The TRUMP Tax-Cuts

[Phoenix68]

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(...'Cause, that's kinda what Republicans do!!)
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Why America Abandoned The GREATEST ECONOMY In HISTORY
November 25, 2023
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"If there is one statistic that best captures the transformation of the American economy over the past half century, it may be this: Of Americans born in 1940, 92 percent went on to earn more than their parents; among those born in 1980, just 50 percent did. Over the course of a few decades, the chances of achieving the American dream went from a near-guarantee to a coin flip.

What happened?

One answer is that American voters abandoned the system that worked for their grandparents. From the 1940s through the ’70s, sometimes called the New Deal era, U.S. law and policy were engineered to ensure strong unions, high taxes on the rich, huge public investments, and an expanding social safety net. Inequality shrank as the economy boomed. But by the end of that period, the economy was faltering, and voters turned against the postwar consensus. Ronald Reagan took office promising to restore growth by paring back government, slashing taxes on the rich and corporations, and gutting business regulations and antitrust enforcement. The idea, famously, was that a rising tide would lift all boats. Instead, inequality soared while living standards stagnated and life expectancy fell behind that of peer countries. No other advanced economy pivoted quite as sharply to free-market economics as the United States, and none experienced as sharp a reversal in income, mobility, and public-health trends as America did. Today, a child born in Norway or the United Kingdom has a far better chance of outearning their parents than one born in the U.S."

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[Phoenix68]

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Tax Cuts: Myths And Realities
May 9, 2008
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[mark francis]

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(...'Cause, that's kinda what Republicans do!!)
.
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Why America Abandoned The GREATEST ECONOMY In HISTORY
November 25, 2023
.​

"If there is one statistic that best captures the transformation of the American economy over the past half century, it may be this: Of Americans born in 1940, 92 percent went on to earn more than their parents; among those born in 1980, just 50 percent did. Over the course of a few decades, the chances of achieving the American dream went from a near-guarantee to a coin flip.

What happened?

One answer is that American voters abandoned the system that worked for their grandparents. From the 1940s through the ’70s, sometimes called the New Deal era, U.S. law and policy were engineered to ensure strong unions, high taxes on the rich, huge public investments, and an expanding social safety net. Inequality shrank as the economy boomed. But by the end of that period, the economy was faltering, and voters turned against the postwar consensus. Ronald Reagan took office promising to restore growth by paring back government, slashing taxes on the rich and corporations, and gutting business regulations and antitrust enforcement. The idea, famously, was that a rising tide would lift all boats. Instead, inequality soared while living standards stagnated and life expectancy fell behind that of peer countries. No other advanced economy pivoted quite as sharply to free-market economics as the United States, and none experienced as sharp a reversal in income, mobility, and public-health trends as America did. Today, a child born in Norway or the United Kingdom has a far better chance of outearning their parents than one born in the U.S."

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The New Deal brought more government control and less prosperity.


How FDR's New Deal Harmed Millions of Poor People | Cato Institute 12-29-03

How FDR’s New Deal Harmed Millions of Poor People

DECEMBER 29, 2003 • COMMENTARY

By Jim Powell
Democratic presidential candidates as well as some conservative intellectuals, are suggesting that Franklin Delano Roosevelt’s New Deal is a good model for government policy today.

Mounting evidence, however, makes clear that poor people were principal victims of the New Deal. The evidence has been developed by dozens of economists — including two Nobel Prize winners — at Brown, Columbia, Princeton, Johns Hopkins, the University of California (Berkeley) and University of Chicago, among other universities.

New Deal programs were financed by tripling federal taxes from $1.6 billion in 1933 to $5.3 billion in 1940. Excise taxes, personal income taxes, inheritance taxes, corporate income taxes, holding company taxes and so‐called “excess profits” taxes all went up.

 

[Phoenix68]

The New Deal brought more government control and less prosperity.

How FDR's New Deal Harmed Millions of Poor People | Cato Institute 12-29-03

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"The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded as the Charles Koch Foundation in 1974 by Ed Crane, Murray Rothbard, and Charles Koch. In July 1976, the name was changed to the Cato Institute."

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[Boris Norris]

The New Deal brought more government control and less prosperity.


