Musicmystery
Posts: 30259
Joined: 3/14/2005 Status: offline
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quote:
ORIGINAL: WickedsDesire The trickled down theory has many monikers 1. Pyramid scheme 2. Quantitative easing 3. The rich with their piggy snouts deep in the trough etc And its never worked, ever. Why are we a talking about this. oh for Christ sake was it $19 million! That wont even get you a round of gold golf at the corrupt cock wombles holiday home. The rich countries - I forget whats its called are supposed to give 1-2% GDP to the poor paupers - something like that anyone know what its called and the amount? Edit ah lucy was it 0.7% see its a real thing ;) Is it a G7, ors it G6 now, G9 or G20 thingy. Well #1 and #2 are very different from trickle down theory. And #3 isn't necessarily bad, depending on what we get for our investment. But yeah, simply cutting taxes isn't magic. While the Laffer Curve is a fine theory, where we are on it has never been where proponents claim, with disastrous results...except for the top income level. I'm actually in favor of rolling back ALL of the Bush tax cuts, including those on the middle class (you didn't notice the bump up, and you won't notice the bump down) and FICA. After the 2008 crash, and since, there's a lot of money just sitting around, in businesses and in the hands of wealthy investors, because it's cheap to hang on to it right now. Cutting taxes will do NOTHING to spur investment in this climate. In fact, arguably we should raise taxes to pull out the excess monetary supply.
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