The Bush Tax Cuts for the wealthy were the biggest redistribution of wealth in the history of the world. Republicans mindlessly say it's all about percentages, but if a millionaire gets $150,000.00 back and it's not going into the economy and a regular guy gets a grand back and is denied government services, clearly, the wealth of the nation is being transferred to the top.
Then the fact two wars were unpaid for and the deficit exploded and you see REAL Republican economic policy. To the GOP, deficits don't matter. Unless a Democrat is in office.
Those are the facts. Immutable and recent history.
Unemployment benefits not until Bush tax cuts pass Senate GOP says - CSMonitor.com
First, cutting taxes does not redistribute wealth.
If I earn money, and you decide to not steal it from me, no one would conclude that you were engaged in redistributing wealth to me.
Second, *I* personally got a tax cut under Bush. At that time, I made less than $20,000 a year. So by your own statements, I must be the wealthy.
Third, there is nothing that a millionaire can do with money, that magically doesn't go back into the economy. If he spends the money, the is creating economic activity. If he invests the money, he creates economic activity. Even if he saves the money, he is either saving to spend, or invest, more money in the future... and in the mean time, the bank can only do those same three things, spend, save, and invest.
So regardless of what specific option he chooses, all of them will benefit the economy, with only ONE exception.
If the wealthy choose to invest the money outside of the country, that STILL benefits our country, because the money used, must come back somehow. However, the investment itself, will primarily benefit the country the investment is in.
Here's the problem with that specific issue.... what is the number one primary reason wealthy people invest outside the country? Because you are taxing away all their profits here. Major corporations have said openly, the reason they are not bringing those profits back to the US, is because of the tax hit they would incur.
So you are actually promoting the exact policies that do the most harm to our economy.