Interesting article in today's paper

[whenwegoin]

http://www.timesfreepress.com/news/...wealthy-weakens-so-does-economy/?breakingnews

It will be interesting to hear opinions from the left and right.

 

[Buoy-Master]

Bottom line...we need the rich to stay rich and spend that money! Taxing them to death wont get us there.

 

[SpurHunter]

I have been saying this for a long time. Its plain and simple economics folks.

I have never been "rich", but when I made 4 times the money I do now, I spent a LOT. I bought a $52K truck I didnt need, a Kubota tractor with lots of expensive attachments, a Polaris Ranger, lots and lots of tools from Northern, Lowes, Home Depot, etc. We ate out alot more often, took a couple cruises, bought a pool, a Brunswick Air Hocky Table and high-end Foosball table, and the list goes on. The majority of this was spent locally.

I just can't figure out why some folks dont get this. emoScratch emoScratch emoScratch emoScratch

 

[Bfish]

SpurHunter - 8/2/2010 1:19 PM
I just can't figure out why some folks dont get this.

Just curious, when you made 4x more did you spend 4x more? Reason I am asking is that most don't spend but 2-3x more. The 1-2x difference is not then available for trickle-down effects.

 

[Bfish]

BBass - 8/2/2010 12:50 PM

Bottom line...we need the rich to stay rich and spend that money! Taxing them to death wont get us there.

Ah said like a true trickledowner. To bad these days it is more like trickle-out with the likes of MallWart sending money to overseas producers. Trickledown has been the norm since WWII, yet no one can show that it works. If it did, we would have no deficit.

Basically a return to 2001 tax levels for the top 2 tax brackets, IMO is not going to "tax them to death". The very top bracket goes from 35 to 39.6%, 4.6% in 9 years doesn't really even cover inflation for the time period.

Please read: http://www.taxpolicycenter.org/taxtopics/2010_budget_high-income.cfm

 

[Eyeman2]

Theres a little envy in all.
Rather work for a man who owns 4 shovles or 4 back-hoes?, 4 riding mowers or a sling blade?
If you don't like Wal-Mart practices, don't shop there.
If the Corporate tax were dropped/lowered, the companies whould come back to the USA. Government needs more $$ to give away, just ask Maxine Waters, & Charlie Wrangle.
New electric/green cars by GM, check out the price. Rather have a used 08 F-250, last longer.

 

[outcaster]

It's the economy Stupid!..... It sucks! "Stupid" is not referring to anyone living or dead that has posted, or may post in the future.