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Why 2018 Q3 GDP Reflects Growth Stolen by the GOP from 2019 -- Vote Accordingly

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The 3.5% 2018 Q3 GDP growth is primarily due to a rise in defense spending and a 4 percent jump in consumer spending resulting higher take-home pays stemming from reduced Federal Withholding Tax (FWT) averaging $1,600. 


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The linked article warns that voters their April 2019 Tax Bills May Catch Some Americans Off Guard, because even though about 65 percent of taxpayers receiving a tax cut in 2018, unless 29% instructed their employer to increase their FTW; they will owe on average $1,600 in April 2019 and 6% will owe an average of $4,400. If you are from New Jersey, Maryland, the District of Columbia, California, and New York you are likely among this six percent.

Increased consumer spending in 2018 that must be paid back, as a withholding short-fall including penalties and interest in April 2019 is GDP growth stolen by the GOP from 2019, vote accordingly.
Read the rest of the story HERE:

At www.bloomberg.com

 

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A seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. He has previously held (more...)
 

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