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Orange Blooded [3590]
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TRUMP: We're going to 'cut regulations by 75%'
Jan 23, 2017, 2:39 PM
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http://www.businessinsider.com/trump-cut-regulation-border-tax-imports-2017-1
President Donald Trump said in a meeting with CEOs on Monday that his administration would prioritize tax cuts for corporations and decreasing regulation in its first days.
Trump, speaking with CEOs including Kevin Plank of Under Armour, Elon Musk of Tesla, and Mark Fields of Ford, promised to "cut regulations by 75%, maybe more." Trump said regulations regarding worker safety would be "just as strong" and "just as protective of the people," but that current regulations "make it impossible to get anything built."
He also reiterated a campaign promise to cut corporate taxes — and taxes for the middle class overall.
"We're going to be cutting taxes massively for both the middle class and for companies, and that's massively," Trump said. "We're trying to get it down to anywhere from 15 to 20%, and it's now 35%, but it's probably more 38% than it is 35%."
The current federal corporate tax rate is 35%, and it averages 39% for companies when state taxes are added.
The goal, according to Trump, is to "bring back manufacturing to our country." He said there would be breaks for companies that create products in the US.
"There will be advantages to companies that do indeed make their products here," Trump said.
Trump also said he plans to hold meetings with the CEOs on a quarterly basis or whenever they want to in order to address their concerns.
Liveris (CEO of Dow Chemical) also said that the business leaders were going to come back in 30 days with a plan to help to US manufacturing sector.
The first day in office. I hope it continues.
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Rock Defender [53]
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You're touching yourself right now, aren't you?***
Jan 23, 2017, 2:40 PM
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Orange Blooded [3590]
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It's only liberals that get a thrill up their leg.***
Jan 23, 2017, 2:43 PM
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Rock Defender [53]
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So not only can Trump not lie, just make "noise" but now
Jan 23, 2017, 2:46 PM
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he can't get it up either?
Jhop83® is going to be really disappointed in his "pimp".
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Orange Blooded [3590]
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I have no idea. You are in that swamp.***
Jan 23, 2017, 3:05 PM
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All-In [46825]
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Oculus Spirit [93667]
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All-In [34108]
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What does it mean to cut regulations by 75%?
Jan 23, 2017, 2:45 PM
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Is that referring to the number of words cut from the regulations? Or the number of regulations that would be eliminated? If the latter, is he talking about numbers of sections of the Federal Registry that will be deleted?
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All-TigerNet [12851]
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will you call him a liar if he only gets to 72%?
Jan 23, 2017, 2:52 PM
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because that is what is wrong with america
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Hall of Famer [21573]
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Re: will you call him a liar if he only gets to 72%?
Jan 23, 2017, 3:15 PM
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No what is wrong with America is that 75% is the goal and we are supposed to accept 72% instead of getting 80%.
And I'm not for any of his proposals.
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All-In [34108]
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Lot o points [155901]
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It's like this spooneye, IF that is your real name.
Jan 23, 2017, 5:12 PM
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If you have 4 slices of pie, and you eat 3, you just cut out 75% of the available pie.
hth, and kthnxbye
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All-In [34108]
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+1***
Jan 23, 2017, 5:25 PM
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CU Medallion [50635]
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All-TigerNet [10871]
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Re: so each regulation = a piece of pie
Jan 24, 2017, 9:58 PM
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Nobody said anything about what kind of pie? I may or may not be down depending on the flavor.
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Oculus Spirit [97716]
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All-In [34108]
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If anyone explains what 10% means, it will be unprecedented.
Jan 24, 2017, 4:58 PM
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Regulations don't work like that.
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Oculus Spirit [93667]
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I think it's 100%-25% but I wasn't a math guy.
Jan 24, 2017, 1:54 PM
[ in reply to What does it mean to cut regulations by 75%? ] |
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'We have to pass it to know what's in it.' Pelosi on Obamacare
Actually, we don't know the breath of that but Trump seems to be asking Ford and other manufactures along with Union leaders what they need to promote business growth and jobs for American.
I'm sure it will become evident in the following weeks but I'm with you, I can't wait either.
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All-In [34108]
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You're just saying random stuff.
Jan 24, 2017, 5:00 PM
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The idea of cutting 75% of regulations is utterly ambiguous. Unless someone explains what counts as a single regulation, there's no way to quantify them.
And it's stupid to quantify them to begin with, or to promise to cut a percentage of them.
This entire line of thinking could only appeal to people who (a) don't know how the law works or (b) don't care or (c) both, such as our president.
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Oculus Spirit [93667]
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He signed an order to stop new regulations.
Jan 24, 2017, 10:54 AM
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That alone gives confidence to those who are wondering 'What next.'
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All-In [34108]
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That makes no sense.***
Jan 24, 2017, 5:01 PM
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Orange Blooded [3516]
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Re: TRUMP: We're going to 'cut regulations by 75%'
Jan 24, 2017, 12:42 PM
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Will be interesting to see what he thinks is worthy of being 'cut'. Will probably just get rid of OSHA and be done with it...I mean, I'm sure those pesky OSHA standards get in the way all the time.
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Oculus Spirit [93667]
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I'm hearing it cost $2 trillion/yr to comply with gov regs.
Jan 24, 2017, 1:58 PM
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I doubt OSHA isn a part of this or on the table. Cutting 75% of a @ trillion overhead alone could change the face of our economy. Did I make that sound like it's a bad thing?
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Orange Blooded [3516]
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Re: I'm hearing it cost $2 trillion/yr to comply with gov regs.
