Several of my friends were very bullish on the Trump tax cuts and believed they would lead to sustained 5% or greater growth. I thought that was very unlikely. And of course growth has been far lower.
Why not make it an actual middle class tax cut and give some of the cut to us, the actual middle class?
Or is there some economic reason for giving the upper 1 tenth of 1 percent a massive 10 percent increase in income while giving us, the actual middle class, a 1 percent increase? I can't see it. It seems to me that the same economic effect could be achieved with a broader distribution of the tax cuts.
Projections made by the Non partisan Tax Policy Center.
Click to read the article.
Of course we never got close to 5% growth of GDP.
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The nonpartisan group said the economy’s strong performance came largely from factors already in place.
Workers received only marginal benefits, with bonuses from companies amounting to just $28 per employee.
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Can't see much GDP growth from the Trump Tax cut.
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Our national debt continues to rise rapidly.
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The 400 richest U.S. families now pay a lower overall tax rate than the middle-class, the first time that's happened in 100 years, according to economists Emmanuel Saez and Gabriel Zucman.
Hard to believe that we the people elected the people who pulled this one off. The name for us is suckers chumps marks fools.
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We are spending too much and taxing too little. We must get back into balance and start paying down our debt. The Trump tax exacerbated the problem.
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