I mean maybe the biggest part of this is that it cuts down the projected deficit due to the tax bill by almost 60 billion hen taking future value into account (which it is strictly incorrect, from a financial perspective, not to do).
I always thought that repatriated funds would be one of the biggest potential pluses of the tax bill and this is a big boost in that direction. It's pretty pathetic that Democrats still want to argue this is a bad thing as if more jobs and stronger economic growth are bad things. Surely someone would prefer a job paying 10$ an hour to the promise that, if they had a job, they would make 15$. I still think that Dems should've just gotten some concessions for low income families and on the top personal income tax bracket - those were areas where big wins could've been had, and would've totally stunted any boost Trump would've gotten from this because it would be seen as a bipartisan bill. Instead, Dems gave Trump a (potential) out to be able to point to strong economic growth for the next year and claim it as his own. If they don't win by as much as they should (or would right now) in November, it'll be the tax bill vote that'll be the reason for that. Literally everything else (outside of foreign policy, maybe) has been a total disaster under Trump, particularly healthcare, education, scientific and environmental policy, and race relations. To give Trump such a compelling argument when the result was so predictable was borderline political malfeasance, and while Dems should still be able to do well, why give Trump an out when he is floundering on all idea and you already know you're going to take a loss?
Nancy Pelosi's 'Armageddon' comment has got to be the dumbest thing said by a politician since at least read my lips: no new taxes.
Also the projections are that this money will go towards 20,000 jobs, not that other hiring will stall lol.
That would require trickle down economics to work. Outside of good publicity, a dollar raise at Walmart doesnt make up for the fact that its still not enough to live decently.
