,/center>,/center>Supply side pro business economics without calling it supply side pro business economics. That’s smart politics.
And he didn’t need a magic wand; he just needed then government to stop stepping on the air hose of the economy...
Plus a percentage of that went to the IRS and Treasury. Not insignificant.
This is one of the two most significant impacts of the Trump tax reform. Contra TDS Paul Krugman, it’s NOT just that companies could keep more of their profits, it’s the effect on incentives.
The more significant impact is the repatriation of American MANAGEMENT. Prior to the tax reform, the dumbest thing any multinational company could every do was to have their headquarters in the United States and make all their worldwide profits subject to confiscatory U.S. taxation at double the worldwide average tax rate.
Now being an American company is no longer something to avoid.
It’s funny how economists like Krugman spend so much energy talking about the effect of tariffs on behavior but when it comes to income tax reductions they say the only thing it does is make corporations richer.
The Dems are mad because they didn’t get their greedy paws on any of it!..............
Promises made and kept.
This is one of the biggest fights I have whenever I talk about corporate taxation. No one seems to want to believe that not one single corporation has ever paid one penny in any tax of any kind.
The consumers pay the tax as part of the purchase price. The corporation always passes the tax along, just like any business or any organization.
None of them pay any tax, we pay it all.
Re: wage increases - where are they? As an over-50, white male in a larger corporation that does yearly reviews and “merit” increases, I don’t see the three percent claimed, especially if you include the offsetting significant increase in insurance premiums.
Is it indexed to the $15/hour program, where someone going from $10 to $15 is counted as a 50% increase? Or it is a real combined average?
Then again, the 20% increase the CEO and the rest of the board got, along with the rather large bonuses might be boosting the average as well.
I’d like to see what the average 20-year employee is getting for an increase. Not these skewing exceptions.
Don’t get me wrong - I am doing OK. But with near-zero raises for the last 10 years it is very frustrating to feel that 3% might be the limit.
And, again, over-50, white, male. Job hopping just isn’t in the cards.