tuscl.net
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As a follow-up to the discussion above, I just want to make sure that everyone understands just how much benefit this One Big Beautiful Bill Act will bring to the blue collar laborers in our country.
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One of the least talked about, but perhaps the most momentous, provisions in the OBBBA involve full year one tax deductions for capital investments instead of requiring companies to depreciate them over countless years. This is huge. It will spur companies to make big investments in building plants, R&D, facility and equipment upgrades, etc., etc.
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This will provide broad-based economic stimulus, resulting in many more high paying blue collar jobs. These jobs will often come with health insurance and other benefits, which will naturally reduce our bloated Medicaid roles. In many cases companies will need to provide significant training to fill those positions. All of this will get our under-employed young men and women off their couches and provide them with good paying jobs and lifelong skills. Blue collar wages will rise as all of this happens.
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Other worker-friendly provisions include an extension of tax cuts and higher deductions for lower income folks, energy deregulation (thereby keeping gas and utility prices lower) and school choice provisions (allowing parents to move kids from failing schools).
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Republicans really have become the true champions of the working class. I detest Trump on a personal level as I think he is a glory hound and show boat. But it is hard to argue about his effectiveness in getting good policies passed.
Republicans are the party of the working class
rickduganVerified and Certifiable Super-Reviewer
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last commentI normally avoid political discussion on here like the plague, but I have to know how many more ways they can repackage "We'll give corporations more money and it will get back down to you!" before we stop buying it.
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Rick believes in trickle down feudalism
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^
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@rickdugan - It's all relative but Democrats can't even hide their love to shit on the working class. The green agenda is straight up rich white urbanite luxury beliefs that will increase the price of everything; the left has no empathy for the people affected by them. The end result of years of progressive governance is Baltimore, Chicago, San Francisco, and Detroit.
I'm not feeling the tax cuts though. They didn't reduce the debt even before COVID.
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Only a complete and utter moron would make a comment about giving money to corporations. So, fucking stupid.
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@Puddy: The tax breaks aren't the problem. They more than pay for themselves with increased economic activity, which ultimately results in increased federal and state receipts. No economy has ever taxed its way into prosperity.
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The problem is that Trump still spends too much. Besides immigration it's my number one pet peeve with him from a policy standpoint. Between him and the less courageous Republicans in the House and Senate, the fiscal deficit haws are seriously outgunned.
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So since we have zero realistic chance of either party making serious moves to reign in spending, the only thing that will make our debt more manageable is to grow the economy and federal receipts faster than the federal debt. Hence the need for the tax cuts.
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That was "hawks" not "haws" lol.
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@rickdugan - Other than Rand Paul, I don't see a deficit hawk in DC. The TCJA cuts weren't paired with spending cuts; they need to be. The numbers speak for themselves. We spend more on debt service than defense, and now bond yields are higher. If we get downgraded again, or default, that could become an extinction level event.
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What about TelAviv Cruz? At one point, he wanted to abolish the federal reserve and go back to the gold standard… i dont know where he stands on that now
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