Rich people don't create jobs

by slimboyfat 85 Replies latest social current

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  slimboyfat

  Well the video is pretty self-explanatory. It is not calling for equal distribution of wealth. It is calling for greater fairness. Why should poor workers pay a tax rate of 35% on their labour for example, while rich people only pay 15% on their capital gains? What kind of incentive is that to hard work?

  We are not even talking about taking money away from the wealthy. We are talking about rebalancing a system that is heavily skewed in favour of those who already have wealth and against those who are working hard.
• 

  still thinking

  Governments play on the illusion that the wealthy create employment...and thats why companies need incentives. Tax breaks etc. But that is utter nonsense. No amount of tax breaks will create a job. All it does is give more money to investors. It increases profit. Not jobs.

  Corporations will more likely invest money into systems that replace workers, than increase employment costs. Profits are not made by employing more people. If you can get your workers to do longer hours for less pay reducing the need to employ an extra person, many companies will. They aren't in the business of making sure unemployment levels drop. They couldn't care less about unemployment or low wages.
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  cantleave

  a thousand middle class people with say an extra $1,000 a year will together spend a lot more than a single rich person with $1,000,000 extra. The person making this point in the video is himself rich. More equal distribution would help the economy, rich and poor alike.

  I don't often agree with SBF but on this occasion we have 100% agreement.
• 

  prologos

  design talked about A Romney (and her contractors) planning to build a car elevator, perhaps she can also use it for her PRANCING HORSE, tax deductable.

  THAT IS JOBS.

  income capping or over-taxing the rich will not solve the rich, poor gap,

  Nor will the removal of the top layer, a la French revolution.

  Wise, powerful and impartial guidance would,

  but it retired after giving us the talking snake story and WT B T&S, the F&DS.

  its Government & Greed, Top predators overdoing it. Bleeding hearts overdoing it.

  May be it is a character, educational thing. because

  why can some resource poor, totally devestated countries, not remain among the poor?

  Even if there are jobs, some poor people dont want them, it interferes with their early retirement.
• 

  talesin

  I'm trying to be in the 1%. I'll never get there wasting my time like this.

  LOL, I doubt you have any concept of RICH, or who the 1% would be. It's not Donald Trump, for example. Ignorance is BLISS.

  See ya, and don't let the door hit you on the way out.

  t
• 

  still thinking

  Even if there are jobs, some poor people dont want them, it interferes with their early retirement. The rich are not being over taxed. The only people that pay their full share of tax are the low and middle income earners. Wealthy people generally have accountants that will find every tax loophole available to them, of which there are many. Early reitirement? Living in poverty is not early retirement. Only a person who has never experienced living in poverty would consider saying such a thing. You will always have some people who do not want to work. That is not limited to the poor...there are plenty of wealthy kids that are just like parasites living off their parents wealth. The few at either end of the scale do not represent the majority.
• 

  problemaddict

  I think the phrase "equal distribution" is the one that makes people uncomfortable.

  What makes someone "rich" is very subjective. I had a year where my buisness went very well. I have a few employees and subcontractors. We treat them all well, give them a good wage above the national average, and provide health insurance before it was going to be legislated. At the end of all things, because it was just a normal buisness, I end up in a high bracket, and have to fork over soemthing over 40% in tax to both state and the federal government.

  Now if I was only taxed at 30% would I have hired another person? No. In that sense he is correct. However, I may have invested more, or purchased equipment etc... I am not wealthy by any stretch of the imagination. I don' have overseas investment, ad large portfolio of stocks, and capital gains to enjoy at a lower tax rate than most. Yet I paid more taxes as a % of income (by almost double), than Mitt Romney.

  That is just a broken system. I didn't use any more road, or public services than anyone else did. I just made more because i worked 18 hours a day 7 days a week for a year.

  It feels like a penalty. This is where I get confused as to what is really fair and what is not. I think I paid MUCH more than my fair share of taxes. I dont' mind paying more, but I paid an outlandish amount more.
• 

  still thinking

  What makes someone "rich" is very subjective

  I don't think so...I think that you can consider the 1%, that hold most of the wealth in the world, 'rich'. It is not subjective.

  

  https://en.wikipedia.org/wiki/Distribution_of_wealth
• 

  sooner7nc

  Innovation creates jobs.

  Who's more likely to foster innovation, someone trying to earn a living working 40 to 60 hours a week (Poor) or someone with the funds and time to try to innovate (Rich)?
• 

  sooner7nc

  Actually it is subjective. Take the bottom 19% and break it down further. Someone who makes $250000 a year is probably in the bottom 19%.

  Are they "rich" even though they are in the bottom 19? Are they poor?

  Pretty pie charts on computer screens are worth less than the electrons that formed them.