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Please show proof where lowering taxes has hurt the economy. That had nothing to do with Congress manipulating the free market in housing. Raising, lowering, or keeping taxes the same would have no affect on the boom/bust.
Again there is no such thing as trickle down economics. Reagans economic policies puts the money into the hands of we the people right away. Businesses receive a return on the investment down the line after hiring and when production has increased. Business 101
Hiring where? And what? One of the huge Chinese Apple suppliers is replacing humans with robots on a large scale now, and in China of course. People in the West pay a lot of money for Apple stuff for instance, and Apple does not give the money back to the people, but sits on huge amounts of it.
In the long run I think the big problem will be what to do with masses of people whom the economy doesn't need anymore in the workforce, but only as customers. China will face huge demographic problems in the decades to come, an aging population. At the same time their companies will be huge and of global importance, not least thanks to an army of university graduates. What they will do is push automation to new levels, which will also spread to the rest of the world, with all the consequences.
Don't move the goalposts. You were claiming that the tax cuts destroyed the economy; that wasn't true 5 posts ago and it isn't true now. Even if high income earners were the only people to receive a tax cut the economy would not have tanked because of the cuts.
My new goal posts are that tax cuts for the wealthy only are not beneficial, and possibly harmful, to the economy. Tax cuts to only the middle and lower class in extremely beneficial to our economy.
We have proof of this by comparing the results of such tax cuts in two neighboring states.
The Bush tax cuts decreased our governments revenues, created deficits, and then grew our national debt. The shortage of federal money then caused federal funding to the states to be cut.
Again there is no such thing as trickle down economics. Reagans economic policies puts the money into the hands of we the people right away. Businesses receive a return on the investment down the line after hiring and when production has increased. Business 101
Then why have wages for the lower and middle classes remained stagnant since Reaganomics trickle down?
In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data.
Meanwhile, the richest 1% of Americans -- those making $380,000 or more -- have seen their incomes grow 33% over the last 20 years, leaving average Americans in the dust.
So unless you are in the upper 1%, you are arguing against your own self interest. Good luck! Perhaps that "trickle-down" check is in the mail for you.
One more time and read this slowly. There is no such thing as trickle down economics.
When corporations get tax cuts and therefore more money they reinvest it into the business. They either use that money to retain employees during down times as well as R and D or in good times they expand. That means they hire more people in order to increase production. We the people either retain our jobs or more get hired. Understand that simple, easy explanation yet?
Quote:
Originally Posted by jojajn
So unless you are in the upper 1%, you are arguing against your own self interest. Good luck! Perhaps that "trickle-down" check is in the mail for you.
Take a gander at the money supply to understand why.
Hiring where? And what? One of the huge Chinese Apple suppliers is replacing humans with robots on a large scale now, and in China of course. People in the West pay a lot of money for Apple stuff for instance, and Apple does not give the money back to the people, but sits on huge amounts of it.
In the long run I think the big problem will be what to do with masses of people whom the economy doesn't need anymore in the workforce, but only as customers. China will face huge demographic problems in the decades to come, an aging population. At the same time their companies will be huge and of global importance, not least thanks to an army of university graduates. What they will do is push automation to new levels, which will also spread to the rest of the world, with all the consequences.
My new goal posts are that tax cuts for the wealthy only are not beneficial, and possibly harmful, to the economy. Tax cuts to only the middle and lower class in extremely beneficial to our economy.
We have proof of this by comparing the results of such tax cuts in two neighboring states.
You can't change the goal posts. You were very clear that tax cuts crashed the economy - they did not and can not.
Quote:
Originally Posted by Loveshiscountry
One more time and read this slowly. There is no such thing as trickle down economics.
When corporations get tax cuts and therefore more money they reinvest it into the business. They either use that money to retain employees during down times as well as R and D or in good times they expand. That means they hire more people in order to increase production. We the people either retain our jobs or more get hired. Understand that simple, easy explanation yet?
Take a gander at the money supply to understand why.
Trickle down economics is often used interchangeably with supply side economics. There is much more to it than just tax cuts, but people tend to only want and focus on the tax cuts. However, you are seem to follow the same logic in the assumption that companies will hire and keep people on the payroll that aren't needed - that isn't true and has never been true. Corporations exist to make and maximize their profit, will do so regardless of the tax rates, and the lower tax rates increases the MC of an additional employee. Anytime the MC of an employee exceeds the MP that employee will be fired.
Because people sitting on their money is a major problem for society. They should give it back one way or another. Money does not miraculously multiply, when it is accumulated here, it is missing there.
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And what? 
