Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of Donald Trump's 2017 tax law. Republicans call it a huge success and want to extend it anyway.
Comments
Log in with your Bluesky account to leave a comment
“Taken together, the available evidence suggests the TCJA largely failed in its major objective: It did not significantly boost aggregate investment. This also suggests that moderately raising the corporate tax rate would not adversely affect the economy.”
What a bunch of mule beans. Straight plutocratic propaganda.
During the economic upheaval of Covid the plutocrats raked it in while the workers struggled and learned how food banks work.
You mean they haven’t figured out how much they can squeeze before the peasants rise up?
NY Times says what? Their sanitized reporting on tax cuts for billionaires caused people to not understand the effects of the tax cuts b/c NY Times put a misleading headline based only on the Republican talking points and hid the actual facts and analysis behind a paywall. Like they always do.
Trump can't govern. He has a record of chaos. Violent crime was high, as was unemployment. A pandemic raged - & he suggested injecting bleach? Race riots burned. Allies were spit upon. Oligarchy was strengthened. He left our economy in the toilet. Biden had to fix it all & hand it right back.
Really, having trouble reading the debt it racked up and the negligible impact to the bottom 99% of the population? Well I guess sucking up to the incoming trickle-down authoritarian will do that to you.
Even if there was ZERO success and tons of disaster documented outcomes, those tax cuts would be extended. It’s what TheRump and his rich cronies want.
Anyone with the ability to read above 6th grade level knows exactly what Trump' tax cuts did, they blew up the deficit and increased income inequality.
The 2017 tax law is why we have more billionaires and the existing ones have exponentially increase their wealth…dafuq you mean it’s clouding analysts’ abilities?
... Even with the added growth that Mr. Zwick and his co-authors found, they maintained that the lower corporate taxes had cost the U.S. government billions. Estimates at the time of the 2017 law’s passage found that it would add $1.5 trillion to the deficit over 10 years."
I'm hoping the article States right up front. That the point of the tax law was the tax cuts. Everything else was simply an excuse. Yes it's a huge success because it's a huge tax cut. They don't care about the professed purpose of the law. We should stop reporting it as if they mean it.
Tax cuts cause inflation. On average they're roughly neutral. But if taxes are cut more for the rich, they amount to a wealth transfer from society at large to the rich.
um it doesn’t take a rocket scientist to understand….the rich people pay little and the working class pay so so so much more…how’s that? Pretty simple to comprehend unless of course u r an idiot
Comments
https://www.brookings.edu/articles/how-much-did-tcja-raise-investment/
I’m going to google it.
During the economic upheaval of Covid the plutocrats raked it in while the workers struggled and learned how food banks work.
You mean they haven’t figured out how much they can squeeze before the peasants rise up?
Shi@ storm on steroids
HOUSE of LIES, TREASON & CORRUPTION
https://bsky.app/profile/one-infinity.bsky.social/post/3lfx6oay2co2g
A wag once said, if I owe you $100 I'm in your debt. If I owe you $100M you're in my debt.
Two-thirds of public debt is held by domestic holders.
So the government wants to borrow more of our money to give us tax breaks.
He gave a huge tax break to the ultra-wealthy.
The deficit has balooned.
Now he wants to double-down.
Trump is a con artist who duped his followers.
"The research from Mr. Zwick and his colleagues threw cold water on the Republicans’ insistence that the tax cuts paid for themselves....
Jess Bidgood- "...given the popularity of some of those billionaires: While Musk may be seen as a Bond villain by some, he’s still Tony Stark to many others."
https://www.nytimes.com/2025/01/17/us/politics/democrats-frame-trumps-friends-as-foes.html
This has been their plan and their way since like the Reagan era.