A 1 percenter tells the truth about "job creators"

[asterism]

My income trickles down and out.

My income comes from the wealthy.

When I have more, I spend more.

That's just your situation though. That is not most people.

The money that most people make is dependent on a healthy middle class.

Walk through any mall. All those jobs are there because of the stuff middle-class people buy, which keeps that mall going.

I'm sorry, but Donald Trump doesn't go to the mall.

I speculate that Trump hires people to do his shopping. Trickle down indeed.

 

[asterism]

My income trickles down and out.

My income comes from the wealthy.

When I have more, I spend more.

Our corporations are richer than they've ever been...so...why are the working poor getting poorer? That trickle down doesn't seem to be working.

I'd like to see some proof of that.

Is the aggregate actually more or are few corporations richer due to consolidation?

And by "richer" I mean net worth not just assets.

 

[asterism]

so we cut taxes for the middle class and up taxes on the rich

Didn't that drag out the Great Depression until Reagan?
.

Well ACTUALLY, NO it didn't, silly con.

Socialist policies, REGULATIONS and WWII, put people back to work, ended the depression.

The depression caused by deregulation, by the conservatives of the time.

from the end of WWII until REAGAN took office, there was little national debt.
The Dems controlled congress for that 40 years, PERIOD.

The Rich had high taxes, the middle class had similar taxes to today.

the Middle class boomed.

Cons like to rewrite History.

Shall we now discuss how Reagan TRIPLED the national debt, since you bring him up?

Bring us back to the 90% top income tax rate but revoke Obamacare, Medicare, AMT, and EITC, then bring back the offshore tax havens and allow the losses from one corporation to be used to reduce the income of another corporation and I'd agree that it's better than what we have now.

 

[asterism]

]
If no one produces IT, you can't buy it, regardless of how much you're willing to pay.

Silly.
If you will pay ANYTHING for it, you just have it made.

Then why are there no time machines?

take the basic economic equation of supply and demand in relation to cost.

make Demand ZERO and the equation collapses.
cost crashes, and supply becomes worthless.

If you make supply zero, it causes the Demand and cost to SPIKE.

Not if you make supply zero. Cost spikes only as it approaches zero. If supply is zero, everything else is zero also. There is ZERO supply of live dinosaurs. How much does one cost?

If you make cost zero, Demand spikes and supply is strained.

Demand does not spike when the cost is zero, it doesn't even spike if cost approaches zero. Old fax machines are free. What's the demand for them compared to 25 years ago?

lack of Demand is the only thing that crashes the formula.

Not true.

 

[auditor0007]

A 1 percenter tells the truth about "job creators"


Nick Hanauer, successful entrepreneur and one percenter, gave testimony on income inequality a few days ago before the U.S. Senate. His testimony in full should be posted in every break room in America:

For 30 years, Americans on the right and left have accepted a particular explanation for the origins of Prosperity in capitalist economies. It is that rich business people like me are “Job Creators. ” That if taxes go up on us or our companies, we will create fewer jobs. And that the lower our taxes are, the more jobs we will create and the more general prosperity we’ ll have.

Many of you in this room are certain that these claims are true. But sometimes the ideas that we know to be true are dead wrong. For thousands of years people were certain, positive, that earth was at the center of the universe. It’s not, and anyone who doesn’t know that would have a very hard time doing astronomy.

My argument today is this: In the same way that it’s a fact that the sun, not earth is the center of the solar system, it’s also a fact that the middle class, not rich business people like me are the center of America’s economy.

I’ll argue here that prosperity in capitalist economies never trickles down from the top. Prosperity is built from the middle out. As an entrepreneur and investor, I have started or helped start, dozens of businesses and initially hired lots of people. But if no one could have afforded to buy what we had to sell, my businesses would all would have failed and all those jobs would have evaporated.

That’s why I am so sure that rich business people don’t create jobs, nor do businesses, large or small. What does lead to more employment is a “circle of life” like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and
hiring. That's why the real job creators in America are middle-class consumers. The more money they have, and the more they can buy, the more people like me have to hire to meet demand.

So when businesspeople like me take credit for creating jobs, it’s a little like squirrels taking credit for creating evolution. In fact, it’s the other way around. Anyone who's ever run a business knows that hiring more people is a capitalist’s course of last resort, something we do if and only if increasing customer demand requires it.

Further, that the goal of every business—profit-- is largely a measure of our relative ability to not create jobs compared to our competitors. In this sense, calling ourselves job creators isn't just inaccurate, it's disingenuous.

