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applegrove

(118,682 posts)
Wed Apr 4, 2018, 06:33 PM Apr 2018

Trump Adviser Admits Tax Cuts For The Rich Are Lowering Wages

JASON EASLEY at Politicus USA

https://www.politicususa.com/2018/04/04/trump-adviser-admits-tax-cuts-for-the-rich-are-lowering-wages.html

"SNIP........

Navarro said, “I was a little puzzled when the Fed announced three rate hikes before the end of the year because when I look at the chess board “I don’t see any inflation to speak of in the economy, and a lot of reason is things like the President’s tax cuts, which are going to stimulate a lot of investment, productivity growth and downward pressure on wages.”

......

Moody’s summed up why workers see no benefit from the tax cuts, “We do not expect a meaningful boost to business investment because U.S. nonfinancial companies will likely prioritize share buybacks, M&A and paying down existing debt. Much of the tax cut for individuals will go to high earners, who are less likely to spend it on current consumption.”

The theory behind the Trump tax cuts is that by giving corporations massive tax cuts, Republicans would spur investment, which would result in growth, and higher wages. What is really happening is that corporations are buying back stock, buying the competition, and paying down debt. By taking money out of the economy, and not giving tax cuts to the people who really spend, the Trump administration has created a downward pressure on wages.

The tax cuts are intended to increase productivity and keep wages low. Navarro admitted as much. The tax cuts for the rich and corporate America were a scam. They were never about helping workers. The benefits were intended to be for the wealthiest Americans and biggest corporations.

......SNIP"

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Trump Adviser Admits Tax Cuts For The Rich Are Lowering Wages (Original Post) applegrove Apr 2018 OP
Two types of Republican voters: millionaires and suckers. John Fante Apr 2018 #1
Whoa....you mean trickle down economics DOES NOT WORK???!?!??! Moostache Apr 2018 #2
Trickles right down to the outhouse basement RainCaster Apr 2018 #7
Seems to me,we here on this forum Wellstone ruled Apr 2018 #3
Yeah, prices are not going down. Blue_true Apr 2018 #4
As someone who was Wellstone ruled Apr 2018 #6
It just amazes me how many working stiffs really believe that the rich are going to share their smirkymonkey Apr 2018 #5
Why don't people study HISTORY !!! Civic Justice Apr 2018 #8
 

Wellstone ruled

(34,661 posts)
3. Seems to me,we here on this forum
Wed Apr 4, 2018, 06:52 PM
Apr 2018

figured that out from day one. Yes,there are some who believed the Propaganda. If folks have been out shopping for anything,you are seeing major price increases happening in real time.

So that average ten dollars a week is now eaten up by twenty to thirty dollar increases in your purchases.

Trickle down has now slowed to drip down,

Blue_true

(31,261 posts)
4. Yeah, prices are not going down.
Wed Apr 4, 2018, 07:03 PM
Apr 2018

I dropped $400 this weekend replacing household items. Really everyday stuff too.

 

Wellstone ruled

(34,661 posts)
6. As someone who was
Wed Apr 4, 2018, 07:08 PM
Apr 2018

involved with Consumer Staples for most of my life. Here is one thing that old time Retailers used as a benchmark. When your Customer is not aware of the Price of a Loaf Of Bread,they either have plenty of disposal Income or they do not do the shopping.

 

smirkymonkey

(63,221 posts)
5. It just amazes me how many working stiffs really believe that the rich are going to share their
Wed Apr 4, 2018, 07:08 PM
Apr 2018

ill-gotten gains with them. It's a combination of stupidity and gullibility. It has never been the case and never will be but they fall for it every single time!

 

Civic Justice

(870 posts)
8. Why don't people study HISTORY !!!
Wed Apr 4, 2018, 07:36 PM
Apr 2018

Historical Corporate Tax Rates In America:

((The U.S. corporate income-tax rate is also not high by historic standards. The statutory corporate tax rate has gradually been reduced from over 50 percent in the 1950s to its current 35 percent. The current U.S. corporate tax rate does not appear to be impeding corporate profits. Jun 4, 2013))

When American Corporate Tax Rates Were At Their Highest- America Prospered Like No Other Nation. WHY? Because Corporations "had to" INVEST IN AMERICA, to have access to the deductions that lowered their tax, but lowering their taxes by this means, also stimulated "business investments" in America !!! It also supported "Union Wages and Benefits"... and companies made profits at levels that "Business in America Was Stable", Companies Expanded Their Operations and they Hired Employees.

