Why did the corporate tax cuts fail?

[deanrd]

[Q

You must be in the trump administration. He seems to hire only the worst economists...

You are confused Moon Bat.

That distinction goes to the worthless Negro piece of shit President. With the help of his dumbass Left Wing economists Obama increased poverty, decreased family income, inflicted tremendous debt, increased income disparity and had dismal income growth.

Then you can look at the idiot Democrat economists in California. It use to to the Golden State but now, thanks to Democrat economics, it has the worst poverty, most homeless, worst schools and most debt.

Liberals **** up everything they touch. They don't know any more about Economics than they know about History, Climate Science, Biology, Ethics or the Constitution.

And yet, bizarrely, it seems like most of America’s money and technology and education are centered in blue states.

The actual base of the GOP is Appalachia. Often referred to as “the white ghetto“.

Kentucky and West Virginia have five of the 10 poorest counties in the nation.

Appalachia is also the center of the worlds opioid addiction epidemic.
Not to mention a terrible hepatitis epidemic.

instead of Republicans hating blue states and the fact that they have the best schools and make the most money, perhaps they should look at blue states
And learn from their example? What is it blue states are doing right and why are red states failing so miserably?

Yeah, Califlakia, Oregon and Washington are awash in wealth and prosperity......(snicker)

California is the biggest economy by far...

California has gone from the worlds seventh largest economy to the worlds fifth largest economy.

 

[healthmyths]

Up from what?

2.9% in December 2017.
It was much less during Obama's terms.

So a 1% gain? Obama's certainly was a larger gain.

3.9% growth. Much higher than Obama's average.

Yes, Obama had to deal with the after effects of the Great Bush Recession of 2008.

Question is.....with 3.5 percent unemployment, why aren’t we seeing 5 percent wage increases like we saw under Clinton

Yes, Obama had to deal with the after effects of the Great Bush Recession of 2008.

Yes, we had the weakest recovery since WWII under Obama.

why aren’t we seeing 5 percent wage increases like we saw under Clinton

Partly too many illegal aliens, partly no Internet Bubble.

What made it the weakest recovery?

Obama made it! Because as the attached attest, Obama did everything to halt America's recovery!
Consider all of the statements and policies of Obama.

 

[deanrd]

I’m an independent. You didn’t come close to answering the question, trump really made deficits soar btw.

Trump did? Prove what this chart shows is the fault of Trump, i.e. population growth!
The only place that Trump's had any affect is "discretionary spending" of 30% of the budget...which the largest is military spending.

How Congress Really Spends Your Money
View attachment 304776

He flattened revenue and increased spending. It’s pretty obvious.

You provided NO links for your above statement.
Far from "flattened revenue"... FACTS links, substantiation.... PLEASE prove your statement!

Who Really Pays Uncle Sam's Bills?
View attachment 304797

I posted a video explaining it, try to keep up.

The attached is a simple straight illustration that revenues weren't flattened under Trump!View attachment 304810

Wow! They really grew under Obama. Thanks for posting that.

Not only was revenue growing under Obama, but borrowing was falling. How’s that working out under Trump?

 

[bendog]

What are the numbers? It was increasing under Obama.

I posted the chart. At least twice. Forget already?

Chart isn’t clear. I see wage growth for Obama and trump,. Looks like it just followed the trend started under Obama.

Chart isn’t clear.

View attachment 304765

Looks clear to me.

Clink on the link if you need more clarity.

Wage Growth Tracker - Federal Reserve Bank of Atlanta

I see wage growth for Obama and trump,

Yup. And it's been higher under Trump.

Seriously?
Trump's line is nearly flat since 2017.

Why is up over 3% annually since 2017 considered flat?

Are you a dem? Why is math so hard for you?

Wages increased faster during 9 months of Obama's terms that, so far, Trump's term has not matched once. Thus, your attempt a cause effect correlation …. fails.
United States Wages and Salaries Growth | 1960-2019 Data | 2020-2022 Forecast | Chart

But again, I didn't say the corp tax cuts failed. Corporate profits have continued to grow despite the falling growth that accompanied Trump's tariffs

United States GDP Annual Growth Rate | 1948-2019 Data | 2020-2022 Forecast | Chart
United States Corporate Profits | 1950-2019 Data | 2020-2022 Forecast | Chart

 

[Flash]

Only dumbass Moon Bats are against tax cuts.

