Some tax breaks do work and help investments that create work. Big tax breaks to the super rich overall hurts the economy and creates a big wage gap too. Tax cuts should go to the middle class. https://youtu.be/No67351EDKk
Trump also benefited from the growing and positive economic policy that Obama implemented over the years and took credit for himself as job growth was on the rise. Lol
I think all presidents have an inclination to claim the economic successes, whilst these are typically not that impacted by Presidents. A large part of growth comes from e. g. simple higher productivity, more demand, good monetary policy. Those are things a president does not really hold much power over.
They do. They said Clinton benefited from Regan's policy.
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What if less tax to be paid just leads to people and companies not using it in a productive manner (which happens a lot) or just sending it abroad (which happens a lot)? Suddenly, capacity of fiscal policy is diminished and the gains are extremely small.
@tartaarsaus - Nonetheless, small gains multiplied by thousands, comes in as a net increase for the Gov't. Like Ronald Reagan said, Congress doesn't have a problem with income to the Gov't, they have a spending problem! During the Reagan years and also up until the COVID economic downturn, the US Gov't was collecting record revenues. Its not that taxes NEED to be increased. Congress needs to quit spending FAR more than that take in!BOTH parties deficit spend, increasing the national debt. However, Democrats tend to outspend Republicans at a much higher rate.
Whether you agree with more fiscal policy is not particularly relevant for whether giving tax breaks leads to an effective increase in investments.
I posed that argument back at him, but he referred back to Clinton who input a new economic policy and said during the Clinton years the economy was great which it was.
Yes but it had less to do with that but the fact Clinton balanced the budget and got a boost from NAFTA which was the worst trade deal of all time. Man that was a bad one.
Yeah, that NAFTA deal was trash. It basically put a lot of Americans out of work in exchange for foreign labor in other countries. 🤦♂️
I don't believe in the tricke down policy neither. I believe in raising taxes to the rich especially the super rich and lowering taxes for the middle class and working poor class.
They do invest which is good but how much gets invested of their tax breaks? Not much contrast to what they actually get in tax reductions.
Besides, its in the best interest of the country for the middle class to get the tax breaks because they keep the economy rolling strong since they will be spending the cash in businesses etc.
It's in the best interest of the country for everyone to get tax breaks. What the rich have that the middle class doesn't is the ability to move where taxes are lower. Hence the exodus from California.
What big benefit is it to a society when one person or the super rich that according to my research is 0.01% of the U. S. population who make 9.5 million dollars or more annually? 9 million dollars annually is an outrageous amount of money that only an extreme minority makes which are athletes, movie stars and entertainers.California taxes are bit too high, but California also is an amazing beautiful state with great year around whether, sports teams, great education system and a population of almost 40 million people. Taxes are needed to keep it shape and looking nice etc.
What someone else makes is none of your business. California won’t be able to afford these things you claim it has when the tax base leaves. So it will collapse just like Detroit.
Its the government business to make sure education is update and being its best, roads and infrastructure are well built and modern etc. We need money for that.
And the tax base won't leave. California is beautiful and a great state.
Bullshit. They are already leaving.
No they aren't. California always had high taxes compared to other states and people still stay there especially the rich and powerful.
Most retirees will be dead within in a decade or so. California is mostly for the young and rich, not the old and borderline dead 60 plus old person.Also, California has about 40 million residents and most rich people live in Cali. The old people that retire to my home state of Florida won't be missed.
lol, so when presented with evidence that clearly proves you're incorrect, you pivot. Good job.
But its the truth though. Most retirees don't last long nor does society count on them much for anything.
PS, the article said rich AND retirees. You're welcome to keep California with all the needles had shit piles in the streets. you can continue to soak the 'rich' for their taxes because you're jealous of their success. Just keep that shit out of the rest of America.
Borderline retirees and retirees basically, hardly no young rich and successful people leaving.And California is one of the best states in America to live as it provides amazing year around weather, top beaches, high rank schools in the nation and top notch entertainments. And don't mention drugs and homeless in the streets. In most U. S. big cities is filled with drugs and homelessness everywhere especially downtown areas. If you work you won't be homeless. And it helps if you don't be a drug addicted or alcoholic.
Plus raging wildfires, mudslides, earthquakes, and piles of shit in the streets.
The forrest fires are a problem like Hurricanes are a problem in the south and east coast coastal areas and tornados in the Midwest. Its nature.You sound jealous of California. You most likely don't live in a vibrant and fun city. 😂... I don't live in L. A. but I got Miami. 😛
Not jealous in the slightest. I'm an east coast boy.
South Carolina? Probably. That state sucks. Lol
You live in Florida talking shit?
Miami? Top notch amazing city. Thank You.
Surrounded by meth heads.
Both of you don't know what you are talking about
@JessieBellll Thanks for your well thought out opinion on the matter.
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