Trump Tax Cuts did NOT produce more jobs: STUDY

[ultmd]

The results are in, and they are not good news for the "tax cuts for the rich" narrative promoted by ALL Gop'ers and supply-siders...as usual.

The effect was great for corporations and shareholders...as predicted...but most CEO's report very little interest in hiring more workers and/or raising wage scales for their employees. For most, the sole focus is on investments in innovation and rewarding shareholders.

https://nabe.com/NABE/Surveys/Business_Conditions_Surveys/January_2019_Business_Conditions_Survey_Summary.aspx

Forbes: Why Trump's Tax Cut hasn't inspired Hiring


Finally, do any of our Gop'ers here want to discuss the effects on the deficit created by the Trump tax cut? If so, let's be prepared to compare the pre-Tax Cut arguments of the Trumpsters with the FACTS as we observe them today, ok?

Of course, none of this comes as unexpected news for most of us. This is EXACTLY what most economists argued BEFORE the Trump/GOP tax cuts were passed.

 

[Amelia]

Corporations lied to Trump ... not Trump's fault if they broke their promise. /Trump supporter mode


But, hey, Trump and the Mar-a-Lago set needed that money more than our grandkids will.

 

[Mr Person]

As I found myself saying elsewhere:


The behavior of the bulk of the right under the last two Republican administrations as compared to its behavior under Obama, and as also compared to the state of the economy/deficit under D vs. R admiinstrations, proves that the bulk of the right is completely, utterly, and irredeemably full of **** when it comes to caring about the deficits or debt.

Even when they're in power, they don't make any moves to meaningfully cut spending. They're happy to increase spending while simultaneously slashing government revenue. They only bitch about deficits when a D is president. They are not to be listened to.

They want what all that spending provides. That's why they never try to do anything about it. In fact, the only spending they wish they could cut is spending that helps people less fortunate than them. That really grinds their gears. It's all political hackery, really.

We need to ramp taxes back up to Clinton levels at least, calibrate until the budget is balanced, and only then, once we're feeling the cost of all the things we want, make some final decisions about spending. But no, much better to try to perpetuate another dishonest red meat issue, while borrowing almost a trillion a year to give handouts to the richest entities. (Well, ok, 600ish billion. Yearly debt service is something like 400 billion, I think).





It's a particularly obnoxious problem because we really can't just keep borrowing like this for ever. We're good for a while to go, yes, but that should produce urgency not malaise.

Where's the desire to grow up and be adult about it? If we can't cut spending - and it would appear we can't because each side has its sacred cows - then we need to raise taxes to whatever levels are necessary to actually pay for what we're buying. It won't happen. Even if some administration raise taxes so that we actually were paying for what we were getting, the next admin would slash taxes for political points. They don't care. They're all be dead by the time the **** really hits the fan. (Same thing with AGW and so many other things)

The future is full of bad from directions.

 

[LowDown]

The results are in, and they are not good news for the "tax cuts for the rich" narrative promoted by ALL Gop'ers and supply-siders...as usual.

The effect was great for corporations and shareholders...as predicted...but most CEO's report very little interest in hiring more workers and/or raising wage scales for their employees. For most, the sole focus is on investments in innovation and rewarding shareholders.

https://nabe.com/NABE/Surveys/Business_Conditions_Surveys/January_2019_Business_Conditions_Survey_Summary.aspx

Forbes: Why Trump's Tax Cut hasn't inspired Hiring


Finally, do any of our Gop'ers here want to discuss the effects on the deficit created by the Trump tax cut? If so, let's be prepared to compare the pre-Tax Cut arguments of the Trumpsters with the FACTS as we observe them today, ok?

Of course, none of this comes as unexpected news for most of us. This is EXACTLY what most economists argued BEFORE the Trump/GOP tax cuts were passed.

Bogus study.

Never trust anything the media says about Trump.

 

[Idiometer]

As most of us knew all along, Corporate America never had any intention to use that windfall to create jobs. Their only intentiin was to buy back their own stock, thus bumping up the value and keeping big shareholders (you know, other rich people) happy.

