Patterico's Pontifications

Timing is perfect as the new season of Walking Dead scheduled for this week.

VOODOO Econ returning to your neighborhood soon.

Ben burn (b3d5ab) — 10/20/2017 @ 7:46 am

We’ve got every bell and whistle from our beloved political past including precursors to uraniumcake and Drums of War….huzzzzaaaaahhhhh.

Ben burn (b3d5ab) — 10/20/2017 @ 7:48 am

GOP doesn’t seem to be interested in any principles other than holding office. The lack of effective Democrat alternatives is not going to make them more responsible. The more the Democrats focus on identity politics, the less Republicans have to do be elected except stand there and look sane.

Frederick (64d4e1) — 10/20/2017 @ 7:50 am

Draining Swamp? Deep state?

Looks like Neocons are back in charge.

Ben burn (b3d5ab) — 10/20/2017 @ 7:57 am

hopefully they laid the groundwork for serious tax reform what sleazy slicked-up and slimy war hero John McCain can tank cause he’s pissed off and angry that the American people rejected his offer of leadership in 2008 (loser)

happyfeet (28a91b) — 10/20/2017 @ 8:11 am

@happyfeet:hopefully they laid the groundwork for serious tax reform

That would be better perhaps than doing nothing, but tax reform is not really the most pressing problem. Most people, right now, are paying very little in taxes and a significant fraction actually have a negative effective tax rate.

I think in general taxes could be a lot lower, but spending really ought to come first.

Frederick (64d4e1) — 10/20/2017 @ 9:01 am

i think for example the idea where we disallow deductions for state income tax is a wonderful idea what will have tremendous impact

happyfeet (28a91b) — 10/20/2017 @ 9:04 am

and cutting the corporate tax rate can make america do much more prosperity

happyfeet (28a91b) — 10/20/2017 @ 9:08 am

i would like to see many spending cuts too and I think President Trump led the way aggressively in that respect

His budget was a glory and a wonder, and cut many spending.

happyfeet (28a91b) — 10/20/2017 @ 9:09 am

This is what a profezxional budget looks like in greece, 2009.

narciso (d1f714) — 10/20/2017 @ 9:21 am

Over the past decade, the United Kingdom has slashed its corporate tax rate, in several steps, from 30 percent down to 19 percent. At the same time, the United States has kept its corporate tax rate constant at 35 percent. Like the United States, Britain has a large open economy, investors in British firms come from all over the world, and Britain provides a sound legal and regulatory environment.

So what happened to wages after Britain cut corporate taxes? The following chart tells the story. As UK corporate tax rates fell, so did real (inflation-adjusted) median wages. That is, wages moved in the opposite direction from that predicted by the CEA. Meanwhile, in the United States, real median wages crept up — not quickly enough, but at least moving in the right direction. Even if you start the clock in 2013, after the Great Recession, UK wage growth didn’t keep pace with that of the United States.
https://www.vox.com/the-big-idea/2017/10/20/16506256/cea-report-corporate-taxes-wages-boost-job-growth

Ben burn (b3d5ab) — 10/20/2017 @ 9:31 am

Every time I figure you can’t get any better at your job commissar Ben!, you go one better. Now you’re using the corporate rates in Britain and the wages in Britain to push for increases in the corporate tax rate in America. Brilliant! (as our comrades across the pond would say). Get Americans to believe if corporate tax rates go down their wages will automatically take a dive and then they will be all in to raise corporate taxes to say 60-80% in the belief their income will likewise rise. Americans are too stupid to realize corporate taxes are treated as an expense and therefore are figured in to pricing which the consumer, not the corporation pays. Tank Lenin the American education system has been so corrupted by leftism they no longer teach accounting.

Rev.Hoagie® (6bbda7) — 10/20/2017 @ 9:49 am

Facts are hard, Hoagie when opinion, attitudes and beliefs have to make room.

Ben burn (b3d5ab) — 10/20/2017 @ 9:52 am

And I do enjoy spending psychic dollars.

Ben burn (b3d5ab) — 10/20/2017 @ 9:53 am

Headline should be: Senate passes budget. Continuing resolutions based on 8-year-old budgets are waste incarnate.

Kevin M (752a26) — 10/20/2017 @ 10:02 am

Ben thinks everything is a negative-sum game. Probably his experience in life.

