Tag Archives: Trump tax cuts

No, this won’t be on the table until 2021 at the earliest. But the party’s candidates need to offer some solutions. Bloomberg OpinionThe Democrats’ Options for Repealing the Trump Tax Cut Stephanie Kelton | Professor of Public Policy and Economics at Stony Brook University, formerly Democrats' chief economist on the staff of the U.S. Senate Budget Committee, and an economic adviser to the 2016 presidential campaign of Senator Bernie Sanders

S&P 500 companies have returned a record $1 trillion to shareholders over the past year, helped by a recent surge in dividends and stock buybacks following sweeping corporate tax cuts introduced by Republicans, a report on Friday showed... ReutersS&P 500 Companies Return $1 Trillion To Shareholders In Tax-Cut SurgeNoel Randewich

I have been arguing, since 2016 (e.g., here, here, and here), that one of the likely outcomes of the kind of corporate tax cuts Donald Trump and his fellow Republicans have supported—and, as we saw, eventually rammed through—would be an increase in inequality. That’s because corporations would likely use a portion of their higher profits to engage in stock buybacks, leading to an increase in stock prices. And stock ownership in the United States is already grotesquely unequal. Therefore,...

Mentions MMT. See comments also. Mainly MacroDo Trump’s deficits matter?Simon Wren-Lewis | Professor of Economics, Oxford University ht Ralph Musgrave

Good news. Those funds will mostly be spent and flow into the economy.Hopefully, other firms will follow suit.ReutersWalmart uses lower U.S. tax bill to raise minimum wage to $11 an hourNandita BoserelatedLars P. Syll’s BlogThe minimum wage mythLars P. Syll | Professor, Malmo UniversityalsoHarvard Business ReviewIf Retailers Want to Compete with Amazon, They Should Use Their Tax Savings to Raise WagesZeynep Ton | adjunct associate professor in the operations management group at MIT’s Sloan...

Marco Rubio has second thoughts. Watch GOP candidates up for reelection in 2018 backpedal.Grasping RealityAnd now it is official: the official non-Trumpist Republican line is now that all of that stuff about the tax "reform" bill delivering materially faster economic growth in exchange for widening inequality was just boob bait for the bubbas.Brad DeLong | Professor of Economics, UCAL Berkeley

The tax-reform bill that US Republicans are attempting to implement is economically indefensible and blatantly unfair. But the US has a much deeper problem: the Anglo-Saxon model of representative government is in serious trouble, and nobody seems to know how to fix it. Project SyndicateAmerica’s Broken SystemBrad DeLong | Professor of Economics, UCAL Berkeley

SFC-based analysis.Seeking AlphaTax Reform: The Impact On Macro Fiscal Flows And Investment MarketsAlan Longbon

Ok, I can't resist a title like that. What we are witnessing in the US and indeed throughout the western world is the total failure of capitalism. Capitalism is now merely a looting machine. The financial sector no longer supplies capital for production. What the financial sector does is to turn discretionary consumer income into interest and fee payments to banks. Aggregate demand can only grow through debt expansion, and the consumers reach a point where they cannot expand their...

Add the Trump tax cuts to the list of policy mistakes if it becomes law.Calculated RiskPolicy MistakesBill McBride