The GOP donor class got exactly what they wanted.

 

[Idiometer]

Bogus study.

Never trust anything the media says about Trump.

Can you cite a study showing this one to be in error?

 

[Moderate Right]

The results are in, and they are not good news for the "tax cuts for the rich" narrative promoted by ALL Gop'ers and supply-siders...as usual.

The effect was great for corporations and shareholders...as predicted...but most CEO's report very little interest in hiring more workers and/or raising wage scales for their employees. For most, the sole focus is on investments in innovation and rewarding shareholders.

https://nabe.com/NABE/Surveys/Business_Conditions_Surveys/January_2019_Business_Conditions_Survey_Summary.aspx

Forbes: Why Trump's Tax Cut hasn't inspired Hiring


Finally, do any of our Gop'ers here want to discuss the effects on the deficit created by the Trump tax cut? If so, let's be prepared to compare the pre-Tax Cut arguments of the Trumpsters with the FACTS as we observe them today, ok?

Of course, none of this comes as unexpected news for most of us. This is EXACTLY what most economists argued BEFORE the Trump/GOP tax cuts were passed.

How stupid. Statistics show that employment continues to rise and wage growth has grown faster than it had before. Now the left wants to spin that and claim that even though that is true, it didn't have anything to do with the tax cut.

 

[Lutherf]

Bogus study.

Never trust anything the media says about Trump.

Actually, I did some fact checking on this through various left wing sources and it turns out that the results in the OP are actually UNDERSTATED. Based on what I saw, the tax law put nearly 6.7 billion people into poverty, cost the jobs of 93 billion more and, once all the numbers are crunched, all the wealth in the world ended up in the hands of some guy named Yvgeny who just so happens to be a Russian Trump supporter.

 

[Exquisitor]

Bogus study.

Never trust anything the media says about Trump.

Trump would be OK if only he hadn't passed his tax plan.

 

[LowDown]

Can you cite a study showing this one to be in error?

All that's happened recently and you still rely on the media? Good God!

 

[iguanaman]

Can you cite a study showing this one to be in error?

The Trump cultists have ceased all contacts with reality much like their dear leader. It's a coping mechanism. The news about Trump is all bad so they just block it out.

 

[chuckiechan]

The results are in, and they are not good news for the "tax cuts for the rich" narrative promoted by ALL Gop'ers and supply-siders...as usual.

The effect was great for corporations and shareholders...as predicted...but most CEO's report very little interest in hiring more workers and/or raising wage scales for their employees. For most, the sole focus is on investments in innovation and rewarding shareholders.

https://nabe.com/NABE/Surveys/Business_Conditions_Surveys/January_2019_Business_Conditions_Survey_Summary.aspx

Forbes: Why Trump's Tax Cut hasn't inspired Hiring


Finally, do any of our Gop'ers here want to discuss the effects on the deficit created by the Trump tax cut? If so, let's be prepared to compare the pre-Tax Cut arguments of the Trumpsters with the FACTS as we observe them today, ok?

Of course, none of this comes as unexpected news for most of us. This is EXACTLY what most economists argued BEFORE the Trump/GOP tax cuts were passed.

Because no one has the power to force them to do what you want. We are expecting prices of Chinese goods to increase due to Trump policies, and american manufactures to fill in the slack. Its taken 40 years to get where we are, but now that one president got elected promising to stop China from plundering our country, everyone will be jumping on that bandwagon.

A complete re arrangement of the worlds supply chain and the multinationals that run it is going to take a long time. That is the reality.

 

[chuckiechan]

The Trump cultists have ceased all contacts with reality much like their dear leader. It's a coping mechanism.

Cut the cultist bull**** and the adults make honest arguments at least until page 4.

 

[iguanaman]

Because no one has the power to force them to do what you want. We are expecting prices of Chinese goods to increase due to Trump policies, and american manufactures to fill in the slack. Its taken 40 years to get where we are, but now that one president got elected promising to stop China from plundering our country, everyone will be jumping on that bandwagon.

A complete re arrangement of the worlds supply chain and the multinationals that run it is going to take a long time. That is the reality.

