How can anyone on the left claim Trump has been anything but successful?

[AntonToo]

I'll grant you the spending but I hold that on the GOP 100% as they control the purse strings.

um, no, sorry.

The real problem is, there really isn't anything to cut.

Once you take out interest on the debt, defense spending, Medicare and Social Security, there just isn't that much to cut in Federal Spending. Not enough to offset the Billions in tax breaks to the rich that Trump pushed through.

Trump is working on the same old discredited crap that if you cut taxes on rich people, that generates economic activity that will increase revenues. It's the same supply side bullshit the GOP has been pushing for 40 years and they don't really even believe anymore.

NOw they just push tax cuts for the rich because the rich deserve it.

Then there are all the other bad ideas, like deregulation. It's like we didn't learn a fucking thing from 2008.

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Pure horseshit from asshole liars.

Fiscal Year 2018 started in SEPTEMBER 2017, while taxcuts only kicked in by February. Additionally there was 55B increase in April, but again those were 2017 settlements at 2017 tax rates.

Here is our revenues on tax-cuts:

Oct 18 +$14B
Nov 18 +$8B
Dec 18 +$7B
Jan 18 +$17B
<<<<<TAX-CUTS PHASED IN
Feb 18 -$16B
March 18 -$6B
April 18 +55B (2017 tax settlements)
May 18 -$23B
June 18 -$32B
July 18 -$7B
August 18 -$7B

https://www.fiscal.t...tmt/mts0818.pdf - Page 2

So instead of 11 billion average monthly revenue growth there is 15 billion shortfall.

Total effect is ~26B monthly, $156B YTD, revenue reduction trend so far since tax-cuts went into effect.

 

[JoeB131]

How wealthy and how much income does somebody need to have in order to be "the rich" that are making you so jealous and hateful?

Is it a person with one more penny or dollar than you have? Is it a thousand dollars? $10,000 dollars more per annum than you?

Can you tell us exactly who you are talking about when you say "the rich"?

I would say anyone making over $500,000. They should totally pay their fair share in taxes.

 

[healthmyths]

I'll grant you the spending but I hold that on the GOP 100% as they control the purse strings.

um, no, sorry.

The real problem is, there really isn't anything to cut.

Once you take out interest on the debt, defense spending, Medicare and Social Security, there just isn't that much to cut in Federal Spending. Not enough to offset the Billions in tax breaks to the rich that Trump pushed through.

Trump is working on the same old discredited crap that if you cut taxes on rich people, that generates economic activity that will increase revenues. It's the same supply side bullshit the GOP has been pushing for 40 years and they don't really even believe anymore.

NOw they just push tax cuts for the rich because the rich deserve it.

Then there are all the other bad ideas, like deregulation. It's like we didn't learn a fucking thing from 2008.

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Pure horseshit from asshole liars.

Fiscal Year 2018 started in SEPTEMBER 2017, while taxcuts only kicked in by February. Additionally there was 55B increase in April, but again those were 2017 settlements at 2017 tax rates.

Here is our revenues on tax-cuts:

Oct 18 +$14B
Nov 18 +$8B
Dec 18 +$7B
Jan 18 +$17B
<<<<<TAX-CUTS PHASED IN
Feb 18 -$16B
March 18 -$6B
April 18 +55B (2017 tax settlements)
May 18 -$23B
June 18 -$32B
July 18 -$7B
August 18 -$7B

https://www.fiscal.t...tmt/mts0818.pdf - Page 2

So instead of 11 billion average monthly revenue growth there is 15 billion shortfall.

Total effect is ~26B monthly, $156B YTD, revenue reduction trend so far since tax-cuts went into effect.

You compared FY 2017 that had a total of 12 months to FY 2018 with 11 months.

Let's see what Sept 2018 or the total FY 2018 shows.
I know most juveniles think things happen with a click of the remote, or when you hit the enter key but geez folks... the economy is huge.
Decisions especially long term business decisions oh say like building new facilities, or hiring people AFTER the facilities are nearly finished are generally Not snap decisions.

