Understanding US thread-III

Vayutuvan · Post by **Vayutuvan** » 25 Apr 2017 11:51

Gus wrote:
The US President said Mr Xi then explained the history of China and Korea to him.

"After listening for 10 minutes, I realised it's not so easy," Mr Trump said.
oh people are confused alright...like "is this real" kinda confused..

But what do they know. It is all part of this secret deliberate strategy.

Did Trump 'zee mean "Chinese is not easy"?

Yagnasri · Post by **Yagnasri** » 25 Apr 2017 12:05

US will survive but as what is the question. It has huge natural reserves, great human talent pool, no national security at the borders like India or China ( unless you think Canada is going invade the US)

But the financial mess they are in and the grip of financial elite on their economy may see to that they end up as a huge F**ked up society.

Singha · Post by **Singha** » 25 Apr 2017 12:25

US is now 300 mil strong and growing in pop . large scale economic disparities as seen building up since 1970s do create domestic social disturbances and internal security threat. the huge police & agencies needed to keep control of the underclass is a burden the state must pay to keep the lid on things.

nam · Post by **nam** » 25 Apr 2017 13:17

Gus wrote:
The US President said Mr Xi then explained the history of China and Korea to him.

"After listening for 10 minutes, I realised it's not so easy," Mr Trump said.

Modi is probably a much bigger story teller and battle harden politician ....than Mr Xi. Sadly for Pakis & Xi, we do have quite a good manipulator at the helm. Someone should suggest Modi take a copy of the aftermath of 26/11 CST station slaughter when he meet Trump in May...

I wonder if Trump will be the chief guest for 2018 Republic day?

sooraj · Post by **sooraj** » 25 Apr 2017 16:07

How Much Of Trump's 100 Day Action Plan Has He Completed?

Singha · Post by **Singha** » 25 Apr 2017 16:38

https://www.nytimes.com/2017/04/24/busi ... icle-click

Middle Class Contracted in U.S. Over 2 Decades, Study Finds

KJo · Post by **KJo** » 25 Apr 2017 16:49

Bheeshma wrote:The shift has already started in India. Not too worried about it. But I doubt american ability to survive without cheap labor from mexico and cheap goods from china.

A lot of people living in India especially in IT have this false notion that America will collapse without India, Brazil, Mexico etc. It is just a way to make themselves feel important in this whole global economy. Don't worry, Amreeka will be fine. Some things will cost more but it will stabilize in time. I have heard so many people threaten "if Indian workers decide to go on strike, all the banks will be on their knees and financial world will be in disarray".

A_Gupta · Post by **A_Gupta** » 25 Apr 2017 17:19

A good one from David Frum:
https://www.theatlantic.com/politics/ar ... on/524058/

Yet as Day 100 of his presidency nears, President Donald Trump can take credit for one huge accomplishment, an accomplishment more central to his election campaign than any of the unfulfilled pledges above. Illegal immigration into the United States has slowed dramatically. The Department of Homeland Security reports that illegal crossings across the southern border plunged 40 percent in the first month of the Trump presidency, the steepest decline in illegal migration since the recession of 2009. Illegal immigration by family groups with children has dropped by over 90 percent.

This accomplishment may or may not prove enduring. It was not brought about by any decisive policy change. Trump’s wall is not funded. No new enforcement measures have been put in place. People eligible for President Obama’s delayed action continue to receive work authorization. While arrests of illegal aliens inside the country have accelerated under Trump, actual deportations are running at a slower pace than in the first quarter of 2016. Orders to ban travel from some Muslim-majority countries were widely publicized, but quickly halted by the courts—and in any case, do not seem very relevant to overwhelmingly Catholic Latin America.

If rude words by the head of government, an inconsistent uptick in interior enforcement, plus a travel ban that flunked judicial review, suffice to cut illegal migration flows by 60 to 90 percent, then the policies and attitudes of the receiving countries begin to look powerful indeed.

Gus · Post by **Gus** » 25 Apr 2017 17:46

Singha wrote: some sections within india who are deeply into running off to the US quickly by any means possible will be in deep disarray

They'll still game it. salary index changes per state. they'll file from one state where 80K is top tier and then have them work at another state like CA where that is low wages.

KJo · Post by **KJo** » 25 Apr 2017 17:50

Gus wrote:
Singha wrote: some sections within india who are deeply into running off to the US quickly by any means possible will be in deep disarray
They'll still game it. salary index changes per state. they'll file from one state where 80K is top tier and then have them work at another state like CA where that is low wages.

I'm not sure simplistic loopholes like this will be possible after a new law comes in. Trump has made this one of his promises, so I think he will make sure it is reasonable airtight and not an eyewash.
But I do think some Indian companies will still try to scam the system as that is how many do business. They need to be strongly penalized.

