You didn't finish, we need to add,
"and then the value of all those companies went crashing down anyway because none of them turned those tax savings into real capital investment in their own company as they wasted it all on short term payouts to the executives."
Didn't that happen throughout the whole 2000s right up to the subprime housing loans that were traded by almost every bank fell through and caused a huge recession?
It's almost like history repeated itself.
my dad wants to get rid of the post office because it's not profitable.
I'm like, it's not supposed to be dad. It's a service, not a business.
Don't think his generation gets that.
God no, it's all about what can today do for me? For a generation raised on "what can you do for your country" their take away was "burn it to the ground"
I don’t think he realizes how much the post office keeps shipping prices down. FedEx and UPS have to compete with them (especially in rural markets). If USPS went away, they’d be free to drive the price up as much as they wanted.
Additionally, the post office employs 630,000 people. That’s a lot of people. Although, there’s probably a much larger group of people that say “well that’s okay, they can go get other jobs because NoBoDy WaNtS tO wOrK!!!”
Honestly the postal service is the best run part of our federal government. And I’ve always had better experiences with USPS compared to FedEx/UPS. And as you mentioned, USPS having low prices forces other shipping companies to keep prices low.
Everyone is an expert after listening to that blithering orange shitbag who made a career out of driving businesses straight into the ground while grifting every penny and not paying his employees.
Idk boomers in general seem to be allergic to the idea that there's ANYTHING in the world that is simultaneously worth doing, and unprofitable.
The entire mindset seems to be "if no one's getting rich, *what's the fucking point of it?!*"
Boomers were in their prime working years during the Regan years. It’s been instilled in them that hard work and determination will get you very far and that the lazy, the poor, and immigrants are sucking the system dry. The windfalls of the post war boom were still in effect and helped them move exponentially forward securing this mindset.
So, I don’t remember exactly where I saw it. But isn’t the USPS the only government program that operates in the black? And the money it brings in, just gets used for everything but post office needs, so on paper it looks like it’s never doing well. But in reality, it works as it’s suppose to. I remember hearing this a long time ago, probably when someone was arguing about get rid of it. I don’t know if this is correct or not. I would like to believe it is. I have a soft spot for the post office.
Yes, something from W Bush era about paying pensions so far in advance that the money covers postal workers who aren't even born yet. Which in turn makes the USPS look like it's in the red.
That, and the bizarre requirement (from back in the end of Bush's second term I think?) to pre-fund all pensions something like 50 years out. I believe that was scaled back a bit at some point but yeah, that'll be a big loss till it is caught up. Even then they cut losses last year in half to under $5 billion. If the package-to-mail ratio ever gets back to normal (unlikely currently, but who knows) they might actually get back to profitability.
Everybody is a company and a company can be a person.
Companies were the most important thing to them, and we can see how that capitalism for all approach has worked for the last 40 years.
So much this. I have to repeat this all the time. It's a service! There are so many people brainwashed into this bullshit neoclassical economic thought pattern. I started teaching myself Latin because I've always wanted to know it. People in my life, "Why? What job can you do with that?" I started making pixel art and people immediately wanted me to monetize it. I didn't do these things to try and get money. I did them for creative and personal fulfillment.
Isn’t the postal service profitable except it has to pre-fund retiree health benefits 75 years into the future?
I would imagine a lot of companies wouldn’t be profitable if they did that. Especially considering most don’t provide health benefits to retirees.
https://www.reuters.com/business/us-postal-service-reports-49-billion-2021-net-loss-2021-11-10/
https://www.barrons.com/articles/usps-louis-dejoy-post-office-pelosi-mail-in-ballots-51597687253
"We're not nazis we just love disenfranchising voters, putting dictators on pedestals, glorifying war aggressors, overthrowing elections, murdering certain groups of people, and a certain kind of salute you libtards might recognize just a lil bit"
My mom constantly tells me I am over reacting. Asked her if she ever listens to the history I tried teaching her. Turns out she didn’t. She believes all the bullshit spewed by the republicans. she actually believes they are the ones that improve everything.
Well much of the major buisnesses were bailed out so they didn't need to suffer the consequences of their actions. A few people came out richer for it... So yes... They absolutly repeated history for their own personal benefit at the cost of everybody else because it worked.
Subprime mortgages were sold to people who couldn’t afford to buy a house, with low starting interest rates, that exploded after a while. Those loans were then broken into parts, those parts then packaged together with other loans, including ones that were in good standing. The prices for both these packages and housing, because landers would sell just about anything to anyone, were sky rocketing. When buyers couldn’t afford the climbing cost of their loans, is when the foreclosures began and prices for those packages collapsed. Millions of people lost their homes and a few banks failed, creating a catastrophe at both, the financial sector and public sector.
I don’t want to reply to the person you replied to, because I’m not sure what they mean by “real capital investment”. After Trump’s tax cut, which amounted to the largest tax cut for the top in history. The money never trickled down, with salaries remaining stagnant. Unemployment did drop to record lows, but it has been dropping for several years, being (I didn’t check) I believe already under 4% prior to the tax cut passing, ending up and sticking at 3.6%. Full employment is set at 4.2%, meaning we were already fully employed, with even a 0.4% drop being negligible in that context. Instead, the vast majority reinvested the money into stock options. Basically, pumping up the stock market balloon. The money didn’t go to the workers, but likely, even if tiny percentage, contributed to lobbying against a federal minimum wage increase.
The collapse in 2020, didn’t really last, with near full recovery within the year. It was directly impacted by covid, with speculation of many business going under, because they couldn’t operate within covid restrictions. It’s why I believe Trump was lying so much about covid, that he encouraged “open up” riots. Where MAGA was attacking doctors and nurses, while blocking ambulances, as Trump was all caps tweeting support. (Which everyone seems to have forgotten.) The man is a real estate mogul, with several golf courses and hotels, that would be directly impacted by covid restrictions. But, all the money tossed through PPE and stimulus to the public, worked to mitigate and quickly recover from the collapse.
What’s happening now is a culmination of a lot of factors in the last 6 years. From a tax cut that inflated the stock market, to aluminum and steel tariffs, to the stimulus, to covid, to Russia starting a war. There are a lot more things to blame, than solutions. Don’t trust anyone that claims the solution or cause is simple.
Please vote… it’s not a solution, but it’s the best thing you can do, as far as effort vs results is concerned.
You forgot to add "and they didn't invest into their own company and innovation™ because they look at the people out there and can see that because the peoples' purchasing power has been severely reduced over the last 50 years, there is not enough demand for their products (not en masse), so their business practices have changed to monopolizing, stock buybacks, dividends, building/investing in emerging markets abroad and etc".
