Pic Of The Moment: And Now, The Results Of Trump's Only Significant Legislative "Accomplishment"

[EarlG]

Last edited Tue Apr 30, 2019, 02:18 PM - Edit history (1)

Workers barely benefited from Trump's sweeping tax cut, investigation shows

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[underpants]

1. Math is hard

Trump Just Flunked Another Math Test
If 17x6=1,112, then the president could be right about economic growth.

https://www.bloomberg.com/opinion/articles/2018-06-05/trump-just-flunked-another-math-test

Back in 2006, the radio host Howard Stern gave Donald Trump, his daughter Ivanka and his son Donald Jr. a little on-the-air math test that's worth recalling on a day when Trump is tossing around a curious number.

"You went to the Wharton School of Business?" Stern asked Donald Jr.
Yes said Jr.
“What's 17 times 6?"

What is it? Do you need a calculator?" she inquired, chuckling.

"96?" Donald Jr. asked, taking stabs at answers. "94?"

"Wrong," Stern said. "Wrong!"

It's 1,112," Trump said, pronouncing his answer "eleven-twelve." He nodded confidently toward Stern, missing the correct answer, 102, by 1,010.

[tclambert]

17. Fake Math!

Who knew numbers could be so hard? Nobody knew.

[Gothmog]

2. K&R

[Scurrilous]

3. K&R

[IronLionZion]

4. They did it on purpose

Most of those wealthy assholes knew their stocks would be lifted with buybacks so they've sold high and taken the profits. They do the same thing with dipshit's tariffs and trade deals.

[watoos]

5. Promises made promises kept

Trump now has an infrastructure bill to run on.
4 more years.

[gademocrat7]

6. K&R

A disaster for hard working families. But the top 1% are thrilled.

[Honeycombe8]

7. That $4,000 promise needs to be shouted from the rooftops in the campaign.

I didn't remember that at all. And that surely didn't happen for most Americans.

[Ilsa]

8. K&R. nt

[infullview]

9. Math not correct

If the average paycheck rose by $6.21 the yearly increase is $322 per year. Lysdexic much? I am, so don't feel like you have to respond.

Edit update:My apologies to the OP. This is exactly as quoted in the Guardian. Last time I checked though, 6.21x52=322.92

[EarlG]

10. I didn't do the math myself

I took the data from the Guardian article, but it looks like they made a typo: "In the first three months after the bill passed, the average weekly paycheck rose by $6.21. That would be $233 a year."

https://www.theguardian.com/us-news/2019/apr/30/trump-tax-cut-law-investigation-worker-benefits

$6.21 x 52 is indeed $322 ($322.92). I will correct the graphic.

Update: graphic is corrected.

[DallasNE]

11. FY 2016 Budget Deficit - $534 Billion

The Trump tax cuts started mid-FY 2018 so FY 2019 is the first full year of the Trump tax cuts. FY 2019 is now projected to have a deficit of just over $1 trillion and trend higher in the out years. That projects out to be a 10 year increase of more like $4 trillion than $1.5. And if there is a single recession in that period then it will be even higher than the $4 trillion - perhaps $6 trillion or more. Those numbers are mind boggling.

[Kensan]

14. There is a reason the deficit projections are not linear...

There are several provisions in the tax code that are set to expire. Others have a stagnated phase-out that slowly decreases the tax cost (like the accelerated bonus depreciation rules).

That is why over a 10-year span, the deficit isn’t projected to be $10 trillion. It will definitely be more than the $1.5 trillion, which was how they could use the reconciliation procedures to pass it. The magic of dynamic scoring lets them get away with assuming the tax cuts will cause a massive stimulus to the economy that generates growth of 4% or more. Pure nonsense.

I would guess this bill will ultimately cost somewhere around $2.2-2.5 trillion. That’s far above the $1.5T they tossed around in the press releases. Add the tariff wars and withdrawing from trade agreements to the mix, and Trump is just an economical nightmare. King Midas, if everything he touched turned to shit.

[DallasNE]

15. The Flaw In My Projection

Is that you can't assign all of the deficit problems on the tax cuts. Spending increases, especially in the defense budget, make up a sizable chunk of the deficit increase too. That pretty much makes up the difference between my $4 trillion estimate and your estimate that is correctly limited to the effect of the tax cuts. My bad. But I understand that much of the GOP "magic" comes from gimmicks like dynamic scoring and chained indexing on inflation.

[They_Live]

12. k & r n/t

[Fritz Walter]

13. During my workout this afternoon, I had MSNBC on the elliptical's screen

They were talking about a $1 Trillion plan for infrastructure, and the big question is: where's that money going to come from?

I almost fell off the machine when they mentioned a gasoline tax, which is hardest on working people. Talk about adding insult to injury!


But I shouldn't get too worked up over it. Yertle McConnell is opposed to any spending on roads, rails, etc. that doesn't line his pockets, or those of his donors.

[Yo_Mama_Been_Loggin]

16. Surprise surprise

I'm not

[apkhgp]

18. And the con artist keeps marching on

Until he gets kicked out of OUR White House. With enough humiliation to make him go into hiding.