a good start - the corporate side will generate millions of good middle class jobs.
And a bad deal if you are on the of middle class taxpayers whose taxes are going up in order to "pay for" the corporate rate to be slashed.
Why?
Why would it move the needle at all?
Here is the thing.
I have recently worked at two different plants in two different industries. Close to the same number of employees. Plant A had an EBITA of $5 million, Plant B has one of $60 Million.
They are both located in the same area, both have the same labor pool.
Plant A paid its workers better. They had a union. Plant B is having a record year, yet is cutting health insurance (again), vacation time (again), and lots of other cuts.
Having more money coming in is not going magically make any company give out raises, hire more, reduce consumer prices, or spend capital. More money WILL let upper level executives have larger bonuses and corporate headquarters a spiffy new cafeteria (which was nice).
I have been in the game to long to believe the snake oil. A bunch of “consultants” will arrive and announce “Wages really don’t have any bearing on retention. And you should replace the workforce every 18 months anyway! Oh, and cut 10% of the employees off the top and you will make more money!”
Simply put, there is little incentive for a large corporation to change anything just because they have more money. Costs are passed on, savings are banked. Taxing consumers MAY result in people buying less, but the way the US treats credit these days I doubt it.
I agree, more jobs, better wages, IRS reform, this alone is masterful.
Take in the leasing out the Gulf of Mexico.
Let the good times roll...
Next social security. MAGA
Unless a lot of these jobs are in infrastructure restoration rather than manufacturing of consumer goods I don’t see how the corporate side will generate million of middle class jobs. People are recycling more and buying less. Ever hear of the 700 mile yard sale? This will hurt the high end construction market. Of course, in some of our large cities developers have priced the middle class out of the market. Police, firepeople, teachers, hotel, hospital, and restaurant workers have to live out in the farther suburbs and commute into the city. Big problem with heavy duty weather getting them into town. Maybe developers will now have an incentive to build more middle class and worker housing like Trump’s father built to create the family fortune.