Haven't seen the budget, but all the money he's pledging everywhere has to come from somewhere I guess, the poor mainly are getting hammered in the UK aswell, middle class still doing okay.
It's typical right-wing/conservative economics. Take money from the poor and middle class and give it to big business in hopes that the wealth trickles down. That flawed supply side economics crap. In such an economic environment, businesses who make their money off of consumer spending will more than likely take a hit since the poor and middle class will have less money to spend.
They've been doing it for 4 - 6 years in the UK, Austerity cuts and the deficit has literally tripled since moving to it, screwing the poor to give to the rich, but the rich screw the government by not paying there tax's, so the poor are being screwed for no real benefit.
How high are the taxes for the poor? Where do the poor get the money to pay their taxes? What do they do to the poor if the poor simply don't have enough money to pay their taxes?
You can't seriously believe that the poor has no money. I noticed also how you failed to include the middle class, whom I also spoke on. Another important point to note is that I'm talking about the working poor. Not those who refuse to work and leech off of the system. Here's my answer though.... Big business and the rich have been getting corporate welfare for the longest while dodging taxes, leaving the tax burden on those least able to afford it. You can also take a look at the lack of wage growth for the poor and middle class while the income of the rich continues to grow. While the poor and middle class' income remains stagnant, the cost of living continues to rise. But, when the poor and middle class demand higher pay in the face of all of this, conservatives call them greedy, entitled and the like. Meanwhile, available money a.k.a stimulus, continues to be gifted to the richest people.
the respectable middle class i.e. bourgeois always getting crushed. the poor are bought off by the elite.
Small business is paying a higher rate than S&P 500 corp. And too many regulations for small business who don't have a full time compliance department. That's who needs the break the most and to whom a break will have the most immediate and long lasting effect. Trickle down is good and the only way, they just started too high.
The problem in a capitalist country is when big business and the rich are not paying their fair share. Nobody is arguing that the rich should take care of the poor. But the fact that there are loopholes that allow the rich and big corporations to escape their fair shares is the really issue here. Trickle down does not work in a society where the top is not doing what trickle down economics assume. Let me give you couple examples. Big corporations are supposed to hire more full time employees when corporate taxes are lowered. They don't however, mostly they invest in automation or hire part time employees. Part time workers have zero incentives to have babies or consume on a large scale because their future is highly uncertain. The rich equally have no incentive to give away more when there are so many loopholes to actually avoid paying their proper tax bracket. Trickle down works when he assumptions are valid. They are not valid at all in 2017. I believe we will get to a point where the middle class and everyone below will stage a revolt and either an extremist left is getting into power who makes life for the upper echelon miserable and unbearable or the mob will drive out the top altogether. Nobody benefits from that. The problem that I see in the US is that everyone is so occupied with their pretty political views (as if it mattered or anyone cared) as opposed to seeking solutions that are fair and work for a much larger percentage of society. Even conservative Republicans in the middle class will eventually feel sold out by the current administration and turn to other propositions.