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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??
I've been told by more than one of them that that chart is fake.The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?Fail?....look at the unemployment rate dumbass.....
I've been told by more than one of them that that chart is fake.The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?Fail?....look at the unemployment rate dumbass.....
I am not making this up.
All they know is what they're told.
.
"Keep pretending"? I didn't say that.I've been told by more than one of them that that chart is fake.The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?Fail?....look at the unemployment rate dumbass.....
I am not making this up.
All they know is what they're told.
.
Keep pretending that it is not unusual to have such a low unemployment.
The trend is not the story, the economy is always trending. The sheer number of winning we have reached, that's the story. And it is because of Donald J. Trump.
"Keep pretending"? I didn't say that.I've been told by more than one of them that that chart is fake.The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?Fail?....look at the unemployment rate dumbass.....
I am not making this up.
All they know is what they're told.
.
Keep pretending that it is not unusual to have such a low unemployment.
The trend is not the story, the economy is always trending. The sheer number of winning we have reached, that's the story. And it is because of Donald J. Trump.
You're illustrating my point. Much appreciated.
.
I'm not surprised that you don't understand my points."Keep pretending"? I didn't say that.I've been told by more than one of them that that chart is fake.The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?Fail?....look at the unemployment rate dumbass.....
I am not making this up.
All they know is what they're told.
.
Keep pretending that it is not unusual to have such a low unemployment.
The trend is not the story, the economy is always trending. The sheer number of winning we have reached, that's the story. And it is because of Donald J. Trump.
You're illustrating my point. Much appreciated.
.
If you did not say that, what in the hell is even your point? A random meaningless graph?
I try to fill in what you leave unsaid. It would be preferable if you just stated YOURSELF what you believe the graph proves.
I'm not surprised that you don't understand my points."Keep pretending"? I didn't say that.I've been told by more than one of them that that chart is fake.The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?
I am not making this up.
All they know is what they're told.
.
Keep pretending that it is not unusual to have such a low unemployment.
The trend is not the story, the economy is always trending. The sheer number of winning we have reached, that's the story. And it is because of Donald J. Trump.
You're illustrating my point. Much appreciated.
.
If you did not say that, what in the hell is even your point? A random meaningless graph?
I try to fill in what you leave unsaid. It would be preferable if you just stated YOURSELF what you believe the graph proves.
I would like you to, but I've given up trying to explain things to you people. You refuse to understand anything aside from what you are fed.
I'm not trying to convince you of ANYTHING. I'm burned out on asymmetrical conversations here. I'm tired of having to dumb things down.
.
Trump promised it would help the economy, it hasn't. He also promised it wouldn't add to deficits, but they have increased drastically.If you are self employed or run a small business, you know how much the tax cut helped. 20% deduction off net income for those making under 250K. Not to bad,
Interesting.View attachment 304667Waiting for you to explain why a huge tax cut for corporations lead to decreased gdp growth.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.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.
Do you even know what a corporation is?
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.
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Your photo:
I'm not surprised that you don't understand my points."Keep pretending"? I didn't say that.I've been told by more than one of them that that chart is fake.The unemployment rate has been falling since Gomer Bush left office. Were you asleep for 10 years?
I am not making this up.
All they know is what they're told.
.
Keep pretending that it is not unusual to have such a low unemployment.
The trend is not the story, the economy is always trending. The sheer number of winning we have reached, that's the story. And it is because of Donald J. Trump.
You're illustrating my point. Much appreciated.
.
If you did not say that, what in the hell is even your point? A random meaningless graph?
I try to fill in what you leave unsaid. It would be preferable if you just stated YOURSELF what you believe the graph proves.
I would like you to, but I've given up trying to explain things to you people. You refuse to understand anything aside from what you are fed.
I'm not trying to convince you of ANYTHING. I'm burned out on asymmetrical conversations here. I'm tired of having to dumb things down.
.
