DEAR RICH FOLKS: Get Ready For A (Tax) Revolution...

darthfader

Interesting point of view and graphs. Is the US different today than it was in the 50's and 60's when tax rates were at their highest? A lot of people agree that raising taxes pulls money out of the economy and will hinder job creation.

DEAR RICH FOLKS: Get Ready For A (Tax) Revolution In Which Your Money Will Be Taken Away

http://www.businessinsider.com/tax-increases-are-coming-2011-7

...... In the first decade of the 2000s, super-low tax rates, super-cheap money, massive borrowing, and many other factors fueled an unsustainable sugar-high boom that has since turned to bust. And now the country finds itself saddled with colossal debts (in aggregate, including consumer debts, much higher than those after World War 2), huge budget deficits, and enormous inequality. And tax rates on the richest Americans are still near their all-time lows.

If history repeats itself, our financial problems will eventually be solved, but not without a lot of time and pain. And part of the solution will likely be much higher tax rates, especially on the richest Americans.

So enjoy today's low rates while they last.

darthfader

I just love it when I create dead topics... I know it's not that interesting or provocative, but at least I posted it.

have a good night all :)

talesin

DEAR RICH FOLKS: Get Ready For A (Tax) Revolution In Which Your Money Will Be Taken Away

that would be nice (talking about the FILTHY RICH, not the non-existent middle-class)

Don't feel bad, darth,,, try posting a poem you wrote, and no one comments .... sometimes threads just get lost because of timing ... so, on that note,,,, BTTT

tal

scooterspank

I logged in just for you darthfader. They say increasing taxes will hurt job growth. Well, we didn't let the Bush tax cuts expire and now unemployment numbers/jobs growth are just getting worse. Doesn't that show that tax cuts and jobs really aren't related? Why don't we hold these people accountable? You want tax cuts? Show us the jobs. If you don't, then you lose your tax cuts. Is that so hard? I feel a rant coming on. Have a good night.

BizzyBee

Yeah, we need to move on to a different strategy than groveling at the feet of the rich (job creators? Job creators???!! Gimmee a break.)

talesin

Yes, and the only 'jobs' being created are PART TIME or in call centres (low pay, non union) .... at least here in Canada, that's the story, and I'm assuming the same south of the 49th.

tal

NewChapter

When did we ever get the idea that cutting taxes creates jobs? Even when taxed, growing business and production increases profit. It makes little sense to say that because you will be taxed on your next million---you will choose not to make that million! Capital gains tax is very low--if anything it encourages investors to make their money that way-and not by creating jobs.

It's a false narrative. The republicans have sold it for years. It's never proven true. New voters don't remember the Clinton years. But enough time has passed in present history for them to at least see it doesn't work.

NC

NewChapter

When did we ever get the idea that cutting taxes creates jobs? Even when taxed, growing business and production increases profit. It makes little sense to say that because you will be taxed on your next million---you will choose not to make that million! Capital gains tax is very low--if anything it encourages investors to make their money that way-and not by creating jobs.

It's a false narrative. The republicans have sold it for years. It's never proven true. New voters don't remember the Clinton years. But enough time has passed in present history for them to at least see it doesn't work.

NC

FlyingHighNow

New Chapter, I like you.

FlyingHighNow

Don't feel bad, darth,,, try posting a poem you wrote, and no one comments .... sometimes threads just get lost because of timing ... so, on that note,,,, BTTT

See, I never saw a poem you wrote. I would have commented.

DEAR RICH FOLKS: Get Ready For A (Tax) Revolution...

Share this