Posted on Apr 8, 2021
Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money
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Funny that final analysis is that all along the plan was to give money to businesses, not American public as promised. And now the right balks at a plan that will help all Americans, right and left.
Study Finds Trump Tax Cuts Failed to Do Anything But Give Rich People Money
Posted from nymag.com
Economy
Taxes
Posted >1 y ago
Responses: 6
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Trump promised the corporate tax cuts would increase wages by $4000, but that was a miserable lie. Trump expected corporations to invest in plants and production capacity which would have a positive ripple effect for the economy, but the flaw is corporations will not make those investments if the demand for the products does not go up. Therefore, corporations had excessive cash and often executed stock buy backs.
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MAJ Ken Landgren
In the grand scheme Trump gave his corporation a tax cut as well. I also think he lied about the pandemic because his resorts and hotels would suffer. Lt Col John (Jack) Christensen
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We live in a dynastic oligarchy made up of some 47 super rich kings and some 130 billionaire princes who rule for the most part and own the main stream news media.
The richest one tenth of one percent of Americans own 17% of stocks
The richest 1% own 50% of stocks
The bottom 50% own 0.7% of stocks
From 1979 to 2019:
• wages for the top 0.1% grew more than twice as fastThe top 1.0% saw their wages grow by 160.3%; and
• In contrast, those in the bottom 90% had annual wages grow by 26.0% .
If worker compensation had kept up with productivity gains since 1968, the current minimum wage would be more than $24.00 an hour.
The richest one tenth of one percent of Americans own 17% of stocks
The richest 1% own 50% of stocks
The bottom 50% own 0.7% of stocks
From 1979 to 2019:
• wages for the top 0.1% grew more than twice as fastThe top 1.0% saw their wages grow by 160.3%; and
• In contrast, those in the bottom 90% had annual wages grow by 26.0% .
If worker compensation had kept up with productivity gains since 1968, the current minimum wage would be more than $24.00 an hour.
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This is what I know. I know that my disposable income and the money for and from my investment portfolio grew faster than inflation Under President Trump, including during the COVID dilemma. That is not true for any of the time under the Obama administration. And so far, it isn't looking good under the Biden administration.
Same Farm, Same side hustles.
Same Farm, Same side hustles.
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SPC Erich Guenther
That and nobody in business or economics takes the Congressional Research Service as a serious non-biased source in any budget or financial projection. I worked in support of the GM Economics Staff for 3.5 years in the 1990's and they never used any of the Congressional arms to detail impacts of policy or Economics because the track record of them was so bad and largely supported whichever was the dominant political party at the time. You will never see Economists from any Central Bank quote them and you will never see any Major Business quote them.
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