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Will tax cuts spur the American economy? Maybe with a time machine.
National Political Columnist
December 7, 2017
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Buyback of stock has started with T-mobile and Home Depot.
One wonders.. With the markets at all time highs.. Unemployment low, increases in military spending on the horizon, more seniors retiring and tapping into social security and Medicare, and 21 trillion and debt.... Why is it exactly we feel compelled to do a tax cut?
Jerry Mandering Republican
Carrier, the company President Trump pledged to keep on American soil, informed the state of Indiana this week that it will soon begin cutting 632 workers from an Indianapolis factory. The manufacturing jobs will move to Monterrey, Mexico, where the minimum wage is $3.90 per day."" ""Over the past year, Trump has claimed he could maintain at least 1,100 of those jobs in the United States. But on Monday, the company gave official notice to Indiana officials that it would start laying off workers at the factory on July 20 and keep slashing staff until approximately 800 factory employees remain.""
I'm the treasurer of a $100M business. We already have enough people to run this business. A massive tax cut isn't going to translate into us running out to hire people. What we need is for our business to expand, and the only way that happens is if regular, middle class American consumer start buying more stuff. Given that this tax cut isn't going to help those people, it's unlikely we'll be doing anything with our tax break other than paying dividends to shareholders. That's reality.
Corporate buyback of stock has already kicked into high gear.
Next thing they will want is a large new tax to pay off their debt
M T Wallet
As a conservative, I am NOT impressed with the current tax bill in congress.
I don't care how much you cut tax rates for the poor, if the rich are getting all the advantages then it helps only them. As mentioned by others, companies need to sell their products in order to expand and hire. If people cannot afford to buy, the economy stagnates. The rich, will always be rich. The investors of these corp. giants, are looking for returns on their money. Cutting taxes for them does what for the worker,, make us fell better ? Sales is what drives the economy. People with the disposable income to buy. If business wants to make money, they need to keep the worker spending.
Antichrist is Caucasian
The rich do not feel anyone else deserves to share in their riches. Just look at the Carnage in Chief himself. He's insisted that he will "donate" his salary to "charity" all the while his resorts are making record profits (which go into his pockets) every time he takes a vacation in one of them. Do you really think he's going to comp the room and board of all his staff and all his Secret Service?
It's probably up to $20 million that he's cleared now from the US Treasury. $400,000 to charity on an income of $20,000,000. That's about what you can expect from any of these top 0.01% folks that get their tax breaks. 0.02% to others is a good ratio to them.
Cutting taxes thinking it will spur the economy is like thinking coal will make a huge comeback.
Tax cuts for the wealthy only make the wealthy more wealthy , does not create demand , does not create jobs . Means less money in the treasury so they have an excuse to cut Medicaid , Medicare and social security .
if you are say younger than 50 and are expecting medicare and social security to be there in the same way it was for your parents you are going to be very disappointed....
The cover story is economic stimulus. It's actually welfare for the rich, with the added bonus of gutting government finances to the point that spending on certain programs, such as Social Security, must be curtailed. This is going to be fun to watch.