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Does anyone remember when US Steel jacked its employees around and the CEO took a package of something like 3 million dollars? Real innovation going on there.
And we have many people that made their money really quick for short term goals. This is one of the reasons that we are were we are.
That is innovation.
Fantastic. Real bright thinking going on there. I expect no less.
Last edited by Pandamonium; 08-13-2010 at 09:06 AM..
Why are the republicans for the tax break if you are worried about the deficit? We can't have it both way? Either you want the deficit to go down or you don't.
One more time...when you "raise taxes" on business, especially small business (that create the majority of the jobs and fall "OVER" the $250,000 base line) you will "decrease" tax income. Why? Because jobs will decrease and those earnings from jobs will shrink. When you "DECREASE" taxes on business you increase jobs and thus INCREASE income to the government.
So all you who "hate the rich" you better rethink and try some logic in the economics area. You want the deficit reduced? Then the way to do that is to "REDUCE" taxes on business which will impact two of our biggest problems brought on by the crap that Washington has dropped on our heads. Reducing taxes on business will 1) increase revenue to the government and 2) increase the number of jobs in private enterprise.
Remember, increasing all those government jobs has just added to our deficit. Government wages are paid by "taxpayer $'s."
Then, when this god-awful BO health care is rescinded, that will again boost the job numbers created in the private sector.
Then, when the illegal immigrant mess is taken care of and the taxpayer $'s no longer have to support illegal welfare, housing, medical, schools, incarceration, etc., we will more than likely reach a surplus which can then go to paying down the debt, since the deficit will have been neutralized.
Sound like a good plan? Can you think of anything else that will work?
They're already paying more total dollars and higher percentage of their incomes than the vast majority of us. How much of their earnings need to be seized by an out of control government to make you happy?
When government taxes them to the point that their net income is no greater than that of the poor what incentive is there for them to continue producing revenue?
Seized? Please. And stop with the hyperbole. The mega-rich aren't going to be taxed to the point of putting their income on par with that of the "poor".
Under the Democratic plan, the ultra-rich are still getting a tax cut, just not the ginormous tax cut the Republicans want them to have. Perhaps a visualization would help.
Notice how the cuts are almost identical up to the half a million in income mark? Then look what the Republicans want to give the multimillionaires. Care to explain how that kind of disparity makes any sense? Why do they deserve that kind of government handout just because they're wealthy beyond anything the average American can ever hope to achieve? They're no more "special" than anyone else in this country.
Quote:
Originally Posted by outbacknv
Continually taking more from the most productive members of our society will ultimately lead to less government revenue.
The only realistic way to reduce the deficit is to reign in government spending.
The mega-wealthy are the most productive members of our society? Since friggin' when? Stop making stuff up.
Also, it's not an either/or proposition, you know.
You need a model to explain common sense and the most basic economics?
Yes. And I see neither from you folks but the same old rhetoric, sounding like a broken record, that demonstrates inability to recognize problems from the past much less into the future. Playing partisan politics and being pandered by politicians ain't common sense, BTW. It is stupidity.
When you dismiss studies from agencies like CBO on whimsical grounds, and then claim that common sense and "most basic economics" (whatever that means) be used, well, you surely think you would be taken seriously, don't you?
Notice how the cuts are almost identical up to the half a million in income mark? Then look what the Republicans want to give the multimillionaires. Care to explain how that kind of disparity makes any sense?
Most of them won't get it. On the politicians part, it is self-interest. Their supporters: self-defeating. A match made in heaven.
When you "DECREASE" taxes on business you increase jobs and thus INCREASE income to the government.
This is not universally true. The best way to describe this effect you are alluding to is similar to a slightly right-tail distribution graph (some may claim, depending on income, the data shows it may be even a left-tail), where the horizontal axis is the tax rate and the vertical is revenue. The peak of this graph would be the optimum tax rate.
In other words, when tax rates are high to extremely high, reducing the tax rate does increase overall revenue. However, when they are low (and currently they are the lowest in decades for overall burden), they do not increase government revenue.
So this talking point is true in some regards, but false in others. Currently I would argue false looking at long term macroeconomics.
For visual purposes, here is a picture I stole showing a right-tail graph from www.cnx.org:
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