davejann wrote:
I think that argument is a bit overstretched. I agree, there will always be complainers but to pay for the 1%ers tax cuts by decreasing moneys to feed, educate and provide police and fire protection for our future, is equally unjust and even if we only remove the tax cuts bringing things back to where they were, there would still be wealthy persons complaining that they were paying too much tax.
Remember, making things difficult for the poor has historically been a prelude to strife.
Dave
br I think that argument is a bit overstretched. ... (
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Dave,
It may be overstretched but let's take a couple of steps back & ask why are the poor, poor? Usually, it's because they're out of work. We've been at double-digit unemployment now for a number of years. Trust me. I know. It hasn't been this bad since the Great Depression and in fact, on a per capita basis it's worse.
This is simple supply side economics. When Carter, Reagan & Bush all cut the capital gains tax, the money in the federal coffers increased. Reagan literally double the numbers during his tenure. When he took office, there was ~$400 trillion in federal monies. When he left, it was ~$900, yet he's blamed for one of the worst deficits in history.
A lot of people seem to forget that we had a democratically controlled congress that was spending money faster than it was being collected.
This is simple math which is lost on people that can't balance their own checkbooks. If the goverment has to raise $100 in tax from 100 people, each pays $1.00. Cut the jobs in half & now the remaining 50 pay $2.00. Keep doing this until there's one person left with a job & that individual pays the whole $100 in taxes to support the remaining 99.
What's ironic is that with all the "rich-don't-pay-their-fair-share" rhetoric, the remaining 99 aren't resentful that they no longer have jobs. They're resentful the the one person who can pay does!
Suppose I'm a 1%er who has millions to spend on business expansion that could create jobs. These new employees will pay taxes on their wages which will help offset the capital gains cuts. More importantly, it will give them disposable income to spend on goods & services from other companies who in turn, will need to hire more employees, etc, etc.
Now if I have this money to spend during an administration that imposes stifling tax restrictions on me (literally penalizing me for growth), what do I do? Should I go ahead & make the expansion and cross my fingers? Or, should I ship the money to the Caymen Islands waiting either to retire or be able to turn around without finding Big Brother's hand in my back pocket YET AGAIN?
quote=davejann br I think that argument is a bit... (