Current Events > How exactly is cutting taxes for the rich supposed to help our country?

(+) Yeah! (+)

That leaves the government with even less money to invest in infrastructure (our infrastructure is atrocious), schools, medical research, etc.

To say nothing of the fact that trickle down economics is a scam that is espoused by morons who feed it to gullible morons. There are tons and tons of studies (non-partisan ones) that show that trickle down economics does not work.

Does tons of data and our own history teach us nothing? >__>
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Because it all

TRICKLES

DOOOOOOOWN
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RchHomieQuanChi posted...

Because it all

TRICKLES

DOOOOOOOWN

XD
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No, it's good when Comcast has more money to lobby politicians with.
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Trickle down economics 101 it all goes down eventually lol
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Because this time they will reinvest in the community and pay their employees more. They totes promise. Why would they lie?
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ollie89 posted...

There are tons and tons of studies (non-partisan ones) that show that trickle down economics does not work.

Depends on how you define working
if "working" means "materially improving the lives of a majority of people" then no, it does not work.
if "working" means "making rich people richer," then trickle-down is a tremendous success.
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ollie89 posted...

Does tons of data and our own history teach us nothing? >__>

Considering the party currently in power does everything it possibly can to deny facts and evidence at every conceivable moment, no, it doesn't teach us anything. Or rather, it teaches intelligent people a lot, but those aren't the ones who can actually do anything because they're the minority and stupidity always breeds stupidity, so it's an uphill battle to get the intelligent ones in charge.
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Aristoph posted...

Considering the party currently in power does everything it possibly can to deny facts and evidence at every conceivable moment, no, it doesn't teach us anything. Or rather, it teaches intelligent people a lot, but those aren't the ones who can actually do anything because they're the minority and stupidity always breeds stupidity, so it's an uphill battle to get the intelligent ones in charge.

The Republicans in power aren't stupid; they have entirely different goals and desires, aims which are opposed to the goals and desires of most.
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Republicans voting against the interest of their countrymen news at 11 why anyone votes republican anymore is shocking
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It's supposed to help the rich, and they're the only ones who matter.
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Unlike poor people who stash all their extra money in offshore tax havens, rich people invest extra money directly into the economy. Thus it's better to give more money to the rich.
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The theory is itll free up cash for them to expand their enterprises and create jobs. In reality, it just means the people at the top keep more money.
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Aristoph posted...

ollie89 posted...

Does tons of data and our own history teach us nothing? >__>

Considering the party currently in power does everything it possibly can to deny facts and evidence at every conceivable moment, no, it doesn't teach us anything. Or rather, it teaches intelligent people a lot, but those aren't the ones who can actually do anything because they're the minority and stupidity always breeds stupidity, so it's an uphill battle to get the intelligent ones in charge.

*sigh*

So true.
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Intro2Logic posted...

The Republicans in power aren't stupid

https://www.youtube.com/watch?v=WFYRkzznsc0

I rest my case.
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People making it sound like it's a bad thing to have money and want to keep it.
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Aristoph posted...

Intro2Logic posted...

The Republicans in power aren't stupid

https://www.youtube.com/watch?v=WFYRkzznsc0

I rest my case.

In fairness, Roy Moore isn't in power.
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Trickle down economics doesn't work because the rich use their tax savings to invest more money and grow their own wealth, while corporations will use those savings to give bigger bonuses to their CEOs. There's no incentive for the money to actually trickle down.
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No they hide their money in off shore countries tax havens thats where all of apples money resides place called jersey
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It's good for people like us who are rich.

For the "poor" people, well they can always get better jobs....
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https://townhall.com/columnists/thomassowell/2012/09/20/the-fallacy-of-redistribution-n829911

You can only confiscate the wealth that exists at a given moment. You cannot confiscate future wealth and that future wealth is less likely to be produced when people see that it is going to be confiscated.

It isn't. They aren't even saying it's supposed to. They're basically just saying that rich people work harder and deserve more, and that poor people are innately lazy/undeserving of a good life.
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Cutting the taxes on the rich individuals wont help much generally.

Cutting taxes on business potentially can though depending on the sort of tax and other factors.
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pikachupwnage posted...

Cutting the taxes on the rich individuals wont help much generally.

Cutting taxes on business potentially can though depending on the sort of tax and other factors.

No way. No business is ever gonna just start paying employees more. They'll just pocket the difference and keep finding ways to pay their employees less.
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cutting taxes does not necessarily mean tax revenue will decrease

you can cut taxes without decreasing tax revenue because higher taxes dont always mean higher tax revenues

http://www.nationalreview.com/article/309118/tax-cuts-wealthiest-lie-thomas-sowell
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The tax bill doesn't just help the rich tho
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nexigrams posted...

pikachupwnage posted...

Cutting the taxes on the rich individuals wont help much generally.

Cutting taxes on business potentially can though depending on the sort of tax and other factors.

No way. No business is ever gonna just start paying employees more. They'll just pocket the difference and keep finding ways to pay their employees less.

how do you know? more money = more expansion = more employees and more responsibilities
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FLUFFYGERM posted...

cutting taxes does not necessarily mean tax revenue will decrease

you can cut taxes without decreasing tax revenue because higher taxes dont always mean higher tax revenues

http://www.nationalreview.com/article/309118/tax-cuts-wealthiest-lie-thomas-sowell

Good. You're learning.
Read more Sowell articles, maybe buy a book or two.

FLUFFYGERM posted...

cutting taxes does not necessarily mean tax revenue will decrease

All estimates of these tax cuts, however, do predict reduced revenue.
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nexigrams posted...

pikachupwnage posted...

Cutting the taxes on the rich individuals wont help much generally.

