Tax Cuts for Rich Unlikely to Spur Growth

Discussion in 'Economy' started by Toro, Sep 13, 2010.

  1. Toro
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    Toro Diamond Member

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    Rich Americans Save Tax Cuts Instead of Spending, Moody's Says - Bloomberg
     
  2. elvis
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    elvis BANNED Supporting Member

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    what if it's unexpected?
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    So what?...It's their money.

    Besides the feds can just print up some more money, anyways.
     
  4. jillian
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    jillian Princess Supporting Member

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    and yet they still pretend that there's such a thing as trickle down.
     
  5. elvis
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    elvis BANNED Supporting Member

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    keep in mind "save" can mean paying down your debts.
     
  6. Paulie
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    Paulie Platinum Member

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    [​IMG]
     
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  7. elvis
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    elvis BANNED Supporting Member

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    you are acting as one of Satan's whores.
     
  8. loosecannon
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    loosecannon Senior Member

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    I think we already had an econ thread that covered this exact same terrain: The tax cuts won't stimulate the economy, they will merely defer debt from the private sector to the public sector.

    But whatever....
     
  9. lizzie
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    lizzie Zen Warrior Supporting Member

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    10, 20, or 30 years ago, it would have spurred growth, becaue it would have stimulated investment in private sector business, but nowadays, the atmosphere for business upstarts, big or small, is lackluster due to increasing government control and regulation, especially the health care reform legislation. People with money are hesitant to spend and invest, because there are several disincentives.
     
  10. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The OP is inane.

    What happens with money that is saved by Rich People? They don't stick it in a mattress or bury it in a coffee can in the backyard like some ACORN staffer. They money gets invested, hopefully in endeavors that create jobs (as what would have happened if we didn't have such regulatory and tax uncertainty and increases).

    On a side note, it's interesting how Obama has recently upleveled the definition of Rich to be those who make over $1M per year and who will be "on average" $100,000 if their tax cuts are extended. So, how does this relate to The Rich who are making only $200K?

    What is Rich anyway?
     
    Last edited: Sep 13, 2010

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