Posted on Dec 19, 2017
Public opposition to tax bill grows as vote approaches
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Posted 7 y ago
Responses: 27
I personally am opposed to any tax cuts. Right now we actually need to raise taxes across the board. Unfortunately because we have regularly cut taxes since the early 1980's both at the federal and state levels, spent more than anticipated each yea,r and haven't seen the growth in the economy that you need to justify the tax cuts in the first place, we now have infrastructure on life support, our education system is significantly underfunded, we barely fund research and development anymore (which was one of the major driving factors for the US's dramatic growth post WW2), and we continue to worry about ensuring programs such as social security and Medicare/Medicaid stay solvent.
Not that I want to beat up on Kansas but they took tax cuts to the extreme and look a how they now have one of the worst education systems that is severely underfunded. They were once the shining example of road maintenance and management. Now their infrastructure is crumbling.
R&D at universities use to be very well federally funded leading to major technological advances. Now most funding comes from donors and other sources which drives up educational costs to levels where most students must obtain crippling levels of debt.
Social security has a top end caps on contributions which limits the ability of the system to stay solvent. If we really want to make it fair then all income should be taxes at the 6.2% and not have is cap out at around $120,000.
There are no programs that you can cut at the Federal or State level that will generate enough extra money to support what is needed to revitalize our infrastructure, education, R&D, and social security. With these four bedrock programs the US will continue to decay.
Bottom line, I like tax cuts as much as the next person but we are not meeting our responsibilities and not really paying our bills and no matter what tax cuts you put in place you will not have the economic growth that will compensate for those losses. We sadly must raise taxes and pay the bills.
Not that I want to beat up on Kansas but they took tax cuts to the extreme and look a how they now have one of the worst education systems that is severely underfunded. They were once the shining example of road maintenance and management. Now their infrastructure is crumbling.
R&D at universities use to be very well federally funded leading to major technological advances. Now most funding comes from donors and other sources which drives up educational costs to levels where most students must obtain crippling levels of debt.
Social security has a top end caps on contributions which limits the ability of the system to stay solvent. If we really want to make it fair then all income should be taxes at the 6.2% and not have is cap out at around $120,000.
There are no programs that you can cut at the Federal or State level that will generate enough extra money to support what is needed to revitalize our infrastructure, education, R&D, and social security. With these four bedrock programs the US will continue to decay.
Bottom line, I like tax cuts as much as the next person but we are not meeting our responsibilities and not really paying our bills and no matter what tax cuts you put in place you will not have the economic growth that will compensate for those losses. We sadly must raise taxes and pay the bills.
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Reagan's tax cuts at only 18% approval, and then the Country Florist, polls are irrelevant, the only opposition is Democrats with no solution, and the only States unhappy with it are the ones that are going broke because their entitlement programs are out of control
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Lt Col (Join to see)
SPC John Smith - He actually raised taxes 11 times during his presidency, but the overall tax burden decreased, (and the military got a sweet pay raise) ;)
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CW5 Edward "Tate" Jones Jr.
Actually Regan inherited those things interest rates from Carter. In less than Reagan’s first term mortgage interest rates were reduced from 18+% to b low 10 and still falling.
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Interesting that the poll didn't ask about how the tax plan would affect the nation, our economy, jobs, or growth. Most questions were divisive...they divided Americans by income, by state, and even by family. Polls get the answers they seek.
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Susan Foster
Col Joseph Lenertz - Of course I realize the our economic strength is part of our national security strategy. I just happen to disagree with you that lowering corporate taxes necessarily increases the GDP growth rate. I have read the non-partisan studies until my head hurts and I believe they bear this out. It only happens when businesses bring their business back to the U.S., increase wages and expand and modernize, which isn't necessarily what will happen at all (and there are a lot of reasons). In one of the latest surveys, execs were asked: “If passed in its current form, what would be the likely impact of the Tax Cuts and Jobs Act on your capital investment and hiring plans?” Only 8% of the execs said it would make them increase hiring significantly and only 11% said it would increase capital investment. I think history bears out that it lands in them making more, but it doesn't trickle down. I think we will get a little boost in the beginning but it won't last. However, I will say that in this case, I sincerely hope that you are right and I am wrong. I would be glad to be wrong!
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Col Joseph Lenertz
Susan Foster - Thank you for your explanation of why you don't believe lowering corporate taxes will help our economy. You didn't mention if the non-partisan polls asked how many execs would be REDUCING capital investment and hiring due to the lower tax rates, but I bet the answer was very near zero, so they didn't report on it. I am still willing to bet. I bet 2018 GDP growth rate will be 1/2% or more HIGHER than 2017 GDP growth rate, and I am willing to accept the risk of all other GDP-input variables (including but not limited to war on the Korean peninsula) to offer you even odds. Of course, it will be Spring 2019 before 2018 GDP rates are announced, but hey, I'll wait.
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Susan Foster
Col Joseph Lenertz - No, I'm pulling for you to be right!! And I did not look up anything about the likelihood of reducing capital investments, although if a company has already decided to, I'm not sure this would change it. And remember, Congress & the admin has said the economic growth will be big enough to offset the cuts. I don't believe that either. It's a wait and see, but I want YOUR prediction to be correct.
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Susan Foster
Col Joseph Lenertz - I found this and thought you might want to read, if you haven't. https://www.theatlantic.com/business/archive/2017/12/the-7-myths-of-the-gop-tax-bill/547322/
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