Americans Got Screwed: After Trump's Tax Cuts, Companies Eliminated More Jobs Than They Created

[metis]

That's the reality of it. All costs are always deferred to the product or service the corporation provides along with the adjusted price tag. We the common man or woman pays for everything. Whether it be government or private.

Not that which is exported, for one. Secondly, since trucks much more tear up our roads and bridges more than cars, even though they pay more in taxes studies have shown that they pay disproportionately less in terms of overall damage, as another example. And I could go on.

Sweden back in the 1990's bit the bullet and went for a low corporate tax rate (around a 10% flat rate, if my memory is correct) but increased their use of the VAT, and it very much helped them economically. So, I agree with you in part, but if we were to stick with our current system, lower corporate and business rates, it would create a recession because the only other reliable source of money is to tax Joe & Mary Schmoe at a much higher rate.

Running a higher deficit while we have basically full employment, as this current administration is doing, is idiotic, and that's the nice word for it. It's basically just a "sugar-high".

 

[metis]

Classic fake news.

No, it's classic "not doing your homework". Maybe actually check it out for yourself instead of blindly believing someone else, even including moi.

 

[Shad]

Questions? Comments?

Anyone that thought Trump could promise jobs, which are solely control by companies, is a fool. Sure lower taxes can help job growth but that is different than promising X.

 

[Shad]

I give political stability in this country -- such as it is -- about one more decade -- maybe two at the most. On top of what we're already experiencing, artificial intelligence and robotics are going to create Great Depression levels of unemployment within the next twenty years. People will be faced with starvation or political "agitation" -- a euphemism for revolt.

Are you thinking along the lines of Balkanization?

 

[sun rise]

Yes, it's in the news (which is how I found out).
But the volume is low, particularly on RF.

Given everything that the right is doing wrong, there's too much to comment on so each item does not get the attention it deserves.

 

[sun rise]

Anyone that thought Trump could promise jobs, which are solely control by companies, is a fool. Sure lower taxes can help job growth but that is different than promising X.

I agree with the first sentence. Anyone who promised jobs is a knave or a fool unless there's a government job program specifically being proposed as a law (FDR for example).

Also we're seeing the lower taxes don't result in job growth but in higher profits that are either distributed or retained.

 

[Shad]

I agree with the first sentence. Anyone who promised jobs is a knave or a fool unless there's a government job program specifically being proposed as a law (FDR for example).

Also we're seeing the lower taxes don't result in job growth but in higher profits that are either distributed or retained.

Remember I did say can not will.

I was not considering government jobs as Trump was talking about the private sector.

There has been a growth in job due as per decreasing unemployment statistics. The problem I see is not all these jobs are equal while often treated as such in optics. For example 300k dead-end min wage jobs is seen in a different light than 100k tradeskill jobs. If we remove the specifics as Trump does we only see the numbers. Ergo the bigger number wins. With the specifics we not agree the former is better than the later.

 

[Sunstone]

Classic fake news.

What's Fox got to do with this?

 

[Evangelicalhumanist]

It's not a surprise about the restaurant industry either pursuing automation. At least in New York , it was a direct result of the raising of the minimum wage to $15 an hour by the Democrats. In fact the McDonald's next to me just ripped out their interior and installed kiosks.

Nonsense! Minimum wage has nothing to do with the pursuit of automation...only the lowering cost of that automation, and when it's economically right, workers will be tossed. This you may consider a prophecy.

And as someone who has been in IT most of my life, I point out to you that the technology you phone home with today, the computing power within it, would cost quite literally in the millions only 25 years ago. And 15 years before that, the technology you take for granted was not even imaginable. At this point, you could lower the minimum wage to $1.25 an hour, and technology would be cheaper at McDonald's.

 

[Evangelicalhumanist]

And yet the unemployment rate is the lowest it’s been since 1969.

But that really depends, I think, on what is really being counted...and it's not always what you think. For example, people who have simply given up are simply not counted. And that's just the first distortion.

 

[Sunstone]

The "Trump has the lowest unemployment" argument would be a whole lot more convincing to people if the jobs being created were not mostly low paying crap jobs.

 

[sealchan]

I take your point, but I think the Republicans understand history quite well. They understand how tax cuts have benefited them -- the party of the rich. And they also understand how so many Americans can be duped into supporting tax cuts for the rich by claiming the cuts will trickle down to them.

It's shameful so many Americans fall for that time and time again.

I recommend that you take a look at George Lakoff's Moral Politics. He puts the conservative and liberal mindset into a cognitive science perspective that you may find very insightful.

It explains why conservatives and liberals dont see eye to eye in matters of policy in a very elegant way.

 

[Kangaroo Feathers]

And yet the unemployment rate is the lowest it’s been since 1969.

You might like to look into just how massagable and non representative unemploynent stats can be.

Further, rather than magically thinking "employment stats are good, Trump is President, therefore Trump is good for employment stats" can you explain, specifically, how Trump has improved employment figures?

 

[Revoltingest]

Given everything that the right is doing wrong, there's too much to comment on so each item does not get the attention it deserves.

No, it's that they prefer to criticize Trump
personally, rather than the effects of policy.

 

[sun rise]

No, it's that they prefer to criticize Trump
personally, rather than the effects of policy.

There are a gazillion attacks on his policy. They can be a bit hard to find given the machine gun way he attacks so many, but there are plenty of them and we'll see a lot more once the House gets to work in January.

 

[Revoltingest]

There are a gazillion attacks on his policy. They can be a bit hard to find given the machine gun way he attacks so many, but there are plenty of them and we'll see a lot more once the House gets to work in January.

Survey recent threads on RF.
There's an unhealthy preference for imminent arrests, falsehoods,
re-election chances, tailspins, reporter feuds, firings, Melania getting
counseling, etc.

 

[Watchmen]

No, it's classic "not doing your homework". Maybe actually check it out for yourself instead of blindly believing someone else, even including moi.

Oh I’ve done my homework. Our current economic success is attributable to Trump, not Obama. I’ll credit Obama for keeping us from thhome abyss, but Trump has made a HUGE difference.

 

[Watchmen]

What's Fox got to do with this?

I don’t know, Tina.

 

[Valjean]

Oh I’ve done my homework. Our current economic success is attributable to Trump, not Obama. I’ll credit Obama for keeping us from thhome abyss, but Trump has made a HUGE difference.

In my opinion, Trump has created a bubble with borrowed money, and, as the OP's link pointed out, industry isn't using it to create any real manufacturing growth that might sustain it.

 

[Revoltingest]

In my opinion, Trump has created a bubble with borrowed money, and, as the OP's link pointed out, industry isn't using it to create any real manufacturing growth that might sustain it.

I too am skeptical about Trump's inflating the deficit & national debt.
But to call the tax changes "tax cuts" is problematic.
For one thing, it includes increases in the form of curbing personal deductions.
For another, fed tax revenue is up....
Trump Tax-Cut Results: Federal Revenues Hit All-Time Highs | Investor's Business Daily
He could be truly called a "tax & spend" politician, eh.