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The economy was losing around 800,000 jobs a month, companies going broke, record unemployment, mortgage defaults. Remember all the criticism for deficit spending and the damage to the budget. Whether you agree with the premise or not the Recovery Act was done for a reason and was for 10 years.
Yet here we are going into debt for $1.5T because our corporations are not competitive globally and our economy needs a supply side boost. It just doesn't seem to warrant this type of drastic action, no one has been able to credibly explain that this fits the definition of an emergency. The average effective tax rate for companies is around 23%, low interest rate and close to maximum employment so why do we need this at this time.
Article by Jeffrey Sachs an economist from Columbia University, critical of both the Stimulus Bill and this tax bill.
Business decisions are not made on the effective rate.
They are made based on the marginal rate.
In other words, if it cost me 39 cents to earn a dollar in the US or 14 cents to earn the same dollar in some other country, all things being equal, companies will choose to do business in that other country.
If after pulling the most profitable operations from a high tax country, the hodge-podge of leftovers (money-losers) may result in a lower effective rate, but that is only because we are an undesirable place to do business.
As for that illiterate static economic model, well, it's retarded and doesn't exist anywhere in the real world.
Actions have reactions.
A tax cut will result in investment and economic growth.
This will then tend to offset any revenue lost by the original cuts.
The hope is that these reforms will create long-term sustainable growth with brings down our debt with higher
revenues and new infused capital brought back into the country by outsourced corporations along with good paying outsourced jobs.
Obama's stimulus was a dud because the implementation was so incompetent, there weren't many of the shovel ready jobs he had claimed, the alternative energy companies he used were already bankrupt, and because the democrats refused to implement e-verify in the program due to lobbying from the hispanics, and it is estimated over 300,000 illegals were hired instead of Americans for many of the few shovel-ready jobs.
You loved the 9 TRILLION... don’t blame the recession for what you loved... the economy was okay how many years ago? When did the recession end? How many Trillions after that... the economy was fine, right? Guess that didn’t matter either...
It took years for the economy to recover after 2008, you don't turn that around in a year or two. That amount of job losses and closed businesses takes time, maybe you can point to some specific bills or actions other than the Stimulus that accounted for those types of losses.
When do you think the economy was fine, 2013, 2014??? Besides, congress wasn't going to approve any budget that significantly increased the deficit, we saw that in 2012. You keep on claiming Obama is responsible for the debt the last 8 years but you can't point to anything he has done, besides congress controls spending.
Business decisions are not made on the effective rate.
They are made based on the marginal rate.
In other words, if it cost me 39 cents to earn a dollar in the US or 14 cents to earn the same dollar in some other country, all things being equal, companies will choose to do business in that other country.
If after pulling the most profitable operations from a high tax country, the hodge-podge of leftovers (money-losers) may result in a lower effective rate, but that is only because we are an undesirable place to do business.
As for that illiterate static economic model, well, it's retarded and doesn't exist anywhere in the real world.
Actions have reactions.
A tax cut will result in investment and economic growth.
This will then tend to offset any revenue lost by the original cuts.
Some companies like GE and Google are paying close to 0%, do they care about this bill.
Yes a tax cut will result in some growth but it will not come close to covering the increased deficit, the economically literate understand that simple fact. Maybe you can find an economist that agrees this is a good idea.
The economy was losing around 800,000 jobs a month, companies going broke, record unemployment, mortgage defaults. Remember all the criticism for deficit spending and the damage to the budget. Whether you agree with the premise or not the Recovery Act was done for a reason and was for 10 years.
Yet here we are going into debt for $1.5T because our corporations are not competitive globally and our economy needs a supply side boost. It just doesn't seem to warrant this type of drastic action, no one has been able to credibly explain that this fits the definition of an emergency. The average effective tax rate for companies is around 23%, low interest rate and close to maximum employment so why do we need this at this time.
Article by Jeffrey Sachs an economist from Columbia University, critical of both the Stimulus Bill and this tax bill.
Obama added 10 Trillion Dollars of Debt (not 831 Billion). The National Debt went from 9 Trillion to 19 Trillion under Obama.....& We have ZERO to show for it. His Drunken Spending was NOT 831 Billion (which is what he promised and what you suggest was spent in your header).
Does Obama (or any Democrat) even know the Difference between a Billion Dollars and a Trillion Dollars? & if you know the Difference between $831 Billion and $9 Trillion, why would you say one number.....& the amount that he p*ssed off was the other number.
& does Any Media person or Democrat know the difference between a 1.5 Trillion expected Tax Cut over 10 Freaking years. (that's 150 Billion per year Einstein) that will bring Corporate Spending BACK to the US (which will create Jobs) & the 9 Trillion Dollar Give away that Obama & Bush 2 provided to the Wall Street Investment Banks and the 40% of Americans who are TAKERS.
It's the difference between a Socialist and a Capitalist. & the Difference between a Economic Juveniles and Adults.
Last edited by hound 109; 12-26-2017 at 09:19 AM..
The hope is that these reforms will create long-term sustainable growth with brings down our debt with higher
revenues and new infused capital brought back into the country by outsourced corporations along with good paying outsourced jobs.
Obama's stimulus was a dud because the implementation was so incompetent, there weren't many of the shovel ready jobs he had claimed, the alternative energy companies he used were already bankrupt, and because the democrats refused to implement e-verify in the program due to lobbying from the hispanics, and it is estimated over 300,000 illegals were hired instead of Americans for many of the few shovel-ready jobs.
Yes ~ that is the 'hope". But most economists say there is no way we are going to get that much growth - that that 'hope' is more of a 'pipe dream'.
The fact that we didn't go into a global recession when Obama was elected - means his stimulus package worked. W. drove the economy right into the ditch.
No one knows what will happen with Trump's tax plan - we'll have to look back and see.
Whatever good Trump does or doesn't do - it's overshadowed by his petulant, incessant, whining on twitter. No one wants an embarrassment for President.
Obama added 10 Trillion Dollars of Debt. It went from 9 Trillion to 19 Trillion. We have ZERO to show for it. It was NOT 831 Billion (which is what he promised and what you suggest was spent in your header). Do you (or Obama) even know the Difference between a Billion Dollars and a Trillion Dollars? Do you know the Difference between $831 Billion and $9 Trillion ??
& do you know the difference between a 1.5 Trillion expected Tax Cut over 10 Freaking years. (that's 150 Billion per year Einstein) that will bring Corporate Spending BACK to the US (which will create Jobs) & the 9 Trillion Dollar Give away that Obama & Bush 2 provided to the Wall Street Investment Banks and the 40% of Americans who are TAKERS.
It's the difference between a Socialist and a Capitalist. & the Difference between a Economic Juveniles and Adults.
So which specific programs did Obama enact that caused trillions in deficits, just name a few.
Speaking of economically challenged did you know that congress controls spending, not the president. The budget was controlled by the GOP for a large part of the last 8 years so why are you criticizing Obama, you should educate yourself before you type.
Which corporate spending is coming back to the US, name the companies that are coming home.
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