Thump553
Lifer
- Jun 2, 2000
- 12,686
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Actually any real economist can document to you that tax cuts/cash giveaways/whatever you want to call them to the poor and middle class are far, far more effective to stimulating the economy and creating job growth than those to the rich. That's because the poor and middle class actually spend a greater percentage of the money thus creating demand. Daddy Warbucks taking his government bonus and speculating in the stock market does essentially diddly (expect maybe creating a few more jobs at brokerage firms.
That said a much more significant problem right now is the extent to which the Trump law has thrown the government budget out of wack, ramping up the deficit to an unsustainable level and setting us up for a new wave of rising interest rates and inflation. He is intentionally recreating the stagflation LBJ and Nixon created by accident. To me the first priority to eliminate the Trump tax law in it's entirety (unless by chance there is some small part of it that makes economic sense-probably by accident). Then aim at government corruption, fraud and waste (another Trump growth area) while directing government money to areas where it will do the best for the country as a whole.
That said a much more significant problem right now is the extent to which the Trump law has thrown the government budget out of wack, ramping up the deficit to an unsustainable level and setting us up for a new wave of rising interest rates and inflation. He is intentionally recreating the stagflation LBJ and Nixon created by accident. To me the first priority to eliminate the Trump tax law in it's entirety (unless by chance there is some small part of it that makes economic sense-probably by accident). Then aim at government corruption, fraud and waste (another Trump growth area) while directing government money to areas where it will do the best for the country as a whole.