Economy Trump tax cuts 6 months later: it was exactly what critics projected - everyone but the rich suffers

[GetTheseHands]

It is, but job growth/reduction in unemployment has actually slowed fairly substantially over the past two years.

As far as an argument about how suitable/flawed a metric the unemployment rate is? Well, I have opinions on that, but they aren't exceptionally informed and are pretty loosely held.



Those are straw man arguments.

The economy is doing well, so no we are not pretending otherwise.
We are also not pretending that "no one has benefited from the tax cuts." We are stating factually that only a very small portion of the society has, and that the VAST majority of the rest of society is going to suffer to pay back the cuts.




Yeah, learning is hard. It's better to pretend that you know better than everyone else. I bet you're the type of person who thinks you understand more about medicine than doctors too, on the basis that you finger blasted your cousin when you were in junior high.



Keep crying and trying to save face that you aren't able to engage this topic. Every irrelevant and insulting post that you make here just embarrasses you more.

As far as my username? Intelligent people judge on the basis of posts, not names. For that reason, there are plenty of intelligent anti-communists here like Rod and Polish that I get along with exceedingly well.

What is your opinion on the country of Monaco?

 

[KONG-D'SNT-TAP]

Farmer Brown would suck down any government farm subsidy like it was going outta style.

This fucking guy is a world class hack

 

[ocfightfan]

I'm happy for you.

But the point is that "I'm doing okay" isn't dispositive. Pretty much everyone was doing okay in 2006, despite the fact that Bush's tax cuts were reckless, pointless, and panned. So everyone could tell people like me at the time to piss off, because they were getting theirs and the sky wasn't falling.

Then people stopped doing well. And Trump and the GOP are furthering the exact same kinds of policies that Bush did: tax cuts for the rich, deregulation, and distribution of power and decisionmaking to profiteers and industry crooks. And, if the economy collapses again, it will be the same story: those rich guys will walk away unscathed, and the working man will suffer.

Unemployment is down, the stock market is up, people that I know are getting raises. There are a bunch of new buildings being constructed in my area. More than a few manufacturers are reshoring. Many people are doing okay. But you are only interested in the reports that confirm your bias.

I'm sure there are people doing poorly, because that is always going to be the case. Please tell me your plan to help them.

 

[IReallyDoTrainUFC]

Masters of Law in Business & Economics



I'm suggesting it's necessary and that it is fundamentally more fair than what you are defaulting to (I'm guessing a flat-tax or flatter tax system).



@Rod1 what's that quote you've used about liberals erroneously making moral issues to the disadvantage of pragmatic and effective evidence-based solutions?

I don't know that I ever see that from the left, but taxation is, as evidenced here by @Farmer Br0wn, the issue where right-wing Americans would root for the destruction of the country and economy on the basis of the "moral decision" that accrued wealth is inherent and flat tax is "fair."



Don't post in a politics subforum if public policy like taxation is too complicated for you to be bothered with.

I don't care about policies. That seems like your domain. I care about things like morality and praxeology.

I'm sure that you got the standard Keynesian propaganda at your college in which you're so proud to have a degree. I bet you have never read any other competing view from an Austrian or Chicago school economist.

You live in your own echo chamber of statism, confiscatory taxation, and fiat currencies and you think that's all that's out there in this world. You're not sophisticated enough to understand. Your "education" failed you.

 

[HomerThompson]

125 posts and still not a single legitimate attempt at refutation. Simply amazing.

 

[ScottE]

But isnt unemployment at a historical low? No one on here started a thread on that. So we have not arguments about how true or how skewed that is.

We are essentially at full employment, which is part of the reason why the growth projections behind the tax cuts funding were and are unrealistic. But even at historic lows of unemployment we are seeing the erosion of the average Americans ability to pay for things. Basic neccecities in many cases.

Low unemployment should result in wage growth, but it isn't. Even with all their tax savings most companies are not upping wages.

Combined with increase inflation the reality us that on average we are about to see situation where wage growth doesn't exceed inflation. That is to say your job is worth less then it was a year or two ago even with your tax savings and whatever raises you've gotten.

We are playing trickle down economics again when we know that it doesn't end up trickling down.

 

[Trotsky]

Unemployment is down, the stock market is up, people that I know are getting raises. There are a bunch of new buildings being constructed in my area. More than a few manufacturers are reshoring.

Unemployment reduction has slowed since Trump was elected, and the stock market has not performed any better than it did under Obama. Meanwhile, the deficit has exploded and wage growth has slowed.

You realize that your anecdotes don't control the happenings in the rest of the world, right? You are welcome to present actual data that contradicts the OP.

Many people are doing okay. But you are only interested in the reports that confirm your bias.

Holy irony.

Okay, clearly this is a lost cause. Like I said before, your position would have been the exact same in 2006: "I'm doing okay, the people I know are doing okay, so if you present arguments on why federal economic policy is shitty right now, you're just biased."

Farmer Brown would suck down any government farm subsidy like it was going outta style.

This fucking guy is a world class hack

At least posters like him try, or at least pretend to try, to defend their positions

You’re very sensitive for a communist revolutionary.

I'd say I'm more impatient than sensitive. I'm annoyed by stupid people, and there's nothing more idiotic than a person who frequents political chat rooms but refuses to learn anything about public policy and refuses to even engage on political topics.

What you're doing here is trolling: you haven't made a single statement related to the topic and are just talking shit. If mods here didn't handle you right-wing morons with kid gloves, it'd be less common. But, alas, the @Madmick's of the world believe in equal outcomes here in the WR.

