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Old Yesterday, 09:40 AM
 
7,276 posts, read 2,566,505 times
Reputation: 3695

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Tax cuts boost the economy, but the timing of those tax cuts are important, and an economy already recovering from recession with a relatively low unemployment rate was not the ideal time to add deficit spending to get the most economic bang for the buck.

Quote:
The US economy grew robustly in late 2017, perhaps partly due to expectations for a coming tax cut (which Congress passed in late December of that year). But the rate of growth peaked in the second quarter of 2018 and has been slowing ever since. Last Friday, the government estimated that, after adjusting for inflation, the economy grew at an annual rate of about 2.1 percent in the second quarter.”

“Indeed, the growth rate in the April to June 2019 period was below the 2.3 percent average annual rate over the past decade.”
https://www.taxpolicycenter.org/taxv...ut-growth-rate

Now we have low growth rates again, with a lot more debt that’s getting a lot worse every year than it was before the tax cut.

Winning!
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Old Yesterday, 09:45 AM
 
Location: Washington State
18,887 posts, read 9,721,053 times
Reputation: 16085
Thank you 2018 Blue Wave, you've managed to slow down growth Dims...Congrats!

Considering Nancy crashed the world's economy last time she was Speaker, there's hope she can do it again.
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Old Yesterday, 10:02 AM
 
8,153 posts, read 7,362,165 times
Reputation: 6501
He cheated on the graphic. The tax cuts weren't effective for four more months. The growth rate peaked in mid 2018 as companies booked orders ahead of Trump's tariffs.
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Old Yesterday, 10:38 AM
 
15,635 posts, read 4,145,106 times
Reputation: 11238
More MAGA - for a few on Wall Street.....maybe.....for others? Nope!

"The Dow is up nearly 300 points after a poor manufacturing report.

A weak manufacturing report has given investors hope that the Fed will once again cut rates later this year. The Institute for Supply Management said US manufacturing activity was at its lowest level since August 2016."
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Old Yesterday, 10:38 AM
 
Location: Sonoran Desert
29,438 posts, read 39,892,028 times
Reputation: 18863
The Fed doesn't cut rates in a strong economy. Trump is slowly destroying the Obama recovery.
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Old Yesterday, 10:49 AM
 
Location: Sonoran Desert
29,438 posts, read 39,892,028 times
Reputation: 18863
Quote:
Originally Posted by craigiri View Post
More MAGA - for a few on Wall Street.....maybe.....for others? Nope!

"The Dow is up nearly 300 points after a poor manufacturing report.

A weak manufacturing report has given investors hope that the Fed will once again cut rates later this year. The Institute for Supply Management said US manufacturing activity was at its lowest level since August 2016."
The stock market has become totally unhinged from reality in the last few months. Instead of looking and reacting to increasingly worrisome economic data, they wait for Uncle Sugar to spread some love to keep the bubble from bursting. They probably won't be disappointed, but eventually the house of cards will collapse just like it did in '07/08. The Fed does not have enough tools left to head off this next recession or to speed recovery. But there is always debt.
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Old Yesterday, 10:50 AM
 
3,559 posts, read 2,545,021 times
Reputation: 6873
There is a worldwide economic slowdown. The second quarter growth rate BEAT expectations.

Hate to tell you losers, but there is a rate cut, the worldwide economy will pick up, and some kind of deal with China is not out of the question. The economy is fine and will come roaring by the next election.

Four more years.
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Old Yesterday, 10:53 AM
 
Location: Sonoran Desert
29,438 posts, read 39,892,028 times
Reputation: 18863
Quote:
Originally Posted by cachibatches View Post
There is a worldwide economic slowdown. The second quarter growth rate BEAT expectations.

Hate to tell you losers, but there is a rate cut, the worldwide economy will pick up, and some kind of deal with China is not out of the question. The economy is fine and will come roaring by the next election.

Four more years.
Wishful thinking. The US growth rate is limited because of an aging population as much as it is by Trump's blundering. 1-2% is the new norm. If we want to see growth above or even at 3% we are going to have to start turning out a lot of babies or bringing in millions more young immigrants.
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Old Yesterday, 10:55 AM
Status: "North of Palm Trees, South of High Taxes" (set 28 days ago)
 
Location: Noth Caccalacca
5,650 posts, read 6,723,297 times
Reputation: 4970
Quote:
Originally Posted by cachibatches View Post
There is a worldwide economic slowdown. The second quarter growth rate BEAT expectations.

Hate to tell you losers, but there is a rate cut, the worldwide economy will pick up, and some kind of deal with China is not out of the question. The economy is fine and will come roaring by the next election.

Four more years.

Or ...the economy will take a downward turn just about the time next August comes around and it will bite Donald in his large rump!
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Old Yesterday, 10:58 AM
 
Location: Little Rock, AR
3,070 posts, read 945,681 times
Reputation: 1925
Employee wages are up 5% in 2018, companies are no longer moving out of the US due to the tax plan. Lots of great things happening right now that aren’t reported on in the mainstream media

https://www.google.com/amp/s/www.wsj...se-11564529382
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