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Old 05-17-2018, 05:45 AM  
AMDChief AMDChief is offline
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Trump’s Tax Cuts Didn’t Benefit U.S. Workers, Made Rich Companies Richer, Analysis

Trump’s Tax Cuts Didn’t Benefit U.S. Workers, Made Rich Companies Richer, Analysis Finds



Trump’s corporate tax cuts might not have trickled down to American workers in the way that he suggested they would.

Trump and Republican leadership have long touted their tax cuts as a massive boon to America’s working class, if not through direct tax reductions or refunds, then through the trickle-down effect of bonuses and wage increases from their employers who receive massive corporate cuts. “Tax reform is working,” Republican House Speaker Paul Ryan said in January, mentioning Apple’s decision to reward a bonus of $2,500 in stock grants to some Apple employees. “Workers are coming home and telling their families they got a bonus, or they got a raise or they got better benefits.”

But a new analysis of all Fortune 500 companies found only 4.3 percent of workers will receive a one-time bonus or wage increase tied to the business tax cuts, while businesses received nine times more in cuts than what they passed on to their workers, according to Americans for Tax Fairness, a political advocacy group devoted to tax reform. The analysis also found that companies spent 37 times as much on stock buybacks than they did on bonuses and increased wages for workers.

The study looked at corporate data, news reports and independent analyses of the top companies in the United States, which represent more than two-thirds of the gross domestic product, and analyzed changes in wages and share buybacks since the announcement of the Republican tax plan in December.

“There are too many disingenuous claims that the Trump and Republican tax cuts for corporations will trickle down to the middle class,” said Frank Clemente, executive director of Americans for Tax Fairness. “President Trump and Republicans gave huge tax cuts to big drug companies, big oil and other corporations, but corporations are giving back little—if anything—to working families,” said Clemente. “In fact, this [analysis shows] that 433 corporations out of the Fortune 500 have announced no plans to share their tax cuts with employees.”

The newest projections by the nonpartisan Congressional Budget Office found that the Republican tax plan led to, in part, a 2018 deficit $242 billion higher than previously estimated.

Roughly 36 percent of Americans approve of the Republican tax cuts, according to a March Quinnipiac University Poll and a CNBC poll found that 52 percent of working adults said they had not seen a change to their paychecks since the cuts were passed.

In January, Treasury Secretary Steven Mnuchin said 90 percent of all working adults would see increases in their paychecks because of the cuts.
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Old 05-17-2018, 06:18 AM   #2
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Dems trying to convince people the lower taxes they pay and bigger paychecks they cash are not real.

This is a winner strategy every time.
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Old 05-17-2018, 06:35 AM   #3
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Quote:
Originally Posted by HonestChieffan View Post
Dems trying to convince people the lower taxes they pay and bigger paychecks they cash are not real.

This is a winner strategy every time.


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Old 05-17-2018, 07:28 AM   #4
lawrenceRaider lawrenceRaider is offline
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Quote:
Originally Posted by HonestChieffan View Post
Dems trying to convince people the lower taxes they pay and bigger paychecks they cash are not real.

This is a winner strategy every time.
It is because people believe the lies.
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Old 05-17-2018, 07:33 AM   #5
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These threads are awesome!
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Old 05-17-2018, 07:43 AM   #6
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My paycheck increased due to the tax cuts.

Wasn't a lot, but it's money I didn't pocket before Trump's tax cuts.

Keep ****in' that chicken liberals. You can spew BS rhetoric as much as you want, but at the end of the day, people's take home $$ is more than what it was during Obama and that's what matters to most people.

But hey...keep voting for imbeciles in the DC swamp that openly cheer for raising your taxes...see how that works out.
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Old 05-17-2018, 07:57 AM   #7
Lex Luthor Lex Luthor is offline
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Quote:
Originally Posted by CoMoChief View Post
My paycheck increased due to the tax cuts.

Wasn't a lot, but it's money I didn't pocket before Trump's tax cuts.
You won't have enough information to know the real impact on your tax bill for 2018 until you actually prepare your 2018 return. The tax bill either reduces or completely eliminates several deductions that significantly reduce the tax burden for a large number of taxpayers.

I used to save a lot of money on taxes because I was able to deduct income taxes paid to other states, and I was able to deduct the interest I pay on my home mortgage.

Just looking at your paycheck today is an incomplete analysis. Your overall tax burden could easily go up.
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Old 05-17-2018, 07:59 AM   #8
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So benefiting someone more equals did not benefit now. Got it.
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Old 05-17-2018, 08:00 AM   #9
BucEyedPea BucEyedPea is offline
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I haven't noticed. Then again I'm self-employed. I have to take my own out.
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Old 05-17-2018, 08:05 AM   #10
petegz28 petegz28 is offline
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Quote:
Originally Posted by Lex Luthor View Post
You won't have enough information to know the real impact on your tax bill for 2018 until you actually prepare your 2018 return. The tax bill either reduces or completely eliminates several deductions that significantly reduce the tax burden for a large number of taxpayers.

I used to save a lot of money on taxes because I was able to deduct income taxes paid to other states, and I was able to deduct the interest I pay on my home mortgage.

Just looking at your paycheck today is an incomplete analysis. Your overall tax burden could easily go up.
This is an absolutely horrific attempt at a spin job and bordering the telling of flat out lies.

A) Most deductions are still there for most people if they want to take them
B) The Standard Deduction was doubled thus eliminating A for most people
C) Some states choose to insist that the Fed Gov provide Welfare to them in the form of a deduction paid to state taxes. That's the fault of the state, not the Fed Gov

You can still deduct your mortgage interest if you want but you will now most likely benefit from taking the standard deduction instead of itemizing.

You really should not talk about this shit because you're either ignorant or a liar.
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So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.
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Old 05-17-2018, 08:08 AM   #11
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AMDChiefs/RodeoPants2/cosmos is having himself a busy morning with his multi-mult muli-thread palapalooza!
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Old 05-17-2018, 08:09 AM   #12
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Reagan's approval numbers were below 35% after 2 years in office. Mondale and the Dems decided class warfare and unfair taxation was the strategy they decided to take in the '84 election. How did that go?
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Old 05-17-2018, 08:12 AM   #13
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AMDChiefs/RodeoPants2/cosmos is having himself a busy morning with his multi-mult muli-thread palapalooza!
Their dreams of a Trump indictment just went out the window. So the desperation is thick, thick, thick today.
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All kinds of people vote. Not enough of those people think highly enough of Trump to make him President but all kinds of people vote.
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So, if they were polling better than Trump and the primary goal was to prevent Hillary from becoming POTUS, perhaps it would have been a better strategic decision to nominate someone who actually had a chance of beating her and preventing that than nominating Donald Trump.
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Old 05-17-2018, 08:13 AM   #14
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Their dreams of a Trump indictment just went out the window. So the desperation is thick, thick, thick today.
Sure seems like it. Who couldn't predict that just another allegation would fill their void.
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Old 05-17-2018, 08:15 AM   #15
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These threads are awesome!
They are. That stench, though - a combination of failure and desperation and unwashed ass.

Best to hold your nose.
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