Gus · Post by **Gus** » 25 Apr 2017 18:35

That scamming is already happening. People don't report earning in other states and get a pass on multi-state tax, while staying in state-income tax free states.

I find your confidence that this administration is capable of making such sound policies with good enforcement mechanisms etc and getting it passed as misplaced or some sort of wishful thinking for your favorite topic of 'uppity indians have it coming'

mean-e-while, in the real world..the dealmaker-in-chief

https://www.washingtonpost.com/news/the ... bc3e4176f5

The wall, of course, was the biggest applause line for Trump throughout his campaign — often taking the form of a call-and-response with his approving crowds. And given how divisive it is, inserting it into must-pass legislation like a government funding bill seemed to be the best way to get what Trump wants.

That's what the White House tried. Office of Management and Budget Chairman Mick Mulvaney said last week that any government-funding bill must include funding for the border wall. Throughout the weekend, top White House aides including Mulvaney suggested Trump might veto a spending bill that doesn't fund his border wall. Chief of Staff Reince Priebus told The Post on Sunday that Trump's insistence on that point remained strong.

Fast forward a little more than 24 hours, and Trump apparently abandoned that demand. With still four days to go in the funding battle, he showed his hard-line stance wasn't so hard-line, after all. Basically, he had his bluff called — again.

He took what is likely his best chance at getting funding for something he promised to voters dozens upon dozens of times, and he didn't even bring it close to the finish line to make Democrats sweat. Indeed, the likelihood that Congress is going to agree to fund the wall at a later date seems considerably less than it would be this week. Trump has essentially taken his wall and turned it into a metaphorical wall — substituting increased enforcement — rather than a brick-and-mortar one.

This kind of bluffing and having it called is undoubtedly something Trump is used to in the business and real estate worlds. But in the political world, you are negotiating with the same people over and over again. And the lesson of the first two big congressional debates is that when Trump says a bill must contain XYZ, he doesn't really mean it; it's just posturing. And that doesn't bode well for future Trump demands.

Singha · Post by **Singha** » 25 Apr 2017 21:47

Nyt

WASHINGTON — President Trump has instructed his advisers to make cutting the corporate tax rate to 15 percent a centerpiece of his tax-cut blueprint to be unveiled this week, according to people with knowledge of his plans, even if that means a significant reduction in revenue that could jettison his campaign promise to curb deficits.

^^he wants to bring back the billions stashed abroad by American cos in ireland et al

Lalmohan · Post by **Lalmohan** » 25 Apr 2017 22:10

chaffetz confirms that flynn took money from russia that he did not disclose
meanwhile stories coming out that there is serious kompromat on chaffetz
and he is resigning his seat...

here we go round round round - round... here we go round round round - round...

Gus · Post by **Gus** » 25 Apr 2017 22:31

Singha wrote: ^^he wants to bring back the billions stashed abroad by American cos in ireland et al

I would modify that as - he says he wants to bring back the billions stashed abroad by American cos in ireland et al

what he'll do about it is another thing

and whether that will work is another thing.

Right now, companies do that double irish dutch sandwich thingies that reduce rates to low single digits

http://www.washingtonpost.com/wp-dyn/co ... 04613.html

Google's income shifting helped reduce its overseas tax rate to 2.4 percent, the lowest of the top five U.S. technology companies by market capitalization

ombaba tried to tackle it and failed

https://en.wikipedia.org/wiki/Double_Irish_arrangement

Counter-measures
In 2010, the Obama administration was said to propose to tax excessive profits of offshore subsidiaries to curb tax avoidance in the United States.[9] A 2010 Irish law brought Irish transfer pricing rules into line with most of its trading partners requiring companies' intra-group transfer prices to be similar to those that would be charged to (or from) independent entities. The first deadline for corporate tax submissions under the new rules was September 2012.[3] However, companies such as Google, Oracle and FedEx are declaring fewer of their ongoing offshore subsidiaries in their public financial filings, which has the effect of reducing visibility of entities declared in known tax havens.[10]

In 2014, the Irish government announced that companies would no longer be able to incorporate in Ireland without also being tax resident there, a measure intended to counter arrangements similar to the double Irish.[4] Irish Finance Minister Michael Noonan addressed the "Double Irish" during the presentation of his 2015 budget. Under the new rules, companies not already operating in the country may not pursue the “Double Irish” scheme as of January 2015; those already engaging in the tax avoidance scheme have a five-year window until 2020 to find another arrangement.[11]

Under Finance Act 2015, a new system has been introduced whereby innovative companies who choose to incorporate in Ireland can now benefit from the introduction of the Knowledge Development Box (the “KDB”) in Ireland, the scheme is seen as a replacement for the “double-Irish” tax system which was recently closed. An effective tax rate of 6.25% can be obtained on qualifying profits generated in periods commencing on or after 1 January 2016.

