Originally Posted by
walrus
https://www.heritage.org/markets-and...back-boogeyman
Even with share buy backs it has been portrayed as the economic boogeyman. It helps everyone with 401ks and all the retail investors. Yeah the 1% gets more but what the fuck do u do. They will get that no matter where the money goes, they also pay the most in taxes even with cuts. You need to look at how many don’t pay taxes here Kirk. And the stock market is the economy, there are other ascpects of the economy but the market is king here in the US
The whole point of these corporate tax cuts is that corporations are supposed to do two things with the money, increase wages and primarily increase investment. But like I already showed you, real wages for the non executive/management part of the workforce, over 90%, have fallen in the last year and instead of investing firms are buying back their stock. There are no good investment opportunities so they're buying back their own stock, something that rightly used to be illegal until Reagan allowed it And this was eminently predictable, and of course I did predict it, but it's the easiest prediction ever as all you have to do is look at previous corporate tax cuts and see what happened.
Trump could have created decent actual growth with the tax cuts. He could have given 90% of it to low/middle earners who are all paycheque to paycheque and would have immediately spent it. This increased demand would have created massive investment opportunities for business to expand so they can cater to the increased demand. And that's how the economy used to work right up until Reagan and the supply side idiots came along and fucked it up.
And the stock market is not the economy. Real annualised economic growth since 2009 is 2.3% Stock market growth in the same period is over 15% a year. Stock markets regularly go up during economic recessions. Five out of the last ten recessions have seen positive stock market returns. 80% od stocks are owned by 8% of the population. The bottom 80% of the population own basically no paper financial assets at all.
Look at the explosive growth since the massive supply side wealth redistribution started by Reagan. Do you have the same explosive growth in US wages? No, adjusted for inflation people haven't had a rise since 1980. You're being fucked up the arse daily and you're too ignorant and tribally captured to realise what's happening. They know just how to press your buttons to keep you voting against your economic interests.
Bookmarks