The reality is that with the cut in corporate income taxes from 35% to 21% the USA is getting back an estimated $1.2 trillion.
NOW these companies have to pay a tax on that to the tune of 15.5%... or 8%...
The new rules set a one-time rate of 15.5 percent on cash and 8 percent on non-cash or illiquid assets. Payments can be made over eight years.
Previously, companies had to pay the old 35 percent corporate rate, but only if they brought the money back to the U.S.
Bloomberg - Are you a robot?

All told, the Bureau of Economic Analysis (BEA) reported, some $305.6 billion returned to the U.S. from overseas accounts. That's a $1.2 trillion annual rate, and far more than the $35 billion one year before. Thanks To Tax Cuts, Companies' Overseas Profits Flooding Back To U.S. This article was written in Jun 2018.

So tell me as a juvenile commentator that you are, do you think these billions of dollars are reported in 2018?
Just in repatriated cash tax of 8% on $1.2 trillion WILL range from $96 Billion to potentially $180 Billion ...all not in 2018 but will be stretched out over several years.

IN the meantime... when this $1.2 trillion comes back unlike the juvenile comment writer, most sagacious and knowledgeable people KNOW that this $1.2 Trillion WILL NOT BE:
1) buried in the back yard or 2) hide under their mattresses.

NO again after long term planning this $1.2 Trillion will be invested in facilities that take months to plan, to evaluate as to the profitability, etc. again NOT something that happens
in the first six months AFTER the tax cuts go into effect.

AND again to those juvenile uninformed commentators... So the businesses BUY back their shares! So frigging WHAT happens?
A) Taxable events on the people that sell the shares back.
B) Now what will the people that had their shares bought do with the money?.... 1) bury in the back yard or 2) hide under their mattresses.?

The problem with juvenile commentators is they have little if ANY knowledge regarding the "Multiplier" effect.

Impact of the Trump Fiscal Stimulus on US Economic Growth

 

[kyzr]

Dodd Frank was created in result of the crisis afterwards right ?? However it wasn't the proper answer for the crisis was it ?

We haven't had a similar crash since, so it did just fine. I personally think it didn't go far enough, they needed to break up "Too big to fail" banks.

One of my favorite movies is "Too Big to Fail". Saw it 100x.

Not sure how they could fix the crash when the US runs out of money when the Debt interest crowds out all other spending.
As the interest rate goes up, government will be getting smaller.

Breaking up the big banks leaves the field to the international big banks. Better regulation based on common sense is what's needed.

Question for you that evidently you are an expert having seen the move 100 times...

What percent of the current federal budget goes to pay interest on the national debt?

As per google:
"Last year, the federal government spent $263 billion, or 1.4 percent of GDP, on interest. ... As recently as last June, the Congressional Budget Office (CBO) projected interest spending would grow to above $800 billion and nearly 3 percent of GDP by 2027 as a result of rising interest rates and growing debt levels.Mar 15, 2018"

Something doesn't add up though. The Federal revenue is currently about $3.5T a year, so my calculator says 263/3500 is 7.5% currently, and 800/3500 is 23% in 2027 unless they grow a brain and raise the top tax rate in preparation for the next recession, and fix entitlements (raise the retirement age, and the other fixes)

Deficits are projected to grow as a % GDP as the country ages and healthcare cost rise faster than the economy.

 

[kyzr]

How wealthy and how much income does somebody need to have in order to be "the rich" that are making you so jealous and hateful?

Is it a person with one more penny or dollar than you have? Is it a thousand dollars? $10,000 dollars more per annum than you?

Can you tell us exactly who you are talking about when you say "the rich"?

I would say anyone making over $500,000. They should totally pay their fair share in taxes.

Pick the top tax rate currently about 36%
Also, I assume you're ok with the current 21% Corporate rate that keep corporations here instead of fleeing overseas to avoid taxes (Like Pfizer and many others)

 

[JoeB131]

Pick the top tax rate currently about 36%

Which is much too low...

