Tag: no new jobs

Trump Tax Plan May Free Up Corporate Dollars, but Then What?

The following article by Patricia Cohen was posted on the New York Times website August 29, 2017:

Republicans say that a tax overhaul will free up funds for investment and stimulate the economy, a result that has proved to be elusive in the past. Credit Mike Blake/Reuters

The tax overhaul promised by President Trump and Republican congressional leaders is lugging a remarkably heavy load. The goal is not only to reduce the tax bills of corporations and small businesses, but also to stimulate investment, create jobs, increase global competitiveness and promote economic growth.

Whatever the intentions, though, pushing the world’s largest and most diversified economy in any particular direction is a colossal undertaking. In addition, there is a large and sophisticated tax avoidance industry dedicated to frustrating the most carefully worded proposals. Continue reading “Trump Tax Plan May Free Up Corporate Dollars, but Then What?”

Trickle-Down Tax Cuts Don’t Create Jobs

The following article by Seth Hanlon and Alexandra Thornton was posted on the Center for American Progress website August 24, 2017:

President Donald Trump talks with House Speaker Paul Ryan (R-WI) in the Rose Garden of the White House, May 4, 2017. Credit:  AP/Evan Vucci

Read the full series of fact sheets here. 

President Donald Trump and House Republicans have proposed trillions of dollars in tax cuts, predominantly for high-income individuals and corporations. These tax cuts would come at the expense of middle-class families’ economic security and investments in our economy, such as education, scientific research, and infrastructure. While the administration and House Republicans plan to advance their agenda through Congress this fall, public opinion is crystal clear that the American people do not support the tradeoff between tax cuts for millionaires and economic security for working families.1 Trump and House Republicans are therefore taking a page out of an old playbook: claiming that tax cuts will trickle down to working families in the form of stronger economic growth. But recent history and an abundance of economic research show that trickle-down tax cuts don’t create growth or jobs; they lead only to widening inequality between the top 1 percent of income earners and everyone else.2 Continue reading “Trickle-Down Tax Cuts Don’t Create Jobs”