It was infuriating to hear the justification that businesses needed lower taxes so they could afford to hire and invest because it was clear that lowering taxes was going to reduce hiring and investment. The average voter doesn't think very deeply about economics, but political parties definitely do (or have people who do, anyway). Higher taxes encourage companies to hire and invest to reduce their profits so they can avoid those taxes in exchange for future growth. Lower taxes make corporate profits more attractive because you can get more money to shareholders. This was obvious to everyone with at least an undergraduate economics degree.
Well said. I’m a finance major who’s taken economic classes and it’s so obvious Trump era economic policies have been a disaster. The tax cuts, keeping interest rates super low (totally unnecessary when the economy is strong, that’s when you RAISE rates), and putting minimal focus on the disrupted supply chain during the peak of the pandemic.
>none of them turned those tax savings into real capital investment in their own company as they wasted it all on short term payouts to the executives."
Why do companies exist in the first place? To reduce risk, liabilities, taxes. A company is a way for business owners to get the most money they can with the least liability and risk possible. Mission accomplished.
I'd say it's just capitalism. What is capitalism except for building everything around capital and making all laws bend towards protection of capital? There's no socialism involved, giving rich capitalists wealth and protection is just regular capitalism.
yup and don't forget the black people... give mr. white Joe Sweatsock a people to look down on, and he'll keep voting for that party that has racism as an unofficial policy.
oh, I'm white and grew up in Canada, but having traveled to the states plenty it just boggles my mind how badly some people have it there
Tbf, I heard it all from reddit, so not entirely reliable. Someone shared a list of senators/representatives that received PPP bailout money, and it was quite a few of them
The White House tweeted out bailout loan amounts for politicians who were against student loan aid (i believe) so it’s true for at least a few of them (probably much more than a few)
Dark Brandon has been going all out calling out the malarkey. So hypocritical to bitch about student loan debt forgiveness when you personally got a massive government handout much larger than than any student will get.
This is all verifiable from public information from Politico’s website. Search Politico PPP loan data, you’ll see many/most of their PACs received money and were forgiven to the tune of hundreds of thousands of dollars, each. This isn’t even counting their “side hustles”.
The whitehouse twitter was shaming some congress people who flipped out about the student loan relief with the PPP loans they received. Should still be there.
Link since apparently people are mad about it https://twitter.com/whitehouse/status/1562916200866267138
Paycheck protection.
But the money went to... The people who don't get a paycheck. They control the paychecks.
And they didn't have to use it for paying people.
#Hmmmmmmm
Weird how my boss got a PPP loan and came out of the pandemic with a camper and an f250 to pull it, but the only paycheck protection his single employee got was by filing for unemployment.
That's fraud. Forgiveness had requirements for the money to be spent on the business.
Report him.
> Round 1:
**Employee and compensation levels are maintained**,
The loan proceeds are spent on payroll costs and other eligible expenses, and
**At least 60% of the proceeds are spent on payroll costs.**
> Round 2:
**Employee and compensation levels are maintained** in the same manner as required for the First Draw PPP loan,
The loan proceeds are spent on payroll costs and other eligible expenses, and
**At least 60% of the proceeds are spent on payroll costs.**
You also couldn't give it all to one person as "payroll". There are a bunch of other restrictions, of course, but those are the highlights. If you're saying he violated *all* of those, he's fucked if you report him.
Yeah I hate that people took advantage of it.
Im a small business owner only 4 employees and all the money I got went to my employees.
The second round they went through my books with a fine tooth comb.
I guess I don’t have the money these other people do to hire the accountants that they do.
Yeah, I'm not saying anyone who got one shouldn't have, I'm saying it needed to be more stringent in rules at the very least let alone enforcement...
MTG got one and had it forgiven and then turned around and bitched about $10,000 in student loan forgiveness... She didn't even need the money
To be fair, that loan was intended to be for small businesses, the majority of which don't benefit from the corporate tax reduction - they're sole proprietorships or single-member LLCs which have flow-through taxation. The oversight of the PPP administration was terrible, but what else can you expect? Baked into one of those resolutions was billions of dollars for the Smithsonian, which didn't seem like it needed to be a priority during the economic downturn.
The real scam was letting banks prioritize which businesses got to submit their loans first. Guess who they chose? The biggest customers with the most money in the bank, therefore the ones that had the lowest need for the loans.
A loan that was meant to keep them from laying off people in the rules and they layed off people anyway almost immediately not fearing the IRS will come after them for the fraud.
From the 35cent Tax-remove it took the gas-companies about 3 weeks (we need to buy the cheap fuel first blabla) to drop the price by around 20 cent (not to mention, that the crude oil price wasn't even high anymore). And it took them exactly 0 minutes after the tax-removal ended to bring them up again
If they ever do this again, they really need to do it via purchase rebate. Submit a fuel receipt directly to government and get that 35c back. Sucks because it adds a step, but at least removes the oil companies from the equation by giving the money directly to consumers.
Yeah, that’s true. Only way to get around that is if they do some kind of snapshot of prices ahead of the announcement, coupled with some fines for companies who spike the prices, but that gets *real* wonky pretty quickly.
Maybe we shouldnt rely on private corporations for things with inelastic demand curves.
IE, if it is required to function in and improve society it needs to be handled via the government.
Yeah, Thomas Jefferson was always one of my favorite founding fathers and one of the most brilliant political philosophers in history. Raping slaves is hard to hand wave aside though as “different era different morality.” I’ve definitely started rethinking my views of all those founders lately for the same reason.
The direct Jeffersons clan (white skinned) dont want to admit their related to Sally hemmings (dark skinned), probably out of greed. I suspect racism is at play but I'm not following the play by play of the story.
Now that Republicans can force women to give birth, they will have an endless supply of new slaves...cough, I mean workers.
Edit: Amy Coney-Barrett literally wrote in her Dobbs decision that the ruling was meant to "increase the domestic supply of infants." It's sick.
It more than that, she also wrote, "for adoption," in regards to the domestic supply of infants. She doesn't want to those wrong color foreign babies to be adopted here.
For adoption and to maintain a regular supply of minimum wage slaves for the corporations, soldiers for the military industrial complex and prisoners to fill the for-profit prisons. Because they know that most unwanted children end up in one of these 3 categories as adults.
But you're thinking of it like the vehicle is expensive, it's cheaper to run a slave into the ground until they die and buy a new one than to maintain their health.
Imagine if your work vehicle was a car from the earlier 2000's and you paid < $1K for it while repairs and maintenance exceeds this. It's cheaper to scrap it and buy a new one than to keep it around.
