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Unread 2018-01-16, 02:24 PM   #426
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Originally Posted by Scooby24 View Post
so if everyone does it, isn't it just semantics at that point as in practice the net from a bonus is less than were you to get the income by way of a raise?
Yep.

My underlying point was the government is getting a payback and no work is being done for that effort (i.e., bonus out of the goodness of corporate's heart).

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Unread 2018-07-14, 10:55 AM   #427
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I just got my annual performance review. My company's contribution to my flexcomp account was 9.53% of my earnable income this year.

And that's just part of what has tricked down to myself and every single level of the company.


Thanks Trump!!
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Unread 2018-07-14, 12:16 PM   #428
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Its just crumbs. Should have voted for HRC and see whst you would have received.
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Unread 2018-07-18, 02:44 PM   #429
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http://www.crfb.org/press-releases/n...s-have-doubled

Quote:
New White House Report Shows Deficit Projections Have Doubled

The White House Office of Management and Budget released its annual mid-session review Friday, updating deficit projections in its fiscal year 2019 budget request. The report projected deficits will reach $1.085 trillion in FY 2019 under their budget, which is double the $526 billion called for in their FY 2018 budget. The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget:

This past Friday afternoon, the White House released a little-noticed update with a very big trillion-dollar admission: thanks to recent tax cuts and spending hikes, their deficit projections have doubled.

This is a striking acknowledgement following almost two years of claims that economic growth unleashed by these policies will wipe deficits away.

Last time the nation experienced trillion-dollar deficits – during a serious economic downturn, no less – lawmakers took the issue seriously. PAYGO laws were established, a fiscal commission was formed, new discretionary spending caps were implemented, and policymakers entered a multi-year debate on how best to bring down long-term debt levels.

This time around, with the emergence of trillion-dollar deficits during a period of economic strength – when we should be saving for future downturns – few seem to even take notice. On our current course, debt will overtake the size of the entire economy in about a decade, and interest will be the largest government program in three decades or less. This will weaken both our economy and our role in the world.

It is time to end the debt denial and stop sweeping damaging deficits under the rug like they don’t matter. Only real leadership and tough choices will fix this problem.
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Unread 2018-07-24, 03:46 PM   #430
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https://www.newsweek.com/trump-trade...source=Twitter

Quote:
TAXPAYERS WILL PAY FOR $12 BILLION IN AID TO FARMERS TO COVER LOSSES CAUSED BY TRUMP'S TARIFFS

he Trump administration announced Tuesday a $12 billion emergency aid package for farmers caught in the middle of his ongoing and escalating trade wars with China, Europe, Canada and Mexico.

The White House has reportedly been searching for ways to supply farmers with much-needed funding without reneging on their agenda of increased tariffs abroad. They have now settled on pumping money into three programs intended to aid farmers through the Department of Agriculture. One program will provide direct monetary assistance, another will work to purchase and distribute food and a third will promote trade.

Farmers are being hit hard by Trump’s trade war. Corn and soybean crop prices have dropped dramatically since the U.S. began implementing new tariffs on its allies in June. Pork farmers, who typically export pig hoofs and heads to China, have also been hit after China added a 50 percent tariff on the animal parts.

“The Chinese aren’t going to get hurt by this,” said Ken Maschhoff, chairman of The Maschhoffs, the largest family-owned pork producer in the United States, to Reuters. “Chile or Europe or somebody else is going to say, ‘Well, we’ve got a bunch of stomachs or livers or feet that we’re not using...’”

The White House will use a Depression-era program called Commodity Credit Corporation which allows the administration to borrow up to $30 billion from the Treasury Department in order to protect farmers’ incomes without Congressional approval.

President Trump has long extolled increasing tariffs on other countries in order to increase revenue to the United States but has faced increasing retaliatory tariffs from those countries. Still, on Tuesday the president took to Twitter to defend his plans.

“Tariffs are the greatest!” he wrote. “Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs. It’s as simple as that - and everybody’s talking! Remember, we are the 'piggy bank' that’s being robbed. All will be Great!”

Farmers make up a significant part of the president's constituency and play a large role in his optics. In recent months, some elected Republican officials in farmland states have appealed to the president, telling him that the agricultural industry is being rocked and that it might make some impact at the polls in November. They've also made attempts to distance themselves from his trade strategy.

