The markets rising does nothing for most of the average citizens though. tax cuts should be given to citizens instead of corporations for a better stimulus.
What should be said is companies made $4 trillion, but only a small portion of that went to paying the national debt or to actually paying workers more money or even investing to create more jobs, right?
And who wons those companies? 1 in 2 Americans directly invest in stock markets. 9 in 10 Americans are indirectly invested In stock market through pensions funds and mutual funds.
@@MAC-vi7fy Break the percentage down and stocks, mutual funds, etc., are mostly held by the wealthy. When it comes to owning stocks directly, families in the top 10% of earnings accounted for 44% compared to only 12% of the middle class and 5% of those in the bottom quintile. (52%) have some indirect investment in the market. Most of this comes in the form of retirement accounts such as 401(k)s.
Exactly! republicans have caused the income gap to widen tremendously over the last 30+ years. The rich are way richer and the poor are way poorer, and the middle class is disappearing altogether. We need unions and organizing. This idea of wealthy corporations making billions (and paying no taxes), while workers sleep in their cars, is insane. Everyone needs to VOTE BLUE at every single opportunity (not just POTUS elections). We need to save our beloved country, its fragile democracy, and its Constitution from this attempted Fascist takeover.
@@wesleymalutama3651 Oh did dems vote for that horrible tax break for the super rich? Nope. It had a 17% approval rating countrywide. #CorporateWelfare #RsHighOnTheirPRsupply
@@wesleymalutama3651 "Both parties play those games" ...parroting R BS... showing your R indoctrination there. Rs are the bad actors on many fronts, esp now. Setting up the country for a take over... too
@@saltpepper1894 You should know better than presuming the position of someone else. I'm not a Republican. Which is why I can recognize the flaws of both parties. What you're doing at the moment is the same thing a Republican will say about the Democrats. This is the problem because instead of looking at the politicians with objectivity. People from both sides play the blaming games. The truth is this : Both parties play the lobbyist, corporatism games. Both parties violate the Constitution. When you and a majority of Americans recognize those things, you'll be able to hold your politicians accountable.
@@theQuestion626 Trumps economy was trucking along despite the Fed increasing interest rates and this trade war with China. It was forced to shut down.
Government spending must eventually be cut. The US spends too much and we can never tax our way out of the deficit. If you refuse, eventually our fiat currency will crash and some will eat out of garbage cans. Greece, anyone?
I have no problem with big corporations making big money. I mean, that's inevitable! Everyone in the US owns an Apple product, I own 5! But damn, the average American did not benefit from this tax cut AT ALL. About $500 in savings they say. Capitalism just getting more and more extreme. Extremism is NEVER good.
I agree but these billion dollar a year companies dont need tax breaks they dont reinvest in the company the ceos just buy a bunch of stock back and screw the average American worker
@@funnelnutz3227 Yep exactly. Makes no sense to reduce taxes for big corporations. I get it, they reinvest a lot and create jobs but it doesn't offset the imbalance created by their enormous profits which really go to enrich high managers pockets. Unfortunately, the US has created the perception that taxes are bad. And the ones who believe it are the ones who suffer the most and will forever live in poverty. Look at rural America. They are so easily persuaded.
The grand total of all revenue collected from corporate taxes *_before_* the tax cut was just 6%, so the overall revenue didn't drop much due to the corporate tax cut. They could have cut it to zero and only lost 6% of revenue (of course that's not what they did). Most revenue is generated from individual income taxes - and the vast majority of individuals got a break on their taxes. There are also a lot more individuals paying taxes so the individual savings are not going to be staggering numbers, but many people saw huge cuts. Particularly middle to lower income families with children. You say the "average" American did not benefit at all, and this is simply false. According to the 2020 U.S. census, the average household income was about $78,500 in 2020. Take the average family of 4 that takes the standard deduction (prior to the tax cuts, over 70% of taxpayers took the standard deduction). Here is this family's tax return for 2017 (prior to the Trump tax cuts) : Income : $78,500 Exemptions ($4,050 x 4) : $16,200 Standard Deduction : $12,700 Taxable Income : $49,600 2017 Tax : $6,508 Child Tax Credit ($1,000 x 2) : $2,000 2017 Tax Bill : $4,508. This same family in 2020 : Income : $78,500 Exemptions : N/A Standard Deduction : $24,800 Taxable Income : $53,700 2020 Tax : $6,049 Child Tax Credit ($2,000 x 2) : $4,000 2020 Tax Bill : $2,049 This average American family saved almost $2,500. They saved 55% in taxes under Trump's plan. This is significant.
I thought the same thing! I have an economic theory that what is good for the short term is often bad in the long term. Our kids and grandkids will get the bill for this.
