This thread is not about Trump or climate change denial. Not about whether Trump is helping himself out and his rich buddies with these tax breaks.
I am very worried about climate change, and since USA is one of the world's largest polluters I am extremely disappointed that USA has gone down the path of denying climate change and removing environmental protection regulations.
But that all said,
I would like to get opinions or information from people here, in regards to the financial aspect of "1. trickle down" from tax benefits aimed at the wealthy, and 2. removal of environmental protections.
It seems that (although Trump inherited a very good economy which was trending up), since being in control for a significant amount of time, and having implemented a tax cut as well as removing regulations, the USA economy is doing better than predicted (predictions from before the Trump presidency).
I understand that taxes can be a brake on investment and industry and also environmental protection can also be a brake on investment and industry. So it's not surprising to me that these policies would improve actuals vs predictions (in the short term) from purely an economic perspective.
But I also understand that there are lots of people whom consider "trickle down" policies to be bad financially as they claim that the money goes into the pockets of the wealthy and very little of it goes back into the economy via spending or reinvesting (and not creating those jobs and income that those that support trickle down believe would happen).
I'm interested in this aspect, because historically I've also been a trickle down proponent. It makes sense to me that if you support business and investment then that creates opportunities for those that are needed to be employed in order to operate that business. But I have had some discussions with people that don't like trickle down and I have listened to them and tried to understand. I am still very open to changing my mind on trickle down.
Anyway, I am finding it interesting to see what is going on in USA at the moment.
1. Is trickle down working?
2. Will this continue working in the mid to long term?
3. Is it the removal of environmental protection that is creating this gain or is it the tax reform? (or both?)
4. Is the lack of govt revenue gathering (loss of taxes) in a boom time going to bite USA once a harder economic period arrives (economies traditionally have a boom/bust cycle).
5. Is the "increase" in economic activity mitigating the loss in revenue from (individual taxes)? As an economy booms, more activity occurs and that in itself generates tax revenue.
In my view, ordinarily for item 4, govt's tuck some money away in good times so that they can survive in the bad times. Money is needed in harder economic periods to inject into the economy and help kick start things. But if you don't save in the good times, how will that impact the following bad period?
I am very worried about climate change, and since USA is one of the world's largest polluters I am extremely disappointed that USA has gone down the path of denying climate change and removing environmental protection regulations.
But that all said,
I would like to get opinions or information from people here, in regards to the financial aspect of "1. trickle down" from tax benefits aimed at the wealthy, and 2. removal of environmental protections.
It seems that (although Trump inherited a very good economy which was trending up), since being in control for a significant amount of time, and having implemented a tax cut as well as removing regulations, the USA economy is doing better than predicted (predictions from before the Trump presidency).
I understand that taxes can be a brake on investment and industry and also environmental protection can also be a brake on investment and industry. So it's not surprising to me that these policies would improve actuals vs predictions (in the short term) from purely an economic perspective.
But I also understand that there are lots of people whom consider "trickle down" policies to be bad financially as they claim that the money goes into the pockets of the wealthy and very little of it goes back into the economy via spending or reinvesting (and not creating those jobs and income that those that support trickle down believe would happen).
I'm interested in this aspect, because historically I've also been a trickle down proponent. It makes sense to me that if you support business and investment then that creates opportunities for those that are needed to be employed in order to operate that business. But I have had some discussions with people that don't like trickle down and I have listened to them and tried to understand. I am still very open to changing my mind on trickle down.
Anyway, I am finding it interesting to see what is going on in USA at the moment.
1. Is trickle down working?
2. Will this continue working in the mid to long term?
3. Is it the removal of environmental protection that is creating this gain or is it the tax reform? (or both?)
4. Is the lack of govt revenue gathering (loss of taxes) in a boom time going to bite USA once a harder economic period arrives (economies traditionally have a boom/bust cycle).
5. Is the "increase" in economic activity mitigating the loss in revenue from (individual taxes)? As an economy booms, more activity occurs and that in itself generates tax revenue.
In my view, ordinarily for item 4, govt's tuck some money away in good times so that they can survive in the bad times. Money is needed in harder economic periods to inject into the economy and help kick start things. But if you don't save in the good times, how will that impact the following bad period?