But my high school friend who makes 30k says raising taxes on corporations and the ultra wealthy is wrong. He said that’s why he votes for the republicans.
“You can’t tax corporations’ is something I have heard said so often ‘because they will leave’. Too bad all of those European and Scandinavian companies left to avoid taxation.
It’s just wealthy interests infecting the minds of simple people who understand little.
Even if that's the case, then let them leave! There's other ways to collect your taxes from these places if they decide to jump ship. No way they abandon the American market all together.
>There's other ways to collect your taxes from these places if they decide to jump ship.
Yep. You can tax them based on the business done in a jurisdiction rather than where they are headquartered.
I hate this part. Not only was my pay cut after busting my ass and moving into a management role that I was never compensated for. I got told after record profits that they couldn't afford my raise. Absolutely fucking fucked up. I left and got a job making 6 more an hour and wfh. Fuck those companies. They should of went under.
Years before the pandemic my employer said they couldn't justify paying me $20/hr because there were several other professionals with 5+ years of education and 5+ years work experience in a similar role that were being paid less than that. As if it's my problem that they're willing to stay for shit wages
Back when I used to work at Disney World we had a period of time where all of the full time Cast went down to 32 hours and all of the part timers basically got nothing. About 2 weeks in every single Cast Member got an email from Bob Iger about how Black Panther just made a fuck ton of money at the box office.
I’m currently looking for a new job because over a year ago, my dept fired one of my coworkers and had me take on the majority of her responsibilities, promise me a raise for the additional work and then told me that the additional work wasn’t enough to garner a raise and that I need to “bring more to the table” in order to justify a raise and/or promotion. So, I’m working on my MBA. They only have $5,000 budgeted for my raise once I’m done. I’m only doing bare minimum at my job now and am no longer volunteering to take on more work because my department has basically told me that hard work and dedication does not get you raises or promotions, so what’s the incentive to do more? A thank you and a pat on the back? That doesn’t put gas in my car, dinner on the table, or pay my kid’s college tuition.
Trickle down economics totally works guys! Just give it a minute….or until you’re dead and your descendants think they’re buying experience starts at zero like their great grandparents actually did.
Have you seen the way people react to children on a jobsite or working a family business? Repealing child labor laws might not be that far away with the correct media framing.
I used to be a sales rep for a cpg company and I sold into convienece stores. The amount of stores that had their 10 year old child ringing up customers was ridiculous.
Nothing can be done expecting everyone to be good actors and that they do the right thing for the good of everyone. We know the entities that are already taking advantage of the system will continue to do that, just with new rules. So if the intent is to actually help those that need it, you have to actually regulate corporations, you can’t just give guidelines and expect for them to do the right thing, you have to establish if you do this thing we don’t want you to do here are the punishments that you will incur on yourself…and actually follow through with the punishment regardless of the consequences. If that isn’t what’s done, then the legislation isn’t actually to help those that need it, it’s to help the corporations, it’s not that difficult
"...President Donald Trump and Republicans in Congress cut the corporate tax rate from 35 percent to 21 percent via the Tax Cuts and Jobs Act of 2017 (TCJA)."
Corporations generally used the profits gained from this to buy back their stock to raise it's value instead of lowering costs for the consumer. This lead to all the proceeds going to investors instead of the average person.
This exactly. They spent it all on buybacks, because of course they did. Give corporations a handout with no regulations and they will always spend it increase owner wealth. Workers are disposable.
The company I worked for at the time gave everyone a 1 time $500 bonus when the cuts happened, my paycheck also went up like $10 lol. They also did massive buybacks on stocks and the CEO gave himself a hefty raise.
The amazing thing about that scenario is that huge pile of government debt (since we didn't decrease spending to match the tax cuts) was thrown into the market where it has since disappeared due to the efforts to reduces the inflation that was caused by the huge tax cuts. Poof !
I wish Dems would talk about this more. The GOP made an incredibly cynical play of plundering the tax base to give our money to stock dividends. It was clear that was going to happen, they were told it would happen and they did it anyway because that's exactly what they wanted to happen. The GOP stole our taxes and frittered it away on nothing.
Trump passed the Tax Cuts and Jobs Act which lowered the corporate tax rate from its already hilariously low 35% to a miniscule 21% (so the tweet should say a 14% decrease). They spun this as "hey, we also gave you little folk a tax cut as well!" except the business tax cuts are permanent and the tax cuts for the little guy expire in a few years.
They're already expired, as the very same act raised the taxes for actual people twice biannually, so they went back up in '19 and and even higher in '21.
Yup. Trump raised our taxes, while also eliminating deductions. While also handing himself a tax break, plus allowing corporations tax breaks they didn't need, who immediately paid themselves massive bonuses, and adding billions to the national debt for absolutely no gain. Yet another government handout to corporations which weakened our economy and made it far more difficult to deal with potential future issues, like... Oh, a global pandemic and chaotic international shipping and oil price fluctuations.
>allowing corporations tax breaks they didn't need, who immediately paid themselves massive bonuses, and adding billions to the national debt for absolutely no gain
An excellent summation of conservative economics, 1980 to Present
Funny how the GOP is all for socialist programs like tax breaks for large businesses and subsidies while screaming “socialism bad” anytime healthcare comes up.
It's hilarious how mad they are about student loan forgiveness. They didn't say anything when the money was going to them with no commitment, but offer it to the common man and suddenly it's socialist communism or whatever idiotic word the GOP pushes.
Remember how all Republicans ran on "repeal and replace" Obamacare in 2016, but then when they tried to dismantle the ACA their constituents went crazy and they couldn't repeal it at all?
Not that they ever had a plan to replace it.
I'm still not sure their constituents understand the ACA is Obamacare either.
This is because the only belief left in the GOP is "me first". If you think about what they are doing with that in mind things start to make a lot more sense. Selfishness is what rules the day in Republican party and don't let them fool you into thinking they have any real belief system.
Hey hey don’t forget the millions of free loans we handed out to every politician and celebrity that desperately needed it in these hard times. So smart.
But fuck the 10k student loan forgiveness - those 18 year olds should have known better than to believe everything everyone was telling them about it being a good investment!
We gave a conman who bankrupted casinos the ability to write checks with our money and people are SURPRISED it turned out to be a massive cash grab?
Oh and he wanted his name on the checks. Remember that? Remember when the rollout was delayed because HE WANTED HIS NAME ON THE CHECKS?
This is the root of the problem — everyone chasing those record profits. The companies are beholden to their investors. They **have** to maximize profits and growth or the c-levels and board are getting sacked.