Real tax reform would have distinguished income earned by producing goods or providing services and income derived from passive income and speculation. Economics going back to Adam Smith consistently argued for the taxation of what are called "rents" (i.e., that portion of income derived from natural or artificial advantages). What would real income tax reform look like? First, all income regardless of source should be taxed under the same rate structure, which ought to be progressive in order to capture rent-derived income. We should exempt all individual income up to the national (or, for the states, the state) median income. Eliminate all other deductions or exemptions. Above the exempt level, impose an increasing rate of taxation on higher ranges of income. The tax system would then reward wages earned and shift the burden of taxation to incomes essentially unearned. Edward J. Dodson, Director School of Cooperative Individualism www.cooperative-individualism.org
Yea sure the stock market is up but what about hourly wages?? Wages have gone up but so has inflation and from what I’ve seen inflation is rising faster than the wages or at least keeping up. If inflation is keeping up with rising wages then hourly workers are making the same amount of money year in and year out and if inflation is more than rising wages then people are losing money year in and year out.
CNBC are at their usual bull crap artists again. I remember they kept saying there will be no recession and there were no signs 2004-2007. Thank god I listen to my Financial Advisor pulled out my money 2 years before the crash.
You're blaming inflation on supply side? Wages had grown fir eighteen consecutive months in excess of 3 percent and 54 percent for average household income since 2017 up till covid
"Laughter " just said large trade deficient is a good thing for Americans which is the opposite of what he said months ago lol. Manufacturing is almost DEAD so theres nothing to export which means its NOT GOOD for american citizens.
![⭐️( ลอยกระทง 2024 ) Ver. แดนซ์ Remix BY [ ดีเจกิต รีมิกซ์ ]](http://i.ytimg.com/vi/rMWOLhgXUHc/mqdefault.jpg)
The markets rising does nothing for most of the average citizens though. tax cuts should be given to citizens instead of corporations for a better stimulus.
th-cam.com/video/k3U9rNZj0I4/w-d-xo.html
All Rs have is PR BS for their cult....the rest of us suffer trump hell as usual.
LOL. 1 in 2 americans directly nvest in stock market. 9 in 10 americans are indirectly invested in market through pension funds, etc.
What should be said is companies made $4 trillion, but only a small portion of that went to paying the national debt or to actually paying workers more money or even investing to create more jobs, right?
And who wons those companies? 1 in 2 Americans directly invest in stock markets. 9 in 10 Americans are indirectly invested In stock market through pensions funds and mutual funds.
@@MAC-vi7fy Break the percentage down and stocks, mutual funds, etc., are mostly held by the wealthy. When it comes to owning stocks directly, families in the top 10% of earnings accounted for 44% compared to only 12% of the middle class and 5% of those in the bottom quintile.
(52%) have some indirect investment in the market. Most of this comes in the form of retirement accounts such as 401(k)s.
Exactly! republicans have caused the income gap to widen tremendously over the last 30+ years. The rich are way richer and the poor are way poorer, and the middle class is disappearing altogether. We need unions and organizing. This idea of wealthy corporations making billions (and paying no taxes), while workers sleep in their cars, is insane. Everyone needs to VOTE BLUE at every single opportunity (not just POTUS elections). We need to save our beloved country, its fragile democracy, and its Constitution from this attempted Fascist takeover.
Privatize the profits Socialize the cost. History tends to repeat itself.
@@ImGumby711
Lobbying, corporatism and crony capitalism.
Both parties play those games.
This isn't free market capitalism.
@@wesleymalutama3651 Oh did dems vote for that horrible tax break for the super rich? Nope. It had a 17% approval rating countrywide. #CorporateWelfare #RsHighOnTheirPRsupply
@@saltpepper1894
Clearly, you didn't read my comment.
@@wesleymalutama3651 "Both parties play those games" ...parroting R BS... showing your R indoctrination there. Rs are the bad actors on many fronts, esp now. Setting up the country for a take over... too
@@saltpepper1894
You should know better than presuming the position of someone else.
I'm not a Republican.
Which is why I can recognize the flaws of both parties. What you're doing at the moment is the same thing a Republican will say about the Democrats.
This is the problem because instead of looking at the politicians with objectivity. People from both sides play the blaming games. The truth is this : Both parties play the lobbyist, corporatism games. Both parties violate the Constitution.
When you and a majority of Americans recognize those things, you'll be able to hold your politicians accountable.
Gdp fell, but we skyrocketed, wages never increased, and the national debt increased 8 trillion dollars,
no mention of Fed propping up market daily with free money injections? Damn i cant wait until the truth finally comes out
the FED literally did that in Obamas Economy
@@tonyfc8809 yeah but this is Trumps economy has been for over two years. Please stay focused.
@@theQuestion626 Trumps economy was trucking along despite the Fed increasing interest rates and this trade war with China. It was forced to shut down.
