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Drudge Retort: The Other Side of the News
Thursday, June 13, 2024

Donald Trump promised to lower the corporate tax rate to 20%, further reducing the income levy on the largest US companies that he already slashed while president, according to people familiar with the remarks.

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Lessee... the climate change denying Pres (who ignores 97 percent of scientists on human caused climate change) is going strip industry regulations of all sorts, while adding trillions more to the Deficit just like he did before to give already very profitable Big Corporations even more money...

... because, ya know, rwingers are still dumb enough to think this is going to Tinkle Down on them; when you have a hard time finding even the people who pushed Supply Side and Trickle Down economics who don't now say that it never, ever trickled down on anyone.

"Trickle-down economics generally does not work because:

Cutting taxes for the wealthy often does not translate to increased rates of employment, consumer spending, and government revenues in the long term.

Instead, cutting taxes for middle- and lower-income earners will drive the economy through the trickle-up phenomenon.

The added income for the wealthy, resulting from tax cuts, will simply increase the growing income inequality in the United States."

www.thebalancemoney.com

"In December 2020, a London School of Economics report by David Hope and Julian Limberg was released which examined five decades of tax cuts in 18 wealthy nations and found they consistently benefited the wealthy but had no meaningful effect on unemployment or economic growth."

www.investopedia.com

#1 | Posted by Corky at 2024-06-13 07:47 PM | Reply | Newsworthy 1

Is the demented diaper sniper still gibbering about sharks?

#2 | Posted by reinheitsgebot at 2024-06-13 10:57 PM | Reply | Newsworthy 1

And lets not forget, it SHIFTS the tax burden onto the Middle Class...

The nation STILL needs its money. It will get it from somewhere.
And that somewhere will be more taxes on the Middle Class.

Only TRUE IDIOTS vote GOP that are not already rich.
I mean you are slitting your own wrist economically.

#3 | Posted by earthmuse at 2024-06-14 06:41 AM | Reply | Newsworthy 1

Transactional as hell, grifting all the way. Sooner or later, in a country where the rich pay little for taxes, the roads don't get fixed, the military becomes second tier, and we become Russia.
But for Trump that would be a good thing, America could be as Russia is, run by a few billionaire oligarchs who took parts of the Soviet Union as their own. I bet he would first try to sell the National Forests to his buddies.

#4 | Posted by Hughmass at 2024-06-14 07:37 AM | Reply | Newsworthy 1

He'll promise to eliminate all taxes once he gets desperate enough.

#5 | Posted by ClownShack at 2024-06-14 11:25 AM | Reply | Newsworthy 1

Man Woman Shark Battery Electrocution.

#6 | Posted by Nixon at 2024-06-14 01:32 PM | Reply | Funny: 1

He'll promise to eliminate all taxes once he gets desperate enough.

The problem is that he and the GOP will do it for them and then say social security needs to be killed because deficits.

#7 | Posted by Nixon at 2024-06-14 01:33 PM | Reply

Yeah....deficits caused by giving BILLIONS to BILLIONAIRES...

#8 | Posted by earthmuse at 2024-06-14 02:08 PM | Reply

Perhaps the saddest part of the promises made to CEOs is that the average MAGA mouth breather thinks the tax breaks will be meaningful to them ...

#9 | Posted by catdog at 2024-06-14 09:35 PM | Reply

Nothing ever trickles down to the middle class. That spigot goes directly from the 1% to their Swiss bank accounts.

#10 | Posted by AlternateFacts at 2024-06-15 08:49 AM | Reply

Tax cuts = annual deficits growing national debt

- When Bill Clinton left office, we had $5.6 trillion in national debt and no annual deficits.

- Shrub & Republicans chose to enact TWO tax cuts instead of paying off the national debt. "Ronald Reagan said deficits don't matter," said Vice President Dick Cheney

- Bush left office with $1.4 trillion annual deficits and $12 trillion in debt.

- Obama and Dems got annual deficits back down to $500 billion a year

- Trump & Republicans passed another tax cut and left us with over $1 TRILLION in annual deficits again (in a "ROARING ECONOMY") and the largest growth of national debt during a presidency since WWII.

Tax cuts don't "trickle down" to the middle class. They're just the means the GOP uses to get the debt so high they can slash SS & Medicare as the rich get richer.

#11 | Posted by AMERICANUNITY at 2024-06-15 02:09 PM | Reply

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