Senator Ron Johnson of Wisconsin said at The Heritage Foundation Tuesday that he’s heard from stakeholders that tariffs “could just totally run out of control” and that the president is “throwing a hand grenade of uncertainty” into the economy. House Speaker Paul Ryan also spoke out against the tariffs. On Tuesday he told reporters that “I’ve made it pretty clear I don’t think tariffs are the right answer.”

Farmers are also unhappy with the proposal. "Rather than accepting retaliatory tariffs and seeking to offset them with federal assistance, America’s producers believe the administration should look toward solutions that will enable them to export their homegrown goods to critical markets around the globe," wrote advocay group Americans for Farmers & Families in a statement.

President Trump has long said he would work to protect farmers. Speaking at the Farm Bureau in Tennessee this January he said, "Oh, are you happy you voted for me,” as farmers applauded. “You are so lucky that I gave you that privilege."

President Trump did not waiver on his trade policy after the bailout, saying that farmers will be the “biggest beneficiary" from his increased tariffs, but that they'd have to "just be a little patient" in order to see them.
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Unread 2018-07-31, 08:53 AM   #431
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https://www.nytimes.com/2018/07/30/u...cuts-rich.html

Quote:
Trump Administration Mulls a Unilateral Tax Cut for the Rich

The Trump administration is considering bypassing Congress to grant a $100 billion tax cut mainly to the wealthy, a legally tenuous maneuver that would cut capital gains taxation and fulfill a long-held ambition of many investors and conservatives.

Steven Mnuchin, the Treasury secretary, said in an interview on the sidelines of the Group of 20 summit meeting in Argentina this month that his department was studying whether it could use its regulatory powers to allow Americans to account for inflation in determining capital gains tax liabilities. The Treasury Department could change the definition of “cost” for calculating capital gains, allowing taxpayers to adjust the initial value of an asset, such as a home or a share of stock, for inflation when it sells.

“If it can’t get done through a legislation process, we will look at what tools at Treasury we have to do it on our own and we’ll consider that,” Mr. Mnuchin said, emphasizing that he had not concluded whether the Treasury Department had the authority to act alone. “We are studying that internally, and we are also studying the economic costs and the impact on growth.”

Currently, capital gains taxes are determined by subtracting the original price of an asset from the price at which it was sold and taxing the difference, usually at 20 percent. If a high earner spent $100,000 on stock in 1980, then sold it for $1 million today, she would owe taxes on $900,000. But if her original purchase price was adjusted for inflation, it would be about $300,000, reducing her taxable “gain” to $700,000. That would save the investor $40,000.

The move would face a near-certain court challenge. It could also reinforce a liberal critique of Republican tax policy at a time when Republicans are struggling to sell middle-class voters on the benefits of the tax cuts that President Trump signed into law late last year.

“At a time when the deficit is out of control, wages are flat and the wealthiest are doing better than ever, to give the top 1 percent another advantage is an outrage and shows the Republicans’ true colors,” said Senator Chuck Schumer of New York, the Democratic leader. “Furthermore, Mr. Mnuchin thinks he can do it on his own, but everyone knows this must be done by legislation.”

Capital gains taxes are overwhelmingly paid by high earners, and they were untouched in the $1.5 trillion tax law that Mr. Trump signed last year. Independent analyses suggest that more than 97 percent of the benefits of indexing capital gains for inflation would go to the top 10 percent of income earners in America. Nearly two-thirds of the benefits would go to the super wealthy — the top 0.1 percent of American income earners.

Making the change by fiat would be a bold use of executive power — one that President George Bush’s administration considered and rejected in 1992, after concluding that the Treasury Department did not have the power to make the change on its own. Larry Kudlow, the chairman of the National Economic Council, has long advocated it.

Conservative advocates for the plan say that even if it is challenged in court, it could still goose the economy by unleashing a wave of asset sales. “No matter what the courts do, you’ll get the main economic benefit the day, the month after Treasury does this,” said Ryan Ellis, a tax lobbyist in Washington and former tax policy director at Americans for Tax Reform.

Liberal tax economists see little benefit in it beyond another boon to the already rich.

“It would just be a very generous addition to the tax cuts they’ve already handed to the very wealthy,” said Alexandra Thornton, senior director of tax policy at the liberal Center for American Progress, “and it would play into the hands of their tax advisers, who would be well positioned to take advantage of the loopholes that were opened by it.”

