Posted on Dec 1, 2017
It’s Official: The Republican Tax Cuts Will Not Magically Pay for Themselves
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Posted 7 y ago
Responses: 10
There's nothing magic about it. Taxes act like brakes on the economy. Reducing taxes allows the economy to rev up, and then the government ends up getting more revenue.
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SSgt Christopher Brose
MAJ James Woods - If you have a 401K or any other investment portfolio, you should be happy about "savings and increased revenue" going to shareholders.
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MAJ James Woods
SSgt Christopher Brose - Yeah but not at the expense of keeping wages of employees from going up or keeping them from obtaining healthcare and other essential family benefits in a particular company. I hear what you're saying, claim blind ignorance as a small fry shareholder with a few stock shares in major companies or not invest at all unless you know that company is treating their employees just as well as they treat their investors. Another reason to pay close attention to current events and not just the price of shares. Good point. Thanks.
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SSgt Christopher Brose
MAJ James Woods - Give it some time. The naysayers will be proven wrong. This economy is going to take off the more the government gets out of the way, and that's going to mean a noticeable improvement in the number of jobs available. Wages for skilled workers will go up as companies have to compete for available labor. Wages for unskilled workers will probably remain low as long as millions of illegals are competing for those unskilled jobs. (And that answer to that is not an increase in the minimum wage -- that just makes bigger companies automate more and smaller companies reduce their staff or go out of business.)
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MAJ James Woods
SSgt Christopher Brose - Same wishful thinking since the last GOP tax cuts. Automation and offshore cheap labor won't allow domestic job and wage growth. Economy and major businesses have already been profiting the past few years; profiting enough to justify some wage growth in American sector but do keep hoping this time will be different.
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Thanks for reminding us PO1 Tony Holland that the tax legislation on the decks is not much different that other authorization bills. All tax legislation bills have significant assumptions about revenue streams.
Only the benighted would believe that any legislation would perfectly predict the future :-)
Only the benighted would believe that any legislation would perfectly predict the future :-)
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1stSgt Nelson Kerr
Only the dishonest would say that this one is not for the rich at the cost of the middle class and the deficit. Something like 80 million people are going to see their income taxes rise
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It makes s3nse when you relize that they work for thier owners/major donors not the public.
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SSgt Christopher Brose
Interesting, that's exactly what middle America decided about Democrats. That's why Trump was elected.
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