Why did the corporate tax cuts fail?

[Rambunctious]

When did we have 3% wage growth under Obama?

That's a long answer. The short answer is our capitalism is very broken.

That's a long answer.

You have 8 choices....if you use annual rates.

The short answer is our capitalism is very broken.

Obama didn't have 3% wage growth, because "our capitalism is very broken"?

Yes

But Trump did. He must have fixed what Obama broke......

Nope. Good wage growth is much higher. What we have now is weak.

OMG hopeless....

 

[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.

Hurt revenue??? How??

By collecting less than we should have.

How much "should we have collected?

Much more. It barely increased. It should increase a lot in a strong economy.

 

[Toddsterpatriot]

Trillion dollar deficits and slowing growth isn't good.

I agree, it wasn't good in 2011 or 2012 either.

I agree. So now that we agree the corporate tax cuts were a failure do you care to answer why you think they failed?

So now that we agree the corporate tax cuts were a failure

We had an uncompetitive corporate tax rate. Higher than any other large economy.
Making us competitive isn't a failure. Not even a little bit.

Corporate tax cuts are not welfare they are by design investments...investments that benefit or should benefit the people of the United States....if done correctly and honestly...

Corporate tax cuts are not welfare they are by design investments...investments that benefit or should benefit the people of the United States....

Were you harmed by the corporate tax cuts?

Solanda comes to mind...Obama's friends....you win some you lose some but by design tax cuts are an investment that brings jobs to a community and benefits the people not harm them....

Solanda comes to mind...Obama's friends..

Solyndra got a loan guarantee, not a tax cut.

but by design tax cuts are an investment that brings jobs to a community and benefits the people not harm them...

Were you harmed by the corporate rate cuts?

 

[Toddsterpatriot]

When did we have 3% wage growth under Obama?

That's a long answer. The short answer is our capitalism is very broken.

That's a long answer.

You have 8 choices....if you use annual rates.

The short answer is our capitalism is very broken.

Obama didn't have 3% wage growth, because "our capitalism is very broken"?

Yes

But Trump did. He must have fixed what Obama broke......

Nope. Good wage growth is much higher. What we have now is weak.

Good wage growth is much higher. What we have now is weak.

But higher than Obama had.

 

[Brain357]

That's a long answer. The short answer is our capitalism is very broken.

That's a long answer.

You have 8 choices....if you use annual rates.

The short answer is our capitalism is very broken.

Obama didn't have 3% wage growth, because "our capitalism is very broken"?

Yes

But Trump did. He must have fixed what Obama broke......

Nope. Good wage growth is much higher. What we have now is weak.

Good wage growth is much higher. What we have now is weak.

But higher than Obama had.

Pretty sure it’s currently below 3. Historically it is very weak.

 

[Rambunctious]

Solyndra got a loan guarantee, not a tax cut

Government investments come in different forms but they are investments none the same....NOT WELFARE.....don't fall for that crap...

 

[Billiejeens]

The economy continues to expand at a decent rate, unemployment remains low, and it seems that indicators for increased production output are in the positive territory. The Fed just decided that the economy is strong enough that they decided to leave interest rates flat, oh and China is nearing a tailspin economically, while Mexico is doing our work for us in keeping illegals out. They are also on board for the new trade agreement. Then there is the timely and well-managed regulation cuts.

Trump has screwed up, however. He has failed to cut government spending to acceptable levels. His spend-happy ways really make the GOP look like Democrat lite.

No, the tax cuts haven't failed. That is spin and lies in an effort to tarnish this administration's accomplishment, which aren't numerous enough, but there is another 5 years to go given the piss poor candidates the disloyal opposition is putting forth.

Until such time as Trump manages to cut spending (real cuts, not cuts in growth), I'll always consider his time as a 'push'.

You are aware that President Trump doesn't write the budget, or have any control over mandatory spending?

 

[Billiejeens]

It's funny how you have no real responses and just parrot yourself constantly.

It's funny how you have no real responses

You think the wage growth in 2000 was unrelated to the Internet Bubble?
Looks like mine was an excellent, on-point response.

You think wages growth hovering around 3% is good? Economists disagree with you....

You think wages growth hovering around 3% is good?

Sounds higher than we had under Obama......

Actually it's about the same.

When did we have 3% wage growth under Obama?

Never
The only 2 term resident to have that distinction.

 

[Billiejeens]

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.

Hurt revenue??? How??

By collecting less than we should have.

How much "should we have collected?

Much more. It barely increased. It should increase a lot in a strong economy.

How much more?

 

[Muhammed]

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

That was happening anyway.

You morons are so predictable....

Just like how predictable lower unemployment was, it was headed that way since 2010....

Since the 2010 Republican revolution.

The real turning point was breaking the Democrats' filibuster-proof supermajority in the senate. Thus preventing the Democrats' cap & tax legislation that would have been a death blow to the US economy.

What voters should be asking themselves is whether they are better off financially now than they were 10 years ago when the Democrats had total control of both chambers of congress and the white house.

 

[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.

Hurt revenue??? How??

By collecting less than we should have.

How much "should we have collected?

Much more. It barely increased. It should increase a lot in a strong economy.

How much more?

Well deficits have ballooned.

 

[Brain357]

Trump promised the tax cuts would pay for themselves and we would have 4-6% growth. They have drastically increased deficits and growth has gone down. That is FAILURE.

 

[Brain357]

Sounds like republicans have no answer for this failure. That's not good for the future.

 

[Muhammed]

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

That was happening anyway.

You morons are so predictable....

