Wednesday, September 28, 2022

Cutting Taxes In Hopes That Businesses Will Reinvest?

If people were serious about cutting taxes so that businesses and the rich would reinvest the money into people and businesses, then there would be a condition attached to the tax break stating that the increased income would be used to fund productive investments to raise employment, foster businesses and positively contribute to the economy. 

But they always allow the corporations and the rich to do as they wish with the money. Always a loophole!

Cut taxes and hope for a trickle down effect? The Korean conservative party routinely cuts taxes and states that it will promote investment and employment. Hasn't worked yet. Mostly used to buy up all the available real estate, artwork, collectibles, luxuries and stuff. Only the rich get richer.

Trump's tax cuts didn't result in increased investment by companies or the rich.