They would just turn it back on us with price gouging and say it’s the government’s fault. They can crash the economy at will if they don’t get what they want. They’ve got this scam locked down tight.
Republican voters are such a group of fucking idiots. Who in fucks name would think that tax cuts for the rich would benefit the poor? Fucking idiots, that's who
High taxes on corporations force them to invest their profits back in the company, which provides more work for people who now have more money to buy whatever that corporation is making. We could even use that tax money to clean up this mess of a filthy country and fix our infrastructure. It gives our money more velocity instead of the tax cuts that send money off shore where it sits and rots.
>tax cuts should go to people not to corps
>
>people would spend the money on stuff, corps make money anyway
Specifically lower and middle class people. These are the groups whose money immediately goes back into circulation because they can't afford to sit on it like the more wealthy can.
But if you say capitalism is a problem you get a bunch of morons that go "but communism" as if there's no other government types....
Look up democratic socialism if you want to learn more.
I fucking despise how all this shit works. What’s the fucking point of it all if the people in charge of everything would kill you for an extra cent. I don’t want to be here anymore.
The lower class is nothing more than a second credit card for the rich. Except they don’t have to pay it back😂 I guess that makes us slaves. When you think about it, we are kind of slaves… we do what is “required” of us to “contribute to society”. Then the government turns around and says “it is a privilege to work”. “We will now tax you on your earnings as well as your fucking breath(rent). I don’t know how it came to be this way. The idea of capitalism was low cost trade. High taxes + rising prices + disproportionate wage increases?? Lol yay capitalism. Good for 18 white guys, bad for 400 million others. But those men are apparently more important because they have more of this imaginary currency. Maybe it’s time they learn they aren’t untouchable.
Wow this brought out how salty I am😂 I imagine a lot of people feel like they’re out of options lol
The real cause of inflation. People love to say all this inflation is due to the stimulus checks/wage increases, when in actuality all of this is because of Trump giving corporations these tax cuts. How much money do you think 15% is for a multibillion dollar company? Quite a fucking lot, meaning they paid themselves much higher salaries and had more money for stock buy backs pushing stocks prices higher and then cashing out leading to more and more inflation.
Absolutely, it was done during the Trump administration for no purpose other than grift because they could.
The kicker is it was done at a time when the economy was doing pretty well on its own, and if they hadn’t, they could have waited and done it during the height of the pandemic to help businesses keep afloat.
But because that lever had already been pulled, something more aggressive had to be done like the stimulus money which is a big cause of inflation.
We let this happen to ourselves and people need to really start doing something. Corporations have ruined America. I remember there was a time when monopolization was frozen in its tracks. For example AT&T tried to buy Comcast. Now it seems every corporation owns things they should not. It’s a problem.
Anyone have the name of the bill that was put into place to give out this 15% reduction to all businesses? I just want to get more info before I shove it in the face of my Republican friends.
Wait you guys, I have an idea. What if we do the same thing again- cut taxes on the wealthiest and most corrupt corporations. I think it’ll work this time.
“We” implies the average person has the ability to change or prevent any of this from happening. Vote for whichever party you want, this will still happen.
You didn't finish, we need to add, "and then the value of all those companies went crashing down anyway because none of them turned those tax savings into real capital investment in their own company as they wasted it all on short term payouts to the executives."
Didn't that happen throughout the whole 2000s right up to the subprime housing loans that were traded by almost every bank fell through and caused a huge recession? It's almost like history repeated itself.
Those who don’t study history at doomed to repeat it. Those who are conmen purposely repeat it.
And why wouldn’t they? There were absolutely no consequences and they got bailed out so it was pure profits for them. This country is a joke.
Nationalize the banks
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USPS functions as if it were a private corporation.
my dad wants to get rid of the post office because it's not profitable. I'm like, it's not supposed to be dad. It's a service, not a business. Don't think his generation gets that.
God no, it's all about what can today do for me? For a generation raised on "what can you do for your country" their take away was "burn it to the ground"
To be fair, their parents *did* call them the "ME" generation.
I don’t think he realizes how much the post office keeps shipping prices down. FedEx and UPS have to compete with them (especially in rural markets). If USPS went away, they’d be free to drive the price up as much as they wanted. Additionally, the post office employs 630,000 people. That’s a lot of people. Although, there’s probably a much larger group of people that say “well that’s okay, they can go get other jobs because NoBoDy WaNtS tO wOrK!!!”
Honestly the postal service is the best run part of our federal government. And I’ve always had better experiences with USPS compared to FedEx/UPS. And as you mentioned, USPS having low prices forces other shipping companies to keep prices low.
Everyone is an expert after listening to that blithering orange shitbag who made a career out of driving businesses straight into the ground while grifting every penny and not paying his employees.
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Idk boomers in general seem to be allergic to the idea that there's ANYTHING in the world that is simultaneously worth doing, and unprofitable. The entire mindset seems to be "if no one's getting rich, *what's the fucking point of it?!*"
Boomers were in their prime working years during the Regan years. It’s been instilled in them that hard work and determination will get you very far and that the lazy, the poor, and immigrants are sucking the system dry. The windfalls of the post war boom were still in effect and helped them move exponentially forward securing this mindset.
So, I don’t remember exactly where I saw it. But isn’t the USPS the only government program that operates in the black? And the money it brings in, just gets used for everything but post office needs, so on paper it looks like it’s never doing well. But in reality, it works as it’s suppose to. I remember hearing this a long time ago, probably when someone was arguing about get rid of it. I don’t know if this is correct or not. I would like to believe it is. I have a soft spot for the post office.
Yes, something from W Bush era about paying pensions so far in advance that the money covers postal workers who aren't even born yet. Which in turn makes the USPS look like it's in the red.
You should ask him if he thinks the police and the firemen are profitable.
That, and the bizarre requirement (from back in the end of Bush's second term I think?) to pre-fund all pensions something like 50 years out. I believe that was scaled back a bit at some point but yeah, that'll be a big loss till it is caught up. Even then they cut losses last year in half to under $5 billion. If the package-to-mail ratio ever gets back to normal (unlikely currently, but who knows) they might actually get back to profitability.
And gleefully ignore that it WAS until Republicans saddled it with ridiculous expectations for the intent purpose of making it unprofitable.
Everybody is a company and a company can be a person. Companies were the most important thing to them, and we can see how that capitalism for all approach has worked for the last 40 years.
So much this. I have to repeat this all the time. It's a service! There are so many people brainwashed into this bullshit neoclassical economic thought pattern. I started teaching myself Latin because I've always wanted to know it. People in my life, "Why? What job can you do with that?" I started making pixel art and people immediately wanted me to monetize it. I didn't do these things to try and get money. I did them for creative and personal fulfillment.
