Supply-Side Economics

[Chicks]

Economists flee Agriculture Dept. after feeling punished under Trump
Reports showing farmers hurt by the president’s policies have drawn the ire of top officials.

https://www.politico.com/story/2019/...-trump-1307146

Economists in the Agriculture Department's research branch say the Trump administration is retaliating against them for publishing reports that shed negative light on White House policies, spurring an exodus that included six of them quitting the department on a single day in late April.

The Economic Research Service — a source of closely read reports on farm income and other topics that can shape federal policy, planting decisions and commodity markets — has run afoul of Agriculture Secretary Sonny Perdue with its findings on how farmers have been financially harmed by President Donald Trump's trade feuds, the Republican tax code rewrite and other sensitive issues, according to current and former agency employees.

The reports highlight the continued decline under Trump’s watch in farm income, which has dropped about 50 percent since 2013. Rural voters were a crucial source of support for Trump in 2016, and analysts say even a small retreat in 2020 could jeopardize the president’s standing in several battleground states.

“The administration didn’t appreciate some of our findings, so this is retaliation to harm the agency and send a message,” said one current ERS employee, who asked not to be named to avoid retribution.

Facts don’t align with the Supply Side bullshit from Whell’s Dear Leader? The truth tellers must be punished!

Whell, how can you and your ilk continue to be so incredibly ignorant?

[Chicks]

Corporations paid $91 billion less in taxes in 2018 under Trump's tax law

https://finance.yahoo.com/news/corpo...160745447.html

Hey Whell! Who do you think will have to make up the difference for the massive deficit? This isn’t a trick question. C’mon, you know the answer...

[finnbow]

President Trump will award the Medal of Freedom to Arthur Laffer, the influential supply-side economist whose theory for decades established strong incentives in Washington to cut taxes.

The White House said Friday that Mr. Trump will award the medal, the nation’s highest civilian honor, to Mr. Laffer on June 19.

https://www.washingtontimes.com/news...arthur-laffer/

So, the guy who has done more than any single individual to create our massive national debt is now being awarded for it. Brilliant.

[nailer]

The national debt is a bipartisan accomplishment.

[finnbow]

Originally Posted by nailer

The national debt is a bipartisan accomplishment.

Not really. Only one party has the motto "You can have it all, but you'll have to pay for it with tax cuts."

[nailer]

And raising taxes will be a key Democratic plank in 2020.

[finnbow]

Originally Posted by nailer

And raising taxes will be a key Democratic plank in 2020.

It would indeed be a good idea to shitcan Trump's tax law and replace it with something other than more-money-for-millionaires. This law lowered corporate rates to an effective rate of just 7% - the lowest since WWII, while increasing by $100 billion the amount collected from individuals last year.

https://www.yahoo.com/news/corporati...160745447.html

[Chicks]

This week in Trumponomics: The $1 trillion deficit draws near

https://finance.yahoo.com/news/this-...192517423.html

Economic growth has been okay, but it’s slowing down. The job market is strong, but hiring dipped in May. New data, meanwhile, show the national debt soaring by margins more typical of a recession than a boom. This suggests the tax cuts will have a transitory impact on growth while making the nation’s long-term debt problem considerably worse.

While lobbying for the tax cuts, which Trump signed into law at the end of 2017, Republicans argued that a sharp cut in the business tax rate—from 35% to 21%–would boost tax revenue through a surge in investment and booming growth. “The plan will pay for itself,” Treasury Secretary Steven Mnuchin said in 2017 as Republicans were drafting the tax-cut legislation.

That isn’t happening. Through the first 8 months of the government’s fiscal year—which begins in October—the Treasury Department borrowed $739 billion—up from $532 billion during the same period the year before, a 39% increase.

Sorry, Whell, you've been bamboozled. Whell, you still there? Whell!?

[donquixote99]

I'm afraid those tax-cut fueled mega-growth rates haven't materialized....

[Pio1980]

Making the wealthy more so to generate a greater flurry of crumbs still not working? If it's a hole we're in, stop digging?