Poll of the Day > Two years later, Trump tax cuts have failed to deliver on GOP's promises

(+) Yeah! (+)

Color me surprised

https://www.npr.org/2019/12/20/789540931/2-years-later-trump-tax-cuts-have-failed-to-deliver-on-gops-promises

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Its almost like they were only done to benefit the rich

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no, im sure they met the promises they made to the 1%

Tax cuts simply aren't ever going to accomplish what Republicans say they will.

This idea that if you simply give money to rich people they will "do the right thing" with it is absurd.

Wow. What a surprise. I am so surprised right now. This is me being surprised.

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BlackScythe0 posted...

Tax cuts simply aren't ever going to accomplish what Republicans say they will.

This idea that if you simply give money to rich people they will "do the right thing" with it is absurd.

Distract with the left hand and pickpocket from the right.

Well, they certainly succeeded in giving us trillion dollar deficits during an economic boom.
Sure will be fun to see the chaos that unfolds when we go into a depression and the deficit REALLY balloons!

BlackScythe0 posted...

Tax cuts simply aren't ever going to accomplish what Republicans say they will.

This idea that if you simply give money to rich people they will "do the right thing" with it is absurd.

BTW, here's what the tax cuts actually do: Give companies tons of money to artificially inflate their own stock prices!

https://www.cnn.com/2019/02/10/investing/stocks-week-ahead-buybacks-mark-yusko/index.html

Instead of using its tax savings to speed up the economy, Corporate America is just "buying back stock to stimulate their stock price," Yusko said from the sidelines of the Cayman Alternative Investment Summit.
Yusko noted that prior to 1982, share buybacks were outlawed by the SEC. "I think they should still be deemed insider trading and illegal," he said.
Share buybacks are a common practice where companies repurchase their own shares as a way to return excess capital. Buybacks boost demand for shares and artificially inflate per-share earnings.
US companies announced a record-shattering $1 trillion worth of share buybacks in 2018, the first full year since the tax law took effect, according to TrimTabs Investment Research.
After perking up in the first quarter of 2018, business investment on job-creating items like factories and equipment decelerated.

Inb4 Zeus or the tall midget or oohjaa come to support Trump

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Jen0125 posted...

Inb4 Zeus or the tall midget or oohjaa come to support Trump

They'll claim it allows corporations to pay people better, but they aren't. Just like moving manufacturing to lower cost countries should have lowered the cost of those goods to the consumer to offset the loss of jobs in many areas but that didn't happen either. The CEOs just took larger bonuses.

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Jen0125 posted...

Inb4 Zeus or the tall midget or oohjaa come to support Trump

Which one is tall midget, 'cuz that kinda describes me... or I might just be a very short ogre

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SunWuKung420 posted...

They'll claim it allows corporations to pay people better, but they aren't. Just like moving manufacturing to lower cost countries should have lowered the cost of those goods to the consumer to offset the loss of jobs in many areas but that didn't happen either. The CEOs just took larger bonuses.

But muh job creation

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Lokarin posted...

Which one is tall midget, 'cuz that kinda describes me... or I might just be a very short ogre

That's his username

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And even if hes voted out next year, an establishment democrat wont undo the tax cuts.

Only hope is Bernie.

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or you know they could always fix the roads bridges

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Lokarin posted...

Which one is tall midget, 'cuz that kinda describes me... or I might just be a very short ogre

the tall midget is the troll poster who can't go two sentences w/o ranting about "lefties" and calling them morons and/or idiots

Somehow despite that, he seems to seldom be in purgatory

Jen0125 posted...

That's his username

ooooooooooooooooooooooooooooooooooooooh

dangit, I knew that and I slipped

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So are we pretending the overwhelming majority of Americans didnt see an increase in funds on their check as a result of the tax cut? Because they did. Mine went up by around $47 bucks.

BeerOnTap posted...

So are we pretending the overwhelming majority of Americans didnt see an increase in funds on their check as a result of the tax cut? Because they did. Mine went up by around $47 bucks.

Wow, 47 whole dollars? That's definitely worth all the negative effects it's had.

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Jen0125 posted...

Wow, 47 whole dollars? That's definitely worth all the negative effects it's had.

The economy is soaring and employment is at record highs. Which negative effects has it had?

BeerOnTap posted...

The economy is soaring and employment is at record highs.

How about wages and other compensation benefits? Are those soaring?

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the individual pays more tax then the corporations if that tells you anything

people with money they don't need to spend, spend the least amount of tax money

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BeerOnTap posted...

The economy is soaring and employment is at record highs. Which negative effects has it had?

They removed a lot of the deductions we were allowed to claim. So many folks are getting back less than before, and/or having to actually pay the IRS when in the past they never had to. I was talking to some truckers that explained how negatively this has impacted them.

And me, personally, get back way less than I use to. And it seems to not really had effected my taxes on my actual paychecks. So it seems my paychecks are the same but at the end of the year I get back almost nothing, when before Id get back thousands.

This year I went tax exempt almost the whole year because Fuck it.

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BeerOnTap posted...

$47

lmao

"Corporations and wealthy get billions, and I get $47!" What's that, $600 for the year? How does that stack up at all? Is that a meaningful increase? Even if you bank it that's not even $10K for a decade.

My math sucks, and not sure if you get paid weekly or every other week, but that's laughable

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BeerOnTap posted...

The economy is soaring and employment is at record highs. Which negative effects has it had?

Do you mean unemployment is at record lows? Unemployment has been low for years.

Also the "soaring economy" is inflated because of unprecedented amounts of stock buybacks by corporations which artificially inflates their stock value.

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