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1/28/2016 3:45:25 AM
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That's right. I said no [i]actual[/i] economist would advocate it.
And taxing computes to better jobs and a strong middle class because the government turns around and spends those taxes on infrastructure and social welfare programs. In other words, the government actually uses the money - unlike the extremely wealthy, who save far more on average per dollar earned.
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1) Ah so the "no true Scotsman" fallacy, huh? 2) Yeah, in a perfect world. But guess what? That's not the truth. Our government is practically throwing away taxpayers' money. Who says they're going to spend it on infrastructure? There's no guarantee. And lowering taxes on companies would bring them back. Why do you think so many companies are moving their factories? Because the taxes are too low? No. It's cheaper to move them elsewhere. And spreading the wealth from the bottom up doesn't work. Just to let you know.
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Sorry I do not see the causal link in your statement. Corporate tax and personal income tax are different and wealthy individuals will simply sit on every extra dollar they earn.
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I might add, where do you think all of the interest payments on our debt have been coming from? ... That's right, education! The government has been cutting back on education spending in order to finance our debt, all in the name of tax cuts for the wealthy and subsidies for big corporations.
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1. Well, I'd love to see your theoretical list of economists. But, regardless, we both know that the economic theory of the time was Keynesian. Tell me then, if supply side economics is legit, why did it originate from the Reagan administration (a politician and an actor) rather than an economist? 2. You're absolutely right. They are throwing it away in the form of huge subsidies and tax cuts for the largest corporations, even as those corporations cut jobs and move overseas. So tell me, if lowering taxes on companies would "bring them back", why is it that some of the largest companies here pay an effective tax rate of 0% and still cut American jobs? What would actually bring them back is strong consumer spending and inflation. With inflation companies know that they can invest in new projects now and reap larger profits later. But with our current system killing the middle class there is no way that this will happen.
