Tax breaks for the rich?

[GoDemocratic]

Does tax breaks the rich really improve the economy or is it a GOP scam.

 

[Billo_Really]

Does tax breaks the rich really improve the economy or is it a GOP scam.

GOP scam.

 

[GoDemocratic]

Does tax breaks the rich really improve the economy or is it a GOP scam.

GOP scam.

Thanks, I'm going to remember you.

 

[Slyhunter]

Well taxing them too much makes them take their money elsewhere. So they don't spend it here. And that is bad for America.

 

[June 7 2017]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

 

[June 7 2017]

Well taxing them too much makes them take their money elsewhere. So they don't spend it here. And that is bad for America.

In today's Internet age, they'll leave anyway.

 

[GoDemocratic]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

Please explain further like which tax breaks work if any

 

[June 7 2017]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

Please explain further like which tax breaks work if any

Why give a business entity that doesn't need American infrastructure a tax break?
Asian labor is much less expensive, no benefits and no vacations.
Businesses need to be forced to operate in the US before we lower their tax rate.

 

[GoDemocratic]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

Please explain further like which tax breaks work if any

Here's the problem I see with this: GOP is quick to point out that Reagan reduced taxes and later on unemployment decreased. Bush Jr. reduced taxes and unemployment decreased as well (for a short time).
Problem: Both of these Presidents doubled the Defense budget and that additional spending did indeed create jobs but the GOP counts them as tax-break jobs so you will give them license to continue doing that. Look at Trump's plan, reduce corp taxes by >20% but increase defense spending and infrastructure spending as well. The last 2 does create jobs but they will once again count them as tax break jobs That makes it a scam.

 

[June 7 2017]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

Please explain further like which tax breaks work if any

Here's the problem I see with this: GOP is quick to point out that Reagan reduced taxes and later on unemployment decreased. Bush Jr. reduced taxes and unemployment decreased as well (for a short time).
Problem: Both of these Presidents doubled the Defense budget and that additional spending did indeed create jobs but the GOP counts them as tax-break jobs so you will give them license to continue doing that. Look at Trump's plan, reduce corp taxes by >20% but increase defense spending and infrastructure spending as well. The last 2 does create jobs but they will once again count them as tax break jobs That makes it a scam.

The advent of technology has changed everything.
I am disappointed that Trump is trying to lower corporate taxes without first passing American First Employment policies.

 

[Jimmy_Chitwood]

Does tax breaks the rich really improve the economy or is it a GOP scam.

Taxes influence how I allocate my capital.

I respond accordingly.

The idea is to tax our way to prosperity?

 

[June 7 2017]

Does tax breaks the rich really improve the economy or is it a GOP scam.

Taxes influence how I allocate my capital.

I respond accordingly.

The idea is to tax our way to prosperity?

Not only taxes; expenses also influence how you allocate your capital.

 

[Jimmy_Chitwood]

Does tax breaks the rich really improve the economy or is it a GOP scam.

Taxes influence how I allocate my capital.

I respond accordingly.

The idea is to tax our way to prosperity?

Not only taxes; expenses also influence how you allocate your capital.

Agreed. As well as risk, liquidity, and other factors.

I was thinking hold everything else constant and vary taxes for the purpose of the OP.

 

[task0778]

Here's the deal as I see it. In and of themselves tax cuts are generally a boost to the economy, but their effectiveness (bang for the buck) depends on how they are designed and how big they are. There are times when a tax cut is not all that preferable, such as when the GOP forced a tax cut in the late 90s cuz the economy didn't need a boost. It was doing just fine, but there are other times when a tax cut is more beneficial, such as the 2004 Bush tax cuts. Those tax cuts contributed to a nice bull run for the economy that last for about 5 years; in my view the economy needed a shot in the arm.

One of the factors in economic growth is investments; higher tax rates generally mean less investments. That's because the rich guys have less money to invest AND because higher tax rates increases the risks associated with business startups or expansion. So, do you need to spur investments or not? In the late 90s I would've said no, these days I would say yes. Gotta be smartly done though, otherwise you don't get that big bang.

 

[Slyhunter]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

Please explain further like which tax breaks work if any

Why give a business entity that doesn't need American infrastructure a tax break?
Asian labor is much less expensive, no benefits and no vacations.
Businesses need to be forced to operate in the US before we lower their tax rate.

How would you force a business to operate in the US?

 

[my2¢]

For the most part I think the entire tax system is a scam and neither party has put forth anything that's less repulsive. Thus I'd set tax changes aside for now and concentrate on straightening out federal spending.

 

[June 7 2017]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

Please explain further like which tax breaks work if any

Why give a business entity that doesn't need American infrastructure a tax break?
Asian labor is much less expensive, no benefits and no vacations.
Businesses need to be forced to operate in the US before we lower their tax rate.

How would you force a business to operate in the US?

Any product/service for the US market must employ Americans.
The same company services any other country can employ citizens of that country.
Complete elimination of Business Visas.

Sort of like what every other nation on earth does.

 

[EvilCat Breath]

The poor pay no taxes so no form of tax relief can help them.

 

[OKTexas]

Tax breaks not linked to legislation that creates careers for Americans is a scam.

Please explain further like which tax breaks work if any

Here's the problem I see with this: GOP is quick to point out that Reagan reduced taxes and later on unemployment decreased. Bush Jr. reduced taxes and unemployment decreased as well (for a short time).
Problem: Both of these Presidents doubled the Defense budget and that additional spending did indeed create jobs but the GOP counts them as tax-break jobs so you will give them license to continue doing that. Look at Trump's plan, reduce corp taxes by >20% but increase defense spending and infrastructure spending as well. The last 2 does create jobs but they will once again count them as tax break jobs That makes it a scam.

Reagan tax cuts and economy improvement almost doubled income tax revenue 509 billion in 1980 to 909 billion 1988. Is that a scam?


.

 

[RightyTighty]

Does tax breaks the rich really improve the economy or is it a GOP scam.

Scam, of course.