Key inflation cause: Republican policy

[Cellblock2429]

Don't you ever listen to the news, or in your case, I might have to say the real news. www.nbcnews.com Twice as many companies paying zero taxes under trump tax bill. It's a matter of public record you can look it up for yourself. Unless you can pull a rabbit out of your ass.

/-----/ Nothing on that link talks about corporate taxes.

 

[sealybobo]

Please explain was corporate profits were LESS under Trump then under Biden?
Or did corporations i.e. small businesses also, see Biden as anti profits and decided to raise their margins so as to cover the expenses THEY were anticipating
other businesses would anticipate i.e. for example oil companies were charged more by refineries that charged more to gas stations that charged more?
So please explain the chart that the CBO published regarding Federal tax revenue increasing more after
Trump tax cuts while inflation was nearly 200% lower under Trump i.e. average inflation for 4 years.. 1.90% inflation

VS Biden inflation for just 18 months of 6.1% ?
Please explain how that happened.
View attachment 787732
View attachment 787727

Regardless of the effect of changes in tax rates on the economy, it is important to recognize that the idea that tax cuts increase government revenues while tax increases decrease them is a myth.

Also, Trump's tax breaks made a BLIP in the economy. We were expecting 10 years of 4, 5 6% growth like Trump said. In the end, in 2017, Trump had 2.3% growth. Obama without giving away tax breaks had 2.2%. Was .1 worth it? Nope.

Before and after passage of the Tax Cuts and Jobs Act (TCJA), several prominent conservatives, including Republicans in the House and Senate, former Reagan economist Art Laffer, and members of the Trump administration, claimed that the act would either increase revenues or at least pay for itself. In principle, a tax cut could “pay for itself” if it spurred substantial economic growth—if tax revenues rose from the combination of higher wages and hours worked, greater investment returns, and larger corporate profits. The TCJA, however, is not that tax cut.

While some TCJA supporters observe that nominal revenues were higher in fiscal year 2018 (which began Oct. 1, 2017) than in FY2017, that comparison does not address the question of the TCJA’s effects. Nominal revenues rise because of inflation and economic growth. Adjusted for inflation, total revenues fell from FY2017 to FY2018 (Figure 1). Adjusted for the size of the economy, they fell even more.

The TCJA did not pay for itself, nor is it likely to do so in the future. There are many debates to have about the TCJA, but whether it raised or reduced revenues in 2018 should not be one of them.

Did the 2017 tax cut—the Tax Cuts and Jobs Act—pay for itself? | Brookings

William Gale disproves a popular mischaracterization of the 2017 Tax Cuts and Jobs Act.

www.brookings.edu

 

[sealybobo]

/-----/ Nothing on that link talks about corporate taxes.

Doesn't change the fact Trump doubled the number of companies who now pay zero federal taxes.

I remember when we complained on Bush's watch about him doing this for certain companies. Picking winner and losers. Then you guys for 8 years went on and on about how Obama let GE pay zero taxes. Reminded me of you blaming NAFTA on Clinton. Republicans championed NAFTA and the idea that corporations shouldn't pay any taxes.

So you guys loved to say LOOK, GE PAYS NO TAXES and you tried to blame Obama.

Now we are back to what Republicans did. Trump DOUBLED the number of companies who now pay zero taxes. So if you didn't like what Obama did, you should hate what Trump did DOUBLY as much.

 

[Stann]

/-----/ Nothing on that link talks about corporate taxes.

Find your own information. Sorry, it didn't lead you right to it. I guess you're going to have to work for it, if you want to know the truth. trump was never a good businessman, that's why so many of his ventures went belly up. Poor business practices. When he attended Wharton College ( part of the University of Pa. ) One of his professors said he was the worst student he ever had. Unfortunately trump never changed. I wouldn't trust him as a dogcatcher and people like you want to see this careless and reckless person in charge of our country again
He did enough damage the first time

 

[sealybobo]

Find your own information. Sorry, it didn't lead you right to it. I guess you're going to have to work for it, if you want to know the truth. trump was never a good businessman, that's why so many of his ventures went belly up. Poor business practices. When he attended Wharton College ( part of the University of Pa. ) One of his professors said he was the worst student he ever had. Unfortunately trump never changed. I wouldn't trust him as a dogcatcher and people like you want to see this careless and reckless person in charge of our country again
He did enough damage the first time

Before the Saudi's gave Trump and Jared $2 billion dollars 4 months after Trump left office and before Trump and Rudy sold 143 pardons for $2 million each. That's $2 billion $286 million more Trump has now. So not counting from when he took office. If you add up all his successes and failures from before he was in office,

He would have been better off putting the money his daddy left him in a 4% safe growth fund. He would have made more playing it safe. He gambed a lot and lost alot but that's cool because most of it was other people's money anyways.

