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    ASSOCIATED PRESS SAYS: DON’T CUT TAXES!

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    sinister_midget
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    ASSOCIATED PRESS SAYS: DON’T CUT TAXES!

    Post  sinister_midget on Sat Sep 16, 2017 6:41 pm

    ASSOCIATED PRESS SAYS: DON’T CUT TAXES!

    Of course they do. But if one of the communists proposed it (a hypothetical, because we all know that wouldn't happen) the DNC-AP would sing the praises of it.

    The Associated Press is one of many “news” outlets that has gone into overt opposition, now that we have a Republican rather than a Democrat in the White House. Today’s AP “Top News” feature is headlined: Doubts arise on whether corporate tax cut would boost growth. The passive voice is generally a giveaway. Where, exactly, are doubts “arising”?

    Trump insists that slashing the corporate tax rate from 35 percent to as low as 15 percent would free up valuable cash. Companies would use the money to boost investment, increase employees’ pay, accelerate hiring and speed economic growth. What’s more, corporations that now keep trillions overseas to avoid U.S. taxes would bring the money home. American companies could better compete with rivals based in countries with lower tax rates.

    “We’re going to have magnificent growth,” Trump declared aboard Air Force One on Thursday. “We’re going to go like a rocket ship.”

    Would we? Many economists, tax experts and even some business owners say it’s unlikely. Rather than hire, companies might use much of their tax savings to buy back their stock or increase their dividends to investors. Many companies, they note, have already been able to borrow at historically low rates to expand their businesses yet have chosen not to.

    “The mainstream economic evidence is that the bulk of corporate tax cuts go exactly to whom you would expect — which is wealthy investors and executives,” said Chye-Ching Huang, deputy director of federal tax policy at the left-leaning Center on Budget and Policy Priorities.

    News flash for the AP: the “left-leaning Center on Budget and Policy Priorities” is in favor of higher taxes, all the time. Their doubts didn’t just “arise.”

    The AP acknowledges in passing that many economists agree with Trump, but goes on to make the case against tax cuts. It cites arguments in favor of corporate tax cuts, then goes to a series of liberals to rebut them: the “nonpartisan Tax Policy Center,” which is a joint venture of the liberal Urban Institute and the liberal Brookings Institution; “the left-leaning Institute on Taxation and Economic Policy;” and “Larry Summers, a Democratic former Treasury secretary.”

    The Democratic Party is, of course, entitled to oppose corporate tax cuts. But unlike the Republicans, the Democrats get to make their arguments in the guise of news stories promulgated by the “nonpartisan” Associated Press.


    _________________
    One of the most important reasons for studying history is that
    virtually every stupid idea that is in vogue today has been tried
    before and proved disastrous before, time and again.
    --  Thomas Sowell

      Current date/time is Thu Nov 23, 2017 11:32 pm