Posted on 12/04/2017 5:23:15 AM PST by Discoshaman
"A look at how the Republican tax cut plan will benefit workers' wages, stimulate exports, and encourage foreign direct investment in America. I give the GOP Tax Plan 4 out of 5 stars."
So who is this guy and why should I believe for a moment he knows what he’s talking about?
By using your logic and intelligence. Does he quote the plan correctly and do his outcomes sound logical.
Same way we decide who to trust in most aspects of life.
If you want someone to tell you who to trust, the battle is lost. That’s why the dumbing down of our schools will destroy this country.
During campaign Trump wanted a 10% repatriation rate.
Even just before September 2017 he wanted that rate.
Now I see the rate went up by a whopping 40% to 14%, in both the Senate and house bill.
Where are the budget cuts and department eliminations and consolidation? Where is the spending for at least a third of the wall?
I will be looking at whether APPL and CSCO find paying additional taxes above the foreign taxes already paid on their profits is worth another 14% tax. Appl and Cisco both have enough cash in the USA for corporate goals in USA. Both could just bring back money and set up more business in Canada.
So your interpretation is that corporates have been treated unfairly in this bill.
Corporations don’t pay taxes, people do. The burden is placed on the stockholders in lesser dividends, the employees in lesser salaries or its customers in increased prices.
So then he has no more credibility than I do. And if I think that many of his outcomes sound illogical then who is to say he is right and I am wrong?
And when you cut the corporate taxes then only one of those three will change. Here's a hint. It isn't number two or number three.
You get to decide. For yourself. As we all do.
You can post, though, your reasons for thinking he’s wrong or right if you like.
I haven’t read much on specifics of the corporate tax cuts. I’ll do that and watch the video - but a shower and coffee first!
Well then let's take his claim that the corporate tax cuts will lead to higher wages. There is zero evidence to support that and significant recent evidence to show it's incorrect.
Budget cuts wouldn’t be in a tax bill.
Would wall funding be in it? Without that wall, we’ll lose the house, senate, and Trump won’t win again.
What is the current corporate top tax rate? I’ll bet it’s been cut substantially, even if higher than the 10% stated. Wasn’t it 39%? If now cut to 14, that’s huge.
Is it an indirect effect? What causes higher wages? Likely inflation plus full employment (more competition for the workers). What else?
An increase in GDP will hike inflation. If the fed doesn’t artificially hold it down, as they have been.
I’m not against capitalism. It works if not punished. If we want companies to quit outsourcing, they need a financial reason to stay on shore.
Statistically speaking we're at full employment already.
I’m not against capitalism. It works if not punished. If we want companies to quit outsourcing, they need a financial reason to stay on shore.
Companies will continue to offshore so long as their costs are lower. Cutting U.S. taxes isn't going to change that. Companies will always seek to cut expenses and maximize profits. Taxes are an expense. So are wages. If makes no sense to believe that if you cut one expense then companies will raise another in response.
Well then let’s take his claim that the corporate tax cuts will lead to higher wages. There is zero evidence to support that and significant recent evidence to show it’s incorrect.
This article differs with your opinion:
Companies will always seek to cut expenses and maximize profits. Taxes are an expense. So are wages. If makes no sense to believe that if you cut one expense then companies will raise another in response.
But there are costs to moving overseas as well. Lower wages are not the only consideration. Doing business in the U.S. has many advantages, primarily the reliability of the rule of law, better workers, social cohesion with customers, and overall stability.
Ok that makes sense.
If wages aren’t increased, is the tax cut entropy bring them back, do you think?
I would point him to two recent examples which tend invalidate his theory - North Carolina and Kansas. If, as he says, all taxes are taken from employees wages then when North Carolina and Kansas both slashed corporate income taxes then it should have had an impact on employee wages in the state. Yet there is no indication that wage increases in either state were higher than wage increases in neighboring states. There is no indication that cutting taxes led to more jobs being created since neither North Carolina or Kansas consistently out-performed their neighbors.
Corporations will do all they can to maximize profits and minimize expenses. Wages are an expense, as are taxes. Cutting one expense does not mean that the other expense will go up as a result.
No. What I'm saying is don't do one thing expecting the other to result.
The video has a ton of charts, statistics, and other information, and connects them into a coherent narrative. Generally, a viewer would listen and evaluate, to see if the arguments are compelling.
How do YOU normally process new information?
I am 78.
I started working when I was 15.
I have worked in a number of jobs & locations in the USA.
I NEVER got a paycheck from a poor person.
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