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LINK A year after the Republican tax cuts, reality looks nothing like Republicans said it would

Republicans (and conservatives by the modern American definition) are shortsighted, selfish, and generally evil.

RichCC 8 Nov 17
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9 comments

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1

But it’ll be the gift that keeps on giving … as Democrats regain some sway ..then quickly dogged by Republicans screaming (yet again) about ‘Cutting the Deficit!’ Wait till the next Republican Greedfest … there goes SS ..and any semblance of affordable and sustainable health care.

Varn Level 8 Nov 18, 2018
2

I'm self employed. I've never benefitted by any tax cuts, ever

Oh? You did not report you income to the IRS as required by law for those who are self employed? That is very interesting...can I have your real name and address (I am an IRS agent)?

2

I'm still waiting for the wall that Mexico is paying for......

4

I have been an accountant and worked in finance for a long time, both in public practice as a financial statement auditor and consultant, and as an accounting or finance manager in business and industry. Not only have I studied economics, finance, and accounting for a total of 8 years at two of the better universities, but I have seen the inner financial workings of dozens of companies and have witnessed firsthand the economic impacts of fiscal and monetary policies on many different companies over the years.

My most consistent observation over the decades has been that wealth concentrates and is almost never shared by owners or executive management to any significant degree. Even the overall economic data bears this out when one looks at the ever-widening income and wealth gaps. And it is a function of the fact that the wealthy write and sponsor nearly all of our laws and policies governing employment, commerce and the economy. It's called vested interests and good old-fashioned greed. After what I have personally witnessed during all the time I have worked in finance and accounting roles, I can come to no other conclusion than one that supports the idea of government by the wealthy, for the wealthy in nearly all circumstances related to the economy and money.

I don't have your specific background but I agree.
The term 'Extraction Economy' should appear in every vocabulary class from grade school on.

@RichCC Which is precisely why it won't.

2

It's going just fine according to their own interests. I'm talking about politicians and rich Republicans and conservatives. Even conservative Democrats. Poor and middle class conservative Republicans and Democrats really shouldn't support their parties economics because it doesn't really involve them. Those politicians most likely despise them.

4

The Fat Cats in the stock market think they have died and gone to heaven. To hell with everybody else. I guess that includes their children because our descendants will be the ones paying for their big party.

4

No surprise. We were warned this would happen. How many times are the American people going to get fooled by the old "trickle down economics" ruse. Come on, pull my finger, just one more time. You get your fair share only when they are forced to give it. Get health care off the backs of employers. This is one of the worst plans in the history of plans. Strengthen unions again. Without health care on their backs and retirement plans 401 based, businesses would primarily be negotiating salaries and work place environment.

5

Unfortunately the Republican (I'll go along that there no longer any conservatives left after they've sold their soul to Trump) plan depended upon the better nature of business leaders to pump savings from the tax cuts back into employee salaries and hiring.

Well news flash, a decade of experience prior to the tax cuts passing should have shown that the so-called business leaders did not have a better nature. The re-worked paradigm of predatory capitalism (refer back to Social Darwinism of the early Twentieth Century) should have clearly demonstrated that all revenues from the tax cuts would go to stock holder payouts and CEO bonuses, and not back to the employees. There is no heart in Trump's capitalistic model.

The sad thing, this is not the only model of capitalism that exists and there are more equitable and socially responsible models available.

Most companies have used the tax cuts to fund repurchase of stock and to increase executive compensation and returns to investors (returns that are only significant to the largest of investors).

5

what a shock!

by the way, there are no more conservatives, so i am glad you said "by the modern american definition." i won't call them that. i never liked conservatives but there are none left anyway. they have been replaced by regressives, and that's giving them the benefit of the doubt (which they don't deserve).

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