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[GK86]

Link.

President Donald Trump touted his party’s tax reform push on Tuesday and argued that an overhaul that adequately reduced taxes on businesses will “create millions of new jobs.”

“We're going to reduce taxes for companies, and those companies are going to produce jobs,” Trump said in the White House, where he gathered with Republican leaders to talk taxes. “Tax reform that follows these principles will create millions of new jobs and ensure that more products are stamped with the very beautiful letters and words, ‘Made in the U.S.A.’”

“It's time to lower our taxes, bring back our wealth and make America the jobs magnet that it can become, and pretty quickly,” he added.

Congressional leaders who attended the meeting included Senate Majority Leader Mitch McConnell, House Speaker Paul Ryan, Senate Finance Committee Chairman Orrin Hatch, and House Ways and Means Committee Chairman Kevin Brady. From the administration, Vice President Mike Pence joined, as well as Treasury Secretary Steven Mnuchin, National Economic Council Director Gary Cohn, deputy chief of staff Rick Dearborn, and legislative affairs director Marc Short, according to a pool report.

Ryan has said Congress plans to pass tax reform by the end of the year, but lawmakers have a long to-do list before then, including passing a budget, funding Hurricane Harvey disaster relief, raising the debt ceiling and now, potentially, tackling immigration reform.

 

[Username1198]

Well, he did create at least 800,000 new jobs today. He's not lying for once!

 

[Sho_Nuff82]

History has shown us that, time and again, companies would sooner choose to hold onto those profits and simply squeeze more productivity out of existing workers.

 

[Zombie James]

“We're going to reduce taxes for companies, and those companies are going to produce jobs,” Trump said in the White House

When has this ever - ever - been proven to work?

 

[Get'sMad]

just let it all trickle down like that one night in a hotel in Moscow

 

[Byakuya769]

No. He LIED.

 

[SaintR]

just let it all trickle down like that one night in a hotel in Moscow

Well done

 

[GK86]

History has shown us that, time and again, companies would sooner choose to hold onto those profits and simply squeeze more productivity out of existing workers.

Yes, but it will work THIS TIME for sure.

 

[Mimosa97]

just let it all trickle down like that one night in a hotel in Moscow

Well played.

 

[WaterAstro]

It's funny to see him speak somewhat decently when he's looking at the paper, then when he is not, he is literally spouting random gibberish.

 

[shaowebb]

Historically trickle down dont produce shit man. Dont know what pipe he's been smoking.

 

[JayCB]

At this point we could really just have a 'Trump incorrectly claims' OT, honestly.

 

[BlueTsunami]

The same dude who stiffed contractors is really talking creating jobs?

Also....



Surejan.gif

 

[m_dorian]

Well, he did create at least 800,000 new jobs today. He's not lying for once!

This is the fictional British Trump.

https://www.youtube.com/watch?v=NBHHFnUqo5o

 

[Ms.Galaxy]

Well, he did create at least 800,000 new jobs today. He's not lying for once!

I think removing 800,000 people from the workplace means even less jobs and a likely recession.

 

[AmayaPapaya]

"Tax Reform" is just a nice word for Tax Cuts, and should be called as such.

Tax Cuts have never created jobs.

 

[Subpar Spatula]

“It's time to lower our taxes, bring back our wealth and make America the jobs magnet that it can become, and pretty quickly,” he added.

The wealth is already in America -- y'all have the most billionaires and almost all the top. 8/10 of the top 10 richest people in the world are American.

 

[whitemex88]

The same dude who stiffed contractors is really talking creating jobs?

Also....



Surejan.gif

 

[WiiredShawn]

Sorry, Folks, Rich People Don't Actually Create the Jobs

"Rich people create the jobs."

Specifically, by starting and directing America's companies, entrepreneurs and rich investors create the jobs that sustain everyone else.

This statement is usually invoked to justify cutting taxes on entrepreneurs and investors. If only we reduce those taxes and regulations, the story goes, entrepreneurs and investors can be incented to build more companies and create more jobs.

This argument ignores the fact that taxes on entrepreneurs and investors are already historically low, even after this year's modest increases. And it ignores the assertions of many investors and entrepreneurs (like me) that they would work just as hard to build companies even if taxes were higher.

But, more importantly, this argument perpetuates a myth that some well-off Americans use to justify today's record inequality — the idea that rich people create the jobs.

Entrepreneurs and investors like me actually don't create the jobs -- not sustainable ones, anyway.

Yes, we can create jobs temporarily, by starting companies and funding losses for a while. And, yes, we are a necessary part of the economy's job-creation engine. But to suggest that we alone are responsible for the jobs that sustain the other 300 million Americans is the height of self-importance and delusion.

So, if rich people do not create the jobs, what does?

A healthy economic ecosystem — one in which most participants (especially the middle class) have plenty of money to spend.

Non-Partisan Congressional Tax Report Debunks Core Conservative Economic Theory-GOP Suppresses Study

The reduction in the top tax rates appears to be uncorrelated with saving, investment and productivity growth. The top tax rates appear to have little or no relation to the size of the economic pie. However, the top tax rate reductions appear to be associated with the increasing concentration of income at the top of the income distribution

Seriously, this isn't hard. Putting money in the hands of the poor and middle-class does more to drive economic growth. We have plenty of evidence that trickle-down economics isn't the appropriate solution to our economic issues, and yet, people still believe this nonsense. It's maddening.

 

[Oblivion]

It's simple economics.

If a CEO gets to keep more of his money, they will obviously pass the savings onto their employees. The only possible flaw in this logic is if said CEO decides to keep the savings for himself.

But what are the odds of THAT happening?

 

[Suikoguy]

It probably won't produce much in the way of measurable jobs, given that Employee Healthcare is the far bigger issue for companies choosing a location to base their operations.

 

[Spectone]

So if cutting corporate taxes creates jobs then countries with higher corporate taxes would have more unemployed right? What country is like that?

 

[Vicetrailia]

Before someone cites resorting due to tax cuts, that will happen anyway due to automation.

 

[TheContact]

When has this ever - ever - been proven to work?

When republicans goes to sleep and dream. Then and only then

 

[Oblivion]

Low taxes = more jobs, more revenue, and more economic growth.

It's why places like Kansas and Rwanda are among the economic power centers of the world.

 

[PSqueak]

At this point it feels like he thinks anything he does magically creates jobs.

 

[DarthWoo]

Not like the last repatriation tax holiday didn't ultimately result in a net LOSS in jobs or anything, but hey...