Coco wrote:
Tax breaks helped companies start hiring again. That generates state, and federal tax, it gets workers off unemployment benefits, and instead contributes to those funds again. Consumers start buying things and stimulating other businesses... etc etc. Im sure you know how that works. My state has some of the highest taxes for business, so the breaks helped a lot. My state is also the worlds 5th largest economy, passing the UK, so it was a big deal. "YUGE"
Military spending. A lot of that is dependant on the GDP. The US is spending 3.2% of the GDP on what we call the military budget. Of that budget all VA costs including medical benefits for the VA MISSION ACT are included, State Dept is included, Homeland Security, FBI cybersecurity in the Dept of Justice, and part of the Department of Energy is included. Its not just for new tanks and weaponry as it may appear to be in name only.
Fines levied to corpoations would take years. It all seems reasonable and rational but would take quite a bit of time. What he did gave us a much needed shot in the arm to get us out of what seemed to be the worst recession I ever witnessed in my lifetime.
I am not debating, arguing, or even trying to change anyones mind. I am merely telling you a reason I feel President Trump has helped a lot of Americans and small businesses that were circling the drain. That has been part of my personal experience, and if things continue this way I plan to vote for him again with no hesitation.
Everyone has opinions, ideas and thoughts on it. Not everyone has been or will be affected in the same way that I have, and I will not be affected in the same ways other people have been. I hope for the best.
Coco, companies were hiring well before the tax break. The tax break resulted in record share buy backs, so much that Rubio wants to put a limit to it into law. Share buy backs favor shareholders, so those that are rich and have money to invest, down to those that have a 401K.
I looked into the data and could not see neither a jump nor an acceleration of hiring in the year after the tax break was enacted. The trend kept going. We can agree that it is no mean feat, but I question the effect of the tax break on hiring in general. I am sure small businesses leaned more towards investing and hiring, but the rest went for "value to the shareholder".
The hiring and the economy are progressing in line with what started during the Obama administration, and accelerated by the current administration (my opinion is that they are sacrificing the future for the near term, we will see).
As for the military spending, it is 3.1% (it includes VA) of the GDP, so the rest that you mention is 0.1%. And yes, you are correct: the military spending is far more than just weaponry as it includes logistics of all sort, training, healthcare, civilians, and the new Space Force.
And to be clear, I am not picking on you. I am positive you and your business benefited from the tax break and other changes in policy, and you are now doing better.
Still I don't see the entire country benefiting, not even on average. And the trickle down has been proved wrong twice already, and still the GOP went for it the third time: when will they learn their lesson? The result is squeezing even more the middle class.