Marener
Diamond Member
- Jul 26, 2022
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That's exactly what you're claiming, a free lunch. Trump's tax cut sure as hell didn't create enough economic growth. He peaked at 2.9% growth? That's just not enough. Hell, in 2019 his GDP growth rate decreased and every year his deficits increased.Its not free you dope. Did you read the link I posted? This theory of yours fell flat on its face in Trump's first term. Lowering taxes can most certainly spurn enough economic growth enough to cover and even exceed the lost tax revenues. Do you think most people stick the extra money under their mattress? Even if they did, would people having a larger nest egg potentially allow for cuts in government spending that was previously used to help people who didn't have a nest egg? You guys are not serious people.
Most Americans got less than $1000 benefit from the tax cut. That's not exactly making anyone's nest egg dramatically bigger. The vast majority of cost in the tax bill was in corporate and high income earners, which has much less stimulatory effect. Supposedly corporations were going to use all this profit to invest in production but that never really happened. They mostly just bought stock back.