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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 1454 Views
That is just to cover the additional costs. - 11/02/2019 03:36:23 PM 923 Views
Very good point! *NM* - 11/02/2019 04:07:17 PM 482 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 481 Views
All paid via Bitcoins! - 11/02/2019 04:07:46 PM 893 Views
I can't even imagine... - 11/02/2019 04:47:31 PM 935 Views
Agreed, it would destroy a lot of households. *NM* - 12/02/2019 04:59:45 AM 529 Views
You realize this is a ridiculous comparison, right? - 11/02/2019 06:06:55 PM 1127 Views
Eliminating my health insurance costs benefits my employer far more than me. - 11/02/2019 06:34:44 PM 932 Views
I agree, it's not obvious where that money would go. - 11/02/2019 08:14:31 PM 935 Views
The Trump tax cuts put an extra $300 per month in my take-home pay. - 11/02/2019 08:18:04 PM 899 Views
I was talking about the corporate tax reduction part. - 11/02/2019 08:39:08 PM 972 Views
So if they just took the money your employer is already paying... *NM* - 11/02/2019 11:43:02 PM 495 Views
Mookie why can't I buy into Medicare, why do you get Medicare? - 12/02/2019 12:47:42 AM 910 Views
I do not have Medicare even though I’m old enough to qualify. - 12/02/2019 12:52:04 AM 898 Views
I repeat why can't I buy into Medicare? - 12/02/2019 01:06:26 AM 873 Views
I liked Mike Tyson’s version. - 12/02/2019 03:06:51 AM 887 Views
I never answered your question, did I? - 13/02/2019 12:33:55 AM 853 Views
Buy in, he said. - 13/02/2019 12:41:29 AM 888 Views
Less than private insurance? - 13/02/2019 12:59:44 AM 883 Views
You are making assumptions here. - 13/02/2019 01:27:12 AM 942 Views
You’re right, I am. - 13/02/2019 02:08:02 AM 917 Views
Nothing wrong with that - 13/02/2019 03:18:40 AM 942 Views
I’m sorry Roland that your experiences have been so negative. - 13/02/2019 03:33:20 AM 880 Views
by the way, I’m on my third dirty Cajun martini... - 13/02/2019 03:41:51 AM 884 Views
It is probably good that I am broke right now - 13/02/2019 04:21:37 AM 899 Views
Yup... - 13/02/2019 05:00:42 AM 877 Views
Yes , you are right - 13/02/2019 05:16:07 AM 865 Views
I'll have to take your word for it... - 11/02/2019 07:14:15 PM 937 Views
Fair enough. - 11/02/2019 08:22:13 PM 912 Views
*nods* - 11/02/2019 10:16:12 PM 932 Views
Is it really wasteful? I think that is just your moral intuition. - 12/02/2019 12:55:21 AM 868 Views
Have you ever worked with the US government? - 12/02/2019 05:30:44 PM 951 Views
I can't import the paperwork and accounting software without importing their values? - 12/02/2019 06:08:07 PM 898 Views
As someone who writes technical documents and consults with software.... - 12/02/2019 09:30:33 PM 883 Views
Too many cooks, thus we must remain with the Status Quo? *NM* - 12/02/2019 10:06:32 PM 444 Views
On US government inefficiency... - 13/02/2019 12:45:39 AM 930 Views
I agree with you. - 13/02/2019 06:42:21 PM 894 Views
How is it ridiculous? - 12/02/2019 12:45:40 AM 912 Views

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