president with the nation's best interest in mind.

Trump acts with Americans in mind -- not specific identity groups, not handicapped lesbians or restroom confused retards. Trump is, surprisingly, presidential. And I say that after initially being skeptical of his ability to be president. I'm glad he's America's leader and not some mincing idiot we've suffered for the better part of a decade.

America is strong and the world needs a strong America. The whiny losers mostly don't want a strong America because their country, or gaggle of misfits, has been reduced to a sniveling, washed-up has-been. Completely irrelevant. Keep complaining -- the world is passing you by.

[jimjay]

According to a study from the University of Wisconsin released this week, Trump's Tax Cuts and Jobs Act led to an increase in defined-benefit pension plans in 2017. The act was signed into law in December and lowered the corporate tax rate from 35 to 21 percent.

STEADY WINNING.

You mean this info you lifted from Breitbart the right wing mag?

http://www.breitbart.com/big-government ... ributions/

Who got it from:

http://thehill.com/policy/finance/38974 ... 2017-study

Who in turn got it from:

https://papers.ssrn.com/sol3/papers.cfm ... id=3185711

The abstract for which reads:

The Effects of the Tax Cuts & Jobs Act of 2017 on
Defined Benefit Pension Contributions

40 Pages Posted:
Fabio B. Gaertner

University of Wisconsin - Madison - Department of Accounting and Information Systems
Dan Lynch

University of Wisconsin - Madison - Department of Accounting and Information Systems
Mary Vernon

University of Wisconsin - Madison

Date Written: May 27, 2018
Abstract

This study examines the effect of the Tax Cuts & Jobs Act of 2017 (TCJA) on corporate defined benefit pension contributions. The TCJA is the most significant piece of tax legislation since 1986. One of the primary changes to the tax code is the decrease of the corporate tax rate from 35 percent in 2017 to 21 percent in 2018. This decrease incentivizes firms to increase tax deductions related to pension contributions in 2017. Consistent with this incentive, we find firms increase average pension contributions by about 24% in 2017 compared to earlier years. We also find that taxpaying firms are the primary contributors, consistent with the rate reduction driving our results. Finally, we find that results are strongest for firms with high levels of deferred tax assets, consistent with financial reporting incentives from the tax rate reduction playing an important role in deciding how much to contribute. Overall, our results suggest a potential unintended consequence of the corporate tax rate reduction.

The KEY part is:

Overall, our results suggest a potential unintended consequence of the corporate tax rate reduction.

Anyone wishing to examine this STUDY which is just that, a STUDY, can find it in PDF format here:

https://papers.ssrn.com/sol3/Delivery.c ... 11&mirid=1

Lonesie, you still seem to care more about spamming your political views than providing the actual details of any aspect of US political developments, otherwise you'd post links to the sources of your statements.

The country will do better when the cheer leading ends and discourse begins.

Here's another chance you had to actually help your country and failed to do because you care more about messing with Libtards than moving the country forward.

One more reason November 2018 will be more like Civil War than an election.

All your fault the whole mess LOL

[Lone Star]

. . .

The KEY part is:

Overall, our results suggest a potential unintended consequence of the corporate tax rate reduction.

. . .

There were INTENDED consequences of the tax cuts.
1. more money in paychecks for American workers,
2. repatriating billions of dollars back to the US
3. more available revenue to invest
4. more expansion in corporate America -- which has translated to more jobs for American workers and the lowest unemployment rate in decades

An added benefit has been that many companies gave generous bonuses to their employees and expanded funding for higher education for their employees.

And now there is an UNINTENDED result of the tax cuts that has been an incentive to companies to increase their contributions in defined-benefit pension plans. That's a BAD THING? 55555 You're hilarious.

I call that EXTRA STEADY WINNING.

