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Republicans say giving the rich lower tax rates than everyone else creates jobs and improves the economy.
But in reality new high demand products, new markets, and consumers spending money (that's what creates jobs and economic growth.)
The rich use their trickle down tax cut money to buy new jet airplanes, buy mansions for their kids, and buy vacation homes in Europe.
Who makes those things and services those needs?
btw the rich reinvest in their business and we the people, the very same ones who make the planes and mansions you mentioned, are hired and see the benefits right away. The business sees its returns down the line.
That's why its not trickle down and no such economics like that exist.
How does giving the rich and large corporations lower tax rates than everyone else, create jobs or improve the economy?
Their tax rate is 40%. What are you paying? 50%? 60%? 75%?
How does it work? Well these rich are greedy, right? They pay $7.25 to somebody for working for them. After overhead and taxes they get $14.50 in net profit for the $7.25 they paid. Thus, they doubled their money. But the more they have to pay in taxes the less they have to hire people with. Of course, there must be some taxes. According to a study done by the United Nations of several countries around the world, governments recieve the highest tax revenue when businesses are taxed at a rate of 25%.
Under President Bush lite (Obama), the top earners of this country have fared far better than the rest of us and have seen massive gains in their pocket books, yet many middle class individuals struggle and social mobility isn't getting any better.
I mean, I thought the wealth trickled down to all the rest of us......right?!?!?!??!?!!?
Trickle down never worked for the middle class, as it always stayed at the top.
Jobs more likely go overseas now than here. Americans are not loyal to buying American. They have no loyalty. They buy the cheapest product, period. As a result jobs go overseas.
I used to buy American when I had a job that paid well but now I have to shop cheap. I would never have shopped at Walmart before but now it's my store of choice. I can't live on a teacher's salary and my savings from my engineering days will be depleted in about 4 years. I'm praying they start giving teachers raises again. I've had one in 5 years and it got taken away in a pay cut this year. I no longer have the income to be picky. Sometimes I think of all the money I wasted buying American and how much better I would be if I had shopped cheap back then too. Buying American didn't save my job.
What came first..............the chicken or the egg.........
How can you buy american when all the american companies closed doors and took it overseas.........
Technology and automation have further increased the profitability of corporations but the global economy allows the chinese to produce cheap knockoffs as well... meanwhile the feds qe has mainly benefitted the top 1% resulting in stock and bond market bubbles yet again.
Since the average working class dont have the money to invest they do not participate resulting in further wealth concentration... meanwhile inflation adjusted wages are lower than ever.
Should companies increase their wages their share price would fall hurting the top 1% while helping everyone else. It would also cause some price inflation which isnt necessarily a bad thing since people with fixed debt like a mortgage could pay it off with cheaper dollars.
Trickle down trickles down into China more than anything....
Their tax rate is 40%. What are you paying? 50%? 60%? 75%?
How does it work? Well these rich are greedy, right? They pay $7.25 to somebody for working for them. After overhead and taxes they get $14.50 in net profit for the $7.25 they paid. Thus, they doubled their money. But the more they have to pay in taxes the less they have to hire people with. Of course, there must be some taxes. According to a study done by the United Nations of several countries around the world, governments recieve the highest tax revenue when businesses are taxed at a rate of 25%.
They don't pay those taxes.
Number 9 is my favorite, mostly because it's how right-wingers propose poor people should survive in this world, and yet it proves that charitable giving is mostly a con game to avoid taxes.
Their tax rate is 40%. What are you paying? 50%? 60%? 75%?
How does it work? Well these rich are greedy, right? They pay $7.25 to somebody for working for them. After overhead and taxes they get $14.50 in net profit for the $7.25 they paid. Thus, they doubled their money. But the more they have to pay in taxes the less they have to hire people with. Of course, there must be some taxes. According to a study done by the United Nations of several countries around the world, governments recieve the highest tax revenue when businesses are taxed at a rate of 25%.
You forgot to mention the part where businesses and the rich use a multitude of lawyers to find the available loopholes and marginally legal "tax shelters to pay little or no taxes. The lawyers are also tax deductions...........
How does giving the rich and large corporations lower tax rates than everyone else, create jobs or improve the economy?
Because it has never worked before but then the progressive left has the slogan "just because it has never worked before and killed millions of people is not a valid reason not to try it again". I honestly believe the left believes in that slogan. They are just that evil.
Here's an evil right wing believer that tax cuts help everyone:
Let's take the tax rates around the period of 1955 when adjusted for inflation $1.00 in 1955 would be equivalent to $8.88 today
Reviewing the tax brackets for 1955 someone earning $0 to $4,000 (equivalent to $0 to $35,520 today) was taxed at a 20% rate while someone earning $32,000 to $36,000 ($284,160 to $319,680) was taxed at a 50% rate.
To gladden the heart of any progressive those that made a lot of money, say $300,000 or more which would be equivalent to $2.6 million, faced a tax rate of 90% or better.
But for all these high tax rates if you look at the receipts to the treasury in terms of GDP hovered around 16% to 18% of GDP.
In fact if you look at receipts to the treasury in terms of percentage of GDP it has always stayed pretty much the same regardless of what the tax rate has been.
The left is so stupid, so very retarded, they actually believe if you raises taxes revenues will actually increase to the treasury when history has shown that simply isn't true.
If you look at the tax table for 1963 you will see the tax rates were virtually unchanged from 1955. In 1963 receipts to the treasury were 17.2% of GDP.
In 1964 President Kennedy's tax cut (and to think people call it "Reaganomics") went into effect very substantially lowering the tax rates for everyone. The highest rate went from 91% to 77% and dropped for everyone else.
As a result the percentage of GDP to the treasury dropped from 17.2% to 17.0% but the money actually going to the treasury INCREASED from $709.5 billion in 1963 to $737.5 billion (amounts given in constant 2009 dollars) in 1964 even though the tax rates dropped and dropped substantially.
How can this be? Kennedynomics, gentlemen. Kennedynomics! And to think some actually call it Reaganomics!
But the real amazing this is look at what happened over the rest of the 1960's. Tax rates were down but there was a huge economic boom which you can see in terms of constant 2009 dollars flowing to the treasury. Imagine, a tax cut actually increased dollars flowing to the treasury!
But if you look at it closely history has shown every time there has been a tax rate cut the money to the treasury has actually increased. The reverse is true, every time there has been a tax increase the amount of money (Bush read my lips, no new taxes) to the treasury has actually fallen.
To the mentally challenged and retarded this doesn't make sense but ask yourself a simple question/ "How hard would I work knowing someone was going to take 90% of what I earned after a certain level of earnings?" The answer is obvious, if government is gong to rob you your going to stop working.
Would you work for free?
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This. 
