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So this will be like the third time the GOP tries the theory of lowering taxes for the super rich. Perhaps GOP supporters should explain why other attempts didn't work and why this time it will be different.
Will these billionaires hire Americans to work on their yachts and on their estates?
When we lower taxes for the rich, the money goes to spending and investment - both will create jobs.
When we lower taxes for the poor, if they even pay taxes, the money, little as it is, goes only to spending.
The real point is that nobody, rich or poor, should be paying taxes on their legally earned income.
The Reagan years and triple down economy are gone. It doesn't work. The rich want to keep their profits and could care less what they pay their employees. Unions are the way to go. They negotiate wages and benefits.....unlike companies who say take our plan or don't work for us. But yet some of you hate unions. I just don't get that.
Of course trickle down doesn't work. Here's how things work in the real world.
1. The rich spend money on investment, say, building a new shopping center.
2. All the workers, suppliers, contractors and subcontractors of the builder are paid right away.
3. However, it will be years before the rich blood sucking greedy investor see a penny of return.
In the business world this is calculated as Return on Investment or ROI.
The point is the money doesn't "trickle" down. It goes down IMMEDIATELY.
Poor people spend everything they earn, so they create demand which creates jobs.
Rich people pouring more money into overvalued investments doesn't create jobs. No business is going to hire anyone unless there's an increase in consumer demand.
We've been doing supply-side economics for 37 years. Now, most investments are overvalued (because of the massive transfer of wealth from the poor and middle class to the top) and the poor and middle class have very little "disposable" income to spend. The stock market is back up while the "real" economy is still suffering.
Poor people spend all their money, so that money goes immediately back into the economy. Wealthy people do not spend all their money (they cannot, too much to spend) so that takes money out of the economy and in the worst cases takes money out of the country altogether into off-shore accounts.
It's middle-class people who create jobs. Not rich people. Not poor people. Middle-class people.
Exactly. WE spend the money that keeps this economy going.
Quote:
Originally Posted by pbmaise
So this will be like the third time the GOP tries the theory of lowering taxes for the super rich. Perhaps GOP supporters should explain why other attempts didn't work and why this time it will be different.
Will these billionaires hire Americans to work on their yachts and on their estates?
Listen - it didn't work then and it won't work now. But the Koch brothers just held a secret meeting with 18 Republican congressmen that IF they don't get taxes lowered, etc - their campaign funding money well is gonna dry up.
Poor people spend everything they earn, so they create demand which creates jobs.
Rich people pouring more money into overvalued investments doesn't create jobs. No business is going to hire anyone unless there's an increase in consumer demand.
We've been doing supply-side economics for 37 years. Now, most investments are overvalued (because of the massive transfer of wealth from the poor and middle class to the top) and the poor and middle class have very little "disposable" income to spend. The stock market is back up while the "real" economy is still suffering.
Perhaps it's time to try something different?
What?? Keynesian economics has been the mainstream since at least Nixon. Austrians have been railing against demand side policies for decades or more...Rothbard, Friedman, Ron Paul in recent years, etc.
It's a lot like how people attribute things to the free market in areas that have high levels of government intervention. It just makes no sense to me.
I've even had the same people say that "libertarian" policies are ruining the country, and at the same time claim libertarianism is irrelevant, dying, or will never be more than a fringe movement. It's like they just go with any idea that fits their narrative, even if it's contradictory.
Yay! One of the Alt right's favorite things! Yet, Another thread bashing poor people!
Of course, it is the fault of the poor people that they are poor...and after all they really aren't real human beings like the rich people! Why should they have things like money and property?
And if they did have money they wouldn't use it to create employment...they would use it to fund their elaborate lifestyle,
hoarding their wealth and refusing to pay their own employees a decent amount of income...while putting it all in an account in the Kayman Islands and create tax shelters to avoid paying into the tax system. That's what poor people would do!
They would never go shopping, buy food and clothes for their family. Or get Medical Care. Or go on vacation.
Get furniture. Because, for heaven's sake...that just might create some jobs!
sorry, but you have a warped vision.
this is not a poor bashing thread.
it states the fact that 99% of the workers out there work/got their job, from someone who has had success.
in todays American society, there are too many people with their hands out, always looking for a hand-out/welfare from cradle to grave.
a poor person can and will be successful if they work hard, study, apply themselves.
I grew up poor,,, I gave my blood, sweat, and tears to make something of myself... I don't want a hand-out.
in todays society, too many want free welfare for life, free school.
let's look at bernie sanders thing about free college
the way I did it, was I applied myself and got good grades in primary school, worked my way through college, got a entry level job, PROVED MYSELF and my worth, got promotions, and have become a supervisor/expert in my field... my degree got me a start and my motivation is what makes successful.
now let's look at free college for everyone...so the slacker from high school can slack his/her way through college taking 8 years to get a 4 year degree (the C's get degrees mentality) and you are saying that that degree is equal to my degree?? free college just lowers the bar, and the worth of those degrees.
the liberal mentality of trickle up poverty doesn't work...or you can say it works too well, liberals are killing the middleclass
Democrats and the left wing are so against wealthy people who create and created jobs as it is well proven!
Wealthy people own large and established corporations. And in today's America small/medium sized businesses and startups create the overwhelming majority of new jobs.
"During the 1990s, American multinational companies added 2.7 million jobs in foreign countries and 4.4 million in the United States. But over the following decade, those firms continued adding positions overseas (another 2.4 million) while cutting 2.9 million jobs in the United States."
From 1990-2010 large corporations created 1.5 million jobs in America and created 5.1 million jobs in foreign countries.
But the wealthy people who own the large corporations give the republican party huge amounts of campaign money, and the republicans give the wealthy and large corporations the tax cuts (while they say "the wealthy and large corporations create all the jobs.")
Last edited by chad3; 06-27-2017 at 11:29 AM..
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