 

[healthmyths]

Regardless of the effect of changes in tax rates on the economy, it is important to recognize that the idea that tax cuts increase government revenues while tax increases decrease them is a myth.

Also, Trump's tax breaks made a BLIP in the economy. We were expecting 10 years of 4, 5 6% growth like Trump said. In the end, in 2017, Trump had 2.3% growth. Obama without giving away tax breaks had 2.2%. Was .1 worth it? Nope.

Before and after passage of the Tax Cuts and Jobs Act (TCJA), several prominent conservatives, including Republicans in the House and Senate, former Reagan economist Art Laffer, and members of the Trump administration, claimed that the act would either increase revenues or at least pay for itself. In principle, a tax cut could “pay for itself” if it spurred substantial economic growth—if tax revenues rose from the combination of higher wages and hours worked, greater investment returns, and larger corporate profits. The TCJA, however, is not that tax cut.

While some TCJA supporters observe that nominal revenues were higher in fiscal year 2018 (which began Oct. 1, 2017) than in FY2017, that comparison does not address the question of the TCJA’s effects. Nominal revenues rise because of inflation and economic growth. Adjusted for inflation, total revenues fell from FY2017 to FY2018 (Figure 1). Adjusted for the size of the economy, they fell even more.

The TCJA did not pay for itself, nor is it likely to do so in the future. There are many debates to have about the TCJA, but whether it raised or reduced revenues in 2018 should not be one of them.

Did the 2017 tax cut—the Tax Cuts and Jobs Act—pay for itself? | Brookings

William Gale disproves a popular mischaracterization of the 2017 Tax Cuts and Jobs Act.

www.brookings.edu

Your article was dated Feb 14,2020. Discussing tax decreases that hadn't even happened yet.
NOW MY more RECENT article dated: June 2,2022 over two years later contradicts your article.

The Numbers Are In: Trump’s Tax Cuts Paid Off

The Congressional Budget Office’s May 2022 forecast shows that the government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the December 2017 passage of tax reform.

www.heritage.org

The government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the passage of tax reform.
The corporate tax reform propelled higher income growth and therefore higher income taxes and payroll taxes.
It doesn’t look like the tax cuts—which government scorekeepers said at the time would cost $1.5 trillion over 10 years—have been anything like the fiscal nightmare that some on the left would lead us to believe.
According to economists Tyler Goodspeed and Kevin Hassett, after the 2017 tax cuts, business investment soared 9.4% compared to the pre-tax cuts trend.
For corporations, real investment rose 14.2%. Similarly, a 2021 Heritage Foundation report showed the dramatic growth in investment and wages that occurred after the tax cuts. A key driver in the surge in investment was multinational firms who chose to reinvest in U.S. markets instead of offshoring.

The reinvestment in America that tax reform spurred paid real dividends for the typical household, increasing their annual rate of income growth tenfold.
Real median household incomes grew by more than $5,000 in 2018 and 2019 alone.
By contrast, in the 30 years prior to 2017, real median household income grew by a total of $7,600, or about $250 per year.

NOW for my 2 cents worth... The real income median household grew by $2,500 per year in 2018 & 2019....
equal to 10 times X $250/year the the 30 year /year average.
It is just sad that people like you just don't believe in capitalism but believe socialism works!
Just a simple example ... Do you think a business decision maker whose decisions literally could cost fellow workers their lives, let alone the monthly income should be paid the same as their fellow co-workers, the average pay today of the average worker is American workers earned an average annual salary of $61,900 at a rate of $29.76 per hour as of May 2022

What’s the average annual salary of an American worker?

Bureau unveils highest- and lowest-paid sectors

www.hcamag.com

How many people would be paid $62,000 a year to directly affect 1,000s of fellow co-workers?
IF YOU were the CEO of a multi-billion company WOULD YOU work for $30/hour?

 

[Markle]

You know what causes inflation? Corporate Profits.



There is a formula for what causes inflation, and it's very simple. It is costs plus corporate profits. That's how you get inflation. If costs increase for a company because workers want higher wages or because the cost of raw materials go up, you can get inflation. If corporate profits go up, you can get inflation. Now, you may remember a lot of economists last year saying that corporations or corporate greed was not driving inflation, but

Normally profits contribute less than a third to inflation. But, he found that in 2021, corporate profits could account for about double that, nearly 60% of inflation, meaning it was not costs driving inflation. It was corporate profits. Now, some economists hear this and think this is proof that companies were just using inflation as an excuse to gouge customers. Andrew does not think this. He thinks companies likely raised prices not because their costs went up in 2021 - because they did not, really - but because they were anticipating that their costs would go up a lot in 2022.

