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According to the the U.S. census US capital investment in foreign countries has gone from $1.3 trillion in 2000 to $3.2 trillion in 2008 while at the same time the Bush tax cuts which overwhelmingly went to the wealthy cost 1.3 trillion per politifact. So the wealthy essentially took their tax cuts, intended per the Republicans to spur U.S. jobs, and invested them and more in foreign countries, not the U.S.
We need to stop giving the rich tax breaks. They are not helping anyone else but themselves.
Well you need to lo at why. The democrtats came into office taking congress thre years ago. Last year the US went from #1 i which to invest to #2. This year it feel to #4. Its no wander with the democrats being anti-business. We have the second highest corporate rates i the world. the you have a adminsitration that preaches the evil of business evey other day and wanders why business isn't investing here. Now with 1.2 trillio dollars added to teh defcit in 11 months that means ven more taxes and fees in the future. Nothing is free;polictican just make stupid people thin so.
I like statistics. If only 70 million Americans have $3 Trillion does that mean that 230 million Americans have diddly squat in theirs? If 230 million have zilich what does this say about the American future? Its going to a real American temper tantrum lets say by 2016.
Not to worry. Obama has recognized the gross unfairness of this. Why should only those who work and contribute have 401Ks??? On what planet would that be fair??? So he plans to propose the American Retirement Redistribution Act (ARRA) to correct this horrible inequity.
People who arnt rich spend the money they get in tax cuts and thus help to create consumer demand whiles wealthy people who already have alot of money save the money they get in tax cuts so regressive tax cuts targeted att the wealthiest is detrimental for consumer spending and demand.
Perhaps if the average American didn't spend the money they received in tax cuts/tax refunds but rather invested it so that it would grow, they would also be wealthy.
Smart people not only work for their money but also put their money to work. Consider how well a behavior change would benefit the average American.
"It is not what you have; it is what you don't spend."
According to the the U.S. census US capital investment in foreign countries has gone from $1.3 trillion in 2000 to $3.2 trillion in 2008 while at the same time the Bush tax cuts which overwhelmingly went to the wealthy cost 1.3 trillion per politifact. So the wealthy essentially took their tax cuts, intended per the Republicans to spur U.S. jobs, and invested them and more in foreign countries, not the U.S.
We need to stop giving the rich tax breaks. They are not helping anyone else but themselves.
You follow the growth. The growth is NOT happening the US.
Wake up there...no one wants to invest in a loser.
Money has been flying out of the US for a few years now with class envy mounting and "get the rich" rhetoric coming from the WH.
Heck, I'm even invested in foreign companies because I want MY money to grow.
I strongly disagree with that statement, I hardly believe this home belongs to someone who is rich. May some people believe a rich person made these people slobs.
Seems like the developing third world countries have been growing their economies over the past decade, are you proposing that America develop a national policy where we ostracize the rest of the world, that we stick our heads in the sand and ignore the rest of the world?
I know you probably lump all of "the rich" into one basket, as if they are all Gordon Gecko from the movie Wall Street. But most of the people that 0bama refers to as "the rich," those who file their income tax es at or above $250,000, are small business owners in your own city. I seriously doubt the person that owns two local area pizza parlors is investing in a third one over in India.
I am a small business owner employing 4 people full time. The 'rich' who are remodeling their first and second homes make up a significant portion of our clientele. These aren't the Gordon Geckos, but the doctors, lawyers, pizzeria owners, etc. in the community.
I am hardly rich but considered 'rich' by the Obama standard. If I get taxed more heavily, or if my clientele is taxed more heavily, it will negatively impact my business and ultimately send more people to the unemployment line.
If allowed the write-offs that are being discussed, there are a few machines that would be an excellent complement for my business, would grow it, and would allow me to hire on at least one or two more men.
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