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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: J_F_Shepard who wrote (1087564)	9/10/2018 7:22:28 PM
From: Thomas A Watson	1 Recommendation Recommended By Bill Read Replies (1) \| Respond to of 1580032

My tax cut was so big, I got me a Dean El Dente SL. It is a work of art. And it let's one fly. strava.com deanbikes.com

To: J_F_Shepard who wrote (1087564)	9/11/2018 5:12:00 PM
From: RetiredNow	Respond to of 1580032

Honestly, I can't remember. I think I got a little bit of a decrease, but it was more than offset by out of control Obamacare increases, as well as inflation across many categories in my annual budget. I do remember that my annual expense budget had to increase 10% for 2018 to keep up with inflation. My portfolio didn't make 10% the previous year, because I'm retired and conservatively invested as I await a correction. So that will eat into principal. Ugh. I think the bigger tax cuts went to people who have lower annual incomes than me. And then the corporations got pretty good tax cuts and a repatriation of cash tax holiday. Interestingly enough, I just read that tax revenues actually increased, even after accounting for the tax cuts. So the economy must be very strong to make up the tax cuts in the short run. Now, my belief is that this is short lived. When the recession comes, it's going to explode our deficits. Already, even though tax revenues increased 1% year over year, deficits are widening alarmingly due to net interest expense, increase in military spending, and social security and medicare spending increases. It's the trifecta that keep blowing out larger and larger. The only thing that is discretionary in there is the military, but Trump feels the need to buy them off, since he has just about every other agency hating on him right now. So I think a year or two from now, we're going to see deficits as large as $1.5 trillion. That's when you'll see the Democrats howl very loudly and they would be right to be outraged at that. I'm already outraged at the $800-900B deficit we're running right now. Those tax cuts (except for the cash repatriation holiday), this late in the cycle were just politics, not what's good for this country in the long run. But I've said it before, there is no such thing as a fiscal or monetary conservative left in this country. I may be the only one left. The people on the right who claim they are fiscal or monetary conservatives are full of shit. The people on the left who are complaining about deficits now are also full of shit, because they are the worst offenders when they are in power, as we just saw after 8 years of Obama. Trump will take the new debt crown from Obama by the time he is done, though. Just watch.