‘Trickle-down’ tax cuts make the rich richer but are of no value to overall economy, study finds

[Uncensored2008]

Trickle down greatly increases deficits every time. A distraction from the huge spending increases repubs pass. Trumps attempt even gdp growth went down . Giant failure.

Explain this "trickle down" that you keep posting about? Link it to the economists who promote it.

And please spare us the blatant lies. Prior to the Wuhan designer Virus (Made in China®) our GDP was roaring at unprecedented rates.

But forget your Trump hate tropes, I want you to explain this "trickle down?"

 

[pknopp]

https://www.washingtonpost.com/business/2020/12/23/tax-cuts-rich-trickle-down/

Creating more debt and giving more to the uber rich

The trickle down economic theory was the biggest scam ever run against the American people.

How so?

I'd rather rich people keep their money to spend or invest it, thus giving yacht makers, party staff, and investment bankers more work then have government take it, hire more bureaucrats, and funnel the money into their pet projects.

Another disillusioned American supporting people that don't support him and is willing to increase debt, thus undermining his budget hawk stance.

Spending on bloated government increases the debt. The way progs like you want to spend can't be taxed through.

Repubs had full control and passed tax cuts and a huge spending increase. Last year gdp growth went down and we had a trillion deficit. Huge failure.

Who controlled the House last year?

Dems didn't pass that tax cut for the rich, so just cut the BS.

No, they like to increase taxes AND spending on pet projects and pork.

I got a tax cut from Trump, and I'm not "rich"

It's amazing how jealous progressives are of people making money the real way and how they ignore government types making money the shady way.

Those tax cuts were passed in 2017 by a Repugs controlled house and senate and they expire in 2024, or 2025, I can't remember which year and what tax increase did Dems pass in 2018 and beyond? Man stop talking shxt with your pathetic rightwing talking points that have no basis in facts.

It's always the revenue side you types ***** about and never the obscene spending on bullshit programs and government workers, which is the real problem.

The true size of government is nearing a record high

 

[Bass v 2.0]

https://www.washingtonpost.com/business/2020/12/23/tax-cuts-rich-trickle-down/

Creating more debt and giving more to the uber rich

The trickle down economic theory was the biggest scam ever run against the American people.

How so?

I'd rather rich people keep their money to spend or invest it, thus giving yacht makers, party staff, and investment bankers more work then have government take it, hire more bureaucrats, and funnel the money into their pet projects.

Another disillusioned American supporting people that don't support him and is willing to increase debt, thus undermining his budget hawk stance.

Spending on bloated government increases the debt. The way progs like you want to spend can't be taxed through.

Repubs had full control and passed tax cuts and a huge spending increase. Last year gdp growth went down and we had a trillion deficit. Huge failure.

Who controlled the House last year?

Dems didn't pass that tax cut for the rich, so just cut the BS.

No, they like to increase taxes AND spending on pet projects and pork.

I got a tax cut from Trump, and I'm not "rich"

It's amazing how jealous progressives are of people making money the real way and how they ignore government types making money the shady way.

Those tax cuts were passed in 2017 by a Repugs controlled house and senate and they expire in 2024, or 2025, I can't remember which year and what tax increase did Dems pass in 2018 and beyond? Man stop talking shxt with your pathetic rightwing talking points that have no basis in facts.

It's always the revenue side you types ***** about and never the obscene spending on bullshit programs and government workers, which is the real problem.

We govt workers aren't the problem, you supporters of tax cuts for the rich and trickle down have always had a massive problem revenue and no trickle down as promised, but you keep advocating the same isht that causes debt and blame it on high taxes when taxes bring IN more revenue, tax cuts do not

 

[pknopp]

Trickle down greatly increases deficits every time. A distraction from the huge spending increases repubs pass. Trumps attempt even gdp growth went down . Giant failure.

Explain this "trickle down" that you keep posting about? Link it to the economists who promote it.