The decades-long push to change the taxation of investment income has spurred a legal debate over the original meaning of the word “cost” in the Revenue Act of 1918, and over the authority of the Treasury Department to interpret the word in regulations.

“I think we ought to look at not penalizing Americans for inflation,” said Representative Kevin Brady of Texas, the Republican chairman of the Ways and Means Committee, who said he would like to see the Treasury Department make the change through regulation.

Image
“If it can’t get done through a legislation process, we will look at what tools at Treasury we have to do it on our own and we’ll consider that,” said Steven Mnuchin, the Treasury secretary.CreditEric Thayer for The New York Times
Mr. Bush’s Treasury Department determined that redefining “cost” by regulatory fiat would be illegal — a conclusion buttressed by the Justice Department’s Office of Legal Counsel, which found that “cost” means the price that was paid for something.

But conservatives have disputed this conclusion. Pushing Mr. Trump to make the change, Grover Norquist, the president of Americans for Tax Reform, has cited a 2002 Supreme Court decision in a case between Verizon Communications and the Federal Communications Commission that said regulators have leeway in defining “cost” to make the case that the Treasury Department can act alone.

“This would be in terms of its economic impact over the next several years, and long term, similar in size as the last tax cut,” Mr. Norquist said, suggesting that making the change would raise revenue for the government by creating new economic efficiencies and faster growth. “I think it’s going to happen and it’s going to be huge.”

He and others said last year’s tax cut would also pay for itself, but despite strong economic growth, corporate tax receipts have plunged and the deficit has soared.

According to the budget model used by the University of Pennsylvania’s Wharton School of Business, indexing capital gains to inflation would reduce government revenues by $102 billion over a decade, with 86 percent of the benefits going to the top 1 percent. A July report from the Congressional Research Service said that the additional debt incurred by indexing capital gains to inflation would most likely offset any stimulus that the smaller tax burden provided to the economy.

“It is unlikely, however, that a significant, or any, effect on economic growth would occur from a stand-alone indexing proposal,” the report said.

Michael Graetz, a tax law professor at Columbia University who worked in the Treasury Department’s tax policy office when the department determined that taxing capital gains could not be changed by regulation, said he still thought that the decision to change the law should fall to Congress.

He pointed out that the department would have to make decisions about what types of assets would be indexed and that it would essentially be picking winners and losers.

“There’s certainly no legal authority for Treasury to choose what assets to treat this way,” Mr. Graetz said.

Two law professors, Daniel J. Hemel of the University of Chicago and David Kamin of New York University, wrote in a paper last month that states, charities and other entities could sue the Treasury Department if it tried to make the change. Mr. Kamin said in an interview that the change would create opportunities for gaming the tax code, in part because other parts of the code, such as interest payments, would still be unadjusted for inflation.

A framework for a second round of tax cuts, released by the Ways and Means Committee last week, did not address taxation of capital gains. It is highly unlikely that Congress will pass another tax bill this year because of the slim Republican majority in the Senate.

Democratic senators have written to Mr. Mnuchin, urging him to stand down.

“Treasury does not have the unilateral authority to take our tax code and expose it to widespread gamesmanship,” said Senator Ron Wyden of Oregon, the top Democrat on the Finance Committee. “Indexing capital gains under this regime is a boondoggle for the rich, plain and simple.”

A Treasury Department official wrote Mr. Wyden a two-paragraph reply this month. “We appreciate your taking the time to express the thoughts outlined in the letter,” it read. “We will take them under advisement.”
Deliberately giving all of our countries money away which will lead to a financial collapse, stirring up tensions with North Korea, China and Iran, making enemies with our allies and allies with Russia our enemy. Fueling division here in our country and Anti-American sentiment out in the world. MAGA!
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Unread 2018-08-08, 11:13 AM   #432
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http://thehill.com/policy/finance/40...-spending-bill

Quote:
Federal deficit jumps 20 percent after tax cuts, spending bill

The federal deficit jumped 20 percent in the first 10 months of the 2018 fiscal year, the Congressional Budget Office (CBO) reported Wednesday.

Spending outpaced revenue between the beginning of the fiscal year, on Oct. 1, and July by $682 billion, $116 billion more than over the same period in the last fiscal year.

The rising deficit is largely the result of the tax cuts President Trump signed into law at the end of last year, as well as a bipartisan agreement to boost spending, according to CBO.
Tax revenues from individuals rose, even as revenues from corporate taxes dropped.

