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Do you believe in trickle down economics concept Reagan introduced in the 80's cutting income taxes especially for the very rich?
Hispanic-Cool-Guy
Master
- I don't know. I do NOT believe in progressive taxes.
I think people should pay X% of what they make.
Not... you pay X if you make 20,000... You pay X plus 5% if you make 30,000... you pay X plus 10% of your earnings if you make 100,000... you play X plus 20% if you make 250,000.
I believe it is immoral for an elected body of corrupt people to sit around and play God with how much of people's own money they are allowed to keep.
Well you make a lot so we'll take half of it and waste it all on corrupt spending. Owe you make even more, we'll take an even higher percentage from you.
Governments should live within their means. They should be small, they are too bloated and corrupt and we work, we go to school, we get advanced degrees, with spend 40-60 hours a week toiling, sweating, putting force effort, dealing with stress, coming up with ideas, problem solving... etc. to earn a living for ourselves and our families.
We do not work to give it all to the government which is evil... full of bloated, lifelong corrupt morons who have done nothing their lives but run for office and declare to be wise and altruistic, but are in fact deceitful, worried with paying off those who help them, padding their own pockets, having a unending army of bureaucrats making big salaries with cushy government, tax payer funded jobs for life... endlessly wanting to raise taxes so they can get richer, be more corrupt... coming up with endless idiotic programs that do not work.
I'm not obsessed with "tax breaks" like those are that LOVE government... who LOVE taking more and more money from people... they are evil.
Set a moderate tax number. Everyone must be X percent of what they owe. If you make more... you pay more because the same percent of a bigger number results in a bigger number... I do not agree with taxing everyone at different percentages and taxing the hell out of bigger incomes.
This country was started because people wanted liberty. The government here has time and time again turned into King George... we exist at the whim of the government and to serve the government and to be a bank for all of the evil members to be corrupt and dishonest.
F... CK taxes. Set one moderate tax... and end it. Government lives within that means or it can't pay all of its idiotic crap. Good. Pick the important stuff... fund it... find a way to do it at a reasonable cost cut all the fluff crap that was NEVER the governments roll to begin with.0|10|0Is this still revelant?
Most Helpful Guy
- It's certainly putting opportunity in "land of opportunity".
Instead of complaing about how businesses make bulks of money and individuals dont.
Go start a business. Become the CEO of the next Wal Mart.
Jeff Bezos that everyone hates so much for being rich didn't start out that way.
He was an average person with little to no money to his name at some point. But he went into a crazy venture a lot of years ago "online book store" many called it crazy, said there is no market for it, so he created the market.
And business decisions after business decisions turned amazon into the giant it is today making him the richest man on earth (or second richest depending on what day of the week it is)
But he earned that money it wasn't given to him for nothing.
You too can do that. You can start a business today that if successful would have you sleeping on a yacht a decade from now that's the beauty of capitalism your work pays if you know where to put it.
Basically it rewards working smarter and taking more risks over working harder in a manual labor job with no room for promotion0|00|0Is this still revelant?
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121- I don't think that income taxes need to be cut, but corporate taxes should be.
I've seen it first hand with the tax cuts a couple of years ago, my company gave everyone bonuses and raises with the extra money. Does that mean all companies do it, heck no.
Corporate taxes are never paid by businesses anyways, businesses never pay any taxes, regardless of the rate. They merely become taxman for the government, just like those conservatives that said businesses would pay tariffs, same thing... the end consumer always pays the tariffs and business taxes.
It is because no matter the rate, businesses just raise the cost to pass on to customers who then will pay those taxes. If you like a 100% corporate tax rate would just make everything cost more.
Personally I think income tax should go away, never should been allowed in the 16th amendment. It allows the government to control us by deciding who gets what kinds of deductions or credits and wealth transfers from person A to person B based on their own life style choices, such as having more children. The income tax system in very unfair and if we have to have it, it should be a flat percentage based tax with no deductions regardless of income, poor or rich.0|10|0 - It’s undeniable that it exists. When corporate tax rates are raised, the rich whales in the stock market sell off, and it negatively impacts the middle class’s 401ks. Employees are also laid off because they have to make up for the costs. Economics 101 tells us that when corporations raise prices, demand goes down. When they lower prices, demand goes up. Look at literally any supply and demand curve. When there are tax incentives given to landlords, more housing becomes available. When we have less regulation in markets, more jobs are created. When the rich have access to more leverage, everyone’s 401ks go up. Everything in economics is interconnected, and the wealthy add a large amount of valuation to assets and firms which then direct the middle class. Here’s a basic circular flow diagram.