And please spare us the blatant lies. Prior to the Wuhan designer Virus (Made in China®) our GDP was roaring at unprecedented rates.

But forget your Trump hate tropes, I want you to explain this "trickle down?"

Trump didn't call it "Trickle down". He called it "Rocket Fuel". I already explained why this is a fallacy. Need creates jobs, not tax cuts.

 

[Uncensored2008]

You're just about stupid, aren't you.

I mean, if you study a bit.

Beijing's WaPo is utterly worthless as a source. They are party hacks who spew total fabrications to promote the party agenda. What Xi's WaPo vomits out is less than useless in the study of economics.

 

[martybegan]

https://www.washingtonpost.com/business/2020/12/23/tax-cuts-rich-trickle-down/

Creating more debt and giving more to the uber rich

The trickle down economic theory was the biggest scam ever run against the American people.

How so?

I'd rather rich people keep their money to spend or invest it, thus giving yacht makers, party staff, and investment bankers more work then have government take it, hire more bureaucrats, and funnel the money into their pet projects.

Another disillusioned American supporting people that don't support him and is willing to increase debt, thus undermining his budget hawk stance.

Spending on bloated government increases the debt. The way progs like you want to spend can't be taxed through.

Repubs had full control and passed tax cuts and a huge spending increase. Last year gdp growth went down and we had a trillion deficit. Huge failure.

Who controlled the House last year?

Dems didn't pass that tax cut for the rich, so just cut the BS.

No, they like to increase taxes AND spending on pet projects and pork.

I got a tax cut from Trump, and I'm not "rich"

It's amazing how jealous progressives are of people making money the real way and how they ignore government types making money the shady way.

Those tax cuts were passed in 2017 by a Repugs controlled house and senate and they expire in 2024, or 2025, I can't remember which year and what tax increase did Dems pass in 2018 and beyond? Man stop talking shxt with your pathetic rightwing talking points that have no basis in facts.

It's always the revenue side you types ***** about and never the obscene spending on bullshit programs and government workers, which is the real problem.

We govt workers aren't the problem, you supporters of tax cuts for the rich and trickle down have always had a massive problem revenue and no trickle down as promised, but you keep advocating the same isht that causes debt and blame it on high taxes when taxes bring IN more revenue, tax cuts do not

You government workers are supposed to be overhead, not the driver of our economy, and there are too ******* many of you.

Civil SERVANTS, not a new class of nobles.

 

[pknopp]

https://www.washingtonpost.com/business/2020/12/23/tax-cuts-rich-trickle-down/

Creating more debt and giving more to the uber rich

The trickle down economic theory was the biggest scam ever run against the American people.

How so?

I'd rather rich people keep their money to spend or invest it, thus giving yacht makers, party staff, and investment bankers more work then have government take it, hire more bureaucrats, and funnel the money into their pet projects.

Another disillusioned American supporting people that don't support him and is willing to increase debt, thus undermining his budget hawk stance.

Spending on bloated government increases the debt. The way progs like you want to spend can't be taxed through.

Repubs had full control and passed tax cuts and a huge spending increase. Last year gdp growth went down and we had a trillion deficit. Huge failure.

Who controlled the House last year?

Dems didn't pass that tax cut for the rich, so just cut the BS.

No, they like to increase taxes AND spending on pet projects and pork.

I got a tax cut from Trump, and I'm not "rich"

It's amazing how jealous progressives are of people making money the real way and how they ignore government types making money the shady way.

Those tax cuts were passed in 2017 by a Repugs controlled house and senate and they expire in 2024, or 2025, I can't remember which year and what tax increase did Dems pass in 2018 and beyond? Man stop talking shxt with your pathetic rightwing talking points that have no basis in facts.

It's always the revenue side you types ***** about and never the obscene spending on bullshit programs and government workers, which is the real problem.

