How many jobs = almost a million dollars?

Discussion in 'Economy' started by AllieBaba, Oct 16, 2008.

  1. AllieBaba
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    AllieBaba BANNED

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    People say that the way to help middle class America is to penalize the wealthiest 1 percent.

    Well if the wealthiest one percent, those making over $2 million a year, have to pay 50 percent in taxes, how many middle class workers will they need to lay off to maintain their profit margin?

    I know my family has already laid off housekeepers and landscapers, and my sister returned to work after retiring. They are not traveling as much, which means those dollars are taken out of the economy....

    So someone please tell me how increasing the taxes of business owners is going to help the middle class?

    Obama and McCain Tax Proposals - washingtonpost.com
     
  2. dilloduck
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    dilloduck Diamond Member

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    It won't . They invent numbers and concoct plans for people like Joe the plumber to get elected. After that the best laid plans all get shot to hell by reality.
     
    Last edited: Oct 16, 2008
  3. Navy1960
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    Navy1960 Senior Member

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    It's all in a name, for the average person when they get a tax break, i.e. those below that magic 250K mark it's called a tax break. When expenses go up as a result of tax increases on corporations, and layoffs begin as a result of increased operation costs. Those have different names in the plan, those are called "inflation" and "unemployment" not tax increases. It's all in how they present the deal. However, when your an average person with a big tax cut under the plan and then you lose your job how much benefit your going to get. The end result here is corporations are not going to suffer in this environment, the average American is.
     
  4. AllieBaba
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    Exactly. In addition, those who have to pay the increased taxes are going to put less money into the economy as consumers. They're slowed down the spending already. Zap them with higher taxes and we will all pay the price.
     

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