Skewering of Leftist Economic "Conventional Wisdom"

[Dondilion]

Trump tax cuts wont offset the impending slowdown.

" business investment growth in the year after tax cuts has actually been shrinking since the 1960s"

https://www.bloomberg.com/view/artic...nding-slowdown

[Pio1980]

Probably, yes.
Reestablishing the conditions that led to the recession of 2008 will allow a few well placed insiders to make a killing and get out before the collapse.

[Chicks]

Fact checking the dotard's speech.

https://www.npr.org/2018/01/30/58037...ress-annotated

According to the nonpartisan Tax Policy Center, 65 percent of the savings from the tax cut this year will go to taxpayers in the top 20 percent of the income ladder; 20 percent of the savings will go to the top 1 percent. By 2027, when many of the personal tax cuts are set to have expired, 83 percent of the savings will go to the top 1 percent of earners. (The bottom 60 percent will see a tax increase.)


Scott Horsley
NPR White House Correspondent

[Pio1980]

A self entitled greedy trust fund kid?
Yup, the common man's representative, I trust him as much as I trust the Wall Street plutocrats that have been put in charge of economic policy to serve the public interest.

[CarlV]

MILWAUKEE — Harley-Davidson's sales fell sharply in 2017 and the company will move ahead with a plan to consolidate manufacturing operations, including the closure of its Kansas City, Mo. plant.
The world's largest maker of heavyweight motorcycles has struggled to reverse a four-year sales slide, with growth overseas somewhat helping offset a decline in the U.S. bike market.
The Milwaukee-based company said its net income fell 82% in its fiscal fourth quarter to $8.3 million, compared with a year earlier. Earnings per share were 5 cents, down from 27 cents a year earlier. Revenue was $1.23 billion, up from $1.11 billion.
The earnings drop came in part because of a charge associated with President Trump's tax cut and a $29.4 million charge for a voluntary product recall.
Harley-Davidson worldwide retail motorcycle sales fell 6.7% in 2017 compared to 2016. The company's U.S. sales fell 8.5% and international sales were down 3.9%.
Harley has taken steps to counter what's been a prolonged downturn, including tightening motorcycle inventories.
https://www.usatoday.com/story/money...ll/1078008001/

Nice tax cut, now KC Harley employees pay less than the Coke Bros.

[Dondilion]

Originally Posted by CarlV

Nice tax cut, now KC Harley employees pay less than the Coke Bros.

Harley has a big problem: The amount of young people needed for long term profitability is not there.
Harley is a Boomers game.

[Pio1980]

Originally Posted by Dondilion

Harley has a big problem: The amount of young people needed for long term profitability is not there.
Harley is a Boomers game.

As a rider, HD's most valuable admirable asset is it's dealer network. They are working on their product lineup to move forward, but I'm riding an Indian Scout as the best fit for me at this stage of my life.

[whell]

Conference Board 2018 Forecast:

A happy new year seems in store for the US Economy. Consumer and business spending are closing 2017 on a high note, pushing growth above 3 percent for the final three quarters of 2017. Tax cuts passed by Congress will provide an additional boost to the domestic economy this year. We project GDP to rise by 2.9 percent in 2018 compared to 2.3 percent for 2017.

The Atlanta Fed Reserve Bank is suggesting much higher numbers, though their system has been shown to be less than perfect in the past.

I'm sure when the congressional Dems read this, they'll sit on their hands some more.

[whell]

Meanwhile, back on topic:

U.S. Adds 200,000 Jobs; Wages Rise by Most Since Recession

Oh, man, are the Congressional Dems gonna hate this:

The report puts the nation closer to maximum employment -- one of the goals of the Federal Reserve -- and sets a solid tone for hiring this year following continued gains in payrolls in 2017. That could be starting to generate a long-awaited, sustained pickup in wages and boost demand in this expansion, which may also get a lift this year from tax-cut legislation signed by President Donald Trump in December.

And more:

In addition, 18 states began the new year with higher minimum wages, and some companies have recently announced bonuses and salary increases following the passage of the tax-cut legislation. While determining the exact impact may be difficult, economists expect these developments will boost worker pay in 2018.

I think another way to say the bolded statement above is: "a rising tide lifts all boats.".

[Pio1980]

Tax cuts worked so well in Kansas?