Your first mistake was believing Trumps lies about China "plundering" America. More Americans got rich selling Chinese goods than Chinese. Trump himself has made all his goods in China. Do you want us to start making goods to sell the Chinese instead? GM already sells more cars in China than the U.S. and wages in China are increasing while ours are stagnant.

 

[iguanaman]

Cut the cultist bull**** and the adults make honest arguments at least until page 4.

I'm afraid that any argument based on Trumps false claims are anything but honest. You should have learned by now that if Trumps mouth is moving he is lying. That's is why I call you "cultists".

 

[Grokmaster]

The results are in, and they are not good news for the "tax cuts for the rich" narrative promoted by ALL Gop'ers and supply-siders...as usual.

The effect was great for corporations and shareholders...as predicted...but most CEO's report very little interest in hiring more workers and/or raising wage scales for their employees. For most, the sole focus is on investments in innovation and rewarding shareholders.

https://nabe.com/NABE/Surveys/Business_Conditions_Surveys/January_2019_Business_Conditions_Survey_Summary.aspx

Forbes: Why Trump's Tax Cut hasn't inspired Hiring


Finally, do any of our Gop'ers here want to discuss the effects on the deficit created by the Trump tax cut? If so, let's be prepared to compare the pre-Tax Cut arguments of the Trumpsters with the FACTS as we observe them today, ok?

Of course, none of this comes as unexpected news for most of us. This is EXACTLY what most economists argued BEFORE the Trump/GOP tax cuts were passed.

Of course. The repatriation of $BILLIONS of US dollars invested here on the heels of the tax cuts did nothing, employment-wise.

We are enjoying HISTORIC LOW UNEMPLOYMENT by chance.

FIRST ANNUAL 35+ growth since BEFORE MOMMY PANTS, just a coincidence, too...

 

[celticwar17]

Your first mistake was believing Trumps lies about China "plundering" America. More Americans got rich selling Chinese goods than Chinese. Trump himself has made all his goods in China. Do you want us to start making goods to sell the Chinese instead? GM already sells more cars in China than the U.S. and wages in China are increasing while ours are stagnant.

Okay, every other criticism in this thread was fair..... but this one is absolutely bogus.

You obviously have zero knowledge about China/USA relations and trade relations.

You should ask around for more knowledge.

There is not a country on this earth that is more a threat to the USA than China.

 

[Bullseye]

The results are in, and they are not good news for the "tax cuts for the rich" narrative promoted by ALL Gop'ers and supply-siders...as usual.

The effect was great for corporations and shareholders...as predicted...but most CEO's report very little interest in hiring more workers and/or raising wage scales for their employees. For most, the sole focus is on investments in innovation and rewarding shareholders.

https://nabe.com/NABE/Surveys/Business_Conditions_Surveys/January_2019_Business_Conditions_Survey_Summary.aspx

Forbes: Why Trump's Tax Cut hasn't inspired Hiring


Finally, do any of our Gop'ers here want to discuss the effects on the deficit created by the Trump tax cut? If so, let's be prepared to compare the pre-Tax Cut arguments of the Trumpsters with the FACTS as we observe them today, ok?

Of course, none of this comes as unexpected news for most of us. This is EXACTLY what most economists argued BEFORE the Trump/GOP tax cuts were passed.

And all the job growth, half-million new manufacturing jobs, etc. are due to what? Pixie dust.

OH, and did you notice this in the NABE report

“The goods-producing sector, however, has borne the greatest impact, with most respondents in that sector noting accelerated investments at their firms, and some reporting redirected hiring and investments to the U.S.

Oh, and Fortune says:

The lower tax rates did have an impact in the goods-producing sector, NABE found, with 50% of respondents reporting increased investments at their companies, and 20% saying they redirected hiring and investments to the U.S. from abroad.

