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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 1076 Views
That is just to cover the additional costs. - 11/02/2019 03:36:23 PM 578 Views
Very good point! *NM* - 11/02/2019 04:07:17 PM 307 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 320 Views
All paid via Bitcoins! - 11/02/2019 04:07:46 PM 546 Views
I can't even imagine... - 11/02/2019 04:47:31 PM 592 Views
Agreed, it would destroy a lot of households. *NM* - 12/02/2019 04:59:45 AM 346 Views
You realize this is a ridiculous comparison, right? - 11/02/2019 06:06:55 PM 761 Views
Eliminating my health insurance costs benefits my employer far more than me. - 11/02/2019 06:34:44 PM 613 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 568 Views
I was talking about the corporate tax reduction part. - 11/02/2019 08:39:08 PM 608 Views
So if they just took the money your employer is already paying... *NM* - 11/02/2019 11:43:02 PM 320 Views
Mookie why can't I buy into Medicare, why do you get Medicare? - 12/02/2019 12:47:42 AM 568 Views
I do not have Medicare even though I’m old enough to qualify. - 12/02/2019 12:52:04 AM 542 Views
I repeat why can't I buy into Medicare? - 12/02/2019 01:06:26 AM 535 Views
I liked Mike Tyson’s version. - 12/02/2019 03:06:51 AM 570 Views
I never answered your question, did I? - 13/02/2019 12:33:55 AM 546 Views
Buy in, he said. - 13/02/2019 12:41:29 AM 544 Views
Less than private insurance? - 13/02/2019 12:59:44 AM 547 Views
You are making assumptions here. - 13/02/2019 01:27:12 AM 543 Views
You’re right, I am. - 13/02/2019 02:08:02 AM 567 Views
Nothing wrong with that - 13/02/2019 03:18:40 AM 557 Views
I’m sorry Roland that your experiences have been so negative. - 13/02/2019 03:33:20 AM 552 Views
by the way, I’m on my third dirty Cajun martini... - 13/02/2019 03:41:51 AM 555 Views
It is probably good that I am broke right now - 13/02/2019 04:21:37 AM 568 Views
Yup... - 13/02/2019 05:00:42 AM 550 Views
Yes , you are right - 13/02/2019 05:16:07 AM 578 Views
I'll have to take your word for it... - 11/02/2019 07:14:15 PM 582 Views
Fair enough. - 11/02/2019 08:22:13 PM 582 Views
*nods* - 11/02/2019 10:16:12 PM 583 Views
Is it really wasteful? I think that is just your moral intuition. - 12/02/2019 12:55:21 AM 532 Views
Have you ever worked with the US government? - 12/02/2019 05:30:44 PM 583 Views
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As someone who writes technical documents and consults with software.... - 12/02/2019 09:30:33 PM 554 Views
Too many cooks, thus we must remain with the Status Quo? *NM* - 12/02/2019 10:06:32 PM 290 Views
On US government inefficiency... - 13/02/2019 12:45:39 AM 569 Views
I agree with you. - 13/02/2019 06:42:21 PM 524 Views
How is it ridiculous? - 12/02/2019 12:45:40 AM 567 Views

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