Why did the corporate tax cuts fail?

[Flash]

Asshole ignorant Libtards are too stupid to know that the corporations are the entities that drive economic prosperity that generates the wealth that funds their filthy ass welfare state.

 

[Norman]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

It did not fail. We just need to cut the deadweight that people like you benefit from at the expense of everyone else.

Longest economic expansion ever.

 

[Flash]

No more income tax and and no more corporate tax. Both are immoral and fund this bloated oppressive Federal government excesses.

 

[August West]

Fail?....look at the unemployment rate dumbass.....

The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?

 

[colfax_m]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

How did the tax cuts “fail”?
You realize your fellow citizen Americans own these evil corporations you hate...right?
Your fellow Americans ended with more and your corrupt government ended up with less...how is that a bad thing?
Why would you want your government to take more from your neighbor?

Some Americans own stock. About 50% of Americans have no investment in the market so right off the bat, half the country is excluded from this benefit. Of the people that do one stock, 84% of it is owned by the top 10% of Americans.

So this benefit was highly skewed.

 

[Brain357]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

It didn't fail. There were a lot of capital expenditures with the windfall. It was just implemented inefficiently.

The problem is that it wasn't targeted. A lot of the money went to stock buybacks and other internal spends. Since we don't like to do anything more than simplistic band aids to please the bases, we didn't provide guardrails for the cuts. So the corporations just did what they're chartered to do as fiduciaries: Act in the best (usually short-term) interests of their stockholders.

The Trumpsters don't drill down more than about half an inch on anything, so they don't understand that part. And the left wingers will only look at the the inefficiencies and ignore the extra capital expenditures.

Just another good example of why we so desperately need to find a way to stop the nutters from controlling the conversation.
.

I'm looking at it failing based on what trump promised. He said they would pay for themselves and increase gdp growth to 4-6%. I'm not following how you are saying it wasn't a failure? The opposite happened of what was claimed. I'm pretty confident without them the economy would be pretty much the same, but deficits would be much smaller. It seems to have been just a huge handout to the rich.

 

[Brain357]

Stupid Moon Bats, who don't know anymore about Economics as they do History, Climate Science, Biology, Ethics, Ethics or the Constitution, are too ignorant to know that corporations don't really pay taxes. All they do is pass along the tax revenue from the consumers of the corporate good and services to the government.

When the filthy Liberals raise corporate taxes they are taxing the Americans that buy the goods and services made by the corporations.

So like raising tariffs?

Trump seems to not understand the economy, he promised they would pay for themselves and increase growth. The opposite has happened.

 

[Brain357]

No more income tax and and no more corporate tax. Both are immoral and fund this bloated oppressive Federal government excesses.

Like a true republican you just want to put everything on the credit card....

 

[Mac1958]

View attachment 304667

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

Corporations didn’t need the cash. Tax cuts work if corporations need capital to pay for equipment or expansion. Corporations have awash with cash since W was in office. Profits from offshoring production.

A capitalist economy exists on supply and demand. There is a lot of pent up demand due to stagnant wages and a shrinking middle class. But not cash amongst workers and middle class to act on it.

Thank you for actually giving an answer to the question. I think it's definitely on the right track. With so many of our corporations being near monopolies I think they already had tons of cash.

Do you even know what a corporation is?

Waiting for you to explain why a huge tax cut for corporations lead to decreased gdp growth.

Interesting.

It took me about six seconds to do a Google search on this guy, and I got several photos of him. Please see below.

The guy in your photo is clearly not him.

Do you care? Does this matter at all to you? Does it even REGISTER in your mind?

By the way, those are VERY serious questions, but I'm not expecting an honest answer.
.

Your photo:

 

[Mac1958]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

It didn't fail. There were a lot of capital expenditures with the windfall. It was just implemented inefficiently.

The problem is that it wasn't targeted. A lot of the money went to stock buybacks and other internal spends. Since we don't like to do anything more than simplistic band aids to please the bases, we didn't provide guardrails for the cuts. So the corporations just did what they're chartered to do as fiduciaries: Act in the best (usually short-term) interests of their stockholders.

The Trumpsters don't drill down more than about half an inch on anything, so they don't understand that part. And the left wingers will only look at the the inefficiencies and ignore the extra capital expenditures.

