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Old 03-28-2011, 03:45 PM
 
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States broke? Maybe they cut taxes too much | McClatchy

In his own research, Bartik found that a 10 percent across-the-board cut in state and local business taxes might boost employment by 2 percent, but it could take up to 20 years.
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Old 03-28-2011, 04:20 PM
 
10,876 posts, read 12,959,109 times
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Trickle down economics has never, and will never work.
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Old 03-28-2011, 04:21 PM
 
6,486 posts, read 6,196,365 times
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Originally Posted by TempesT68 View Post
Trickle down economics has never, and will never work.
Trickle up poverty sure has been shown to work, though.
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Old 03-28-2011, 04:30 PM
 
10,876 posts, read 12,959,109 times
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Originally Posted by Calvinist View Post
Trickle up poverty sure has been shown to work, though.
Everyone pays their fair share has worked remarkably well. Just look at Clinton
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Old 03-28-2011, 05:10 PM
Status: "Has your vaxx worn off yet?" (set 19 days ago)
 
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taxes are theft, nothing fair about that.
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Old 03-28-2011, 05:18 PM
 
69,364 posts, read 60,136,570 times
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Quote:
Originally Posted by TempesT68 View Post
Everyone pays their fair share has worked remarkably well. Just look at Clinton
It was during the Clinton administration the trickle down was pushed forward..
While clinton increased the marginal tax rate, he lowered the effective tax rates which encouraged growth..

You are criticizing lower taxes while sighting a period of time where we had lower taxes as an example that it works.
http://www.outsidethebeltway.com/wordpress/wp-content/uploads/2009/07/effective-tax-rate-charts.png (broken link)
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Old 03-28-2011, 10:05 PM
 
29,984 posts, read 40,467,824 times
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Quote:
Originally Posted by TempesT68 View Post
Trickle down economics has never, and will never work.
Neither does trickle-up poverty the Marxist redistributive wealth kind of way.
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Old 03-28-2011, 10:16 PM
 
Location: Las Vegas
5,866 posts, read 4,599,093 times
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Quote:
Originally Posted by Versatile View Post
States broke? Maybe they cut taxes too much | McClatchy

In his own research, Bartik found that a 10 percent across-the-board cut in state and local business taxes might boost employment by 2 percent, but it could take up to 20 years.
Quote:
Republicans in the House want to balance the budget by denying more than 200,000 little children the opportunity to receive an early education through Head Start; reducing or eliminating Pell Grants for 9.4 million college students; eliminating primary health care services to 11 million Americans; and delaying Social Security benefits to half a million eligible Americans, among other things.
Before Congress cuts funding for Head Start, Social Security, and financial aid for college, we have got to make sure that large, profitable corporations are paying their fair share of taxes.
At a time when we have a $14.2 trillion national debt and a $1.6 trillion federal deficit, it is unacceptable that Exxon Mobil, General Electric, Bank of America, Chevron, Boeing, and other large, profitable corporations are not only avoiding paying any federal income taxes at all but have actually received huge refund checks from the IRS.
Loopholes in the tax code, offshore tax havens, tax breaks to companies that export American jobs to China, and other tax breaks have allowed giant corporations in America to receive billions in refunds from the IRS.
Meanwhile corporations are sitting on nearly $2 trillion in cash on hand, and big banks have nearly a trillion dollars in excess reserves parked at the Federal Reserve.
In 2005, one out of four large corporations paid no income taxes at all even though they collected $1.1 trillion in revenue over that one-year period.
In 2009, Exxon Mobil made $19 billion in profits. Not only did Exxon not pay any federal income taxes, it actually received a $156 million rebate from the IRS, according to SEC filings.
Bank of America received a $1.9 billion tax refund from the IRS last year, even though it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.
Sen. Bernie Sanders: End Tax Breaks for Profitable Corporations

But yeah corporations are leaving because of our "oppressive" tax system.
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Old 03-28-2011, 10:21 PM
 
Location: Round Rock, TX
4 posts, read 20,299 times
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Wow... Ever heard the saying "Give a monkey a gun"? Well, give a Liberal a computer and access to the net.....
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Old 03-28-2011, 10:26 PM
 
10,854 posts, read 8,737,441 times
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Quote:
Originally Posted by lifelongMOgal View Post
Neither does trickle-up poverty the Marxist redistributive wealth kind of way.
Funny because poverty increased at a higher rate under the administration of George W. Bush Jr. than any other two term President in the last 50 years.

In fact over the last 50 years two term Republican adminstrations have done a much worst job reducing poverty when compared to Democratic administration.

Bush 43
Americans Below The Poverty Level
2001 - 32.907 million 2008 - 39.829 million - increase 21.04%

Overall Population Growth
2001 - 281.475 million 2008 - 301.041 million - increase 6.95%

During the Bush 43 Administration poverty INCREASED three times faster than rate of population growth.

Clinton
Americans Below The Poverty Level
1993 - 39.265 million 2000 - 31.581 million - decrease 19.57%

Overall Population Growth
1993 - 259.278 million 2000 - 278.944 million - increase 7.58%

During the Clinton Administration poverty DECREASED 2.5 faster than the population grew.

Reagan
Americans Below The Poverty Level
1981 - 31.822 million 1988 - 31.745 million - decrease 0.24%

Overall Population Growth
1981 - 227.157 million 1988 - 243.53 million - increase 7.21%
]During the Reagan Administration poverty was relatively flat compared to population growth.



Nixon-Ford
Americans Below The Poverty Level
1969 - 24.147 million 1976 - 24.975 million - increase 3.43%

Overall Population Growth
1969 - 199.517 million 1976 - 212.303 million - increase 6.41%

During the Nixon - Ford Administrations poverty INCREASED about half as fast as the population grew.


Kennedy-Johnson
Americans Below The Poverty Level
1961 - 39.628 million 1968 - 25.389 million decrease 35.93%

Overall Population Growth
1961 - 181.277 million 1968 - 197.628 million increase 9.02%

During the Kennedy-Johnson Administration poverty DECREASED about four times faster than the population grew.

An strong argument could be made the economic stewardship of the Bush 43 Administration was the worst of any President post World War II.
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