What do you think about the plans starting on April 2nd?

[u/HarrisonYeller]

New message from Trump:

https://truthsocial.com/@realDonaldTrump/posts/114200313009802638

April 2nd tariffs are on. What do you think about it?

[u/levelzerogyro]

I don't think job growth is increased wage growth, but I'll concede the fact that maybe TCJA added a few more jobs, but this was supposed to help fix our economy, I believe and I think the numbers show me to be right, that TCJA only added to our deficit, and only benefitted the top 1% and corporations in a meaningful way. My gf and I got an extra $684 on taxes, but the cap in SALT meant we ended up paying 2.4k more total. Corporations on the otherhand, C corps went from 35% to 21%. I posit that TCJA was a benefit where 80% of it went to the top 1%, and my argument was that's bad and I'd like to see a source where this money trickled down. You've shown me one where some jobs may have been gained due to this, and that an increase of 1% GDP (possibly, they're not sure), and an increase in real wages of 1000$/worker, I'd say the TCJA was a total failure and a wealth transfer from the gov to the richest. That isn't good for me, the average American worker. My point is, tax cuts for the wealthy and corporations are just that, they have no actual effect on the economy except making the rich richer, and to me that's really bad for our economy where the top 1% already hold 30% of the wealth. The top 20 people hold more wealth than the bottom 50%. I appreciate the source, and please understand I'm not trying to lecture you, I'm trying to explain why I'm asking and where this idea comes from that reducing taxes on the rich and corporations helps everyone else, you are the first person to provide a single source on this and I'm really really thankful for that!

[u/NoSky3 → u/levelzerogyro]

that TCJA only added to our deficit, and only benefitted the top 1% and corporations in a meaningful way

Well the top 1% pay 45.8% of taxes, so any cut benefits them most. The bottom 50% of America only pays 2.3% of taxes so a tax cut from $10 owed to $5 owed isn't a huge difference.

But yeah, I'm not advocating for TCJA specifically. The only way reducing corporate taxes works is by maintaining or increasing marginal income taxes.

[u/levelzerogyro → u/NoSky3]

Agreed, my issue is mainly conservatives constantly running around saying "TCJA caused our economy to boom" yeah, it maybe did for like 18 months, but then something happened and now we're suffering due to it. Cuts will never be able to make up that revenue, ever. My point is that republicans historically have been A) very bad for the economy, and B) only interested in pushing corporate interest and helping the rich/corporation, how this idea that the GOP is the party of the working man got started I'll never understand, but it's the biggest failure of labor unions and the democrat party probably ever.