It’s been one year since the Republican Party passed its massive tax cut — and so far it’s remained a political albatross for the GOP as the party’s promises of massive wage growth for workers have yet to pan out.
If the object of the tax cut was to stimulate wage growth, then they should have given tax credits for new plants and plant expansion and improvements.
Targeted tax credits are one of the most inefficient and ineffective forms of stimulus.
"Targeted tax credits are one of the most inefficient and ineffective forms of stimulus."
Perhaps, but it would probably have achieved the same results as the pathetic "Trickle down" tax giveaway.
Using the "Trickle down" label for Supply Side economics shows about as much understanding of economics as support of socialism :-)
I'm not a Socialist and don't claim expertise in economics, but to give money to Corporations and expect stimuli, what you call the process of expected distribution is a matter of semantics.
I am not saying you are a socialist, and I apologize if I gave that impression. What makes your leftist leaning bearable is that you appear to prefer capitalism.. Not full blown free market, but a reasonable facsimile.
JFK, the last dem I am aware of that lines up with what I believe to be your political philosophy, believed in, and implemented supply side economics and we the people were rewarded.
Ronald Reagan also did, and again, median income showed good increases. The deficit was another matter, but revenue to the treasury increased dramatically as a result of his supply side economics.
Bush II also employed tax cuts as a stimulus in response to the dot com bust recession and, in spite of the 911 attack, we recovered nicely while once again, revenue to the treasury increased strongly. I won't debate the causes of the subprime mortgage crisis, (it's been done to death) but it was not the result of tax cuts.
Trump has taken the tax cut supply side approach to a new level with the extensive corporate tax cut. The personal tax cuts are a small portion of the plan. Median income is starting to show significant improvement, and I suspect that will accelerate. Corporate profits continue to show improvement. Treasury revenue is still taking a hit, but we have just finished the 4th quarter of what will take 5-6 quarters to fully mature, We'll have to see what happens in April when I suspect personal tax revenue to the treasury will set records.