Why tax cuts don't create business growth.

Nope but nice try. My point is the Trump tax cuts overwhelmingly benefit the rich. The ruining the rich statement is moronic. Not giving a tax cut would hardly ruin the rich.

 

This will help your education assuming you are actually interested in facts instead of myths.

 

Ya so? And "claims" 80%" of the little guys will receive more money and some will not pay a cent! What's your obsession with what others make? Are you that bored that you "MUST" cry about something and those you haven't a chance of changing Think about it, Mr. Obatard had eight years and eight trillion what did he do to help you and your dismantling of the elite rich?

 

You are wasting your timetime. It's too simple of an argument.

 

You should write a book:

"How to live well on no income - and pay no taxes!"

How do you live on zero income, since you claim you spend all income on the business to not pay any taxes?

 

It is accurate that many businesses pull next year's expenses into the prior year, such as really stocking up on inventory. Also, most retailers want to minimize inventory by the end of the year to avoid property taxes in states where such applies.

The main reason taxes were pushed to as high as 90% for the truly rich was to force them to buy tax exempt T-bonds and otherwise loan the government money at a very low interest rate. This was not, however, free money to the government as it ultimately has to be paid back plus interest. However, the interest rate is usually less than inflation, so the government figures to come out a tiny bit ahead out of it.

The OPer is talking nonsense in that income taken out of the business for personal income is still taxes. Spending on tax deductions" NEVER equals the amount of taxes reduced. The same is true for charitable contributions. You can deduct those from your income, but not directly from the tax you owe. So spending 1000 dollars on a charity or other tax deduction might save you $300 or $400 - meaning overall you lost $600 to $700.

It reads like the OPer figured out how to file beyond the short form and sees it as some remarkable discovery.

 

Did you even read your own links???

"Lee and Gordon look at seventy countries over the period 1980 to 1997 and find corporate taxes are robustly associated with lower economic growth, while other taxes do not have a robust statistical association."

 

Pretty good summary.

 

SMH

 

I don't know what "data" you're referring to, since you provided no links and no proof, but every bit of unbiased data supports conservative economic policy positions. The only exception is Congressional Budget Office forecasts, which aren't data and are invariably wrong.

 

dead wrong and when Georgie porgie raised taxes economic growth dropped a percent and a half. Dot.com brought until the ridiculous Clinton justice department assault on Microsoft threw cold water all over it.

 

RW propaganda has claimed this.

Study after study has shown that in the last several decades, lower tax rates have not resulted in better economic performance, but have resulted in far higher deficits and debt.

How money is distributed is a function of government economic policy. A government has every moral right to levy progressive taxes in exchange for an economic system that allows folks to attain unimaginable wealth.

 

Another left winger that thinks his own money is the governments. I wonder how they get so brainwashed?

 

The Congressional Research Service published a paper in 2012 that found no correlation between top tax rates and economic growth. Congressional Republicans protested the findings, and the service briefly withdrew the paper.
https://www.politico.com/interactives/2017/gop-tax-rate-cut-wealthy/

I helped create the GOP tax myth. Trump is wrong: Tax cuts don’t equal growth.
https://www.washingtonpost.com/news...uts-dont-equal-growth/?utm_term=.1c1338dc515a

"Do we have any historical evidence that lowering tax rates, particularly among the richest strata, generates economic growth, as the Republicans always predict? Has this ever worked?" WASHINGTON -- The answer is "no." As Congress tackles "tax reform," we really don't have conclusive historical evidence of the relationship between tax rates and economic growth.
https://www.realclearpolitics.com/articles/2017/10/30/tax_cuts_and_economic_growth_135388.html

 

No, how money is distributed is a function of government economic policy. A government has every moral right to levy progressive taxes in exchange for an economic system that allows folks to attain unimaginable wealth.

 

My " obsession" is that if you are supposedly doing a massive tax cut which significantly raises the national debt and you rational is thst it is a middle class tax cut then the overwheming percentage of the benefits should not go to the rich but go to the middle class.

Dismantling of the rich is just another attempt and diversion. Nobody has wanted to dismantle the rich whatever that misuse of the English language means.

 

Always interesting to hear from someone who's vocabulary comes from beer commercials. And crap beer at that!

 

First, 1.x trillion over 10 years is a far cry from 'massive' and a calculation, not a fact. Second, this will help in many ways to keep the economy on the upswing which is good for everyone. Third, it made the income tax structure more progressive. Forth, the corporate tax rate will again help everyone since taxes are passed onto the consumers and more cash means fewer layoffs and possibly more hiring.

 

How on the world did it make the tax system more progressive when the vast majority of the cuts go to the rich.

And saying corporate tax cuts are passed on to the consumers indicates total lack of comprehension about the workings of the corporate structure or the economy. More cash in corporate coffers has no impact on layoffs and has no impact on hiring.

 

Do you not understand the difference between the income tax rates and corporate taxation?

The rich get a smaller percentage of a decrease than the middle class. More will also owe no taxes and those that do not pay taxes will get more in subsidy if they have children; thus, making the income tax structure more progressive.

Don't know much about how corporations work eh? I work for a global corporation that moved their financial headquarters overseas saving about 100 million a year and resulted in job losses here due to the old corporate tax structure.

Taxes are a cost of operation so all costs get passed onto the consumer.

 

Sorry that makes no sense unless you are ignorant enough to thing the only impact of the tax law is rate cuts. And what does a corporation moving it's headquarters overseas have to do with tax cuts. Your statement was that tax cuts possibly will result in more hiring ehich is nonsense.

 

Evidently you are not aware that income tax rates and corporate tax rates are two different things.

When talking about progressive taxation it only applies to the income tax rates and that has become more progressive.

You also don't think corporations like to expand and create new products, which with less money, they do less of. Evidently in your mind, corporations don't hire people for that.

 

Oh PUUULLLEEAASE, control your drama young man LOLOL! Mr. Obatard jacked it EIGHT TRILLION, "831 billion in his first year in office" and only 100 billion of it was shared between Science "Solindra" and so called shovel ready jobs" the rest went to Banks, corporations like GM and the creation of the largest group of government dependents the U.S. has ever seen! By the time Mr. Obatard left office he had "significantly risen the national debt" by eight trillion and barely managed to secure a economic growth beyond a 1.6% average!

Trump hasn't added any debt "Yet" from his policies or budget, he has almost doubled the Economic growth, market is up, 401K are on the plus side, unemployment is lower then Mr, Obatards "cooked figures" and the U.S. is healthier and more active simple because he replaced the last retard!

You and many of your ilk are crying about NOTHING! No debt added, all doom and gloom just a bunch of BASELESS rhetoric and childish behavior and teenage DRAMA Get your facts correct lil fella LMFAO

 

Correct, it's overall rates that affect economic growth, not just the top rate.

Every bit of evidence we have says high taxes retard economic growth. One man's opinion doesn't change the data. If you don't get economic growth from reducing taxes, you either didn't reduce them enough to make a difference or you increased taxes and regulations elsewhere, counteracting the effect.

Again, it's not the top rate that matters but the overall level of taxation. The top rate during the Eisenhower administration was 90%, but almost no one paid that, and the overall level of taxation was much lower then than it is now.

 

OK, then we can have a very high top rate and lower taxes for the rest.

Simply false. I gave three links. Do you want more?

See above. I agree that a tax policy that cuts taxes for middle/median income workers will be much more effective than cutting top tax rates in the environment we are in.