Will Trump take ANY blame for a tanked market?

[Jetnoise]

Sorry, I'm only fluent in English.

A CPA who doesn’t practice or accept GEnerally accepted accounting principals....
Wow make stuff up as you go?

Sponsored

 

[Silver Bullitt]

A CPA who doesn’t practice or accept GEnerally accepted accounting principals....
Wow make stuff up as you go?

So by "gap" you were referring to GAAP? You do realize GAAP has absolutely nothing to do with the tax code, correct? I really couldn't make out much of what you were trying to say. Had you had a couple too many before you typed that reply?

 

[Jetnoise]

So by "gap" you were referring to GAAP? You do realize GAAP has absolutely nothing to do with the tax code, correct? I really couldn't make out much of what you were trying to say. Had you had a couple too many before you typed that reply?

Maybe you pronounce it differently....ye haw
When & where did I say gaap had anything to do with tax code?

 

[Silver Bullitt]

Maybe you pronounce it differently....ye haw
When & where did I say gaap had anything to do with tax code?

We were discussing tax law changes enacted from the passage of the CARES act. Then you posted the following disjointed reply apparently referring to GAAP (calling it gap) in the same sentence with amending tax returns.

Juilliard trained at following money?
Sheesh
I majored in accounting for awhile till I realized it was not my calling ....and so I'm not as fluent in gap as you ....but its pretty obvious to a flunky like me that all Americans aren't afforded to to amend tax returns all the way back to 2013. I'd like to know why not. The average of Those ....Jared, djt, and his buds is well over 2M
Let me guess, you qualified for the 1200 or a calculated version of?
13th month statements have never been more valuable ey'?

To be honest, it's very difficult to follow most of your replays in this and other threads as well, thus my comment about not drinking moonshine while breast feeding, which was probably a poor choice on my part and I apologize for that.

But, I'm still curious about these wonderful tax law changes you seem to know about, and I'm anxious for you to share.

 

[Jetnoise]

We were discussing tax law changes enacted from the passage of the CARES act. Then you posted the following disjointed reply apparently referring to GAAP (calling it gap) in the same sentence with amending tax returns.



To be honest, it's very difficult to follow most of your replays in this and other threads as well, thus my comment about not drinking moonshine while breast feeding, which was probably a poor choice on my part and I apologize for that.

But, I'm still curious about these wonderful tax law changes you seem to know about, and I'm anxious for you to share.

Wonderful tax laws in the cares act...
I’ve mentioned who benefits and who doesn’t
Just following the money trail beneficiaries and who is getting stuck with the bill/debt
It’s Not the same party....

 

[NoVaGT]

So he likes to claim the market when it’s up....that he caused it. But funny thing, now that it’s tanked he’s blaming others...so now why is that? How convieeeeeent! The virus is just the trigger, the huge federal deficit is lurking and the PE ratios are out of whack not to mention bond inversions. Fire away now!!

D.C.........right.

Anyways....

So you believe Trump is responsible for our deficit? For COVID-19?

 

[watisthis]

Trump is responsible for our deficit?

How high was our deficit prior to Covid19? Trump had said he was going to lower our debt or deficit I forget what he said verbatim, however, that couldn't be further from the truth it's almost like Trump will tell any lie that suits him at any moment.

Moreover, if the ratio of debt to GDP of the US gets too wide, then the US will find it hard to be able to repay its debt without issuing even more treasury bonds (China already owns a trillion dollars worth.) The problem is, after a certain point, loaning money to the federal government will stop seeming like a safe investment and more like a risky piece of paper. At this point, the economic consequences are very damaging. People and organizations will continue to lose faith and stop loaning money to the government. This means previous loans could be impossible to pay off which means people and organizations will lose money (this is why the US is loading up on corporate debt.) Potentially catastrophic amounts of money could be lost. The results of this lost money are not so hard to imagine.

This was never really a problem under Obama as he caused large amounts of debt and was able to keep the economy growing (plus he had to restart the economy due to the recession.)

This is why we pay off ours down when the economy is doing well so we do not run into these problems rather than cutting taxes and lowering rates.

The problem with our current policy and the Republicans policy, in general, is that they claim to be the party of fiscal responsibility, but they also are making tax cuts whenever possible. Tax cuts mean the government will have less money and have to take out more in loans in order to function, which adds to the national debt. If they can't find a way to boost growth, they are going to start to find real trouble as they never plan for an economic depression. It is extremely clear that the buck will just get passed down the road combined with the US's reduced global influence thanks to our terrible foreign policy more and more debt will be taken just to pay our existing debt without cutting spending. Any future cuts will be more painful than the ones that could be made today.

And that is the simple version.

For COVID-19?

Obviously, he is not the cause of Covid19, however, it is abundantly clear our leadership, not only at the federal level but at the state level as well, had failed to take proper action. It's too bad we have a figurehead than a leader. https://www.justsecurity.org/69650/timeline-of-the-coronavirus-pandemic-and-u-s-response/

Sponsored