If we were to get in a situation where not only in 2021 did firms expect higher inflation but in 2022, they expected it, 2023, they expected it, then we very well could end up in a world where profits are always a major contributing force to inflation.

 

[Cellblock2429]

Find your own information. Sorry, it didn't lead you right to it. I guess you're going to have to work for it, if you want to know the truth. trump was never a good businessman, that's why so many of his ventures went belly up. Poor business practices. When he attended Wharton College ( part of the University of Pa. ) One of his professors said he was the worst student he ever had. Unfortunately trump never changed. I wouldn't trust him as a dogcatcher and people like you want to see this careless and reckless person in charge of our country again
He did enough damage the first time

Find your own information.

/----/ Translation: Stann can't back up his claims.

 

[Markle]

Don't you ever listen to the news, or in your case, I might have to say the real news. www.nbcnews.com Twice as many companies paying zero taxes under trump tax bill. It's a matter of public record you can look it up for yourself. Unless you can pull a rabbit out of your ass.

Please share with us specifically, the source of each and every dollar any business pays in taxes.

 

[Cellblock2429]

Please share with us specifically, the source of each and every dollar any business pays in taxes.

/----/ Stann's got nothing. Libs demand we back up every claim with a link to a source they approve of, but when we ask the same from them, we get DO YOUR OWN RESEARCH.

 

[sealybobo]

Your article was dated Feb 14,2020. Discussing tax decreases that hadn't even happened yet.
NOW MY more RECENT article dated: June 2,2022 over two years later contradicts your article.

The Numbers Are In: Trump’s Tax Cuts Paid Off

The Congressional Budget Office’s May 2022 forecast shows that the government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the December 2017 passage of tax reform.

www.heritage.org

The government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the passage of tax reform.
The corporate tax reform propelled higher income growth and therefore higher income taxes and payroll taxes.
It doesn’t look like the tax cuts—which government scorekeepers said at the time would cost $1.5 trillion over 10 years—have been anything like the fiscal nightmare that some on the left would lead us to believe.
According to economists Tyler Goodspeed and Kevin Hassett, after the 2017 tax cuts, business investment soared 9.4% compared to the pre-tax cuts trend.
For corporations, real investment rose 14.2%. Similarly, a 2021 Heritage Foundation report showed the dramatic growth in investment and wages that occurred after the tax cuts. A key driver in the surge in investment was multinational firms who chose to reinvest in U.S. markets instead of offshoring.

The reinvestment in America that tax reform spurred paid real dividends for the typical household, increasing their annual rate of income growth tenfold.
Real median household incomes grew by more than $5,000 in 2018 and 2019 alone.
By contrast, in the 30 years prior to 2017, real median household income grew by a total of $7,600, or about $250 per year.

NOW for my 2 cents worth... The real income median household grew by $2,500 per year in 2018 & 2019....
equal to 10 times X $250/year the the 30 year /year average.
It is just sad that people like you just don't believe in capitalism but believe socialism works!
Just a simple example ... Do you think a business decision maker whose decisions literally could cost fellow workers their lives, let alone the monthly income should be paid the same as their fellow co-workers, the average pay today of the average worker is American workers earned an average annual salary of $61,900 at a rate of $29.76 per hour as of May 2022

What’s the average annual salary of an American worker?

Bureau unveils highest- and lowest-paid sectors

www.hcamag.com

How many people would be paid $62,000 a year to directly affect 1,000s of fellow co-workers?
IF YOU were the CEO of a multi-billion company WOULD YOU work for $30/hour?


View attachment 787753

Take what you read from the Heritage Foundation with a grain of salt. That's 1.

2. The government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the passage of tax reform.

Expects?

Do you know what you are doing? You have just admitted that Clinton did have a a surplus. A projected surplus.

So your little article is speculating. Trump's tax breaks have not worked, yet. And probably won't.

I'm sorry I clicked on your link then clicked on the forecast and this popped up

CBO Forecasts an Economic Nightmare for All Americans​

​

Your link is bullshit. sorry

 

[Cellblock2429]

Doesn't change the fact Trump doubled the number of companies who now pay zero federal taxes.

I remember when we complained on Bush's watch about him doing this for certain companies. Picking winner and losers. Then you guys for 8 years went on and on about how Obama let GE pay zero taxes. Reminded me of you blaming NAFTA on Clinton. Republicans championed NAFTA and the idea that corporations shouldn't pay any taxes.

So you guys loved to say LOOK, GE PAYS NO TAXES and you tried to blame Obama.

Now we are back to what Republicans did. Trump DOUBLED the number of companies who now pay zero taxes. So if you didn't like what Obama did, you should hate what Trump did DOUBLY as much.

