I don't get it

Discussion in 'Economy' started by MaggieMae, Sep 27, 2010.

  1. MaggieMae
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    MaggieMae Reality bits

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    What's wrong with this picture?

    America's millionaires rebound in 2009 - Mar. 9, 2010
    And

    But

    Census Bureau Report: 1 in 7 in U.S. living in poverty | News-Leader.com | Springfield News-Leader
    If (according to low-taxes-for-wealthy proponents), tax relief is needed because they are the 'real' job creators, after 8 years of already enjoying tax cuts, where are the jobs, if that's what they do so well?
     
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  2. loosecannon
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    loosecannon Senior Member

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    China!
     
  3. Baruch Menachem
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    Baruch Menachem '

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    This is the last year. The fact that there are increases in income disparity during bad times was noted by Adam Smith. As the economy increases, income disparity decreases. As you noted, the year of a really long intense recession with counterproductive and stupid public policy saw huge increases in income disparity.

    Had we cut taxes, the economy would have improved, and there wouldn't have been this problem.

    Businesses survive by selling stuff where marginal cost = marginal revenue. Any time there is a recession, they cut costs hard, and they cut inventories even harder. Inventory is expensive.

    We have had a two year resesession now. The longer it lasts, the harder on the poor.

    0bama and friends used the recession to move policy. They knew stimulus would not work. In all the times they try it, (and it has been a continual refrain in lefty policy circles) it has never worked.

    You cut the taxes as a long term thing, you get the effects of stimulus.

    As far as who gets it, it doesn't matter. Money flows back into the economy, the economy grows and folks hire more folks.

    Revenues for business is the engine here. More revenue= more jobs.

    Stimulus entirely goes to rich connected folks who have a firm hand on the public teat.
     
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  4. Ravi
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    Ravi Diamond Member

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    When Dubya introduced and campaigned for his tax cuts he claimed they would help small business and create jobs.

    Well guess what?

    They didn't.
     
  5. Samson
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    Samson Póg Mo Thóin Supporting Member

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    As long as you can distract Americans with Bill Gate's income of $56 B, they won't wonder WTF happened to $750 B the US Government spent.

    Got it now?

    Good.
     
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  6. Ravi
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    Ravi Diamond Member

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    January 11, 2004


    Two of President Bush's top advisers said Sunday they remain confident the administration's tax cuts will spur job creation soon despite a disappointing hiring report last week.


    "The tax relief the president has given to this economy is working," Commerce Secretary Don Evans told CNN's "Late Edition." "On three separate occasions over the last three years, he's provided additional tax relief for American workers, American families, businesses across America, and guess what? It's working. The results are showing that it's working."


    Bush economic advisers: Tax cuts will create jobs - CNN
     
  7. Ravi
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    Ravi Diamond Member

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    [FONT=Arial, Helvetica, sans-serif]November 18, 2005 [/FONT][FONT=Arial, Helvetica, sans-serif]
    [/FONT]
    [FONT=Arial, Helvetica, sans-serif]NEW YORK - Despite considerable opposition from lawmakers, including some within his Republican party, President George W. Bush seems determined to push ahead with plans to introduce further cuts in taxes for the rich, continuing to assert that it would create more jobs for the poor. [/FONT]
    [FONT=Arial, Helvetica, sans-serif]But the findings of a new study suggest that Bush's claim on job creation is based more on political rhetoric than actual facts related to the nation's economic realities.[/FONT]
    [FONT=Arial, Helvetica, sans-serif]"It's a great sound bite that unfortunately does not hold true in the real world economy," say authors of the report, entitled, "Nothing to Be Thankful For: Tax Cuts and the Deteriorating U.S. Job Market."[/FONT]
    [FONT=Arial, Helvetica, sans-serif]Changes in tax policy suggest no evidence of their impact on job creation or destruction, according to the 22-page study released Tuesday by United for a Fair Economy (UFE), an independent group that tracks the growing economic divide between the nation's haves and have-nots.[/FONT]
    [FONT=Arial, Helvetica, sans-serif]Since 1950, significant tax increases and decreases have both been followed by job losses and job gains, say the researchers. [/FONT]
    [FONT=Arial, Helvetica, sans-serif]Based on statistical analysis of changes in tax polices and rates of job growth in the past 60 years, the report points out that tax reduction does, however, disproportionately lead to economic disparity between the rich and poor.[/FONT]


    Research Dispels Bush Claims That Tax Cuts Create Jobs
     
  8. Ravi
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    Ravi Diamond Member

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    Feb 24, 2004



    President Bush defended his tax cuts yesterday as economic fuel for the small-business sector in response to mounting criticism from Democratic presidential candidates that the cuts chiefly benefited the wealthiest Americans.
    But the president's contention that upper-income tax cuts primarily benefit entrepreneurs conflicts with some of the government's own data.


    Bush Claims His Tax Cuts Help Small Business, Government Data Disagrees
     
  9. MaggieMae
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    MaggieMae Reality bits

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    Fine. Then they don't need tax cuts, right?
     
  10. MaggieMae
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    MaggieMae Reality bits

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    Baloney. Compare a higher tax rate of 39.6 (I think) during the Clinton Administration and the economy was booming. The tax cuts of 2001-2003 were intended to keep the economy booming. So why did it begin to falter in 2007?

    Revenue will start flowing back into the economy when people have JOBS, provided by the businesses run by the wealthy, and they can start spending again.
     

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