Oh, and the National Association of Manufactures says:

American manufacturers are investing in new equipment and facilities while also putting more money into workers' paychecks, according to a survey released Wednesday by the National Association of Manufacturers (NAM).
Emerson chairman and CEO and NAM board chairman David Farr delivered the results of the new survey to the House Ways and Means Committee in testimony on Wednesday morning.
Of the manufacturers surveyed, 72 percent said they're putting extra money from the tax cuts back into workers' benefits and salaries, 77 percent said they were hiring more employees, and 86 percent said they were investing in equipment and building plants.

 

[ultmd]

Bogus study.

Never trust anything the media says about Trump.

:lamo
Learn how to read a study before you try to dismiss one as "bogus", ok?

Clearly, you haven't read anything. And that's not a surprise, because most right wingers HATE to read anything that (A) challenges, even slightly, their pre-existing biases...and (B) is more than a few paragraphs (at most).

So that's ok, "lowdown". I wasn't really counting on much more than what you provided.

Have a good day.

 

[ultmd]

How stupid. Statistics show that employment continues to rise and wage growth has grown faster than it had before. Now the left wants to spin that and claim that even though that is true, it didn't have anything to do with the tax cut.

Geez.....try READING a little before spewing "stupid" rebuttals, please.

Yet again, we have a right winger commenting without reading the information provided in the OP.

Read, people!

Read!

Or, en lieu of that, just hush up and let educated grown folk carry the discussion.:roll:

 

[Amelia]

And all the job growth, half-million new manufacturing jobs, etc. are due to what? Pixie dust.

OH, and did you notice this in the NABE report


Oh, and Fortune says:

Oh, and the National Association of Manufactures says:

American manufacturers are investing in new equipment and facilities while also putting more money into workers' paychecks, according to a survey released Wednesday by the National Association of Manufacturers (NAM).
Emerson chairman and CEO and NAM board chairman David Farr delivered the results of the new survey to the House Ways and Means Committee in testimony on Wednesday morning.
Of the manufacturers surveyed, 72 percent said they're putting extra money from the tax cuts back into workers' benefits and salaries, 77 percent said they were hiring more employees, and 86 percent said they were investing in equipment and building plants.

That's from May 2018. Sounds like that didn't pan out.

 

[tres borrachos]

The results are in, and they are not good news for the "tax cuts for the rich" narrative promoted by ALL Gop'ers and supply-siders...as usual.

The effect was great for corporations and shareholders...as predicted...but most CEO's report very little interest in hiring more workers and/or raising wage scales for their employees. For most, the sole focus is on investments in innovation and rewarding shareholders.

https://nabe.com/NABE/Surveys/Business_Conditions_Surveys/January_2019_Business_Conditions_Survey_Summary.aspx

Forbes: Why Trump's Tax Cut hasn't inspired Hiring


Finally, do any of our Gop'ers here want to discuss the effects on the deficit created by the Trump tax cut? If so, let's be prepared to compare the pre-Tax Cut arguments of the Trumpsters with the FACTS as we observe them today, ok?

Of course, none of this comes as unexpected news for most of us. This is EXACTLY what most economists argued BEFORE the Trump/GOP tax cuts were passed.

That's pretty sad, but not unexpected. Remember, who was it....Mnuchin maybe....who asked a bunch of CEOs if they were going to hire more employees if the tax cuts were passed, and like almost none of them agreed to do it? I have to go back and check the news, but that was right before the cuts were passed.

Look, I'm a stockholder and I love nothing more than shareholder equity and profit sharing, so I'm okay with this. I just don't like to see Americans get douchenozzled, as the GOP did to their loyalists.

 

[rocket88]

Bogus study.

Never trust anything the media says about Trump.

So, where else do I get information? You're not saying you trust the administration are you?:lamo

 

[ultmd]

All that's happened recently and you still rely on the media? Good God!

Oh, one last point....

The "media" has ZERO to do with the study...other than reporting it's results.

Again, try READING before polluting the board with more of your words, please.

 

[Bullseye]

That's from May 2018. Sounds like that didn't pan out.

2018 was a month ago. :roll: We have already exceeded records for job openings created, got involuntary part timer back on the full time track, created a half-million new manufacturing jobs, set a record for fewest new jobless claims, seen year over year wage growth and household income gains. But, it's not working because Trump might get credit - that about cover it?