Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
Small-business owners are highly engaged in the 2020 presidential election campaign, as 60% say they are paying "a lot" and 30% "some" attention to it. With near unanimity, they say they are likely to vote in the general election. Sixty percent approve of the job that Donald Trump is doing as president, and 52% think their business would be better off if he is reelected. They are somewhat less likely to say they would be better off if the Democratic nominee wins the election (41%).
These findings are from a Jan. 15-24 nationwide Square/Gallup online survey of small-business owners with annual revenues between $50,000 and $25 million.
Most small-business owners rate the financial condition of their business positively -- 56% say it is "excellent" and 38% "good" -- and 69% report that their business benefited from the 2017 tax reform law. More than seven in 10 say they reinvested over one-quarter of the savings that resulted from the tax law in their business.
Yet, other policies have had a less positive effect. Seventy percent of small-business owners say the cost of healthcare has had "a lot of" or "some" impact on their ability to hire and retain employees, and half say the same of changes to U.S. immigration policies since 2017.
Small-Business Owners Highly Engaged in 2020 Election
Seems small business owners might disagree with you...if you believe polls, that is.
Seems small business owners might disagree with you...if you believe polls, that is.
You're in kind of a mood today aren't you?
Pivot from rich people to small business owners. Very clever. But you know that the tax cuts mostly went to rich people and huge corporations.
Now look at your numbers. More than 7 in 10 owners reinvested at least a quarter of their savings back into their business. That's not a very high bar. The converse way to say it is that more than 2 in 10 didn't even reinvest a quarter of it. And that is why tax cuts for rich people don't help the economy very much. They don't use the money to create jobs. They just get richer while the poor stay poor.
Can you read?
The article said 7 in 10 owners...keep in mind these are small business owners...reinvested "MORE" than a quarter of their savings back into their business....not "at least". And your "converse way to say it" is not substantiated by anything in that article. These small business owners are not "rich people", but their businesses certainly benefited from the tax cut. 69% of them say they have.
But hey...it appears you have a hard on for rich people. So it goes...
Oh, my bad. I stand corrected. If 70 something % invested more than a quarter, that means that 20 something % invested a quarter or less. You want to check my math for me?
I'm glad that 69% of small business owners appreciated their scraps. Of course, that means 31% didn't.
I know that you'd rather talk about all the little people who got scraps. But since the lion's share of the tax cut went to rich people and giant corporations, they are more relevant. It isn't me who has a hardon for rich people. I didn't design the tax cut.
I don't recall him setting any time table on when that was going to happen - he still has five years.Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
Your truths per post is abysmal. Indistinguishable from zero.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.
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)
Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
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."
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.
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.
I don't recall him setting any time table on when that was going to happen - he still has five years.
With all due respect, I don't wish to continue tolerating your insults and blind homage to Obamanomics. A simple observation of the state of the economy and people's satisfaction with it and their personal affairs proves everything I've said. I have nothing further to say to you.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.
Oh no, they didn't. It's almost like giving tax cuts to rich people doesn't help the economy very much.
I have nothing further to say to you.
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.
Yes interest expense has almost doubled and the rest of the growth is due to entitlement spending as you continue to ignore reality.