Funny how the “solution” to the last major financial crisis was just “throw money at the industries that made the mistake and dont actually fix the problem”
1980 top corporate tax 46%- today 21% .. 2017 tax bill increased the taxes for small corps making under 50k by 6% from 15% to 21% while giving the wealthiest a 6% tax cut..
Even though I think the "deficit" is nonsense after reading about modern money theory, this is still a great graph for everyone who uses the deficit as a reason to be racist assholes. Don't build your whole identity on "responsible spending" and then do... This. But they always do.
Yeah, I'd take their estimate and double it - at least - for the deficit this bill will cost. Economic activity is driven by the middle class and poor who spend most dollars they make. The rich will only offshore and invest money which doesn't drive the economy nearly as well.
Comments
It's time for "tax hikes to pay down the debt come back to households in the form of lower interest rates"
https://www.wolterskluwer.com/en/expert-insights/whole-ball-of-tax-historical-income-tax-rates
https://taxfoundation.org/data/all/federal/historical-corporate-tax-rates-brackets/
We have $160 Trillion net wealth.
We are not in debt.
https://uswealthclock.com US Fed report numbers, links
The top 1% holds $50T: Pay our $28T federal treasury debt, have $22 Trillion left, leave us 99 out of it!
Let’s hear that in Congress, and negotiate ! — b.rad