Why tax cuts don't create business growth.

Don't you just hate it when you've got nothing to defend the hypocritical left 1%ers?

 

Well it does spread poverty well. Trying to equalize outcomes is a horrible idea. The Previous tax code concentrated wealth it didn't spread it.

 

If you were a mathematician you'd understand that a smaller percentage of a much larger pie yields more pie. The problem with the left is that against all reason they assume economic growth is magic and is wholly unaffected by anything they might want to do.

 

Corporation expsnd based on demand . Corporations already had record amounts of cash before the tax cuts.

And please explain how is 80% of the benefits od the tax plan go to the rich how that makes the individual tax system more progressive. Or did you really think that the only thing that matters is the top rate per income bracket. Do you even know how taxes are calculated?

 

I already explained it but hey, some people have a hard time with numbers. More people are taken off the tax rolls, the richest get a smaller percent of reduction in taxes; thus, making the income tax structure more progressive. Really easy to understand.

 

lust for power creates jobs.

 

If you are the slightest bit aware you know the money spent in the Early Obama years was to save the economy from the Bush recession.

And as you are well aware, and every chart shows, the growth during the Trump administration is no more than a continuation of what Obama put in place. Up till the tax plan the Republicans have not passed one single piece of legislation that would have any measurable effect on the economy. Pull you head out of your posterior and start dealing with facts instead of trying to create them for the glory of your golden idol.

And what is even more idiotic is you claim to believe the numbers now that Trump is in office but they were " cooked" when Obama was President. You probably shouldn't call other people " lil fella" is you are going to engage in such juvenile thinking.

 

Well the one thing for sure is America has been steadily lowering the tax rates and the national debt has been steadily increasing. Yes you can find blips but the overall trend is inescapable

 

Um, you haven't actually posted numbers. You do know what they are right?

And it is very simple if the overwhelming percentage of the benefits of the tax plan go to the rich the tax plan cannot possibly end up being more progressive.

https://www.theatlantic.com/business/archive/2017/12/the-7-myths-of-the-gop-tax-bill/547322/

 

the right always wants to give tax cuts to the rich, the left wants to give them to the middle class on down

 

And yet some people just think it is magic that the rich keep getting richer while everyone else stands still. Trickle down only fools the fools.

 

Still not aware how the income tax works eh?

 

So you got a bi-partisan tax change, so what's you complaint again?

 

Show me how Mr. Obatards recovery worked

 

Pardon Hoosier. He operates in backwards land

 

Meh, corporations sat on cash because of the unfriendly administration before this one.

 

What a crock of crap.

Would a business intentionally pass uo expansion that earns them more money because they don't like whoever is in the White House?

Maybe in Hoosierland...

 

They certainly moved their financial headquarters overseas under Obama.

 

Why? What have you got against rich people that you don't think they deserve to keep their own money? A survey some years ago found a surprising agreement among the great mass of people that rich people should pay about 25% of their income in taxes. Since the current top rate is 49.6%, and the Alternative Minimum Tax eliminates most of the advantage of deductions, most rich people are paying far more than most people think they should already.

I pointed out why they didn't prove what you thought they did. Instead, try explaining why the ten lowest tax states are growing much faster economically than the ten highest tax states. Or why the ten lowest tax countries are growing much faster than the ten highest tax countries, not even counting communist ones.
https://www.therichest.com/expensive-lifestyle/lifestyle/the-10-countries-with-the-lowest-tax-rates/
https://www.worldatlas.com/articles/countries-with-the-highest-taxes-in-the-world.html
https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate
(The European high tax countries are generally mired in growth rates of 2% or less while the low tax countries almost all have growth rates over 4% a year.)

50% of the population already pays nothing in income taxes, barring Social Security and Medicare. The bottom quarter qualify for the Earned Income Credit, which gives them money back. How much lower would you like to see taxes on the middle class? The top 10% of the population currently pays something like 90% of all income taxes. Seems like it's time to give those people a break. And I say that as someone with ZERO income and no assets of my own. I'm poor because of my own choices and limited thinking, not because of "rich people".

 

You were the one saying the top rate doesn't matter.

I don't have anything against rich people. But I want middle class working people to share in the economic gains they helped produce.

What do you have against middle class working people?

Rich people are getting 25% of the gross national income, so why shouldn't they pay 25% of the taxes?

They pay FICA taxes and sales taxes and excise taxes and tolls.

 

It isn't the sole driver of economic growth. It does matter for the purposes of what I guess you would call fairness.

They do.

Nothing. I'm all in favor of reducing taxes across the board. But don't leave "the rich" out of it. I think the top rate should be right at 25%, not 50%.

They're paying 90% of the taxes.

FICA is broke. You can't cut those taxes without cutting Social Security benefits, and I guarantee you no politician is going to cut old people's money, because old retired people vote in much higher numbers than young working people. Sales taxes and tolls are collected at the state and local level. The feds can't cut those taxes. And there's an unfortunate tendency among states to raise taxes at the same time the feds are cutting taxes, reducing the effectiveness of the federal tax cuts to grow the economy. I agree with you, though, the most regressive taxes are collected at the state level, including sales taxes, tolls, fees for things like license plates, driver's licenses, occupational licenses, etc. They hit the poor and middle class far harder than they hit the rich. I'd like to see the rates of all those things reduced. I'm not sure I'd go for Europe's progressive speeding ticket plan, though, where one Swedish man ended up paying a million dollar ticket for doing 186 mph in Switzerland because the tickets are based on income, not just speed.
https://www.thrillist.com/cars/the-most-expensive-and-biggest-speeding-tickets-ever

 

They pay FICA taxes and sales taxes and excise taxes and tolls.[/QUOTE] NOne of which are income taxes and if you aren't gainfully employed you don't pay Fica.

 

Far more complex than you make it out to be. You don't expand when you do not figure you can recover the costs of doing so in a reasonable period of time.

Dead wrong in fact especially at the top taxes have mostly been stagnant since the first Bush administration, and the corporate tax rate has been flat and too high for forty years. And please some one explain to me how you get a larger more vibrant Middle class by taxing the crap out of the people that pay middle class wages unless of course you define middle class strictly as government workers. And even then you still reach a point of diminishing returns.

 

They basically haven't since 1981. Virtually all the growth in the economy since then has gone to the top 10%, and virtually none to the bottom 90%, the middle class working folk.

Remember when conservatives pretended they cared about the deficits and debt?

Until Jan 20, 1017.

That is false, unless you define "rich" very broadly. Certainly not just the top 1% or even 10%.

Regardless of who levies them, middle class folk pay them.

As for FICA, you could eliminate the income cap and the exemption for investment income, and then lower the rate for working people.

 

And that has what to do with anything? You were making some off the wall claim that because Obama was in the White House corporations all of a sudden lost their understanding of supply and demand