Posted by mchalesarmy on 6/11/2014 2:38:00 PM (view original):
moy, do you think that it's possible?
Do you see the point about what Reagan did and how it was absolutely the right move, but we should have went back after we recovered yet we went even lower?
Do you see how that absolutely favors the guys at the top and how it is probably, likely, at least part of, the reason that the top 20% has been doing much better since the 90s whereas the middle class has been dwindling?
Anything is possible.
Personally I am not fixated on the 1%ers or 'the guys at the top'. I wish them continued success. I personally prefer incentivising over penalizing. I find it ironic that the very people complaining about a 15% capital gains tax are the very people that need it the most. Real wealth is generated in the market. Its not made in savings accounts. They should stop complaining and start investing.... Even if that means scraping up as little as $500 a year.... Or for the 28% of those below the poverty line that smoke could quit and invest $4000 a year ;) then again this all boils down to financial 'education'. Unfortunately too many people don't know or don't care.
In general lower taxes are better.... They incentivise growth which then adds to revenues when done correctly. In Illinois we are losing business to Indiana and if you didnt know Indiana is a shithole (no offense ;)... So its not for charm that business is relocating there... Its for tax incentives.
The only time raising taxes is good is if you want to keep out the riff raff. Think about it... If you can't afford the property taxes you probably aren't going to move there?
Was Reagan correct? Was he not? I don't know. I don't think the revenue side of the equation is the problem.... I think its the spending. Its out of control.
6/11/2014 3:02 PM (edited)