Government spending must eventually be cut. The US spends too much and we can never tax our way out of the deficit. If you refuse, eventually our fiat currency will crash and some will eat out of garbage cans.
Greece, anyone?
Yeah lol
If this continues eventually the majority of our budgets will be just paying off interest
I have no problem with big corporations making big money. I mean, that's inevitable! Everyone in the US owns an Apple product, I own 5! But damn, the average American did not benefit from this tax cut AT ALL. About $500 in savings they say. Capitalism just getting more and more extreme. Extremism is NEVER good.
I agree but these billion dollar a year companies dont need tax breaks they dont reinvest in the company the ceos just buy a bunch of stock back and screw the average American worker
@@funnelnutz3227 Yep exactly. Makes no sense to reduce taxes for big corporations. I get it, they reinvest a lot and create jobs but it doesn't offset the imbalance created by their enormous profits which really go to enrich high managers pockets. Unfortunately, the US has created the perception that taxes are bad. And the ones who believe it are the ones who suffer the most and will forever live in poverty. Look at rural America. They are so easily persuaded.
The grand total of all revenue collected from corporate taxes *_before_* the tax cut was just 6%, so the overall revenue didn't drop much due to the corporate tax cut. They could have cut it to zero and only lost 6% of revenue (of course that's not what they did). Most revenue is generated from individual income taxes - and the vast majority of individuals got a break on their taxes. There are also a lot more individuals paying taxes so the individual savings are not going to be staggering numbers, but many people saw huge cuts. Particularly middle to lower income families with children. You say the "average" American did not benefit at all, and this is simply false. According to the 2020 U.S. census, the average household income was about $78,500 in 2020. Take the average family of 4 that takes the standard deduction (prior to the tax cuts, over 70% of taxpayers took the standard deduction).
Here is this family's tax return for 2017 (prior to the Trump tax cuts) :
Income : $78,500
Exemptions ($4,050 x 4) : $16,200
Standard Deduction : $12,700
Taxable Income : $49,600
2017 Tax : $6,508
Child Tax Credit ($1,000 x 2) : $2,000
2017 Tax Bill : $4,508.
This same family in 2020 :
Income : $78,500
Exemptions : N/A
Standard Deduction : $24,800
Taxable Income : $53,700
2020 Tax : $6,049
Child Tax Credit ($2,000 x 2) : $4,000
2020 Tax Bill : $2,049
This average American family saved almost $2,500. They saved 55% in taxes under Trump's plan. This is significant.
does this guy have blush on his face looking like Jack from Tropic Thunder
I’m not an NBC fan, but this segment was done very well.
Not a fan of non-gop centric news, but a fan of a pro-donald segment.. SHOCKER.
revenue right in line.
budget deficit at 5% GDP sits quietly in a corner
I thought the same thing! I have an economic theory that what is good for the short term is often bad in the long term. Our kids and grandkids will get the bill for this.
@@johnbailey3351 if we are talking tax cuts, I agree.
Real tax reform would have distinguished income earned by producing goods or providing services and income derived from passive income and speculation. Economics going back to Adam Smith consistently argued for the taxation of what are called "rents" (i.e., that portion of income derived from natural or artificial advantages). What would real income tax reform look like? First, all income regardless of source should be taxed under the same rate structure, which ought to be progressive in order to capture rent-derived income. We should exempt all individual income up to the national (or, for the states, the state) median income. Eliminate all other deductions or exemptions. Above the exempt level, impose an increasing rate of taxation on higher ranges of income. The tax system would then reward wages earned and shift the burden of taxation to incomes essentially unearned.
Edward J. Dodson, Director
School of Cooperative Individualism
www.cooperative-individualism.org
Yea sure the stock market is up but what about hourly wages?? Wages have gone up but so has inflation and from what I’ve seen inflation is rising faster than the wages or at least keeping up. If inflation is keeping up with rising wages then hourly workers are making the same amount of money year in and year out and if inflation is more than rising wages then people are losing money year in and year out.
I can't believe you have internet access as badly as you seem to have it...
You’re spot on. The stock market is not the real economy
CNBC are at their usual bull crap artists again. I remember they kept saying there will be no recession and there were no signs 2004-2007. Thank god I listen to my Financial Advisor pulled out my money 2 years before the crash.
You're blaming inflation on supply side?
Wages had grown fir eighteen consecutive months in excess of 3 percent and 54 percent for average household income since 2017 up till covid
"Laughter " just said large trade deficient is a good thing for Americans which is the opposite of what he said months ago lol. Manufacturing is almost DEAD so theres nothing to export which means its NOT GOOD for american citizens.
Who thinks bernie sanders had some influence in this?
The blue state . people make more money
Bullshit!