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Not sure if it's "trickle-down" (I never hear free market economists mention trickle down...tends to be more of a straw man term used by opponents of the market), but does it not make sense that allowing productive people to keep more of their money is superior to taking it away and giving it to unproductive people?
The problem is that there's a big mess of laws and regulations that favor the big politically connected banks and corporations. There are major corruptions of naturally occurring market forces right now, which is why I want to pull my hair out when people blame capitalism or the free market for anything these days.
What people need to understand is these tax cuts do not exist in a vacuum. Tax cuts do not put downward pressure on wages. Theoretically, it leads to a uptick in private sector wages.
What is causing the pressure on wages in the West is globalization. Unfortunately the most popular recommended cure, protectionism, will simply make matters worse. This is the era of the consumer and the capitalist. Put as much as you can in your 401K, if you do not have one at work start an IRA. You have to be more active in today's economy.
Just turned 59, never earned more than 70K a year. I could retire at 59.5 if I wish if I had any idea what healthcare would cost in the next half a dozen years.
Of course those who point to stagnant wages as proof trickle down does not work never point to stagnant poverty levels as proof the Great Society's war on poverty has been a massive failure.
Want to divide the budget by the population to see what each and every individual would pay? $10,822.38
That's everyones flat tax. That's your college student. Your McDonalds burger flipper, our oil tycoons, Bill Gates etc.
Care to write uncle Sam a check for $10,822.38 at 2015 level to be fair for all? Or just keep taxing corporations 35% federal plus each states level and cry there are job losses and no careers, and manufacturing and all other avenues going to automation to cut costs?
Want to complain about those who invest? You act as though it's difficult or only for someone drawing 250k plus per year to do...
Sorry there's no magical money trees out there... perhaps instead of crying foul, obtain skills in a field that's in demand, master them, and become marketable to employers until you can save up enough to go into business for yourself...
Deregulation was after the fact. We made a ton of little to no down payment mortgage loans that the free market rarely made.
Quit listening to the clowns that never saw the collapse coming. They don't have the answers and never did.
This is wrong. The reason for the mortgage meltdown was not because of loans made to the lower-classes that is only so much right-wing claptrap.
The reason is deregulation that permitted the securitization of loans which were bundled with other loans that were then sold to investors. Lenders then lowered their lending practices to lend more money to bundle more loans to sell to investors. This unfortunately created a domino effect once the loans went bad.
Who started this practice?
GOLDMAN SACHS!
Who now holds all the power in Trump's White House in financial and other regulatory matters?
FORMER GOLDMAN SACHS EMPLOYEES AND PARTNERS.
Scarecrow Republicans need to go to the Wizard to get a brain. You don't have to be the Wizard to see what the future holds.
Want to divide the budget by the population to see what each and every individual would pay? $10,822.38
That's everyones flat tax. That's your college student. Your McDonalds burger flipper, our oil tycoons, Bill Gates etc.
Care to write uncle Sam a check for $10,822.38 at 2015 level to be fair for all? Or just keep taxing corporations 35% federal plus each states level and cry there are job losses and no careers, and manufacturing and all other avenues going to automation to cut costs?
Want to complain about those who invest? You act as though it's difficult or only for someone drawing 250k plus per year to do...
Sorry there's no magical money trees out there... perhaps instead of crying foul, obtain skills in a field that's in demand, master them, and become marketable to employers until you can save up enough to go into business for yourself...
That's be a sweet deal for me. Where'd you get that number? Because of that 321.4 million, some of them are infants or 3rd graders. You can't have them paying.
This is wrong. The reason for the mortgage meltdown was not because of loans made to the lower-classes that is only so much right-wing claptrap.
The reason is deregulation that permitted the securitization of loans which were bundled with other loans that were then sold to investors. Lenders then lowered their lending practices to lend more money to bundle more loans to sell to investors. This unfortunately created a domino effect once the loans went bad.
Who started this practice?
GOLDMAN SACHS!
Who now holds all the power in Trump's White House in financial and other regulatory matters?
FORMER GOLDMAN SACHS EMPLOYEES AND PARTNERS.
Scarecrow Republicans need to go to the Wizard to get a brain. You don't have to be the Wizard to see what the future holds.
The crisis was caused due to the huge number of subprime mortgages that were being bundled and bought up by Fannie and Freddie.
Politics aside, save as much as you can. I have will save the max allowed until retirement and a catch up of 6,000 more if I can from 50-64. God willing no economic collapse and I will have over a million and a house paid for. I am a Democratic voter by the way. I save, sacrifice, and give to charity. We all have to save as much as we can.
What people have to realize is that 401Ks replaced private sector pensions. You better be funding them. I got a slow start because I worked for a company for 9 years with a pension that would have paid me 60% of my final year earnings at 85 points (age plus years of service). Company changed hands pension went away. Ended up getting a lump sum of 27K for those 9 years last year. Would have been nicer to retire at 53 on 40 to 50K.
The world changes. You better change with it. Truer now than anytime in history.
One thing is certain when companies go under people lose jobs.
Did you think the banks put the money in special rooms with grow lights where the money reproduces to generate that interest?
LMAO. +1
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LMAO. +1