The Trump administration has argued that the tax cuts would bring down the deficit, as economic growth led to higher tax revenue. The economy did expand in the second quarter by 4.1 percent.

But economists have argued the growth would have to be much larger to reduce the deficit.

The CBO projects that the deficit will reach $793 billion by the end of the year and approach $1 trillion next year. White House estimates have the deficit surpassing $1 trillion in 2019.

Budget watchers have warned that interest payments — the amount the Treasury has to pay just to service the debt — are slated to become the fastest-growing annual expenditure.

The CBO projects that in 30 years, the government will spend more on servicing debt than on Social Security or defense.
And Trump has talked about more tax cuts later this year. It's like he's trying to crash the economy, like I've been saying.
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Unread 2018-08-08, 01:25 PM   #433
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It's a spending problem, not a taxing problem.

Again, where were all the people concerned about the deficit during the previous admin when the deficit doubled.

It's all just liberal media trying to ruin our current president.
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Unread 2018-08-08, 01:47 PM   #434
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Is there even a real human being in there? Or do you just run on a program that repeats itself over and over? If I ever come across someone getting mugged and stolen from, I guess if I didn't say or do anything last time they were attacked, I shouldn't say anything this time right? Just let them get robbed because otherwise someone might be a hypocrite when their real agenda is just to ruin the good reputation of that sweet innocent thief. Do you ever actually listen to yourself and the logic you use? Do you ever try to apply that to Obama and see how you would feel if you were on the other side of the fence? You should try it sometime. You might realize what a colossal hypocrite you are and how little personal responsibility you take for your choices and actions. At least when it comes to politics.
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Unread 2018-08-08, 02:15 PM   #435
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Originally Posted by DIYAutoRepair View Post
It's a spending problem, not a taxing problem.

Again, where were all the people concerned about the deficit during the previous admin when the deficit doubled.

It's all just liberal media trying to ruin our current president.
Shouldn't we solve the spending problem before reducing taxes, then? Or does it make sense to put the cart before the horse, somehow?
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Unread 2018-08-08, 02:34 PM   #436
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Shouldn't we solve the spending problem before reducing taxes, then? Or does it make sense to put the cart before the horse, somehow?
Trump tried but he couldn't get that through congress. He even tried to cut a measly 15B that was extra just sitting in accounts that couldn't be spent, congress wouldn't even cut that.

Even with the tax cuts bringing more money into the government, spending is outpacing the increased revenue.
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Unread 2018-08-08, 02:34 PM   #437
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Shouldn't we solve the spending problem before reducing taxes, then? Or does it make sense to put the cart before the horse, somehow?
Nope, just keep ramping up our defense spending while raping and pillaging everything else, while also giving away even more tax money to the richest people in America. MAGA!

Quote:
Originally Posted by DIYAutoRepair View Post
Trump tried but he couldn't get that through congress. He even tried to cut a measly 15B that was extra just sitting in accounts that couldn't be spent, congress wouldn't even cut that.

Even with the tax cuts bringing more money into the government, spending is outpacing the increased revenue.
Nothing is ever Trump's fault is it? That poor guy. Such bad luck and unfair treatment.
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Unread 2018-08-08, 03:09 PM   #438
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raping and pillaging everything else, while also giving away even more tax money to the richest people in America. MAGA!
That's the problem, nothing was cut, all the social spending was increased as usual.

You need to quit believing everything you hear on the fake news, you might be right once in awhile.

Did you not get a tax cut this year, or did someone else get your crumbs?
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Unread 2018-08-08, 03:27 PM   #439
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Originally Posted by DIYAutoRepair View Post
Trump tried but he couldn't get that through congress. He even tried to cut a measly 15B that was extra just sitting in accounts that couldn't be spent, congress wouldn't even cut that.

