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Thread: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by Digger View Post
    Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
    I don't recall him setting any time table on when that was going to happen - he still has five years.
    Obama: High unemployment and slow growth are the new normal
    Trump: No they're not

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by Rogue Valley View Post
    GOP "trickle down" economics doesn't work? /s

    It's a quid-pro-quo system.

    Wealthy individuals/corporations give big campaign donations to Republicans, who in turn give huge tax breaks and financial/corporate deregulation in return.

    This for example is what is currently happening at the EPA under Trump. Tossing out all EPA regulations that held campaign-donor fossil-fuel industries and major polluters in check.
    Your truths per post is abysmal. Indistinguishable from zero.
    Obama: High unemployment and slow growth are the new normal
    Trump: No they're not

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by Mycroft View Post
    LOL!!

    You just can't accept that people and businesses are doing better since the tax reform, can you? "scraps" LOL!!

    No problem. I'll leave you to your unending rage.

    You are dismissed. (see my sig)
    Yes, scraps. Aren't you aware?

    Updated Estimates from ITEP: Trump Tax Law Still Benefits the Rich No Matter How You Look at It – ITEP

    Half of the benefits go to the richest 5%. 72% goes to the richest 20%. Leaving the rest of us scraps.

    Did The Rich Get All Of Trump's Tax Cuts?

    "The rich received the lions share of the tax cuts."
    Last edited by Digger; 02-10-20 at 09:38 PM.

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by Digger View Post
    Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
    Still seeking attention I see, what a waste of time. anyone that claims that people keeping more of what they earn is an expense to the federal gov't and has to be paid for has zero credibility as they are totally void of even basic accounting and reality

    Exaggerations aren't lies, they are predictions designed to make headlines, Think the American people give a damn about 4-5-6% GDP growth or the fact that the Trump GDP Growth is higher than anything Obama ever generated and was created through the private sector not Federal gov't spending? Keep showing that liberal ignorance on the components of GDP and actual results

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by Digger View Post
    Yes, scraps. Aren't you aware?

    Updated Estimates from ITEP: Trump Tax Law Still Benefits the Rich No Matter How You Look at It – ITEP

    Half of the benefits go to the richest 5%. 72% goes to the richest 20%. Leaving the rest of us scraps.

    Did The Rich Get All Of Trump's Tax Cuts?

    "The rich received the lions share of the tax cuts."
    Class envy, jealousy are what you and the left are noted for. It really bothers you that the people who are paying most of the taxes gets the biggest benefit from tax cuts. How does that hurt the country? You really have no idea where state and local governments get their money, do you?

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    A tax cut will increase economic growth when taxes are high enough that they are impairing economic growth. If current tax rates are not high enough to impair economic growth, then cutting taxes doesn't lead to a sustained increase in GDP growth. This stuff isn't complicated.

    The fact is, fiscal policy has very little to do with economic growth at the national level (or the state level for that matter). No one wakes up in the morning and thinks "My top marginal effective tax rate dropped 2 percentage points, I am going to hire 100 new workers.", or "I got a 1% tax increase on my top marginal rate, I am not buying that bass boat now." That just doesn't happen. Monetary policy has an impact, but you would be hard pressed to ever correlate any fiscal policy changes to economic growth.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by SouthernDemocrat View Post
    A tax cut will increase economic growth when taxes are high enough that they are impairing economic growth. If current tax rates are not high enough to impair economic growth, then cutting taxes doesn't lead to a sustained increase in GDP growth. This stuff isn't complicated.

    The fact is, fiscal policy has very little to do with economic growth at the national level (or the state level for that matter). No one wakes up in the morning and thinks "My top marginal effective tax rate dropped 2 percentage points, I am going to hire 100 new workers.", or "I got a 1% tax increase on my top marginal rate, I am not buying that bass boat now." That just doesn't happen. Monetary policy has an impact, but you would be hard pressed to ever correlate any fiscal policy changes to economic growth.
    That isn't entirely true as the state and local governments get the majority of their tax revenue from consumer spending whether it is from sales taxes, property taxes, excise taxes all of which are impacted by federal tax rates and payments. The American people cannot print money so when they send dollars to the federal gov't it is less dollars to spend in the state and local communities thus impacting the ability of the state and local governments to provide support to the citizens of the state on social programs.

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by Conservative View Post
    That isn't entirely true as the state and local governments get the majority of their tax revenue from consumer spending whether it is from sales taxes, property taxes, excise taxes all of which are impacted by federal tax rates and payments. The American people cannot print money so when they send dollars to the federal gov't it is less dollars to spend in the state and local communities thus impacting the ability of the state and local governments to provide support to the citizens of the state on social programs.
    It gets spent anyway. It's not like the federal government hoards money. Much of what goes to the federal government ends up being wealth transfers from younger workers to older retires, and from urban areas to rural areas.

    You really have to get all the way down to the major city level to see where government has much of an impact on economic growth. At the federal level, the only major impact is the federal reserve. I have never seen a business plan, a company financial meeting, or anything business related where federal fiscal policy ever had an impact on anything other than capital expenditure depreciation.

    The reason why we have been stuck with anemic GDP growth in this country for the last decade has nothing to do with the federal government, its the terrible business culture in this country we have adopted over the last 20 years or so. For example, the average IT or Engineering group in a company these days will have more product managers, project managers, BAs, marketing coordinators, consultants and so on than actual engineers. This is why it takes forever to build anything anymore. There is hundreds of billions of dollars lost to rent seeking behavior in our private sector these days.
    Last edited by SouthernDemocrat; 02-12-20 at 12:17 PM.
    "You're the only person that decides how far you'll go and what you're capable of." - Ben Saunders (Explorer and Endurance Athlete)

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by SouthernDemocrat View Post
    It gets spent anyway. It's not like the federal government hoards money. Much of what goes to the federal government ends up being wealth transfers from younger workers to older retires, and from urban areas to rural areas.

    You really have to get all the way down to the major city level to see where government has much of an impact on economic growth. At the federal level, the only major impact is the federal reserve. I have never seen a business plan, a company financial meeting, or anything business related where federal fiscal policy ever had an impact on anything other than capital expenditure depreciation.
    It gets spent to create dependence and therein lies the problem. Money getting to the states is for federal mandated programs not individual personal responsibility issues.

    sorry but you remain very poorly informed especially when it comes to state and local revenue neither of which you acknowledged or answered

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    Re: The trump tax cuts have given us 4, 5, 6 % growth and paid for themselves

    Quote Originally Posted by Bullseye View Post
    I don't recall him setting any time table on when that was going to happen - he still has five years.
    The initial jolt in stimulus is felt within the first year, and then the economy internalizes the gains. The data supports this statement:



    The deficit is has grown by $400 billion under Trump's watch.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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