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.
How is it corporations have been making record profits, sitting on record piles of cash, and raising their CEOs salaries substantially in this so called anti-business climate?
It is simple ... You buy the things they make and sell ! ! !
.
So the "rich" are saving instead of spending. They are paying down their debts and accumulating a cushion of liquid assets. They think the stock market is more risky and have no confidence in the future.
And you think this is bad ? Everyone should have this mentality..save more, spend less and pay down debt.
Self induced austerity....a bad thing in this consumer, debt ridden society of ours.
Instead you have those in debt spending more and going deeper in debt.
Our government refuses to acknowledge a spending problem and so they will not deal with it.
Lots of words coming from DC but little action. What we do see is more spending with not a care on how it will be paid for.
How can a country "recover" when it is spending more than it takes in and it's people are living with debt that will take decades to pay off ?
If you were smart you'd be doing the same thing. Remember your history. During the Great Depression, those that made it through it and benefited from it had savings and little debt.
How is it unfair? What harm is coming to a person by having 5 million instead of 50 million?
Do you understand that, in theory, dollars are finite, and rich people do not have proportionate consumer demand as a percent of their total income as poor and middle class people?
Therefore, the money will naturally all filter to wealthy people. The only way it gets back is investment, or taxation. Guess what though, rich people dont invest when there is no demand, and demand by the "99%" is eroded as more money ends up in the hands of the rich. Its an endless circle, that ends up with accelerated accumulation of wealth by the rich, like weve seen over the past 3 decades.
So, if the rich arent dumping it back in through investments, it becomes NECCESSARY to tax it out of them.
Here is the problem with your premis. If you move to tax business, they simply move their investments to another country. Hence even more unemployment. They also increase their prices in order to offset the increased tax. This is not dollar for dollar, because they not only have to pay the tax, they have to offset the administrative costs of paying the tax. Hence, YOU pay their tax, and YOU pay more. Business is not in business to create jobs, or to pay taxes. They are in business to make a profit and it is in their best interest and in the best interest of their investors that they maximize their profit. Business does not exist for YOU.
^^^^^Too bad our current President doesn't understand this.
You also have some states that don't understand it as they have raised taxes and saw their revenue drop as well as their wealthy population counts.
For all that everyone bashes Texas about not spending enough money, we made out pretty good in the census. We gained 4 seats in the House due to all the transplants from high tax, high cost states who decided to move to Texas. A surprising amount of transplants came from California, the most liberal state.
Obama is right to give the benefits and money to the middle class... they spend it to live and pump money into the economy..... face it a billionaire is 1 person they can only buy so many fancy cars. and those cars don't keep Detroit spinning.
A large house being built hires a few construction people but then its over when done.
The rich just can't spend what they make in a way to make an impact, not like the middle class can.
Obama is right to give the benefits and money to the middle class... they spend it to live and pump money into the economy..... face it a billionaire is 1 person they can only buy so many fancy cars. and those cars don't keep Detroit spinning.
A large house being built hires a few construction people but then its over when done.
The rich just can't spend what they make in a way to make an impact, not like the middle class can.
Well the middle class are also the ones dependent on SS and medicare so cutting FICA isn't helping them.
No government who is buddy buddy with the super rich and rich are going to suggest to their friends - they had better stop being so cheap and start spending. Instead they are going to watch as the rich hoard and store their money...and cry out they need more- THEN the poor tax payer is stuck sending a huge welfare check to the insecure rich in the form of a bail out...Why did the rich not use some of their own personal money to bail themselves out?
It is as if...a person stock piles a million bucks in gold in their basement...is worried that his pile might get smaller. So he goes to the welfare department to apply for assistance...You would think they would part was a few gold bricks and do some good with the money...Maybe hire someone to paint the house...or even dust off the gold?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
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.
