Drudge Retort: The Other Side of the News
Saturday, June 15, 2019

Kevin Drum: The chart below shows corporate profits before and after the Republican tax cut, compared to corporate tax receipts (through May) before and after the tax cut. As you can see, President Trump signed the tax cut into law on December 22, 2017, and it was a very merry Christmas indeed for his big business pals.

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Thats great.. if we can just ignore $900 billion deficits

#1 | Posted by 503jc69 at 2019-06-15 07:02 PM | Reply

The Pitchforks Are Coming ... For Us Plutocrats

www.politico.com

If this situation of continued looting of the U.S. Treasury of trillions of dollars of taxpayer money by mega-rich Republican douchebags ...

There will either be pitchforks in the streets, or we will all live in an iron-clad fascist police state.

#2 | Posted by PinchALoaf at 2019-06-15 07:37 PM | Reply

Of course corporations are moving back to America in droves because of the lower tax rate, right?

WRONG

Trump hypes jobs relocating back to the U.S. Are they?

"I'd say 300, 400 -- at least -- announced in 2017," Harry Moser, president of the Reshoring Initiative, a nonprofit that tracks jobs coming back to the U.S., said late last month.

But is a few hundred companies significant?

"I would call this movement right now a trickle," said Scott Paul, president of the Alliance for American Manufacturing.

www.post-gazette.com

#3 | Posted by AMERICANUNITY at 2019-06-15 07:40 PM | Reply | Newsworthy 1

Above article from Jan 4, 2019

#4 | Posted by AMERICANUNITY at 2019-06-15 07:41 PM | Reply | Newsworthy 1

Big businesses paying even less than expected under GOP tax law

Though profits remain up and the economy is strong, total corporate taxes are at the lowest levels seen in more than 50 years.

Republicans were dismissive of the idea that their tax cut was just a huge gift to corporations and billionaires that put even more burden on the middle and working classes. And as it turns out, they were right to be dismissive -- because the plan has turned out to be much worse than predicted.

The Treasury reported a 31% decline in corporate tax revenue for 2018. Which was twice what policy planner anticipated when describing the impact of the Republican bill. Treasury officials projected that government revenues would see a bounce in 2019. Instead, as Politico reports, the numbers are still going down. In fact, they've declined by another 9%.

www.politico.com

#5 | Posted by AMERICANUNITY at 2019-06-15 08:03 PM | Reply | Newsworthy 1

Dems

Corporate Profits bad. Illegal Immigration Good

#6 | Posted by Maverick at 2019-06-15 08:34 PM | Reply

Dems

Corporate Profits bad. Illegal Immigration Good

#6 | POSTED BY MAVERICK

Who profits THE MOST from illegal immigrants?

You're an clueless idiot.

#7 | Posted by PinchALoaf at 2019-06-15 08:42 PM | Reply

Comrade Maverick proving every post he's dumber than a stump!

I'm waiting for the "Trickle down", problem is it never does, because the CEO and executive class hoard all profits for themselves via self given raises, bonuses, and stock options.

I know of a CEO that just "retired" in April, that committed insider trading at least 3 times.
It was reported to the FEC who in the end had no will to seriously look into the matter.

Said CEO also left with a 128 million dollar severance package, after making almost 1 billion dollars of total compensation during his just under 20 year "leadership".

#8 | Posted by aborted_monson at 2019-06-15 10:27 PM | Reply

A little unpleasant fact, corporations don't pay taxes. They just add the cost to their products. All corporate profits are eventually individual income. How about taxing all income? Want to hear the plutocrats squeal like stuck pigs? Tax the trusts and legacy funds.

#9 | Posted by docnjo at 2019-06-16 11:59 AM | Reply

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