Republican Senator admits Trump tax cut isn't helping the middle class

Will the tax cuts be a boon to the macroeconomy, that’s the issue.

In the past trickle down hasn’t done that.

History records that the American economy grew at an enormous rate when we had taxes on the rich higher. That’s documented by historical facts.

The economy WILL NEVER be on a boom again with taxes so low on the rich. That's the plot, the plan to keep things the way they are.

originally posted by: dbarnhart
a reply to: Willtell

Frankly, I don't CARE what the 'rich' get. I'm focused on what ***I*** get. Stop with the politics of envy.

Ahhhhh, it never ever fails!

Point out that policy (from either party) favors the rich over the middle class and/or poor and be accused of being envious, jealous, dirty, ill-educated, or some combo of all the above.

It cannot possibly be that the "tax cut" (for some, not all) was outrageously geared toward the top .1% - it MUST be politics of "envy" when someone points it out. What is it when a poor person complains that the minimum wage hasn't been raised in over a decade? The politics of "whining"?

originally posted by: Phage
a reply to: dbarnhart

As an S Corp, you shouldn't be putting employees in quotation marks. But you get to write off 20% of your company's net. That's a good chunk.

But that wasn't Rubio's point. The claim was that the tax cut was going to result in growth which would make the deficit decrease. It doesn't seem to be doing that. But for some reason Republicans don't care about the deficit any more because they get a bit more in their paychecks.

Doesn't happen overnight...

originally posted by: Willtell
Will the tax cuts be a boon to the macroeconomy, that’s the issue.

In the past trickle down hasn’t done that.

History records that the American economy grew at an enormous rate when we had taxes on the rich higher. That’s documented by historical facts.

The economy WILL NEVER be on a boom again with taxes so low on the rich. That's the plot, the plan to keep things the way they are.

The American economy grew at an enormous rate when the economic expansion was shared among all levels of income. If the economy grew 3%, the wealthy grew their wealth at 3%, the poor's wages went up 3%, it all was linked. Since "trickle down" the link has been broken. Don't know if this link will work but the graph tells the story. All classes moving up with economic expansion at relatively similar rates, then 1980 happened, voo-doo econ was "in" and the top took off, leaving the bottom 2 to flat line. www.google.com... &oq=American+economic+expansion+since+1945+all+classes&gs_l=img.3...1888.19682.0.20086.51.18.0.27.27.0.922.2682.6-3.3.0....0...1ac.1.64.img..22.7.1812 .0..0j0i24k1.0.AWU3_o_J7b0#imgrc=SrPfTYu3G5QE3M:

I noticed you omitted Rubys name from the title, is it because we would have, are, laughing are arses off?

Lol, partisan tool, you're so bad at this.

a reply to: Arnie123

To be fair the republicans and trumpsters on this site never fail to lump all libs together when one of them does something silly.

And rubio is a republican whether they want to claim him or not.

Is it right to say that rubio speaks for all republicans? No it is not.

Just hope people remember that next time they try and do it with some liberal.

So Rubio is now a beacon for some on the left... Hahaha

And people wonder why some call them unhinged left.

a reply to: CB328

RINO

originally posted by: dbarnhart
a reply to: CB328

B.S.

I am middle class. I have my own Subchapter S business. I just spent several hours with my CPA in tax planning. The Trump Tax Cut is saving me a ton on my taxes.

And how much of that is trickling down to your employees? For the theory that passed the tax cuts in the first place to hold, all of your savings should be going to them, not to yourself.

originally posted by: Bluntone22
Why?
They all got cost of living raises every year.
I doubt he did.

Did they? Most companies do not give cost of living raises, it has been common practice to not do so since the 2007 recession.

originally posted by: DBCowboy
Rich people pay me my salary.


Rich people pay most everyone's salary.

I could give a tinkers damn about rich people personally, I just want more money for what I do!

So those rich people should pay you more then, right?

It shouldn't be governments job to try and tax you less because the wealthy aren't giving you more.

originally posted by: scraedtosleep
a reply to: Phage

Sooo us working poor didn't get anything in the new tax cuts?

Very little. This is common in tax cuts. When you pay virtually nothing to begin with, there's nothing there to cut. That's why they tend to mostly go to the wealthy, because that's who is paying the tax burden.

