This week in 2017, Trump signed the tax cut. What do people think of it one-year on?
From my view, almost none of the things we were sold on why it was needed have come true. The administration said the tax cut would pay for itself to the point of reducing our deficit, it would not be used on stock buy-backs but instead on workers, it would cause the stock market to surge, and it would provide an injection to the economy.
Almost none of those things came true. Our deficit is up 17% from this point last year, the stock market is about the same as this time last year, most companies have issued stock buy-backs (a few used it for workers, but a small percentage), there is some evidence it provided a small boost for the economy, but the foundations of our economy are definitely not better today than they were this point last year...so for those of you who loved it, do you still love it, has it proved to be weaker than you expected, or has it been a failure?
From my view, almost none of the things we were sold on why it was needed have come true. The administration said the tax cut would pay for itself to the point of reducing our deficit, it would not be used on stock buy-backs but instead on workers, it would cause the stock market to surge, and it would provide an injection to the economy.
Almost none of those things came true. Our deficit is up 17% from this point last year, the stock market is about the same as this time last year, most companies have issued stock buy-backs (a few used it for workers, but a small percentage), there is some evidence it provided a small boost for the economy, but the foundations of our economy are definitely not better today than they were this point last year...so for those of you who loved it, do you still love it, has it proved to be weaker than you expected, or has it been a failure?
