Why? Shouldn’t affect those kids. They never had one.
“Hey Jim, how did Greg’s mom die again?”
“Getting railed by 3 strangers from a bar.”
“Oh yeah now I remember.”
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LOL! Good one, kid!
It’s not that it doesn’t work. It just doesn’t play out proportionately, especially in a developed nation. I’d still argue a large factor still has to do with cronyism/corporatism, though.
So… any White guy here with a punchable face wanna be filmed standing still and smiling at me while I approach you doing Tai Chi moves? We’ll split the spoils from the lawsuits evenly.
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Before the trump tax cuts the US had corporate tax rates 17% higher than the 20 nation OECD average. We also had some state and federal regulations that made it near impossible to be competitive for companies competing globally. People and businesses respond to incentives. The trump tax bill was a leveling of the playing field.
I think the excess regulation is a bigger impediment to an economy. Read a multi think tank analysis that said the US economy would be $150 Trillion without “excess” regulations. Even if that’s half correct it’d be $75 Trillion, or 350% of what it is now.
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It’s not that I don’t agree with this and I’m with you on general principle. But it’s still about the disproportionate “trickling down effect” playing out in real life. IMO, for it to really work, you would have to have a society and government with proper reduction and leveling of regulations, relatively free of cronyism, increased education and interest in the STEM fields, purely non-political government spending, a culture of entrepreneurship and a non-existent welfare culture. These are all contradictory the interests of politicians on both sides lol.
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I can get behind the less regulation. Is it the just happens tax cuts or is it a continuation from their sharp rise in 2014-2016?
What would have happened if the tax cuts went exclusively to the poor or middle class? Or say a smaller decrease in one to increase for those two?
I haven’t really looked at the data just wondering.
Let’s hope trends continue to play out.
What do you mean by “disproportionate?”
The government would continue taking a lot more money from people. I’m pretty sure no one even remotely close to “poor” pays any taxes the Federal government can cut.
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What we are seeing in developing nations is similar to the article you posted. It doesn’t the cover point I am alluding to regarding the effects of cronyism that persist in developed nations once rapid growth has stalled and a culture of welfare has developed. Economic inequality as a result of these are what further hinders growth and widens the wealth gap. While I’m not opposed to the idea of income inequality occurring as a natural result of the free market, what we have is NOT a natural occurrence since, in reality, markets aren’t really free. These things are largely caused by government, and ironically, it also has to be mitigated by government social policies IMO because it’s how the world we live in works.
*I don’t fully agree with all the points in the above articles.
**“Affirmative action” has to be viewed separately what I understand it to be in the US.
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Why?
And why did Republicans not mention it much while running in 2018? It’s supposed to cost over 2 trillion in the next ten years and the deficit is already rising fast.
Was the “cost” worth it? I’m not pretending to know. I’m guessing you and I look at “cost” differently when you view taxation as theft. Not even saying that’s a bad way to look at things.
As the result of this tax cut will the wealthiest people in the country see a significant increase in their wealth? Will the poor and middle class see a huge increase in their wealth? Would doing something different have lead to a better outcome for them?
The top 1% have owned more wealth than the entire rest of the world since 2015. Maybe it doesn’t matter. Maybe that’s a good thing? I’m not saying things need to be or should be equal. It’s just pretty striking right?
Goddamn illegal immigrants. Oh wait. I am glad that he was found before the thoughts and prayers responses.
What a psycho.
Because there’s much more to take from the people benefitting the most from any recent cuts.
What’s supposed to cost over 2 trillion?
*Edit(forgot to respond to this paragraph):
What cost?
Doubt it.
Doubt it.
For whom?
Why would a group that pays no taxes see a benefit from a tax law change? That would be like me benefitting from new piloting licensure regulations when I don’t fly planes.
The poor won’t build wealth because the poor spend every dime they get ahold of on stupid things. They also make bad decisions for generations in a row. The middle class is just a nice name for the working poor (tax cattle). They’re just poor people (small balance sheet) with some more toys and luxuries. They don’t save and invest either. You can’t build wealth in up to your eyeballs in debt with no plan.
What’s odd is the solution to get and stay out of poverty in the US is simple:
"Let politicians, schoolteachers and administrators, community leaders, ministers and parents drill into children the message that in a free society, they enter adulthood with three major responsibilities: at least finish high school, get a full-time job and wait until age 21 to get married and have children.
Our research shows that of American adults who followed these three simple rules, only about 2 percent are in poverty and nearly 75 percent have joined the middle class (defined as earning around $55,000 or more per year). There are surely influences other than these principles at play, but following them guides a young adult away from poverty and toward the middle class."
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The Trump tax bill was a tipping of the playing field towards America. We have insanely lower regs than Europe, and they tax money more heavily on the way out.
We went from being roughly equivalent (all in) to massively ahead.
No levelling involved
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And in the end they will still be happier and enjoy life more than us.
Right. The yellow vests, Brexit, PIGS being insolvent, push back on welfare migration and the advance of anti establishment candidates across Europe are a clear indication of that.
Pretty much. And it definitely invalidates any laughable thought that the tax bill was about levelling.
That being said, if the GOP had followed through on a balanced tax act where they ACTUALLY hit deductions and loopholes in exchange for the lower rate, it’d probably be a different story.
I was responding to @zecarlo about Europeans bring happier than muricans
Your point about regulation is well met. But shouldn’t we want to be the most attractive business climate possible? We need jobs for the tax cattle after all. Otherwise we can’t pay for all this dumb stuff government does.
And the loopholes will never be closed without a huge paradigm shift. The cronies paid good money for congressmen to write them.
We didn’t already have that? America wasn’t ranked the #1 place in the world to run a business pre tax change? That’s news to me
Skilled unemployment is sub 1%. Unskilled ~3%. We’ve got plenty of jobs
Then, imo, the tax rate shouldn’t have been touched. It’s not like that 39% tax rate was actually being paid by anyone.
But Amazon continues to thank us for our patronage
Edit: I spell like forest gump