Zoomie1980
Senior Member
- Jan 16, 2008
- 1,658
- 128
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[/QUOTE]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.
Nothing "trickle-down". It is simply fundamental Economics 101. About as basic and simple as it gets.