Supply-Side Economics

[Pio1980]

Originally Posted by finnbow

“There is still a lot of thinking on the right that if big corporations are happy, they’re going to take the money they’re saving and reinvest it in American workers. In fact they bought back shares, a few gave out bonuses; there’s no evidence whatsoever that the money’s been massively poured back into the American worker.”

- Marco Rubio

https://www.washingtonpost.com/news/...-gop-tax-cuts/

Essentially, fascism.

[Chicks]

Apple just fueled everyone's biggest fear about how companies are going to use their extra tax reform cash

https://finance.yahoo.com/news/apple...134750037.html

When President Donald Trump's massive tax plan was announced, experts immediately feared the worst about how companies would spend the additional cash they'd soon have for deployment.

They figured corporations would choose to enrich shareholders through buybacks and dividends, rather than reinvest in their own businesses or create jobs.

And their fears were valid. Back in 2004, the last time a tax holiday occurred, companies used a whopping 80% of their proceeds on share repurchases. This time around, Bank of America Merrill Lynch expects just 50% of it to be used for buybacks — but the jury is still out.

Apple didn't help matters much on Tuesday, when it said it'll buy back an additional $100 billion in stock — an eye-popping number that marks the biggest increase on record for a company already known for their history of massive repurchases.

[whell]

Originally Posted by Chicks

Larry Summers: Trump’s economic growth is 'unsustainable'

Of course, Summers is a subject matter expert, exactly the sort of person Trumpies like Whell despise.

He's definitely your kind of guy, Chicklet:

But, according to numerous accounts from those who have worked with him, Summers has often displayed the opposite attributes during his long career. Behind the scenes, he has used his power, combined with intellectual arrogance, to bully opponents into silence, even when they have been proved right. He has refused to allow his dissenters a voice at the table and adopted a policy of never admitting errors.


And Summers has made a lot of errors in the past 20 years, despite the eminence of his research. As a government official, he helped author a series of ultimately disastrous or wrongheaded policies, from his big deregulatory moves as a Clinton administration apparatchik to his too-tepid response to the Great Recession as Obama's chief economic adviser. Summers pushed a stimulus that was too meek, and, along with his chief ally, Treasury Secretary Timothy Geithner, he helped to ensure that millions of desperate mortgage-holders would stay underwater by failing to support a "cramdown" that would have allowed federal bankruptcy judges to have banks reduce mortgage balances, cut interest rates, and lengthen the terms of loans. At the same time, he supported every bailout of financial firms. All of this has left the economy still in the doldrums, five years after Lehman Brothers' 2008 collapse, and hurt the middle class. Yet in no instance has Summers ever been known to publicly acknowledge a mistake.

Intellectual snobbery, "disastrous or wrong-headed policies", trying to bully instead of debate.... Yup, its all there. No wonder why you like the guy so much, Chicklet.

[bobabode]

"Chicklet"? What are you, 11 or 12 years old, Mike?

[whell]

Originally Posted by bobabode

"Chicklet"? What are you, 11 or 12 years old, Mike?

I get called every name in the book on this forum, and not a peep from you. But "Chicklet" draws your ire?

Hilarious....if not typical.

[finnbow]

Originally Posted by whell

He's definitely your kind of guy, Chicklet:

Yeh, but unlike Larry Kudlow, Trump's chief economic advisor who only has a BA in History, Summers has a PhD in economics from Harvard and became one of its youngest tenured professors in the university's history at age 28, as well as Chief Economist for the World Bank and President of Harvard. In other words, he's hyper-competent, whereas Trump's main economist isn't even an economist.

[whell]

Originally Posted by finnbow

In other words, he's hyper-competent, whereas Trump's main economist isn't even an economist.

So you like 'em book - smart, even if history shows they're arrogant, argumentative, won't listen to other folks, and mistake - prone. Good for you.

[finnbow]

Originally Posted by whell

So you like 'em book - smart, even if history shows they're arrogant, argumentative, won't listen to other folks, and mistake - prone. Good for you.

Sounds like your boy, John Bolton. I do, however, tend to prefer competence over incompetence, though sycophancy and incompetence seem to be job requirements in the Trump administration, along with dishonesty, of course.

[Chicks]

Originally Posted by whell

So you like 'em book - smart, even if history shows they're arrogant, argumentative, won't listen to other folks, and mistake - prone. Good for you.

Sounds like your resume, minus the book smart part. I mean, how much learnin' does it take to be an HR flunky, after all.

[whell]

Originally Posted by finnbow

Sounds like your boy, John Bolton. I do, however, tend to prefer competence over incompetence, though sycophancy and incompetence seem to be job requirements in the Trump administration, along with dishonesty, of course.

Pretty typical response here. When you find yourself on the losing end of a debate, you change the subject to Trump and engage in false equivalence. The discussion in this thread is about supply side, and swerved a bit - still within topic though - to Larry Summers (who was being lauded by some folks here even though he started his career in the Reagan administration and recently advocated Reagan's policies as an option to Trump's).

So, is it possible for you to stay on topic, or do you want to continue to retreat into the world of false equivalence when you get in trouble.