This will be much harder to tackle..just saying so does not make it so.

Even the intent is suspect here, what with the administration basically being a billionaires club.

Mort Walker · Post by **Mort Walker** » 25 Apr 2017 22:32

Gus wrote:That scamming is already happening. People don't report earning in other states and get a pass on multi-state tax, while staying in state-income tax free states.

I find your confidence that this administration is capable of making such sound policies with good enforcement mechanisms etc and getting it passed as misplaced or some sort of wishful thinking for your favorite topic of 'uppity indians have it coming' <snip>

You should know by now that laws are passed by congress and the executive branch enforces the law. The president's administration can promise and promote legislation, but it ends there as final details are up to congress to decide.

The details of H-1B reform has not been made as no legislation has been signed. I would trust the administration to be less nasty toward Indian companies than congress.

Gus · Post by **Gus** » 25 Apr 2017 22:36

Mort Walker wrote:You should know by now that laws are passed by congress and the executive branch enforces the law. The president's administration can promise and promote legislation, but it ends there as final details are up to congress to decide. .

WOW...really? Never knew that.

First we have to tell all the people to stop calling ACA as obamacare.

It is CONGRESSCARE.

Mort Walker · Post by **Mort Walker** » 25 Apr 2017 23:10

^^^You and others need to get over the election. The democrats need to move past the Trump hatred or they will not get a majority in either house and lose in 2020.

Lalmohan · Post by **Lalmohan** » 26 Apr 2017 00:56

not to worry there will be another one soon

Rudradev · Post by **Rudradev** » 26 Apr 2017 03:19

Mort Walker wrote: The democrats need to move past the Trump hatred or they will not get a majority in either house and lose in 2020.

Why? Trump is EXACTLY the one-point agenda that is getting the democrats energized and keeping them united. Without him they would be in as much disarray as the republicans... Hillary and Bernie are as far apart as any two of Kasich/Cruz/Rubio/Trump/Bush/Paul.

UlanBatori · Post by **UlanBatori** » 26 Apr 2017 06:49

Mexico gets $163M to donate to Trump Wall

Mort Walker · Post by **Mort Walker** » 26 Apr 2017 10:28

Rudradev wrote:
Mort Walker wrote: The democrats need to move past the Trump hatred or they will not get a majority in either house and lose in 2020.
Why? Trump is EXACTLY the one-point agenda that is getting the democrats energized and keeping them united. Without him they would be in as much disarray as the republicans... Hillary and Bernie are as far apart as any two of Kasich/Cruz/Rubio/Trump/Bush/Paul.

In 8+ years the Republicans have forgotten how to govern, and the one-point anti-Trump agenda will only help Trump get re-elected as the opposition will be to him personally and not one of opposition to Republican party ideas. It's too easy for Trump to do an end run around any Democratic opponent. Trump is not about firm ideological ideas like the EJ Republicans such as Cruz or Sessions, as he'll throw them under the bus to get re-elected, because it's all about Trump looking good. We've already seen him flip-flop with China, now I carefully watch how he will react to the relationship with India.

UlanBatori · Post by **UlanBatori** » 27 Apr 2017 08:42

Yippeeee! Time for Ulan Bator Megacorp Ltd to start showing profits for the first time in 24 years. US corporate tax rates to be slashed from 35 to 15%, personal brackets cut from 7 to 3, most itemized deductions gone, personal deductions increased. No state taxes.

saip · Post by **saip** » 27 Apr 2017 09:07

^^No state tax deductions. That means TAX INCREASE for those in CA and NY.

saip · Post by **saip** » 27 Apr 2017 09:10

Also my Mortgage is fully paid for, no interest deduction and just stuck with 24k standard deduction which is way below my itemized deduction now. Trump and co makes out like thieves that they are.

Yagnasri · Post by **Yagnasri** » 27 Apr 2017 09:11

The effective tax I am told is only 17% and even then it is a good tax cut. In India, we are looking at 25% with most of the exceptions gone.

Singha · Post by **Singha** » 27 Apr 2017 11:59

AMT going should please SV dual income high income families.

A_Gupta · Post by **A_Gupta** » 27 Apr 2017 17:13

Quote: The Senate has confirmed 26 of Trump’s picks for his Cabinet and other top posts. But for 530 other vacant senior-level jobs requiring Senate confirmation, the president has advanced just 37 nominees, according to data tracked by The Washington Post and the nonpartisan Partnership for Public Service’s Center for Presidential Transition.