That’s why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer. Since 1980 the share of income for the richest 1% of Americans has tripled while our effective tax rates have by approximately 50%. If it were true that lower tax rates and more wealth for the wealthy would lead to more job creation, then today we would be drowning in jobs. If it was true that more profit for corporations or lower tax rates for corporations lead to more job creation, then it could not also be true that both corporate profits and unemployment are at 50 year highs.

There can never be enough super rich Americans like me to power a great economy. I earn 1000 times the median wage, but I do not buy 1000 times as much stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, we go out to eat with friends and family only occasionally. I can’t buy enough of anything to make up for the fact that millions of unemployed and underemployed Americans can’t buy any new clothes or cars or enjoy any meals out. Or to make up for the decreasing consumption of the vast majority of American families that are barely squeaking by, buried by spiraling costs and trapped by stagnant or declining wages.This is why the fast increasing inequality in our society is killing our economy. When
most of the money in the economy ends up in just a few hands, it strangles consumption and creates a death spiral of falling demand.

Significant privileges have come to capitalists like me for being perceived as “job creators”at the center of the economic universe, and the language and metaphors we use to defend the fairness of the current social and economic arrangements is telling. For instance, it is a small step from “job creator” to “The Creator.”

When someone like me calls himself a job creator, it sounds like we are describing how the economy works. What we are actually doing is making a claim on status, power and privileges.The extraordinary differential between the 15-20% tax rate on capital gains, dividends, and carried interest for capitalists, and the 39% top marginal rate on work for ordinary Americans is just one of those privileges.

We’ve had it backward for the last 30 years. Rich businesspeople like me don’t create jobs. Rather, jobs are a consequence of an ecosystemic feedback loop animated by middle- class consumers, and when they thrive, businesses grow and hire, and owners profit in a virtuous cycle of increasing returns that benefits everyone.

I’d like to finish with a quick story.About 500 years ago, Copernicus and his pal Galileo came along and proved that the earth wasn’t the center of the solar system. A great achievement, but it didn’t go to well for them with the political leaders of the time. Remember that Galileo invented the telescope, so one could see, with one’s own eyes, the fact that he was right. You may recall, however, that the leaders of the time didn’t much care, because if earth wasn’t the center of the universe, then earth was diminished—and if earth was diminished, so were they. And that fact--their status and power--was the only fact they really cared about. So they told Galileo to stick his telescope where the sun didn’t shine and put him in jail for the rest of his life.

And by so doing, put themselves on the wrong side of history forever. 500 years later, we are arguing about what or whom is at the center of the economic universe. A few rich guys like me, or the American Middle class. But as sure as the sun is the center of our solar system, the middle class is the center of our economy. If we care about building a fast growing economy that provides opportunity for every American, then we must enact policies that build it from the middle out, not the top down.

Tax the wealthy and corporations--as we once did in this country—and invest that money in the middle class as we once did in this country. Those polices won’ t just be great for the middle class, they’ll be great for the poor, for businesses large and small, and the rich.




​

He's right: except for the very wealthy global plutocrats whose fortune is in no way dependent on the health of the American middle class, most of the merely rich would in fact do better under Keynesian policies also.

But then, we also know that it's a human (and extremely American) impulse to worsen one's own circumstances just as long as it means doing better than the guy next to you. That's what's the matter with Wall Street just as much as it's what's the matter with Kansas.


.




People need to wake up and stop being the willing stooges for the obscenely wealthy.

This is old news. Rich people know it's true but still want to hold on to more of their money while doing nothing to help the rest of society. It's just pure greed. What is nuts is that wealthy people can build even greater wealth when the middle class is strong and thriving, yet that means actually working harder. The easy way to increase wealth is to convince everyone that the rich need to be taxed as little as possible because they are going to create jobs. Remember, "they are the job creators", lol.

What is so amazing is that the 1%ers all know and understand this, yet the stupid ass conservatives who are barely holding on to being middle class believe this stupid notion that lower taxes is the answer and the real problem is a few welfare people living high off the hog on $1000 per month total. At some point, somebody has got to bitch slap these morons silly until they wake up and get it.

It's truly amazing how a few radio talking heads, who happen to be making millions from all those groovy listeners who buy into everything they say, have brainwashed so many people into believing so much nonsense. It truly is scary.

 

[auditor0007]

Producers create jobs. Consumers create incentives for producers to create jobs. It's a circular relationship, not linear. If one side is better off then both sides are better off.

