Another Fact-Checking on the Presidential Debate

[Lukaris]

Tax cuts and corporate greed only with several other issues usually lead to recession.

My wage tax was cut when I was making $11-$12/hr in 2017-19. I no longer had to pay the $700 shakedown fee in 2017 because I lost medical coverage from a previous layoff. The online medical enrollment before Trump was too expensive and seemed open to identify theft and fraud. Guess I am a wall st corporate greed baron by this standard ( more slogan than standard). It felt better earning $12/hr with benefits in 2019 than anything now.

 

[Yarddog]

My wage tax was cut when I was making $11-$12/hr in 2017-19. I no longer had to pay the $700 shakedown fee in 2017 because I lost medical coverage from a previous layoff. The online medical enrollment before Trump was too expensive and seemed open to identify theft and fraud. Guess I am a wall st corporate greed baron by this standard ( more slogan than standard). It felt better earning $12/hr with benefits in 2019 than anything now.

Trump did nothing to effect medical costs for insurance but there is nothing by what you say that makes you a greed baron. They are the ones that didn't pass the profits from the Trump tax cuts onto their employees, as Trump claimed they would. The Cop's told him that they wouldn't but would use the extra profits to buy back stock.

 

[Merrill]

Tax cuts and corporate greed only with several other issues usually lead to recession.

All corporations are "greedy"

businesses are not charities

tax cuts do not lead to recessions --that is not how it works

 

[Yarddog]

All corporations are "greedy"

businesses are not charities

tax cuts do not lead to recessions --that is not how it works

That is incorrect but there has to be other issues combined with tax cuts which to recessions. Reagan and both Bushes cut tax and each led to recessions.

 

[Lukaris]

That is incorrect but there has to be other issues combined with tax cuts which to recessions. Reagan and both Bushes cut tax and each led to recessions

Obama kept many of the Republican tax cuts in place in his administration which ( in political fairness) he could take credit for some economic success in his administration. When Clinton was in office much of his economic success (including surpluses ) were aided by GOP tax cuts already in place.

It was actually the bipartisan tax reform act of 1986 that lowered top income tax rates, but also closed loopholes, & took millions of lower income earners off the rolls. Critics charged that trillions have been allegedly lost by measures like this but how could that be when we actually had budget surpluses for a couple years in the 1990s?

Tax Reform Act of 1986 - Wikipedia

en.m.wikipedia.org

 

[Merrill]

That is incorrect but there has to be other issues combined with tax cuts which to recessions. Reagan and both Bushes cut tax and each led to recessions.

There were recessions during Carter's administration, Obama (carried over from the previous), and Biden

The Tech-wreck and recession of the early 2000s started during Clinton's last year in office

None of these recessions, or the others, had anything to do with tax cuts. They involved over-speculation, poor capital management, high interest rates, energy shocks, bad fiscal policy, terrorism, war, etc. --recessions are caused by a number of factors, and the maturity of the business cycle

The recession in the early 1980s was a result of the Federal Reserve hiking rates to record levels to combat inflation. It didn't have anything to do with Reagan's 1981 tax cut package.

Tax INCREASES can lead to recessions in some cases, as in 1936, when FDR and congress hiked rates while the economy was slowly coming out of the depression. Unemployment then shot back to 19% and businesses stopped hiring, and consumer spending cratered.