Should be about 50% for the top wage earners, given Social Security and Medicare are capped for them.

Also, I assume you're ok with the current 21% Corporate rate that keep corporations here instead of fleeing overseas to avoid taxes (Like Pfizer and many others)

Again, most corporations pay no taxes and a lot of them get huge tax breaks to stay here. We have it ass backwards... we keep giving them concessions and they keep taking more.

 

[kyzr]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

 

[danielpalos]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

The left wants to pioneer, raising the minimum wage to raise tax revenue, so the poor can help with taxes.

 

[Muhammed]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

The left wants to pioneer, raising the minimum wage to raise tax revenue, so the poor can help with taxes.

So then you agree with Trump that the minimum wage should be raised.

 

[kyzr]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

The left wants to pioneer, raising the minimum wage to raise tax revenue, so the poor can help with taxes.

I can see a $15 minimum wage for heads of households. The problem with the $15 min is that jobs are lost, so kids can't find work.

 

[AntonToo]

I'll grant you the spending but I hold that on the GOP 100% as they control the purse strings.

um, no, sorry.

The real problem is, there really isn't anything to cut.

Once you take out interest on the debt, defense spending, Medicare and Social Security, there just isn't that much to cut in Federal Spending. Not enough to offset the Billions in tax breaks to the rich that Trump pushed through.

Trump is working on the same old discredited crap that if you cut taxes on rich people, that generates economic activity that will increase revenues. It's the same supply side bullshit the GOP has been pushing for 40 years and they don't really even believe anymore.

NOw they just push tax cuts for the rich because the rich deserve it.

Then there are all the other bad ideas, like deregulation. It's like we didn't learn a fucking thing from 2008.

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Pure horseshit from asshole liars.

Fiscal Year 2018 started in SEPTEMBER 2017, while taxcuts only kicked in by February. Additionally there was 55B increase in April, but again those were 2017 settlements at 2017 tax rates.

Here is our revenues on tax-cuts:

Oct 18 +$14B
Nov 18 +$8B
Dec 18 +$7B
Jan 18 +$17B
<<<<<TAX-CUTS PHASED IN
Feb 18 -$16B
March 18 -$6B
April 18 +55B (2017 tax settlements)
May 18 -$23B
June 18 -$32B
July 18 -$7B
August 18 -$7B

https://www.fiscal.t...tmt/mts0818.pdf - Page 2

So instead of 11 billion average monthly revenue growth there is 15 billion shortfall.

Total effect is ~26B monthly, $156B YTD, revenue reduction trend so far since tax-cuts went into effect.

You compared FY 2017 that had a total of 12 months to FY 2018 with 11 months.

Let's see what Sept 2018 or the total FY 2018 shows.

No I didn’t dummy, you clearly have no idea what you are even looking at.

This is a MONTH-TO-MONTH comparison, not full year to year, because AGAIN tax-cuts were phased in only by second half of FY2018.

If you think it’s a coincidence that ALL of the pre-taxcut rates months this year posted revenue growth and ALL of the after-taxcut rate months showed revenue declines, then you are a prime suspect to be sold Brooklyn bridges by asshole politicos.

 

[doesanyoneknowmyname]

By almost any measurable metric the United States is flourishing. And in some areas it isn't just flourishing it is stampeding.
I will grant you that the debt/spending is a huge problem but at least the country as a whole is reaping rewards from it this time. Usually they spend boatloads and we get buptkis out of it (see Obama)
The threat of tariffs and ending trade agreements has even had some positive outcomes so far (Mexico & Canada)

Now I expect you to howl about families split up at the border (while pretending this was new to Trump) and the debt of course but policy wise you got no winning message.

?
successful?

our allies no longer trust us.....
instead they laugh at us

and regardless of the illusions of economic indicators...

nothing much appears to have changed in my area.....

fuel is the same as it was during President Obamas terms.....

food is about the same

life around here is pretty much the same as it was 5 years ago.


so you would have to be more specific about what those successes are....