That isn't always true. It's definitely not true currently. If the wealthy are better off due to the middle class being better off, then that is great. But what we have currently is a situation where the wealthy are better off but the middle class is taking it up the ass. This is working out well for the wealthy for now, but that will eventually change. As the middle class continues to deteriorate and fade away, earnings for the very wealthy will plummet. Then everyone will be fucked. I can't wait. Then we will get socialism, the real kind, not the made up kind you conservative dupes cry about everyday.

 

[buckeye45_73]

Producers create jobs. Consumers create incentives for producers to create jobs. It's a circular relationship, not linear. If one side is better off then both sides are better off.

I think the point is that giving tax breaks to the rich doesn't create jobs. What creates jobs is demand and that comes more readily by giving tax breaks to the middle class. It's basic economic theory that the first dollar is much more useful than the last.

Uh, we shouldnt have an income tax in the first place, but if tax breaks dont create jobs, then lets raise it to 100% and not allow liberals to flee the country. Think about how much money we could get!

 

[buckeye45_73]

A 1 percenter tells the truth about "job creators"


Nick Hanauer, successful entrepreneur and one percenter, gave testimony on income inequality a few days ago before the U.S. Senate. His testimony in full should be posted in every break room in America:

For 30 years, Americans on the right and left have accepted a particular explanation for the origins of Prosperity in capitalist economies. It is that rich business people like me are “Job Creators. ” That if taxes go up on us or our companies, we will create fewer jobs. And that the lower our taxes are, the more jobs we will create and the more general prosperity we’ ll have.

Many of you in this room are certain that these claims are true. But sometimes the ideas that we know to be true are dead wrong. For thousands of years people were certain, positive, that earth was at the center of the universe. It’s not, and anyone who doesn’t know that would have a very hard time doing astronomy.

My argument today is this: In the same way that it’s a fact that the sun, not earth is the center of the solar system, it’s also a fact that the middle class, not rich business people like me are the center of America’s economy.

I’ll argue here that prosperity in capitalist economies never trickles down from the top. Prosperity is built from the middle out. As an entrepreneur and investor, I have started or helped start, dozens of businesses and initially hired lots of people. But if no one could have afforded to buy what we had to sell, my businesses would all would have failed and all those jobs would have evaporated.

That’s why I am so sure that rich business people don’t create jobs, nor do businesses, large or small. What does lead to more employment is a “circle of life” like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and
hiring. That's why the real job creators in America are middle-class consumers. The more money they have, and the more they can buy, the more people like me have to hire to meet demand.

So when businesspeople like me take credit for creating jobs, it’s a little like squirrels taking credit for creating evolution. In fact, it’s the other way around. Anyone who's ever run a business knows that hiring more people is a capitalist’s course of last resort, something we do if and only if increasing customer demand requires it.

Further, that the goal of every business—profit-- is largely a measure of our relative ability to not create jobs compared to our competitors. In this sense, calling ourselves job creators isn't just inaccurate, it's disingenuous.

That’s why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer. Since 1980 the share of income for the richest 1% of Americans has tripled while our effective tax rates have by approximately 50%. If it were true that lower tax rates and more wealth for the wealthy would lead to more job creation, then today we would be drowning in jobs. If it was true that more profit for corporations or lower tax rates for corporations lead to more job creation, then it could not also be true that both corporate profits and unemployment are at 50 year highs.

There can never be enough super rich Americans like me to power a great economy. I earn 1000 times the median wage, but I do not buy 1000 times as much stuff. My family owns three cars, not 3,000. I buy a few pairs of pants and a few shirts a year, just like most American men. Like everyone else, we go out to eat with friends and family only occasionally. I can’t buy enough of anything to make up for the fact that millions of unemployed and underemployed Americans can’t buy any new clothes or cars or enjoy any meals out. Or to make up for the decreasing consumption of the vast majority of American families that are barely squeaking by, buried by spiraling costs and trapped by stagnant or declining wages.This is why the fast increasing inequality in our society is killing our economy. When
most of the money in the economy ends up in just a few hands, it strangles consumption and creates a death spiral of falling demand.

Significant privileges have come to capitalists like me for being perceived as “job creators”at the center of the economic universe, and the language and metaphors we use to defend the fairness of the current social and economic arrangements is telling. For instance, it is a small step from “job creator” to “The Creator.”

