OT: The liberals you hate may be right about stocks and finance

This poor, lonely, thread isn't getting any attention because it doesn't involve evil brown people coming to rape your daughters.

But the single most important event under the Trump administration was a huge corporate tax cut that went, on bulk, to stock buybacks. I'm willing to bet that not a single person on TUSCL benefited appreciably from the tax cut. It's projected to add about a trillion dollars to the deficit over 10 years -- so it represents a deficit-funded tax for corporations and CEOs. So the deficit will be used an excuse to cut social security, Medicare, Medicaid.

The main purpose of a public corporation is to maximize the wealth of it's shareholders.

Only on Yahoo would you see a complete load of CRAP like that article.

Its kind of sad what has happened to Yahoo. 20 years ago, they had the opportunity to become the Nations online newspaper. But they chose to become the online version of the National Inquirer.

Cutting taxes will never make a sustained contribution to the economy because there has been no demand increase. Same for that Rick Perry Red State Doctrine of cutting environmental or worker safety regs, or busting unions. Just a temporary boost, taking jobs away from other places and initiating a race to the bottom.

SJG

Yahoo finance? Boo! I like to get my economics knowledge from highly reliable sources. Such as...

https://m.youtube.com/watch?v=d0nERTFo-S…
https://m.youtube.com/watch?v=LA1-1DlhuX…

Here's a WSJ journal about the tax cuts and stock buybacks. Is the WSJ reliable enough for you, @Warrior?

"Boom in Share Buybacks Renews Question of Who Wins From Tax Cuts"
https://www.wsj.com/articles/boom-in-sha…

Typical discussion on TUSCL. Not so much about politics, just getting the facts straight.

The top end, or the supply side, or entrepreneurism do not expand the economy, they actually eat away at it and accelerate our descent into being a nation of Uber drivers and Shoe Shine Boys.

The economists of the Right are merely playing to emotional themes which sound sexy.

SJG

If you want to whine about not getting a benefit from the tax cut, remember the stock buybacks inflate the value of stocks. Any of you that own stocks or funds have received a benefit. If you don't own stocks, then that is your fault for not having any investments. I would rather have tax cuts so the public can choose what to do with the funds, rather than tax increases where the govt chooses for me.

Sanders et all, are just upset they can't spend the funds.

And besides, it's not the tax rate that matters. It's the exemptions allowed.

"Any of you that own stocks or funds have received a benefit. "
___
That's a good point, and yes most of us own stocks. I know I do. But 40% of all stocks are owned by the top 1%. And the tax cuts will fuel historic deficits according to the CBO:

https://www.reuters.com/article/us-usa-f…

So it's a deficit-funded tax cut that benefits people who need it the least. The deficit will almost certainly be used to argue that entitlements need to be cut back, which will hurt the bottom half even more.

The problem is spending, not tax cuts. The outrage should be over govt spending and waste. Enough taxes are already paid.

^^ so exactly where are going to cut? Medicaid? Medicare? Social Security? Exactly where is the waste?

IDK, @Dougster. It's true that I've seen lots of waste first-hand on government contracts. Medicare and SS are the big-ticket items and I personally don't think they should be cut or privatized.

#FACTSMATTER
for
#TXTITTYFAG

#PREACHTHEWORD

"I told u a hundred times i aint Douchester"
________
Yeah, sure @Dougster, sure.


@Ax20 wrote: "Any of you that own stocks or funds have received a benefit. "
____________
True, but it helps CEOs and executives the most since a much larger share of their compensation is in the form company stock. Doesn't help the average white slob in rural areas who voted for Trump. It was a deficit-funded tax cut for the rich.

Yeah they never waste money on things like $100k a year for booze on private flights.

What keeps the economy pumped up is government spending, afforded by taxation. While the spending should be done so it is efficient, keeping it going is what sustains the middle sector of employment.

SJG