LA Times:Trump tax cuts have done virtually no economic good

[iluvtennis]

@latimes
The tax cuts have had virtually no effect on wages, haven’t contributed to a surge in investment, and haven’t come close to paying for themselves.

Nor have they delivered a cut to the average taxpayer.

More from columnist
@hiltzikm

Link to tweet

https://www.latimes.com/business/hiltzik/la-fi-hiltzik-tax-cut-effects-20190529-story.html

You may remember all the glowing predictions made for the December 2017 tax cuts by congressional Republicans and the Trump administration: Wages would soar for the rank-and-file, corporate investments would surge, and the cuts would pay for themselves.

The nonpartisan Congressional Research Service has just published a deep dive into the economic impact of the cuts in their first year, and emerges from the water with a different picture. The CRS finds that the cuts have had virtually no effect on wages, haven’t contributed to a surge in investment, and haven’t come close to paying for themselves. Nor have they delivered a cut to the average taxpayer.

continued at link

[Skittles]

1. rich people made out like bandits

LITERALLY

[SunSeeker]

2. K & R for exposure.

[BigmanPigman]

3. Will his supporters care?

Of course the 1% love it but what about the average GOP voter? Not all are as stupid as his cult so will their personal economic status effect how they vote in 2020? Bannon said that those who are hurt by his tariffs will be OK with a little financial hardship now since they understand that they will benefit down the road.

Sure!

[smirkymonkey]

4. Wow, what a shock!

Who knew?

Did anyone but his idiot cult members really think this was going to benefit anyone but the 1% and corporations? No, of course not, but the morons will still vote for his bloated, fat, orange ass again like the sheep they are.

[ooky]

5. Of course, this was totally predicted. So, let's rescind them.

No need to keep funding them with deficit spending if they aren't doing anything to help the economy or lower taxes for the majority of Americans.

Or use that money to pay for things that will help most Americans.

[duforsure]

6. The one time stock buyback surge

Won't keep it going to long before it hits the markets again, and trump used our money to bribe the wealthy with their tax scam, then cut trillions from needed programs for the poor and middle class. You can't keep the economy propped up taking trillions out of health care, and other area's , and expect it to stay going up. It won't, and more businesses will turn on trump for his failed policies dramatically hurting their bottom line , and threatening them if they don't do as he says. Its was all a lie to the American people from trump and the gop, as everyone realized at tax time from shock it wasn't at all like trump or the gop said. People are turning on trump and the tweets are getting more and more ignored.

[miyazaki]

7. kick