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I have a family member who has made over $1 million dollars a year for the last 15 years. He did it by studying and hard work. And today him and his brother by investments, now own a boat related business worth $20 million dollars. I love them both, and they love me. I also love their children as if they were my own.
I also have a family friend who is (filthy) rich, he owns his own drug manufacturing company. He has many mansions, boats, and a private airplane. His hospitality towards my family and I is beyond words. He is one of the coolest people I have ever met.
And Bill Gates and Warren Buffet are two of my favorite Americans. I deeply respect Mr. Buffet for taking a stand to change the fact that his tax rate is 1/2 that of his workers. And I admire Bill Gates for his charity work that has improved Americas public schools and saved millions of people from dying.
I do not judge people by how much money they have. I judge people by their character, morals, manners, respect, toughness, kindness, and desires.
Gates couldnt be conducting that charity work if he was giving his money to the government, and your family members couldnt own what they own, once again, if they were giving it to the government.
I agree, its not fair that people pay different tax rates, when will you get upset that 51% of the nation pays ZERO federal income taxes?
The trouble with the trickle down effect in the UK under Thatcherism in the 1980's was that most of the new wealth was centered around London and tax breaks to the wealthy and big business simply spurred economic growth in London and benefited those further down the ladder in London. The industrial workers in other parts of the UK who were losing their jobs at the same time did not have wealthy people in their areas or much investment, therefore the trickle down effect was mainly a London phenomenon and merely increased the gulf between the economy of London and the South East and the rest of the country.
The same was possible true in the US with tax breaks helping certain Cities and regions far more than others.
The trouble with the trickle down effect in the UK under Thatcherism in the 1980's was that most of the new wealth was centered around London and tax breaks to the wealthy and big business simply spurred economic growth in London and benefited those further down the ladder in London. The industrial workers in other parts of the UK who were losing their jobs at the same time did not have wealthy people in their areas or much investment, therefore the trickle down effect was mainly a London phenomenon and merely increased the gulf between the economy of London and the South East and the rest of the country.
The same was possible true in the US with tax breaks helping certain Cities and regions far more than others.
How does allowing people to keep their money create economic growth in one area, while punishing those in another?
How does allowing people to keep their money create economic growth in one area, while punishing those in another?
London was booming after deregulation of the financial service industries in the 1980's whilst the traditional industries in the North suffered heavily. As a result most of the money being made was in London and the South, and those that served this newly emerging wealth were in the South and not the declining mining towns, ship yards or industrial cities in the North. What occurred as a result was a depressed Northern Economy and a booming London and South East Economy. Thatcher as a result was hated in the North of England and relied on the prosperity she bought to the South, in what increasingly became a very divided nation.
The trouble with the trickle down effect in the UK under Thatcherism in the 1980's was that most of the new wealth was centered around London and tax breaks to the wealthy and big business simply spurred economic growth in London and benefited those further down the ladder in London. The industrial workers in other parts of the UK who were losing their jobs at the same time did not have wealthy people in their areas or much investment, therefore the trickle down effect was mainly a London phenomenon and merely increased the gulf between the economy of London and the South East and the rest of the country.
The same was possible true in the US with tax breaks helping certain Cities and regions far more than others.
agreed to some extent, as the NYC area saw the same phenomenon
but the united states has pretty diverse ownership .. shareholders and landowners all over the country got rich from our deregulation.
London was booming after deregulation of the financial service industries in the 1980's whilst the traditional industries in the North suffered heavily. As a result most of the money being made was in London and the South, and those that served this newly emerging wealth were in the South and not the declining mining towns, ship yards or industrial cities in the North. What occurred as a result was a depressed Northern Economy and a booming London and South East Economy. Thatcher as a result was hated in the North of England and relied on the prosperity she bought to the South, in what increasingly became a very divided nation.
Trickle down policies is simply allowing people to keep more of their money with the idea that they will spend it on things like boats, cars, etc, which generate other jobs..
So why isn't trickle down working now, those at the top end are making record profits, companies executives, stock market up.
They are making what they make because we once again, are not practicing trickle down, we are practicing policies which push people down, and then act shocked that those on the top benefit by less competition and other economic results of the government propping up poverty.
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