House Republicans pass tax reform bill | Forex Factory

  • House Republicans pass tax reform bill

    From cnbc.com

    House Republicans on Thursday passed a monumental bill to cut taxes on businesses and individuals, the biggest step yet in the GOP's once-in-a-generation effort to overhaul the American tax system. To pass the bill, the House GOP had to overcome opposition from several of its members who live in high-tax blue states. Those lawmakers objected to the proposal's curb on popular state and local tax deductions. The House plan would permanently chop the corporate tax rate to 20 percent from 35 percent and make other tweaks aiming to make businesses more competitive. It would reduce individual tax brackets to four from ... (full story)

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raklian
Nov 16, 2017 3:13pm
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Quoting Alorente
{quote} Wrong... It is all about growth. Debt is measured by rating agencies as % of GDP. With a higher GDP the % will drop considerably. The dollar will soar if this plan is signed into law.
Wrong. The national debt as a % to the GDP has been growing out of control. That doesn't sound like an healthy debt management by the US government.

US dollar may initially be bullish but will resume its long-term decline as more and more of us realize the debt burden the US government is carrying will be no longer sustainable, especially when the FED is hiking up interest rates.
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raklian
Nov 16, 2017 1:31pm
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Quoting louisfx
oh yeah! here we go king dollar.EU going back down.
You honestly think tax reform will lift the US dollar?

It's clear to me, maybe not to most, the US dollar will either stagnate or break down versus major currencies.

It's all about the deficit and debt. For every interest rate hike, the US dollar goes in the other way.
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clemmo17
Nov 16, 2017 8:30pm
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Pretty much. Although I doubt the rich will invest much in bitcoin. Art, jewels, and real estate haven't lost their luster among the leisured classes.
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diamonddbw
Nov 16, 2017 9:52pm
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Oh Goody! Relief for the Rich....
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Wize
Nov 16, 2017 12:58pm
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As expected, now onto the real battle at the Senate!
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Alorente
Nov 16, 2017 2:09pm
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Quoting raklian
{quote} You honestly think tax reform will lift the US dollar? It's clear to me, maybe not to most, the US dollar will either stagnate or break down versus major currencies. It's all about the deficit and debt. For every interest rate hike, the US dollar goes in the other way.
Wrong... It is all about growth. Debt is measured by rating agencies as % of GDP. With a higher GDP the % will drop considerably. The dollar will soar if this plan is signed into law.
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Not-KPMG
Nov 16, 2017 4:16pm
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Quoting raklian
{quote} You honestly think tax reform will lift the US dollar? It's clear to me, maybe not to most, the US dollar will either stagnate or break down versus major currencies. It's all about the deficit and debt. For every interest rate hike, the US dollar goes in the other way.
US debt is endless joke.
Wait 8th Dec.
Let's see what Trumpy will conjure
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Not-KPMG
Nov 16, 2017 4:20pm
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Quoting Genimi
only a government who doesnt serve people would reject a major tax cut
Hahajahaha
Do you know what the tax cut is???
All big business and rich fatcats will get "bonus money" 15-20%.
They'll invest in bitcoin and robots
The poor will get peanuts 3-5%. And/or pink slip.
Inflation jumps.
Deficit jumps.
Rate goes up.... bankruptcies go up...

One year from today the poor will be....poorer!!!

Don Trumpone helps his buddies make $$$$ and be great again... .
Jo Dirt Poor foots the bill.

As promised!!!! Right???
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Jr123
Nov 16, 2017 1:47pm
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Not seeing any big movement. Guess there is still doubt whether it will be made into law.
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Genimi
Nov 17, 2017 3:06am
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Quoting Not-KPMG
{quote} Hahajahaha Do you know what the tax cut is??? All big business and rich fatcats will get "bonus money" 15-20%. They'll invest in bitcoin and robots The poor will get peanuts 3-5%. And/or pink slip. Inflation jumps. Deficit jumps. Rate goes up.... bankruptcies go up... One year from today the poor will be....poorer!!! Don Trumpone helps his buddies make $$$$ and be great again... . Jo Dirt Poor foots the bill. As promised!!!! Right???

Government is only a money sink . Every dollar the states takes is money out of the economy .

3 or 5 os better than nothing
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louisfx
Nov 16, 2017 1:08pm
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oh yeah! here we go king dollar.EU going back down.
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Zillionaire
Nov 17, 2017 7:58am
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Quoting Jr123
If it wasn't for the rich, we wouldn't know how poor we are.
Well said dear
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Genimi
Nov 16, 2017 1:03pm
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only a government who doesnt serve people would reject a major tax cut
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Centari
Nov 17, 2017 2:49am
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Quoting Not-KPMG
{quote} Hahajahaha Do you know what the tax cut is??? All big business and rich fatcats will get "bonus money" 15-20%. They'll invest in bitcoin and robots The poor will get peanuts 3-5%. And/or pink slip. Inflation jumps. Deficit jumps. Rate goes up.... bankruptcies go up... One year from today the poor will be....poorer!!! Don Trumpone helps his buddies make $$$$ and be great again... . Jo Dirt Poor foots the bill. As promised!!!! Right???
Next step, anarchy!
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Jr123
Nov 16, 2017 10:04pm
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If it wasn't for the rich, we wouldn't know how poor we are.
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sam960
Nov 16, 2017 1:53pm
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so.... what does that mean? is it good for USD??
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