Kevin M (752a26) — 10/20/2017 @ 10:21 am

narciso,

Northern Californians looking at the ashes of their homes, Puerto Ricans sitting in the dark and Venezuelans easily counting their ribs due to the Maduro diet are all better current examples than Greece of the true costs of inadequate funding for necessary services due to extraordinarily generous subsidies given to purchase votes. The Puerto Ricans who cheerfully accepted subsidies paid for by deferring necessary maintenance in their government owned power utility are probably the best examples. There should be no hurry whatsoever to fill the Puerto Rican beggars cup. Time should be allowed for the true cost of subsidies to be realized in darkness and silence.

Rick Ballard (6a5693) — 10/20/2017 @ 10:26 am

Greece got like a quarter of a gazillion simoleons from Angela Merkel to spoil the Greeks with. Who’s giving us money?

nk (dbc370) — 10/20/2017 @ 10:49 am

I for one am eager to see a return of the Tea Party to protest this deficit increasing budget.

Davethulhu (fab944) — 10/20/2017 @ 12:00 pm

Ben thinks everything is a negative-sum game. Probably his experience in life.
Kevin M (752a26) — 10/20/2017 @ 10:21 am

LOL!

felipe (b5e0f4) — 10/20/2017 @ 12:01 pm

@Davethulhu:a return of the Tea Party to protest this deficit increasing budget.

TEA = Taxed Enough Already. The movement was not directly concerned by deficits–which are inherently a spending problem.

Frederick (64d4e1) — 10/20/2017 @ 12:14 pm

Thankfully the monthly pretax transit benefit actually got a $5 dollar raise (255 to 266) – that ish would have been gone under anyone but Trump or Christie. Hug an Archie Bunker urban redneck today.

urbanleftbehind (5eecdb) — 10/20/2017 @ 12:57 pm

oh that’s good to know

happyfeet (28a91b) — 10/20/2017 @ 12:59 pm

~I wanna be an uber driver~
~its another kind of deep sea diver~

http://abc7chicago.com/lawsuit-uber-driver-sexually-assaulted-harassed-chicago-woman/2551439/

urbanleftbehind (5eecdb) — 10/20/2017 @ 1:07 pm

@21 Yes, and this is a budget, not a tax plan.

Davethulhu (fab944) — 10/20/2017 @ 1:08 pm

Members of the TEA Party never abandoned their cause, they’er still around – more determined to cut taxes than ever – only now they’re called Trumpers.

ropelight (bbe920) — 10/20/2017 @ 2:03 pm

26.”Members of the TEA Party never abandoned their cause, they’er still around – more determined to cut taxes than ever – only now they’re called Trumpers.”

I know a few Tea Partiers who did not vote for Trump. They (like me) sat this one out.

I’m pretty sure they’d support him on tax cuts but the Tea Party was also about cutting spending. Without both it’s meaningless.

harkin (10a18c) — 10/20/2017 @ 3:46 pm

if you believe poor mccain-raped failmerica’s creditworthiness is rapidly dwindling (which i do) maybe you too will find this comment interesting

it was made in the context of the parlous finances of illinois

Unless used for capital improvements, any new Illinois State borrowing, regardless of security structure, will amount to nothing more than kicking the can further down the road.

the logic of this seems sound on the national level as well

pissing away monies on an incompetent loser-assed military or on healthcare for fat-ass opioid addicts is just kicking the can

but things like a border wall or a shipyard or a port or lng facilities or pipelines or hardening the electric grid

that’s as good a use of borrowed dirty chineser money as you’re gonna find

but not enough discussion is really had around the subject of the quality of the huge ruinous republican deficit as opposed to the quantity of the huge ruinous republican deficit

happyfeet (28a91b) — 10/21/2017 @ 2:07 pm

17. Rick Ballard (6a5693) — 10/20/2017 @ 10:26 am

true costs of inadequate funding for necessary services due to extraordinarily generous subsidies given to purchase votes.

I think it is more often that is campaign help and contributions that are purchased (maybe votes when there is low turnout)

And you get inadequate funding when budgets are cut, because what gets cut is not he unnecssary spending. It’s locked in in various ways.

It may be debt, and stopping the incurring of new debt won’t free up any money for operations.

A lot of that extra spending is higher salaries and pensions for employees, especially at the state and local level.

Sammy Finkelman (20d02d) — 10/24/2017 @ 12:52 pm

10/20/2017

Senate Passes Budget-Busting Budget

29 Responses to “Senate Passes Budget-Busting Budget”

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