A large percent of that growth we preparing for Y2K which ended up being a non-event. Tech companies were getting rich off of upgrades. You also had loose revenue recognition standards creating the hardware bubble. That was going to end badly no matter what.
The biggest culprit was rewarded handsomely. Who is the creator of the Y2K issue?
MacOS didnāt have Y2K issue, and as such its market share shrunk even more during that period. It dawned on me, in business you want to create a deliberate fault to make more future profit. Fortunately the fruit company doesnāt employ such strategy.
Economists are mostly academics and lean far left. Itās why they say tax rate cuts decrease tax revenue even though its never happened that way. Itās why they carry the line of government budget issues are revenue problems. They never call it a spending problem.
Tax reform does not benefit its audience, itās only for the rich. Actually this tax reform is good for most of the middle class except the upper middle class in CA, NY, NJ
Tax reform is not good for economy. This one is hard to believe. When you lower corporate tax rate, US will attract more businesses and more job opportunities for the unemployed and underemployed. This reform is crucial for Trump since itāll bring job opportunity to his supporters in Midwest and other places. I guess they will work really hard to make it pass.
It does not bring tax cut for us in CA. But corporate tax cut and the rising stock market will stimulate economy and hopefully BA commanies can benefit a lot and will pay our people a lot more than the tax cut middle Americans get
Politicians are known for their dishonesty and their analysis is worth nothing. Econimists have their political beliefs and they represent the elite class anyway. Thereās a deep distrust towards politicians and academics alike. Most of the population only believe their common sense, thatās why well educated, well polished and experienced politicians fail to win elections
The companies effected have already said they wonāt reinvest. They donāt need the tax break already have too much moneyā¦What is the urgency. No tax change needed.
Economy is doing great
How do we know thatās true for most businesses? How do we know those CEOs really represent American business community? If they are 100% against Trump, they would say anything to discredit everything he does. If tax reform fails, we can blame his incompetence and blame he broke his campaign promises. If the tax reform is delivered, we can say itās useless and itās unfair
Hundreds of millionaires are asking to increase their tax. If you really raise millionaires tax, do you think most millionaires will be really happy about it?
Media is selectively reporting. Iām ok with them to say only bad things about Trump, but we need to be wise in order to get correct reading of the tax reformās real impact. Itās not election time, we can focus on real economic analysis and not political paint brushing
If we say 1000 bad things about Trump every day, does it improve our life?
I should have said republicans want smaller non-military government. Our defense spending is insane, but when you look at it in GDP terms itās actually been pretty flat.
Yes, military spending increased under Bush, but it was still lower than cold war spending.
Blaming military spending for the deficit is bad math. Itās the social program spending thatās skyrocketed as a percent of GDP.
Contrary to what Republicans would have you believe, super-high tax rates on rich people do not appear to hurt the economy or make people lazy: During the 1950s and early 1960s, the top bracket income tax rate was over 90%āand the economy, middle-class, and stock market boomed.
I say reduce spending first then tax reformā¦ As far as corporate tax, reduce it for specific deeds. If they repatriate
or build new plants or train and hire more Americansā¦ Nothing in the house plan does thatā¦
If we are really people with good heart, we should set tax rate at 100% for all income level and give everyone $10k stipend per year to live a modest life. Give all the excess money to the people under poverty in the whole world. Whatās your take, my fellow good guys?
Thereāll be no wars, no military spending, no borders, no congress and no president
After WW2, the US was the only developed country that wasnāt severely damaged. Our factories were literally the only ones left in the world. Our economy would have boomed no matter what.
The 90% rate only applied to the highest of incomes or about 10,000 households. So comparing that to 39.6% which applies to over 1M households. today isnāt even close to equivalent.
The 90% only applied to income. The capital gains tax was 25%. Most of the rich earn their money off investment gains, so theyād only pay the 25%.
Do you understand the difference between facts and opinions? Just because someoneās opinion agrees with yours doesnāt make your opinion a fact. 25% of people think the sun orbits the earth. Just because you can find some of those people to agree with you doesnāt make that a fact.
When the cost is low, we buy from China, when tax is low, companies will move into America.
Trump aim is Make America Great Again, he wonāt rest until he achieve his vision. He has long vision and he is making a big push on tax reform which was not there last 30 years.