How FDR's New Deal Harmed Millions of Poor People | Cato Institute 12-29-03

How FDR’s New Deal Harmed Millions of Poor People

DECEMBER 29, 2003 • COMMENTARY

By Jim Powell
Democratic presidential candidates as well as some conservative intellectuals, are suggesting that Franklin Delano Roosevelt’s New Deal is a good model for government policy today.

Mounting evidence, however, makes clear that poor people were principal victims of the New Deal. The evidence has been developed by dozens of economists — including two Nobel Prize winners — at Brown, Columbia, Princeton, Johns Hopkins, the University of California (Berkeley) and University of Chicago, among other universities.

New Deal programs were financed by tripling federal taxes from $1.6 billion in 1933 to $5.3 billion in 1940. Excise taxes, personal income taxes, inheritance taxes, corporate income taxes, holding company taxes and so‐called “excess profits” taxes all went up.

That's how the depression spending was recovered.
Obama did the same then gifted Trump a booming economy who suggested he did it.
All he has ever done us contribute to the sewer system and according to news lately, he's stopped. He's now shitting in his diaper. .

 

[mark francis]

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View attachment 10041
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"The Cato Institute is an American libertarian think tank headquartered in Washington, D.C. It was founded as the Charles Koch Foundation in 1974 by Ed Crane, Murray Rothbard, and Charles Koch. In July 1976, the name was changed to the Cato Institute."

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Oh, I see. To put it in leftist tribal savage lingo: Um, Cato Instituiton very bad, must not listen to, must stop reportin to keep Amurica safe for Democrap party.

 

[mark francis]

That's how the depression spending was recovered.
Obama did the same then gifted Trump a booming economy who suggested he did it.
All he has ever done us contribute to the sewer system and according to news lately, he's stopped. He's now shitting in his diaper. .

 

[Boris Norris]

View attachment 10046



View attachment 10047

What you have conveniently forgotten is Obama inherited the GFC off GWB.
Remember that?
Here's some differing evidence. https://www.washingtonpost.com/business/2020/09/05/trump-obama-economy/

 

[mark francis]

What you have conveniently forgotten is Obama inherited the GFC off GWB.
Remember that?
Here's some differing evidence. https://www.washingtonpost.com/business/2020/09/05/trump-obama-economy/

Obama inherited the mess caused by the collapse of Fannie and Freddie, quasi-government GSEs that were protected from investigation or reform by Democrats, particularly Barney Frank whose male lover was employed by Fannie Mae.

 

[Phoenix68]

Obama inherited the mess caused by the collapse of Fannie and Freddie, quasi-government GSEs that were protected from investigation or reform by Democrats.....

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NO Proof / NO Facts = LIE
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[the annoying thing]

.
(...'Cause, that's kinda what Republicans do!!)
.
.
Why America Abandoned The GREATEST ECONOMY In HISTORY
November 25, 2023
.​

"If there is one statistic that best captures the transformation of the American economy over the past half century, it may be this: Of Americans born in 1940, 92 percent went on to earn more than their parents; among those born in 1980, just 50 percent did. Over the course of a few decades, the chances of achieving the American dream went from a near-guarantee to a coin flip.

What happened?

One answer is that American voters abandoned the system that worked for their grandparents. From the 1940s through the ’70s, sometimes called the New Deal era, U.S. law and policy were engineered to ensure strong unions, high taxes on the rich, huge public investments, and an expanding social safety net. Inequality shrank as the economy boomed. But by the end of that period, the economy was faltering, and voters turned against the postwar consensus. Ronald Reagan took office promising to restore growth by paring back government, slashing taxes on the rich and corporations, and gutting business regulations and antitrust enforcement. The idea, famously, was that a rising tide would lift all boats. Instead, inequality soared while living standards stagnated and life expectancy fell behind that of peer countries. No other advanced economy pivoted quite as sharply to free-market economics as the United States, and none experienced as sharp a reversal in income, mobility, and public-health trends as America did. Today, a child born in Norway or the United Kingdom has a far better chance of outearning their parents than one born in the U.S."

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you mean you dont know lol

 

[the annoying thing]

https://www.marketwatch.com/story/this-is-how-much-american-workers-saved-during-the-first-year-after-trumps-tax-reform-2020-03-03

 

[mark francis]

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View attachment 18410
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NO Proof / NO Facts = LIE
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View attachment 18411
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Obama inherited the mess that Fannie and Freddie made of the 2000 banking deregulations signed by Bill Clinton.