Reply to Master thread: companies giving bonuses/raising minimum wage/investing in workers

Forum Index » Political Discussion

Reply to "Master thread: companies giving bonuses/raising minimum wage/investing in workers"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Once again, bonuses are a one time thing.  Wage increase of $1 to $3/hr while the uber rich get a 6% tax cuts.  And those tax cuts for the  middle class are TEMPORARY, while the tax cuts for the corporations don't expire.

Out of the many many corporations that we have, what percentage of them are increasing wages, benefits and creating jobs?  That's the real number you need to look at, not listing one company at a time.

http://www.foxbusiness.com/markets/2017/10/27/ceos-suggest-trump-tax-cut-may-lift-investors-more-than-jobs.html
[quote]
The White House Council of Economic Advisers bolstered that with an analysis that concluded lower corporate taxes would motivate companies to invest in new machines and hire more skilled workers. 
....
Even small companies, which pay the highest effective tax rate and would be the main beneficiaries of a Trump tax windfall, do not appear focused on hiring.

Reuters contacted the 100 largest companies by market value in the benchmark Russell 2000 Index of U.S. small and mid-cap stocks, as well as another 50 in that index that are not covered by securities analysts. None of the 17 companies that responded to Reuters mentioned boosting their headcount.

....
The situation could be a replay of the massive 2004 repatriation "holiday" under President George W. Bush, in which 843 U.S.-based multinationals brought back $362 billion in overseas profits at a deeply slashed tax rate of 5.25 percent.

[b]Most of that money went to stock buybacks and dividend increases. The tax break was called a costly failure in a 2011 report by the Senate Permanent Subcommittee on Investigations, which found it cost the U.S. Treasury $3.3 billion in lost revenue and "produced no appreciable increase in U.S. jobs or domestic investment."
[/b][/quote]

With or without those tax cuts, jobs will get created.   Look at the Clinton years.  There were tax increases, but the economy and job growth were strong. It's not the tax cuts that spur job growth.  The only tax cut that has any real measure for growth is the cut of capital gains tax, which makes total sense.  But the whopping 6% income tax cut on the uber rich doesn't really help with economic growth. It really doesn't, and if you say "well those uber rich will re-invest that money into businesses", that's really not how it works as we saw with the Bush tax cuts and more recently, the tax cuts in Kansas.

Why do the Rs keep repeating the same damn mistake over and over.   This is faith based economics and nothing more.  Even the Rs are saying they have "faith" that these tax cuts will work because they have no recent historical evidence to back it up.

And I'll add, I used to be a R.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics