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LINK Trump Wants to Unilaterally Give the Rich (Another) Tax Cut

More tax cuts for those who have the most, while promises to build the infrastructure and cut the deficit are forgotten. In fact, the tax cuts so far, combined with runaway spending, have raised the deficit to over $1 TRILLION (that's $1,000,000,000,000) a year, when we were finally reducing it again. And the new tax cut is supposed to be done by executive order. Remember when Republicans called Obama's executive orders "tyranny"? Suppose they were just against Obama, and not against executive orders per se?

The justification for cutting taxes on the rich, "boosting the economy", doesn't work. The main driver of the economy is middle class spending. For that, you need rising wages in step with inflation. The rich buy stocks, take dividends, and buy more stocks. They don't SPEND.

"This is, in a microcosm, three decades of Republican economic policy. Republicans have fixated on the tax burden paid by the rich as the foundation of economic growth. They insisted Bill Clinton’s tax hike on the rich would cause a recession, that George W. Bush’s tax cuts for the rich would usher in prosperity, and that Obama’s reversal of those would end the recovery. None of those predictions came true. Lawrence Kudlow, Trump’s chief economist, has made the most fantastical, and fantastically wrong, of these promises. And Kudlow is the chief proponent of Trump’s plan to enact it by fiat."

Paul4747 8 Aug 1
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3 comments

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What I have been able to gather is the Republican "help the job creators" policy never has worked, yet it sounds like a good smoke screen for the suggestible voters. I remember Republicans and their pundits labeling Obama's executive orders as unconstitutional. Of course, with a "Republican" President those complaints went out the window.

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I believe the 95% tax should be reapplied.

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Crazy world .

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