Tax cut has already increased revenue
https://www.axios.com/tim-cook-the-tax-plan-is-1516307596-0dfa1de4-c2d8-46a0-bff9-4d5052115887.html?source=sidebar That’s 38 billion in tax revenue from just one company. That’s more than enough to build a wall. Not to mention an additional 20,000 new jobs. How could anyone call his “trickle” down?
Axios
What are you talking about? That's literally trickle down in effect. I'm still skeptical of trickle down being THAT effective, but obviously we see some benefit. But at what cost?
I’m fully aware of what trickle down means. Sorry if my sarcasm wasn’t obvious. “Trickle down” is a term made up by liberals. The implication is that very little “trickles” down to lower income folks when you cut taxes for the rich. Hence the sarcasm. 38 billion + 20,000 high paying jobs (and the added tax revenue from said jobs) is not trickle down. It’s flooding down. But what do you mean by “at what cost?” Apple would never had repatriated 200+ billion if it meant paying 88 billion in taxes under the old tax plan. 20% of 200 billion is more than 44% of 0
See deficit comments above. As far as the effect, let's measure that by wage increases over the next several years and see how that plays out. If we see wage growth outpace inflation at a healthier clip, then I may start to feel more confident in trickle down.
How? Apple barely pays any taxes as it is
Exactly. The rate is too high right now for them to repatriate 200 billion from offshore holdings. 0 x 44% = 0 But since the rate is now much lower they are willing to repatriate that cash and invest in country. The 38 billion is just an instant cherry on top.
I’ll see it then I’ll believe it.
As someone who didn’t vote for Trump, I have to admit, I’m pleasantly surprised at how well the economy’s doing. Gotta give credit where credit is due.
Some presidents are grinders, others are rainmakers. Trump is a rainmaker.
Oh just wait. Reagan had the same glowing praise before being forced to raise taxes multiple times. Powder the ball sacks while you can fellas. This ARM blows up in 10 years guaranteed. If not sooner.
OP doesn't know the difference between tax revenue and corporate assets
How stupid are you? Do you not know that the tax bill that was passed also deals with corporate tax? You know what repatriation is? I’ll let you click on the link I posted (or you could google the Apple announcement yourself).
No tax is payable on repatriated funds. Tax is payed on income, not assets. Stop calling other people stupid when you are ignorant.
Tax cuts are going to add 1.5 trillion dollars plus 300 billion in interest payments to the US' deficit. The hope is that the added income to families will help stimulate the economy enough to make up for this deficit. Citing one example of a company, that is under no legal obligation to deliver on its promises, as the success of tax cuts is plain stupid. Read up on deficit projections, national debt increase to understand the real impact of a tax cut.
According to the CBO. But they haven’t been able to accurately predict the financial ramifications of any bill it has ever evaluated. Not even close. No better than throwing darts. https://www.forbes.com/sites/theapothecary/2017/07/18/cbo-budget-projections-after-two-years-no-better-than-throwing-darts/#6762349867a2