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Senior Contributor

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.

12 Replies
Senior Contributor

Re: Joe the Plumber's revenge

This should give these people that voted for him, a real warm and fuzzy feeling inside, don't you think??

 

https://www.huffingtonpost.com/?icid=hjx004

Honored Advisor

Re: Joe the Plumber's revenge

Welp...........it certainly is not the government's job to save money for an individual through a tax refund.  That's the dumbest excuse for a savings account.   

Senior Contributor

Re: Joe the Plumber's revenge

I am not arguing that this is not happening but if you are blaming Trump for this you should read the working paper they are talking about and see what years they covered. And no I did not vote for Trump.

Senior Contributor

Re: Joe the Plumber's revenge

That was not the webpage I intended to post, sorry. This is the one I wanted to post.

 

https://www.huffingtonpost.com/entry/trade-war-record-farm-bankruptcy_us_5c611dcee4b0910c63f251ad?nc...

Senior Contributor

Re: Joe the Plumber's revenge

 

As a board member and member of an association, (which is a record keeping field/farm livestock/farm analysis and tax preparation service

for a price), the number and fall of farm revenue started before President Trump was elected.  Check your states farm economics depts. for

some numbers to satisfy yourself.

Veteran Advisor

Re: Joe the Plumber's revenge

SO   a  genius  M  F  P  taxpayer  funded  plan,  to  help  stumble  through  a  '' easy  win ''  tariff  deal -  IF  SOMEONE   already  KNEW  income  was  falling  -  ?

Senior Contributor

Re: Joe the Plumber's revenge

What are you trying to say/post 289?

 

 

Senior Contributor

Re: Joe the Plumber's revenge

Yes, it really began in 2014 when the $USD broke out of a 30 yr downtrend (I pointed out the significance at the time) and the last of the hot money speculative $billions got squeezed out of the "commodity space*".

 

But anyway, "agriculture"  was the #1 popular lobby for NAFTA and China entry to WTO and there's some long term damage being done that won't ever be repaired.

 

Interesting, though, that there are pundits who think that financial stress to farms is a big thing politically. Well less than 1% of the people in the key states if MI, WI and PA are from farm operating families, heck less than 4% in IA.

 

But I guess that maybe Farmers can be the new pore Coal Miners?

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Senior Contributor

Re: Joe the Plumber's revenge

you might also remember it was some of the agricultural organizations that were promoting the trades...NOT necessarily ALL the farmers, some old

enough to know or remember what can happen, and with poor business skills as far as standing up and taking a real stance, OUR politicians let us

down then, with nothing more than they thought they deserved a feather because of an agreement that was going to take more away from the

American farmer AND businesses with NOT fair practices by the other parties.