$1.5 trillion U.S. tax cut has no major impact

Jun 2013
17,068
14,561
Here
#41
About "Obama caused debt"????
Getting the Facts Straight
THE WAY WE LIVE NOW: 6-8-03; Deficits and Dysfunction


Stats also show HOW LONG the economy has been moving in a positive direction, including well before Trump was elected or his tax cuts finally passed.

National Employment Monthly Update

Dow Jones - 10 Year Daily Chart

United States Consumer Sentiment | 2019 | Data | Chart | Calendar | Forecast



The climbs are not as steep under Trump and there are declines since Trump, as well. Plus, what are those tax cuts leading to with regard to who benefits most?

U.S. Consumer Sentiment Ticked Down at the End of October

Consumer Confidence Down Slightly in November | ABA Banking Journal

U.S. Consumer Confidence Fades in December

For most Americans, real wages have barely budged for decades

Tax cut savings flow to company stockholders, trickle to hourly workers

Tax cut triggers $437 billion explosion of stock buybacks

Little evidence of capex surge from tax cuts: Fed | Reuters

Boom in Share Buybacks Renews Question of Who Wins From Tax Cuts

Share Buybacks Help Lift Corporate Earnings

The Economics of Stock Buybacks | Tax Foundation

Experts voice concern that corporate windfall from tax cuts benefits the wealthy

Why companies flush with tax-cut cash are spending more on share buybacks than wage hikes | CBC News


Is anyone surprised enough "working class" people took the bait about tax cuts, YET AGAIN, to be duped, again?

Even George H. W. Bush saw them for what they were, at least in part..........and before he denied saying it because he became VP under the guy who "invented" such policies.




Who doesn't want a tax cut? But when the population of America and the world keeps growing, inflation exists and people want GDP growth in excess of what is needed to keep up with inflation and population growth, the cost of maintaining government is ALSO going to go up.......In order to balance income/revenue and expenses, cutting taxes not only creates a shortfall, but an added expense, with regard to the cost to carry the loans needed to make up for the shortfall.

People do not generally ask for a cut in pay, then go out and increase their spending or buy a newer more expensive house. Why? It should NOT have to be explained.

If one is greedy and somehow thinks they need excessive amounts of money to "survive" in beyond luxurious comfort, they will seek tax cuts to add to their already gluttonous incomes....
The world’s richest became $1 trillion wealthier in 2017 and here’s why that should worry us

GREED is the disease and it is quite AMAZING "religious" people elected one of the most greedy, gluttonous, narcissistic people known to exist, to "lead" them and their nation.


The founders, many of them relatively wealthy themselves, were not ignorant of how the greedy wealthy will try to manipulate things to feed their greed.


"In order to prove this assertion, I shall premise two propositions, which have never been controverted: First, where there is wealth, there will be power; and, secondly, the rich have always been an over-match for the poor in all contests for power."

"These truths being admitted, I desire to know what can prevent our single representation being filled, in the course of a few years, with a majority of rich men? Say not, the people will not choose such men to represent them. The influence of wealth at elections is irresistible. It has been seen and felt in Pennsylvania, and I am obliged in justice to my subject to say, that there are poor men among us as prepared to be influenced, as the rich are prepared to influence them. The fault must be laid in both cases upon human nature. The consequence of a majority of rich men getting into the legislature is plain. Their wealth will administer fuel to the love of arbitrary power that is common to all men. The present Assembly have furnished them with precedents for breaking the Constitution. Farewell now to annual elections! Public emergencies will sanctify the most daring measures. The clamours of their constituents will be silenced with offices, bribes or punishments. An aristocracy will be established, and Pennsylvania will be inhabited like most of the countries in Europe, with only two sorts of animals, tyrants and slaves."
-Benjamin Rush, Observations on the Government of Pennsylvania - 1777
Selected Writings 57--64, 67--69
Bicameralism: Benjamin Rush, Observations on the Government of Pennsylvania
 
Last edited:
Likes: BigLeRoy
Jan 2016
46,361
42,296
Colorado
#42
Economic growth is slowing? 1.5% in 2016, 2.4% in 2017 and 3%+ in 2018 is a slowing trend?
Why are you IGNORING the quarterly data?!??

4.2% growth in the 2nd Quarter of 2018

3.5% growth in the 3rd Quarter of 2018

~3.0% growth (?) in the 4th Quarter of 2018; number might be less than that, given the stock market turbulence of December, which might have affected Christmas shopping, as we now know consumer confidence was falling rapidly in that month.

1st Quarter of 2019 is expected to be very low.

If you don't see a declining trend there, you're BLIND.
 
