Trumps GOP tax bill is a flop after only 6 months. (Reagan)
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America is a nation of sheep that think they’ll be wolves someday. So the sheep vote for policies favorable to the wolves. When the sheep can’t figure out why they keep getting eaten, the wolves tell them that it’s someone else’s fault.
You agree that the tax cuts will increase the deficit, but you don't want to post that information?
I understand that currently they are running about 50million more, and the forecast (forecast) says they are supposed to go higher, lets wait and see, shall we?
I understand that currently they are running about 50million more, and the forecast (forecast) says they are supposed to go higher, lets wait and see, shall we?
When the Congressional Budget Office released its updated budget forecast, everyone focused on the deficit number. But buried in the report was the CBO's tacit admission that it vastly overestimated the cost of the Trump tax cuts, because it didn't account for the strong economic growth they would generate.
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In any case, the CBO now expects GDP to be $6.1 trillion bigger by 2027 than it did before the tax cuts.
The CBO report also makes clear that this faster-growing economy will offset most of the costs of the Trump tax cuts.
In a table buried in the appendix of the CBO report, it shows that, before accounting for economic growth, the tax cuts Trump signed into law late last year would cut federal revenues by $1.69 trillion from 2018-2027.
But it goes on to say that higher rate of GDP growth will produce $1.1 trillion in new revenues. In other words, 65% of the tax cuts are paid for by extra economic growth.
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Originally Posted by LifeIsGood01
The $4k average pay raise did not pan out, wages have gone done instead.
According to official data wage growth has been around 4.5% so far this year and inflation has been around 2.5%
Corporations are not putting that money back into the economy, they are doing stock buybacks and paying dividends instead.
Companies are actually mostly sitting on it. The biggest choices are to pay debt, fund growth, pay shareholders, pay employees or hold cash. Some companies are doing a little of all, some are doing a lot of one. If you look at these charts then you might get a better feel.
1 other thing I would mention is that paying dividends and stock buybacks help anyone invested in those companies, which millions of people do with 401Ks, IRAs and Pension systems. Also, a lot of that money is actually coming from offshore funds being repatriated and not the tax cut.
the GOP claimed it would stop job outsourcing but the opposite happened.
Companies move here, they move there for all sorts of reasons. Pointing out some rando company and going ahaaaa! isn't particularly useful. One thing I can point to is the that the US unemployment rate is at 3.8% and thats the lowest its been in 50 years. Kind of hard to say there is a big outsourcing of jobs when we are at near record low unemployment rates.
Most knowledgeable people knew this would happen. More trickle down complements of the Republicans. The party of big money and big business. Don’t have either of those? then we’ll include hate.
America is a nation of sheep that think they’ll be wolves someday. So the sheep vote for policies favorable to the wolves. When the sheep can’t figure out why they keep getting eaten, the wolves tell them that it’s someone else’s fault.
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