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Yes completely dominated by the top brackets, I don’t recall that being a selling point but now it’s an excuse.
100 million people are not all in the top brackets.
I'll make the same suggestion to you... Eliminate all public employee pensions if your belief is so strong that ordinary Americans don't benefit from share value appreciation.
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Location: Where my bills arrive
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Quote:
Originally Posted by hawkeye2009
Democrats are idiots.
They nearly destroyed our manufacturing with NAFTA and China trade policies, now they want to deal the coup de grace.
Funny 73 Senators out of 100 voted for NAFTA and the GOP is well represented in that 73 and what party did the signing President George HW Bush belong to???
And 83 Senators voted to continue China's MFN status in Sept 2000 with the GOP representing half the Senate. Seems the GOP has no issue with anything that will line their pockets, the public interest be damned.
Businesses provide jobs. Is it your assertion that we can somehow do without jobs?
Employees are also consumers. Consumer spending drives economic growth. Businesses receive 'no strings attached' tax cuts.
Quote:
Across-the-board corporate tax cuts don't do much to create jobs. That's according to a 2017 study by the Institute for Policy Studies. It compared 92 publicly-held corporations who paid less than the 35% corporate tax rate. It found that, between 2008 and 2016, these corporations lost jobs while the overall economy increased jobs by 6%. Instead of paying taxes or hiring, these companies bought back their own stocks. They also increased CEO pay at a higher rate than the average for companies listed on the S&P 500.
No, they all benefit. How? Pension funds and retirement accounts are managed, they buy and sell shares all the time. On top of that, many are invested in funds which also buy and sell shares all the time. It's not like they buy a certain portfolio of stocks and hang onto that making no changes whatsoever over the years. It's odd that you would even think so.
And for many public sector pension funds there is a guaranteed rate of return. Fall below that and the taxpayer bails out the difference.
The 2017 Tax cut bill allowed corporations to buy back stock and juice the stock market. If a corporation is buying back its own stock, raising the stock's value, that makes shareholders happy. In turn the shareholders reward the CEO with ever increasing salaries. It's a feedback loop and it does not reflect the true state of the economy. The stock market has existed in an alternate universe for a few years now.
Do you have a 401k? Mutual funds? Pension? IRA? Investments? If yes, you own those companies!
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