Major companies including Cisco Systems Inc., Pfizer Inc. and Coca-Cola Co. say they’ll turn over most gains from proposed corporate tax cuts to their shareholders, undercutting President Donald Trump’s promise that his plan will create jobs and boost wages for the middle class.
The president has held fast to his pledge even as top executives’ comments have run counter to it for months. Instead of hiring more workers or raising their pay, many companies say they’ll first increase dividends or buy back their own shares.
America does not need tax cuts, it need revenue increase. Tax cuts do not increase revenue unless there are also decreased deductions. It worked when Kennedy did it, it failed when Reagan did it. Reagan only stabilized the economy by increasing Government spending. Because the tax increases he did after the tax cuts were not enough, deficit spending climbed and the debt ballooned. (REAGAN=REAGAN&CONGRESS)
They have been lifting fingers to help the poor and middle class, the GOP only wants to help the rich. I say we all give them a middle finger next year.
Say What Now‽ Premium Member over 6 years ago
It seems to me to be the appropriate finger to give to that reform. Mister Gorrell did not finish that sentence; …tax cuts for the rich.
Silly Season over 6 years ago
https://www.bloomberg.com/news/articles/2017-11-29/trump-s-tax-promises-undercut-by-ceo-plans-to-reward-investors
Major companies including Cisco Systems Inc., Pfizer Inc. and Coca-Cola Co. say they’ll turn over most gains from proposed corporate tax cuts to their shareholders, undercutting President Donald Trump’s promise that his plan will create jobs and boost wages for the middle class.
The president has held fast to his pledge even as top executives’ comments have run counter to it for months. Instead of hiring more workers or raising their pay, many companies say they’ll first increase dividends or buy back their own shares.
WestNYC Premium Member over 6 years ago
To be fair, the Democrats do not believe in tax cuts but rather the opposite.
Radish the wordsmith over 6 years ago
Republicon ‘tax plan’ on track to fail.
superposition over 6 years ago
When you look at effective tax rates a different dataset is observed …
http://www.slate.com/content/dam/slate/blogs/moneybox/2017/08/07/the_history_of_tax_rates_for_the_rich/graph.png.CROP.promovar-mediumlarge.png
http://www.slate.com/blogs/moneybox/2017/08/07/the_history_of_tax_rates_for_the_rich.html
braindead Premium Member over 6 years ago
Lifting a finger?
Would that be anything like holding actual hearings?
Or having real debate?
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And to idahoser above, why is it that Trump Disciples have to lie about every issue?
Frankfreak over 6 years ago
America does not need tax cuts, it need revenue increase. Tax cuts do not increase revenue unless there are also decreased deductions. It worked when Kennedy did it, it failed when Reagan did it. Reagan only stabilized the economy by increasing Government spending. Because the tax increases he did after the tax cuts were not enough, deficit spending climbed and the debt ballooned. (REAGAN=REAGAN&CONGRESS)
Radish the wordsmith over 6 years ago
The Republican tax plan is to appease their wealthy donors.
The Republicans do no work for the majority of Americans.
NeoconMan over 6 years ago
What is wrong with those Democrats that they won’t help us screw over the people?
Striped Cat over 6 years ago
Stop calling it “tax cuts”. Stop calling it “tax reform” It’s voodoo economics theft and deserves the finger.
DrDon1 over 6 years ago
Gorrell is very content with the GOP Agenda: Government of, by, and for the Rich!
Mr. Blawt over 6 years ago
They have been lifting fingers to help the poor and middle class, the GOP only wants to help the rich. I say we all give them a middle finger next year.