This is basic economics. It factually does trickle down. The top 10% control many aspects of our economy. 0|10|0People think taxing Jeff Bezos more comes out of his personal income. No, if he has to pay more taxes, it’s coming through his corporation, thus the employees have to pay the price. Tax the rich land lord and those tenants will have shittier living conditions.
- The concept of Trickle Down Economics, (TDE), first tried in the early 1900's, led to the first economic collapse for the United States and therefore, the world. Reagan, an actor with absolutely no economic education, proposed and got passed, what we now call Trickle Down Economics. I led to a short upturn in corporate production but it furthered the wealth of the manufacturing CEOs, CFO's and others a well as a boom in the Wall Street crowd. Each time a Democrat was elected our economy was put back on a path to recovery. Each time a Republican was elected, they used the Reaganomics form and put us further in debt to foreign powers, while making the rich far richer and the average working stiff poorer through stale wages as inflation exploded.0|00|0
- Yes. Although there is not really any such thing as trickle down economics. That's a derogatory term made up by the media. It refers to supply side economics.
You could say that all economics is trickle down. If you tax the rich, it still trickles down. It just trickles down through a different and less efficient route.
If not for supply side economics, you would not be using GaG. You would not be using most other advanced technologies either. The money to fund that kind of research doesn't come from thin air.0|10|0 - Is it true that cutting taxes for the rich has a small but positive effect on the middle class? Yeah of course, that’s just common sense. But I don’t believe in a progressive tax system at all anyway. Individuals should all pay the exact same percentage of their income in taxes. Corporate taxes and capital gains taxes are more complicated. But private income taxes shouldn’t be progressive.0|10|0
- Not just the rich benefitted from Reaganomics. Lots of people were employed and businesses flourished. The people at the bottom of the ladder did not do so well because of Reagan's anti-welfare state policies.
Trump also incorporated a tax cut. As a result, businesses moved back to the US and we had record low unemployment across all demographics. My taxes actually went down and my 401K doubled under the Trump administration.0|10|0Mine actually quadrupled under Trump, it barely grew under 8 years of Obama but went up four fold with Trump, go figure.
Anonymous5 dIt's called supply side economics actually and it's been proven to work over and over again. Because government is incompetent they have spent trillions in the last year and most people life got worse and people think giving them more money is a good idea.
Liberals just call it trickle down economics so when you Google that that's all that comes up and they could make pee jokes it's about controlling the narrative by controlling the words.0|10|0It works great for corporations millionaires and billionaires %1 but not the common man and woman which is like 96% of the general population.
The GOP have convinced stupid conservatives of social welfare or they are being envious of the rich B. S. narrative.
There's a reason America is falling way behind in education, technology, healthcare, homelessness, clean energy and happy index around the world among 1st class countries.- Show All Show Less
- Opinion Owner5 d
So you have no argument just keep on crying. It's a known fact social programs keep people poor I grew up very poor and seen it 1st hand the vast majority people on them are never going to get off because there designed to keep you poor basic every government program is like that.
I bet you love social security but did you know if you took the same money invested yourself you have far more in retirement and you would be able to give it your kids not just have it lost when you die.
The reason why were falling so behind is because of high taxes and massive amounts of social programs. It's funny you can see your ideas haven't been working for decades everything's been getting worse all your ideas have been being used and you still don't understand their terrible ideas. Apparently those ideas I esspouse tend to work Europe and other parts of the world except America.
At least they have enough sense to not want to see homeless people living out of tents on the streets, strung out on drugs, have advanced and better technology, education and Healthcare.- Opinion Owner5 d
What ideas Europe is not in a good place either. You seem to think they just magically get free health care something you do know there's massive denial of care and most people if they have any money at all come to America or pay for private health care in basically every country with government run health care. America has the best health care in the world the problem is massive amounts of regulations like limits on doctors and nurses that could be licence in management discounts for insurance companies so it looks like more on paper.
Also if your poor America health care is free in many ways get free from the government also the hospitals give free health care to poor people to keep their nonprofit status you just have to fill out the paperwork it's on their website.
Funny the places with those biggest problems are California and New York both super Democrat. Seems like your problems actually with democratic policies but you're so brainwash you cannot say it all your problems exist mainly in democratic controlled areas Funny thing is California and New York are both the best states people love to visit.
New York and L. A. is the entertainment capital of the world and offer the best of everything there's is to offer, rather than pathetic poor Mississippi filled with conservative Neanderthals.- Opinion Owner5 d
No there not people are not going there any more everyone fleeing both of them. Actually most of entertainment is done out of state because of tax reasons. Look up where the film is actually done.
It's very clear your gist envious of people with more than you so you want the government to take it from them because you have no way of making something for yourself you realise because you lack steals intelligence you can't even understand basic concepts that are going on just keep crying how everything horrible for you because the evil rich people but the truth is your life is terrible because of yourself Not true at all. Silly conservatives don't realize they support policies that don't benefit them at all.