When someone like me calls himself a job creator, it sounds like we are describing how the economy works. What we are actually doing is making a claim on status, power and privileges.The extraordinary differential between the 15-20% tax rate on capital gains, dividends, and carried interest for capitalists, and the 39% top marginal rate on work for ordinary Americans is just one of those privileges.

We’ve had it backward for the last 30 years. Rich businesspeople like me don’t create jobs. Rather, jobs are a consequence of an ecosystemic feedback loop animated by middle- class consumers, and when they thrive, businesses grow and hire, and owners profit in a virtuous cycle of increasing returns that benefits everyone.

I’d like to finish with a quick story.About 500 years ago, Copernicus and his pal Galileo came along and proved that the earth wasn’t the center of the solar system. A great achievement, but it didn’t go to well for them with the political leaders of the time. Remember that Galileo invented the telescope, so one could see, with one’s own eyes, the fact that he was right. You may recall, however, that the leaders of the time didn’t much care, because if earth wasn’t the center of the universe, then earth was diminished—and if earth was diminished, so were they. And that fact--their status and power--was the only fact they really cared about. So they told Galileo to stick his telescope where the sun didn’t shine and put him in jail for the rest of his life.

And by so doing, put themselves on the wrong side of history forever. 500 years later, we are arguing about what or whom is at the center of the economic universe. A few rich guys like me, or the American Middle class. But as sure as the sun is the center of our solar system, the middle class is the center of our economy. If we care about building a fast growing economy that provides opportunity for every American, then we must enact policies that build it from the middle out, not the top down.

Tax the wealthy and corporations--as we once did in this country—and invest that money in the middle class as we once did in this country. Those polices won’ t just be great for the middle class, they’ll be great for the poor, for businesses large and small, and the rich.




​

He's right: except for the very wealthy global plutocrats whose fortune is in no way dependent on the health of the American middle class, most of the merely rich would in fact do better under Keynesian policies also.

But then, we also know that it's a human (and extremely American) impulse to worsen one's own circumstances just as long as it means doing better than the guy next to you. That's what's the matter with Wall Street just as much as it's what's the matter with Kansas.


.




People need to wake up and stop being the willing stooges for the obscenely wealthy.

So he gave all his money away? first thing Synth, look at what people DO not what they SAY. So until he DOES that, I think he's full of shit.

Second, do you know how business works?

Do companies just grow themselves?

Most start out as small business and then as they grow with demand they HIRE people.

Watch the Facebook movie, Zuckerburg didnt just have a billion dollar company, he created one and hired a lot of people in the process.

Wow do you really think jobs are there simply to give people work?

 

[bripat9643]

I am absolutely amazed that they people on the Right maintain that if we tax corporate profits more, they will stop crreating jobs. This is ludicrus, considering that the cost of labor is an expense, and is therefore deducted from revenues, before arriving at a profit which is then taxed. Increasing the tax rate on corporations increases the incentive for the corporation to hire more people, thereby increasing production, while drecreasing their tax rate. Are these people suffering from some kind of basic economic brain block?

ROFL! That is the most idiotic understanding of economics I've ever seen in black and white. How do higher taxes increase the incentive for corporations to hire more people?

 

[bripat9643]

Here's a simple question for some of y'all. Which came first? The mobile (cell) phone or the demand for it?

Apparently something can just be created simply by desire, without it ever being produced or created.

I call this the liberal "rain creates umbrellas" theory of economics.

 

[bripat9643]

I'm not surprised that you could only cite two widely believed myths to try to undercut me.

the lawless of the western states in the 1800's and robber Barons are now a myth?

Yes, they are myths. They have always been myths.

The wacky Right are rewriting history, back that far?

History is rewritten every day. When you look at the version of history liberals are creating right now, it's no surprise that it needs revising.

 

[Oldstyle]

No. Not at all.

Demand creates most jobs.

That is all that ever created most jobs.

Demand is all that ever shall create most jobs.

Innovation creates the rest of the jobs, jobs in new sectors.

Capital is a tool, a facilitator, more like a rake or a pump.

Next.

EDIT: Inevitably halfwits and maybe someone invested in keeping the sheeple down will follow this post with idiotic voodoo horseshit. My command of the English language is not sufficient to express my contempt for these parrots of nonsense. Even more depressing there will be no data cited and anecdotes of innovation will be claimed to "PROVE" something (innovation obviously creates NEW demand, still demand - at least for the rational reader) or worse, some cocksucker will cite Reagan's debt-fueled canned heater economy without understanding OR ADMITTING the asset inflation that sustained it until about 2001 when it started to founder.

