(THREAD) This important moment of honesty highlights the big problem with the Republican tax plan. It's designed as if the biggest problem in the US economy is that corporations and wealthy individuals don't have enough money, and therefore aren't investing. But that's not true.https://twitter.com/nataliewsj/status/930477112808628226 …
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Look at investment at the beginning of the 1980s. The slope is much lower. Almost flat. That's what it looks like when there's not enough investment. At that time, improving the incentives to invest by cutting corporate and upper income taxes makes sense. 4/xpic.twitter.com/7VeuHMWipC
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If businesses see an opportunity to make more money, they have enough money to invest. If they're not investing, it's because they don't see a good opportunity. Which means giving them more money won't get them to invest more (as the CEOs, to their credit, admit). 5/x
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Whether the Republican Congress understands this or not, their bill won't do much for economic growth. It will, however, result in people who currently have a lot of money getting a lot more money. And to accomplish this, it'll require sacrifices from everyone else. (END)
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