When GM announced major layoffs and plant closures earlier this week, Democrats immediately blamed GOP corporate tax cuts. We argued GM’s problem is far more complicated than that; other factors include its bailout 10 years ago, Big Labor, and a poor and unpopular product lineup. Not only that, but Democrats were missing the forest for one tree.
The Wall Street Journal’s James Freeman agrees. Noting yesterday’s updated but largely unrevised report of third-quarter GDP growth of 3.5%, Freeman wrote, “Despite concerns over trade disputes and a slowing global economy, the corporate tax rate cut enacted in December of 2017 continues to encourage the business investment that leads to higher productivity and higher wages for American workers. Today the government reported that such investment was higher than it initially reported for the third quarter of the year.”
In other words, the significant revision to the GDP report was that American companies invested substantially more than initially reported...
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3 comments:
The influx of American workers has not boded well for college grads.Qualifications have been compromised in lieu of the abilities of non college workers.
What are you trying to say there 5:40? That the work force isn't qualified because they didn't go to college? Please clarify your comment. I make more money now with what I learned by hand vs college degree/ qualifications. And I owe no money towards no college or college/ student loans. What makes a vollege educated person better than me? Nothing. I get paid more to fix college educated screw ups because they don't know what the hell they are doing. So enlighten me on your comment.
Wait, just wait until everyone finds out what their taxes owed are going to be for year 2017. You know, when most of the deductions from taxable income are eliminated, and replaced with a "lower" tax on much more taxable income. It's not going to pan out like everyone thinks..... You'll see, yeah, just wait and see.
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