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Corporate tax cuts never trickle down to the worker.
Carrier used their multimillion tax cuts that Pence arranged to automate and lay off more workers.
Companies automate because it's less expensive in the long run. btw Do you have any proof that the tax cuts were specifically used to automate or were they used to stay profitable so they can continue to employ people?
Lobbying and special interests muck up the whole Washington affair and both sides do it to our detriment. Grassley showed his true colors with the ethanol issue.
The biggest benefit to any worker throughout history is a labor shortage.
Corporate profits do not go to the worker. But any worker who will live within his means can profit from those corporate profits if he wants to, through his own investment actions.
Whining about some corporation getting to keep their money is silliness, and nothing else.
The biggest benefit to any worker throughout history is a labor shortage.
Corporate profits do not go to the worker. But any worker who will live within his means can profit from those corporate profits if he wants to, through his own investment actions.
Whining about some corporation getting to keep their money is silliness, and nothing else.
sigh.
why cant people understand that it isn't about corporations making money I don't care. what I do care about is that corporations don't pay taxes. their customers do.
corporate taxes are 2 things.
1. terribly regressive
2. hidden
It looks like the house is going pass the senate budget which will increase debt by over 1 Trillion dollars. Following passage of this budget they are trying to ram through tax cuts. How are we going through pay for all of this?
"How are we going through pay for all of this?"
The SAME way did it in the past.
You might want to brush up on your history of tax cuts.
JFK LOWERED taxes and the economy grew.
Reagan LOWERED taxes and whe had one of the largest economic growths in decades.
W, Bush LOWERED taxes and revenues to the fed INCREASED setting new records for the amount of money the fed took in.
We have a "consumption" economy.
The MORE money people have in the pockets, the MORE they spend.
The MORE they SEND the MORE the economy grows.
The MORE the economy GROWS the MORE money the fed takes in.
The debt of a sovereign nation, denominated in its own currency, does not ever need to be paid off in full. It is constantly being 'recycled,' debt is paid off and re-issued.
The VAST majority of our debt is owned by the American people and American institutions. And because of the Federal Reserve Bank's ability to create dollars, it is impossible for us to run into a situation where we "cannot borrow any more." There are theoretical consequences for monetizing our own debt, but it is literally not possible for the govt to run out of money.
Sovereign nations aren't people, they don't die, and they don't have "creditors" in the typical sense we think of. The Chinese, the Saudis, they buy our bonds for their own benefit, not as charity. It's nice that they do -- don't get me wrong -- but it's not much of a problem for us if they were to stop.
Debt cannot be allowed to grow "infinitely" -- it needs to be anchored in some way to national GDP, national wealth, and national income, or else we will have inflation. But it is an inexact science, and we aren't experiencing inflation right now, and contrary to popular belief there is no set standard for what constitutes "too much debt." There is no magical point where inflation starts to occur. Most of the calls you see to "Reduce the national debt!" are done so out of political convenience to screw over the opposing party, not out of economic necessity.
This is an issue that, for some strange reason, about 80% of Americans do not understand. I don't really know why, but the conventional wisdom about the national debt is totally wrong.
How can we continue running a deficit budget, and running up the national debt?
What possible justification is there for tax cuts when we are already in the hole?
Reagan's tax cuts tripled the national debt and that was even after numerous tax increases during his administration. Reagan left so much structural debt to the first Bush that even with more tax increases, the National Debt went up another 50%.
Bush Jr.'s tax cuts didn't work any better.
Why is Rand Paul the only R who voted against their deficit budget that runs up the national debt another trillion dollars?
What happened to the "fiscal responsible" Republicans?
"How can we continue running a deficit budget, and running up the national debt?"
Note: You NEVER said anything CLOSE to tis when Obama ran up the debt.
I wonder why?
And ole harry reid, "A budget, we DON"T NEED a budget"
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