/-----/ "So you guys loved to say LOOK, GE PAYS NO TAXES and you tried to blame Obama."
No conservative said that. If GE paid no taxes, then that means no price increases for us. We sure wouldn't blame Obama, we'd thank him.

 

[sealybobo]

/-----/ "So you guys loved to say LOOK, GE PAYS NO TAXES and you tried to blame Obama."
No conservative said that. If GE paid no taxes, then that means no price increases for us. We sure wouldn't blame Obama, we'd thank him.

You think them paying no taxes mean they aren't going to raise prices? Boy are you dumb.

I say raise their taxes and let them try and raise prices on us. Do they have competition? Maybe that's why Obama gave GE the tax break. We have no choice with them.

But have you seen your electric bill lately? This is after we gave them the tax breaks.

Get Ready for Another Energy Price Spike: High Electric Bills​

Rates have jumped because of a surge in natural gas prices and could keep rising rapidly for years as utilities invest in electric grids.

General Electric annual gross profit for 2022 was $21.02B, a 3.55% increase from 2021. General Electric annual gross profit for 2021 was $20.3B, a 13.02% increase from 2020. General Electric annual gross profit for 2020 was $17.962B, a 29.2% decline from 2019.

If the CEO and VP's are going to make more corporate profits this year than they did last, and if they want their raises next year, your electric bill needs to go up.

 

[Markle]

Take what you read from the Heritage Foundation with a grain of salt. That's 1.

2. The government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the passage of tax reform.

Expects?

Do you know what you are doing? You have just admitted that Clinton did have a a surplus. A projected surplus.

So your little article is speculating. Trump's tax breaks have not worked, yet. And probably won't.

I'm sorry I clicked on your link then clicked on the forecast and this popped up

CBO Forecasts an Economic Nightmare for All Americans​

Your link is bullshit. sorry

 

[themirrorthief]

i BLAME lincoln for all of bidens dismal failure......and after biden freed the slaves too

 

[Markle]

You think them paying no taxes mean they aren't going to raise prices? Boy are you dumb.

I say raise their taxes and let them try and raise prices on us. Do they have competition? Maybe that's why Obama gave GE the tax break. We have no choice with them.

But have you seen your electric bill lately? This is after we gave them the tax breaks.

Get Ready for Another Energy Price Spike: High Electric Bills​

Rates have jumped because of a surge in natural gas prices and could keep rising rapidly for years as utilities invest in electric grids.

General Electric annual gross profit for 2022 was $21.02B, a 3.55% increase from 2021. General Electric annual gross profit for 2021 was $20.3B, a 13.02% increase from 2020. General Electric annual gross profit for 2020 was $17.962B, a 29.2% decline from 2019.

If the CEO and VP's are going to make more corporate profits this year than they did last, and if they want their raises next year, your electric bill needs to go up.

Who is going to be paying for those higher taxes? Specifically, where do the dollar bills come from?

 

[Lesh]

The whole thing is nauseating. I tried to have a discussion with a liberal this weekend who disagrees with the idea that people should have jobs. She truly believes that work should be an option for people who want to do, and that we (taxpayers) should support them if they’d rather not. When I started to explain the problem with that, she put up her hand and said she doesn’t want to hear about Republicans’ opinions. It’s a form of silencing and why Democrats can’t see what is wrong with their cockamamie opinions…..they refuse to hear the opposing side.

Sure ya did…

 

[healthmyths]

Take what you read from the Heritage Foundation with a grain of salt. That's 1.

2. The government now expects to bring in more tax revenue in the decade following the 2017 “Trump tax cuts” than it had projected prior to the passage of tax reform.

Expects?

Do you know what you are doing? You have just admitted that Clinton did have a a surplus. A projected surplus.

So your little article is speculating. Trump's tax breaks have not worked, yet. And probably won't.

I'm sorry I clicked on your link then clicked on the forecast and this popped up

CBO Forecasts an Economic Nightmare for All Americans​

Your link is bullshit. sorry

So who would you believe... CBO?
So your link was May 27, 2022

CBO Forecasts an Economic Nightmare for All Americans

Months behind schedule and as many Americans look forward to the holiday weekend, the Congressional Budget Office released its new federal budgetary and economic projections. The new CBO numbers portend of a future of bloated government, crushing federal debts, and mounting burdens forced onto...

www.heritage.org

The below FEBRUARY 15, 2023 4:2 https://www.cato.org/blog/federal-tax-revenue-remains-strong-according-cbo

4PM

 

[Stann]

/----/ Translation: Stann can't back up his claims.

I found it, you can't. Shame on you !

 

[The Duke]

...and a 22 year financial advisor/CFP, ChFC/CLU, 7/63/65.

Tell me, what is your education, training, background and practical experience in analyzing and acting on markets & economics?

Yeah, I know one of those. He's an utter dumbass.