Trumponomics: Failure is Pre-Programmed by Rudolf Hickel

Macro-economic and ecological connections are simply ignored with the concentration on short-term profit. The planned reduction of corporate taxes from the current 35% to 15 or 20% recalls the Laffer-curve as the basis of Reagan’s fiscal policy error. Additional investments of businesses should not be expected. Pressure on the state budget will increase through tax shortfalls. The division between rich and poor will intensify.

The government ideology of the US follows the shady business model of the former real-estate tycoon Trump. The daily stock prices of US corporations is the focus. The necessary social and ecologicaL sustainability doesn’t have a chance.

Here is a link to the 38-page Oxfam “Rigged Reform” on the top 50 US corporations and their tax avoidance lobbying. Between 2009 and 2015, they stashed $1.6 trillion in tax havens and received $460 billion in tax cuts.

Tax dodging by multinational corporations costs the US approximately
$135 billion each year. But these schemes do not just harm the US. The same tactics corporations use to dodge US taxes sap an estimated $100 billion every year from poor countries, preventing crucial investments in schools, hospitals, roads, and other tools to reduce poverty. The harm done to Americans and people living in poor countries by corporate tax dodging are two sides of the same coin…

This entry was posted in Neoliberalism, Political Theory. Bookmark the permalink.

1 Response to Trumponomics: Failure is Pre-Programmed by Rudolf Hickel

  1. Marc says:

    `The Simpsons’ on Trump’s First 100 Days: Death and Prozac

    Everyone else is weighing in on President Trump’s first hundred days — why not The Simpsons? In a new clip, we see what’s going on in the White House, and the Simpsons‘ writers are pretty grim. Press secretary Sean Spicer has hanged himself, with a sign on his corpse saying, “I quit.” Jared Kushner and Steve Bannon are squeezing each other’s throats the way Homer usually throttles Bart. Ivanka Trump has replaced Ruth Bader Ginsburg on the Supreme Court.
    Meanwhile, the president sits in bed, fingering his smartphone, books scattered across his blanket. (Among them, Bill O’Reilly’s apparent latest: Killing a Good Thing.) An aide brings him a print copy of a thick new tax bill proposal and tells the president he needs to read it immediately. Trump whines, “Can’t Fox News read it, and I’ll watch what they say?” (Prediction: Look for this clip to turn up on Fox and Friends in the morning.)

    Cut to Homer and Marge, who’ve been watching all this on television. Homer is self-medicating with his usual Duff beer, but Marge is now guzzling Prozac and whimpering that this prescription was “supposed to last me the whole four years.” A voice-over concludes by trying, and failing, to put a good face on all this: “One hundred days: We’re 6.8 percent of the w

Leave a Reply