I_Like_Dirt wrote:dckingsfan wrote:Hahahaha - fake news! And this time from the left. On the truth meter, this is "mostly false".
The truth is that the tax cuts were only partially responsible for the huge increase in debt. Remember that stimulus? Not even on the chart
I mean, it might not be. I'm far too lazy to look at the details, but it looks to me as though it very much could have been counted into debt without policies or the great depression or both. But fair enough. That said, if you're suggesting the stimulus was by far greater than any of the other issues being brought up here, you have your head in the sand, and honestly, a great pre-emptive way to avoid stimulus disasters is to avoid the other issues on the listAnd they blamed the great recession on the tax cuts - bwaaaahahaha - that is fully on government policies.
The recession was on government policies? That's an even bigger stretch than tax cuts. To be honest, it's a bit of a chicken and egg thing, but that recession was entirely on private sector economic decision-making. Blaming government policies for that is along the same logic lines as blaming mass shootings on the actions of anyone besides the shooter. Yeah, others could handle things better, including the government, but they still weren't the ones pulling the trigger. I'm all for better government policies to better regulate the economy, though, to avoid the kinds of disasters that are proven to happen when the economy is left to its own devices resulting in corporate bailouts - i.e. a win-win for the large scale private sector and a lose-lose for everyone else.
We've been over this, but America has a value problem, not a spending problem. To be honest, at the crux of now the death of small business, which was invariably going to follow the death of unionized labor. I mean, certain small businesses will be alright, until they aren't anymore. The modern scale economy favors either big business or government control, and both of those have incredibly massive problems with them. Over time, the survivability of any particular small business is going to become- it's ability to expand rapidly to the point where it's no longer small business. The brilliance of small business and unionized labor symbiotic relationship was that it left for a competition of choice, where there were a hundred million hands out, nobody got what they wanted but everybody got something. Now, those hands are universally being ignored. Invariably the way forward is going to involve more power in the hands of both government and big business than anyone is particularly comfortable with (usually one side or the other depending on where people sit) but the reality is that they need to be balanced against one another and fast, or the spending issues you've seen now are going to be a drop in the bucket compared with the issues, spending and otherwise, that are coming in the future.
Very well written you are right small business it the life blood of business I own 2 small corporations and they have done very well. They are taxed federally at 10% and will drop over the next 2 years to 8.5%. Provincial taxes were 4.5% but have been dropped to 3.5% partially because Ontario has raised minimum wages to $14 a hour January 1/2018 and $15 a hour starting in January 1/2019. Could these business be bigger sure in reality they are but all my workers are paid well lowest paid is $18.50 a hour. To keep under the threshold I improve benefits, help pay student loans, encourage continuing education. My investment has been paid back with suitable interest and I do not take a salary or dividends from the company. The businesses are doing well and will likely be more profitable and over the $500,000 range this year and excess profits will be taxed Federally @ 15% and Provincially @ 11.5%. But that good I have a strong management team since the family members are moving into a new international endeavor.
But small businesses are what makes nations great and corporate tax cuts are much better aimed at them than multinationals. They hire the bulk of the people and deserve the incentive of a competitive tax rate. They should also treat there employees fairly and try to improve working conditions to improve moral. I know it has worked in my two small corporations.