Only really really dumbass Moon Bats are against tax cuts that have given this country a tremendous economic boom.

Moon Bats are always confused.

 

[CrusaderFrank]

Oh, the Trumpsters don't give two shits about that. He's gone hyper-Keynesian, something they would have attacked with both barrels just four years ago, and they don't care.

All they know is what they are provided in their little universe. What I said above will not enter that universe.
.

I was expecting there to be noticeable growth myself so I’m really curious how such a big cut delivered just a temporary bump. I think it has to do with so many Corps having near monopolies...

Well, I've been studying this crap pretty carefully, and my guess (at this moment) is that the middle and lower middle classes STILL don't have enough disposable income, even with the wage growth. On top of that, both individual and corporate debt are WAY up there, meaning we've burned through our cash.

This, after pouring every stimulative idea we have at the economy, fiscal responsibility be damned in favor of partisan politics.

2.1% growth, and no inflation, after Trump's All You Can Eat Fiscal Donut Truck? Something isn't right. I dunno.
.

Something definitely isn’t right. I think it has a lot to do with our near monopolies, maybe the massive growth of inequality. Several studies have shown growing inequality is bad for growth.

One of the things I learned in economics 101. Unregulated capitalism will always result in monopolies and destroy an economy.

Which is why proper regulation on business is the only way capitalism can work to benefit an economy.

The biggest risks to capitalism right now are the people who refuse to see that.

No doubt the REAL socialists and communists are appreciating every bit of this.
.

Can you point out one of these "unregulated capitalist" businesses? Banking? Where?

 

[Brain357]

Only dumbass Moon Bats are against tax cuts.

Only really really dumbass Moon Bats are against tax cuts that have given this country a tremendous economic boom.

Moon Bats are always confused.

Only partisan morons believe that. You are aware gdp just went down?

 

[Mac1958]

I was expecting there to be noticeable growth myself so I’m really curious how such a big cut delivered just a temporary bump. I think it has to do with so many Corps having near monopolies...

Well, I've been studying this crap pretty carefully, and my guess (at this moment) is that the middle and lower middle classes STILL don't have enough disposable income, even with the wage growth. On top of that, both individual and corporate debt are WAY up there, meaning we've burned through our cash.

This, after pouring every stimulative idea we have at the economy, fiscal responsibility be damned in favor of partisan politics.

2.1% growth, and no inflation, after Trump's All You Can Eat Fiscal Donut Truck? Something isn't right. I dunno.
.

Something definitely isn’t right. I think it has a lot to do with our near monopolies, maybe the massive growth of inequality. Several studies have shown growing inequality is bad for growth.

One of the things I learned in economics 101. Unregulated capitalism will always result in monopolies and destroy an economy.

Which is why proper regulation on business is the only way capitalism can work to benefit an economy.

The biggest risks to capitalism right now are the people who refuse to see that.

No doubt the REAL socialists and communists are appreciating every bit of this.
.

Can you point out one of these "unregulated capitalist" businesses? Banking? Where?

I didn't use that term. I would have used "under-regulated", which was at the heart of the Meltdown (I know you don't know that).

My point was what I actually said.
.

 

[healthmyths]

Trump did? Prove what this chart shows is the fault of Trump, i.e. population growth!
The only place that Trump's had any affect is "discretionary spending" of 30% of the budget...which the largest is military spending.

How Congress Really Spends Your Money
View attachment 304776

He flattened revenue and increased spending. It’s pretty obvious.

You provided NO links for your above statement.
Far from "flattened revenue"... FACTS links, substantiation.... PLEASE prove your statement!

Who Really Pays Uncle Sam's Bills?
View attachment 304797

I posted a video explaining it, try to keep up.

The attached is a simple straight illustration that revenues weren't flattened under Trump!View attachment 304810

Wow! They really grew under Obama. Thanks for posting that.

Not only was revenue growing under Obama, but borrowing was falling. How’s that working out under Trump?