If anything the policies you are advocating for benefits liberals the most since they tend to be the very rich, educated and creators of amazing platforms and technologies.
Conservatives tend to be poor and very uneducated only good working with hammers and nails living around cows and chickens in rural areas with two gas stations in town. Lol- Opinion Owner5 d
There's no stats like that you just making stuff up to fit your narrative that has nothing to do with the argument your basically saying you agree with me There's no stats like that you just making stuff up to fit your narrative that has nothing to do with the argument your basically saying you agree with me there damaging policies Liberals like hurting themselves for some reason is basically argument at this point
There’s a reason, but it’s not because of what you’re claiming. There’s a lot of depth to this problem.
- I hope you'll forgive a tipsy voice with poor English for this one:
https://voca.ro/12pIvbgnBxEZ1|00|0And the name of the concept I was referring to escaped my tongue in the recording, but it's Hauser's Law:
I see corruption as more variable than tax revenue from high marginal income tax rates.I thought you're English will be more refined as you are part American. Lol...
I've grown quite rusty -- part of the reason I'm tempted to do voice more is to appear more friendly since I find political discussions are so divisive, but also to try practicing English more especially after COVID. Before COVID lockdown, I at least got some practice here and there traveling to the US for business trips and talking to my colleagues. Now I'm totally out of practice.
- Show All Show Less
To your last point.. It takes a serious government with a iron fist so that B. S. corruptions won't be tolerated. It's insane Jeff Bezos makes 13.4 million dollars a hour and 321 million a day.
People like him need to see their taxes raised to at least 50%. Even Warren Buffet and other Billionaires like Bill Gates agree that the super rich don't pay enough in taxes.Agreed but one thing I remember Bill Gates talking about if I recall correctly is a different kind of tax, such as a greater focus on consumption taxes and excise taxes. A problem I see is that if we see the richest people as the worst people (a view I don't share exactly, but I don't entirely disagree), then they're probably also quite devious and clever. We put more pressure on them and then they find ways to escape in ways that end up hurting everyone else much more and deflects the harm away from them. At least that is my basic understanding and interpretation of the subject.
@AmandaYVR I still got so many "umms" and "you know" and things like that. I find that a sort of habit when I am trying to think of what to say and it tends to get worse the more I cease to practice and/or get drunk.
You're not giving a speech. Your just talking about ideas, off the cuff. It's totally normal. It also gives the listener a bit of time to process what you've said.
Honestly, as long as you don't leave the house, you're a pretty functional drunk.
Nothing to worry about.
- I believe it because its true. I am an investor and business owner that caters to mass consumer services and products. Think car loans, stuff everyone needs. When my taxes go up, i charge people more for services. They can't say no. So it directly impacts poor people. It does not actually impact business owners or investors much because we just pass through all costs to the consumer. So taxes and fees on the rich are essentially paid by poor people.0|20|0
- I believe ERX, BCBP, XLE, and VDE trickled me some shekels today.0|00|0
- I think you need to stop envying people who made it further in life than yourself. It takes an intelligent mind to accumulate billions. Nobody inherits that much.0|00|0
Believe it or not I'm not envious at all as a person nor possessions matter to me much except smartphones, a car to get around, clothes and my hygiene products.
I just think to advanced as society for the well being of all and to make a nation a mini paradise to the best of ability as a nation, not just for the select few.Instead of whining about how everything is unfair like a liberal why don’t you work to advance yourself?
Like its just not helping anybody. The rich operate our government and so unless you want to start some sort of bloody revolution where millions of people get killed, that’s the way it’ll always be
- In theory, it should work, but it doesn't seem to. Robert Reich thinks it doesn't work.0|10|0
- I believe the government should cut taxes for everyone and institute a flat tax every gets the same percentage of their income taken out of their take home pay no negotiation except for what the money is spent on0|00|1
No man, how can you possibly tax a secretary at the same rate you would tax a CEO of a fortune 500 company?
Government needs money to fund public education, military, housing projects for the poor, healthcare for the elderly among many other social programs etc that are needed for the service of citizens and the country.
- If cronyism doesn't get out of the way, it'll never work. But trickle down poverty? That's guaranteed !0|00|1
- Supply side economics have created the greatest booms in history... The 1950's, Reagan and Trump.0|10|0
- It's great for rich people and screws everyone else. The trickle-down is the wealthy pissing on everyone else.0|10|0
- The top 10% pays 70% of the taxes collected. They’re overtaxed.0|10|1
- It has never worked, only put the government in debt0|10|0
- i believe it doesn't work0|00|0
- It works. Always has , ask JFK.0|00|1
This is basic economics. It factually does trickle down. The top 10% control many aspects of our economy. 
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