U.S. Economy Grows at Faster Than Expected 3.2% in First Quarter

I think so too, however, Republicans will never agree to a well-designed and "paid-for" mega infrastructure plan.

"Let's keep mooching off Treasury Notes" they will say.

 

Federal taxes are progressive. In 2019, the rates were 10, 12, 22, 24, 32, 35 and 37%. As many as 44% of U.S. citizens did not pay income taxes in 2018 because their earnings weren't sufficient to reach the lowest tax rate. There was also a 100% increase in child tax credits for the working class.

What can offset federal taxes are regressive taxes and "sin taxes" such as real estate property taxes and excise taxes on consumables, such as gasoline or airfare. Sin taxes like excise taxes, are for things like cigarettes, gambling and alcohol. Regressive taxes will generally have more of a negative impact on low wage earners. Regressive taxes are imposed by states however, not federal government.

Proportional taxes imposed by some states (flat taxes) are to meant to create equality between marginal tax rates and average tax rates paid. I don't see that this works too well in combination with other regressive taxes, all people are taxed too high and start leaving.

There were compromises made, Trump wanted a 21% corporate rate but didn't get it. What we have now is acceptable but the fact is 70% of companies paid zero corporate taxes because they showed zero profits. Many companies did grow however (partly due to a reduction of regulations) and a substantial number of added workers who in turn paid payroll taxes. Maybe more regulations can be simplified or eliminated, I don't know any specifically. Cutting certain subsidies might be worth looking at.

 

Lack of rebutal noted.

 

Unemployment rates what did you think?

 

You said EMPLOYMENT numbers, thus, EMPLOYMENT means EMPLOYED, EMPLOYEE, thus, how many are working.

Thus, next time, use the right term.....UNEMPLOYMENT

 

No......

 

Employment numbers include both. If that is too confusing for you I can't help you.

Lack if rebutal noted.

 

U.S. consumer spending posts biggest increase since 2009
https://www.reuters.com/article/us-...g-posts-biggest-gain-since-2009-idUSKCN1S516T