I hardly consider a president denouncing his opposition as "the enemy of America" as a success....

I certainly don't consider electing a man who brags about his sexual predator victories to be a success....

and
since no gay, atheist, liberal, feminist, muslims, wiccan is going to lose their rights.....I'm not sure what those "successes" are...

there is still no wall
hillary has NOT been locked up
and brownshirted conservatives have still not attempted a kristallnacht....

so....

 

[healthmyths]

I'll grant you the spending but I hold that on the GOP 100% as they control the purse strings.

um, no, sorry.

The real problem is, there really isn't anything to cut.

Once you take out interest on the debt, defense spending, Medicare and Social Security, there just isn't that much to cut in Federal Spending. Not enough to offset the Billions in tax breaks to the rich that Trump pushed through.

Trump is working on the same old discredited crap that if you cut taxes on rich people, that generates economic activity that will increase revenues. It's the same supply side bullshit the GOP has been pushing for 40 years and they don't really even believe anymore.

NOw they just push tax cuts for the rich because the rich deserve it.

Then there are all the other bad ideas, like deregulation. It's like we didn't learn a fucking thing from 2008.

Income Tax Revenues Are Up 9% As Trump's Pro-Growth Tax Cuts Kick In

Pure horseshit from asshole liars.

Fiscal Year 2018 started in SEPTEMBER 2017, while taxcuts only kicked in by February. Additionally there was 55B increase in April, but again those were 2017 settlements at 2017 tax rates.

Here is our revenues on tax-cuts:

Oct 18 +$14B
Nov 18 +$8B
Dec 18 +$7B
Jan 18 +$17B
<<<<<TAX-CUTS PHASED IN
Feb 18 -$16B
March 18 -$6B
April 18 +55B (2017 tax settlements)
May 18 -$23B
June 18 -$32B
July 18 -$7B
August 18 -$7B

https://www.fiscal.t...tmt/mts0818.pdf - Page 2

So instead of 11 billion average monthly revenue growth there is 15 billion shortfall.

Total effect is ~26B monthly, $156B YTD, revenue reduction trend so far since tax-cuts went into effect.

You compared FY 2017 that had a total of 12 months to FY 2018 with 11 months.

Let's see what Sept 2018 or the total FY 2018 shows.

No I didn’t dummy, you clearly have no idea what you are even looking at.

This is a MONTH-TO-MONTH comparison, not full year to year, because AGAIN tax-cuts were phased in only by second half of FY2018.

If you think it’s a coincidence that ALL of the pre-taxcut rates months this year posted revenue growth and ALL of the after-taxcut rate months showed revenue declines, then you are a prime suspect to be sold Brooklyn bridges by asshole politicos.

I was looking at the chart link showed ....dummy!
You put a link I follow and the monthly totals for FY 2017 are 12 while Monthly totals for FY 2018 11!
That's the point and YOU extracted WHAT YOU wanted to say!
But again pure economic dummies are like little 3 year olds! "Mommy... why can't I grow faster"? Why is the day so long mommy? Why can't the tax cuts show up in increased
revenues RIGHT after they go into effect Mommy"!

You have to have a little patience I know I know at your 5 year old mentality YOU want it NOW!!!
Doesn't work that way! It takes time for companies to I know "earn profits" evil as they are to ignorami like you but those profits then generate further expansions and
when you as a long term planner for a large company just say "hey let's build a plant and hire 3,000 people TOMORROW!!!" You are being like you a petulant little kid.
Grow up and wait for the LONG term effect of allowing companies to keep more profits.
If the IRS decides that a business has excess earnings, the company will be liable for income tax on that amount at the rate of 15 percent, with interest calculated from the date of the return.Does a Company Pay Income Tax on Retained Earnings?

