These 7 charts show Trump's tax cuts still haven't been the economic 'rocket fuel' he promised, 2 ye

These 7 charts show Trump's tax cuts still haven't been the economic 'rocket fuel' he promised, 2 years after the fact

https://markets.businessinsider.com...s-not-economic-rocket-fuel-2019-12-1028780773

"Treasury Secretary Steve Mnuchin, among others, said the law would juice the nation's gross domestic product to 3% (or more, as Trump said 6%) and soon pay for itself and spread prosperity.

But the law has achieved none of the ambitious goals that Republicans put forward - and there are scant signs they ever will.

There were short-term bumps in GDP growth and business investment that faded relatively quickly. Wages increased, but not to the extent Republicans promised.

And the law's hefty price tag has not been offset by more tax dollars flowing to government coffers. Corporate tax receipts are down 23% since fiscal 2017. The Congressional Budget Office projected the GOP tax cuts will widen the deficit by $1.9 trillion over a decade."

My take: This is an interesting article that shows seven charts of important economic indicators before and after the tax cuts. As many of us here continue to point out, NONE of the important indicators shows any significant change before and after the tax cuts.

What does show a change, however, is the rate of corporate stock buybacks. Also, what shows a change, but not included as a chart in the article, is the jump in government deficit.

What we are left with is a lot of GOP propaganda, touting prosperity from Trump policies, which is, however, not rooted in fact. Fact is that current economic conditions are not unusual at the latter stages of a long economic expansion, tax cuts or not.

 

Some are desperate to prove the economy isn’t booming because of Trump.

China just announce it is lowering tariffs for important products like pork.

 

The topic is your IMPOTUS's failed TAX CUTS, not his FAILED trade warmongering.

 

The Chinese Democrats/neo-commies would hold out in the trade war if they thought an American Democrat/neo-commie was going to win. A American Democrat/neo-commie would bend over and take it from the Chinese Democrats/neo-commies and sell the American people out.

The Chinese Democrats/neo-commies know if they hold out and trump wins, they won't get nearly as good of a deal.

 

Still denying the booming economy?

 

Still derailing threads?

 

Still denying the obvious?

 

Look at the charts in the article and tell me how they show a "booming economy"? Average 2.4% GDP growth under Trump. Under Obama, you would have called this pathetic.

 

So let me guess the economy is all somehow magically the Democrats doing even though they have had their heads buried in the septic tank of impeachment since the Republican primaries?

 

Ironic given the DENIALISM of IMPOTUS supporters.

 

Those charts tell the story loud and clear. The IMPOTUS's tax cuts did nothing FOR the economy and We the People.

The ONLY beneficiaries were the wealthy SHAREHOLDERS because of the massive corporate buybacks enabled by those tax cuts.

 

You mean like denying the booming economy? Not me.

 

I GUARANTEE! if the America's Economy was headed in the other direction and Millions of people were losing their Jobs, You! and every other Liberal on this Forum would be pointing Fingers at President Trump and blaming him, but because were economically really doing well right now, you don't want to give him NO credit. Liberals would actually rather see more people out of Work and Suffering, then to see a Booming economy if it is seen as a benefit to Donald Trump and his re-election.

 

If you understand the cycles of business expansion, and realize this one started expanding around 4th quarter of 2008. It’s safe to say that our economy is where we want it. Low, stable, and predictable is better than sudden inflation or deflation. Stable unemployment of around 4-5% keeps the labor pool where we need it. Problem is if anyone could predict when we are at peak, they are the ones making it rich.

Those 7 charts are not alarming at all. They aren’t some miracle cure to the economy either. They are just part of the cycle. 2.6% is not unacceptable, no matter what the talking heads tell you

 

Huh. Looking pretty good for the working class, isn't it? That used to be a promise from Democrats.

 

IMPOTUS supporters are denying that he is the beneficiary of the Obama recovery.

 

And I guarantee you that when the next recession hits, and it may well be under Trump, especially if he gets another term, you'll claim that it is just the regular business cycle. Or that it is the fault of Dems in congress. Or insert any other excuse of why the supply side economics, trickle down tax cutting scheme failed to work yet another time.

Me, I invest into the stock market (i.e. the American economy) no matter which party's president is in office. The Trump voters, not so much. They try to market time stock investment and business activities based on political ideology. Now tell me, who is really the one wanting to see America fail?

 

Baseless accusations with zero proof. Must be a democrat thing.

 

Looks like only the rich stayed rich during Obama...and they flat-lined. Other groups were inconsistent and unpredictable during Obama.

 

Well, just a few months back the msm was trying to talk America into a recession.

We’re doing pretty good.

 

My return on my 401K just this year would have taken 8 years under Obama.

 

Non sequitur deflection attempt duly noted and ignored.

 

Trump-o-nomics has been a great victory for the American people, particularly in jobs provision for the working class.

https://www.wsj.com/articles/tax-reform-has-delivered-for-workers-11577045463

 

That’s not the way it works.

 

Lower scale wages have risen the highest.