The stupidity of this argument never ceases to amaze me. Demand does not create jobs. An anticipation of profit is what creates jobs.

I've pointed this out dozens of times now and I'll point it out once again...there would be INCREDIBLE "demand" for a $10,000 Corvette...so why doesn't GM build one of those and put tens of thousands to work in the process? The answer quite obviously is that they wouldn't make a profit selling the car for that amount and would in fact lose money.

You will never have job creation unless you are willing to lure investors with the promise of profits that are potentially high enough to be worth the risk of capital. Honest to God, it's like you progressives all slept through basic economics or simply chose to take philosophy instead!

No. All of that is wrong.

Demand creates jobs.

Calling the factual basis for every economic system in history "stupid" means you are almost certainly a brainwashed ReagaNUT. You can't find an argument for supply creating jobs before the mid 1970s.

That would be because that kind of nonsense was laughed at openly. Then came Don Regan and the "new economy" cretins who later crashed LTCM and Laffer, the "quant" community and more parasites than surround a dead carcass in the jungle.

In sum...

You can't show us one CREDIBLE
Supply side thee o' ree
Before the 1970ees...

This ain't the summer of love,
This ain't the clean debate zone
There ain't no new ee-con 'o meee...

And you are a nutball halfwit kookade drinker
Your understanding of eec 'o nomics is like
Junebug Bush's knowledge 'o the art of war.

(chorus)
This ain't the summer of love,
This ain't the clean debate zone
There ain't no new ee con o meeey
And you are a nutball halfwit kookade drinker

​

You give me "song lyrics" as proof that anticipation of profit isn't what drives hiring? Really? I've just pointed out why it is that demand by itself is worthless if there isn't an expectation of profit and you have no response to that except to simply repeat your faulty contention that demand drives everything?

There is a REASON why jobs are lagging so badly in this economy and that reason is that progressives like yourself put cute little "sayings" before common sense. People are sitting on billions of dollars because they don't see a large enough potential for profit by risking that money in growth rather than investing it in say tax free bonds. That's reality...and your silly song lyric isn't going to change it.

It would be nice if our economy was being overseen by adults with an understanding of how business functions rather than the clueless ideologues like yourself that we now have.

 

[OnePercenter]

Prosperity is built from the middle out

Perfectly stated.

 

[Dugdale_Jukes]

The stupidity of this argument never ceases to amaze me. Demand does not create jobs. An anticipation of profit is what creates jobs.

I've pointed this out dozens of times now and I'll point it out once again...there would be INCREDIBLE "demand" for a $10,000 Corvette...so why doesn't GM build one of those and put tens of thousands to work in the process? The answer quite obviously is that they wouldn't make a profit selling the car for that amount and would in fact lose money.

You will never have job creation unless you are willing to lure investors with the promise of profits that are potentially high enough to be worth the risk of capital. Honest to God, it's like you progressives all slept through basic economics or simply chose to take philosophy instead!

No. All of that is wrong.

Demand creates jobs.

Calling the factual basis for every economic system in history "stupid" means you are almost certainly a brainwashed ReagaNUT. You can't find an argument for supply creating jobs before the mid 1970s.

That would be because that kind of nonsense was laughed at openly. Then came Don Regan and the "new economy" cretins who later crashed LTCM and Laffer, the "quant" community and more parasites than surround a dead carcass in the jungle.

In sum...

You can't show us one CREDIBLE
Supply side thee o' ree
Before the 1970ees...

This ain't the summer of love,
This ain't the clean debate zone
There ain't no new ee-con 'o meee...

And you are a nutball halfwit kookade drinker
Your understanding of eec 'o nomics is like
Junebug Bush's knowledge 'o the art of war.

(chorus)
This ain't the summer of love,
This ain't the clean debate zone
There ain't no new ee con o meeey
And you are a nutball halfwit kookade drinker

​

You give me "song lyrics" as proof that anticipation of profit isn't what drives hiring? Really? I've just pointed out why it is that demand by itself is worthless if there isn't an expectation of profit and you have no response to that except to simply repeat your faulty contention that demand drives everything?

There is a REASON why jobs are lagging so badly in this economy and that reason is that progressives like yourself put cute little "sayings" before common sense. People are sitting on billions of dollars because they don't see a large enough potential for profit by risking that money in growth rather than investing it in say tax free bonds. That's reality...and your silly song lyric isn't going to change it.

