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Repeat after me: Trickle Down Doesn't Work. It's been an abject failure each time it has been tried.
What does work?
If "trickle down" is to be dismissed, what should be embraced? Demand side economics?
Surely - since you are a qualified economics professor - you will be able to discuss Keynesian model economics and tell us what interest rates should be and whether the money supply should be increased or decreased and by what amount....
We'll wait.
"Still too early", but the Putzes From The Left go on and on as if they had actual information.
Still too early but the warning signs are there as the deficit is in increasing, revenue has only increased slightly over the past 10 months and that's not enough to keep pace.
The Reagan tax cuts in 1981 were followed by a series some of the largest tax increases in history, he also reduced corporate taxes, individual taxes, estate taxes. The first tax increase was one year after the tax cut, we will see if this congress has the ability to make the tough decisions or are they going to ignore reality.
What does work?
If "trickle down" is to be dismissed, what should be embraced? Demand side economics?
Surely - since you are a qualified economics professor - you will be able to discuss Keynesian model economics and tell us what interest rates should be and whether the money supply should be increased or decreased and by what amount....
We'll wait.
Doing nothing might have been a better option last December.
The tax cuts seems to have lost me 100's of thousands of dollars off my IRA and other accounts I was counting one.
Certainly no trickle down if mortgage applications are down...and if people are keeping their cars and iphones and everything else longer, that's not trickle down either.
My buddy Buffet actually made money. Can you imagine? Actually running businesses in a "old fashioned" way - he even put the "free tax cut money" into a separate account and said "this isn't my companies making money so don't consider it when you look at our operations"....
If a corporation wasn't cleaning up before the tax cuts, it certainly isn't afterwards.
When they buy back stock the value of the stock increases because there's less outstanding stock. 401k's increase in value for all those that have corporations in their portfolios that did that.
Plus tax cuts and tariffs were supposed to bring companies back to the US.
Nope, they just moved to South East Asia.
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Well Kudlow and Trumps other economic team still believe that trickle down works and that they pay for the cuts.
Tax cuts don't have to be "paid for." That is nothing more than a differently twisted incorrect Liberal view.
And, yes, wage stagnation is a myth.
There's no evidence to support such a claim.
All of the evidence shows wages have continually increased, and wage increases have out-paced all forms of Inflation.
Average wages in 2016 were $48,642 and $50,321 in 2017.
The percent change is 3.45%, while all forms of Inflation increased 2.18% over the same period, leaving a net gain of 1.27%
Average wage in 2010 was $41,673, so there has been a 20.75% increase through 2017.
All forms of Inflation increased 11.73% over the same period, so that results in a net wage increase of 9.02%
Average wage in 2000 was $32,154 so that is a 56.49% increase, while all forms of Inflation have increased 40.9% so that represents a 15.59% net increase in wages since 2000.
Average wage in 1990 was $21,027 so wages have increased 139.31% since then, while all forms of Inflation have increased 81.94% giving a net increase of 57.37%.
That debunks the whole wage stagnation myth.
We have additional evidence, because in 1990, 79% of Americans made $30,000 or less, while as of 2017, only 48% of Americans earned $30,000 or less.
So, wages are rising and wages are rising at a much faster rate than the rate of all forms of Inflation.
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