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Joe the Plumber's revenge

folks are mad that they are getting smaller tax refunds.

 

There was talk at the time that the hastily constructed withholding guide tables were a little overly generous and there'd be some regret come January. Of course never mind that they just got the money up front and the net is still modestly positive for most working folks- that's not how they tend to see it.

 

That's why I reference Joe and the GOP faith in economic illiteracy.

 

Would mean, also, I guess, that there's a little less pop left from the cuts as it appears that on balance, people just used the slightly more positive short term circumstances to get further in debt.

 

We certainly didn't see the surge in capital investment that was promised- or repatriation*- just more buybacks and executive bonuses.

 

*always phony baloney. The money was always "here" as much as it was anywhere. And once you've undergone the small expense of doing currency swaps, shifting borrowings back and forth from subsidiaries, there's no real reason to pay any tax, even smaller amounts.