Cutting taxes on business potentially can though depending on the sort of tax and other factors.

No way. No business is ever gonna just start paying employees more. They'll just pocket the difference and keep finding ways to pay their employees less.

True statement. The business could get a check for 98 million dollars and not a cent would go to the employees. I can't stand when government officials, business owners/etc pretend otherwise
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Antifar posted...

FLUFFYGERM posted...

cutting taxes does not necessarily mean tax revenue will decrease

All estimates of these tax cuts, however, do predict reduced revenue.

"the polls!!!!!" - Antifar in 2017
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FarFromFields posted...

Trickle down economics doesn't work because the rich use their tax savings to invest more money and grow their own wealth,

Literally just killed your own point.

Behaviorism posted...

nexigrams posted...

pikachupwnage posted...

Cutting the taxes on the rich individuals wont help much generally.

Cutting taxes on business potentially can though depending on the sort of tax and other factors.

No way. No business is ever gonna just start paying employees more. They'll just pocket the difference and keep finding ways to pay their employees less.

True statement. The business could get a check for 98 million dollars and not a cent would go to the employees. I can't stand when government officials, business owners/etc pretend otherwise

i mean where i work we get bonuses tied to company performance each year

so youre lying
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Antifar posted...

FLUFFYGERM posted...

cutting taxes does not necessarily mean tax revenue will decrease

All estimates of these tax cuts, however, do predict reduced revenue.

It's the Kansas effect.
Cutting taxes without also cutting spending causes a huge deficit catastrophe in the short term, and thus usually ends up abandoned before the growth is allowed to snowball.

If, this tax bill also includes the repatriation break, maybe that won't happen.

nexigrams posted...

pikachupwnage posted...

Cutting the taxes on the rich individuals wont help much generally.

Cutting taxes on business potentially can though depending on the sort of tax and other factors.

No way. No business is ever gonna just start paying employees more. They'll just pocket the difference and keep finding ways to pay their employees less.

Not every company is run by a cold unfeeling board of stockholders. Remember that one company whose CEO cut his salary to 100K(IIRC) and raised everyones salary to 100K?

Also the benefits to the lower rung of society can simply be more available jobs. Obviously lower taxes make it easier for small business to even be able to stay open.
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FLUFFYGERM posted...

"the polls!!!!!" - Antifar in 2017

1. "All polls are wrong" is not a 2016 lesson that will age well
2. These are not polls; they are bipartisan analyses of the tax plan and its impacts.
https://www.cnbc.com/2017/11/30/senate-tax-bill-would-still-add-1-trillion-to-the-deficit-after-growth-congressional-analysis-says.html
http://thehill.com/blogs/floor-action/senate/362905-cbo-senate-tax-bill-increases-deficit-by-14-trillion
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Also, if people always complain about how much money investors make, how about you fucking invest in the stock market like they do and not something shitty like Bitcoin?

pikachupwnage posted...

nexigrams posted...

pikachupwnage posted...

Cutting the taxes on the rich individuals wont help much generally.

Cutting taxes on business potentially can though depending on the sort of tax and other factors.

No way. No business is ever gonna just start paying employees more. They'll just pocket the difference and keep finding ways to pay their employees less.

Not every company is run by a cold unfeeling board of stockholders. Remember that one company whose CEO cut his salary to 100K(IIRC) and raised everyones salary to 100K?

Also the benefits to the lower rung of society can simply be more available jobs. Obviously lower taxes make it easier for small business to even be able to stay open if they are paying a lower tax rate.

shareholders are often employees themselves

i own significant stock in the company i work for

so the communist clowns who make it about shareholder vs employee are just shitposting lmao
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Antifar posted...

FLUFFYGERM posted...

"the polls!!!!!" - Antifar in 2017

1. "All polls are wrong" is not a 2016 lesson that will age well
2. These are not polls; they are bipartisan analyses of the tax plan and its impacts.
https://www.cnbc.com/2017/11/30/senate-tax-bill-would-still-add-1-trillion-to-the-deficit-after-growth-congressional-analysis-says.html
http://thehill.com/blogs/floor-action/senate/362905-cbo-senate-tax-bill-increases-deficit-by-14-trillion

did you read the OP? that is what i was responding to

and we wont know what the tax cuts will do until we see the results. i think theyll push more growth that will greatly outweigh the deficit increases. last i saw the "bipartisan" analyses assumed that the economy's output wouldnt really grow much.
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FLUFFYGERM posted...

last i saw the "bipartisan" analyses assumed that the economy's output wouldnt really grow much.

The lack of growth (sufficient to come close to "paying for itself") in the JCT score isn't an assumption; it's their conclusion. You put bipartisan in quotes but the committee consists of 6 Republicans and 5 Democrats. The CBO is currently led by a Republican.
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Antifar posted...

Aristoph posted...

Intro2Logic posted...

The Republicans in power aren't stupid

https://www.youtube.com/watch?v=WFYRkzznsc0

I rest my case.

In fairness, Roy Moore isn't in power.

The guy speaking there was elected 3 times.
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Annihilated posted...

FarFromFields posted...

Trickle down economics doesn't work because the rich use their tax savings to invest more money and grow their own wealth,

Literally just killed your own point.

How so?
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FarFromFields posted...

Annihilated posted...

FarFromFields posted...

Trickle down economics doesn't work because the rich use their tax savings to invest more money and grow their own wealth,

Literally just killed your own point.

How so?

How do you suppose those rich bastards are investing?

The less taxes they pay the more money they pocket. If one business decides to cut their prices and give the customer's the cut, they will sell more than companies that don't and make more money in the long run, while the companies that pocketed the difference will lose business. Only Socialists can't seem to understand this.
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