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POLO
The point is when a person touts a stock they always say they own it, their fund owns it etc.buffet did not say a word.Have you ever heard the phrase pump it and then dump it?This is why any TV show wants to know if in some way you are financially involved with the company you are touting.
stevej64, sorry, I'm just not getting it. The Berkshire investment in Goldman was huge news, coming as it did in the midst of the financial crisis and panic. Every financial news outlet covered it extensively, with a complete description of the terms. You aren't saying that Warren Buffett is a 'pump and dump' guy are you? He bought Coca-Cola in 1987 and still owns every share.
If you're asking me, I own Berkshire and Goldman Sachs. I'm not pumping either one, don't have the slightest interest in short-term moves in the price. If I see a factually incorrect posting I will attempt to correct it.
I haven't seen job creation in the 8yrs. that the rich were given the tax breaks.
If the tax breaks for the rich are continued some of them will buy a Rolex watch, no job creation.
If the tax breaks are given more to the middle class they may buy a hundred Timex watches & THIS creates jobs.
To keep doing the same thing is foolish.
You all are assuming that the money that the rich are saving via tax cuts are going to generate more jobs, but some if not all are going to pocket those savings and wait until the economy is better and then invest. Remember "rich" is a relative term which depends mainly on what you are presently earning. Bobbie on welfare looks at Joe small time business owner as being rich but he looks to be Oprah rich who in turn may want to be Bill Gates rich who in turn might look at being Saudi King rich.
And how would you describe the Country's financial situation NOW? Serious would be the understatement of the millenium.
Our leaders have already spent FAR past the point of no return. We'll have to start from scratch anyway. Let's do it right next time, and go back to the Founding Father's idea of an infinitesimally small federal government with no power to tax citizens AT ALL, but rather only the ability to raise money for DEFENSIVE (i.e., invaders) wars through tariffs that coincidentally protect our industry.
In other words, Libertarianism.
the problem with a sudden huge tax cut in an economy like this is that tax revenues would also suddenly drop, and likely cause the government to default on the money we owe. small cuts work better, especially if you have several over a period of four years, much like reagan did. but the real problem is not(i cant believe i am saying this) taxes, but regulations. we have far too many of them, and the health care reform law and the financial regulation law will only add to the amount of government regulations that cost businesses huge amounts of money to comply with, and many regulations are contradictory. if we can eliminate the excessive regulations, and have proper government oversight and minimal interference, business will take off again, as business owners would then invest in expanding their businesses. another thing we need to get rid of is estate taxes, capital gains taxes, and other taxes that hurt business investment.
Quote:
Originally Posted by sindey
I haven't seen job creation in the 8yrs. that the rich were given the tax breaks.
If the tax breaks for the rich are continued some of them will buy a Rolex watch, no job creation.
If the tax breaks are given more to the middle class they may buy a hundred Timex watches & THIS creates jobs.
To keep doing the same thing is foolish.
Quote:
Originally Posted by simetime
You all are assuming that the money that the rich are saving via tax cuts are going to generate more jobs, but some if not all are going to pocket those savings and wait until the economy is better and then invest. Remember "rich" is a relative term which depends mainly on what you are presently earning. Bobbie on welfare looks at Joe small time business owner as being rich but he looks to be Oprah rich who in turn may want to be Bill Gates rich who in turn might look at being Saudi King rich.
dont forget that the unemployment rate during the clinton years was 6%, and during the bush years, with the exception of 2001 and 2008, was 5%, and even went below 5% for a while. and you are right, the rich are holding onto their money because they are in a wait and see mode as to what happens next year with the new health care taxes, and the new health care regulations.
Quote:
Originally Posted by simetime
Was'nt that at one one time called "voodoo economics"? Or the "trickle down theory"?
the term voodoo economics was coined by bush 41 during the reagan years,a nd the term trickle down economics was coined by the democrats, again during the reagan years.
POLO
The point is when a person touts a stock they always say they own it, their fund owns it etc.buffet did not say a word.Have you ever heard the phrase pump it and then dump it?This is why any TV show wants to know if in some way you are financially involved with the company you are touting.
Thats a gross misrepresentation as to what Buffet does because he hasnt dumped it.. The reason why buffet doesnt "pump" his stock is because he intends to purchase more and if he announces he's buying stocks, the price goes up and he ends up chasing it.. Buffet grew rich by NOT selling stocks.. And using the profit from the original stocks to buy more..
so.lowering taxes wont do anything to create jobs if there is no demand for anything
If people have money sitting in the bank to spend, it creates a demand..
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