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Discussion and Debate
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American Politics
NYT Gets Trump Tax Info 1985-1994
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<blockquote data-quote="iluvatar5150" data-source="post: 73931257" data-attributes="member: 313046"><p>I'm curious - did he happen to say which tax reforms and/or cuts in regulation were responsible for his expansion?</p><p></p><p>To put a finer point on it - I don't trust people when they make these claims. I believe you that he told your wife that. But I don't trust people (including business owners) to correctly identify causality when observing an improvement in their financial situation. I especially don't trust people to make those judgments when doing so also aligns with their political agenda. I've had too many discussions with too many people (again, including small business owners) who are shamefully ignorant about even the most basic principles to just blindly trust an assessment like that without some greater detail. </p><p></p><p>So, I'm glad your wife found a job - I really am. But the entire labor market has been improving for ~9-10 years now and the lower end of the market would've tightened up with or without Trump's moves. Yes, his tax cuts accelerated the economy somewhat, but at the expense of huge deficits. On the macro level, the tax cuts don't appear to have done much to improve hiring.</p><p></p><p><a href="https://www.forbes.com/sites/chuckjones/2018/12/08/trumps-tax-cuts-havent-spiked-job-growth/#52a792da2df9" target="_blank">Trump's Tax Cuts Haven't Spiked Job Growth</a></p><p></p><p><a href="https://www.pbs.org/newshour/economy/making-sense/did-trumps-tax-cuts-boost-hiring-most-companies-say-no" target="_blank">Did Trump's tax cuts boost hiring? Most companies say no</a></p><p></p><p><a href="http://fortune.com/2019/01/28/trump-tax-reform-hiring-investment/" target="_blank">Why Trump's $1.5 Trillion Tax Cut Hasn’t Sparked Hiring or Investment</a></p><p></p><p></p><p>But regarding the regulations that have allegedly been done away with by Trump, I've yet to see anything substantive that's been in place long enough to have had any real impact (with perhaps a few narrow, industry-specific exceptions, e.g. removing onerous oversight requirements on community banks).</p></blockquote><p></p>
[QUOTE="iluvatar5150, post: 73931257, member: 313046"] I'm curious - did he happen to say which tax reforms and/or cuts in regulation were responsible for his expansion? To put a finer point on it - I don't trust people when they make these claims. I believe you that he told your wife that. But I don't trust people (including business owners) to correctly identify causality when observing an improvement in their financial situation. I especially don't trust people to make those judgments when doing so also aligns with their political agenda. I've had too many discussions with too many people (again, including small business owners) who are shamefully ignorant about even the most basic principles to just blindly trust an assessment like that without some greater detail. So, I'm glad your wife found a job - I really am. But the entire labor market has been improving for ~9-10 years now and the lower end of the market would've tightened up with or without Trump's moves. Yes, his tax cuts accelerated the economy somewhat, but at the expense of huge deficits. On the macro level, the tax cuts don't appear to have done much to improve hiring. [URL="https://www.forbes.com/sites/chuckjones/2018/12/08/trumps-tax-cuts-havent-spiked-job-growth/#52a792da2df9"]Trump's Tax Cuts Haven't Spiked Job Growth[/URL] [URL="https://www.pbs.org/newshour/economy/making-sense/did-trumps-tax-cuts-boost-hiring-most-companies-say-no"]Did Trump's tax cuts boost hiring? Most companies say no[/URL] [URL="http://fortune.com/2019/01/28/trump-tax-reform-hiring-investment/"]Why Trump's $1.5 Trillion Tax Cut Hasn’t Sparked Hiring or Investment[/URL] But regarding the regulations that have allegedly been done away with by Trump, I've yet to see anything substantive that's been in place long enough to have had any real impact (with perhaps a few narrow, industry-specific exceptions, e.g. removing onerous oversight requirements on community banks). [/QUOTE]
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