Toddsterpatriot
Diamond Member
The middle class is also paying less taxes. Not more.
LOL! So they're paying less federal income taxes, however they're paying more in state, local, and excise taxes. Kansas just did this very thing because they eliminated taxes for pass-thrus and the resulting deficit nightmare was closed by the state raising sales and excise taxes, which affect the middle class more.
Also, if the middle class tax cut as part of the Bush and Reagan tax cuts were so great, how come household debt spiked each time? That doesn't seem to indicate that the middle and lower classes are paying less...it means they're falling further behind because they have to pay more out-of-pocket for services like health care and education. Again, that is why household debt spiked each time taxes were cut.
There will be growth.
How adorable! Maybe you need to click your ruby red shoes three times, or clap loud enough like you're saving Tinkerbelle.
No there won't be growth, because cutting corporate taxes does nothing for consumers. All it does is make corporations wealthier, though not more successful. Revenues are how you can measure a company's growth, not profits. Why? Because revenues indicate demand. So if your revenues grow, that means there's demand for your product. If your revenues stagnate or decline, that means there's less demand. Cutting the corporate tax rate has no effect on consumer demand. Why? Because consumers see nothing from a corporate tax cut.
BTW - Trump's Q1 2017 GDP growth was a whopping 0.7%, the worst in 3 years. last month, he only created 93,000 jobs, the worst in 2 years. So are you pulling a Brownback where you initially say these policies will work, then you backtrack and say they will work after time? How many times are you going to move the goalposts until you're not even in the stadium anymore?
If Bush left tax rates alone, the Internet Bubble would have gone on until 2010?
The dotcom bubble had nothing to do with income taxes. The dotcom bubble was actually caused by...wait for it...The Capital Gains Tax Cut of 1997. Bush's dumb tax cuts did nothing other than erase a surplus and lose jobs. Oh, and if you are to believe him, were also responsible for Bush's Mortgage Bubble.
You're the one who said tax cuts never increase consumer demand.
They don't, and you have no proof they do. In fact, most evidence shows that tax cuts decrease consumer demand, plunge consumers into debt, and kill jobs. Just like what happened after Bush cut taxes in 2001.
Which ones? What rates in 1981 were higher in 1982 or 1983?
Payroll taxes. And it was done in 1982 because the tax cuts of 1981 blew a hole in the deficit.
As opposed to previous years when they cut spending? LOL!
Unlike tax cuts, government spending is injected into the economy.
Which other Fed rate cuts gave us real GDP growth of over 4% the next 3 years?
None. What did that was increased deficit spending, as the debt tripled and the deficit doubled.
Just look at the cuts in 2007 and 2008. Where was the massive growth after that?
What cuts? There were no tax cuts in 2007 and 2008. That was when the economy was in free fall thanks to the housing bubble caused by Bush's Tax Cuts (If you are to believe Bush).
No there won't be growth, because cutting corporate taxes does nothing for consumers.
Trump wants to cut corporate and individual taxes.
The dotcom bubble had nothing to do with income taxes.
The dotcom bubble didn't create jobs? Are you sure?
Payroll taxes. And it was done in 1982
That's it? Payroll taxes? LOL!
Okay, tell me how much they increased and we'll compare it to how much
income taxes were decreased.