Singha · Post by **Singha** » 27 Apr 2017 17:25

what can be do if the Dems create a spectacle for each nomination? better to keep them vacant and multitask.

brar_w · Post by **brar_w** » 27 Apr 2017 17:31

Most of those vacant posts won't see a big spectacle because they aren't as high profile as cabinet secretaries. A lot if not most of those that remain are critical but pretty low key and won't even get much media attention. On the Pentagon side of things his SecAF just got through the committee 22-5 and will get through the full senate without much spectacle, and likely Army, Navy and other undersecretaries will go through a similar process.

Problem is that he has to find and vet them fast enough and make sure those he does find don't later decide to walk away like the Army and Navy candidates did. Same for the posts in other departments. Partisanship in DC is nothing new and both Bush and BO had to overcome it while selecting and getting their nominees through. The GOP has the majority in the Senate.

Gus · Post by **Gus** » 27 Apr 2017 17:45

saip wrote:Also my Mortgage is fully paid for, no interest deduction and just stuck with 24k standard deduction which is way below my itemized deduction now. Trump and co makes out like thieves that they are.

well, it has to pass first. a very light document with no details will go nowhere other than some buzz for few news cycles.

It will run its course and end with a "who knew tax reform was so complex"...

Gus · Post by **Gus** » 27 Apr 2017 17:50

It will be useful for a kejriwal-esque wailing of "they are not letting me work"...as a general excuse for not getting anything done..will be quite useful sticks to beat some people with in tweets and rallies.

brar_w · Post by **brar_w** » 27 Apr 2017 17:51

You don't get serious about these things until they end up in the Senate because there the majority is slim and you have quite a few GOP senators that could align either way on many of those issues. Same with the Healthcare bill..It would be interesting to see if the Freedom Caucus go along with the Tax bill before the Healthcare bill passes since ideologically they are going to have to justify the former with the cost savings from the latter. Some may not even want to get their vote on the record until the healthcare bill passes because whats the point.

Gus · Post by **Gus** » 27 Apr 2017 18:06

The one thing I have understood is - US is a very flawed democracy..the whole checks and balances touted as some amazing american invention to run a great democracy that Indians and the world should learn from (you can still hear these arguments put forth in Indian press whenever somebody wants to beat on Modi)

gerrymandering, voter suppression etc and ability to keep getting elected in congress for decades even when congress has <20% approval ratings - and because of a presidential system, the congress is not tied to president and can run agendas of its own - even the party members are not bound to a whip right? Speaker of the house being undermined by own members..and there is the Senate shenanigans on top of this with their 6 year cycles and filibusters and their own agendas. This makes sure that nothing can get passed until everybody buys in - and that ends up diluting most bills and ensure no major reform can ever happen. And on top of that, the possibility of a president with unclear mandate because of electoral college victory and losing popular vote even by millions.

screw that. Better to have independent election system to elect a govt with full power to act on its mandate and people can throw them all out in next election if mandate not delivered.

UlanBatori · Post by **UlanBatori** » 27 Apr 2017 18:44

Hope the Real estate tax deduction is still alive - at least for home property tax. Can't see DT Inc cutting that....

LokeshC · Post by **LokeshC** » 27 Apr 2017 22:37

Gus,

+1001. The only change in the US occurs through some form of direct or indirect mass violence. Otherwise its just a country sabotaged by large corporations. Very EIC like.

ramana · Post by **ramana** » 27 Apr 2017 23:26

saip wrote:^^No state tax deductions. That means TAX INCREASE for those in CA and NY.

Trump knows who to hit.

ramana · Post by **ramana** » 28 Apr 2017 01:00

UlanBatori wrote:Hope the Real estate tax deduction is still alive - at least for home property tax. Can't see DT Inc cutting that....

This one is gone along with State & Local income tax deduction.
Mostly Ca and NY and other states with this will be effected.
Will lead to tax revolts eventually there.

Only Mortgage Interest and Charitable deductions allowed

Yayavar · Post by **Yayavar** » 28 Apr 2017 01:28

'gone' is presuming too much. It has to go through the house and senate .. n'est-ce pa?

ramana · Post by **ramana** » 28 Apr 2017 01:41

In the proposal. Who knows what the final is?

Anyway the plan is to go through "reconciliation" process that involves the Republican votes only.

UlanBatori · Post by **UlanBatori** » 28 Apr 2017 01:53

This is going to have interesting implications for hi-value home sales. U get the same tax break whether you pay $20K in real estate tax or not.
Ha! No complaint from Les Miserables Yak-Herders. I mistook "no State Taxes" for NO STATE TAXATION, not "Pay State Tax but Dont' Get Deduction"

I don't know where I heard, but there is also a plan to slash IRS staff by a huge factor and outsource tax collection to Guido's DHS Collections, Cement Barrels and Baseball Practice Inc. Form 1040 is approaching the ideal of Elephant Tax Simplification: 1040EZZZZZ:

1. How much did u make?
2 Send it in: