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I was talking about the corporate tax reduction part. Legolas Send a noteboard - 11/02/2019 08:39:08 PM

Which after all was by far the largest part of the total package - according to the first link I came across, 63 percent of the total tax saving went to companies, and only 31 percent to individuals. I think it's fair to say that the Republicans used the tax cuts for individuals partially as a smoke screen to make it politically palatable to drastically reduce corporate tax rates at the same time. If they had wanted to, they could perfectly have done tax cuts on income tax only while leaving corporate rates untouched.

Anyway, even if you look at the individual tax cuts, most of the individuals' share of the saving still went to the wealthiest people, since obviously they are the ones paying the largest amounts. That's only logical really, but there too, the wealthy people won't necessarily increase spending and stimulate the economy when they get to pay less taxes. So in terms of the total hit that the Treasury takes in lost tax income, it's quite a small share that goes to people for whom it really makes a significant difference (adding up the increased job opportunities, higher wages in existing jobs and lower income tax ).

This message last edited by Legolas on 11/02/2019 at 08:39:16 PM
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Medicare for All - just add 36% points to your marginal tax rate - - 11/02/2019 02:30:53 PM 1104 Views
That is just to cover the additional costs. - 11/02/2019 03:36:23 PM 603 Views
Very good point! *NM* - 11/02/2019 04:07:17 PM 320 Views
But I heard we can just print some $1 Trillion coins and pay for it that way *NM* - 11/02/2019 03:38:01 PM 330 Views
All paid via Bitcoins! - 11/02/2019 04:07:46 PM 569 Views
I can't even imagine... - 11/02/2019 04:47:31 PM 617 Views
Agreed, it would destroy a lot of households. *NM* - 12/02/2019 04:59:45 AM 358 Views
You realize this is a ridiculous comparison, right? - 11/02/2019 06:06:55 PM 789 Views
Eliminating my health insurance costs benefits my employer far more than me. - 11/02/2019 06:34:44 PM 635 Views
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The Trump tax cuts put an extra $300 per month in my take-home pay. - 11/02/2019 08:18:04 PM 594 Views
I was talking about the corporate tax reduction part. - 11/02/2019 08:39:08 PM 636 Views
So if they just took the money your employer is already paying... *NM* - 11/02/2019 11:43:02 PM 330 Views
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I do not have Medicare even though I’m old enough to qualify. - 12/02/2019 12:52:04 AM 566 Views
I repeat why can't I buy into Medicare? - 12/02/2019 01:06:26 AM 561 Views
I liked Mike Tyson’s version. - 12/02/2019 03:06:51 AM 593 Views
I never answered your question, did I? - 13/02/2019 12:33:55 AM 569 Views
Buy in, he said. - 13/02/2019 12:41:29 AM 569 Views
Less than private insurance? - 13/02/2019 12:59:44 AM 573 Views
You are making assumptions here. - 13/02/2019 01:27:12 AM 567 Views
You’re right, I am. - 13/02/2019 02:08:02 AM 592 Views
Nothing wrong with that - 13/02/2019 03:18:40 AM 579 Views
I’m sorry Roland that your experiences have been so negative. - 13/02/2019 03:33:20 AM 574 Views
by the way, I’m on my third dirty Cajun martini... - 13/02/2019 03:41:51 AM 576 Views
It is probably good that I am broke right now - 13/02/2019 04:21:37 AM 594 Views
Yup... - 13/02/2019 05:00:42 AM 573 Views
Yes , you are right - 13/02/2019 05:16:07 AM 604 Views
I'll have to take your word for it... - 11/02/2019 07:14:15 PM 607 Views
Fair enough. - 11/02/2019 08:22:13 PM 606 Views
*nods* - 11/02/2019 10:16:12 PM 609 Views
Is it really wasteful? I think that is just your moral intuition. - 12/02/2019 12:55:21 AM 556 Views
Have you ever worked with the US government? - 12/02/2019 05:30:44 PM 607 Views
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Too many cooks, thus we must remain with the Status Quo? *NM* - 12/02/2019 10:06:32 PM 302 Views
On US government inefficiency... - 13/02/2019 12:45:39 AM 597 Views
I agree with you. - 13/02/2019 06:42:21 PM 546 Views
How is it ridiculous? - 12/02/2019 12:45:40 AM 597 Views

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