Trickle-Down Economics

[Walter Powers]

Do you believe in trickle down economics? That is, if the wealthy are taxed less, they will create more jobs because they will invest more, innovate more, and make a better overall national economy?

I do, believing that whenever ANY demographic is taxed less, it is good for the economy, assuming the government can still afford to defend the nation and the rights of it's people.

[sam927]

It is very difficult to say if trickle-down economics actually works or not. I believe for it to actually work, we would have to end the capital gains loophole (which have nothing to do with hiring people) and instead shift cuts towards corporate tax.
Data shows that if given large personal tax cuts (e.g capital gains) the wealthy rather sit on it that invest it. We could sort of funnel tax cuts from top to bottom in a trickle-down style by cutting corporate taxes.
Well-- the issues here are the current loopholes on capital gains do not promote a trickle-down style economy.

[britishboy]

in theory yes but its hard to prove and the government must have enough money for defense

[STEALTHy]

Well a lot of jobs are usually given to other people in other countries because they can pay them less and save more money. That doesn't apply for all jobs though.

[tovaris]

Do you believe in trickle down economics? That is, if the wealthy are taxed less, they will create more jobs because they will invest more, innovate more, and make a better overall national economy?

I do, believing that whenever ANY demographic is taxed less, it is good for the economy, assuming the government can still afford to defend the nation and the rights of it's people.

NO!
Thats absurd charge the poor for bring poor and give the rich money for nothing.

[Walter Powers]

NO!
Thats absurd charge the poor for bring poor and give the rich money for nothing.

What? No; I'd lower taxes for everybody and institute a flat tax if I was in charge. But I'm not.

[tovaris]

What? No; I'd lower taxes for everybody and institute a flat tax if I was in charge. But I'm not.

Flat tax eint good ether, you should charge those who can aford to more and those who cant less.

[Harry Smith]

No, it simply doesn't work in countries such as Britain or France where Health and public services need large amounts of funding, this is because the low tax reduces revenue and if it does generate wealth that goes towards the private sector

[jayh]

I do, believing that whenever ANY demographic is taxed less, it is good for the economy, assuming the government can still afford to defend the nation and the rights of it's people.

Do you think reducing tax rates (for any demographic) would result in less revenue for the government?

[Walter Powers]

Do you think reducing tax rates (for any demographic) would result in less revenue for the government?

No, because the economy would get better as a result of low taxes. So. While the rates may be lower, more money would flow into the treasury: we saw this under Reagan and a bit under Bush and Kennedy also.


No, it simply doesn't work in countries such as Britain or France where Health and public services need large amounts of funding, this is because the low tax reduces revenue and if it does generate wealth that goes towards the private sector


Maybe that's a good argument as to why you should reduce those services.

[Walter Powers]

Flat tax eint good ether, you should charge those who can aford to more and those who cant less.

I'm not debating with you about this. As a communist, you want a 100% income tax on everybody.

[jayh]

No, because the economy would get better as a result of low taxes. So. While the rates may be lower, more money would flow into the treasury: we saw this under Reagan and a bit under Bush and Kennedy also.

Ok, there's other countries in the world that have proven lower % tax rates = higher revenue to government. Problem is
1/ a lot of people do not understand this
2/ even if people did understand 1/ they would still say tax the rich more out of envy - ie punitive taxation

This is why the western world is in such a state. Governments have to impose higher taxes to get elected but the people/companies earning enough to pay these high taxes employ every trick in the book to avoid paying the taxes

[Walter Powers]

Ok, there's other countries in the world that have proven lower % tax rates = higher revenue to government. Problem is
1/ a lot of people do not understand this
2/ even if people did understand 1/ they would still say tax the rich more out of envy - ie punitive taxation

This is why the western world is in such a state. Governments have to impose higher taxes to get elected but the people/companies earning enough to pay these high taxes employ every trick in the book to avoid paying the taxes

Exactly.

[Cygnus]

It would work in theory but hey, communism works in theory. That would be a very damaging thing if the government's focus was economic equity. In fact socialist countries would not be able to do that if they would like to keep healthcare free.

[Walter Powers]

It would work in theory but hey, communism works in theory. That would be a very damaging thing if the government's focus was economic equity. In fact socialist countries would not be able to do that if they would like to keep healthcare free.

Why would you need free healthcare if you are paying less taxes?

Trickle down economics doesn't just work in theory, it's proven itself. Look at America in the 80s back when in the days of Reagan and Thatcher.

[Cygnus]

Why would you need free healthcare if you are paying less taxes?

Trickle down economics doesn't just work in theory, it's proven itself. Look at America in the 80s back when in the days of Reagan and Thatcher.

You see people are selfish, especially rich people, they won't create more jobs with that extra money they will most likely keep it. And the ones who don't will be very few to make a difference. No matter what the US tries it will still fall economically, and I am waiting for that day with open arms.

[Walter Powers]

You see people are selfish, especially rich people, they won't create more jobs with that extra money they will most likely keep it. And the ones who don't will be very few to make a difference. No matter what the US tries it will still fall economically, and I am waiting for that day with open arms.

