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Originally Posted by Guest
The unemployment rate was 4.8 in January of 2017 and 4.1 in November of 2017. That's the lowest it's been in ten years.
How do companies make huge profits at the expense of our national debt? Do you understand that companies are taxed on their profits? If a company makes more money, the government gets more money.
The problem is not our companies being too successful. If anything the fact that they have been held back by high corporate taxes and excessive regulations have made them less profitable than they might have been. That means that the government received less money from them that they might have if they made more profits.
The problem is Congress always spends more money than it takes in. We have no law that limits the amount that they spend. the budget that is set forth at the beginning of the year is a joke. There is no law that says they must adhere to it. That is why we desperately need a balanced budget amendment to the Constitution.
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And apparently you don't grasp that all the economists that have reviewed this tax package say the huge tax cuts to the corporations and to the wealthy are adding to the debt. In simple terms, if a corporation makes a profit of $100 and pays 30% tax, the government will receive $30. If the corporation makes $125 in profit, and pays 20% tax, the government will receive $25.
Howard Schultz, executive chairman of Starbucks said: “If you talk about tax reform, which is in the news every minute of every day, this is not tax reform. This is fool’s gold.”