Simple. The only place Presidents can affect spending... is "discretionary spending"!
Including in "discretionary spending" is military spending.
Barack Obama was the first president of the United States to spend more on “means-tested entitlements”—AKA welfare—than on national defense, according to data published by his own Office of Management and Budget.
Obama Was First President to Spend More on Welfare Than Defense

Do you notice the decline from 2010-2017?
Obama spending less and spent more or welfare. Right...
In 2018 Trump spent more on military.

U.S. military spending 2000-2018 | Statista

 

[Flash]

Greedy Libtard Moon Bats : "Lets tax the shit out of everybody else so I can get free shit".

 

[my2¢]

Fail?....look at the unemployment rate dumbass.....

The unemployment rate is remarkable. I suspect much of it's improvement ever since the later years of Obama's presidency has less to do with anything out of Washington and is more of a result of us baby boomers retiring at a rate of around 10,000 per day (source of figure: Are We in a Baby Boomer Retirement Crisis?).

 

[CrusaderFrank]

Well, I've been studying this crap pretty carefully, and my guess (at this moment) is that the middle and lower middle classes STILL don't have enough disposable income, even with the wage growth. On top of that, both individual and corporate debt are WAY up there, meaning we've burned through our cash.

This, after pouring every stimulative idea we have at the economy, fiscal responsibility be damned in favor of partisan politics.

2.1% growth, and no inflation, after Trump's All You Can Eat Fiscal Donut Truck? Something isn't right. I dunno.
.

Something definitely isn’t right. I think it has a lot to do with our near monopolies, maybe the massive growth of inequality. Several studies have shown growing inequality is bad for growth.

One of the things I learned in economics 101. Unregulated capitalism will always result in monopolies and destroy an economy.

Which is why proper regulation on business is the only way capitalism can work to benefit an economy.

The biggest risks to capitalism right now are the people who refuse to see that.

No doubt the REAL socialists and communists are appreciating every bit of this.
.

Can you point out one of these "unregulated capitalist" businesses? Banking? Where?

I didn't use that term. I would have used "under-regulated", which was at the heart of the Meltdown (I know you don't know that).

My point was what I actually said.
.

Bank are "under regulated"

Hmmkay I did not know that

 

[Mac1958]

Something definitely isn’t right. I think it has a lot to do with our near monopolies, maybe the massive growth of inequality. Several studies have shown growing inequality is bad for growth.

One of the things I learned in economics 101. Unregulated capitalism will always result in monopolies and destroy an economy.

Which is why proper regulation on business is the only way capitalism can work to benefit an economy.

The biggest risks to capitalism right now are the people who refuse to see that.

No doubt the REAL socialists and communists are appreciating every bit of this.
.

Can you point out one of these "unregulated capitalist" businesses? Banking? Where?

I didn't use that term. I would have used "under-regulated", which was at the heart of the Meltdown (I know you don't know that).

My point was what I actually said.
.

Bank are "under regulated"

Hmmkay I did not know that

I know.
.

 

[healthmyths]

Fail?....look at the unemployment rate dumbass.....

The unemployment rate is remarkable. I suspect much of it's improvement ever since the later years of Obama's presidency has less to do with anything out of Washington and is more of a result of us baby boomers retiring at a rate of around 10,000 per day (source of figure: Are We in a Baby Boomer Retirement Crisis?).

Another factor to the employment rate is a simple fact.
According to a new U.S. Chamber of Commerce July survey, nearly three-fourth of small businesses say the ACA makes it harder to hire workers and 61 percent do not plan to take on additional hires next year.
According to The New York Times Economix blogger Annie Lowrey, “The Affordable Care Act gives employers an incentive to hire part-time workers rather than full-time workers, as they might be compelled to offer health coverage to the latter, but not the former. That’s why a number of big employers have started offering more temporary or part-time positions.” Reuters reported on June 13 that Wal-Mart has already implemented a strategy of hiring more temporary workers
Major Newspapers link Obamacare to Increase in Part-time and Temp Jobs; Networks Ignore

So why did this happen under Obamacare?
For example... a small employer with say 49 employees wants to hire the 50th employee.
Under Obamacare an employer hires the 50th employee, the employer has to offer health insurance.