So dummy impatient little ignorami like you need to comprehend what will be happening not in your little foot stamping.."I want it now!!!" but it takes time.
I know you think a oil tanker can turn around on a dime just as the economy and businesses can turn around on a dime... but shock!!!
THEY CAN"T! It takes about 20 minutes for a fully loaded large tanker to stop when heading at normal speed? Amazing facts about tanker industry

https://www.fiscal.treasury.gov/fsreports/rpt/mthTreasStmt/mts0818.pdf

 

[healthmyths]

By almost any measurable metric the United States is flourishing. And in some areas it isn't just flourishing it is stampeding.
I will grant you that the debt/spending is a huge problem but at least the country as a whole is reaping rewards from it this time. Usually they spend boatloads and we get buptkis out of it (see Obama)
The threat of tariffs and ending trade agreements has even had some positive outcomes so far (Mexico & Canada)

Now I expect you to howl about families split up at the border (while pretending this was new to Trump) and the debt of course but policy wise you got no winning message.

?
successful?

our allies no longer trust us.....
instead they laugh at us

and regardless of the illusions of economic indicators...

nothing much appears to have changed in my area.....

fuel is the same as it was during President Obamas terms.....

food is about the same

life around here is pretty much the same as it was 5 years ago.


so you would have to be more specific about what those successes are....

I hardly consider a president denouncing his opposition as "the enemy of America" as a success....

I certainly don't consider electing a man who brags about his sexual predator victories to be a success....

and
since no gay, atheist, liberal, feminist, muslims, wiccan is going to lose their rights.....I'm not sure what those "successes" are...

there is still no wall
hillary has NOT been locked up
and brownshirted conservatives have still not attempted a kristallnacht....

so....

So... from YOUR words: "since no gay, atheist, liberal, feminist, muslims, wiccan is going to lose their rights.....I'm not sure what those "successes" are.."
It appears YOU are disappointed! That to me means you ARE ANTI-GAY,ATHEIST,LIBERAL,FEMINIST,MUSLIMS,WICCAN"! WOW!

 

[Remodeling Maidiac]

regardless of the illusions of economic indicators...

so you would have to be more specific about what those successes are....

You dismissed the proof as an illusion so there is no point in discussing it with you.

Dismissed

 

[kyzr]

Dodd Frank was created in result of the crisis afterwards right ?? However it wasn't the proper answer for the crisis was it ?

We haven't had a similar crash since, so it did just fine. I personally think it didn't go far enough, they needed to break up "Too big to fail" banks.

One of my favorite movies is "Too Big to Fail". Saw it 100x.

Not sure how they could fix the crash when the US runs out of money when the Debt interest crowds out all other spending.
As the interest rate goes up, government will be getting smaller.

Breaking up the big banks leaves the field to the international big banks. Better regulation based on common sense is what's needed.

Question for you that evidently you are an expert having seen the move 100 times...

What percent of the current federal budget goes to pay interest on the national debt?

As per google:
"Last year, the federal government spent $263 billion, or 1.4 percent of GDP, on interest. ... As recently as last June, the Congressional Budget Office (CBO) projected interest spending would grow to above $800 billion and nearly 3 percent of GDP by 2027 as a result of rising interest rates and growing debt levels.Mar 15, 2018"

Something doesn't add up though. The Federal revenue is currently about $3.5T a year, so my calculator says 263/3500 is 7.5% currently, and 800/3500 is 23% in 2027 unless they grow a brain and raise the top tax rate in preparation for the next recession, and fix entitlements (raise the retirement age, and the other fixes)

Deficits are projected to grow as a % GDP as the country ages and healthcare cost rise faster than the economy.

Corrected for the difference between % of GDP and % of US Budget

"Last year, the federal government spent $263 billion, or 1.4 percent of GDP, on interest. ... As recently as last June, the Congressional Budget Office (CBO) projected interest spending would grow to above $800 billion and nearly 3 percent of GDP by 2027 as a result of rising interest rates and growing debt levels.Mar 15, 2018"

The Federal revenue is currently about $3.5T a year, so my calculator says 263/3500 is 7.5% currently, and 800/3500 is 23% in 2027 unless they grow a brain and raise the top tax rate in preparation for the next recession, and fix entitlements (raise the retirement age, and the other fixes). Note that $800b far exceeds the current Defense Budget of $717b, so MANY programs will be cut unless something is done soon.