Just like how predictable lower unemployment was, it was headed that way since 2010....

Always gonna happen with the dems...headed that way....but never arrives...you get conned by them willingly...WHY?...dems are always going to fix things at least that's what the say and that's what their media says...but they never do...they just make things worse and make life more challenging for people that want to advance in life....
Trump has made what dems promise happen...he is checking off the swamps list of never achieved promises and getting shit done...
What do you do?...do you work?...are you retired?...are you employed by government?...how is it you can't see the truth for yourself?....I really don't understand folks like you and I'm happy as hell that your numbers are shrinking....

Remember when you used to claim to be tea party? How do you live with being such a hypocrite?

The Taxed Enough Already party is in no way hypocritical for advocating lower taxes.

 

[Brain357]

That was happening anyway.

You morons are so predictable....

Just like how predictable lower unemployment was, it was headed that way since 2010....

Always gonna happen with the dems...headed that way....but never arrives...you get conned by them willingly...WHY?...dems are always going to fix things at least that's what the say and that's what their media says...but they never do...they just make things worse and make life more challenging for people that want to advance in life....
Trump has made what dems promise happen...he is checking off the swamps list of never achieved promises and getting shit done...
What do you do?...do you work?...are you retired?...are you employed by government?...how is it you can't see the truth for yourself?....I really don't understand folks like you and I'm happy as hell that your numbers are shrinking....

Remember when you used to claim to be tea party? How do you live with being such a hypocrite?

The Taxed Enough Already party is in no way hypocritical for advocating lower taxes.

They are hypocritical for pretending to be fiscally responsible. When they were in full control they increased deficits with spending and damaging revenue.

 

[LAUGHatLEFTISTS]

What's it like lying to yourself day after day after day and knowing if you admit the truth your entire economic philosophy will be destroyed?

That seems like a good question for the trumpers. You see gdp growth went down last year?

You see gdp growth went down last year?

Was it higher than Obama's 1.6% in 2016?

How does it matter? It was lower than 2014 and 2015 and 2017 and 2018. Not what trump promised.

How does it matter?

Looks like Trump has improved on the economy Obama left him.

Looks like he increased deficits to a trillion dollars with no real growth. Again, lower than 2014, 2015, 2017, 2018.....

Would you mind sharing with the readers the deficit increases for 2012,2013,2014,2015 and 2016?

Didn't think so.

 

[Muhammed]

Sounds like republicans have no answer for this failure. That's not good for the future.

You morons are so predictable....

Just like how predictable lower unemployment was, it was headed that way since 2010....

Always gonna happen with the dems...headed that way....but never arrives...you get conned by them willingly...WHY?...dems are always going to fix things at least that's what the say and that's what their media says...but they never do...they just make things worse and make life more challenging for people that want to advance in life....
Trump has made what dems promise happen...he is checking off the swamps list of never achieved promises and getting shit done...
What do you do?...do you work?...are you retired?...are you employed by government?...how is it you can't see the truth for yourself?....I really don't understand folks like you and I'm happy as hell that your numbers are shrinking....

Remember when you used to claim to be tea party? How do you live with being such a hypocrite?

The Taxed Enough Already party is in no way hypocritical for advocating lower taxes.

They are hypocritical for pretending to be fiscally responsible. When they were in full control they increased deficits with spending and damaging revenue.

And you are simply lying again.

 

[CWayne]

The economy continues to expand at a decent rate, unemployment remains low, and it seems that indicators for increased production output are in the positive territory. The Fed just decided that the economy is strong enough that they decided to leave interest rates flat, oh and China is nearing a tailspin economically, while Mexico is doing our work for us in keeping illegals out. They are also on board for the new trade agreement. Then there is the timely and well-managed regulation cuts.

Trump has screwed up, however. He has failed to cut government spending to acceptable levels. His spend-happy ways really make the GOP look like Democrat lite.

No, the tax cuts haven't failed. That is spin and lies in an effort to tarnish this administration's accomplishment, which aren't numerous enough, but there is another 5 years to go given the piss poor candidates the disloyal opposition is putting forth.

Until such time as Trump manages to cut spending (real cuts, not cuts in growth), I'll always consider his time as a 'push'.

You are aware that President Trump doesn't write the budget, or have any control over mandatory spending?

You ARE aware that he has a veto, right?

 

[Dana7360]

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.

Tax cuts for big business and the wealthy never, ever help the economy. Tax cuts don't create jobs. Tax cuts don't raise wages for the working people of this nation.

All tax cuts do is explode the deficit and debt and make big business and the filthy rich, even more filthy rich.

 

[Billiejeens]

The economy continues to expand at a decent rate, unemployment remains low, and it seems that indicators for increased production output are in the positive territory. The Fed just decided that the economy is strong enough that they decided to leave interest rates flat, oh and China is nearing a tailspin economically, while Mexico is doing our work for us in keeping illegals out. They are also on board for the new trade agreement. Then there is the timely and well-managed regulation cuts.

Trump has screwed up, however. He has failed to cut government spending to acceptable levels. His spend-happy ways really make the GOP look like Democrat lite.

No, the tax cuts haven't failed. That is spin and lies in an effort to tarnish this administration's accomplishment, which aren't numerous enough, but there is another 5 years to go given the piss poor candidates the disloyal opposition is putting forth.

Until such time as Trump manages to cut spending (real cuts, not cuts in growth), I'll always consider his time as a 'push'.

You are aware that President Trump doesn't write the budget, or have any control over mandatory spending?

You ARE aware that he has a veto, right?

I am.