Tax Cuts
POSTED BY: THGRRI
UPDATED: Thursday, April 17, 2025 01:12
VIEWED: 22355
PAGE 6 of 20
Quote:
Originally posted by second:
On a thousand different occasions over many years, Jay Leno proved that Americans who are questioned on the street don't know the answers.
I think that was Auraptor's point, although I would say that a vast majority people who identify with one "side" or the other are guilty of it.
Most people need the MSM to tell them who and what they're supposed to hate, every day, otherwise they'd be caught with their pants down.
Nobody here has shown me any evidence to support their opinions that the Tax plan is bad for working class Americans. I agree it doesn't do anything especially good for most of them, but I don't see what's so bad either.
It shouldn't be any surprise to anybody that when the plan is shown under a different light to most people and Trump's name isn't tied to it that they don't think it's a bad thing.
Do Right, Be Right. :)
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Charles Barkley shreds Republican tax bill: 'I'm going to ... get me a new Rolex'
The law is viewed by analysts as a transfer of wealth from the poor and middle class to the rich, a point that Barkley seized on, using his signature humor in the process.
“I’m going to trickle my fat ass down to the jewelry store to get me a new Rolex,” Barkley said while laughing to Ernie Johnson, Kenny Smith and Shaquille O’Neal.
https://sports.yahoo.com/charles-barkley-shreds-republican-tax-bill-im
-going-get-new-rolex-225425349.html
T 
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Quote:I googled: Is the Tax plan bad for working class Americans? One of the Christmas Eve themed answers was “How The GOP Tax Plan Scrooges Middle Class, Retired And Poor”. But there are many more articles on the subject for you to choose to read. Or not. Your choice. Merry Christmas and a Happy New Year!
Originally posted by 6IXSTRINGJACK:
Nobody here has shown me any evidence to support their opinions that the Tax plan is bad for working class Americans. I agree it doesn't do anything especially good for most of them, but I don't see what's so bad either.
www.forbes.com/sites/johnwasik/2017/11/29/how-the-gop-tax-plan-scrooge
s-middle-class-retired-and-poor/#5801e9966c1e
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Quote:
Originally posted by second:Quote:I googled: Is the Tax plan bad for working class Americans? One of the Christmas Eve themed answers was “How The GOP Tax Plan Scrooges Middle Class, Retired And Poor”. But there are many more articles on the subject for you to choose to read. Or not. Your choice. Merry Christmas and a Happy New Year!
Originally posted by 6IXSTRINGJACK:
Nobody here has shown me any evidence to support their opinions that the Tax plan is bad for working class Americans. I agree it doesn't do anything especially good for most of them, but I don't see what's so bad either.
I don't need an article written by either side that slants the facts. I read the link to the actual tax plan that you provided about a month ago.
I own my home free and clear, I have zero debt and maintained an 822 credit score even though I didn't work for 2 1/2 years after working 3 years for minimum wage.
Nothing in that tax plan was the horror story I keep hearing about.
Merry Christmas and happy New Year to you too Second.
Do Right, Be Right. :)
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Quote:
Originally posted by second:Quote:I googled: Is the Tax plan bad for working class Americans? One of the Christmas Eve themed answers was “How The GOP Tax Plan Scrooges Middle Class, Retired And Poor”. But there are many more articles on the subject for you to choose to read. Or not. Your choice. Merry Christmas and a Happy New Year!
Originally posted by 6IXSTRINGJACK:
Nobody here has shown me any evidence to support their opinions that the Tax plan is bad for working class Americans. I agree it doesn't do anything especially good for most of them, but I don't see what's so bad either.
www.forbes.com/sites/johnwasik/2017/11/29/how-the-gop-tax-plan-scrooge
s-middle-class-retired-and-poor/#5801e9966c1e
Jack has the IQ of a peanut. I applaud your patience SECOND when dealing with him.
T
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Quote:
Originally posted by THGRRI:
Jack has the IQ of a peanut.
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Quote:I think 6ixStringJack is smart enough to understand the guy who won a Nobel Prize in Economics, Paul Krugman, who wrote this Christmas Eve about the reasons wages will NOT be changing quickly despite the tax cut. You'll have to go to the original article to see the citations and two figures illustrating what's happening to the money, but here are the words:
Originally posted by 6IXSTRINGJACK:Quote:
Originally posted by THGRRI:
Jack has the IQ of a peanut.
[citation needed]
Trickle Down? Not Now, and Not for a While at Best (Wonkish)
www.nytimes.com/2017/12/24/opinion/trickle-down-not-now-and-not-for-a-
while-at-best-wonkish.html
Paul Krugman DEC. 24, 2017
“You all just got a lot richer,” Trump reportedly told guests at Mar-a-Lago. But Republicans will nonetheless keep insisting that the corporate tax cut that is the main item in the tax bill is really for the benefit of workers. They will be aided in this claim by some recent corporate announcements of bonuses or wage hikes that they attribute to the tax cut.
It’s nonsense, of course. Think of the motivation: lots of companies are raising wages at least a bit in the face of tight labor markets; pretending that it’s because of the tax cut is a cheap way to curry favor with an administration that has no hesitation about using regulatory and antitrust decisions to reward friends and punish enemies. It’s basically Carrier all over: make a Trump-friendly splash by declaring that he persuaded you to save jobs, then lay off lots of workers after the cameras have moved on.
But there’s a larger point here: even if you believe economic analyses that suggest corporate tax cuts are good for wages, it shouldn’t happen right away. Any trickle-down should come about because the tax cuts lead to higher investment, which leads over time to a larger capital stock – and it’s the increase in the capital stock, which may take many years, that leads to the wage rise.