Even with the tax cuts bringing more money into the government, spending is outpacing the increased revenue.
I mean its not like Trump's administration specifically requested and Congress passed spending 6x that amount on the best funded military in the world making your comment utterly without value, right?

we're gonna make a SPACE FORCE with lasers n shit!!! pew pew bitches!
Mars 2018, never forget...

the tax cuts are not bringing more money into the gov't than they are costing in revenues. tax cuts do not pay for themselves... its evidently hard for conservatives to hear or understand but its absolutely false that tax cuts increase revenues more than they cost. the Tax Fairy is not real...
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Unread 2018-08-08, 04:25 PM   #440
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the tax cuts are not bringing more money into the gov't than they are costing in revenues. tax cuts do not pay for themselves...
They are and they do.
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Unread 2018-08-08, 08:25 PM   #441
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They are and they do.
still not how math works...
https://www.cbo.gov/publication/53651#section3
Quote:
Deficits Are Projected to Be Larger Than CBO Previously Estimated

The deficit that CBO now estimates for 2018 is $242 billion larger than the one that it projected for that year in June 2017. Accounting for most of that difference is a $194 billion reduction in projected revenues, mainly because the 2017 tax act is expected to reduce collections of individual and corporate income taxes.

For the 2018–2027 period, CBO now projects a cumulative deficit that is $1.6 trillion larger than the $10.1 trillion that the agency anticipated in June. Projected revenues are lower by $1.0 trillion, and projected outlays are higher by $0.5 trillion.

Laws enacted since June 2017—above all, the three mentioned above—are estimated to make deficits $2.7 trillion larger than previously projected between 2018 and 2027, an effect that results from reducing revenues by $1.7 trillion (or 4 percent) and increasing outlays by $1.0 trillion (or 2 percent). The reduction in projected revenues stems primarily from the lower individual income tax rates that the tax act has put in place for much of the period. Projected outlays are higher mostly because the other two pieces of legislation will increase discretionary spending. Those revenue reductions and spending increases would result in larger deficits and thus in higher interest costs than CBO previously projected.

In contrast, revisions to CBO’s economic projections caused the agency to reduce its estimate of the cumulative deficit by $1.0 trillion. Expectations of faster growth in the economy and in wages and corporate profits led to an increase of $1.1 trillion in projected tax receipts from all sources. Other changes had relatively small net effects on the projections.
math doesn't give a shit about your politics or your cult of personality... its just math and economic forecasting.

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Unread 2018-08-08, 08:58 PM   #442
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Read this and learn something then get back to me.

https://www.thebalance.com/current-u...evenue-3305762
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Unread 2018-08-08, 11:23 PM   #443
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Read this and learn something then get back to me.

https://www.thebalance.com/current-u...evenue-3305762
TIL DIY doesn't read his own links
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Revenues would be much higher without the Trump tax plan...
...
Now that the recession is over, those tax cuts should be reversed. Taxes should be increase not cut. An economic expansion is the time to pay off the debt, not add to it....
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Our progress in degeneracy appears to me to be pretty rapid. As a nation, we began by declaring that ”all men are created equal.” We now practically read it “all men are created equal, except negroes” When the Know-Nothings get control, it will read “all men are created equal, except negroes, and foreigners, and Catholics.” When it comes to this I should prefer emigrating to some country where they make no pretence of loving liberty -- to Russia, for instance, where despotism can be taken pure, and without the base alloy of hypocricy. - Lincoln

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Unread 2018-08-09, 01:05 AM   #444
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It's the high taxes that caused the recession through most of Obamas reign. Tax revenues were less his first 4 years than during Bush. It took Obama adding 10T to the deficit to get tax revenues to increase.

Now revenues will increase with the tax cuts while growing GDP.

Notice the Regan tax cuts over his 8 years almost doubled revenues.
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Unread 2018-08-09, 07:22 AM   #445
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You might be good at facilitating others to do their own auto repair but you are an idiot when it comes to economics, full stop (and apparently reading articles about economics)
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Unread 2018-08-09, 02:58 PM   #446
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You might be good at facilitating others to do their own auto repair but you are an idiot when it comes to economics, full stop (and apparently reading articles about economics)
He's not an idiot. He's delusional. There's a difference. His brain doesn't allow him to see things that contradict with his deeply ingrained world view because it would shatter his reality. This is the mind of the typical Trump supporter.
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Unread 2018-08-09, 03:32 PM   #447
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He's delusional. His brain doesn't allow him to see things that contradict with his deeply ingrained world view because it would shatter his reality.
Wait, who are we talking about again?

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Unread 2018-08-09, 06:00 PM   #448
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Wait, who are we talking about again?


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Unread 2018-08-10, 12:40 AM   #449
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Wait, who are we talking about again?

Not the guy who's been predicting everything right from North Korea to Q Anon to China, Russia and North Korea making a fool out of Trump.
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Unread 2018-08-10, 12:45 AM   #450
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Still waiting for Trumps Nobel Peace Prize.
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