Obama must reject the GOP’s blackmail

Started Nov 11, 2012 | Discussions thread
carlk Forum Pro • Posts: 15,940
Re: About derivatives and wide complicity....

JoeDaBassPlayer wrote:

I see where the wars were great contributors to the issues. The tax cuts were good things. There is aneed to keep more money in the economy, thus allowing it to grow. The Bill Clinton Luxury Tax is a good example of how taxes caused a swift loss to the economy. OTOH - JFK and RR saw great benefits through cutting taxes.

I see a great need to elliminate LT captial gains and interest income form savings accounts. Also, let US companied repatriate foreign profits without getting taxed again, severely. Honestly, we are a very anti business country. We tax things others do not and have the highest corporate tax rate on earth. It is no longer about fair share but whether we want to grow our economy or not.

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Variance is Evil!

Please stop repeating the talking point that give rich tax breaks will result in more investments and more jobs.  That does not make any sense at all.  As Lee Jay mentioned it has been proven wrong from history many times already.  The only effect of a tax cut for the rich is it will make them richer.  That has been shown very convincingly after the Bush tax cut.  The rich gets richer, the middle class is disappearing and we had the most sever recession and slowest recovery in recent history.  Even the world's richest person Warren Buffet thought so.

The reason is very simple.  No business person, at least good business person, would invest just because he/she will pay less tax from the profit.  Remember you don't pay any taxes unless you made profit.  The ONLY reason they will invest is when they see potential to make profit.  The  bigger investment the bigger potential they see.  They may want to try avoid to pay the tax but they will never try avoid to make the profit.  The conservative theory is fundamentally flawed and designed with no purpose other than to help the rich (what else do you expect?).

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