That's how the Trump tax cuts were sold. The literal name of the law of the Trump tax cuts is called the "tax cuts and jobs act," it was not sold to the American people as the "tax cuts stock buybacks act". Somehow, once corporations and the rich get the tax cuts, it never ends up creating a jobs or the workforce investments that were promised and then the American people are told that it is not a company's job or responsibility to do so. (Edit: grammar from mobile editing)
You mean the tax cuts that reduced income taxes for every fucking tax bracket except the lowest (which is so low that the standard deduction more than eliminates any taxes owed), with the middle class seeing the largest cuts? Try actually looking at what the law did instead of just spewing bullshit.
You mean the tax cuts that reduced income taxes for every fucking tax bracket except the lowest (which is so low that the standard deduction more than eliminates any taxes owed), with the middle class seeing the largest cuts?
The 2017 Trump Tax Cuts and Jobs Act (unfunded) tax cuts I am talking about were "built on the idea that lower business and corporate tax rates, new domestic investment incentives, and guardrails against international profit shifting would increase investment, make workers more productive, and ultimately raise output and wages." As we now know, it wasn't really used for those things.(https://www.brookings.edu/articles/searching-for-supply-side-effects-of-the-tax-cuts-and-jobs-act/) But hey after the corporations got the tax cuts, the corporate bootlickers are sure to remind people that it is not a "company's job or responsibility to give employees bonuses, create jobs, increase wages, or grow the economy."
Contrary to what you said, the unfunded tax cuts did, in fact, save the poorest money. The lowest quintile saved a whopping $70 a year. But it wasn't the middle class that benefited the most; the middle quintile of earners on average saved just $910. Compare this to the 1% who saved on average $61,090, while the richest 0.1% saved on average $252,300. I don't know what math you are using to get that $910 is more than $252,300. (https://www.americanprogress.org/article/the-tax-cuts-and-jobs-act-failed-to-deliver-promised-benefits/)
The Pass-Through Business Deduction (199A) did not benefit the poor or middle class, nor did the corporate tax rate cuts.
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u/whatisthisgreenbugkc 5d ago edited 5d ago
That's how the Trump tax cuts were sold. The literal name of the law of the Trump tax cuts is called the "tax cuts and jobs act," it was not sold to the American people as the "tax cuts stock buybacks act". Somehow, once corporations and the rich get the tax cuts, it never ends up creating a jobs or the workforce investments that were promised and then the American people are told that it is not a company's job or responsibility to do so. (Edit: grammar from mobile editing)