Just another good example of why we so desperately need to find a way to stop the nutters from controlling the conversation.
.

I'm looking at it failing based on what trump promised. He said they would pay for themselves and increase gdp growth to 4-6%. I'm not following how you are saying it wasn't a failure? The opposite happened of what was claimed. I'm pretty confident without them the economy would be pretty much the same, but deficits would be much smaller. It seems to have been just a huge handout to the rich.

Oh, the Trumpsters don't give two shits about that. He's gone hyper-Keynesian, something they would have attacked with both barrels just four years ago, and they don't care.

All they know is what they are provided in their little universe. What I said above will not enter that universe.
.

 

[CrusaderFrank]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

wut??

 

[Brain357]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

It didn't fail. There were a lot of capital expenditures with the windfall. It was just implemented inefficiently.

The problem is that it wasn't targeted. A lot of the money went to stock buybacks and other internal spends. Since we don't like to do anything more than simplistic band aids to please the bases, we didn't provide guardrails for the cuts. So the corporations just did what they're chartered to do as fiduciaries: Act in the best (usually short-term) interests of their stockholders.

The Trumpsters don't drill down more than about half an inch on anything, so they don't understand that part. And the left wingers will only look at the the inefficiencies and ignore the extra capital expenditures.

Just another good example of why we so desperately need to find a way to stop the nutters from controlling the conversation.
.

I'm looking at it failing based on what trump promised. He said they would pay for themselves and increase gdp growth to 4-6%. I'm not following how you are saying it wasn't a failure? The opposite happened of what was claimed. I'm pretty confident without them the economy would be pretty much the same, but deficits would be much smaller. It seems to have been just a huge handout to the rich.

Oh, the Trumpsters don't give two shits about that. He's gone hyper-Keynesian, something they would have attacked with both barrels just four years ago, and they don't care.

All they know is what they are provided in their little universe. What I said above will not enter that universe.
.

I was expecting there to be noticeable growth myself so I’m really curious how such a big cut delivered just a temporary bump. I think it has to do with so many Corps having near monopolies...

 

[August West]

No more income tax and and no more corporate tax. Both are immoral and fund this bloated oppressive Federal government excesses.

Like a true republican you just want to put everything on the credit card....

Republicans like their free stuff.

 

[Flash]

Stupid Moon Bats, who don't know anymore about Economics as they do History, Climate Science, Biology, Ethics, Ethics or the Constitution, are too ignorant to know that corporations don't really pay taxes. All they do is pass along the tax revenue from the consumers of the corporate good and services to the government.

When the filthy Liberals raise corporate taxes they are taxing the Americans that buy the goods and services made by the corporations.

So like raising tariffs?

Trump seems to not understand the economy, he promised they would pay for themselves and increase growth. The opposite has happened.

You are confused Moon Bat.

The Federal government was funded most by tariffs up until the assholes decided to establish an income tax to finance foreign wars.

In fact it was the imposition of unfair tariffs on the South to fund the greed of the Yankee assholes that was the root cause of the Civil War.

You stupid socialist Moon Bats bitch about the corporations not paying enough tax to fund your filthy welfare state like you want it to be but every cent of a corporate tax comes for the consumer when they purchase the corporate goods and services.

I have an idea Moon Bat. Instead of demanding that the filthy government tax the people more how about demanding that the filthy government spend less money? Think you can do that?

 

[Brain357]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

wut??

They are supposed to grow in a strong economy, not be flat. Hence the trillion dollar deficit.

 

[Brain357]

Stupid Moon Bats, who don't know anymore about Economics as they do History, Climate Science, Biology, Ethics, Ethics or the Constitution, are too ignorant to know that corporations don't really pay taxes. All they do is pass along the tax revenue from the consumers of the corporate good and services to the government.

When the filthy Liberals raise corporate taxes they are taxing the Americans that buy the goods and services made by the corporations.

So like raising tariffs?

Trump seems to not understand the economy, he promised they would pay for themselves and increase growth. The opposite has happened.

You are confused Moon Bat.

The Federal government was funded most by tariffs up until the assholes decided to establish an income tax to finance foreign wars.

In fact it was the imposition of unfair tariffs on the South to fund the greed of the Yankee assholes that was the root cause of the Civil War.