Job creation under Obama`s last 3 years averaged 227,000 a month. Trump`s numbers for 3 years average 191,000 jobs a month. Can you see the difference yet?Trump promised it would help the economy, it hasn't. He also promised it wouldn't add to deficits, but they have increased drastically.If you are self employed or run a small business, you know how much the tax cut helped. 20% deduction off net income for those making under 250K. Not to bad,
Trump promised it would help the economy, it hasn't.
You think it hurt the economy? How?
Nice deflection.So was the unemployment rate. It was going down steadily when tRump cheated his way into the office.You morons are so predictable....That was happening anyway.Fail?....look at the unemployment rate dumbass.....
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.
Something definitely isn’t right. I think it has a lot to do with our near monopolies, maybe the massive growth of inequality. Several studies have shown growing inequality is bad for growth.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.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...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.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.It didn't fail. There were a lot of capital expenditures with the windfall. It was just implemented inefficiently.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.
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.
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All they know is what they are provided in their little universe. What I said above will not enter that universe.
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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.
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Job creation under Obama`s last 3 years averaged 227,000 a month. Trump`s numbers for 3 years average 191,000 jobs a month. Can you see the difference yet?Trump promised it would help the economy, it hasn't. He also promised it wouldn't add to deficits, but they have increased drastically.If you are self employed or run a small business, you know how much the tax cut helped. 20% deduction off net income for those making under 250K. Not to bad,
Trump promised it would help the economy, it hasn't.
You think it hurt the economy? How?
https://www.washingtonpost.com/politics/2020/02/04/fact-checking-president-trumps-2020-state-union-address/?itid=hp_hp-top-table-high_fact-checker-1225am:homepage/story-ans
I’m saying it didn’t help. You don’t read so well?Trump promised it would help the economy, it hasn't. He also promised it wouldn't add to deficits, but they have increased drastically.If you are self employed or run a small business, you know how much the tax cut helped. 20% deduction off net income for those making under 250K. Not to bad,
Trump promised it would help the economy, it hasn't.
You think it hurt the economy? How?
I’m saying it didn’t help. You don’t read so well?Trump promised it would help the economy, it hasn't. He also promised it wouldn't add to deficits, but they have increased drastically.If you are self employed or run a small business, you know how much the tax cut helped. 20% deduction off net income for those making under 250K. Not to bad,
Trump promised it would help the economy, it hasn't.
You think it hurt the economy? How?
LOL...Unemployment is down and real wages are up.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.
How embarrassing!
Not quite on point. Your bubble burst.It's funny how you have no real responses and just parrot yourself constantly.Unemployment has been going down since 2010. Wages are sad. In 2000 wage growth was over 5%, now it's around 3%.Unemployment is down and real wages are up.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.
How embarrassing!
In 2000 wage growth was over 5%
The Internet Bubble was cool!!!
It's funny how you have no real responses
You think the wage growth in 2000 was unrelated to the Internet Bubble?
Looks like mine was an excellent, on-point response.
Whatever you'd like. It doesn't matter.I'm not surprised that you don't understand my points."Keep pretending"? I didn't say that.I've been told by more than one of them that that chart is fake.
I am not making this up.
All they know is what they're told.
.
Keep pretending that it is not unusual to have such a low unemployment.
The trend is not the story, the economy is always trending. The sheer number of winning we have reached, that's the story. And it is because of Donald J. Trump.
You're illustrating my point. Much appreciated.
.
If you did not say that, what in the hell is even your point? A random meaningless graph?
I try to fill in what you leave unsaid. It would be preferable if you just stated YOURSELF what you believe the graph proves.
I would like you to, but I've given up trying to explain things to you people. You refuse to understand anything aside from what you are fed.
I'm not trying to convince you of ANYTHING. I'm burned out on asymmetrical conversations here. I'm tired of having to dumb things down.
.
How about you STATE CLEARLY your point and stop playing these games?
Your point was that Trump is not that successful because the unemployment rate was already trending down. That is total hogwash, there have been numerous times the unemployment rate trended down, but never was the spectacular outburst of winning the outcome.
