Hacker News Reader

Comment by gonvaled | Hacker News Reader

It legislated a reduction in tax revenue hoping / pretending that an increase in economic activity will offset the reduction.

Fact 1: reduced tax rate and revenue

Fact 2: permanent beneffit to corporations, in the form of tax reductions

Bet 1: the economy will grow

Bet 2: the proffits will trickle down

Bet 3: increase in economy will allow to fullfill obligations

If the bets do not materialize, nobody cares. That is, nobody except tax payers and recipients of federal promises.

Corporations and wealthy individuals will pocket proffits upfront. The rest are left praying for the bets to work out.

View on HN

We’re talking about the repatriation part here, not all the others, which are a different debate.

i already received 1,000$, to which I spent on a new energy efficient door, to which I paid a handyman to install it. there is a lot more winners than your dogma suggests.

I am interested in seeing where this goes. if we do see wage growth from it, it provides evidence to a lot of questions about how the cost of healthcare was squeezing out our wages. if it doesnt, then a lot of complaints about corporations will have a lot more evidence.

putting all that aside, this news about apple bringing over the cash is a huge win for everyone. having that money sit and do nothing was pretty much bad for everyone.

> I am interested in seeing where this goes. if we do see wage growth from it, it provides evidence to a lot of questions about how the cost of healthcare was squeezing out our wages. if it doesnt, then a lot of complaints about corporations will have a lot more evidence.

Spoiler alert: It's a remake. Trickle-down doesn't work.

Investing significant money in businesses doesn't create more work. Increasing demand creates more work. How do you do that? You put more money into the hands of consumers, which is the opposite of what this bill did.

from what I am told, my taxes were lowered - thus you would be factually wrong. but I'll wait and see if that is true when I fill out my taxes.

beyond that, I have seen me and many others see immediate returns. your position is already starting from a hole, but I am a wait and see kind of person.

I hope it works out, you should too, unless you are one of those people who just want to see the world burn types.

> from what I am told, my taxes were lowered

Are you in the bracket of a typical American taxpayer or the bracket of a typical HN-er?

> I am a wait and see kind of person.

We've been slashing taxes on corporations and the wealthy since the Reagan era under the trickle down philosophy, but we're still waiting for that money to actually trickle down: https://www.epi.org/productivity-pay-gap/

If 50 years isn't a long enough experiment for you, what is?

There are no cuts in healthcare spending offsetting these tax cuts.

Ending the individual mandate will likely reduce the number of people buying insurance from ACA marketplaces, but that isn't going to dramatically change the price of other insurance (to the extent it has an impact, it will probably push insurance prices up...).

The tax cuts are, at present, going to largely be paid for by borrowing money.

Reply on news.ycombinator.com