Message from @RandomDiscordAccount
Discord ID: 608145814468034568
But it increased significantly under Reagan
I’m trying to point out Trickle Down Economics is utter bullshit.
It has never worked, and will never worked.
And certainly not what Tariff Man is proposing
it only went up exponentially under Bush JR
Not disputing that.
and that’s is not a point I was trying to say
Also, trickle down isnt a proper term, you're referring to reaganomics?
It is used interchangeably
i dont think* trump endorses reaganomics
But yes
It slightly different
But it is trickle down economics
how so?
because of the capital gains tax cut?
Here’s the idea of Trickle Down Economics
You give the wealthy a tax cut. A trillion dollar tax cut in this case
And the model follows.
That you believe that this tax cut will allow for
1) Worker’s wages to increase
How so?
let me ask, how exactly do you think Trump cut taxes for the rich? Im asking this to test your knowledge
If you dont know you can feely admit, im not here to try to make you look bad
I think I do, but not fully.
only to have a civil discussion about interesting topics
Nah I’m not here to be an egocentrist
Pretty sure he lowered the tax rates
With seven brackets
trump cut taxes that disproportionately affected those who invest in terms
But then again I could be wrong
in the form of capital taxes
he actually saw an increase in tax collection in term of income tax
but the income tax was not his main tax cut
it was capital gains tax
which affects profit made from stock or property that was owned for over 1 year
profit made from stock or property that was owned for less than one year just falls into income tax
he did this as it incentivized long term investment (investment of over one year) instead of short term day trading or quarterly trading of stocks.
now of course there are negative and benefits here, you incentivize long term investment but lose a large chuck of state fiscal revenue
Interesting