Jan 2016
46,361
42,296
Colorado
#44
The Trumpconomy has produced over 4 million new jobs, significantly higher than the last two years of the Obamaconomy.
Cherry picking data. 2014 was the BEST year for job growth in America since 1999, and 2015 was also an excellent year.

If 2016 was not such a great year, that is at least somewhat understandable, given the massive uncertainty about the direction of the economy, which was directly tied into uncertainly about who the next President was going to be.....
 
Last edited:
Jan 2016
46,361
42,296
Colorado
#46
The recession bottomed out in Dec 2008, it completely ended and the economy started growing on its own in June 2009, all Obama had to do to get credit for a roaring recovery was stay out of the way, which he refused to do. So Obama gets a 1.58% real growth rate of the economy as his legacy. He delivered $2.7 trillion of economic growth after $15 trillion of economic stimulus and leaving over $9 trillion in debt that must be repaid.
This entire post deserves some kind of MASSIVE BULLSHIT AWARD.

(1) The economy most certainly did not "bottom out" in December 2008!! You're out of your mind! Real GDP growth was SHARPLY NEGATIVE for the 1st Quarter of 2009 and was still negative for the 2nd Quarter of that year. You know how to look up the numbers. Don't embarrass yourself in this way. It's unbecoming.

(2) I have previously shown you that manufacturing was collapsing AROUND THE WORLD in the first half of 2009. Would you like to see the link again?

(3) The economy did NOT "start growing on its own" in June 2009. It received a MASSIVE DOSE of aid from both the TARP and ARRA programs, as we have discussed many, many times.

American Recovery and Reinvestment Act of 2009 - Wikipedia
 
Oct 2014
28,547
4,834
C-A-N-A-D-A-Eh
#47
I really need a link to that. And By his second term, Obama didn't need to blame anyone. He did a great job. Why are Trump supporters allergic to real numbers?
I'm being rhetorical. Obama blamed everything bad on Bush for as long as possible.

The thing is, when the economy went well was when full time jobs were being cut into multiple part time jobs so companies could avoid Obamacare. It wasn't like actual growth, where companies were expanding production of whatever. So much was sent overseas and it was treated as though a service economy was sustainable.

Then there was the manipulations; for example, McDonald's is in manufacturing dollars because they manufacture the burger.
 
Jan 2016
46,361
42,296
Colorado
#48
I'm being rhetorical. Obama blamed everything bad on Bush for as long as possible.

The thing is, when the economy went well was when full time jobs were being cut into multiple part time jobs so companies could avoid Obamacare. It wasn't like actual growth, where companies were expanding production of whatever. So much was sent overseas and it was treated as though a service economy was sustainable.

Then there was the manipulations; for example, McDonald's is in manufacturing dollars because they manufacture the burger.
It was the GWB Administration that first wanted to start counting Big Macs as being a 'manufactured' product, not the Obama Administration......And they were much mocked for it.
 
Likes: bmanmcfly
Apr 2015
12,923
2,205
Katmandu
#49
Why are you IGNORING the quarterly data?!??

4.2% growth in the 2nd Quarter of 2018

3.5% growth in the 3rd Quarter of 2018

~3.0% growth (?) in the 4th Quarter of 2018; number might be less than that, given the stock market turbulence of December, which might have affected Christmas shopping, as we now know consumer confidence was falling rapidly in that month.

1st Quarter of 2019 is expected to be very low.

If you don't see a declining trend there, you're BLIND.
The annual number is the important metric due to seasonality, as you have stated.
 
Apr 2015
12,923
2,205
Katmandu
#50
This entire post deserves some kind of MASSIVE BULLSHIT AWARD.

(1) The economy most certainly did not "bottom out" in December 2008!! You're out of your mind! Real GDP growth was SHARPLY NEGATIVE for the 1st Quarter of 2009 and was still negative for the 2nd Quarter of that year. You know how to look up the numbers. Don't embarrass yourself in this way. It's unbecoming.

(2) I have previously shown you that manufacturing was collapsing AROUND THE WORLD in the first half of 2009. Would you like to see the link again?

(3) The economy did NOT "start growing on its own" in June 2009. It received a MASSIVE DOSE of aid from both the TARP and ARRA programs, as we have discussed many, many times.

American Recovery and Reinvestment Act of 2009 - Wikipedia
The TARP spending was under GWB in 2008. We found out that there was no such thing as shovel ready jobs and projects had not been identified or approved by June, let alone any jobs.

The rate of economic decline maxed out in Q4 2008 and the rates started softening from there, the economy was growing in June.

Real Gross Domestic Product