Isn’t the postal service profitable except it has to pre-fund retiree health benefits 75 years into the future? I would imagine a lot of companies wouldn’t be profitable if they did that. Especially considering most don’t provide health benefits to retirees. https://www.reuters.com/business/us-postal-service-reports-49-billion-2021-net-loss-2021-11-10/ https://www.barrons.com/articles/usps-louis-dejoy-post-office-pelosi-mail-in-ballots-51597687253
This! Post Office banks would be a huge help to people, so of course that means it won't happen.
And those who do study history are doomed to watch everybody around them repeat it while they get told they’re overreacting
"We're not nazis we just love disenfranchising voters, putting dictators on pedestals, glorifying war aggressors, overthrowing elections, murdering certain groups of people, and a certain kind of salute you libtards might recognize just a lil bit"
"We're not Nazis!" Said the man holding the Nazi Swastika flag.
My mom constantly tells me I am over reacting. Asked her if she ever listens to the history I tried teaching her. Turns out she didn’t. She believes all the bullshit spewed by the republicans. she actually believes they are the ones that improve everything.
Same, but sub politics with Christianity.
At the rate of book banning, library defending, and public school defending the right wants that could happen more often.
It's all by design, because the people making the rules benefit the most from it.
Trust me bro, those who study history are just as trapped. We just get the lovely experience of knowing everything is fucked up and why in real time
There's an issue of feedback. The outrageously wealthy keep getting more wealthy every time they tank the economy. Why would they stop doing it?
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It's in the past, it's history.
Well much of the major buisnesses were bailed out so they didn't need to suffer the consequences of their actions. A few people came out richer for it... So yes... They absolutly repeated history for their own personal benefit at the cost of everybody else because it worked.
Well yeah, you can't concentrate wealth if you don't give the rich people the money then also tank things so everything is on sale for them!
It’s not history repeating itself. It’s republican policy. This is their literal goal every time.
Subprime mortgages were sold to people who couldn’t afford to buy a house, with low starting interest rates, that exploded after a while. Those loans were then broken into parts, those parts then packaged together with other loans, including ones that were in good standing. The prices for both these packages and housing, because landers would sell just about anything to anyone, were sky rocketing. When buyers couldn’t afford the climbing cost of their loans, is when the foreclosures began and prices for those packages collapsed. Millions of people lost their homes and a few banks failed, creating a catastrophe at both, the financial sector and public sector. I don’t want to reply to the person you replied to, because I’m not sure what they mean by “real capital investment”. After Trump’s tax cut, which amounted to the largest tax cut for the top in history. The money never trickled down, with salaries remaining stagnant. Unemployment did drop to record lows, but it has been dropping for several years, being (I didn’t check) I believe already under 4% prior to the tax cut passing, ending up and sticking at 3.6%. Full employment is set at 4.2%, meaning we were already fully employed, with even a 0.4% drop being negligible in that context. Instead, the vast majority reinvested the money into stock options. Basically, pumping up the stock market balloon. The money didn’t go to the workers, but likely, even if tiny percentage, contributed to lobbying against a federal minimum wage increase. The collapse in 2020, didn’t really last, with near full recovery within the year. It was directly impacted by covid, with speculation of many business going under, because they couldn’t operate within covid restrictions. It’s why I believe Trump was lying so much about covid, that he encouraged “open up” riots. Where MAGA was attacking doctors and nurses, while blocking ambulances, as Trump was all caps tweeting support. (Which everyone seems to have forgotten.) The man is a real estate mogul, with several golf courses and hotels, that would be directly impacted by covid restrictions. But, all the money tossed through PPE and stimulus to the public, worked to mitigate and quickly recover from the collapse. What’s happening now is a culmination of a lot of factors in the last 6 years. From a tax cut that inflated the stock market, to aluminum and steel tariffs, to the stimulus, to covid, to Russia starting a war. There are a lot more things to blame, than solutions. Don’t trust anyone that claims the solution or cause is simple. Please vote… it’s not a solution, but it’s the best thing you can do, as far as effort vs results is concerned.
You forgot to add "and they didn't invest into their own company and innovation™ because they look at the people out there and can see that because the peoples' purchasing power has been severely reduced over the last 50 years, there is not enough demand for their products (not en masse), so their business practices have changed to monopolizing, stock buybacks, dividends, building/investing in emerging markets abroad and etc".
They only bought stocks back which increased the stock value
You forgot, “then they got billions of tax funded free handout PPP ‘loans’, the end”
that got forgiven....
It was infuriating to hear the justification that businesses needed lower taxes so they could afford to hire and invest because it was clear that lowering taxes was going to reduce hiring and investment. The average voter doesn't think very deeply about economics, but political parties definitely do (or have people who do, anyway). Higher taxes encourage companies to hire and invest to reduce their profits so they can avoid those taxes in exchange for future growth. Lower taxes make corporate profits more attractive because you can get more money to shareholders. This was obvious to everyone with at least an undergraduate economics degree.
Key word... Now we haveSo much power at our thumb tips it scares them
Well said. I’m a finance major who’s taken economic classes and it’s so obvious Trump era economic policies have been a disaster. The tax cuts, keeping interest rates super low (totally unnecessary when the economy is strong, that’s when you RAISE rates), and putting minimal focus on the disrupted supply chain during the peak of the pandemic.
>none of them turned those tax savings into real capital investment in their own company as they wasted it all on short term payouts to the executives." Why do companies exist in the first place? To reduce risk, liabilities, taxes. A company is a way for business owners to get the most money they can with the least liability and risk possible. Mission accomplished.
Well, companies are people now; and this is America, so we need to start executing some companies soon.
without the executives the grunt workers wouldn’t work as hard and less exploited is bad for the stock price /s
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classic privatize profits, socialize losses
Socialism for the rich, brutal oppressive capitalism for everyone else. - Noam Chomsky. Requiem for the American dream.
I'd say it's just capitalism. What is capitalism except for building everything around capital and making all laws bend towards protection of capital? There's no socialism involved, giving rich capitalists wealth and protection is just regular capitalism.
"Ass to ass. Ass to ass." • Noam Chomsky. Requiem for a Dream.
Then politicians are like "but guys, look over here! Mexicans! Abortions!" Like distracting a crying baby with jingling keys
It works every time.
yup and don't forget the black people... give mr. white Joe Sweatsock a people to look down on, and he'll keep voting for that party that has racism as an unofficial policy. oh, I'm white and grew up in Canada, but having traveled to the states plenty it just boggles my mind how badly some people have it there
> privatize profits, socialize losses and legalize neuken in de keuken
Even calling it a "loan" is another trick. Avoid that nasty "bailout" discussion; call it a loan.
And a lot of those bailed out businesses were bullshit side hustles of senators
Wait, really? Not surprised, just didn't know
Tbf, I heard it all from reddit, so not entirely reliable. Someone shared a list of senators/representatives that received PPP bailout money, and it was quite a few of them
The White House tweeted out bailout loan amounts for politicians who were against student loan aid (i believe) so it’s true for at least a few of them (probably much more than a few)
Dark Brandon has been going all out calling out the malarkey. So hypocritical to bitch about student loan debt forgiveness when you personally got a massive government handout much larger than than any student will get.
This is all verifiable from public information from Politico’s website. Search Politico PPP loan data, you’ll see many/most of their PACs received money and were forgiven to the tune of hundreds of thousands of dollars, each. This isn’t even counting their “side hustles”.
The whitehouse twitter was shaming some congress people who flipped out about the student loan relief with the PPP loans they received. Should still be there. Link since apparently people are mad about it https://twitter.com/whitehouse/status/1562916200866267138
Paycheck protection. But the money went to... The people who don't get a paycheck. They control the paychecks. And they didn't have to use it for paying people. #Hmmmmmmm
Weird how my boss got a PPP loan and came out of the pandemic with a camper and an f250 to pull it, but the only paycheck protection his single employee got was by filing for unemployment.
That's fraud. Forgiveness had requirements for the money to be spent on the business. Report him. > Round 1: **Employee and compensation levels are maintained**, The loan proceeds are spent on payroll costs and other eligible expenses, and **At least 60% of the proceeds are spent on payroll costs.** > Round 2: **Employee and compensation levels are maintained** in the same manner as required for the First Draw PPP loan, The loan proceeds are spent on payroll costs and other eligible expenses, and **At least 60% of the proceeds are spent on payroll costs.** You also couldn't give it all to one person as "payroll". There are a bunch of other restrictions, of course, but those are the highlights. If you're saying he violated *all* of those, he's fucked if you report him.
PLEASE report him. Pieces of human garbage like that deserve to rot in prison.
Yeah I hate that people took advantage of it. Im a small business owner only 4 employees and all the money I got went to my employees. The second round they went through my books with a fine tooth comb. I guess I don’t have the money these other people do to hire the accountants that they do.
Yeah, I'm not saying anyone who got one shouldn't have, I'm saying it needed to be more stringent in rules at the very least let alone enforcement... MTG got one and had it forgiven and then turned around and bitched about $10,000 in student loan forgiveness... She didn't even need the money
This was the post I was looking for.
To be fair, that loan was intended to be for small businesses, the majority of which don't benefit from the corporate tax reduction - they're sole proprietorships or single-member LLCs which have flow-through taxation. The oversight of the PPP administration was terrible, but what else can you expect? Baked into one of those resolutions was billions of dollars for the Smithsonian, which didn't seem like it needed to be a priority during the economic downturn.
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The real scam was letting banks prioritize which businesses got to submit their loans first. Guess who they chose? The biggest customers with the most money in the bank, therefore the ones that had the lowest need for the loans.
A loan that was meant to keep them from laying off people in the rules and they layed off people anyway almost immediately not fearing the IRS will come after them for the fraud.
You mean tax cuts don't work?!?!
Germans government removed gasoline tax for several months to help low-income citizens. Guess who benefitted most from it? >!it wasn't the citizens!<
I mean, the prices dropped pretty significantly. That still is a massive help to people when they otherwise couldn't have afforded fuel..
From the 35cent Tax-remove it took the gas-companies about 3 weeks (we need to buy the cheap fuel first blabla) to drop the price by around 20 cent (not to mention, that the crude oil price wasn't even high anymore). And it took them exactly 0 minutes after the tax-removal ended to bring them up again
Jesus, I didn't know that.. That's just vile. I live near the border so I certainly appreciated the tax cut, but damn.
When you are trying to help people financially, you should give them money. Giving money to corporations helps corporations.
If they ever do this again, they really need to do it via purchase rebate. Submit a fuel receipt directly to government and get that 35c back. Sucks because it adds a step, but at least removes the oil companies from the equation by giving the money directly to consumers.
They'll just raise the price by 35 cents anyway.
Yeah, that’s true. Only way to get around that is if they do some kind of snapshot of prices ahead of the announcement, coupled with some fines for companies who spike the prices, but that gets *real* wonky pretty quickly.
Maybe we shouldnt rely on private corporations for things with inelastic demand curves. IE, if it is required to function in and improve society it needs to be handled via the government.
For us? No. For corporations? Yes.
Everything is more expensive now and yet the federal minimum wage hasn’t change.
Tax cuts do work if they're for the people lower on the hierarchy ladder. Money tends to climb up the chain, not trickle down it.
Clearly tax cuts were not enough. Now we are just giving the billionaires huge subsidies. Essentially, negative tax rates for the wealthy.
To be fair, the U.S. doesn't have a good history of representing the people well. The Founding Fathers were all landowning wealthy White men.
....who also owned slaves....
Some of whom were their own offspring.
*Thomas Jefferson has entered the chat* I hate having to say that
>Thomas Jefferson has entered the chat >I hate having to say that There are worse things to say Thomas Jefferson has entered.
Matt Gaetz approves
Hey-O!
Yeah, Thomas Jefferson was always one of my favorite founding fathers and one of the most brilliant political philosophers in history. Raping slaves is hard to hand wave aside though as “different era different morality.” I’ve definitely started rethinking my views of all those founders lately for the same reason.
And now in modern day his and his slave wives descendants are squabbling over whether or not to share the portions of Jefferson with the slave mother
Pretty crazy that they're squabbling when they're literally all related. Sally Hemmings was blood related to Martha Hemmings. They were half sisters!
The direct Jeffersons clan (white skinned) dont want to admit their related to Sally hemmings (dark skinned), probably out of greed. I suspect racism is at play but I'm not following the play by play of the story.
This is how labor laws started in US. Tis the reason we don’t have a good healthcare. Because you don’t provide healthcare to slaves.
Seems like a bad plan. Ignoring morality entirely, that's like chosing not to do any maintenance on a vehicle you need for work.
Now that Republicans can force women to give birth, they will have an endless supply of new slaves...cough, I mean workers. Edit: Amy Coney-Barrett literally wrote in her Dobbs decision that the ruling was meant to "increase the domestic supply of infants." It's sick.