Ironic that the GOP are supposedly working for the Russians.

Well, no, it's not. Russia is the currently world's biggest hotbed for right-wing corruption. And Russia has an interest in the United States' democracy and position in the global order deteriorating. So it makes perfect sense that they would conspire with incompetent right-wingers in the US to foment insurrection here and damn us with an historically incompetent leader who would cede huge swaths of global influence and hamstring our country's future

 

[MicroBrew]

I'm guessing farmer is against certain individuals receiving special governmental treatment.

@Farmer Br0wn seems to be down with sinking or swimming as a man and doesn't want/need government interference

Re. last sentence
That's all fine and dandy to say after he has already benefited from government help, like the rest of us. If this was 200 year ago and he was a pioneer who cleared some wild bush and planted crops and there was no roads around, he can claim to be self made. But even the pioneers did receive some gov. help, from cheap land to military support against Native Americans.

 

[Trotsky]

125 posts and still not a single legitimate attempt at refutation. Simply amazing.

 

[Cubo de Sangre]

60% would just mean far more outsourcing. Tech companies would move to Asia, manufacturing would move to central America/Asia, America would just lose way more than it is worth. Less jobs overall, slower economy, and when an economy starts slowing down and jobs start being lost, it's an avalanche effect (see Venezuela)

Tax brackets are a balancing act. You have to:
A) Maximize revenue
B) Maximize growth
C) Remain competitive in the world market
D) Incentivize investment/entrepreneurs so the economy actually grows and people have jobs

You really don't know what would happen. Neither do I. But the wealth gap is widening and it's time to close it up. That means redistribution from the top. Unless you wanna just print money for the poor? Taxing the obscenely wealth at much higher rates is a place I'm willing to start.

 

[KONG-D'SNT-TAP]

I’m just curious, do people actually believe those numbers are fake and the information in the OP is fake?

I’m not sure what some of you people are saying here.

 

[GetTheseHands]

125 posts and still not a single legitimate attempt at refutation. Simply amazing.

The only reason the deficit is still rising (which is hilarious, you guys suddenly care about this issue) is because we haven't cut federal spending, which we absolutely should. Otherwise, I couldn't care less about rich people keeping more of the money they already earned because i'm not a fucking communist.

 

[hillelslovak87]

What is your opinion on the country of Monaco?

I bet his opinion on Monaco is "Better than Kazakhstan." Heyoooooo!!!!

 

[Cooz]

I got $1000 bonus and and an increase of $50 per paycheck (bi-weekly).

They taxed the shit out of the $1000 though. I got like $320 in my bank from that

Lol.

I get to shave 20% off the top of the gross income of my s-corps’. That’s before all the other new tax rules I can take advantage of.

Bet your @$$ that none of my services are any cheaper than before, and the rates i’m paying for employees is the same as well.

Winning!!

 

[oleDirtyBast4rd]

Re. last sentence
That's all fine and dandy to say after he has already benefited from government help, like the rest of us. If this was 200 year ago and he was a pioneer who cleared some wild bush and planted crops and there was no roads around, he can claim to be self made. But even the pioneers did receive some gov. help, from cheap land to military support against Native Americans.

Roads aren't exactly what we consider government assistance in these types of conversations.

Besides, his family probably did make their own roads on their farm

 

[Throttlehead]

Roads aren't exactly what we consider government assistance in these types of conversations.

Besides, his family probably did make their own roads on their farm

Farm subsides are 20 billion a year, and no, farmers don't build their own roads.

 

[Rod1]

I'm sure that you got the standard Keynesian propaganda at your college in which you're so proud to have a degree. I bet you have never read any other competing view from an Austrian or Chicago school economist.

Since when are Austrian or Chicago economists pro-deficit spending?

 

[franklinstower]

My experience is what matters to me. I am sure your experience is what matters to you and every other person's experience is what matters to them. What burns me the most is the way they say that it is anecdotal and that I'm probably the only one.

Alleged?? Lol.

Your experience should not be all that matters to you though. When we are voting in policy and politicians we need to think about everyone involved and not just ourselves.

 

[Trotsky]

I don't care about policies. That seems like your domain. I care about things like morality and praxeology.

I'm sure that you got the standard Keynesian propaganda at your college in which you're so proud to have a degree. I bet you have never read any other competing view from an Austrian or Chicago school economist.

You live in your own echo chamber of statism, confiscatory taxation, and fiat currencies and you think that's all that's out there in this world. You're not sophisticated enough to understand. Your "education" failed you.

Chicago school economics was the primary source of my education in economics, numb nuts. That's where law and economics comes from. Robert Lucas, Frank Knight, Richard Posner, Robert Fogel, Ronald Coase, Gary Becker. Also, my education on Keynes is nearly nonexistent: my knowledge of Keynesian economics is mostly via Wikipedia.

I don't know if you have a faulty education, but your post here is just a dressed up ad hominem. I mean...it's not really dressed up. You just threw in some vague references to economic theory and showed your ass by not knowing that law and economics originated in the Chicago School lol.

Lastly, I never said I was "proud of my education" in economics. I was asked where I studied it, and I said where. I furthermore said that my education in the area was lacking compared to posters like JVS (and probably @Rod1 as well), as it was merely a supplementary degree to my JD.

 

[AndroidRage]

https://nypost.com/2016/02/24/45-percent-of-americans-pay-no-federal-income-tax/
The rich do pay overwhelmingly more in taxes. -.-

They also own overwhelmingly more of the wealth.