[quote]jsbrook wrote:
As a fairly rich person, I can tell you a tax hike doesn’t change my behavior when it’s not exorbitant. It doesn’t stop me from spending and ‘creating wealth’. Of course, it can get excessive.
And I don’t like my money being pissed away. But no one is talking about going back to a welfare state or unreasonable taxes. I don’t mind doing my part. To a degree.
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The point is the people he wants to tax even more are paying 90% of income tax already. People that pay no tax will get a check. Sounds like buying votes to me.
This makes absolutly zero mathmatical sense unless you were planning to hide that money under you matress. $1000 in the economy is $1000 in the economy. It matters little who actually spends it, assuming it is not gov’t. The other problem is the cost of taking from one person and giving to another.
All those bureaucrats in the middle cost money. A $1000 chech sent to 95% of americans cost money. This money is being diverted from useful spending. Anytime gov’t touches our money, they are clouding market signals and distorting our economy.
Good for you, some of us are and are already paying an incredible amount of tax. It sounds like it may be more like $150k when you really dig in. Even if it is $250k it is going to cost all of us money.
Anyone making $250k, anyone that works for a small business, anyone that buys goods or services from a small business, or anyone who works for a business that buys goods or services from a small business. It also encourages tax sheltering and hiding of income which = less revenue for the fed and more debt. Sounds good huh?
Redistribution of wealth has never made an economy stronger and it never will. Consumer spending does very little to influence the rise and fall of the economy.
As a matter of fact when the gov’t artificially raises consumer spending, it only adds to the errored forecasting by businesses that causes the business cycle (boom and bust).
The business cycle is responsible for rises and declines in the economy. Booms (the problem),and busts (the correction)are both a part of the business cycle. They are created by businesses not being able to predict future demand.
Gov’t is now creating false demand (boom) and slowing any kind of correction (bust). They give us even bigger booms and busts that last much longer than they should.
When they create subsidies, lend money at 2% interest (basically free), create money (debt), encourage risky behavoir, etc. they are creating a tremendous boom by clouding real demand signals.
The bust is nothing more than a correction to their collasal fuck up. Then what do they do? They try and slow down the correction. Brilliant. Loan more more money, create more debt, bail out incompetent businesses, and discourage sound investment by writing consumers a check that will likely be spent like the unearned money that it is.
Vegas anyone?
