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More on trickle down. It doesn't
Posted: Apr 27, 2017
I don't care if you Trump supporters read it or not but it doesn't work and has been proven not to work.
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Read Milton Friedman and change "trickle down" to - free enterprise. It works.
[ In Reply To ..]Free to Choose.
My economics teacher in HS showed us his series and I have never forgotten it. Friedman made sense then and he makes sense now. This series should be required in school. What a difference that would make!
Without basic education in free enterprise, liberty... we are fighting uphill.
Around the turn of the 20th Century the Supreme Court - ruled income tax was unconstitional.
[ In Reply To ..]Look how far we have come from the founding.
What really doesn't work is socialism. It requires - other people's money and eventually
[ In Reply To ..]that runs out(Margaret Thatcher).
According to the latest crop of "highly edumucated" socialism pushers out there, the previous attempts were doing it all wrong and this batch "knows" how to do it the right way. LOL! Yeah, right!
The world will never learn that. Just a few years after - the Berlin Wall came down,
[ In Reply To ..]young people were falling for the snake oil once again.
Unfortunately, people will always be drawn to socialism because it - promises them that they an
[ In Reply To ..]live the good life on someone else’s dime. That they can get “free” healthcare, housing, food and education to be paid for by the “rich.” Something for nothing. People never seem to learn that there is no free ride.
You must work for fun - tired of the bs
[ In Reply To ..]You cannot possibly believe that we want to live off the rich. I just want a job that pays my bills. Will somebody please just google socialism before they guess at what it means. What it is NOT is communism or Nazism. Grow up.
Pardon my stupidity, but how is taxes the rich going to - provide you a job that pays your bills?
[ In Reply To ..]xx
How is making them pay their fair share - wrong?
[ In Reply To ..]How is expecting a fair wage for a hard day of work wrong? What have tax cuts for the rich done for you? They still took their work overseas and gave themselves bigger bonuses and cried foul when they had to pay benefits to their employees. I see people crying on transcription boards how they make peanuts while the CEOs of the companies make a fortune. They are not sharing the benefits of their tax cuts with anybody but themselves.
For those of you who support tax cuts for the rich and complain about your wages, you talk out of both sides of your mouths. If you think they are going to help you or anybody but themselves you need to re-think your view that giving them breaks will help create jobs and better wages.
What do you consider a "fair share?" 45% of Americans - pay no federal income taxes and have no
[ In Reply To ..]skin the game. The rich already pay most of the taxes.
The mortgage deduction is a tax break. That's why rich Hollywood gets loans instead of paying cash, so they can use that tax break.
49% of Americans don't OWE income taxes - at tax time. There is
[ In Reply To ..]a big difference. They still had taxes taken out during the year and pay state and local taxes, they just don't make enough to owe more taxes.
Of the ones that actually don't pay taxes, they aren't making enough to to eat let alone pay taxes. Of course you probably think that is wrong while the guy who is getting the tax break probably owns several houses, cars, boats whatever and is being treated unfairly.
That's the point. How can one get a tax cut if one - doesn't owe taxes?
[ In Reply To ..]As far as the last paragraph, I think you are projecting. I'm not rich. I'm an MT. I just try to look at the big picture and not get emotional about it.
You will be getting an increase in the personal exemption. Taxes are - levied on income/payroll tax. As far as
[ In Reply To ..]investments/capital gains, do you have a 401K? You will benefit too.
This is based on the fact that govt thinks all money - belongs to them.
[ In Reply To ..]xx
JFK cut taxes. Federal revenue in went up 50%. Reagan cut taxes. - Revenue went up 70%.
[ In Reply To ..]Cutting taxes increases federal tax revenue. Now you know the truth.
Only if the tax cuts include middle and lower - classes, not just corps and the top 1%
[ In Reply To ..]Trump's 1 page tax plan says nothing about anything for the middle class, I wonder why? (Probably that's why it's only 1 page, the devil is in the details.)
I have linked to President Reagan's address to the nation on tax reform in 1985. He goes into great detail about just how much the average middle class family will be helped. He is concise and knows his stuff - take note Trump! He also makes it clear that this will benefit the middle class as well as business, and it actually did.
Funny, I remember interest rates on homes - around 20% at that time
[ In Reply To ..]That is also when we started losing things like deductions for buying cars or interest on credit cards. I did see CDs paying interest of 13% but it does not make up for all we lost.
They are doing the same thing now though we don't know the extent of it until we see the whole thing.
I also know that is when we started losing manufacturing jobs to offshoring. They were taking their tax cuts and sending jobs overseas.
You are right, I guess I just figure if there are - going to be cuts anyway
[ In Reply To ..]At least Reagan invited everyone to the party, not just the Richy Riches.
I think tax cuts are obviously inevitable in this administration, so I am just reasoning that if they must be done, how about throwing us poors a bone for a change?
But will they throw you a bone or will that bone - have the marrow dug out
[ In Reply To ..]by taking something from you for giving you something?
That was in the 1970s coming off of Carter. Why should we - get a deduction in interest on credit cards?
[ In Reply To ..]I'm glad they got rid of the card interest deduction. Up until 1986, the IRS was actually encouraging people to spend irresponsibly on credit cards instead of paying off debts in a timely manner. You still can if you have a business.
As far as the mortgage interest, many people I know borrow more than they need just to get a significant amount of that money back as a tax credit. Back in the 70s interest to buy a house was 12-13% and higher.
My point is they giveth and taketh away in the - same plan
[ In Reply To ..]so your not really getting anything that benefits you. Going from 39% to 15% for the wealthy benefits them tremendously. They will look out for their wealthy buddies and leave you behind as usual.
The information is here - old and burned out
[ In Reply To ..]if you want to wade through it. Your statement shows what happens when you read only headlines.
Trickle down - Crabby
[ In Reply To ..]It doesn't work. Read Adam Smith or Noam Chomsky or watch A Beautiful Mind and pay attention to the dialog this time. Democracy in a capitalist society fails every time because of the "concentration of wealth." The best we can hope for is repetitive crash/growth like we have seen the nation's lifetime but the end result is the top 1% get the cash and the rest of us suffer. So figure out how to be in the 1% if you want to be comfortable.
That's not what trickle down means. A free market - society w/o morals does not
[ In Reply To ..]work because now you are getting into human nature. Our founders knew this.
I know the left loves Noam Chomsky.
According to Chomsky, what America really wants is to steal from the poor and give to the rich. America’s crusade against Communism was actually a crusade "to protect our doctrine that the rich should plunder the poor."
He was also denied entry into Israel.
I saw a Beautiful Mind. While the movie was based on truth, - much of it was Hollywood, like the
[ In Reply To ..]part about the girl in the red dress. Much of the dialog was for entertainment.
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