Everyone should be in favor of reducing taxes on the "rich"

Discussion in 'Economy' started by BaronVonBigmeat, Sep 1, 2008.

  1. BaronVonBigmeat
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    BaronVonBigmeat Senior Member

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    Anti-Obamanomics: Why Everyone Should Be in Favor of Reducing Taxes on the "Rich" - George Reisman - Mises Institute

    Contrary to popular belief, high taxes are not passed along to consumers in the form of higher prices. Businesses are already charging as much as they can, on average. However, taxes will have a crippling effect on businesses' ability to invest in the future, hire more people, and expand.

    Translation: don't eat your seed corn.

    Translation: you can't have higher living standards without higher productivity! There is no way around this. The prices of things--manufactured goods at least--should be going down over time, if production output grows faster than the population.
    Supply-siders, pay attention. Tax cuts without spending cuts aren't really a cut. Instead of bleeding the economy dry via taxes, the government bleeds the economy dry by soaking up funds that could have been loaned to businesses.

    Cliffs Notes: If governments want businesses to remain somewhat competitive, they'll have to avoid taxing them, just like Sweden did. If they refuse to cut spending, like Sweden, they will have to put big taxes on ordinary working people. Which is kind of pointless--taking money from John Q. Public only to turn around and give it right back to him (minus handling fees of course).

    No wonder so many people have a distaste for "free" market economics.

    George Reisman, Ph.D., is Pepperdine University Professor Emeritus of Economics. His web site is Capitalism: A Treatise on Economics. His blog is at George Reisman's Blog on Economics, Politics, Society, and Culture.
     
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    Last edited: Sep 1, 2008
  2. editec
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    editec Mr. Forgot-it-All

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    There's plenty of money in the monied classes to invest.


    Nice try , but I'm not buying it.

    When we cut taxes on the very welathy, they have all sorts of money to invest and so they do...and then what happens?

    financial Bubbles happen, that's what happens.

    There's a whole LOT of investment capital chasing too few profits, that's what happens. In other words, all that spare capital ends up INFLATING THE COST OF INVESTMENTS beyond their potential worth.

    Yeah, we're aalready like the most productive society on earth precsiely because we are the most captialized nation on earth (more dollars invested per worker than anyplace I know of), we're awash with STUFF already and you really think that we need more capital investment chasing the same investments that aren't making enough money because the consumer class is going broke?

    THIS is the best a Doctor of Economics can come up with...a rehash of the failed trickledown theory?

    Does this clown not know his history? does he not know that trickle down economic keeps failing? It failed in the late 19th century, it failed in the early twentieth century, the late 20th century, and it wil fail again in the early 21st century, too.

    Too much investment capital, taken from the consumer classes, inevitably leads to the same thing over and over and over again.

    It causes bubbles in markets which pop!, and then we suffer a period of slowed economic activity.

    The problem isn't that the rich don't have enough capital, it's that our economy is drive by consumerism, ye over educated but apparently not very well ninny!


    Finally, a glimmer of sense! Yes, cutting taxes without cutting expenses is ANOTHER EVEN WORSE KIND of mistake our Republican chumsn ahve been making for the last two decades.

    Partial credit. Given the idiocy of the way we do FREE TRADE, higher taxes DO drive industry out of the nation, I quite agree.

    None of us really have a clue what a free market cpaitalist society would look like.

    I suspect it would look like a lot like Somalia, but hey, I could be wrong. It might look like utopia...for about three people or so.

    George Reisman, Ph.D., is Pepperdine University Professor Emeritus of Economics. His web site is Capitalism: A Treatise on Economics. His blog is at George Reisman's Blog on Economics, Politics, Society, and Culture.[/quote]
     
    Last edited: Sep 1, 2008
  3. DiamondDave
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    DiamondDave Army Vet

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    Try it simply like this....


    Everyone should be at equal burden % taxation...


    Taxation, like justice, should be blind... it is not up to the government to have 'feelings' and subjectivity in terms of taxation... everyone pays the same share of their income in a simplified system that has loopholes eliminated.... THAT is what I support... not trying to do it for one part of the population or the other part
     
  4. Shogun
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    Shogun Free: Mudholes Stomped

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    naw.. i think it's time to kick the upper class square in the balls. don't like it? Move to dubai.
     
  5. DiamondDave
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    Yeah... because a country based on equal rights and equal treatment needs to punish one economic class within their borders :rolleyes:
     
  6. editec
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    editec Mr. Forgot-it-All

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    Sure, just as soon as everyone starts out with the same money, that's a capital idea.


    You aren't interested in Justice, you're interested in equality, but ONLY in the issue of taxation.

    If you were really concerned with justice, then you'd ALSO be concerned about the injustice of enormous income disparity.

    Are you?

    I think not.
     
  7. Ravi
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    Ravi Diamond Member

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    This is an excellent point and exactly what happened with the mortgage crises. Lots of money in the IMF looking for a place to be invested got invested in American real estate. And that greed driven idiocy is hurting us now.
     
  8. DiamondDave
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    Noooooo.... no way.. .trying to bring in communist redistribution in??/ Guess again... All people are endowed with the same rights of life liberty and the PURSUIT of happiness... it is our decisions and our efforts that lead us where we are and lead us to a place where we decide what is left to our family when we leave.... it is not up to government to force equal handouts for unequal risk/effort/etc...


    but nice try

    And your second mistake... I am interested in equality in ALL aspects... equality on race, religion, sex, creed, etc... nobody has the right to be held higher, just as nobody else has the right to infringe on the individual rights of others.... the results of your labors are the results of YOUR labors... you have the RIGHT to succeed just as you have the RIGHT to fail.... with equal TREATMENT and equal application and adherence to law, does not come wealth redistribution....

    We are created equal.... we do not all do the same things in our lives to 'deserve' equal compensation... we are not a goddamn hive
     
  9. Shogun
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    indeed. When that class operates to the detriment of everyone else? hey, again, don't like it? I hear there is a shiek building an island just for you.
     
  10. DiamondDave
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    And when the other classes operate to the detriment of the concepts of freedom and equality, they should then be forced or asked to move?


    Nope... I will still with trying to ensure and call for the return of equal treatment by government, not a punishment and redistribution system based on 'feelings' of appeasement and guilt...

    With freedom comes risk... and with freedom comes the acceptance of the outcome that you have chosen... your freedom, your choice, your result....

    Unlike those calling for this marxist crap who wish to sacrifice their freedom for big mommy government to come kiss the boo-boos and make it all better, by taking all those nasty wasty personal responsibilities, that are so hard, back from you so you don't have to really think and do for yourself anymore... someone else will always provide when you feel you can't or you feel that you don't want to.... :rolleyes: :eusa_boohoo:
     

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