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Manufacturing jobs roaring to life.

Discussion in 'American Politics' started by hislegacy, Jan 5, 2019.

  1. hislegacy

    hislegacy This is me.

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  2. Nithavela

    Nithavela Death to all mortals (eventually)!

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    Who would have thought that a gigantic tax cut for corporations would help create jobs?

    Now for the difficult question: was it worth it?

    Lets do the math.

    According to Bloomberg, the tax cut costs the USA 112 billion dollars per year with growth already factored in. Lets be conservative and round it down to 100 billion dollars.

    Bloomberg - Are you a robot?

    According to your article, slightly over 2.5 million new jobs were created last year. Assuming that all those jobs were created by the tax cut and none of the job losses (16k in information) were because of it, which is a pretty big assumption, lets do a quick division:

    100.000.000.000 $ / 2.500.000 $ = 40.000 $

    In other words, instead of cutting the taxes for corporations, the USA could just give each of those 2.5 million workers fourty thousand dollars each year for picking up trash in the park or walking the dogs at the local animal shelter.

    But of course, THAT would be socialism.
     
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  3. hislegacy

    hislegacy This is me.

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    I feel that companies are better employers than the government is. The manufacturing jobs create more income, federal tax revenue and opportunities than dog walkers paid to follow little fuzzy butts.

    And tax revenue has increased since the cuts.
     
  4. Nithavela

    Nithavela Death to all mortals (eventually)!

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    Yes, but my idea would create more happy dogs and clean public areas.
     
  5. GlabrousDory4

    GlabrousDory4 Well-Known Member

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    Apparently NOT the CEOs who basically said from the outset that most of the money would go to stock buy-backs and not to job creation. (And we've seen that with record stock buy-backs after the tax cuts).

    I liked your calculation, indeed there is a cost to all this. It'll be interesting to see if for the first time in forever if "trickle down" actually works....the last 35 years indicate that it won't work in the long haul.

    I'm impressed that new jobs ARE being created and I hold out hope that things will be good in the long term.
     
  6. Hank77

    Hank77 Well-Known Member Supporter

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    At least some of the Individual tax receipts will be refunded.

    Here’s how the two largest categories of tax revenues fared in 2018:

    • Individual tax receipts totaled $2.593 trillion in the 2018 calendar year, one percent higher than 2017 in nominal terms but about half a percentage point lower on an inflation-adjusted basis.
    • Corporate tax receipts were lower in both nominal and inflation-adjusted terms, coming in at $233 billion in 2018, down from $316 billion in 2017. That represents a 26 percent drop in revenues on a nominal basis and a 28 percent drop in inflation-adjusted terms.

      Why 2018 Was an ‘Unusual Year’ for US Tax Revenues
     
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  7. Blood Bought 1953

    Blood Bought 1953 Ned Flander’s Buddy

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  8. LivingWordUnity

    LivingWordUnity Unchanging Deposit of Faith, Traditional Catholic

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  9. cow451

    cow451 Individual-2 Supporter

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    Agreed
     
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