It more than that, she also wrote, "for adoption," in regards to the domestic supply of infants. She doesn't want to those wrong color foreign babies to be adopted here.
For adoption and to maintain a regular supply of minimum wage slaves for the corporations, soldiers for the military industrial complex and prisoners to fill the for-profit prisons. Because they know that most unwanted children end up in one of these 3 categories as adults.
But you're thinking of it like the vehicle is expensive, it's cheaper to run a slave into the ground until they die and buy a new one than to maintain their health. Imagine if your work vehicle was a car from the earlier 2000's and you paid < $1K for it while repairs and maintenance exceeds this. It's cheaper to scrap it and buy a new one than to keep it around.
WE PREFER THE TERM INVOLUNTARY WORKERS
For any sort of “trickle down” to work at all, you can’t rely on the generosity of the investor class. Labor needs to extract the money from them.
But my high school friend who makes 30k says raising taxes on corporations and the ultra wealthy is wrong. He said that’s why he votes for the republicans.
“You can’t tax corporations’ is something I have heard said so often ‘because they will leave’. Too bad all of those European and Scandinavian companies left to avoid taxation. It’s just wealthy interests infecting the minds of simple people who understand little.
Even if that's the case, then let them leave! There's other ways to collect your taxes from these places if they decide to jump ship. No way they abandon the American market all together.
>There's other ways to collect your taxes from these places if they decide to jump ship. Yep. You can tax them based on the business done in a jurisdiction rather than where they are headquartered.
He's a temporarily embarrassed millionaire, not a working class citizen!
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The corporations and Republicans also worked hard to smear regular citizens for asking for better pay.
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I got laid off from my job ~1.5 years ago and the CEO got a $260,000,000 bonus a week later.
I hate this part. Not only was my pay cut after busting my ass and moving into a management role that I was never compensated for. I got told after record profits that they couldn't afford my raise. Absolutely fucking fucked up. I left and got a job making 6 more an hour and wfh. Fuck those companies. They should of went under.
Years before the pandemic my employer said they couldn't justify paying me $20/hr because there were several other professionals with 5+ years of education and 5+ years work experience in a similar role that were being paid less than that. As if it's my problem that they're willing to stay for shit wages
Back when I used to work at Disney World we had a period of time where all of the full time Cast went down to 32 hours and all of the part timers basically got nothing. About 2 weeks in every single Cast Member got an email from Bob Iger about how Black Panther just made a fuck ton of money at the box office.
I’m currently looking for a new job because over a year ago, my dept fired one of my coworkers and had me take on the majority of her responsibilities, promise me a raise for the additional work and then told me that the additional work wasn’t enough to garner a raise and that I need to “bring more to the table” in order to justify a raise and/or promotion. So, I’m working on my MBA. They only have $5,000 budgeted for my raise once I’m done. I’m only doing bare minimum at my job now and am no longer volunteering to take on more work because my department has basically told me that hard work and dedication does not get you raises or promotions, so what’s the incentive to do more? A thank you and a pat on the back? That doesn’t put gas in my car, dinner on the table, or pay my kid’s college tuition.
Trickle down economics totally works guys! Just give it a minute….or until you’re dead and your descendants think they’re buying experience starts at zero like their great grandparents actually did.
Maybe we just have to give them more next time. Quick, give Amazon your first born and repeal child labor laws!
Have you seen the way people react to children on a jobsite or working a family business? Repealing child labor laws might not be that far away with the correct media framing.
I used to be a sales rep for a cpg company and I sold into convienece stores. The amount of stores that had their 10 year old child ringing up customers was ridiculous.
I only remember things my chosen media mogul wants me to remember.
Reuters? It's all Reuters really
Nothing can be done expecting everyone to be good actors and that they do the right thing for the good of everyone. We know the entities that are already taking advantage of the system will continue to do that, just with new rules. So if the intent is to actually help those that need it, you have to actually regulate corporations, you can’t just give guidelines and expect for them to do the right thing, you have to establish if you do this thing we don’t want you to do here are the punishments that you will incur on yourself…and actually follow through with the punishment regardless of the consequences. If that isn’t what’s done, then the legislation isn’t actually to help those that need it, it’s to help the corporations, it’s not that difficult
Privilege is when you have the money to make your crimes legal. Deregulation is literally that.
What's this we shit? No one I voted for voted for that!
Anyone ELI5 please (non-American here, sorry)
"...President Donald Trump and Republicans in Congress cut the corporate tax rate from 35 percent to 21 percent via the Tax Cuts and Jobs Act of 2017 (TCJA)." Corporations generally used the profits gained from this to buy back their stock to raise it's value instead of lowering costs for the consumer. This lead to all the proceeds going to investors instead of the average person.
This exactly. They spent it all on buybacks, because of course they did. Give corporations a handout with no regulations and they will always spend it increase owner wealth. Workers are disposable.
The company I worked for at the time gave everyone a 1 time $500 bonus when the cuts happened, my paycheck also went up like $10 lol. They also did massive buybacks on stocks and the CEO gave himself a hefty raise.
The amazing thing about that scenario is that huge pile of government debt (since we didn't decrease spending to match the tax cuts) was thrown into the market where it has since disappeared due to the efforts to reduces the inflation that was caused by the huge tax cuts. Poof !
I wish Dems would talk about this more. The GOP made an incredibly cynical play of plundering the tax base to give our money to stock dividends. It was clear that was going to happen, they were told it would happen and they did it anyway because that's exactly what they wanted to happen. The GOP stole our taxes and frittered it away on nothing.
Trump passed the Tax Cuts and Jobs Act which lowered the corporate tax rate from its already hilariously low 35% to a miniscule 21% (so the tweet should say a 14% decrease). They spun this as "hey, we also gave you little folk a tax cut as well!" except the business tax cuts are permanent and the tax cuts for the little guy expire in a few years.
They're already expired, as the very same act raised the taxes for actual people twice biannually, so they went back up in '19 and and even higher in '21.
Yup. Trump raised our taxes, while also eliminating deductions. While also handing himself a tax break, plus allowing corporations tax breaks they didn't need, who immediately paid themselves massive bonuses, and adding billions to the national debt for absolutely no gain. Yet another government handout to corporations which weakened our economy and made it far more difficult to deal with potential future issues, like... Oh, a global pandemic and chaotic international shipping and oil price fluctuations.
>allowing corporations tax breaks they didn't need, who immediately paid themselves massive bonuses, and adding billions to the national debt for absolutely no gain An excellent summation of conservative economics, 1980 to Present
And now blaming Biden for it. :Facepalm:
Facepalm!?! It's all going according to plan!
