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I didn't really read the link I was just answering the question as to who thought cutting taxes of the rich created jobs. But since you bring up Reagan's tax cuts, he really had a tax increase but not for the wealthy. He lowered the rich (corporate) tax but increased the individual income taxes. If memory serves me, there were a lot of minimum wage hamburger flipping jobs back then. He paved the way for the get rich on wall street crowd and corporations created a lot of new jobs overseas. Pretty much widened the gap between the have and have not at home. Not really my idea of an economic recovery.
You are faulting Reagan for allowing people to retain more of their own hard earned money, because of what you think some people chose to do with their money? Taking away people's wealth to control them and prevent them from being industrious is not a sound tax policy.
There is a difference between giving tax breaks to corporations and small business employers and giving tax breaks to rich individuals.
really? consider the fact that it is generally the upper middle class and the wealthy that own most the businesses in the US.
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Originally Posted by NHartphotog
Tax breaks should be given to owners of small businesses specifically for hiring employees and doing other things that expand the business. Also to anyone who hires other people (for yard work, house work, etc.).
just those people? why? keep taxes high on large corporations, and the people who buy their products and services will just pay more for those products and services.
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The people and corporations at the very top pay virtually nothing in taxes; our politicians set it up that way. They never will; all your "tax the rich" dogma is simply used by the elite to tax the working middle class. They bear the burden of the entire, massive, parasitic cancer known as government. Taxes as a whole must be reduced by 75% or more if this economy and this Country is to recover.
in a way you are right, corporations do not pay taxes of any kind, the people who buy their products and services do. raise taxes on a corporation and they raise the price everyone pays. as for the super rich, you are kind of right, but also wrong. they may not pay as much in taxes as the government wants, but there is a reason for that. in order to avoid paying huge amounts in taxes, they set up charitable foundations to kep their money away from the government. however, in order to do this they have to give away a certain percentage of the foundations wealth every year. so the rich still pay out a lot of money every year, they just get to decide where the charity goes, not the government.
as for cutting taxes by 75%, that is an admirable goal, but it would need to be done over a period of time to avoid serious financial issues.
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I don't see it happening under this Socialist Totalitarian Administration, which finds the current economic disaster an opportunity to expand government power and spending.
conc1
after the work is done in a week what does the worker do then?Warren Buffet brags that he stil llives in the same house for the last 30 years and spends just enough for upkeep.
Only people who understand economics, which you are obvious NOT one of. For the economy to grow, it needs the flow of money, it's fuel. When money is taken from the economy by taxes, and mal-spent, the economy is deprived of fuel, and sputters and slows.
By reducing tax rates to the rich (who pay the overwhelming majority of all taxes paid, the "leak" of fuel to the black-hole of government is pinches off, and more money, fuel, is kept in the economy, which grows, a byproduct of which is enhanced employment AND more, not less, revenue to Uncle Sam the parasite man.
America deserves better than an 11% Congress, End Predatory government and parasite politicians.
Does anyone really believe that giving tax breaks to the rich will somehow creates jobs?
Do you believe that the Federal government taking the money from the rich creates jobs? If your answer is, "yes," then Nancy Pelosi would agree with you.
Do you believe that the Federal government taking the money from the rich creates jobs? If your answer is, "yes," then Nancy Pelosi would agree with you.
Even many democrats are realizing that increasing taxes will kill the economy. This is pretty simple stuff.
Does anyone really believe that giving tax breaks to the rich will somehow creates jobs?"
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Originally Posted by city414
Anybody who lives in reality....Seriously!
It hasn't worked yet. The money keeps going to offshore accounts instead of into new plants and workers.
I say go back to tax rates in 1950.
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I was just answering the question as to who thought cutting taxes of the rich created jobs. But since you bring up Reagan's tax cuts, he really had a tax increase but not for the wealthy. He lowered the rich (corporate) tax but increased the individual income taxes. If memory serves me, there were a lot of minimum wage hamburger flipping jobs back then
