Comment by echelon
2 days ago
Should taxes increase while we're on the brink of recession?
Shouldn't we do austerity now, then tax increases during periods of prosperity?
Tax increases will trickle down and morph into unemployment, under-investment, and de-growth. Just look what ZIRP / Section 174 did to software engineers. Imagine that across the entire economy.
The power of the US economy is in its consumer base. People need to stay employed and see job/salary growth. That means companies need to spend more money on headcount and not cut costs.
If tax cuts don't trickle down, it is unlikely that tax increases will.
>Tax increases will trickle down
Piss trickles down, nothing else has trickled down since Reagan made that up.
Eggs were slightly up in price at the end of Biden's term, but the tariffs have done nothing except increase the price of everything by 10% across the board. The Trump bill just makes recession more likely. The tax cuts benefit nobody but companies and the most wealthy, which Trump used to pretend he was part of but now actually is.
> Piss trickles down, nothing else has trickled down since Reagan made that up.
When businesses face hardship, they lay off. That's demonstrable. Employees are a luxury.
When Section 174 tax code ended, that set off a tidal wave of layoffs. And that's not even a new tax -- that's just amortization. When real taxes are levied on businesses, it'll be a blood bath.
> tariffs have done nothing except increase the price of everything by 10% across the board.
You're preaching to the choir. I'm not a fan of the administration or the tariffs. For a party that purports to be fiscally conservative, they're doing the opposite.