And yet, they are still wealthy.
Only Trump could pass across the board tax cuts and make it this unpopular…
Here’s hoping he pushes for single payer next, may be the only way to purge the idea from popularity.
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Trump did nothing, this is all GOP and their puppet masters.
Big picture isn’t that hard to see. It’s a big picture after all
True they don’t always do either one but many do and the positive effects of this will certainly help drive the economy.
In the case of an S corporation perhaps the principals want to pay themselves a cash bonus which is non taxable because an S is a “pass through” corporation. For example, If Joe Doe pays himself say 100-k, because that’s what he saved based on the Trump tax cuts and he purchases some high end vehicle with all the bells ands whistles he too has helped the economy as that is one more vehicle sold. Virtually any money put back into the economy whether it is by giving employees a bonus, expanding your business, or making a purchase is going to help grow the economic base. This is far better than sending to the money sink hole called Washington DC.
I agree nothing is simple when it comes to politics. And While I don’t want to argue any states particular economic situation California did start out with a large economy. And as of late they do have people fleeing the state and rather high unemployment. And it’s true that in some states where there were lower taxes they managed to screw it up by continuing to spend more than they have.
In the case of the Trump tax cuts I believe that the economy will grow from the added benefit of allowing more people and in this case more corporations to keep more of their money. But, we shall see after the tax cuts kick in. This will not be difficult to determine.
I’ve heard that many times from the left. But, I know that nothing ever “trickles up”.
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Politics right?
That’s not exactly true. If you recall Trump campaigned on lower taxes for the middle class and especially lower corporate taxes.
(By the way go change your shirt we look too much alike 
That’s ridiculous. Misery can trickle up.
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You have me on that one. But money does not “trickle up”.
Of course this is false. See Bush stimulus checks for example. Idea being people with less money are more likely to spend it than save it. I’m not even arguing that benefits don’t exist from tax cuts on the wealthy because they do. But what benefits would exist from a bigger middle class tax cut?
Let’s just not act like that’s the only possible arrow in the quiver. Let’s not act like this isn’t purposely directed to benefit the donor class mostly. The groups that spend millions on lobbying. A bank that was given an infusion of taxpayer money recently to stay afloat. Didn’t take people to long to get over too big to fail. And who were the groups fighting against reforms for the industry that were so successful? Let the good times roll again until the next crash.
The swamp that Trump said he would drain. A tax cut that we have no idea how much benefits the President because he won’t release his tax returns. The Republican Party has a lot invested in convincing people tax cuts that benefit the wealthy are more than anyone else are the key to a healthy economy. And the same people fall for it over and over again
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Of course. When you have no money coming in it’s easy to spend more than you have. Just a shame people want those roads, hospitals, child health care, education, etc. Look how well Brownback Kansas experiment turned out. We will be digging out his fuckup for years.
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John Maynard Keynes, is that you?
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But wait - you’ve changed the argument. This isn’t supply side growth, it’s demand side, and that’s entirely different for many reasons, not the least of which is that the economic impact of buying a truck (or other good) is the same whether a private citizen or a government agency did the purchasing. It’s not “better” from an economic growth point of view that the purchaser be a private actor.
That’s not what these tax cuts are being sold on - they’re being sold on standard GOP boilerplate about businesses finally having, via the tax cuts, desperately needed capital to go build factories and grow the economy by expanding supply, and the fact that this plan is foolproof, since it’s automatic this is how businesses will behave. But, as you concede, businesses don’t automatically do that when extra money shows up.
Wouldn’t it be better to tell voters the truth?
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Sure it is. For instance you complained about Obama’s vacations and the increases to the national debt early in his presidency. Trump does the same and…well who cares he’s a Republican. We’ll get back to complaining about those things when a Democrats back in.
What would be the Republican response if Obama didn’t release his tax returns and did this? What would your posts look like?
I agree with you on this completely. I think the middle class should have gotten an even larger cut.
Yes, as I said in an earlier post. That is what politics is all about on both sides. But, nonetheless it will still help the economy regardless of the reason behind it.
Each party’s nominee has released his tax return for the past 30 years or so. I don’t recall Nixon or McGovern releasing their returns. Anyway, who cares if Trump benefits from the tax cut? As long as America benefits… does it matter? Let’s not pretend that politicians of both parties have not benefitted from holding higher office. At least in this case the rest of us get to benefit as well.
Actually in this case that is not entirely true. There are plenty of wealthy doctors, lawyers and other highly paid professionals who will reap not a dime from this tax cut. This was all about leaving money in the hands of business people to stimulate the economy. And also leaving more money in the hands of the middle class …which it does do. It doesn’t do it to the point that I would have preferred but it is still far better than nothing. I think the average middle class tax payer will get to keep something like $1200 to $2400. I wish it were at least double that. But, getting to keep an extra $100 to $200 per month is still something that will help the middle class. And as I pointed out earlier if businesses do the smart thing and invest in their people the middle class will see an even larger gain.
That’s why they needed to cut spending. If a state spends less they can tax less. We know big government at every level is highly inefficient.
They did. In Kansas the budget has to balance. So when zero money was coming in spending had to be drastically reduced. The results were fired public employees, raising highway funds, closing mental hospitals, and many other things. Items that hurt the middle class. But good news the wealthiest people saved on taxes big time. I’m sure it was just a matter of time until that trickled down because it can’t trickle up.
Does it matter? Tax cuts if done properly are good for the economy.
Big difference- tax payers are not paying for Joe Doe to purchase his new vehicle. However under your government scenario tax payers are paying for how many government officials to decide that they need an additional truck? It’s waste and inefficiency that I dislike. And it seems to be all around and through big government.
[quote]
businesses finally having, via the tax cuts, desperately needed capital to go build factories and grow the economy by expanding supply, and the fact that this plan is foolproof, since it’s automatic this is how businesses will behave.[/quote]
As I stated above some businesses will expand…do you deny this? Some businesses will raise their employees pay and or give bonuses. Do you deny this? Some businesses will make capital expenditures. Do you deny this? And some business owners, (and I used an S corp as an example above) will keep the money and return it to the economy in some way. A vacation, a new car, an addition to their home etc.
All of the above is good for the economy. Whereas allowing the government to take more money does not have the same effect.