Their profit was so good, they invested in global outreach !!!

When Taxes were reduced, the incentive to "invest in American, the incentive to "Build and Expand", and the incentive to "Support Unions", and the incentive to "Hire People" ... vanished...

Check the chart for yourself- and consider the period when America's Growth and Development was greatest, is when the taxes were high for Corporations https://www.irs.gov/pub/irs-soi/02corate.pdf

Corporations took that profit windfall of lower taxes and moved that money "off shore", and accelerated their investment in setting up shop on Foreign Soils. Their excuse to the people is: Its not cost effective to produce in America!!!
Heck, Trump follows that ideal, because he produces nothing he slaps his name on in America!!! and he has a history of not paying the taxes he owes.


Couple that madness with the Corporate Mentality, that detested the Civil Rights Act, because they knew it would mean jobs for Minorities and Women... and in a "White Male Dominated America" of that Era... They would do anything to ensure there is no path to Middle Class Life for Minorities and Women on a Economic Equilibrium with White Males. The lower the rate became the more companies closed in America and the more money was moved Off Shore... and the less and less there was an avenue for Minorities and Women to gain Economic Parity with the "White Male Dominated System".

People don't want to tie the dots together to see the picture, because many even thought they can't discern it or won't discern it... a great mass of white society, did not and there are still many who do not want to relinquish "white privilege" in order to support "Full Circle Equality". Poor White and those working poor whites who had not achieved middle class standards by this time, 'were and are considered as nothing more than acceptable collateral damage", there are the right wingers "claiming they were left behind".... they were used to keep racist madness spinning in general society, while the wealthy "amassed fortune to the tune, they are no longer just "millionaires", they count their money now in 10's, 100's of millions and 10's of Billions... and they are not going to give "one penny' to the poor whites who claim they are the forgotten.. and definitely not when these same group of poor and uneducated whites are too valuable to the wealthy in the wealthy's aim to CONTINUE to use them to promote "racist madness"... while the wealthy turn Democracy into a Nation that is fast becoming a Plutocracy. Trump Played them, and he did it with the blessing of the Republican Party and its System and in doing so, hoodwinked the the same poor white and working poor whites to endorse "Giving the Wealthy an even lower Tax Rate... so the wealthy can continue to repeat the cycle.. of hiding money, and investing in any country they can find slave wage labor.


These poor white and working poor white people who relish the history of white priviledge... are desperate to cling to that want.
((...for those who claim there is no white privilege, or want to pretend they don't know what it is, here's a link that might help you understand: https://www.democraticunderground.com/1186576 ))

They are like LBJ said:

"President Lyndon B. Johnson once said, "If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you."


As long as people are content to just make jokes, the conversations of the truth will never circulate within the mass of society.

America has many people with limited education, where it lacking from being in school or lacking from self research to learn, and the truly sad part is... its not just among the Republican Ranks of the Population, it is too, among the Democrat's Ranks of the Population.

Even in society today, people can quote professors, or cite some poet's they learned about... but when it comes to promoting dialog with dialog... we can see vividly in this site, there is a mass of 'one liner" slap stick comments as if that's the default manner of interacting in a forum. Habits become Habits.... !!!

Everything about Trump's Tax Cut Plan, was to play on the same game that was historically played when Taxes were Cut... and this also means...Cut Public Programs, Destroy Government Agencies that Support Public Programs, Environmental Programs, and Launch an incessant attack upon every element of Government Panels that support and promote Regulatory Governance.


People have to look back and learn... The Confederacy, was not a system that cared to pay fair wages and certainly it was not going to invest any penny in public services programming. Because the Plutocrats of that System, were the law makers and policy makers and their own policy concerns were based on further enriching themselves, and maintain a system of "
indenturing people !!!! to the extremes of supporting slavery.

It's WAKE UP TIME... its time to actually promote dialog that society can again, be motivated to think and interactively talk... "Interactively talking" is what launched every movement by the people that has every taken place in America. people need the dialog to inspire information that can promote "''interactively talking" ....
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