Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,525,943 members, 5,782,123 topics. Date: Tuesday, 11 August 2020 at 04:47 AM

Are US Tax Cuts Really Helping Economy? - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Are US Tax Cuts Really Helping Economy? (76209 Views)

VP Osinbajo Coordinated MSME Clinics Campaign Is Really Helping Nigerians / Kaduna Cuts Public Servants Salary By 25% To Fund Support Packages / Saraki Reacts To Viral Audio On Helping Buhari In 2015 (2) (3) (4)

(1) (Reply) (Go Down)

Are US Tax Cuts Really Helping Economy? by kerryvienne: 8:52pm On Mar 29, 2019
I just came across a news article which shared that Trump administration is going for a tax cut to fuel the growth of economy.

Source: https://www.seekerstime.com/trumps-decision-for-tax-cut-fails-to-power-predicted-growth-conclude-officials/

The officials, on the other hand, are disagreeing to this. They believe in the long run, this action will not be helpful. Is anyone here good at economics and can help me understand how this is possible?
Re: Are US Tax Cuts Really Helping Economy? by Warship: 10:14pm On Mar 29, 2019
kerryvienne:
I just came across a news article which shared that Trump administration is going for a tax cut to fuel the growth of economy.

Source: https://www.seekerstime.com/trumps-decision-for-tax-cut-fails-to-power-predicted-growth-conclude-officials/

The officials, on the other hand, are disagreeing to this. They believe in the long run, this action will not be helpful. Is anyone here good at economics and can help me understand how this is possible?


https://www.cato.org/events/tax-cutting-economic-growth-lessons-coolidge-tax-reform

Calvin Coolidge is one of US greatest president whose tax cuts, lead to economic growth and prosperity.


The fastest way to prosper a society, is to;

1) increase the citizens incomes.
2) reduce the citizens expenses.
3) empower each citizen to produce more cheaper and quality goods & services.

Taxes are part of citizens expenses that are income to the government.

When citizens expenses increase and incomes reduce, with time, the economy do stagnant leading to a poorer society and underfunded government.



In Summary, Trump's tax cut will reduce the expenses of the US citizens therefore, freeing more money for savings, lending, investment, etc which are instrumental to economic development and prosperity.


Initially, the revenue of the US govt will nosedive but if the freed up tax is reinvested by the citizens, it will generate more revenue for the government than previous revenue.

1 Like

Re: Are US Tax Cuts Really Helping Economy? by Milpitas: 9:09pm On Feb 12
I think tax cuts are good for the economy. They increase the expendable money for investors and other business people to use for, well business.

Sources:
<a href=“https://www.sanjosepianolessons.net/jazz-piano.html
”>jazz piano teacher san jose</a>
<a href=“http://www.salinastreeservices.com/tree-removal-service-and-stump-removal.html
”>tree removal salinas ca</a>
<a href=“https://www.cupertinopestcontrol.com/bed-bug-exterminator.html
”>bed bug exterminator</a>
https://www.milpitasconcrete.com/residential-concrete.html
Re: Are US Tax Cuts Really Helping Economy? by bigpicture001: 9:12pm On Feb 12
Warship:



https://www.cato.org/events/tax-cutting-economic-growth-lessons-coolidge-tax-reform

Calvin Coolidge is one of US greatest president whose tax cuts, lead to economic growth and prosperity.


The fastest way to prosper a society, is to;

1) increase the citizens incomes.
2) reduce the citizens expenses.
3) empower each citizen to produce more cheaper and quality goods & services.

Taxes are part of citizens expenses that are income to the government.

When citizens expenses increase and incomes reduce, with time, the economy do stagnant leading to a poorer society and underfunded government.



In Summary, Trump's tax cut will reduce the expenses of the US citizens therefore, freeing more money for savings, lending, investment, etc which are instrumental to economic development and prosperity.


Initially, the revenue of the US govt will nosedive but if the freed up tax is reinvested by the citizens, it will generate more revenue for the government than previous revenue.

Tax cut boost economic growth alot
Re: Are US Tax Cuts Really Helping Economy? by Tarkus: 3:51pm On Feb 26
If you define economy as the spending power of the people, then tax cuts will help boost the economy. If you factor in the government debt, then they may not.

At the end of the day, these are two separate issues.

1. The government debt SHOULD be reduced by reducing government spending, not by taxing the population.

2. By reducing taxes on individuals, they keep more of their money, which for most people means they will spend more money, which will boost the economy. By reducing taxes on small businesses, they can reduce prices OR expand their business, both of which boost the economy. Small businesses are the backbone of the US economy, and their health is a great indicator of economic growth. For example, if you reduce taxes on a chimney cleaning business, if they reduce their prices, more people can afford to use their services more often. That means they spend more money on fuel going to customer locations, they may hire more people, they will probably spend more money replacing equipment more often, etc. In the end, the small business spends more money, creating more jobs in their own business or the businesses they spend money with.

