Why did the corporate tax cuts fail?

[Dana7360]

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.

Tax cuts for big business and the wealthy never, ever help the economy. Tax cuts don't create jobs. Tax cuts don't raise wages for the working people of this nation.

All tax cuts do is explode the deficit and debt and make big business and the filthy rich, even more filthy rich.

Nope
None of that is factual

Sure didn't help this time.

All of what I posted was factual. I left out some facts too.

Tax cuts encourage business to take our jobs to other nations. Tax cuts increases the wage gap. Tax cuts keeps wages low. Tax cuts cause higher prices for goods and services.

There is nothing good about tax cuts especially when we have record deficit and debt.

No one and no business should ever get a tax cut while our budget deficit and national debt are at record highs.

The responsible thing to do is to balance the budget and pay off debt before anyone gets any tax cut.

 

[Toddsterpatriot]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

The average American worker sees a 0.2% fatter paycheck

Wow! That guy really doesn't understand the data.

Wage growth going from 3.5% to 3.7% does not mean "The average American worker sees a 0.2% fatter paycheck"

 

[Brain357]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

You Loons are downright fascinating....
”Give us every wetback from Mexico that’s looking for a better life and DAMNIT Father Government give us higher wages as well.”
Do you ignorant fools realize how ignorant that sounds?

Yeah expecting wages to increase with low unemployment is real ignorant. You don’t know much about economics eh?

 

[Toddsterpatriot]

It appears to have grown more with Obama .

In which years under Obama did it grow more than under Trump?

You make this very easy, but your spin is a waste of time.

Pointing out your inability to read a graph is hardly spin. Or a waste of time.

No tax cut bump visible.

LOL!
The tax cut was passed in December 2017.
Wage growth went from 2.9% in December 2017 to 3.9% in November 2018.

It hasn’t hit 3.9 In a very long time. You have some imagination.

It hasn’t hit 3.9 In a very long time.

November 2018 and again in July 2019.
Click on the link, move your cursor over the graph.

The increasing trend started in 2010 long before the cuts.

I know, 3.9% after the cuts.

Yes wages have been following the same trend since 2010. Did trump make a promise about wages?

Yes wages have been following the same trend since 2010.

Much higher trend under Trump.

 

[Brain357]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

The average American worker sees a 0.2% fatter paycheck

View attachment 304774

Wow! That guy really doesn't understand the data.

Wage growth going from 3.5% to 3.7% does not mean "The average American worker sees a 0.2% fatter paycheck"

But it does show how weak wage growth has been.

 

[Toddsterpatriot]

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.

Tax cuts for big business and the wealthy never, ever help the economy. Tax cuts don't create jobs. Tax cuts don't raise wages for the working people of this nation.

All tax cuts do is explode the deficit and debt and make big business and the filthy rich, even more filthy rich.

Nope
None of that is factual

Sure didn't help this time.

All of what I posted was factual. I left out some facts too.

Tax cuts encourage business to take our jobs to other nations. Tax cuts increases the wage gap. Tax cuts keeps wages low. Tax cuts cause higher prices for goods and services.

There is nothing good about tax cuts especially when we have record deficit and debt.

No one and no business should ever get a tax cut while our budget deficit and national debt are at record highs.

The responsible thing to do is to balance the budget and pay off debt before anyone gets any tax cut.

Tax cuts encourage business to take our jobs to other nations.

Liar.

Tax cuts keeps wages low.

Liar

Tax cuts cause higher prices for goods and services.

Pants on fire.

There is nothing good about tax cuts

Is your brain injury recent?
What is your prognosis for recovery?

 

[BrokeLoser]

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.

You weird Leftists harbor a very weird obsession with other people’s shit, holdings and achievements. You always seem to forget that opportunity is created by those who aggressively pursue it.
Wealth, like achievements is accumulated from intelligence, hard work, accountability, determination and ambition....all traits the Left hates.
Remember, we are not EQUALS...you can not and will not ever be my EQUAL....you have been grossly misled by your fellow beggars.

Im not saying we are all equals. I’m saying that the actions taken by the Trump administration are disproportionality beneficial to the wealthiest. Remember, he is adding a trillion dollars of PUBLIC debt to achieve these benefits. It’s not irrational to look at the outcome of such policies.

One other problem. I don’t believe people who don’t achieve wealth are unintelligent, that they’re not hard working or not ambitious. I feel that the people who do work hard, follow the rules and don’t necessarily achieve wealth for all sorts of reasons shouldn’t be excluded from living a good life.

Haha..this “included” / “excluded” BS you speak of...you forget that grown adults are responsible for their own decision making and career paths taken...One has the freedom to choose the career path and or life choice that puts them into this “INCLUSIVE” category you’ve concocted.

 

[Brain357]

It hasn’t hit 3.9 In a very long time. You have some imagination.

It hasn’t hit 3.9 In a very long time.

November 2018 and again in July 2019.
Click on the link, move your cursor over the graph.

The increasing trend started in 2010 long before the cuts.

I know, 3.9% after the cuts.

Yes wages have been following the same trend since 2010. Did trump make a promise about wages?

Yes wages have been following the same trend since 2010.

Much higher trend under Trump.

The previous 3 years appear to have a bigger gain.

 

[Hutch Starskey]

Not quite on point. Your bubble burst.
Bush had an average real wage growth of 4.9%
Obama's was 4.2%

Obama's was 4.2%

Link?

Prove me wrong.

If you don't have a source that shows Obama had average real wage growth of 4.2%, just say so.

Your own graph bears that out.

Where on my graph does it show that Obama had average real wage growth of 4.2%?

You can admit you have no source. I'll understand.

LOL...
You don't know how to read a graph but continue to waive it around like you do.