I keep finding it helpful to use a diagram representing the economy corporate tax-cutters imagine we have: a one-sector economy with no monopoly power, open to inflows of foreign capital. (Adding the reality of monopoly rents, noncorporate capital, and nontraded goods all reduce the extent of trickle-down.) This stylized economy looks like Figure 1:
Figure 1
The downward-sloping line is the marginal product of capital, which is equal (in this model) to the pre-tax rate of return r. The after-tax return is r(1-t), where t is the tax rate.
Given an initial capital stock K, GDP is the integral of the area under the r curve up to K. Of this, rK goes to pre-tax profits, of which the government takes a share t and the rest goes to after-tax profits. What’s left, the triangle at the top, is wages.
Now suppose the corporate tax rate is cut to a lower level t’. This raises the after-tax rate of return for any given capital stock. The country faces a long-run supply curve for capital; this curve would be horizontal for a small open economy, is surely upward-sloping for the United States. Still, over time the capital stock rises to K’. This in turn leads to higher wages:
Figure 2
The crucial words, however, are “over time.” For a variety of reasons it would take a number of years for the capital stock to rise to its long-run level. And in the short run we wouldn’t expect wages to rise at all. Certainly not in the first week after the tax cut!
So if you suspect that these corporate announcements are political theater, not real economic events, the very models tax-cut enthusiasts like to cite back you up. There will be negligible wage effects of the tax cut in 2018; for the first few years, it’s basically all Mar-a-Lago.
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It should be stated that I have said several times that I don't see anything that particularly helps the working class in the tax bill. Only that I don't see anything close to the horror stories the Left is saying either.
That being said, I DO see where it helps the rich disproportionately more than anybody else. I guess we'll just see what happens when that happens.
Ball is in your court, Second. You going to put your money where your mouth is when you reap the benefits? Cause there's not a damn thing I can do about it from down here.
Do Right, Be Right. :)
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Quote:Redundantly redundant. Without being ignorant, they would not fit those labels.
Originally posted by second:Quote:a Bernie “supporter” or a “Liberal” has to be willfully ignorant.
Originally posted by AURaptor:
Bernie Fans Love Republican Tax Plan
Liberals Love Trump's Tax Plan... When Told It's Bernie Sanders' Plan.
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Quote:Paul Krugman? The Libtard social Democrap?
Originally posted by second:Quote:I think 6ixStringJack is smart enough to understand the guy who won a Nobel Prize in Economics, Paul Krugman, who wrote this Christmas Eve about the reasons wages will NOT be changing quickly despite the tax cut. You'll have to go to the original article to see the citations and two figures illustration purposes the time what's happening to the money, but here are the words:
Originally posted by 6IXSTRINGJACK:Quote:
Originally posted by THGRRI:
Jack has the IQ of a peanut.
[citation needed]
Trickle Down? Not Now, and Not for a While at Best (Wonkish)
www.nytimes.com/2017/12/24/opinion/trickle-down-not-now-and-not-for-a-
while-at-best-wonkish.html
Paul Krugman DEC. 24, 2017
“You all just got a lot richer,” Trump reportedly told guests at Mar-a-Lago. But Republicans will nonetheless keep insisting that the corporate tax cut that is the main item in the tax bill is really for the benefit of workers. They will be aided in this claim by some recent corporate announcements of bonuses or wage hikes that they attribute to the tax cut.
It’s nonsense, of course. Think of the motivation: lots of companies are raising wages at least a bit in the face of tight labor markets; pretending that it’s because of the tax cut is a cheap way to curry favor with an administration that has no hesitation about using regulatory and antitrust decisions to reward friends and punish enemies. It’s basically Carrier all over: make a Trump-friendly splash by declaring that he persuaded you to save jobs, then lay off lots of workers after the cameras have moved on.
But there’s a larger point here: even if you believe economic analyses that suggest corporate tax cuts are good for wages, it shouldn’t happen right away. Any trickle-down should come about because the tax cuts lead to higher investment, which leads over time to a larger capital stock – and it’s the increase in the capital stock, which may take many years, that leads to the wage rise.
I keep finding it helpful to use a diagram representing the economy corporate tax-cutters imagine we have: a one-sector economy with no monopoly power, open to inflows of foreign capital. (Adding the reality of monopoly rents, noncorporate capital, and nontraded goods all reduce the extent of trickle-down.) This stylized economy looks like Figure 1:
Figure 1
The downward-sloping line is the marginal product of capital, which is equal (in this model) to the pre-tax rate of return r. The after-tax return is r(1-t), where t is the tax rate.
Given an initial capital stock K, GDP is the integral of the area under the r curve up to K. Of this, rK goes to pre-tax profits, of which the government takes a share t and the rest goes to after-tax profits. What’s left, the triangle at the top, is wages.
Now suppose the corporate tax rate is cut to a lower level t’. This raises the after-tax rate of return for any given capital stock. The country faces a long-run supply curve for capital; this curve would be horizontal for a small open economy, is surely upward-sloping for the United States. Still, over time the capital stock rises to K’. This in turn leads to higher wages:
Figure 2
The crucial words, however, are “over time.” For a variety of reasons it would take a number of years for the capital stock to rise to its long-run level. And in the short run we wouldn’t expect wages to rise at all. Certainly not in the first week after the tax cut!
So if you suspect that these corporate announcements are political theater, not real economic events, the very models tax-cut enthusiasts like to cite back you up. There will be negligible wage effects of the tax cut in 2018; for the first few years, it’s basically all Mar-a-Lago.
And you mean the same Nobel which awarded Obamination the Peace Prize, for creating more War, more deaths and atrocities?
You have such reasonable sources.
Wait a minute...Tight Labor Market?
Is he admitting that in less
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