Bernie Marcus (the co-founder of Job Creators Network and the retired co-founder of The Home Depot): Average Family with Children Will Save $2-3K from GOP Tax Cut Bill
Yes! And this tax plan makes perfect sense because the wealthy business owners that will pocket more income will instinctively give it back to the workforce out of their well known corporate generosity.
How is it that the economy is great and breaking records as Trump always says, yet also suffering and failing and desperate for the relief of this tax bill? Which is it?
The taxes that are imposed on business are paid for BY THE END CONSUMER because they are a cost of producing the good/service. The more you tax a business the more YOU pay for their product. It's essentially taxing YOURSELF. But I guess this basic logic would escape someone(s) who still think they are saving an average of $2400 a year on healthcare and could keep their doctor/healthplan.
Your Obama was either a liar or an idiot, and most likely both.
WW, what you’re claiming can’t be true. Corp tax rates have been dropping since Eisenhower. Have prices dropped? Has hiring increased? No and no. Our economy is running well, this tax plan is an effort to reward the mega rich and corporations. Call it what it is.
When anyone; ANYONE, argues against lowering corporate tax rates (or tax rates for that matter) and points to the Eisenhower years as "proof" that this is unnecessary they are one of two things; either the most pathetic economic illiterate every put on this world or a troll (in this case you could probably argue both apply equally).
We live in a GLOBAL (that's all of the world for the slow) economy today, this wasn't the case in the Eisenhower years.
If someone gets any dumber there should be a sign hung around their neck that reads "full sun, water daily".......
It's the GLOBAL part they (intentionally) don't get Mike. It's having the highest corporate rate on the planet that makes US companies move to other more tax friendly countries. Many have already stated they are looking into returning if the tax rates are more competitive. That is the basis of this whole story. Intentionally ignored, does not fit the narrative.
Pull their string and all you will hear is "higher taxes!" Actually requiring jobs and more work and production of people who don't feel like it is the antithesis of their goals of income redistribution.
The lowered corporate tax rate will be largely moot if they don't get rid of the AMT. In fact, some corporations will face a tax hike, as the current Senate bill is written.
Let's hope they it right and eliminate the AMT in the final bill.
In the history of lowering Corp taxes, never. And I repeat never has it resulted in mass hiring. By contrast, it’s resulted in higher bonuses, buying back stock and off shore accounts and vacation homes. Trickle down economics is a dead horse. The only thing that spurs hiring is demand for products. Any business will tell you that. Ford has a demand for F150’s , they need to make more. Boom Hire away. Ford gets a tax break, big deal! That’s all bonus money!
The deficit exploded based on unfunded and unfounded wars in the quagmire of the Middle East. Wasted money that will strap our future for generations. And now we’re about to add to that sum. Shameful how the GOP went from “the deficit is too high!” To “sure, Mr. Trump, whatever you want mr trump, selling out our future? Ok, sir!”
" Trickle down economics is a dead horse." There is ONLY trickle down WRT economics. "Trickle up" is a liberal fantasy.... a unicorn fart.... or in most cases such as PaulZ, a bald faced knowing lie. A jobless welfare recipient is drag on the economy, an anchor.... not an economic driver to strengthen and improve an economy in any way shape or form. But do require money be extorted at gunpoint to sustain them.
Every form of government that has tried such a system has failed.... miserably so. But liberal leftists always insist "but we're smarter now.... THIS time it will work....." LOL! A couple actually believe their own BS. But most like PaulZ know it's all BS. Just like "if you like your doctor you can keep your doctor" and " this plan will save the average family $2500 a year...."
TD, you would think people would realize that. The gov generates Zero dollars, so the only way to keep a Marxist type gov afloat is higher taxation....where does that money come from? Us, those that actually work and pay taxes.
BTW, how has the Socialist, Marxist, and Communist forms of gov worked out for countries that have adopted those forms of gov?
We have over a 100 years of history to reflect on to refer to...they haven't done very well have they?
Oh, I forgot, we just haven't had the right people in control yet. After 100 years of failed attempts you would think it would be obvious those systems don't work...like trying to put a square peg in a round hole.
Greece, Spain, Italy.... France is a half step behind..... all are spinning down the hole as we speak. They haven't even been socialists for all that long. but then it doesn't take long to give away money with ever lower rates of per capita production year after year.....
Socialism always works great..... right up until it runs out of other peoples money.......
You could set a white dog in front of some people and they would deny that it's a white dog.
Some people are decieved in thinking Marxism, Socialism, ect will work. On the Right side of the isle you have more of a Statist mindset...gov control but in different ways. If we had a real Republic like most of the founders intended the economy wouldn't be a concern.
Even the founding fathers had the battle. Jeffersonians against the Alexander Hamiltons.
