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Topic: How many zeros in a trillion?  (Read 470 times)

Tresbn00

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How many zeros in a trillion?
« on: December 02, 2017, 08:23:18 am »
Twelve. There are twelve zeros in a trillion, one point four trillion to be exact, which is the number of deficit dollars the new tax bill will pass to our children/ future generations in ten years. Taxes will be hiked on millions f middle class Americans and swell the ranks of the uninsured by 13 million. There is an upside though: corporations will see their taxes reduced by forty percent, those hiding their offshore profits (guaranteed not to be the poor/middle class or anyone reading this) can repatriate the cash at a rate of seven point five percent, and private jet owners will finally be able to deduct aircraft maintenance (dang-I just sold my jet). The revised bill will allow homeowners to deduct up to $10,000 in State and local property taxes-originally that was not going to be allowed. The bill was approved, in it's entirety, by one party-so much for democracy. Only one in four Americans approve of the bill (hard to believe that something could be more unpopular than the current CEO of America). I am going to pass on getting any more Christmas presents for the kids-I think that the 1.4 Trillion dollar deficit should suffice.

JaniceSW

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Re: How many zeros in a trillion?
« Reply #1 on: December 02, 2017, 09:06:22 am »
I hear you talking.  It seems like the only thing Republicans are concerned about is getting their first legislative win for this administration rather than who this so-called tax cut would ultimately affect.  For instance, although you might keep more of your paycheck in the first few years, some tax benefits would go away for many Americans in the long term.
A few corporations have already stated they would likely pass on their tax savings to their shareholders.  They would also likely pad their CEOs and other high staff with major bonuses.  Why such a large tax cut for corporations?  Why not pass a step-wise decrease in their tax responsibility based on what they do with it, like give raises, bring jobs back to the US, and increase the number of jobs they offer?
And if the economy doesn't boom like the Republicans are stating, who is going to suffer?  How about the middle class and working class individuals who will have programs cut?  How about Seniors who will be paying more for Medicare?What about children receiving benefits from special healthcare programs? I surely hope that the effects of this legislation if it passes goes like the Republicans state, but I am truly concerned.

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