Why do we need tax cuts?

[Scipio2009]

Are you grubers really this ignorant??

First off, incressed economic growth has paid for tax rate cuts twice in my lifetime alone. The Reagan Income Tax rate cuts and the Clinton Capital Gains Tax rate cuts both resulted in increased respective revenues.

As to the term "trickle down", you will not find it any Economics textbook because it doesn't exist in the field of Economics. It's a term made up by politicians to fool low-IQ voters.

And we see who was stupid enough to believe the lie and then go and repeat it.

Tax cuts only work until a certain point.

The Bush tax cuts didn't come close to paying for themselves, and that's not even something to debate.

[Scipio2009]

But lets talk in simple terms.

What's wrong with letting the people who earn the money keep more of the fruits of their labor?

Most people don't pay federal tax, so what "fruit of their labor" are we really talking about?

The messaging by Republicans has been great in throwing people, but the reality has never even come close to measuring up.

[Scipio2009]

I'm so sick of this nonsense. The extra dough will be pocketed by the fat cat CEOs. The trickle down will go to the people cleaning their new yachts.

Honestly, it won't even do that (even if the money only went to yacht cleaners, they still eat food, have vehicles, raise families, enjoy time off, and other ways to spend money).

The money will be pocketed, put into some tax deferred asset, before being passed along to their children in tax-free ways.

The CEO's kids may buy their own yachts, but the money likely won't trickle beyond that.

[1bad65]

Tax cuts only work until a certain point.

The Bush tax cuts didn't come close to paying for themselves, and that's not even something to debate.

They increased revenue, albeit less than the two I cited. There was a reason for me citing the 2 examples I did.

Can you go ahead and address the 2 instances I cited?

[1bad65]

Most people don't pay federal tax, so what "fruit of their labor" are we really talking about?

Source please

The messaging by Republicans has been great in throwing people, but the reality has never even come close to measuring up.

I cited 2 examples where it did more than "measure up".

Please keep up. I don't like having to repeat myself.

[Tony Trick-Pony]

Are you grubers really this ignorant??

First off, incressed economic growth has paid for tax rate cuts twice in my lifetime alone. The Reagan Income Tax rate cuts and the Clinton Capital Gains Tax rate cuts both resulted in increased respective revenues.

As to the term "trickle down", you will not find it any Economics textbook because it doesn't exist in the field of Economics. It's a term made up by politicians to fool low-IQ voters.

And we see who was stupid enough to believe the lie and then go and repeat it.

Excellent post...

[Scipio2009]

They increased revenue, albeit less than the two I cited. There was a reason for me citing the 2 examples I did.

Can you go ahead and address the 2 instances I cited?

You mean the tax package that almost immediately needed an amended package since it didn't work, or the package that was specifically crafted to be deficit neutral?

[Scipio2009]

Source please



I cited 2 examples where it did more than "measure up".

Please keep up. I don't like having to repeat myself.

Between the standard deduction, personal exemptions, the earned income tax credit, child tax credit, and the host of other offsets in the code, 8 out of 10 folks who file end up getting a federal tax refund.

http://money.cnn.com/2015/01/13/pf/taxes/taxpayer-refunds/index.html

[Motorcity Cobra]

Source please



I cited 2 examples where it did more than "measure up".

Please keep up. I don't like having to repeat myself.

How much did you pay in taxes this year? I'm not asking how much was withheld from your paycheck. How much was the check you wrote to the government?

[siablo14]

They increased revenue, albeit less than the two I cited. There was a reason for me citing the 2 examples I did.

Can you go ahead and address the 2 instances I cited?

And the best evidence that economists can muster shows that income taxes -- i.e., what Republicans are always trying to cut -- don’t hurt the economy very much. Microeconomic estimates of something called the Frisch elasticity of labor supply -- or the amount that taxes discourage people from working -- are very low. That means that income taxes do only a very little to discourage people from working. The one exception is tax cuts for the poor and working class, which really do seem to encourage more work effort. But for the upper-middle class and rich, who bear most of the tax burden and who are usually the prime beneficiaries of Republican tax cuts, the effect is very small.

So according to economists’ best evidence, tax cuts probably won’t help the economy that much. That’s consistent with the recent performance of Kansas, which enacted big income-tax cuts but saw its economy underperform. It’s also consistent with the conspicuous failure of the George W. Bush tax cuts to produce rapid growth in the 2000s.

https://www.bloomberg.com/view/artic...lican-tax-cuts

You need to stop living off the Reagan days. Things have been tried since then that haven't work.