3w ago

Effective tax rates before and after the Trump tax law

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And every single one of those companies has gone through rounds of layoffs in 2025. Not only that, but each one of them had released statements saying that their layoffs were (paraphrasing) "strategic reductions in force" unrelated to economic factors.
Which is a long way of stating the obvious: corporate tax cuts don't encourage job growth. Even if that stupid theory were true, companies would have eliminated chunks of their workforce with or without the tax breaks because AI investments (/gambles) are majorly driving this iteration.
- they have even less reason to hire people for thier companies, if they can save money they will just squeeze out the current employees or outsource them. prior to takeover r/conservative by russian bakced mods, early on in trumps term, they actually believe no corporate taxes equal=more jobs.
  the layoffs have been happening since musk started in early 2023, than followed by every company in tech.
- My buddy works for Verizon and just let a few of us know that Friday they'll be laying off 15% of the workforce.

Well my ISP dillegently itemizes every single state local and federal tax they pay as an additional "fee" on my monthly bill. Therefore, I should see that the federal item drop off my bill, right? Right?

But MY bills are cheaper!
Except they're not? This is a perfect snapshot of "trickle down" economics failing. Well, failing for the electorate, huge win for the rich.
All economic systems funnel money to the top without an educated, democratic electorate.
- Trickle down economics only work for the non-wealthy. If you give a 1000$ to a poor person, they would ideally buy locally making the money go around the community.
  However, we are so deep in late stage capitalism that mega corpos have their claws in everything that every dollar given to them is a dollar that doesn't go back into the economy
  
  Your example of giving a poor person money which they spend and circulate into their local economy is literally the opposite of "trickle down".
- Give poor person money: they spend the money.
  Give rich person money: they use it to leverage more money out of the economy of working people.
  Wow so good at business look at all the money they're stealing.

Robert Reich has both a bluesky account and a mastodon account. There's no reason to use a xitter screenshot.
- xhitter*

If you ever need to remind yourself if Americans are stupid, remember that they elected a born rich criminal with one failed presidency already under his belt who made it very clear he would work to benefit corporations and that he was not a fan of unions or worker rights.
I mean....that is Grade A stupid right there.
- America was always stupid.
  They just had the advantage that they didn't get flattened by most of WW2.
  The rest of the world is starting to catch up as the US returns to its mean.
- Tbf, they have a lot of help to stay this stupid.
- Well it was either that. Or a woman.
  Twice.

Anyone got a link to the inevitable fact checking post? I trust Mr Reich, but it's always nice to follow up.
- It's a great question in these times of misinformation.
  It appears to have come from this policy organisation. Naturally they may have an agenda but at least have more credibility than an X tweet:
  https://itep.org/corporate-taxes-before-and-after-the-trump-tax-law/
  
  Huh, May 2024. I wonder if it's gotten worse

I wonder where that guy’s son is from.
- Maybe he dropped out
- He's been here the whole time!
- He's famously from Ypsilanti Michigan, everyone knows this!
- I don't get it
  
  Robert Reich is the former Secretary of Labor (Clinton admin).
  His son, Sam Reich, is CEO of Dropout. This is a streaming service that hosts a variety of shows. Cooking shows, improv, D&D games, etc.
  A recurring joke on one of shows Sam hosts is that everyone talks about how he is from Cambridge, Massachusetts for some reason.
  
  BabyTron meme unless my Internet sense is failing me.

So their taxes drop, the cost of goods and services go up because…..why?
Why is it considered so damn important to keep rich people happy? Just fucking eat them. Or put them in a zoo isolated from the rest of us and tended to by the shitty AI they are so crazy about. Make the entire thing pay per view so I can watch them turn their environments into hellscapes while we live perfectly fine without them.
- Because they don't care about other people, we are literally just things to be used and discarded. You can take a lot of stuff when you're a psychopath who doesn't care about anyone but yourself.
- Human meat isn't going to be very palatable to other humans. Better to compost them and grow something with their remains.
  
  Woodhouse: “they called it long pig……never much cared for it”

Welp, there's 5 businesses right there that I will not ever buy anything from again.
They can't pay their fair share of taxes, I guess I can't be a customer.
- Related: Someone commented the following gem on another Lemmy thread a month or two ago - "They get to choose their business model, I get to choose my customer model".

Ahh the tariffs make so much sense now, moving corporate taxes to the plebs.
- Well, kinda. But also a ton of business to business trade is fucked right now. Automotive manufacturing can shift back and forth across the US/Canada border half a dozen times as pieces are machined and fitted and assembled.
  There's a reason we ditched tariffs for taxes in the 1940s. Tariffs create economic friction at every border crossing. Income/business taxes only capture profits at the end of the accounting period.
- yhea, obvious since the beginning. replacing progressive corporate taxes for a flat tax as a fuck you to people.

Oh cool so Walmart can afford ppl walking out with full shopping carts now
- If you see someone stealing food, no you didn't.
- During the Recession, in Chicago , a thing called flash mobs started happening. A bunch of people would storm into high end stores, grab whatever they could get their hands on, and run away. I would love to see it happen to big grocery store monopolies, Walmarts, and the like.
- Ding ding ding

This is what you voted for protest-non-voters.
- I like how liberals are always like "Leftists are so powerful that without them the dems lose but so unimportant that we don't need them".
  Almost like it's one of the core tenants of fascism...
  
  You're twisting yourself into knots. I'm just informing protest-non-voters what they voted for.
  
  they are both strong and weak at the same time, so storng as you must always fight against the enemy, and weak that they cant do anything you want.

Best part is if and when they try to restore them or raise them they will removed about the rates being impossible snd 'they will just leave'.
Fucking shitfuckers...

Regardless of how taxed these corporations are, they all steal surplus labor value from the working class. Democrats only want to prevent the parasite class from killing the host, not to remove it.
I guess this is where im supposed to say thank you and kiss chuck Schumer's feet? standards are loooooow. Let's introduce competition into the electoral process and raise them.

That's a lot of money to trickle down, can't wait!!!! /s
- Trickle down only works as expected in specific situations.
  
  The description on tickle down pic is spot on:
  They will create cyberpunk style society “prosper” may be interpreted differently depending on the viewer…

thank god i don't live in the US.
EU citizens, never stop fighting.
- Do the same with chat control
  
  can never stop. they just keep trying and trying. sadly we have to do the same.

Corporate giveaway? Call it what it is: corporate socialism. Using the people’s money to line the pockets of oligarchs

Why do they get the property protection systems of the community when they don't contribute to the community? Why do they get litigation system access if they don't help pay for the system?
- Regulatory capture is the end stage of capitalism. The rich buy the government and clear away any protection we have against them.

Well... Damn

Now do the 99%

77 comments