We govt workers aren't the problem, you supporters of tax cuts for the rich and trickle down have always had a massive problem revenue and no trickle down as promised, but you keep advocating the same isht that causes debt and blame it on high taxes when taxes bring IN more revenue, tax cuts do not

You government workers are supposed to be overhead, not the driver of our economy, and there are too ******* many of you.

Civil SERVANTS, not a new class of nobles.

The true size of government is nearing a record high

 

[Crepitus]

You're just about stupid, aren't you.

I mean, if you study a bit.

Beijing's WaPo is utterly worthless as a source. They are party hacks who spew total fabrications to promote the party agenda. What Xi's WaPo vomits out is less than useless in the study of economics.

Study is from the London school of economics.

Here's a link to someone besides wapo.

Huge new study shows trickle-down economics makes inequality worse, researchers say

The concept of cutting taxes to generate more revenue was a key foundation of Reaganomics.

thehill.com

 

[Mac1958]

The Laffer Curve is a farce, because it completely ignores/avoids what wealthy people do with their money.

It's breathtakingly inefficient and flawed.

Appropriately, Arthur Laffer first presented his theory in a bar on the back of a napkin.

 

[Uncensored2008]

When someone has $200 million in an account they aren't going to go out and say "Hey, I got a tax cut, I can now afford to start my business".

What starts a business is a need. People who have nothing have meet that need.

Yes, everyone is Scrooge McDuck with swimming pools filled with gold coins, I get it.

But the childish fantasy of the left has utterly no connection to reality.

In the real world taxes are very important. Most Communists have never had a finance class in their life, much less a class on basic economics. They can't read a balance sheet or income statement. They couldn't produce a capital investment repayment plan if their life depended on it. But in real life, that's how things work. If I want to expand a business, I have to show that the expansion plan will repay the capital employed, a concept we call ROCE, "return on capital employed". I must demonstrate to the bank or board of directors that the investment will pay back in a certain number of years or the project will not be funded. Another concept that Communists don't grasp is EBIT, which is "earnings before interest and taxes." What follows are two critical elements on an income statement - interest on debts, and taxes. The impact of these two is enormous and heavily impacts any business decision.

Yes, I'm getting into grown up talk, which is not what leftists understand. But in the world of finance and business, this is how things work. If the interest on debt for expansion erodes the payback, if the taxes on EBIT consume the return, then expansion will not happen. The jobs created by that expansion will not happen.

 

[pknopp]

When someone has $200 million in an account they aren't going to go out and say "Hey, I got a tax cut, I can now afford to start my business".

What starts a business is a need. People who have nothing have meet that need.

Yes, everyone is Scrooge McDuck with swimming pools filled with gold coins, I get it.

But the childish fantasy of the left has utterly no connection to reality.

In the real world taxes are very important. Most Communists have never had a finance class in their life, much less a class on basic economics. They can't read a balance sheet or income statement. They couldn't produce a capital investment repayment plan if their life depended on it. But in real life, that's how things work. If I want to expand a business, I have to show that the expansion plan will repay the capital employed, a concept we call ROCE, "return on capital employed". I must demonstrate to the bank or board of directors that the investment will pay back in a certain number of years or the project will not be funded. Another concept that Communists don't grasp is EBIT, which is "earnings before interest and taxes." What follows are two critical elements on an income statement - interest on debts, and taxes. The impact of these two is enormous and heavily impacts any business decision.

Yes, I'm getting into grown up talk, which is not what leftists understand. But in the world of finance and business, this is how things work. If the interest on debt for expansion erodes the payback, if the taxes on EBIT consume the return, then expansion will not happen. The jobs created by that expansion will not happen.

Need creates jobs, not tax cuts. Simply "expanding" your business does not create a need and if there is a need it's going to be met by someone, tax cuts or not.

 

[Uncensored2008]

Where the bubble burst and we have grown further and further into debt trying to reinflate it.

What bubble?

You mean the sub-prime scam of Carter and Clinton?

