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| Name: |
GoneFishin
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| Subject: |
Trickle Down Economics
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Date:
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10/8/2008 7:02:13 PM
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Republicans continue to push lower taxes for the rich. This will bring new jobs and trickle down economic well being for the masses.
The market has lost #2trillion dollars in market value. Middle class jobs are outsourced overseas but they keep saying trickle down works.
Here is an example of a Republican investment banker who lost his job on Wall Street and now sees the effect of trickle down. At least his new job can't be outsourced to India.
URL: http://news.bbc.co.uk/2/hi/7654267.stm
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| Name: |
MartiniMan
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| Subject: |
Economics Lesson
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Date:
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10/8/2008 9:26:54 PM
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You wrote, "Republicans continue to push lower taxes for the rich. This will bring new jobs and trickle down economic well being for the masses."
How many jobs are created each year by the poor? NONE. I know it is appealing to use class envy to redistribute wealth, and that is a sure fire way to buy votes. But the fact is the alleged wealthy create jobs for the middle class. In fact, the wealthy created the middle class. My froend, it is a hard truth but the fact is government creates nothing! Government is that fiction by which everyone lives at the expense of everyone else (Bastiat). If you look at job and wealth creation since the Reagan Revolution of lowering taxes you will see that it is true. I also refer you to a quote by John F. Kennedy where he stated the essential truth that lower taxes spurs economic activity. I can't for the life of me understand how otherwise intelligent people such as yourself refuse to learn from history. It is sad and perplexing.
You wrote, "The market has lost #2trillion dollars in market value. Middle class jobs are outsourced overseas but they keep saying trickle down works."
The market has indeed lost a lot of value. But that loss of value was caused by a crisis in confidence resulting from the failure of sub-prime mortgages that were created by the market distortions of Fannie Mae and Freddie Mac. Those distortions were directed by Democrats and their willing accomplice RINOs in Congress. Barney Frank continues to support that discredited approach even today. But I would ask you, where in the world do you think the market value comes from in the first place? It comes from allegedly "greedy" corporations and the wealthy creating goods and services and the jobs that come with the goods and services. Are you really so blind a partisan that you cannot admit that undeniable, absolute truth?!?!? As Dick Armey so aptly put it, Democrats love jobs but they hate the businesses that create them. It is just intellectually bankrupt.
And jobs are sent overseas because the U.S has the second highest corporate tax rate in the world!! At 35% it is an outrage and I can't blame one business for moving overseas because why should they stay here and give such a huge percentage of their profits to the government in the form of taxes. Not to mention the fact that corporations don't really pay taxes anyway. All taxes are paid by you and me in the form of the cost for the goods and services we purchase. If you want the trillions of dollars of cash that is being hidden overseas to come back, if you want jobs to return here in droves, then vote for a candidate that will lower taxes on businesses and the wealthy, reduce government interference and reduce the size of government. And that is not Obama/Biden. It is only McCain/Palin in terms of degree but they are wildly preferable to the tax and spend policies we will get with Obama/Pelosi/Reid.
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| Name: |
GoneFishin
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| Subject: |
Economics Lesson
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Date:
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10/8/2008 10:09:36 PM
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Did you at least look at the video?? Don't you have any empathy for the dude who lost his Wall Street job???
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| Name: |
MartiniMan
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| Subject: |
Economics Lesson
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Date:
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10/8/2008 11:31:48 PM
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Of course I have empathy for anyone that has lost their job. I have some very dear friends that have recently lost their jobs. But my point is how does increasing the tax burden help them in the least? What will help them, and this is an undeniable truth, is to reduce the tax burden on businesses so they can do what they do best, what they exist to do, and that is create jobs and prosperity. I understand the visceral appeal to getting even with the "rich" but all that does is hurt the middle class. I can tell you that taxes hurt my business and my ability to grow and add jobs. I recently closed our operations in California because after 5 years of trying we couldn't make money because of taxes and regulatory burdens. That is real life and five people making between $65K and $140K are on the street looking for a job. It breaks my heart to have to make a decision like that but after years of losses we could no longer justify being in that state.
If we reduced capital gains taxes, corporate income taxes, personal income taxes on those in the economy that create jobs we would unleash the economic engine, capital would flow back into the U.S. from the tax havens and as we saw after Reagan cut taxes, revenues to the Treasury will increase. It has worked every time it has been tried. Even Tom Brokaw pointed that out to Obama and he just wouldn't listen because he believes class envy is his ticket to power....and he may well be right. But will he help that Wall Street guy who lost his job? Nope.
Look, if you want to go that way then fine. Just don't insult our intelligence by acting like it actually makes sense or will work because it doesnt and it won't.
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| Name: |
AUCATZ
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| Subject: |
Trickle Down Economics
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Date:
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10/9/2008 9:17:40 AM
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Business creates jobs - small, medium, and large businesses. They aren't all rich folks - the great majority of businesses are small ones. More taxes on business means less money to grow, thus less jobs. I feel for anyone who loses their job (except for the wealthy CEO's who take their golden parachutes and run). However, I don't expect the government to bail me out. If you want to really define why jobs have left the U.S., look at the unions, look at NAFTA and CAFTA. Heck -look at Alex City, and all the other 'textile towns' in the South. Jobs went overseas where the wages are less than $1 a day. Thanks to Democrats and Republicans alike for the legislation that destroyed this industry in the South.
That elderly lady Tallulah mentioned in another thread was right - we need to learn to buy what we can afford, and to not expect handouts. That $1200 'tax rebate' the government gave this year really did a lot of good didn't it? Obama wants to give us one of those again. Will that help anyone who is losing their house? Is it my fault someone bought a $300k house and got snookered into a mortgage where they only paid interest?
I went to work when I was 16 years old. My kids did that too. We were taught to work for what we wanted - to EARN it. Never accepted government handouts and don't intend to. It's a lesson everyone should learn. Help the disabled, help children...provide jobs to those able to work, and demand that they work. That's the American Way.
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