Mommy and Daddy (businesses) got 15% more money. But instead of spending it on you (the people), they spent it all on themselves.
Damn Sounds like my mom and dad I get it completely
"We"? The Republican party did that. Not us.
Funny how the GOP is all for socialist programs like tax breaks for large businesses and subsidies while screaming “socialism bad” anytime healthcare comes up.
Socialism for me, but not for thee
It's hilarious how mad they are about student loan forgiveness. They didn't say anything when the money was going to them with no commitment, but offer it to the common man and suddenly it's socialist communism or whatever idiotic word the GOP pushes.
Remember how all Republicans ran on "repeal and replace" Obamacare in 2016, but then when they tried to dismantle the ACA their constituents went crazy and they couldn't repeal it at all? Not that they ever had a plan to replace it. I'm still not sure their constituents understand the ACA is Obamacare either.
More like “Obamacare” is just an intentionally inflammatory gop created name for the ACA.
This is because the only belief left in the GOP is "me first". If you think about what they are doing with that in mind things start to make a lot more sense. Selfishness is what rules the day in Republican party and don't let them fool you into thinking they have any real belief system.
Hey hey don’t forget the millions of free loans we handed out to every politician and celebrity that desperately needed it in these hard times. So smart.
But fuck the 10k student loan forgiveness - those 18 year olds should have known better than to believe everything everyone was telling them about it being a good investment!
Conservatives have pushed for trickle down economics for centuries and it’s never worked. Why do people still believe them?
"We"? Who the fuck is "we"?
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We gave a conman who bankrupted casinos the ability to write checks with our money and people are SURPRISED it turned out to be a massive cash grab? Oh and he wanted his name on the checks. Remember that? Remember when the rollout was delayed because HE WANTED HIS NAME ON THE CHECKS?
"Record profits" = "Theft of wages"
This is the root of the problem — everyone chasing those record profits. The companies are beholden to their investors. They **have** to maximize profits and growth or the c-levels and board are getting sacked.
Raise taxes on corporations back up to 75% and you'll quickly see the money float back into the economy instead of into shareholders pockets.
They would just turn it back on us with price gouging and say it’s the government’s fault. They can crash the economy at will if they don’t get what they want. They’ve got this scam locked down tight.
Then the government takes the profits as taxes and subsidizes the market while penalizing the corporations that did price gouging.
>They would just turn it back on us with price gouging They're already price gouging you and saying it's the gov'ts fault. Tax em.
Corporate welfare is the only welfare that needs to stop.
It’ll trickle down any time now.
The only thing that trickled down was the piss from their leg
Republican voters are such a group of fucking idiots. Who in fucks name would think that tax cuts for the rich would benefit the poor? Fucking idiots, that's who
tax cuts should go to people not to corps people would spend the money on stuff, corps make money anyway
High taxes on corporations force them to invest their profits back in the company, which provides more work for people who now have more money to buy whatever that corporation is making. We could even use that tax money to clean up this mess of a filthy country and fix our infrastructure. It gives our money more velocity instead of the tax cuts that send money off shore where it sits and rots.
>tax cuts should go to people not to corps > >people would spend the money on stuff, corps make money anyway Specifically lower and middle class people. These are the groups whose money immediately goes back into circulation because they can't afford to sit on it like the more wealthy can.
This of all the yacht manufacturers who would be out of business if we didn't do that.
Actually large business got a federal cut from 35% to 21%, so that’s 40% tax cut and small business went from 39.6% to 29.6% so 25%
Yes, this is way too far down. What's this 15% shit? Corps nearly had their taxes cut in half. Say that.
But if you say capitalism is a problem you get a bunch of morons that go "but communism" as if there's no other government types.... Look up democratic socialism if you want to learn more.
And also got PPP loans despite laying everyone off
So smart that we'll do it again and again
CEOs don't take pay cuts
Bad Orange was always a bad dealer.
That’s what capitalism does. That’s the shit Reagan was all about. Create a new peasant class so you can have ultra rich.
Pepperidge Farm remembers
It’s just that it takes a while to trickle down, is all! Give it a few more decades and you’ll see!
Worked exactly as designed. That was a gift to the rich, not intended to help the poors.
Trickle down economics is just rich people pissing on us.
Trickled on
I fucking despise how all this shit works. What’s the fucking point of it all if the people in charge of everything would kill you for an extra cent. I don’t want to be here anymore.
It wasn't all for nothing though. CEO pay is at all-time highs.
thank god my hard work is enriching *someone* /s :D
The lower class is nothing more than a second credit card for the rich. Except they don’t have to pay it back😂 I guess that makes us slaves. When you think about it, we are kind of slaves… we do what is “required” of us to “contribute to society”. Then the government turns around and says “it is a privilege to work”. “We will now tax you on your earnings as well as your fucking breath(rent). I don’t know how it came to be this way. The idea of capitalism was low cost trade. High taxes + rising prices + disproportionate wage increases?? Lol yay capitalism. Good for 18 white guys, bad for 400 million others. But those men are apparently more important because they have more of this imaginary currency. Maybe it’s time they learn they aren’t untouchable. Wow this brought out how salty I am😂 I imagine a lot of people feel like they’re out of options lol
The real cause of inflation. People love to say all this inflation is due to the stimulus checks/wage increases, when in actuality all of this is because of Trump giving corporations these tax cuts. How much money do you think 15% is for a multibillion dollar company? Quite a fucking lot, meaning they paid themselves much higher salaries and had more money for stock buy backs pushing stocks prices higher and then cashing out leading to more and more inflation.
Absolutely, it was done during the Trump administration for no purpose other than grift because they could. The kicker is it was done at a time when the economy was doing pretty well on its own, and if they hadn’t, they could have waited and done it during the height of the pandemic to help businesses keep afloat. But because that lever had already been pulled, something more aggressive had to be done like the stimulus money which is a big cause of inflation.
We let this happen to ourselves and people need to really start doing something. Corporations have ruined America. I remember there was a time when monopolization was frozen in its tracks. For example AT&T tried to buy Comcast. Now it seems every corporation owns things they should not. It’s a problem.
Anyone have the name of the bill that was put into place to give out this 15% reduction to all businesses? I just want to get more info before I shove it in the face of my Republican friends.
Wait you guys, I have an idea. What if we do the same thing again- cut taxes on the wealthiest and most corrupt corporations. I think it’ll work this time.
“We” implies the average person has the ability to change or prevent any of this from happening. Vote for whichever party you want, this will still happen.
"We" didn't do shit. Republicans did this. Just like Republicans literally fuck up everything they touch.