[PLEASE HELP] Why do we need tax cuts?

[Motorcity Cobra]

Trump inherited an unemployment rate of 4.7% from President Obama. Without one single major piece of legislation from Republicans and Trump, the unemployment rate has been stable. Dropping as low as 4.3% in August.

GDP for the second quarter was up 3.1%, that's higher than the projected 3%

The stock market is doing well.

Trump inherited a well oiled economy. The last time a President (W. Bush) inherited an economy doing this good he also cut taxes and we know how that turned out. He came into office with a 4.2% unemployment rate and left office with a 7.8% unemployment rate.

[Motorcity Cobra]

Imagine going to the bank for a loan and telling them this is how you'll pay for you loan

Gary Cohn on @CNBC: tax cuts will pay for themselves thru growth.

— Steve Liesman (@steveliesman) September 28, 2017

[phallus]

we don't need tax cuts, the super wealthy and corporations do. this kind of stuff is taught in business schools like Wharton, make the little guy (consumer) pay all the costs and increase profit. trickle down theory which has been in practice since Reagan ( and doesn't work) is based on the same idea. it only works if we don't realize we're the ones being screwed

[Motorcity Cobra]

Pres. Trump's top economic adviser, Gary Cohn, says he can't guarantee taxes won't go up for middle-class families. https://t.co/3EtXLmKfEX pic.twitter.com/W34LazpDsE

— ABC News (@ABC) September 29, 2017

[1bad65]

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.

[1bad65]

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?

[.!WAR MIKEY!.]

lol look at you guys trying to pretend to know what yall talking about lmfao.

yall broke nukkas are funny

[BrometheusBob.]

We only need tax cuts for the wealthy. They will obviously allow it to work it's way down to the poorer folks, because that is in their best interest.

I also vote to eliminate things like the minimum wage because it should be easier for big businesses to do what they want with us. The only way for us to be competitive on a global scale is to make sure our employees enjoy their lives just as little as the employees of other countries do.

[BrometheusBob.]

Imagine going to the bank for a loan and telling them this is how you'll pay for you loan

Gary Cohn on @CNBC: tax cuts will pay for themselves thru growth.

— Steve Liesman (@steveliesman) September 28, 2017

Well the theory boils down to this - if we lower taxes, we enable growth that increases the amount of taxable income. If there is more taxable income being earned (by some combination of more people working / higher wages), you can tax it at a lower rate and still earn as much revenue as before.

Well, in theory anyway. Whether we will see the growth is a big ?

[RespekonMyName]

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.