9 Things The Rich Don't Want You To Know About Taxes

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http://wweek.com/portland/article-17350-9_things_the_rich_dont_want_you_to_know_about_taxe s.html

For three decades we have conducted a massive economic experiment, testing a theory known as supply-side economics. The theory goes like this: Lower tax rates will encourage more investment, which in turn will mean more jobs and greater prosperity

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(cont.)

5. And (surprise!) since Reagan, only the wealthy have gained significant income.

The Heritage Foundation, the Cato Institute and similar conservative marketing organizations tell us relentlessly that lower tax rates will make us all better off.

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(cont.)

8. Republicans like taxes too.

President Reagan signed into law 11 tax increases, targeted at people down the income ladder. His administration and the Washington press corps called the increases

[Loneshot]

This country...wtf man. Thanks for sharing. Where's Robin Hood when you need him:(

This country is becoming...this country is very depressing.

[joe]

Sorry if I'm off base, I didn't read the whole article. But the first paragraph seemed to indicate this thought: "Hey look, we've TRIED libertarian ideas and they aren't working." BS

No. We have not used many libertarian principles in our economy in the last 50 years. And yes, they do work when they are allowed to.

The idea of lower taxes leading to higher investment leading to prosperity has not been "disproved." People like Milton Friedman don't think JUST low taxes on the rich = prosperity. You also need a free market, you also need sound money. You need a naturally set interest rate and small government. You need a lot of things that we do not have, in other words.

Also, look at corporate taxes. People always just look at the money we take from the rich persons pocket. Look at how much we tax their businesses, and you might see why so many of them flee the US in the first place. Not to mention all the regulations, which loses them money as well.

[Godzuki]

Sorry if I'm off base, I didn't read the whole article. But the first paragraph seemed to indicate this thought: "Hey look, we've TRIED libertarian ideas and they aren't working." BS

No. We have not used many libertarian principles in our economy in the last 50 years. And yes, they do work when they are allowed to.

The idea of lower taxes leading to higher investment leading to prosperity has not been "disproved." People like Milton Friedman don't think JUST low taxes on the rich = prosperity. You also need a free market, you also need sound money. You need a naturally set interest rate and small government. You need a lot of things that we do not have, in other words.

Also, look at corporate taxes. People always just look at the money we take from the rich persons pocket. Look at how much we tax their businesses, and you might see why so many of them flee the US in the first place. Not to mention all the regulations, which loses them money as well.


Considering a lot of the biggest companies didn't pay taxes and rich people in general in the U.S. have written off so much where they have little to no tax liability, and most taxes seem to come from average people who hire H&R block for half ass tax returns with no deductions because they can't afford to hire better CPA's, i don't know how you can say that.

We are a free market economy. The LAST thing we currently are is a socialist country no matter how much you want to exaggerate we are. And the problem with what you're pretending to argue is Wall Street already bamboozled all of us, they're still the backbone of investing, still paying CEo's hundreds of millions because they can, because we're stupid enough to make what they do the backbone of how we as a country invest, and what you suggest is just giving them more freedoms to bamboozle us even more.

I will never understand how so many people pretend to argue for the top 1% as it is :facepalm

[mcrd101]

items 7 and 8 i saved to a document :cheers:

[dak121]

Can't say I'm too shocked about the many of the points made, but I'm just about speechless at how the McCourt's could spend $45 million in a year without paying a dime of income tax.

They haven't paid any since 2004. Unreal.

[PowerGlove]

Knew some of this, but some of this shit made me sick.

[Mr. Grieves]

Sorry if I'm off base, I didn't read the whole article. But the first paragraph seemed to indicate this thought: "Hey look, we've TRIED libertarian ideas and they aren't working." BS

No. We have not used many libertarian principles in our economy in the last 50 years. And yes, they do work when they are allowed to.

The idea of lower taxes leading to higher investment leading to prosperity has not been "disproved." People like Milton Friedman don't think JUST low taxes on the rich = prosperity. You also need a free market, you also need sound money. You need a naturally set interest rate and small government. You need a lot of things that we do not have, in other words.

Also, look at corporate taxes. People always just look at the money we take from the rich persons pocket. Look at how much we tax their businesses, and you might see why so many of them flee the US in the first place. Not to mention all the regulations, which loses them money as well.

You should read the entire article. And your other requirements for your economy to work will never be in place.

@OP: Thanks for sharing, and ruining my day. :cry:

[Sarcastic]

Sorry if I'm off base, I didn't read the whole article. But the first paragraph seemed to indicate this thought: "Hey look, we've TRIED libertarian ideas and they aren't working." BS

No. We have not used many libertarian principles in our economy in the last 50 years. And yes, they do work when they are allowed to.

The idea of lower taxes leading to higher investment leading to prosperity has not been "disproved." People like Milton Friedman don't think JUST low taxes on the rich = prosperity. You also need a free market, you also need sound money. You need a naturally set interest rate and small government. You need a lot of things that we do not have, in other words.

Also, look at corporate taxes. People always just look at the money we take from the rich persons pocket. Look at how much we tax their businesses, and you might see why so many of them flee the US in the first place. Not to mention all the regulations, which loses them money as well.

The article didn't say we tried libertarian ideas. It said we tried "supply-side" theory, and it hasn't worked.

There will never be a totally free market as Friedman wants, and there will never be a total socialist socialist society to make an appropriate comparison.

[Disaprine]

Knew some of this, but some of this shit made me sick.
feel you bro