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re: CNN: Trump cancels pay raises for federal employees

Posted on 8/30/18 at 3:11 pm to
Posted by GatorReb
Dallas GA
Member since Feb 2009
9280 posts
Posted on 8/30/18 at 3:11 pm to
CNN Headline: Racist Trump is taking money out of Blacks and womens pockets by cancelling federal raises to all.
Posted by BBONDS25
Member since Mar 2008
48298 posts
Posted on 8/30/18 at 3:15 pm to
quote:

really sounds like you think this means that revenues weren't lost due to the tax cuts, or maybe even that tax revenues that were hit by the tax cuts are higher than they were for the last tax year at the old rate/base. is that the case with you?



Oh goodie. Got one to bite. I would love to have a tax policy/tax code discussion with you. My answer above is yes, the tax cuts did not negatively impact revenues in the short term and it remains to be seen in the long term (but likely revenues will not be materially affected).

What are your thoughts on it?
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 8/30/18 at 3:44 pm to
quote:

My answer above is yes, the tax cuts did not negatively impact revenues in the short term and it remains to be seen in the long term (but likely revenues will not be materially affected).

What are your thoughts on it?

My answer is that the only comparisons we have with revenues from the pre- and post-TCJA era are corporate and withholdings tax.

Not only are both below where they would be in lieu of the tax cuts, they are in fact BOTH lower than the same period for the prior year.

Corporate thru this July: 166 bil
Corporate thru last July: 233 bil

-> ~29% reduction

Since the withholdings tables changes went in effect in February:
Withholdings this Feb-July: 647 bil
Withholdings last Feb-July: 676 bil

-> ~4% reduction

And this is in an environment of strong growth, where IIT revenues should be growing quickly. In fact, if you compare that last year's withholdings number (feb-jul) to the same period the year before, they saw just shy of an 8% increase. The economy is doing even better this year, but those revenues are down.

And all this is before inflation is factored in.

All numbers from Treasury's fiscal service
Posted by CAD703X
Liberty Island
Member since Jul 2008
78042 posts
Posted on 8/30/18 at 3:49 pm to
quote:

what field are you in?

Considering the way the economy is roaring no way would I stay with a 0 raise and that high on a eval. I’d be at a rival firm in a heart beat.


there were bonuses that kicked in because of how we are doing and other incentives that were much higher than a raise so the company decided to low-ball the raises.

personally i'd rather the year over year gain, but i'm not complaining.
Posted by AustinTigr
Austin, TX
Member since Dec 2004
2937 posts
Posted on 8/30/18 at 3:53 pm to
quote:

Gotta fund those tax cuts for the super wealthy.


Fuuuuck THAT! Federal Workers have it frickin' made in the shade: PENSION, HIGH PAY, EVERY FRICKING HOLIDAY FOR ANY FRICKING REASON.

You are such a sheep. But to be fair, that is the definition of a Lefty.
Posted by texridder
The Woodlands, TX
Member since Oct 2017
14179 posts
Posted on 8/30/18 at 3:53 pm to
quote:

There were several years Obama didn’t give raises (or bonuses) to federal workers.
quote:

Mostly in his first years when federal tax receipts were abysmal.
quote:

I appreciate your concern here. Feel free to give a few extra thousand to the fed this year when you do your taxes.. no one is stopping you.

Assinine non-response to what I posted.

Are you too ignorant to make a reasoned response?

Posted by bmy
Nashville
Member since Oct 2007
48203 posts
Posted on 8/30/18 at 3:59 pm to
quote:


Fuuuuck THAT! Federal Workers have it frickin' made in the shade: PENSION, HIGH PAY, EVERY FRICKING HOLIDAY FOR ANY FRICKING REASON


If you want to see made in the shade you should look at your average service members. E3s making 50-60k a year to do paperwork with no higher education or technical ability
Posted by BBONDS25
Member since Mar 2008
48298 posts
Posted on 8/30/18 at 4:04 pm to
Yikes. That’s a pretty narrow way to look at revenues. You think those two taxes equaling less than 900 billion probe anything about a 3.5 plus trillion total revenue. Good lord. You thought you had a gotcha, didn’t you.

The proposed regs for 199A alone just came out. That is just one section that will drasticallly change things. Let’s talk about that. In your opinion, how do you think the proposed regs will alter what the previous understanding of 199 would be?
Posted by texridder
The Woodlands, TX
Member since Oct 2017
14179 posts
Posted on 8/30/18 at 4:11 pm to
quote:

The proposed regs for 199A alone just came out. That is just one section that will drasticallly change things. Let’s talk about that. In your opinion, how do you think the proposed regs will alter what the previous understanding of 199 would be?

What a stupid dodge.

Why don't you at least try to address the facts he posted?

Every time anyone posts about the tax cuts, you want them to discuss 199A. You must have done some serious google research on that one.