[tinpeeba]

"We should beware of the demagogues who are willing to declare a trade war against our friends, weakening our economy, our national security, and the entire free world, all while cynically waving the American flag." - Ronald Reagan

https://www.youtube.com/watch?v=Tp1T7kP ... e=youtu.be

[papafarang]

"We should beware of the demagogues who are willing to declare a trade war against our friends, weakening our economy, our national security, and the entire free world, all while cynically waving the American flag." - Ronald Reagan

https://www.youtube.com/watch?v=Tp1T7kP ... e=youtu.be

"a cheap form of nationalism"

[Lone Star]

The crux of the issue is not just deficits, but more importantly, unequal tariffs and non-tariff barriers. The flow doesn't go both ways.

US Trade figures from the Department of Commerce
China - $636 Billion Traded - Deficit of $375 Billion
Canada - $582 Billion Traded - Deficit of $18 Billion
Mexico - $557 Billion Traded - Deficit of $71 Billion
Japan - $204 Billion Traded - Deficit of $69 Billion
Germany - $171 Billion Traded - Deficit of $65 Billion

The US has asked Canada and the EU to help on the steel production and the over capacity. There has been no significant movement. The US has asked them to help on reciprocity. Still no significant movement.

Example: A US car in Germany has a 10% tariff. A German car in the US only pays a 2.5% tariff. Fair? No. Trump is seeking reciprocal fair trade. There can't be free trade as long as inequities exist that screw the US. Trump isn't going to play that game.

[Lone Star]

"We should beware of the demagogues who are willing to declare a trade war against our friends, weakening our economy, our national security, and the entire free world, all while cynically waving the American flag." - Ronald Reagan

https://www.youtube.com/watch?v=Tp1T7kP ... e=youtu.be

One quote from Reagan in 1988 in a radio address doesn't quite sum up President Reagan's efforts regarding trade.

Suggested Reading: The Reagan Record on Trade: Rhetoric vs Reality
https://object.cato.org/pubs/pas/pa107.pdf

It contains an outline of Reagan's hard line in several instances involving international trade.

[jimjay]

There were INTENDED consequences of the tax cuts.
1. more money in paychecks for American workers,
2. repatriating billions of dollars back to the US
3. more available revenue to invest
4. more expansion in corporate America -- which has translated to more jobs for American workers and the lowest unemployment rate in decades

An added benefit has been that many companies gave generous bonuses to their employees and expanded funding for higher education for their employees.

And now there is an UNINTENDED result of the tax cuts that has been an incentive to companies to increase their contributions in defined-benefit pension plans. That's a BAD THING? 55555 You're hilarious.

I call that EXTRA STEADY WINNING.

Yes they should stick only to the intended benefits. Anything more shows they didn't think this through correctly and will get us all bombed and is grounds for impeachment. That's how it was said when Obama was in.

[Lone Star]

There were 223,000 jobs in May.

The unemployment rate dropped to 3.8%.

Both numbers beat economists' expectations of 190,000 additional nonfarm payrolls, with the unemployment rate holding steady at 3.9 percent.

Black unemployment dropped from 6.6% to 5.9% in one month.

Manufacturing added 18,000 jobs. Construction added 25,000 jobs. Mining added 6,000 jobs. Service providers added 171,000 jobs. Retail added 31,100 jobs.

Average hourly earnings increased 2.7% over the last 12 months.

The increase in jobs coincides with much improved GDP numbers. The numbers were modest at 2.2% in the first quarter. But the Atlanta Fed is predicting a 4.7% GDP quarter.

STEADY WINNING.

[FrazeeDK]

Atlanta Fed on GDP forecast of 4.8%.. https://www.frbatlanta.org/cqer/research/gdpnow.aspx

While Trump can't take full credit for this, he as President pretty much gets the glory or the damnation if the economiy is good or bad...

[tinpeeba]

"We should beware of the demagogues who are willing to declare a trade war against our friends, weakening our economy, our national security, and the entire free world, all while cynically waving the American flag." - Ronald Reagan

https://www.youtube.com/watch?v=Tp1T7kP ... e=youtu.be

One quote from Reagan in 1988 in a radio address doesn't quite sum up President Reagan's efforts regarding trade.

