http://www.forbes.com/forbes-400/ How come the job creators aren't creating the jobs? Where is the trickle down? They have all this new wealth in a bad economy....but hiring is down. Hmmmm, I guess the lesson here is we need to make them even richer!!!
Does it matter if they get richer as long as jobs are created? You haven't demonstrated any causality.
He's not trying to demonstrate causality. He's trying to show the disconnect in supply side economic theory vs. practice. Something that has been evident for 20+ years, but now the evidence is literally piling up over our heads...
No kidding. "Liberals" with their stupid bias don't understand the economy. They would point out things like the effective tax rate on millionaires in 1995 was 30.4% and the unemployment rate was 5.4%. But then the effective tax rates on the wealthy have plummeted down to 22.4%, and unemployment rate has actually gone up to 9.3%. But those are just numbers that mean nothing. Without the rich getting richer, that unemployment rate would be at 20% right now. The rich people are the only thing keeping our economy in a recession rather than a depression. Think about it, what would America's GDP be without these millionaires and billionaires? That's right, we just might be behind China. We should thank the rich everyday for playing their major part in insuring America is the greatest country in the world.
You're just making an observation (using a miniscule number of data points no less). You haven't explained anything (how do high tax rates lower unemployment?), you've simply observed an association based on two data points. Bad logic and bad science.
Whoa. Somebody run and get my thesaurus, Dr. Einstein here is pulling out the $3 words. Oh that's right, I don't have one because I can't afford it. Guess that means I don't deserve one either. Better just stand pat and let the osmosis effect - I mean the trickle down effect to kick in. Waiting for it to happen aaaaaany second now.
Wolfram alpha is awesome. Please look at this: http://www.wolframalpha.com/input/?...+vs+effective+tax+rate+high+from+2000+to+2010
It's actually the opposite. Basically, high tax rates don't cause unemployment and this trickle down theory just isn't true.
He isn't showing causality. What he's showing is that it isn't true that if the rich get more money and lower taxes they hire more people and our economy is better off. Yet you still have people crying at any threat of the wealthy paying more taxes while suggesting we cut services that help the poor and middle class.
IT'S BECAUSE THE JOB CREATORS ARE SHACKLED BY THE FACT THEY CAN'T MAKE AMERICANS CLEAN THEIR SHOES FOR $3.20 AN HOUR! Infamy! Tyranny! http://www.washingtonpost.com/opini...ates-no-jobs/2011/09/20/gIQAhpgGjK_story.html
Except the government is nearly bankrupt, after 10 years of Bush Tax Cuts. The job creators got spooked with a nearly bankrupt government and started pulling money from the stock market and stopped investing in new business ventures. The GOP way: Cut taxes and increase spending. Bankrupt businesses. Things were better under Clinton, when we were running surpluses. Even though the rich were paying more taxes, they didn't have to worry about the US going bankrupt. With higher taxes, they were starting more businesses and increasing hiring.
You made a number of jumps in logic in that post. 1. Most of those millionaires have made their money by making jobs for people in other countries as much as they have in the US 2. GDP is one of the most worthless stats in the world because all it values is production and take into no way efficiency and resultant cost because of negative production. 3. If America's "numbers" are being improved by the millionaires and billionaires, that would suggest they are moving the mean up. In otherwise, the mean and the median or not at the some point and you have an uneven distribution wealthy that is being masked by looked at overall numbers and averages without looking at medians and standard errors/deviations. 4. Rich people making money does not create jobs in a credit base economy. Most all businesses are left as a separate entity so that when they make money the people running them do not lose all their positions. People make jobs and invest in their business based on taking loans and credit ratings. It is all based on their earnings over the past few years, some minimal down payment, and the current infrastructure. On top of that, for anything not service based, most of that infrastructure no longer exists in the US, so it doesn't effect most Americans anyways.
Because the rich took that money and invested it into these and other similar things that will cut the companies expenses over time, why do they care? When the resources run out in America they will just move on somewhere else.
I heard a report on BBC the other day, talking about how sales at ultra-luxury companies like Rolls-Royce are currently booming, growing significantly year-over-year. If you want to know where the money is being "reinvested" that would be a good place to start. When you lower the personal rate, you give the wealthy more incentive to take profits, instead of reinvesting in the company and the employees.
GOP and brainwashed nationalist capitalists and free market fetishists. When will America learn? The rich aren't getting their money out of thin air, they are getting the money from us.