Jan 24, 2017, 2:11 PM
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Well, first we have to pretend that anywhere even close to 75% to being doable (which is it very likely not). Being the negotiator that he is I bet he already has a number like 30% in mind, bit others will feel like they won by having him 'come down' from 75%.
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All-TigerNet [14233]
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This border tax is anti-capitalism
Jan 24, 2017, 12:54 PM
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As long as we're all clear on this front.
Get ready for prices of everything to go up.
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Lot o points [155901]
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I don't think anyone doubts that prices will go up.
Jan 24, 2017, 12:56 PM
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The question is of the elasticity of if and how long it takes for wages to rise.
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All-TigerNet [14233]
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I don't think it will.
Jan 24, 2017, 1:00 PM
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These other countries will stop buying American all together.
As demand for American products decrease, profits will fall and wages will go down as more jobs are lost.
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Lot o points [155901]
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One thing is for sure.......
Jan 24, 2017, 1:03 PM
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One of you is right.
However, don't ignore the captive audience of 330M consumers that we have here....there's a lot of homegrown purchasing power without relying on exports.
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Lot o points [155901]
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additionally, we currently have a 40B trade defecit.....
Jan 24, 2017, 1:05 PM
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It's not like our fortunes were dependent on exports.
For the record, I'm not sure how to feel about these moves....I can see arguments from both sides. It's like a gigantic macroeconomics dissertation IRL.
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All-TigerNet [14233]
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History has shown free market capitalism always wins out.***
Jan 24, 2017, 1:09 PM
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Lot o points [155901]
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Agree completely.....but since we're talking about
Jan 24, 2017, 1:41 PM
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imports and exports, are you gonna be able to get China become a free capitalistic society?
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All-TigerNet [14233]
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We've benefited doing business with China.
Jan 24, 2017, 1:47 PM
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and China has benefited as well. The free market has been able to overcome their corrupt government and our inept government for decades.
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Lot o points [155901]
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We have a 40B trade deficit. They have a 40B surplus.
Jan 24, 2017, 1:55 PM
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Who's benefitting? Their home market protectionism and currency manipulation (along with a healthy disregard of worker safety and basic human rights) are exactly why that discrepancy exists.
Think of free market capitalism as a poker game, and everyone is supposed to be playing by the same rules. But all of a sudden, China starts marking some cards and hiding an ace here and there. Problem is, no one can make them stop. So you have an option, keep playing by the rules and getting your azs kicked, or start hiding an ace yourself here and there.
So again, FMC is a wonderful theory and policy, until others ignore you and stack the deck against you At that point, you can either try to convince them to play nice, or do some deck stacking yourself. That's what Trump is trying to do. Whether he's making the right "stacks" or not remains to be seen.
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All-TigerNet [14233]
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China is not actually winning.
Jan 24, 2017, 1:57 PM
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The U.S. debt to them means nothing in the grand scheme of things. They rely on us as much as we rely on them.
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Lot o points [155901]
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What? The US debt means everything to them.
Jan 24, 2017, 1:58 PM
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It should, they own a huge percentage of it.
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All-TigerNet [14233]
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What are they going to do if we don't pay them? Bomb us?
Jan 24, 2017, 2:28 PM
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Cut off exports? We have just as much leverage. Trump knows this and he's going to try and take advantage with his flawed ideas.
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Oculus Spirit [93667]
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Our exports or theirs?
Jan 24, 2017, 2:51 PM
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They cut off our exports when they devalue their currency. An alteration of policy is a win/win for us.
Bomb us, really? The only nuclear option Trump will exercise is the one used to seat a new Supreme Court Justice.
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Orange Blooded [2702]
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Oculus Spirit [93667]
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There's a great difference between 'Make America Great,' and
Jan 24, 2017, 2:45 PM
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nationalism. First it's racist and islamaphobe next came homophobe and sexist with a hint of communist. Now it NAZI. What's next, devil worshiper?
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All-TigerNet [14233]
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Re: There's a great difference between 'Make America Great,' and
Jan 24, 2017, 2:49 PM
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This flat out lying by the Trump team is a bit concerning. Constantly attacking the media is also concerning.
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Oculus Spirit [93667]
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So it's OK if the media has a default negative position...
Jan 24, 2017, 3:25 PM
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on Trump to the point of being spin doctors rather than news reporters? You OK with that? Are we seeing a pattern yet?
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Rock Defender [53]
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Oculus Spirit [93667]
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Since none of the accusations are show to have been...
Jan 24, 2017, 3:23 PM
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substantiated they are propaganda. That was common pretty common of the NAZI party.
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Rock Defender [53]
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But he's got their backs, so all good, right?***
Jan 24, 2017, 3:28 PM
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Oculus Spirit [93667]
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Slightly but let's take a look at this issue more closely.
Jan 24, 2017, 2:12 PM
[ in reply to This border tax is anti-capitalism ] |
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We have none, they have many. That causes the great trade deficit which America suffers. Should we not do something to try and balance this a bit?
Imo, if we drill every oil deposit until we are energy independent we can call it all even. The oil we don't buy on the foreign market will reduce the price of energy over the globe which will lower the value of their products along with the value of ours. Basically, the ratio will perhaps remain the same but the dollar value won't mean as much.
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CU Guru [1813]
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Ok. I just hope it doesn't lead to seeing more of this
Jan 25, 2017, 11:01 AM
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in my backyard as greedy managers in powerful industries and corporations make unethical decisions all for the sake of profit. Only now there will be no regulations or even an EPA to get after them.
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Legend [15492]
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Re: TRUMP: We're going to 'cut regulations by 75%'
Jan 25, 2017, 11:28 AM
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I hear 'cutting regulations' from Repubs a lot. But I can't recall them being able to name a specific one that should be cut.
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Replies: 46
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50