 

[danielpalos]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

The left wants to pioneer, raising the minimum wage to raise tax revenue, so the poor can help with taxes.

So then you agree with Trump that the minimum wage should be raised.

Mr. Trump is welcome to go along with that specific left wing agenda, for potential lenience from the left wing.

 

[danielpalos]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

The left wants to pioneer, raising the minimum wage to raise tax revenue, so the poor can help with taxes.

I can see a $15 minimum wage for heads of households. The problem with the $15 min is that jobs are lost, so kids can't find work.

Unemployment is natural under capitalism. It is why the left has a solution; unemployment compensation for capitalism's natural rate of unemployment. A fifteen dollar an hour minimum wage and unemployment compensation for being unemployed by capitalism's natural rate of unemployed at fourteen dollars an hour equivalent will solve that simple form of poverty; and, higher paid labor pays more in taxes and create more in demand.

 

[healthmyths]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

The left wants to pioneer, raising the minimum wage to raise tax revenue, so the poor can help with taxes.

I can see a $15 minimum wage for heads of households. The problem with the $15 min is that jobs are lost, so kids can't find work.

Unemployment is natural under capitalism. It is why the left has a solution; unemployment compensation for capitalism's natural rate of unemployment. A fifteen dollar an hour minimum wage and unemployment compensation for being unemployed by capitalism's natural rate of unemployed at fourteen dollars an hour equivalent will solve that simple form of poverty; and, higher paid labor pays more in taxes and create more in demand.

AGAIN... how many people would GAIN from $15. wage????? Less than 3 million!
Q) How many people do you think work at minimum wage?
A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers. What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research
So let's raise ALL these 3 million people to $15.00/hour.
DO you think that solution will help the GDP????? Well guess what dummies!
The actual contribution would be 3 million times $7.75 X 2,080 hours and guess what a GREAT big difference to the GDP that makes??? 2/10ths of 1 percent!!!
$48.3 billion divided by $18.57 trillion equals 0.002%...WOW... what a gigantic difference!!!

 

[danielpalos]

The only problem with raising taxes on the wealthy is that they move overseas to "tax havens" and/or put money in Swiss bank accounts or some other tax avoidance scheme. I'm not sure how to avoid the "only little people pay taxes" rationale' of the wealthy.

The left wants to pioneer, raising the minimum wage to raise tax revenue, so the poor can help with taxes.

I can see a $15 minimum wage for heads of households. The problem with the $15 min is that jobs are lost, so kids can't find work.

Unemployment is natural under capitalism. It is why the left has a solution; unemployment compensation for capitalism's natural rate of unemployment. A fifteen dollar an hour minimum wage and unemployment compensation for being unemployed by capitalism's natural rate of unemployed at fourteen dollars an hour equivalent will solve that simple form of poverty; and, higher paid labor pays more in taxes and create more in demand.

AGAIN... how many people would GAIN from $15. wage????? Less than 3 million!
Q) How many people do you think work at minimum wage?
A) In 2014, about 1.3 million U.S. workers age 16 and over earned exactly the prevailing federal minimum wage of $7.25 per hour. Another 1.7 million had wages below the federal minimum. Together these workers make up 4 percent of all hourly paid workers. What are the characteristics of minimum wage workers? - UC Davis Center for Poverty Research
So let's raise ALL these 3 million people to $15.00/hour.
DO you think that solution will help the GDP????? Well guess what dummies!
The actual contribution would be 3 million times $7.75 X 2,080 hours and guess what a GREAT big difference to the GDP that makes??? 2/10ths of 1 percent!!!
$48.3 billion divided by $18.57 trillion equals 0.002%...WOW... what a gigantic difference!!!

that is just one part of it; the other part is the upward pressure on wages while higher paid labor pays more in taxes and creates more in demand. you may be missing the point about labor being able to afford better products at that new price point.