You stupid socialist Moon Bats bitch about the corporations not paying enough tax to fund your filthy welfare state like you want it to be but every cent of a corporate tax comes for the consumer when they purchase the corporate goods and services.

I have an idea Moon Bat. Instead of demanding that the filthy government tax the people more how about demanding that the filthy government spend less money? Think you can do that?

You are not very smart. Tariff increase the costs of products we buy. You said that was bad, you shouldn’t like trump policy.

 

[Mac1958]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

It didn't fail. There were a lot of capital expenditures with the windfall. It was just implemented inefficiently.

The problem is that it wasn't targeted. A lot of the money went to stock buybacks and other internal spends. Since we don't like to do anything more than simplistic band aids to please the bases, we didn't provide guardrails for the cuts. So the corporations just did what they're chartered to do as fiduciaries: Act in the best (usually short-term) interests of their stockholders.

The Trumpsters don't drill down more than about half an inch on anything, so they don't understand that part. And the left wingers will only look at the the inefficiencies and ignore the extra capital expenditures.

Just another good example of why we so desperately need to find a way to stop the nutters from controlling the conversation.
.

I'm looking at it failing based on what trump promised. He said they would pay for themselves and increase gdp growth to 4-6%. I'm not following how you are saying it wasn't a failure? The opposite happened of what was claimed. I'm pretty confident without them the economy would be pretty much the same, but deficits would be much smaller. It seems to have been just a huge handout to the rich.

Oh, the Trumpsters don't give two shits about that. He's gone hyper-Keynesian, something they would have attacked with both barrels just four years ago, and they don't care.

All they know is what they are provided in their little universe. What I said above will not enter that universe.
.

I was expecting there to be noticeable growth myself so I’m really curious how such a big cut delivered just a temporary bump. I think it has to do with so many Corps having near monopolies...

Well, I've been studying this crap pretty carefully, and my guess (at this moment) is that the middle and lower middle classes STILL don't have enough disposable income, even with the wage growth. On top of that, both individual and corporate debt are WAY up there, meaning we've burned through our cash.

This, after pouring every stimulative idea we have at the economy, fiscal responsibility be damned in favor of partisan politics.

2.1% growth, and no inflation, after Trump's All You Can Eat Fiscal Donut Truck? Something isn't right. I dunno.
.

 

[Norman]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

How did the tax cuts “fail”?
You realize your fellow citizen Americans own these evil corporations you hate...right?
Your fellow Americans ended with more and your corrupt government ended up with less...how is that a bad thing?
Why would you want your government to take more from your neighbor?

Some Americans own stock. About 50% of Americans have no investment in the market so right off the bat, half the country is excluded from this benefit. Of the people that do one stock, 84% of it is owned by the top 10% of Americans.

So this benefit was highly skewed.

Wealth is accumulated over life-time. You may not have any stocks at 18, but if you don't have any by the time you are 60 obviously the explanation is that you are a loser.

What is the leftist's excuse for spending their money like a drunken sailor? Don't complain to me about your reckless stupidity.

 

[colfax_m]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

How did the tax cuts “fail”?
You realize your fellow citizen Americans own these evil corporations you hate...right?
Your fellow Americans ended with more and your corrupt government ended up with less...how is that a bad thing?
Why would you want your government to take more from your neighbor?

Some Americans own stock. About 50% of Americans have no investment in the market so right off the bat, half the country is excluded from this benefit. Of the people that do one stock, 84% of it is owned by the top 10% of Americans.

So this benefit was highly skewed.

Wealth is accumulated over life-time. You may not have any stocks at 18, but if you don't have any by the time you are 60 obviously the explanation is that you are a loser.

What is the leftists excuse for spending their money like a drunken sailor? Don't complain to me about your reckless stupidity.

Wow. You just called half the country losers. Nice.

84% of the stock market gains go to the top 10%. No matter what you say, the benefits we highly skewed.

 

[DBA]

Fail?....look at the unemployment rate dumbass.....

That was happening anyway.

You morons are so predictable....

So was the unemployment rate. It was going down steadily when tRump cheated his way into the office.

Or did you forget that?

Cute that you are still buying into the Trump-Russian collusion theory. Very telling of your lack of intellectual integrity.