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 2 months ago '06        #177
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 GrezyNclean said
So let me start by saying that when I said trickle down economics is bullsh*t I meant that it doesn't work as well as rich people frame it.

The rich do put money back into the economy when they are given tax breaks. Not as much as they should, but they do. If you give a rich person 20 million and they put in $10 million, thats still more than giving someone $2400. If you take away that $20 million and hit them with an additional tax thats going to decrease the economy.

And I think this is where we keep butting heads. You think consumer spending and small business purchases can make up for large corporations not participating due to a pull back from taxes.

THIS IS NOT TRUE. I've seen the numbers. Bernie will probably decrease the wealth gap but at the cost of the economy.

For example:
Rich person makes $10 billion (spends $4 billion in economy)
Average person makes $50,000 (spends $45,000 in economy)

Bernie taxes rich person to pay for programs like free education and healthcare

Rich person now makes $5 billion (spends $2 billion in economy)
Average person now makes $70,000 (spends $65,000 in economy)

Wealth gap has grown closer but at a loss to our economy. What math are you coming up with that has our economy compensating for this loss in spend. And no theory (it'll happen small business can fulfill the demand) bullsh*t.
The wealthy don't put jack back into the economy, how many times are you going to get fooled by that logic before you feel ashamed?

You've "seen the numbers", word? Post them

During Reagan's second term, he presided over another major tax rate cut as part of a more general tax reform act. The package cut the top tax rate to its lowest point in the postwar era at 28%. During the subsequent five years, the economy experienced a small recession during George H. W. Bush’s presidency.

While President George H. W. Bush rolled back some of Reagan’s tax cuts, slightly raising the rate for top income earners, President Bill Clinton introduced the first major increase to the top marginal tax rate since the 1950s, up to 39.6%. The economy posted slightly above average growth for the ensuing five years.

President George W. Bush cut taxes in two packages, one in 2001 and in 2003. On aggregate, they cut the top tax rate to 35%. Because Congress passed this package through budget reconciliation, the tax rate cuts were set to expire in 10 years. Shortly after the full tax rate cuts went into effect, the economy began to decline, albeit slowly, before crashing in 2008.

Show your numbers fam or stop responding. And show me where big business has ever closed shop because of a tax increase.