 

[Toddsterpatriot]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

The average American worker sees a 0.2% fatter paycheck

View attachment 304774

Wow! That guy really doesn't understand the data.

Wage growth going from 3.5% to 3.7% does not mean "The average American worker sees a 0.2% fatter paycheck"

But it does show how weak wage growth has been.

Yes, Obama had really, really weak wage growth.
It was in all the papers.

 

[Brain357]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

The average American worker sees a 0.2% fatter paycheck

View attachment 304774

Wow! That guy really doesn't understand the data.

Wage growth going from 3.5% to 3.7% does not mean "The average American worker sees a 0.2% fatter paycheck"

But it does show how weak wage growth has been.

Yes, Obama had really, really weak wage growth.
It was in all the papers.

As does trump.

 

[Toddsterpatriot]

Obama's was 4.2%

Link?

Prove me wrong.

If you don't have a source that shows Obama had average real wage growth of 4.2%, just say so.

Your own graph bears that out.

Where on my graph does it show that Obama had average real wage growth of 4.2%?

You can admit you have no source. I'll understand.

LOL...
You don't know how to read a graph but continue to waive it around like you do.

Just admit you have no source for your Obama claim of 4.2%.

 

[Toddsterpatriot]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

The average American worker sees a 0.2% fatter paycheck

View attachment 304774

Wow! That guy really doesn't understand the data.

Wage growth going from 3.5% to 3.7% does not mean "The average American worker sees a 0.2% fatter paycheck"

But it does show how weak wage growth has been.

Yes, Obama had really, really weak wage growth.
It was in all the papers.

As does trump.

3.7% in December looks pretty good.

 

[Dale Smith]

Obama's was 4.2%

Link?

Prove me wrong.

If you don't have a source that shows Obama had average real wage growth of 4.2%, just say so.

Your own graph bears that out.

Where on my graph does it show that Obama had average real wage growth of 4.2%?

You can admit you have no source. I'll understand.

LOL...
You don't know how to read a graph but continue to waive it around like you do.

waive: refrain from insisting on or using (a right or claim)

Good job, dumb ass.

 

[healthmyths]

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.

Bring in the Democrats and Liberals and really watch the deficit soar. It’s not like your side plans to cut spending..... just raise taxes for the State.

I’m an independent. You didn’t come close to answering the question, trump really made deficits soar btw.

Trump did? Prove what this chart shows is the fault of Trump, i.e. population growth!
The only place that Trump's had any affect is "discretionary spending" of 30% of the budget...which the largest is military spending.

How Congress Really Spends Your Money

 

[Brain357]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

The average American worker sees a 0.2% fatter paycheck

View attachment 304774

Wow! That guy really doesn't understand the data.

Wage growth going from 3.5% to 3.7% does not mean "The average American worker sees a 0.2% fatter paycheck"

But it does show how weak wage growth has been.

Yes, Obama had really, really weak wage growth.
It was in all the papers.

As does trump.

3.7% in December looks pretty good.

Only .2 better than when he took office and really low relative to unemployment rate. Did he promise an increase?

 

[Muhammed]

Higher than Obama's.

What are the numbers? It was increasing under Obama.

I posted the chart. At least twice. Forget already?

Chart isn’t clear. I see wage growth for Obama and trump,. Looks like it just followed the trend started under Obama.

Chart isn’t clear.

View attachment 304765

Looks clear to me.

Clink on the link if you need more clarity.

Wage Growth Tracker - Federal Reserve Bank of Atlanta

I see wage growth for Obama and trump,

Yup. And it's been higher under Trump.

Amazing graph

Even though the recession was over by 2010 and employers were seeing record profits, it still took a decade for wages to return to where they were in 2008

That's a lot better than real wages would be if Ted Kennedy's brain cancer and the Republican revolution did not thwart Obama's plan to make energy prices skyrocket.

 

[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.

Bring in the Democrats and Liberals and really watch the deficit soar. It’s not like your side plans to cut spending..... just raise taxes for the State.

I’m an independent. You didn’t come close to answering the question, trump really made deficits soar btw.

Trump did? Prove what this chart shows is the fault of Trump, i.e. population growth!
The only place that Trump's had any affect is "discretionary spending" of 30% of the budget...which the largest is military spending.

How Congress Really Spends Your Money
View attachment 304776

He flattened revenue and increased spending. It’s pretty obvious.

 

[Hutch Starskey]

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.

70% of the GDP is related to consumer spending.
Consumers drive economic prosperity. There's no profit without customers. There's no demand when the bulk of consumers have no cash. Growth will be slow with low demand regardless of capital investment.

And democrats say that unemployment stimulates the US economy

That would depend on wages. No?
If a guy goes from a fulltime job to Uber driver then no. Our "jobs" are turning into delivery drivers for rich folks.

Only if you're unmotivated and stupid.

Yet those jobs continue to grow.

 

[BrokeLoser]

Wage growth is simply poor.


But wages are nothing to boast about. As the first chart shows, wage growth has ticked up only slightly under Trumponomics. The average American worker sees a 0.2% fatter paycheck (not factored in for inflation) compared to the day Trump was sworn into office in January, 2017.

Wages, economic growth and manufacturing—3 metrics Trump should avoid in tonight’s State of the Union Address – Fortune

You Loons are downright fascinating....
”Give us every wetback from Mexico that’s looking for a better life and DAMNIT Father Government give us higher wages as well.”
Do you ignorant fools realize how ignorant that sounds?

Yeah expecting wages to increase with low unemployment is real ignorant. You don’t know much about economics eh?

Low unemployment has little to do with wage values when much of the workforce and job offerings are comprised of brainless people and duties. You’ve manifested an underground underclass of degenerates whom don’t even speak the native language...the numbers are in the tens of millions...What other nation could we drop tens of millions of desperate degenerates in without destroying the low to middle wage sector?