NBC: Tax cuts don't spur economic growth
- Thread starter mentalfloss
- Start date
In the grand scheme of things tax cuts for the rich do not spur economic growth. This expands the most passive forms of capital at the expense of the most active in consumer spending. In fact government spending on infrastructure and services is as much a spur to economic activity as that from the private sector. The fanaticism around deficits is a chimera and a product of monetarist dogma (commodification and free markets in currency and credit).
But the surest anchor to sustainable economic growth is a large and prosperous middle class. That requires a fair and progressive tax system and a dirigiste role for government in ensuring and equitable sharing of wealth, fair wages.
The libertarian NeoCon/NeoLib policies of free trade, monetarism, deregulation, privatization, and regressive taxation (with respect to income, capital gains, estates) has decimated the Middle Class. We have an economy now the rewards the most parasitic elements in the economy (investment banking, trading) at the expense of the productive sectors.
I think Trump's tax cuts, which were rightly seen as a tax cut for the rich, is the reason he lost the House in the midterms.
But the surest anchor to sustainable economic growth is a large and prosperous middle class. That requires a fair and progressive tax system and a dirigiste role for government in ensuring and equitable sharing of wealth, fair wages.
The libertarian NeoCon/NeoLib policies of free trade, monetarism, deregulation, privatization, and regressive taxation (with respect to income, capital gains, estates) has decimated the Middle Class. We have an economy now the rewards the most parasitic elements in the economy (investment banking, trading) at the expense of the productive sectors.
I think Trump's tax cuts, which were rightly seen as a tax cut for the rich, is the reason he lost the House in the midterms.
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When you consider that each generation is dumber, lazier, and more immoral than the one before (just ask the one before), it makes a body wonder how we can be healthier, wealthier, and more free than any generation in history.
Connecticut Boat Dealers Hire 85% More Full Time Employees After State Legislature Cuts Tax
https://townhall.com/tipsheet/timot...employees-after-state-legislature-cu-n2546903
Yep.
https://townhall.com/tipsheet/timot...employees-after-state-legislature-cu-n2546903
Yep.
Debt is higher now then its ever been.
Americans now have more debt than ever before
Mortgage debt hits highest level in 9 years
Thanks to increases in mortgage debt, auto loan debt, and credit card debt, Americans now have more debt than they ever have before.
The data comes courtesy of the Federal Reserve Bank of New York’s Center for Microeconomic Data, which just released its latest Quarterly Report on Household Debt and Credit.
The latest report, which covers the second quarter of 2018, shows that total household debt in the U.S. increased by $82 billion in the second quarter, meaning Americans now collectively carry $13.29 trillion in debt.
According to the Fed report, the second quarter was the 16th consecutive quarter that saw an increase in overall household debt (as seen in the chart below). Overall debt is also now $618 billion higher than the previous peak of $12.68 trillion, which happened in the third quarter of 2008.
https://www.housingwire.com/articles/46455-americans-now-have-more-debt-than-ever-before
Here’s Everything That’s Banned on Facebook, All on One Page
https://gizmodo.com/here-s-everything-that-s-banned-on-facebook-all-on-one-1825495383
Freedumb! eh?
I understand they are banning people for saying CO2 is plant food...So, Yeah...The dumb IS free!
Just like that birdbrain that said budgets balance themselves.
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