Why wouldn't rich people invest their money? Unless they are stupid, which is unlikely becausemost upper class americans are self made, and thus probably have some brains, they want to get richer! What you've got is never enough. That's how capitalism makes people so productive.

Why do you want America to fail? You want to be a Chinese citizen?

[Cygnus]

Why wouldn't rich people invest their money? Unless they are stupid, which is unlikely becausemost upper class americans are self made, and thus probably have some brains, they want to get richer! What you've got is never enough. That's how capitalism makes people so productive.

Why do you want America to fail? You want to be a Chinese citizen?

I'll surely have a chinese passport if I can, when the US fails it will be the chance for so many countries to shine!

[chrisawesome]

Flat tax eint good ether, you should charge those who can aford to more and those who cant less.

That is the most stupid and inconsiderate thing I've ever heard. Wealthy pay almost HALF of their income in taxes. Taking from the rich and giving to the poor is a horrible way to run a government. That sound like theft, "They have more money so lets take more from them." There will no longer be rich and then what, Communism. The government that brainwashes its citizens, causes world wars and degrades all of its citizens into one class. --Taxes should not be deducted in that manor! Everyone should pay a set percentage of their income if you make $30,000 a year you pay 25% income in taxes or if you make $5,000,000 you pay 25% in taxes. Why tax a cardiac surgeon that makes lets say $600,000; more because he preforms heart transplants, and someone who sweeps the floors at walmart hardly gets taxed. Who contributed more to society? The heart surgeon of course!

[Walter Powers]

I'll surely have a chinese passport if I can, when the US fails it will be the chance for so many countries to shine!

Yes, the Communist party will rise. Your correct about that.

I like freedom of speech, but that's just me.

[tovaris]

I'm not debating with you about this. As a communist, you want a 100% income tax on everybody.

What is wrong about income tax?

That is the most stupid and inconsiderate thing I've ever heard. Wealthy pay almost HALF of their income in taxes. Taking from the rich and giving to the poor is a horrible way to run a government. That sound like theft, "They have more money so lets take more from them." There will no longer be rich and then what, Communism. The government that brainwashes its citizens, causes world wars and degrades all of its citizens into one class. --Taxes should not be deducted in that manor! Everyone should pay a set percentage of their income if you make $30,000 a year you pay 25% income in taxes or if you make $5,000,000 you pay 25% in taxes. Why tax a cardiac surgeon that makes lets say $600,000; more because he preforms heart transplants, and someone who sweeps the floors at walmart hardly gets taxed. Who contributed more to society? The heart surgeon of course!

The welthy can aford to be taxed more.
Communism knows no brainwashing, no taxes and no curency.
So what if you earn more that only means you can aford to pay mor.
Is the poor spend mor in capitalism, mor wealth is intern created, that is why the lower classes should have little or no direct tax.

[Cygnus]

Yes, the Communist party will rise. Your correct about that.

I like freedom of speech, but that's just me.

The thing is, when the US falls and China rises it does't mean everyone will be part of them and be communists, I'll surely get a chinese passport to make traveling easier and its done. When the US fails Chile, Chine, Germany, Brasil, Russia, Colombia, Panama, and money more countries will shine.

[Walter Powers]

The thing is, when the US falls and China rises it does't mean everyone will be part of them and be communists, I'll surely get a chinese passport to make traveling easier and its done. When the US fails Chile, Chine, Germany, Brasil, Russia, Colombia, Panama, and money more countries will shine.

I think without the superpower's military things will get very unstable very quickly,

[Cygnus]

I think without the superpower's military things will get very unstable very quickly,

Who needs the US military? Let them starve or get useful jobs instead of waging useless wars

[Walter Powers]

Who needs the US military? Let them starve or get useful jobs instead of waging useless wars

How dare you wish such a tradgedy upon our men and women in uniform! What country do you live in, anyways, Cuba?

[Cygnus]

How dare you wish such a tradgedy upon our men and women in uniform! What country do you live in, anyways, Cuba?

I dare wish that because I can, all the US military does is increase the gringo debt and stress civilians of other countries. If I were from Cuba we wouldn't be speaking you know?

[Walter Powers]

I dare wish that because I can, all the US military does is increase the gringo debt and stress civilians of other countries. If I were from Cuba we wouldn't be speaking you know?

What country DO you live in, though?

[kenoloor]

Who needs the US military? Let them starve or get useful jobs instead of waging useless wars

I dare wish that because I can, all the US military does is increase the gringo debt and stress civilians of other countries. If I were from Cuba we wouldn't be speaking you know?

Oh hey look, a voice of reason.

[Taryn98]

Reagan did it and had a net tax decrease (although I know he raised certain taxes several times, the net was a decrease), and he created 20 million new jobs and simultaneously doubled tax revenue for the governement

[Cygnus]

What country DO you live in, though?

I live in Colombia, which is not the country I am originally from.