Trump signs executive order to promote investment in urban communities

[idestroyedthetoilet]

Yet another Trump campaign promise kept!

 

[Jazzta]

Yet another Trump campaign promise kept!

Has he audited the fed yet?

 

[idestroyedthetoilet]

Has he audited the fed yet?

The Fed gets audited every year.

 

[Jazzta]

The Fed gets audited every year.

I doubt thoroughly enough.

 

[Gameface]

Did you read the article? Its just a spin job to make it seem like its just Trump trying help his friends.

Putting on blast means airing the story over and over. They spun it and put it to bed as quickly possible. Then got back to 24/7 news coverage of Russia. Actually, if you'll notice, the same thing will just happen with Jazzfanz posters and this thread. Including you. You have just a quick negative thought, then dip out.

They did not spin that story. The reporting is accurate.

It is not a story worthy of being on the front page for days on end. I doubt any news organization has been blasting that story.

You are the one doing the spinning.

 

[idestroyedthetoilet]

I doubt thoroughly enough.

There is no audit thorough enough that would satisfy the conspiracy crowd.

 

[Stoked]

There is no audit thorough enough that would satisfy the conspiracy crowd.

While this is certainly true it doesn’t mean that the audits done are sufficient either.

I don’t know enough about this to say if it is or not. I’m just saying it’s not either/or.

 

[Hotdog]

While this is certainly true it doesn’t mean that the audits done are sufficient either.

I don’t know enough about this to say if it is or not. I’m just saying it’s not either/or.

So basically your opinion on the matter is useless. Thanks for clarifying.

 

[Stoked]

So basically your opinion on the matter is useless. Thanks for clarifying.

Yup, on par with yours and everyone else’s. Sorry you didn’t realize that.

 

[idestroyedthetoilet]

While this is certainly true it doesn’t mean that the audits done are sufficient either.

I don’t know enough about this to say if it is or not. I’m just saying it’s not either/or.

And?

 

[Jazzta]

The audits done are far from being sufficient, considering that the federal reserve has been the major culprit for the ever increasing natl debt for decades now.

 

[Jazzta]

Are the existing audits made public? Honest question, I have no effin clue.

 

[idestroyedthetoilet]

The audits done are far from being sufficient, considering that the federal reserve has been the major culprit for the ever increasing natl debt for decades now.

The US Treasury issues debt, not the Fed

 

[Jazzta]

The US Treasury issues debt, not the Fed

I got my **** all wrong I guess. In any event would you agree that it can’t be good that the national debt keeps increasing year after year the way it does? Can debt just be issued with no limits, and no consequences for the taxpayers? Who exactly is the debt owed to? Just trying to wrap my head around the over $20 trillion dollar debt the nation currently has and what it exactly means.

 

[Harambe]

I doubt thoroughly enough.

Pentagon failed it's audit in car wreck fashion*


*- Multi-casualty 33 car pile up

But it's still far more important to give the more money than a host of other pressing matters.

 

[latin jazz]

My initial thoughts on this program.
The good:
1) This tax break will result in increased investment/development to the designated areas.
2) Increased investment will create job opportunities for those in the area.
3) Increased investment will improve the services available in these areas.
4) Increased job opportunities and services will improve desirability of area.

The bad:
1) This tax break seems to be only for capital gains. This means the benefit is only available after selling property, which encourages short-term investing.
2) As desirability of an area increases, the cost of living increases, making it harder on the most economically burdened.
3) It is not clear if this will creates more investment or just shift investment from upper/middle class areas to low income areas. If it does not create more investment it would reduce the living quality of areas investment is shifted away from. Furthermore, if this does not create more investment this tax break will actually reduce the taxes received by the IRS. So, it could be both shifting investment away from the middle class areas, and increasing the relative tax burden on the middle class (since poor don't pay and it gives a break to the rich).

Overall:
1) I expect that this program will benefit low income areas, but that it will be at the expense of the middle class.
2) A more lasting impact would be achieved by providing a tax break on ordinary income to businesses within designated areas.
3) The success of this program is based entirely on which areas qualify. If areas are included that are already attractive for investment there will be no benefit, but there will be lost tax revenue.

This is a solid post.

As an urban planner and economist educated in US/UK, I have a few things to say:

• Agree with most posters that the key is on the details and implementation. While tax breaks may sound appealing, their benefits are not guaranteed and actually, may noy be the most effective way to foster employment creation.
  
• Tax breaks for corporations are expensive and other programs could be more effective in improving the business environment and attracting employment: streamlining administrative procedures and regulations, incentivizing invesment on small-locally owned businesses, skill development programs, infrastructure investment, etc.
• Companies (and their investment) typically choose a location based on availability of workforce, proximity to a market and suppliers, logistics, the business environment, etc. In most cases, tax breaks deplete the tax base rather than foster employment.
  
• Tax breaks may shift investment rather than create more. The case of New-London vs Kelo is a prime example.

Just some food for thought.

 

[idestroyedthetoilet]

I got my **** all wrong I guess. In any event would you agree that it can’t be good that the national debt keeps increasing year after year the way it does? Can debt just be issued with no limits, and no consequences for the taxpayers? Who exactly is the debt owed to? Just trying to wrap my head around the over $20 trillion dollar debt the nation currently has and what it exactly means.

My view on the deficit is "deficits don't matter, until they do". Long post on it later, but basically we are ****ed when our central bank loses control of the ability to control interest rates. They clearly have control over the rates the trillions upon trillions of assets under management make decisions on. If that gets lost, in any country, the currency is in runaway mode. The Fed is our cure, not the problem. We are.

And James, I started out from the exact same line of reasoning you have posted over the years. So while I may be a condescending prick about it at times, I also understand exactly where you are coming from. I found out where I was wrong and talking out my arse.

 

[idestroyedthetoilet]

Are the existing audits made public? Honest question, I have no effin clue.

The audits are from an independent third party. The Fed's books are made public and include a certificate from the auditor. I looked last year's up on google and skimmed it. I was going to post the link for you but cant figure out how to post a pdf link from my phone. It's easy to find googling federal reserve audit 2017. We also have a congressional oversight committee, and the chairman has given testimony to Congress plenty over the years. They are being watched. And one thing to consider, those with big money watch them very closely. So, if you think big money is controlling things, don't you think some lobbying money and influence would do something about a corrupt Fed? They don't all have aligned interests and hell yeah they would. They are business people fighting each other for the highest portion of profits.