Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 05-22-2012, 10:20 AM
 
26,694 posts, read 14,569,031 times
Reputation: 8094

Advertisements

First of all, we need to understand that capital - money is the fuel of economy. The American economy has been strong because we are able to attract a lot of capital from all over the world because 1) relatively low tax rate, 2) political stability, 3) mature legal and regulation systems, and 4) a large well educated and well trained workforce.

So anything we do to increase the capital flow to the economy but not to the government welfare will create jobs.

Taxing the rich doesn't help create job in one way or another because when we talk about taxing the rich, we are talking about "income tax." Most capital or money doesn't sit as income; they are mostly held by large corporations, which are owned by the rich.

The whole income tax system we have is very unfair because it creates a system of "taxation without representation." While the rich pays the most tax, people, particularly the poor, who don't pay taxes still get to vote and get most benefits. It would be much better to switch to a consumption based tax, which eliminates the whole taxing the rich or socialism argument. And it's fair to everybody.

Having said all these, the best way to create jobs is to reduce or eliminate corporate tax and capital gain tax completely. Obviously we need some other tax systems to compensate but this will definitely encourage individuals and corporates to invest.
Reply With Quote Quick reply to this message

 
Old 05-22-2012, 10:24 AM
 
Location: Dallas, TX
31,767 posts, read 28,822,592 times
Reputation: 12341
Before this triplication of the thread ensues... you could make that argument in...

Jobs: Rich People/Corporations or Consumption of Goods and Services

Since it is ultimately going to be pretty much the same arguments.
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6. The time now is 02:32 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top