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Its still too early to predict the impact of the tax cuts but at this point the results are not as predicted. Some companies are investing the gains in buildings and machinery but the wage growth is pretty average. The companies that repatriated their profits are investing a large percentage in stock buy backs. Meanwhile the deficit is increasing dramatically.
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Nearly a year after the tax cut, economic growth has accelerated. Wage growth has not. Companies are buying back stock and business investment is a mixed bag.
The $1.5 trillion tax overhaul that President Trump signed into law late last year has already given the American economy a jolt, at least temporarily. It has fattened the paychecks of most American workers, padded the profits of large corporations and sped economic growth.
Those results weren’t a surprise. Economists across the ideological spectrum predicted the new law would fuel consumer spending, in classic fashion: When the government borrows money and dumps it into the economy, growth tends to accelerate. But Republicans did not sell the law as a sugar-high stimulus. They sold it as a refashioning of the incentives in the American economy — one that would unleash more investment, better efficiency and higher wages, along with enough growth to offset any revenue lost to the government from lower tax rates
Its still too early to predict the impact of the tax cuts but at this point the results are not as predicted. Some companies are investing the gains in buildings and machinery but the wage growth is pretty average. The companies that repatriated their profits are investing a large percentage in stock buy backs. Meanwhile the deficit is increasing dramatically.
I support tax cuts for everyone. Now lets see drastic spending cuts
Spending cuts are difficult, tax cuts are a piece of cake unless you worry about deficits. If done correctly spending cuts should always be addressed first, then tax cuts.
Repeat after me: Trickle Down Doesn't Work. It's been an abject failure each time it has been tried.
Well Kudlow and Trumps other economic team still believe that trickle down works and that they pay for the cuts.
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