Again you throw out terms from leftist sources with literally zero understanding of what they mean.

 

[pknopp]

Where the bubble burst and we have grown further and further into debt trying to reinflate it.

What bubble?

You mean the sub-prime scam of Carter and Clinton?

Again you throw out terms from leftist sources with literally zero understanding of what they mean.

You understand. Housing was one way we tried to re-inflate the bubble. The answer is to let it pop and leave it.

 

[iamwhatiseem]

https://www.washingtonpost.com/business/2020/12/23/tax-cuts-rich-trickle-down/

Creating more debt and giving more to the uber rich

Then why did Obama do it?

 

[Uncensored2008]

Need creates jobs, not tax cuts. Simply "expanding" your business does not create a need and if there is a need it's going to be met by someone, tax cuts or not.

Is that right?



We "need" a cure for cancer, yet need did not create one.

No one "needed" an iPhone in 1996 - yet the supply created a market beyond the wildest dreams of everyone.

"Need," creates nothing. Supply gives rise to demand. Demand for goods or services will drive suppliers to try and find ways to meet the demands in order to profit, but need is never a consideration. Instead the supplier is merely chasing markets to sell their production. But production generally creates demand, as the utility of products is recognized. Something as simple as the humble paper clip demonstrates how supply gives rise to demand. When the paper clip was invented, no one was clamoring for a bent wire to keep papers together - yet once seen, the utility and need was recognized. Supply gave rise to demand, as it always does.

 

[Uncensored2008]

You understand. Housing was one way we tried to re-inflate the bubble. The answer is to let it pop and leave it.

Those who pulled the scam, particularly Deutsche Bank and Goldman Sachs are fully committed to stealing trillions more. Yet you still have zero grasp of how any of it works.

 

[iamwhatiseem]

Need creates jobs, not tax cuts. Simply "expanding" your business does not create a need and if there is a need it's going to be met by someone, tax cuts or not.

Uh... since when is need the central driver in a market??

You understand. Housing was one way we tried to re-inflate the bubble. The answer is to let it pop and leave it.

Those who pulled the scam, particularly Deutsche Bank and Goldman Sachs are fully committed to stealing trillions more. Yet you still have zero grasp of how any of it works.

And not to forget Obama engaged in this practice more than any other President in U.S. history. It isn't even close.

 

[pknopp]

Need creates jobs, not tax cuts. Simply "expanding" your business does not create a need and if there is a need it's going to be met by someone, tax cuts or not.

Is that right?



We "need" a cure for cancer, yet need did not create one.

No one "needed" an iPhone in 1996 - yet the supply created a market beyond the wildest dreams of everyone.

"Need," creates nothing. Supply gives rise to demand. Demand for goods or services will drive suppliers to try and find ways to meet the demands in order to profit, but need is never a consideration. Instead the supplier is merely chasing markets to sell their production. But production generally creates demand, as the utility of products is recognized. Something as simple as the humble paper clip demonstrates how supply gives rise to demand. When the paper clip was invented, no one was clamoring for a bent wire to keep papers together - yet once seen, the utility and need was recognized. Supply gave rise to demand, as it always does.

The iPhone was not created because of tax cuts.

 

[pknopp]

You understand. Housing was one way we tried to re-inflate the bubble. The answer is to let it pop and leave it.

Those who pulled the scam, particularly Deutsche Bank and Goldman Sachs are fully committed to stealing trillions more. Yet you still have zero grasp of how any of it works.

I believed G.S. should have been dismantled. G.S. is a huge proponent of tax cuts.

 

[Uncensored2008]

Trump didn't call it "Trickle down". He called it "Rocket Fuel". I already explained why this is a fallacy. Need creates jobs, not tax cuts.

So "trickle down" then is nothing more than a bullshit term the left has fabricated to try and defame the sound economic concepts of the Chicago and Austrian schools that have been proven accurate repeatedly as Keynesian predictions and predilections fail?