Why did the corporate tax cuts fail?

[Billiejeens]

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

 

[Brain357]

That seems like a good question for the trumpers. You see gdp growth went down last year?

You see gdp growth went down last year?

Was it higher than Obama's 1.6% in 2016?

How does it matter? It was lower than 2014 and 2015 and 2017 and 2018. Not what trump promised.

How does it matter?

Looks like Trump has improved on the economy Obama left him.

Looks like he increased deficits to a trillion dollars with no real growth. Again, lower than 2014, 2015, 2017, 2018.....

Would you mind sharing with the readers the deficit increases for 2012,2013,2014,2015 and 2016?

Didn't think so.

 

[Brain357]

Sounds like republicans have no answer for this failure. That's not good for the future.

Just like how predictable lower unemployment was, it was headed that way since 2010....

Always gonna happen with the dems...headed that way....but never arrives...you get conned by them willingly...WHY?...dems are always going to fix things at least that's what the say and that's what their media says...but they never do...they just make things worse and make life more challenging for people that want to advance in life....
Trump has made what dems promise happen...he is checking off the swamps list of never achieved promises and getting shit done...
What do you do?...do you work?...are you retired?...are you employed by government?...how is it you can't see the truth for yourself?....I really don't understand folks like you and I'm happy as hell that your numbers are shrinking....

Remember when you used to claim to be tea party? How do you live with being such a hypocrite?

The Taxed Enough Already party is in no way hypocritical for advocating lower taxes.

They are hypocritical for pretending to be fiscally responsible. When they were in full control they increased deficits with spending and damaging revenue.

And you are simply lying again.

Increasing deficits drastically is fiscally responsible now? That's funny.

 

[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.

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.

 

[Brain357]

Nobody is going to take a shot at why the corporate tax cut failed?

 

[Billiejeens]

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.

What are you basing that on?

 

[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.

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.

What are you basing that on?

GDP growth went down and the deficit has exploded.

 

[Billiejeens]

Nobody is going to take a shot at why the corporate tax cut failed?

Why dont you take a shot at why gravity is not working.

 

[Brain357]

Nobody is going to take a shot at why the corporate tax cut failed?

Why dont you take a shot at why gravity is not working.

It's working here, where are you?

 

[Crepitus]

That was happening anyway.

You morons are so predictable....

Just like how predictable lower unemployment was, it was headed that way since 2010....

Always gonna happen with the dems...headed that way....but never arrives...you get conned by them willingly...WHY?...dems are always going to fix things at least that's what the say and that's what their media says...but they never do...they just make things worse and make life more challenging for people that want to advance in life....
Trump has made what dems promise happen...he is checking off the swamps list of never achieved promises and getting shit done...
What do you do?...do you work?...are you retired?...are you employed by government?...how is it you can't see the truth for yourself?....I really don't understand folks like you and I'm happy as hell that your numbers are shrinking....

So dems lowered it a whole lot more than trump has so far. Come to reality.

Just around the corner it was....LMFAO..headed the right way....even Obama told us it was as good as it was going to get back in 2010 that there is a new reality a new normal...that scared the shit out of people....come on man you are trying to sell a beaten hag of a horse and no one is buying....

Lol, it went down for seven straight years.

Are you stoned or just stupid?

 

[LeftofLeft]

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.

Ok, so how do Democrats fix that?

Undoing everything trump has done would help.

How are they going to reduce the deficit? You are an independent. How would you hold Democrats accountable on reducing the deficit? Or is getting Trump more important to you?

 

[candycorn]

Record low unemployment, record DOW, consumer confidence at an all time high, new trade treaties that benefit the U.S. What's not to like?

2 trillion more in debt, Iran shelling our troops with impunity, a lying whoremonger for a President....

 

[candycorn]

The economy continues to expand at a decent rate, unemployment remains low, and it seems that indicators for increased production output are in the positive territory. The Fed just decided that the economy is strong enough that they decided to leave interest rates flat, oh and China is nearing a tailspin economically, while Mexico is doing our work for us in keeping illegals out. They are also on board for the new trade agreement. Then there is the timely and well-managed regulation cuts.

Trump has screwed up, however. He has failed to cut government spending to acceptable levels. His spend-happy ways really make the GOP look like Democrat lite.

No, the tax cuts haven't failed. That is spin and lies in an effort to tarnish this administration's accomplishment, which aren't numerous enough, but there is another 5 years to go given the piss poor candidates the disloyal opposition is putting forth.

Until such time as Trump manages to cut spending (real cuts, not cuts in growth), I'll always consider his time as a 'push'.

You are aware that President Trump doesn't write the budget, or have any control over mandatory spending?

He signs off on every penny that is spent. Stop lying.

 

[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.

Ok, so how do Democrats fix that?

Undoing everything trump has done would help.

How are they going to reduce the deficit? You are an independent. How would you hold Democrats accountable on reducing the deficit? Or is getting Trump more important to you?

You are pretty off topic here. This thread is mostly about the corporate tax cuts. Obviously increasing the deficit is one of the effects of that cut. Trump increased the deficit with his tax cuts and increased spending. Eliminating those would bring deficits down. Given that trump increased Obama deficits he's just not fiscally responsible. His attempts to grow the economy are also mostly a failure.

 

[Muhammed]

Nobody is going to take a shot at why the corporate tax cut failed?

It didn't fail, dumbass. Revenue, real wages and employment all went up.

The economy is strong. Take a poll asking people if they are better off now than they were when the Democrats had total control of the federal government a decade ago.

 

[Brain357]

Nobody is going to take a shot at why the corporate tax cut failed?

It didn't fail, dumbass. Revenue, real wages and employment all went up.

The economy is strong. Take a poll asking people if they are better off now than they were when the Democrats had total control of the federal government a decade ago.

Actually they have failed miserably. He promised they would pay for themselves and give 4-6% gdp growth. GDP growth has gone down and deficits have ballooned. Revenue barely went up, the rate of growth was tiny. Real wages are weak. Employment was going up long before the cuts.

 

[Auld Phart]

Thread cleaned

 

[Toddsterpatriot]

That's a long answer.

You have 8 choices....if you use annual rates.

The short answer is our capitalism is very broken.

Obama didn't have 3% wage growth, because "our capitalism is very broken"?

Yes

But Trump did. He must have fixed what Obama broke......

Nope. Good wage growth is much higher. What we have now is weak.

Good wage growth is much higher. What we have now is weak.

But higher than Obama had.

Pretty sure it’s currently below 3. Historically it is very weak.

Pretty sure it’s currently below 3.

Wage Growth Tracker - Federal Reserve Bank of Atlanta

This source seems to say above 3% since March 2018.

 

[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.

Tax cuts for big business and the wealthy never, ever help the economy.

You're lying.

 

[Billiejeens]

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.

What are you basing that on?

GDP growth went down and the deficit has exploded.

Nobody is going to take a shot at why the corporate tax cut failed?

Why dont you take a shot at why gravity is not working.

It's working here, where are you?

So are the tax rate reductions
Where are you?