Tag Archives: rate cuts

Another nail in the tax cut coffin…

Well…okay, I know not many of you follow what the fed does on a daily basis, but today fed chair Powell lowered interest rates by .25 percent citing weak manufacturing and business investment data….now hmmmm…let’s think back a bit to 2017…I wonder what the reason was for the huge tax cut given to business and millionaires? Yep you guessed it…they were pushed and pushed by the repubs that they would “jump start” exactly those two things…oh, and also pay for themselves and give every working person a 4,000 dollar raise…but the CRS study found that the tax cuts did nothing to juice economic growth or raise wages…it just transferred wealth to the 1% and is causing trillion dollar deficits as far as the eye can see. You know, this should be the last nail in the tax cut coffin but just yesterday, Ted Cruz and his cronies have floated a new scheme to cut taxes on the rich even more…saying that “it will work this time” to keep the economy moving…yeah, right, Ted…never worked before….won’t work now…what a damn zombie idea that just won’t die…