Good discussion.
1. The individual tax cuts are thru 2025 and expire. But the corp rates endure. So my issue is this is adding trillion dollar deficits for the foreseeable future growing to 1.7 trillion by 2035 and we got small tax cuts for 80% of the middle class averaging just over $1000/yr. That's ~$20/week on average for those that got a cut (which is the majority of course). That's a 50 cent per hour raise. It's something, but it's insignificant compared to the benefits at the top end of the income ladder imho. Is that worth trillion $ deficits? The value of the dollar is going down and I'm not really sure it's a big net win for most people. 50 cents/hour isn't going to help you afford better housing, college, or even keep pace with medical costs which are eating up more than that's adding for most.
2. Companies add jobs when there's demand for services and products they need to create/deliver more of. Just because you give them more money, they don't create jobs without demand. Putting money in people's hands who need to spend it drives 70% of the economy and increases demand which leads to job creation. Companies expanding stock buy backs and not raising wages is an indicator that they really didn't need the tax cuts or didn't have increased demand or need to hire. I'm a believer in trickle up, not trickle down and I think basics economics supports that. I agree with you in spirit here. We need more jobs and better paying jobs. But demand is the driver, not supply. Supply has to keep up with demand and that's why you hire typically.
3. I'm not a fan of either political party and see both as dangerous to our future. I do think we need smarter and younger people that understand technology and where the world is rapidly evolving. Most politicians seem clueless and are stuck in yesterday more than considering tomorrow. I think we've been ok for the last 4 years because while our prez had some extreme positions, he lacked in execution which made him tamer than he sounded like he'd be. On the flip side, the Dems are all over the place philosophically, but I think we'll be ok because Biden is more of a centrist than the majority of the dems.
During the last 4 years, the hope was that Trump wouldn't fudge things up too bad. I think we're in the same place now for the next 4 years, let's not fudge it up again. I really do think it's 2 1 termers back to back and Biden plays the role of Jimmy Carter for us. I think he's just there to heal the country and get people talking again after we've been divided a little too long during the last 2 presidencies.
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