Monthly cost for health insurance for one month for one employee: $409.
By hiring that 50th employee: you have to buy health insurance at $409X50 employees equals $20,450/month.
So assume a small firm with 50 employees average gross revenue: $3,600,000
How Does Your Revenue Stack Up to Other Small Businesses? | QuickBooks

Net profit average per small firm is about 16%
What’s a Good Profit Margin for a New Business?

So now this small business with a net profit of $575,000 has this profit reduced due to Obamacare :
Net income before Obamacare: $575,000
Health insurance premium: -245,400
Net income after premium $330,276
percent reduction in net: Nearly 60% reduction in income.
HENCE...the employer says: hmmm well I won't hire one full time but two part-time!!!

 

[Dana7360]

You are confused Moon Bat.

That distinction goes to the worthless Negro piece of shit President. With the help of his dumbass Left Wing economists Obama increased poverty, decreased family income, inflicted tremendous debt, increased income disparity and had dismal income growth.

Then you can look at the idiot Democrat economists in California. It use to to the Golden State but now, thanks to Democrat economics, it has the worst poverty, most homeless, worst schools and most debt.

Liberals **** up everything they touch. They don't know any more about Economics than they know about History, Climate Science, Biology, Ethics or the Constitution.

And yet, bizarrely, it seems like most of America’s money and technology and education are centered in blue states.

The actual base of the GOP is Appalachia. Often referred to as “the white ghetto“.

Kentucky and West Virginia have five of the 10 poorest counties in the nation.

Appalachia is also the center of the worlds opioid addiction epidemic.
Not to mention a terrible hepatitis epidemic.

instead of Republicans hating blue states and the fact that they have the best schools and make the most money, perhaps they should look at blue states
And learn from their example? What is it blue states are doing right and why are red states failing so miserably?

Yeah, Califlakia, Oregon and Washington are awash in wealth and prosperity......(snicker)

California is the biggest economy by far...

Homeless people shitting in the streets and people abandoning Califlakia for states that don't tax the ever living shit out of them.......yeppers, Califlakia is going strong!!!

Property values in California are extremely high. Want to know why?

Capitalism.

Simple supply and demand.

People want to live there. Wages are higher. They have good jobs. They have good schools.

When there's a higher demand than supply, the price for the goods or services or real estate increases.

 

[Cellblock2429]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

/----/ Why do you want to pay more for stuff? How stupid can you be?

 

[colfax_m]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

/----/ Why do you want to pay more for stuff? How stupid can you be?

What do you mean pay more for stuff? Tax cuts had nothing to do with product cost.

 

[Brain357]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

/----/ Why do you want to pay more for stuff? How stupid can you be?

So you think companies gave some of those tax cuts back with lower pricing? That’s a good one. Love to see some proof of that.

 

[Cellblock2429]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

/----/ Why do you want to pay more for stuff? How stupid can you be?

What do you mean pay more for stuff? Tax cuts had nothing to do with product cost.

/—-/ How do you think corporations treat taxes, as an overhead that’s included in the cost to consumers or just monopoly money with no consequence? You blithering idiot.

 

[Brain357]

Those of us living in reality can now say that the corporate tax cuts were a failure that hurt revenue and did nothing for the economy. So the question is why? I think it likely has to do with the fact so many of our corporations are near monopolies. Curious what others think.

Trump handed big business a massive tax cut, and all he got in return was embarrassment

Two years after his administration passed a massive tax cut for corporations meant to spur economic growth, the verdict is in, and the results are embarrassing. The tax cuts did not "unleash animal spirits" (as the business media is so fond of saying). And it did not usher in a period of 3% GDP growth(as Trump's administration was so fond of echoing).

The plan did not — by any stretch of the imagination — "pay for itself with growth and reduced deductions," as Treasury Secretary Steve Mnuchin said it would back in 2017. In fact, the US budget deficit has grown by 50% since Trump took office.

/----/ Why do you want to pay more for stuff? How stupid can you be?

What do you mean pay more for stuff? Tax cuts had nothing to do with product cost.

/—-/ How do you think corporations treat taxes, as an overhead that’s included in the cost to consumers or just monopoly money with no consequence? You blithering idiot.

You have evidence that they lowered prices?
They just made more profits...