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Trump tax cuts did little to boost economic growth

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The U.S. economy’s strong 2018 performance happened without much health from the massive tax cut President Donald Trump ushered through the previous year, according to a study released this week.

An in-depth look by the nonpartisan Congressional Research Service indicated that not only did the rollbacks in business and personal rates have little macro impact, but they also delivered the most benefits to corporations and the rich, with little boost to wages.https://www.cnbc.com/2019/05/29/trump-tax-cuts-did-little-to-boost-economic-growth-in-2018-study-says.html?__source=facebook%7Cmain&fbclid=IwAR3uVSLEG9JH5yh7pmoZFJi58-rJyedCDrMmf_2brRTv857I47wRekVk-0Q
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adrien.scott
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The effects of tax cuts depend entirely on which taxes are cut. But in general, tax cuts increase indebtedness (wealth disparity) and don’t really help anything at all.
3 mths
Host
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Do tax cuts help or hurt the economy? What do you think?
Edited
3 mths
howard.perkins
howard.perkins followed this discussion
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So many people I talk to said a little less taxes taken out of their pay check, but they didn't realize at that they owed more when they did their taxes. It was huge shock when it was all said and done.
3 mths
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aurelie-laurentassetou-landryelliott-nguyen
aurelie-laurent, assetou-landry, elliott-nguyen and 7 other people started following this discussion
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So many people I talk to said a little less taxes taken out of their pay check, but they didn't realize at that they owed more when they did their taxes. It was huge shock when it was all said and done.
Sadly, that is right.
3 mths
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Oh wait, that's right it was Obamas presidency that made it grow.
3 mths
Host
Admin
what Trump did actually is he rewarded himself and his friends for contributing to his campaign. there is no way tax cut will boost the economy. it's the skill development and market reforms will boost the economic growth that will result in generating more jobs. growth without jobs is as good as Trump without his Russian stories.
3 mths
Host
Admin
Oh wait, that's right it was Obamas presidency that made it grow.
Um, no! But nice try!
3 mths
Host
Admin
Still too many greedy companies. I wish part of the tax cuts to businesses was based on employees getting a piece. All many got was working harder for same pay.
3 mths
Host
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If only someone warned us.
2 mths
Host
Admin
Yes. Tax cuts help the economy and tax cuts hurt the economy. There are rarely absolutes in economics.
Taxes are not well understood by most people. They get that you have to pay them, and that if you don’t you’ll get in trouble. They understand that they reduce income or spending power. Beyond that, they have lots of misconceptions.
2 mths
Host
Admin
Yes. Tax cuts help the economy and tax cuts hurt the economy. There are rarely absolutes in economics.
Taxes are not well understood by most people. They get that you have to pay them, and that if you don’t you’ll get in trouble. They understand that they reduce income or spending power. Beyond that, they have lots of misconceptions.
Absolutely true.
2 mths
Host
Admin
Yet ignorant people refuse to acknowledge that Trump is toxic to America.
2 mths