Suggested Reading: The Reagan Record on Trade: Rhetoric vs Reality
https://object.cato.org/pubs/pas/pa107.pdf

It contains an outline of Reagan's hard line in several instances involving international trade.

I agree that one quote doesn't sum up Reagan's actions on trade and as suggested I have read the Cato Institute article by Sheldon L. Richman of the Institute for Humane Studies. Clearly Reagan wasn't always able to live up to the ideas he espoused in his radio broadcast and had to make some exceptions but I believe overall he did what he could to promote free trade.

My suggested reading:

http://www.politifact.com/truth-o-meter ... onist-her/

[tinpeeba]

Example: A US car in Germany has a 10% tariff. A German car in the US only pays a 2.5% tariff. Fair? No. Trump is seeking reciprocal fair trade. There can't be free trade as long as inequities exist that screw the US. Trump isn't going to play that game.

EU Says Trump's Car Tariff Plan Isn't Only Unproductive, It's Also 'Not Based on Facts'
http://fortune.com/2018/03/07/malmstrom ... e-tariffs/

Why American cars don't sell in Germany
https://global.handelsblatt.com/compani ... ffs-917427

German and European carmakers are major investors in the U.S. In 2017, German automakers alone were invested in 265 plants across the country and employed approximately 110,000 American workers.

According to Germany's Association of the Automotive Industry, Germans produced 854,000 vehicles in the U.S. in 2016, a four-fold increase in about seven years. More than 60 percent of those were exported to foreign markets.

[Lone Star]

Quoted from the article.

However, read in its entirety, Reagan’s speech articulates a distinct sense of balance about the merits and drawbacks of free trade.

"I believe that if trade is not fair for all, then trade is free in name only," he said. "I will not stand by and watch American businesses fail because of unfair trading practices abroad. I will not stand by and watch American workers lose their jobs because other nations do not play by the rules."

This is also Trump's view.

[Lone Star]

I can only surmise that Trump doesn't agree with Germany's view -- or there's more to it that isn't reported.

[papafarang]

German and European carmakers are major investors in the U.S. In 2017, German automakers alone were invested in 265 plants across the country and employed approximately 110,000 American workers.

According to Germany's Association of the Automotive Industry, Germans produced 854,000 vehicles in the U.S. in 2016, a four-fold increase in about seven years. More than 60 percent of those were exported to foreign markets.

that's Facts , I can only surmise that lone star and Trump don't accept reality. simply put Europeans think American cars are crap, there are cool American cars. but owning one , no thanks. as said eurotrash don't drive pickups , mustangs are cool, but they're really just for guys that under perform in other ways. in fact you could drop the import tax to zero on American cars and it wouldn't make any difference in sales . so trump is bitching about a 10% tariff on a few thousand cars , really
the three best-selling models in the US are pickup trucks from Ford, Chevrolet and Dodge
As opposed to the car market, the US is staunchly defending American manufacturers in the pickup segment – imported trucks are subject to a 25 percent tax, not the 2.5 percent levy on cars...oooh missed that part out did he, keep up your steady diet of smoke, mirrors and BS. and it is reported , just ignored as an inconvenient truth or put another way "never let the truth get in the way of a good story" the only way America will sell cars in Europe is by building German cars and exporting them to Germany

[vincemunday]

Using American cars as an example won't really work, I rarely agree with PF but on this one I'm 100% with him, some American cars look pretty but I wouldnt want to own one, I've stuck with Japanese (built in Spain) for the last 20 years or so without issue, I'm not much a fan of European Marques either. That said, the US is sitting on a rather huge $800,000,000,000 pa trade deficit, IMO the ball is in Trump's court.

[Lone Star]

EU Says Trump's Car Tariff Plan Isn't Only Unproductive, It's Also 'Not Based on Facts'
http://fortune.com/2018/03/07/malmstrom ... e-tariffs/

Why American cars don't sell in Germany
https://global.handelsblatt.com/compani ... ffs-917427

German and European carmakers are major investors in the U.S. In 2017, German automakers alone were invested in 265 plants across the country and employed approximately 110,000 American workers.

According to Germany's Association of the Automotive Industry, Germans produced 854,000 vehicles in the U.S. in 2016, a four-fold increase in about seven years. More than 60 percent of those were exported to foreign markets.

tinpeeba, I didn't have time before to read everything you provided and absorb it.

This isn't about selling the same NUMBER of cars or even importing and exporting the same number of cars. It isn't even about why Germans or anyone else prefer cars other than those from the US. The only two numbers that matter in all of this is the deficit and the difference in tariffs.

My example was very specific. It is about the disparity in the tariffs. Those are real, and they exist. Whether the US sells one car or 1,000 cars is not the issue, and I don't even care if NONE are sold in Germany. I believe in Free Enterprise. If the product doesn't measure up to the consumer, too damn bad. The product isn't purchased, and the company isn't very successful and/or goes out of business. That's how it works. For that same reason, I am against all government subsidies to private industry or charity; but I digress.

So, it's not about selling the same number of cars. That would be a ridiculous request/demand. It's about balancing the spreadsheet monetarily.

Additionally, my example of the tariff disparity with Germany is just one aspect of all the issues that have created the $65 Billion deficit with Germany -- and deficits with other countries. Those deficits are real, and Trump wants to close them.

As for the German investments in the US, those German businessmen don't invest in the US out of the goodness of their hearts. No business person worth his/her salt would do so. They do it because it is PROFITABLE for them. Regardless of who Germans hire or their international investments in the US or anywhere else, the trade deficit of $65 Billion remains, and Trump wants to close it. I hope Germans and all other foreign nationals investing in something in the US make as much money as they wish.

There have been and continue to be ongoing talks between the US and all trading partners. Those who help close the deficits will get favorable status. That's how it works with a president who puts America first, and that's why Trump said from the outset that he wanted unilateral trade agreements with individual countries.

International trade from a US perspective is supposed to be mutually beneficial to both countries. Right now -- and for a long damn time -- it hasn't been beneficial to the US.

"If trade is not fair for all, then trade is free in name only." - President Ronald Reagan

We'll see how it plays out.

[papafarang]

As stated . 25% tarrifs on imported pick ups . nuff said

[Giggle]

2012 trade deficit with EU $116 billion.
2013 trade deficit with EU $125 billion.
2014 trade deficit with EU $144 billion.
2015 trade deficit with EU $155 billion.
2016 trade deficit with EU $147 billion.
2017 trade deficit with EU $151 billion.

And Junker calls tariffs unacceptable. What a moron.

[tinpeeba]

Quoted from the article.

However, read in its entirety, Reagan’s speech articulates a distinct sense of balance about the merits and drawbacks of free trade.

"I believe that if trade is not fair for all, then trade is free in name only," he said. "I will not stand by and watch American businesses fail because of unfair trading practices abroad. I will not stand by and watch American workers lose their jobs because other nations do not play by the rules."

This is also Trump's view.

Yes but Reagan was careful not to risk starting a trade war to the benefit no-one. The concluding paragraphs of the article:

Reagan's own treasury secretary, James A. Baker, said in 1987 that Reagan "has granted more import relief to U.S. industry than any of his predecessors in more than half a century."

That said, it’s important not to oversell the scope of Reagan’s protectionist moves.

After reviewing data from Reagan’s tenure, Destler has written that the impacts of Reagan’s protectionist policies were "marginal," with the possible exception of the voluntary export restraints on Japanese cars. "On balance, Reagan was a free-trader," Destler told PolitiFact.

Bruce Bartlett, an economist who worked in the Reagan White House, said Reagan "generally pursued free trade policies, but he sometimes made exceptions."

In all, then, Trump was partly right in his invocation of Reagan as a precursor of the policies he would pursue in office.

Reagan did take a number of notable actions that are widely considered protectionist. However, Reagan’s record was more mixed than Trump lets on. In fact, it included strong support for international trade negotiations that ultimately produced the North American Free Trade Agreement and the World Trade Organization -- two international agreements that Trump has sharply criticized.

[My italics]