Why don't you try to add to thread discussions, instead of constantly trying to score a useless gotcha?
Posted by BBONDS25
Member since Mar 2008
48298 posts
Posted on 8/30/18 at 4:25 pm to
quote:

Why don't you at least try to address the facts he posted?


You moron. You don’t know what you don’t know. My question about 199 is directly related to corporate taxes.....one of the numbers he cited. What you call a dodge was a direct response.
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 8/30/18 at 4:27 pm to
quote:

Yikes. That’s a pretty narrow way to look at revenues.

What a copout of an answer. That's what the bill hit- corp and personal income. And for the data we have, the impact is pretty clear. Do you have some alternate explanation? Or some evidence that the bill has increased revenues at least of this magnitude elsewhere, as you try to suggest?
quote:

Good lord. You thought you had a gotcha, didn’t you.

No. I think I have a substantive point based on a sound reading of the available evidence.
quote:

In your opinion, how do you think the proposed regs will alter what the previous understanding of 199 would be?

You've asked this before. You tell me how whatever definition in its final form supports anything you've said here.
Posted by notslim99
City of Bossier City
Member since Feb 2005
4531 posts
Posted on 8/30/18 at 4:27 pm to
quote:

The rest of you Feds are overpaid.


I’m an air traffic controller for the FAA. Am I overpaid?


For the record, I’m a conservative but wanted to see if you could expand on your point.
Posted by jstew311
Grant Parish Meth Lab
Member since Dec 2005
853 posts
Posted on 8/30/18 at 4:30 pm to
(no message)
This post was edited on 6/9/20 at 12:42 pm
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 8/30/18 at 4:36 pm to
quote:

My question about 199 is directly related to corporate taxes.....one of the numbers he cited. What you call a dodge was a direct response.

If you have a case to make on how this definition will somehow result in an offset anywhere near the magnitude of the drop we've seen so far, go ahead and spit it out.
Posted by ProjectP2294
South St. Louis city
Member since May 2007
70246 posts
Posted on 8/30/18 at 4:42 pm to
quote:

There were several years Obama didn’t give raises (or bonuses) to federal workers.


What could a government worker possibly be doing to warrant a bonus? They don't produce anything. Their income is generated by taxes and fees (which are mostly bullshite).

If their department runs a "profit" it should be returned to the tax payers or put toward something useful. Under no circumstances should a govt employee get a bonus.
Posted by jstew311
Grant Parish Meth Lab
Member since Dec 2005
853 posts
Posted on 8/30/18 at 4:46 pm to
(no message)
This post was edited on 6/9/20 at 12:42 pm
Posted by BBONDS25
Member since Mar 2008
48298 posts
Posted on 8/30/18 at 4:48 pm to
quote:

If you have a case to make on how this definition will somehow result in an offset anywhere near the magnitude of the drop we've seen so far, go ahead and spit it out.


Businesses that thought that many of their ancillary expenses may be illegible for the 20 percent deduction found out through the proposed regs that is not the case. They also limited the QBI interpretations. Among many other things. You seem somewhat knowledgeable on the subject. These proposed regs have been the hot topic in the tax law world for a month or so. Surprised it wasn’t self evident to you.
Posted by LSUvet72
Member since Sep 2013
11875 posts
Posted on 8/30/18 at 4:50 pm to
BigAppleBucky


Suck on an apple Snowflake....

You are a rotten apple just like your hero Killery Hillary" Rotten" .......
Posted by DemGaters
Member since Apr 2010
440 posts
Posted on 8/30/18 at 4:54 pm to
I don't mind a pay freeze and I certainly don’t mind a merit based pay system for feds like myself. I voted Trump and I fully respect his decisions to manage the budget. I agree that many federal employees aren't worth the paper their checks are printed on, but it is disheartening to see the level of bashing in here without any consideration for the important work that some of us do. I cannot speak specifics, but our small group works very closely with the military and intelligence community to develop technologies that pay cost saving dividends to the DoD many 100s of times our salaries, and that does not include the value of the lives we’ve saved. I personally know and have worked with countless feds that are highly skilled and hard working professionals who could be taking a much larger paycheck in private industry, but choose to stay on because they bleed RW&B and they believe in the mission.

Anyway, enough said. I would just respectfully ask to keep these good people in mind before shitting over all of us as a collective
Posted by 90proofprofessional
Member since Mar 2004
24445 posts
Posted on 8/30/18 at 5:03 pm to
quote:

thought that many of their ancillary expenses may be illegible for the 20 percent deduction found out through the proposed regs that is not the case. They also limited the QBI interpretation

Not seeing an argument here about how this is or will be resulting in a gain somewhere that matches or exceeds the revenue lost.

I'm going to try to work on the strongest argument in the context of this thread that I can think of, from the perspective of what you have suggested here. It sounds like you think that some things that are teetering on falling/not falling under this definition matters a great deal for how effectively this bill will goose the economy bigtime, such that the rate cuts are offset.

So something that these particular businesses in question do must include a particularly effective productivity-enhancing investment. What do you suppose that is, that falls under services & pass-thrus?
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