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superstriper

tax plan question

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the plan as written will never pass

so would you rather see an emphasis on corporate tax cuts or individual tax cuts assuming both wont happen?

I would argue massive tax cuts across the board to individuals would have a much bigger impact on the economy than cutting the corporate tax rates-money in the hands of everybody will spur massive economic growth- extra money for corporations means increased profits for them that will not trickle down to the rest of the folks

what say u?

 

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Agree. Trickle-down doesn't work. Even the guy who invented it realizes it now. Economies are grown from the bottom up. There's a reason Hamilton demanded that the monetary system was set up so even the poorest would have "money".

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2 minutes ago, Joe said:

Agree. Trickle-down doesn't work. Even the guy who invented it realizes it now. Economies are grown from the bottom up. There's a reason Hamilton demanded that the monetary system was set up so even the poorest would have "money".

They have money.

It's just not as much as the left feels it should be.

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18 minutes ago, Gotcow? said:

They have money.

It's just not as much as the left feels it should be.

and that has exactly what to do with the OP?

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30 minutes ago, Joe said:

Agree. Trickle-down doesn't work. Even the guy who invented it realizes it now. Economies are grown from the bottom up. There's a reason Hamilton demanded that the monetary system was set up so even the poorest would have "money".

Reference please

Edited by hamlet

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Just now, hamlet said:

Reference please

https://trofire.com/2017/05/01/inventor-trickle-economics-says-trumps-tax-plan-dead-arrival/

David Stockman, the economist who developed the theory of trickle down economics during the Reagan administration, says that Trump’s tax plan is a disgusting giveaway to the wealthy elite and that it will result in an economic downturn.  Stockman has admitted that his theory of trickle down economics is implausible, and he regrets the damage that his policy has caused this country

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1 hour ago, hamlet said:

How did Stockman "give rich people more money" and where did he get it to "give" ?

David Stockman was Reagan's budget director and championed Reagan's tax cuts (aimed at the wealthy, much like Trump's proposal) at first, but then became critical of them.  Basically Stockman is saying that the Reagan tax reform which cut taxes for the rich - the primary focus of Trump's tax proposal - was supposed to "trickle down" and therefore boost the economy, but failed to do that.  In recent years studies have found exactly the opposite - that there is a correlation between trickle-down economics and reduced growth, and that higher taxes on the wealthy are linked to economic growth.

 

 

 

And here's his thoughts on Paul Ryan from an interview with The Atlantic in April, 2013:

 

Rep. Paul Ryan, the chairman of the House Committee on the Budget, cites Kemp as his mentor. What's your assessment of Ryan?

He's all hat and no cattle. Beyond that, I think he's intellectually dishonest. His budget plans are bogus.

Edited by PeterO

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4 hours ago, hamlet said:

Thanks for the history lesson.  Which we know.

I asked... how did he give money to the rich?

Where did he get the money from that he gave to the rich?

Good lord u are good at being obtuse when it suits you.

 

Do tax cuts to the rich not put money in their pockets ?

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1 hour ago, Surf Cat said:

Good lord u are good at being obtuse when it suits you.

 

Do tax cuts to the rich not put money in their pockets ?

I asked the question.

Waiting for the honest answer.

 

And so I ask again... if money is "put into their pockets" where did that money come from?

Edited by hamlet

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2 hours ago, hamlet said:

I asked the question.

Waiting for the honest answer.

 

And so I ask again... if money is "put into their pockets" where did that money come from?

It’s came from the exact same place that Trump is getting the $1,000 for each “middle class” taxpayer for a new new car or a kitchen renovation per his chief economic advisor Gary Cohn.

 

You do know where that money is coming from?

Edited by PeterO

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Trickle down does work in some situations, more disposable income for the rich equates to more jobs which equates to more tax revenue. In certain areas of the nation the economy is driven by what may be termed a service industry of sorts. New construction of multi million dollar homes, renovations of existing properties file an industry including the trades, framers, dry wall, electritions , plumbers, painters, masons, finish carpenters, landscape companies, fine gardening companies, caretakers, property managers, security system installation and maintenance for all of the above. High end restaurants and folks working in them,  businessman providing produce and products as well. Yacht builders and their ancillary businesses, crew and marinas. Private aircraft and those who manufacture and service them. Just scratching the surface here , but suffice to say that there are many tax payers making a good living and employing people due to trickle down. 

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