50 years of tax cuts for the rich failed to trickle down, economics study says

Neither your cheap insult attempt nor your incomplete example refute my post. Debt has zero to do with income. For a complete example, you need to include spending.

Can you give an example of tax cuts resulting in loss of revenue?

 

where was the concern these last 4yrs when traitor trump was threatening to solve homelessness? it's so easy but he didn't. why?

 

Voodoo economics was used by GHW Bush the way Trump used Sleepy Joe on Josef Bidenista.

Reagan never used voodoo economics. The way the economics worked so very well was due to the Reagan ACRS.

Accelerated Cost Recovery System. I used it a lot when Reagan was president and it worked to boost the economy a lot.

I am not jealous of the rich the way Democrats are. Your calls of hate of the Rich fall on deaf ears. One reason I quit the Democrat party was their incessant badgering of the rich.

 

Someone again cited growth after WW2 as if that means something. America had destroyed Germany and Japan and we had the labor force and devoted money to restoring Europe and Asia.

That could not happen now due to the world being developed in most areas of the world.

 

If Biden and the Democrats cared, 11,000 workers would not have been laid off last Friday. Biden cancelled their jobs.

 

You are incorrect. My post is on topic.

Im not bashing CA. I love it here and am looking to a weekend in Bigbear and all the fresh snow. On the subject of economics, your theory has been in practice for many years and results are in. You will not be able to defend your position unless you ignore these results. I keep hearing how CA is the 5th largest economy in the world, so we are discussing economic policy on a national level.

 

Tax Cuts for the rich aren't trickling down? Well, it depends on who you are.

Most of the rich are slowly passing their assets to their children. It's a generational wealth transfer.

But over the last decade, which has been some hard times, some of the rich have gone out of business and lost all of their assets. Then they can't trickle down their wealth to their children.

I'd say raising taxes on the rich will just put more businesses out of business. These are hard times.

 

why would Dems be jealous of themselves? what about all the wails over Dems getting rich legally by the illegal rightys?
Reagan colluded with Iran, screwed a true Christian President, filled the country with cocaine, and divided us with Atwater / Gingrich.
ohhhhhhh those pooooooor rich! lol

 

You mean like this?

"While the tax cuts unsurprisingly shrank federal tax revenue, Trump’s promises that the cut would stimulate business investment and economic growth have not yet materialized."
https://www.cnbc.com/2019/12/05/us-tax-revenue-dropped-sharply-due-to-trump-tax-cuts-report.html

http://www.oecd.org/tax/tax-revenues-have-reached-a-plateau.htm?mod=article_inline

 

not for the rich it ain't and few to none are helping.

 

What we're seeing is here is a psychological phenomenon referred to among professionals as "dissonance induced psychosis stemming from quantitative comprehension deficiencies." In layman's terms.......the denial of facts.

 

No. I mean loss of revenue. Please show the amount and the year the Fed Gov took in less.

 

So we should just tax everyone at, let’s say 75k a year. That seems like a fair amount to me. That work for you?

 

Works for me.

 

What should we do with people that cannot pay it?

Jail? Or should we just outright execute them?

 

Your problem. You are the one proposed the tax.

 

You are the one that proposed an exact flat tax, you just didn’t include an amount.

I am glad you see the obvious flaw in your proposal so quickly. It usually takes pages of this back and forth before people making these types of policy goals realize how stupid it is. Congratulations

 

The democrats are always wanting the rich to pay their fair share. There is nothing more fair than all paying the same amount. The democrats definition of fair is more.

 

No one hates the rich. Please do not make stuff up.

 

I didn't start this thread to get in a CA argument.

The topic is the fact that conservatives view on super tax breaks to the super rich doesn't benefit those at the bottom rung of the ladder.

That is the topic. Kindly adhere to it.

Thank you.

 

They weren't. Anything else?

 

What is fair to me isn’t fair to Musk isn’t fair to the single mom working three jobs to support her family.

~75k per year as a total tax burden would be fair for my family, what do you propose we do with people that are unable to pay this amount? If you can not answer this simple question and you have the capability to reevaluate your position then you should do so.

And yes, it makes the most sense to lay the majority of the tax burden on individuals and companies that it will not cause them irreparable harm to pay. The opposite is just inane and only makes sense to cons.

 

If you really want answers, you would go back towards the beginning of this thread where I said I was being sarcastic. The democrats want the rich to pay their fair share. Nothing is more fair than all paying the same amount. The rich pay the same for a loaf of bread going to the movie, gasoline, etc. Very fair

For the democrats fair share means paying a lot more than they are now regardless of how much they pay. Paying the same is the only absolutely fair amount.

 

Fair is subjective.

I don’t believe it is fair for a billionaire to pay less taxes than someone making poverty wages.

I don’t believe it is fair for some of the largest companies in the world to pay less federal tax than my relatively small companies pay.

I don’t believe it if fair for people to be born into generational wealth while others are born into generational poverty.

Fair — is what one is able to pay without it devastating their lives.

 

I assumed you wanted to have a polite discussion on economic policy. The "tax the rich" position has real time results we can discuss now. Sure you can argue that the rich don't spend where it trickles down. When you increase their tax burden, they absolutely pass that down to the consumer and it lowers the quality of life for the working man.

Also, there are several ways the wealthy can avoid the increased tax burden. When businesses pass the tax burden down to the consumer and leave states with excessive taxes and take their jobs with them, the only ones that get hurt are the workers here in the US.

This is already happening. What is your solution?