When taxes are low, the economy blooms. High taxes stifle economic growth, and eventually lead to outsourcing, which helps someone else's economy, not ours.
Re: Are US Tax Cuts Really Helping Economy? by rightpools: 11:34am On Mar 28
I think it is hard to tell what exactly could a tax cut mean for the future. I guess it kind of depends on the future. Many citizens will benefit from the tax cuts today and for the near future, but who knows what this means for them later. Depending on how long the virus will hold the economy back, the government, once back in business, may not be able to support these jobs they once had for many citizens before the virus broke out. So although it may mean security for the near future, in the far future it could mean a high unemployment rate and so on. Brick & mortar and service-based businesses like the pool industry in which I work in or
some cleaning companies out there will suffice to survive, but public jobs may not strive well.
https://dubaipoolcare.com
https://boltoncarpetcleaner.co.uk

So I really think we need to evaluate the situation a little more thoroughly so we can understand the bigger picture and make wiser decisions.

1 Like

Re: Are US Tax Cuts Really Helping Economy? by Yosupbro: 9:45pm On Mar 29
You mention Calvin Coolidge's tax cuts. I honestly believe he was the greatest president the United States ever had. If he'd stayed president I don't think we would have even had the great depression. This is really what it comes down to, great presidents stay out of the economy, and bad presidents muddle with it.

Tax cuts are great but really, we should just aim to keep the government out of the economy.

mason@https://www.sanjoseconcretecontractors.com/
Re: Are US Tax Cuts Really Helping Economy? by acc8: 6:09pm On Mar 30
I believe that tax cuts will help the economy. With increasing income- citizens can stimulate the economy. Especially after this global pandemic. <a href="https://www.headlockedmedia.com/ "></a>
Re: Are US Tax Cuts Really Helping Economy? by BurnabyRenos: 2:05am On Apr 30
It's tough to say what will happen with a tax cut. It may benefit in the short-term with increased spending from folks. I think we need to take a look at how other countries have handled economy shutting events in the past and formulate a plan based on that. I think nations have proper economic boosting procedures set in place, it will be more of seeing how we can benefit in the short-term.
https://www.burnabyhomerenovations.ca/
Re: Are US Tax Cuts Really Helping Economy? by Lakudra: 8:36am On May 10
Entertainment has existed all through written history, changing with the presentation of https://www.sexcams.club/ . Many explicitly express frescoes and figures were found in the Mount Vesuvius remnants of Pompeii.

Since the appearance of the web, https://www.xvideos.tube/ use has soar to confounding statures. Xvideos, the world's biggest free site, got over 33.5 billion site visits during 2018 alone.

Science is just barely starting to uncover the neurological repercussions of https://www.xnxx.top/ utilization. In any case, it is as of now certain that the psychological well-being and experiences.

From wretchedness to erectile brokenness, https://www.xhamster.llc/ seems, by all accounts, to be capturing our neural wiring with desperate outcomes.

The properties of https://www.chaturbates.net/ make it an especially amazing trigger for pliancy, the mind's capacity to change and adjust because of experience.

In the long haul, https://www.shemalecamspro.com/ entertainment appears to make dysfunctions, particularly the powerlessness to accomplish erection or climax with a genuine accomplice.
Rather than going to a sentimental accomplice for https://www.sexcams.club/cam/hotfallingdevil/ satisfaction or clients intuitively go after their telephones and PCs when want comes calling.

Entertainment fulfills all of the essentials for neuroplastic change. At the point when https://www.sexcams.club/cam/littlesubgirl/ brag that they are pushing the envelope by presenting new, harder topics.

Hot https://www.sexcams.club/cam/naughtyelle/ , as addictive substances, are hyper-invigorating triggers that lead to unnaturally significant levels of dopamine emission.

The desensitization of our prize hardware makes way for https://www.sexcams.club/cam/siswet19/ dysfunctions to grow, yet the repercussions don't end there. Studies show that adjustments in the transmission of dopamine can encourage sorrow and nervousness.

In concurrence with this perception, https://www.sexcams.club/cam/anabel054/ purchasers report more noteworthy burdensome indications, lower personal satisfaction, and less fortunate psychological wellness contrasted with the individuals.

The other convincing finding in this examination is that enthusiastic https://www.sexcams.club/cam/migurtt/ purchasers wind up needing and requiring more it, despite the fact that they don't really like it.
Re: Are US Tax Cuts Really Helping Economy? by SFConcrete: 12:05am On Jul 08
Great topic! In the long run, I don't think the tax cuts will help my company. https://www.santafeconcretecontractors.com

(1) (Reply)

Akwa Ibom Is The Cleanest State - Clean-Up Nigeria Says / Donald Trump Condemns Killings Of Nigerian Christians in Meeting with Buhari / Fati Ajimobi Hails Father, Ganduje For Dethroning Emir Sanusi

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2020 Oluwaseun Osewa. All rights reserved. See How To Advertise. 86
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.