There's things that can be done that do help out the poor more like tax credits and rebates, but when the bottom 50% only pays 1.5% of the total tax burden in the country, there's just not much there to give back in cuts.

a reply to: scraedtosleep

No offense but you sound a little entitled. So you make 20 k a year. Is that your choice?

My first job was at 14 for 2.14 plus tips. 30 years later without graduating from college I make over 100k, bill my clients 200 an hour and busted my ass to get here. With my extra money I can take my family on a cruise.

I call that winning. McCain and the other old farts as well as the loony left do not want me to have that money even though while reducing taxes we are bringing in record numbers.

originally posted by: matafuchs
a reply to: scraedtosleep

No offense but you sound a little entitled. So you make 20 k a year. Is that your choice?

My first job was at 14 for 2.14 plus tips. 30 years later without graduating from college I make over 100k, bill my clients 200 an hour and busted my ass to get here. With my extra money I can take my family on a cruise.

I call that winning. McCain and the other old farts as well as the loony left do not want me to have that money even though while reducing taxes we are bringing in record numbers.

Billing your clients? I assume that means you're acting as a contractor, that's not really 100k as you have all the additional employer expenses on top of that which you get to ignore with a 100k salary. Also, you're not middle class in the US anymore until $300k (I'll be making a thread on this later tonight), on the coasts at least.

originally posted by: CB328
Anyone who is honest and knows anything about the state of business in our country knows that Trump's tax cut was a giant scam. Now even a Republican is admitting that it isn't helping the middle class. I know I haven't seen a penny from it, and I am a contractor at a fortune 100 company.

www.dailykos.com...

We'll talk next tax season. This year I owed nearly $1500. Unless something changes, according to this new tax plan I would have received around $90.

Yoi do the math.

a reply to: CB328

According to whom,everyone I know is getting more,I can't believe liberals are that damn ignorant to say such a thing,but then again I read crap liberals say and do,if your a liberal your a damn fool,and truth not in you

originally posted by: Aazadan

originally posted by: scraedtosleep
a reply to: Phage

Sooo us working poor didn't get anything in the new tax cuts?

Very little. This is common in tax cuts. When you pay virtually nothing to begin with, there's nothing there to cut. That's why they tend to mostly go to the wealthy, because that's who is paying the tax burden.

There's things that can be done that do help out the poor more like tax credits and rebates, but when the bottom 50% only pays 1.5% of the total tax burden in the country, there's just not much there to give back in cuts.

The standard deduction for married was doubled, the child tax credit or whatever was raised.

Probably more goodies if you own your own home, rather than pay rent.

If you own a giant multinational, you saved 15% and more not paying all the janitors 100K a yr.

a reply to: burgerbuddy

Several other deductions were also removed. At $50k or less you essentially break even. You might see more money in your checks upfront due to changes in the withholding tables, but that doesn't mean you're getting more money, it just means less is being withheld.

At about $100k I wound up with an additional $16 per week. It's really not until about $350,000 that the savings start getting substantial, and at those levels they're still just pocket change, and until you get into the millions it's not usable amounts of money.

And, this makes logical sense... the group that pays 90% of the tax burden is going to reap 90% of the rewards (actually, it's closer to 98% in this instance). However, that doesn't mean it's a sound tax plan, because it still relies on that wealth to trickle down and Rubio is the latest in a long string of politicians to point out that so far it hasn't.

a reply to: Aazadan

I am a consultant who works for a large technology company. I was showing what I make and what companies are willing to pay. How both ends of the tax break work. Last 15 years I have seen companies that had been around for decades, small to medium simply disappear in regulations and cost. I have seen a turnaround since mid 2016.

Middle class is double the national median wage which is about 55-60k. This is where MOST of America is. Like you said, the coasts or major cities...that is NOT where you want to be if you are a family but single you can eek it out paying rent and eating Ramen.

300k in NY is much different than rural Alabama but as citizens we have a choice where and who to try to work for. That is what is great about this country. If you do not like it try a different path. Right?

a reply to: matafuchs

www.abovetopsecret.com...

I posted the thread and address that.

The thing is, pay in Alabama is also much less. They have greatly reduced purchasing power.

But yes, tech companies do pay $100k or more.

If most of America is 60k, then most households are at $120k, which is still below the conversion of $300k on the coasts costing more like $150k on the inside (and the issue that 60% of the populaion is on the coasts).