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LabMaster

New Tax "Reforms" offering D.C. Benefits

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3 hours ago, HockeyDad said:

So giving people a pay raise (lower taxes) is a bad thing. Sure. In politics. How did the republic survive without an income tax prior to 1913?  It must have been awful. No charity. Nobody giving (since it's not tax deductible why would you). Yeah, I'm not buying it. If there will be any effect it will be that the corps will benefit from more giving. 

The politics of class warfare and envy. And you're buying into it. 

well, the personal stuff has expiration dates, the corporate cuts don't. The higher our debt goes, the more our borrowing costs go, which in the end costs us all.

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10 minutes ago, Jeff Ream said:

well, the personal stuff has expiration dates, the corporate cuts don't. The higher our debt goes, the more our borrowing costs go, which in the end costs us all.

Bingo!

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Does this REALLY belong on a drum corps forum?  I'm seeing only a tenuous connection if any at all.  There is also a lot of spin going on, but nary a CG member in sight. 

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1 hour ago, Jeff Ream said:

well, the personal stuff has expiration dates, the corporate cuts don't. The higher our debt goes, the more our borrowing costs go, which in the end costs us all.

You'll get no argument from me on that. However, when O exploded the debt by 9 trillion when he was in office, I recall no gnashing of teeth on here about it. Does the national debt only take on importance when there's an R in office?  I would cut all federal programs, across the board, by a equal percentage until the budget is balanced. But that's me. I must be mean spirited.

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Please refrain from non-drum corps politically oriented posts. It does go against the forum guidelines.

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3 hours ago, BRASSO said:

They are like political polls (they all tend to be more unreliable than reliable, imo) ...

I'm no psephologist, but I feel comfortable saying that political polls on average are better than most people believe. The average of all the major national political polls for the 2016 election, for instance, was only 1 pt. off from the actual voting results. (Just not in all the right places. The problem was not enough good state polls.)

But again, if you don't trust any predictions at all, how do you decide which course of action will lead to the best results? And to make it specific to this topic: what should drum corps do, if anything, in anticipation of the new law's effects?

Edited by N.E. Brigand

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7 hours ago, garfield said:

If you truly are fiscally conservative, you'll never argue that "trickle down" was a component of the original Stockman design.  Historical fact shows that "Supply-Side" became "Trickle Down" through the art of redirection.  "Supply Side" was deemed too clinically-economic a description.

I'm fond of George H.W. Bush's term: "voodoo economics". :22_stuck_out_tongue_winking_eye:

Maybe a corps could do a show with that title. There have been shows that have incorporated voodoo elements. I'm picturing a hot new drill move called the "Laffer Curve".

(Nice to see you posting again!)

Edited by N.E. Brigand

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30 minutes ago, N.E. Brigand said:

 

But again, if you don't trust any predictions at all, how do you decide which course of action will lead to the best results? And to make it specific to this topic: what should drum corps do, if anything, in anticipation of the new law's effects?

 Well, since this tax law did not seek my counsel before its passage, I don't think I should be required to decide which course of action will lead to the best results, nor the worst results. Without getting too overtly political here now, I suppose thats what elections are for. In due course, the electorate will decide if they like this or not. Throughout US History, theres been both an expansion of current tax law, and repeals of current tax laws.

 As for what Corps should do re. this new tax law, thats not my call either. Thats in their domain. I don't really see this new tax law having much impact at all on Corps, nor their current levels of donation receipts, nor any material change in how they operate fiscally. But thats in the domain of their CPA's,/ Atty's/ Financial Advisors, not any of us here. Thats because not all Corps have the same financial underpinnings, nor operate their major fundraising programs the same. So there really is no " one size, fits all " advice for them here, and as I said, far be it for me or anyone else on here thats unfamiliar with their financials to be offering up any tax advice to any of them, imo.

Edited by BRASSO

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2 minutes ago, BRASSO said:

As for what corps should do re this new tax law, that's not my call either. That's in their domain. I don't really see this new tax law having much impact at all on Corps, nor their current levels of donation receipts, nor any material change in how they operate fiscally. But that's in the domain of their CPAs/attys./financial advisors, not any of us here. That's because not all corps have the same financial underpinnings, nor operate their major fundraising programs the same. So there really is no "one size fits all" advice for them here, and as I said, far be it for me or anyone else on here that's unfamiliar with their financials to be offering up any advice to any of them, imo.

Thanks for this reply. Would it be fair to summarize your position as follows: "Because DCP members know too little about corps finances, there is no point in discussing that subject here"?

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3 hours ago, BRASSO said:

 Good point, imo. And setting aside a " tax deduction issue to Corps donations",  economic recessions naturally can be considered much more impactful to Corps than comparatively small things like a " tax deduction " to a Corps as a motivator for the benovolent Givers to give . The US had a terrible recession in the mid 70's. Gas prices at the pump quadrupled overnite. Interest rates soared to double digits. The Economy went into the tank. Unemployment soared. Stocks plummented, Pension Plan holdings eviserated. The US President at the time lamented his " National malaise " with it all.

 Yet despite this,  DCI increased its attendance at shows during this severe US economic downturn,  increased its numbers of show offerings, and DCI was in an expansion mode, all when rich. middle class, and poor alike tended to have much less discretionary income than before too. So my sense is that this recent tax law will more than likely have little to no effect on Corps nor DCI itself. Those Corps that are successful in financially running their operations will continue to do so, and those that struggle financially ( unless they change their current modus operandi ) will most likely continue to struggle financially, imo.... A " tax deduction for Corps donations"  as a tax law consideration will neither save nor hurt  all these DCI Corps would be my sense. Same as it ever was, imo.

Agree.

 

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