Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
The middle class is also paying less taxes. Not more.
LOL! So they're paying less federal income taxes, however they're paying more in state, local, and excise taxes. Kansas just did this very thing because they eliminated taxes for pass-thrus and the resulting deficit nightmare was closed by the state raising sales and excise taxes, which affect the middle class more.
Also, if the middle class tax cut as part of the Bush and Reagan tax cuts were so great, how come household debt spiked each time? That doesn't seem to indicate that the middle and lower classes are paying less...it means they're falling further behind because they have to pay more out-of-pocket for services like health care and education. Again, that is why household debt spiked each time taxes were cut.
There will be growth.
How adorable! Maybe you need to click your ruby red shoes three times, or clap loud enough like you're saving Tinkerbelle.
No there won't be growth, because cutting corporate taxes does nothing for consumers. All it does is make corporations wealthier, though not more successful. Revenues are how you can measure a company's growth, not profits. Why? Because revenues indicate demand. So if your revenues grow, that means there's demand for your product. If your revenues stagnate or decline, that means there's less demand. Cutting the corporate tax rate has no effect on consumer demand. Why? Because consumers see nothing from a corporate tax cut.
BTW - Trump's Q1 2017 GDP growth was a whopping 0.7%, the worst in 3 years. last month, he only created 93,000 jobs, the worst in 2 years. So are you pulling a Brownback where you initially say these policies will work, then you backtrack and say they will work after time? How many times are you going to move the goalposts until you're not even in the stadium anymore?
If Bush left tax rates alone, the Internet Bubble would have gone on until 2010?
The dotcom bubble had nothing to do with income taxes. The dotcom bubble was actually caused by...wait for it...The Capital Gains Tax Cut of 1997. Bush's dumb tax cuts did nothing other than erase a surplus and lose jobs. Oh, and if you are to believe him, were also responsible for Bush's Mortgage Bubble.
You're the one who said tax cuts never increase consumer demand.
They don't, and you have no proof they do. In fact, most evidence shows that tax cuts decrease consumer demand, plunge consumers into debt, and kill jobs. Just like what happened after Bush cut taxes in 2001.
Which ones? What rates in 1981 were higher in 1982 or 1983?
Payroll taxes. And it was done in 1982 because the tax cuts of 1981 blew a hole in the deficit.
As opposed to previous years when they cut spending? LOL!
Unlike tax cuts, government spending is injected into the economy.
Which other Fed rate cuts gave us real GDP growth of over 4% the next 3 years?
None. What did that was increased deficit spending, as the debt tripled and the deficit doubled.
Just look at the cuts in 2007 and 2008. Where was the massive growth after that?
What cuts? There were no tax cuts in 2007 and 2008. That was when the economy was in free fall thanks to the housing bubble caused by Bush's Tax Cuts (If you are to believe Bush).
If your state raises your taxes, maybe you should move?
IYou know, instead of blaming the guys who cut your taxes.
IJust look at the cuts in 2007 and 2008. Where was the massive growth after that?
Interest rate cuts. Damn. Are you off your meds?
Trump wants to cut corporate and individual taxes.
The dotcom bubble didn't create jobs? Are you sure?
If your state raises your taxes, maybe you should move?
But hold on a second...that's not the point of the argument you were making. You wanted to know how income tax cuts result in tax increases in the middle and lower classes, and I showed you. So now, you've picked up those goalposts and moved them, once again, to an emotional argument of hysterics. Yeesh. You people are so touchy-feely. Everything is about feelings and emotion with you people. Get a grip!
IYou know, instead of blaming the guys who cut your taxes.
So why did the guy cut taxes in the first place? Because it leads to growth? No. Because it increases wages for workers? No. Because it decreases debt? No. They cut taxes to manufacture a deficit that is used as an excuse to cut spending, forcing the middle and lower classes to go into debt to afford soaring costs of programs that saw funding cuts; namely education and health care. So it's really just a wealth transfer to the top. For whose benefit? Those at the top. Tax cuts for the rich and corporations do nothing for the middle and lower classes. We know this because we see it happening in real time in Kansas.
IJust look at the cuts in 2007 and 2008. Where was the massive growth after that?
What cuts? What are you talking about? 2007-8 was when your subprime mortgage bubble popped.
Interest rate cuts. Damn. Are you off your meds?
Ummm...so in 2007-8 there was this little thing called the Bush Mortgage Bubble that popped. Interest rates were cut in 2007-8 in an effort to increase lending, which would increase demand, but because the credit markets were frozen, no one could borrow -that is, unless you were a multinational corporation who could just go to the Fed Discount Window and get a 0% loan, which is what many did
Trump wants to cut corporate and individual taxes.
For himself and his rich friends. Why do you think he won't release his taxes?
The dotcom bubble didn't create jobs? Are you sure?
So where were all those jobs when the bubble popped? So, to make an analogy; you're saying that the Yankees won because they had the most runs scored after 8 innings...even though Chapman blows the lead in the 9th. We are to ignore the outcome and celebrate that which led up to it. That's what your argument boils down to, pal.
