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Notice the red dots and what party and tax rate was in effect. But the real testimony to trickle down economics is much of the rest of the world is now using that theory while many of the ideologues here in America ignore that fact. Not sure what category you fit in but you certainly present yourself as one of those people...
Historical data and facts are not on your side so you'll need to figure out a colorful way to outright lie.
Firstly, you won't catch me in a lie, I have no need to to substantiate my points.
Secondly, look at your own graph, sparky. In which time periods are the dots clustered closest together?
Investers will invest where it makes them the most money, as is right, rightious and proper in any free Nation. They will not invest where it does the economy the most good, and will invest overseas if that is where the profit is.
By moving the bulk of the tax burden onto the working class, disposable income is decreased, resulting in less purchases of staple items, consumer goods, services, even luxery items and vacations as well by the people who buy the vast bulk of those items. This in turn cuts into the profit margin of the companies that hire people to make and sell those goods, resulting in wage stagnation and lost jobs.
Read the second graph you posted, note the relation between the highest percetages of the lower wage earners section, and the economic indicators of that time period. You will (should, if you've eyes) note that the economy suffered most when the working class was forced to take up the slack from the top earners.
Me? I'm a Centrist and registered Independant with no party affiliation. They have both acted quite silly and juvanile these past few decades. I simply have no blind partisan loyalty to blind me to simple facts either.
No, but "top 1%" isn't a very precise category. I'd like to see statistics breaking down the share of the top 1% by decile at least. I'd bet you the top 1/10th of 1% are carrying a lot of the water for the lowest decile of the top 1%.
The top one-tenth of one percent accounted for 52.3% of all the income earned by the top 1%. They paid almost exactly 50% of the taxes paid by the top 1%. On average, they paid a penny LESS in taxes out of every dollar of AGI than did the top 1% as a whole.
Firstly, you won't catch me in a lie, I have no need to to substantiate my points.
Secondly, look at your own graph, sparky. In which time periods are the dots clustered closest together?
Certainly not during the Reagan administration. They clustered together the most during periods of higher taxes. When taxes are cut be it from 90% to 70% or from 70% to 30% an immediate growth occurs. At least immediate in terms of history.
Inverters will invest where it makes them the most money, as is right, righteous and proper in any free Nation. They will not invest where it does the economy the most good, and will invest overseas if that is where the profit is.
Quote:
Originally Posted by AxisMundi
By moving the bulk of the tax burden onto the working class, disposable income is decreased, resulting in less purchases of staple items, consumer goods, services, even luxury items and vacations as well by the people who buy the vast bulk of those items. This in turn cuts into the profit margin of the companies that hire people to make and sell those goods, resulting in wage stagnation and lost jobs.
People on the lower end of the scale spend money on essential items while the better off tend to buy the luxury items and spend money on trips. The essential items are mostly mass produced now by machinery and don't do all that much for employment rates while the more luxury items and service oriented items tend to keep people employed.
Quote:
Originally Posted by AxisMundi
Read the second graph you posted, note the relation between the highest percentages of the lower wage earners section, and the economic indicators of that time period. You will (should, if you've eyes) note that the economy suffered most when the working class was forced to take up the slack from the top earners.
Well you were using Reagan as the example and I know of no one that says 1984 wasn't better than the earlier 80's. In fact I still here people today talk about when there was no work around during those time periods. Time periods where high taxes, high inflation, high interest rates and high unemployment were prevalent. For some reason those ideas are being revisited although I think inflation issues are a little overblown, at least at this time period. Inflation is a lagging problem though, of course.
Quote:
Originally Posted by AxisMundi
Me? I'm a Centrist and registered Independent with no party affiliation. They have both acted quite silly and juvenile these past few decades. I simply have no blind partisan loyalty to blind me to simple facts either.
You too? I've been unaffiliated since I was able to vote.
As a percentage of their overall wealth, I'd bet that the poorest people pay far more through taxes than the wealthiest.
Actually, the bottom 50% and the top 1% are the two groups whose tax share is greater than their wealth share. Everywhere else -- top 5%, top 10%, top 25%, top 50% -- the share of taxes is almost identical to the share of wealth.
Maybe it time go back to the drawing board and ditch the idea that we need tax money to support any and every need society may have. Pretty sure a tax $1 is worth a lot less than $1 by the time it gets to where it's going.
I thought Obama was working on that. Have the rich influenced the political scene again?
No, the recession. Plans for targeted tax increases have been put on hold...which is causing a very sizable chunk of those projected deficits right-wingers love to complain about. Oh, did I say complain? I'm sorry, I meant whine...
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