It would be nice if our economy was being overseen by adults with an understanding of how business functions rather than the clueless ideologues like yourself that we now have.

Yes, it would be good if the US economy were managed by mature economic thinkers instead of feather-waving rattle-shaking "new economy" scum.

No, correlation is not cause. You halfwit nutball fuckfaces got hoodwinked by correlation, the product of borrowed money creating the delusion of prosperity. That kind of stupidity is described in medical textbooks as "mass hysteria". It typically occurs within marginally educated, fearful populations, although your crowd did succeed in stampeding 42% of congressional democrats in 2001-2003, which does more to prove that education itself is compromised than to prove anything about voodoo economics in the context of fright.

But I digress...

You are blinded by justifiable contempt for Obama, the man who imitated Reagan too late. Assets are still inflated, so there is no possibility Obama's idiotic programs can work. IF he had used good will to send checks to America below the mean (nonsavers) the full effects of the crash might have been mitigated. As it is, all he did was prop up the bureaucratic classes pumping tax money back into government.

It was one of the stupidest acts of the century, in fourth place behind the Bush tax cuts, behind invading Iraq, and behind the first Wall Street bailout. Obama is what happens when partisan scum re elect failed presidents (see: 2004).

None of which changes economic fundamentals.

Demand creates most jobs. Innovation creates the rest. Capital is a tool.

Here is how you can prove me wrong instead of making yourself look like an idiot to honest people who understand economics:

Either publish the voodoo (supply side, trickle down) MAJOR ECONOMIES that succeeded before Reagan went on a borrow and spend binge that artificially pumped up the US economy for about sixteen years before starting to crumble in 2001 - or by your silence admit you are as clueless as Reagan or perhaps as venal as Regan, Schulz, Weinberger, Friedman, Greenspan and the rest of the neocon scum and "new economy" hirelings.

No song lyrics here. Show us the voodoo theories that WORKED, then let's talk.

Until then, you're just another kookade drinking ReagaNUT who doesn't understand that demand is to economic growth (job creation, not inflation creation per voodoo horseshit) what location is to real estate: the anchor principle.

Next.

 

[PredFan]

Funny how you liberal nut jobs hate the 1%ers, how they are all thieves, liars, bastards all....until one of them says something you can use, then he's a saint.

Typical liberal bull shit, nothing to see here. YAWN.

 

[Sallow]

My income trickles down and out.

My income comes from the wealthy.

When I have more, I spend more.

You sell yachts? Or Maseratis?

 

[The Rabbi]

so we cut taxes for the middle class and up taxes on the rich

Didn't that drag out the Great Depression until Reagan?
.

Well ACTUALLY, NO it didn't, silly con.

Socialist policies, REGULATIONS and WWII, put people back to work, ended the depression.

The depression caused by deregulation, by the conservatives of the time.

from the end of WWII until REAGAN took office, there was little national debt.
The Dems controlled congress for that 40 years, PERIOD.

The Rich had high taxes, the middle class had similar taxes to today.

the Middle class boomed.

Cons like to rewrite History.

Shall we now discuss how Reagan TRIPLED the national debt, since you bring him up?

You are an ignorant clown. Roosevelt's policies prolonged the recession. Hoover was a progressive. I'd suggest going and reading a book on the subject before you sound even dumber than you already do.

 

[The Rabbi]

I am absolutely amazed that they people on the Right maintain that if we tax corporate profits more, they will stop crreating jobs. This is ludicrus, considering that the cost of labor is an expense, and is therefore deducted from revenues, before arriving at a profit which is then taxed. Increasing the tax rate on corporations increases the incentive for the corporation to hire more people, thereby increasing production, while drecreasing their tax rate. Are these people suffering from some kind of basic economic brain block?

ROFL! That is the most idiotic understanding of economics I've ever seen in black and white. How do higher taxes increase the incentive for corporations to hire more people?

Libs failed econ 101. Actually they never took Econ 101. The whole idea of "money in the hands of the middle and working class stimulates the economy" is such utterly nonsense that only those who are completely ignorant would believe it. Similarly the idea that high tax rates stimulate hiring is so absurd I can't begin to imagine where it came from.

 

[Sallow]

so we cut taxes for the middle class and up taxes on the rich

Didn't that drag out the Great Depression until Reagan?
.

Well ACTUALLY, NO it didn't, silly con.

Socialist policies, REGULATIONS and WWII, put people back to work, ended the depression.

The depression caused by deregulation, by the conservatives of the time.

from the end of WWII until REAGAN took office, there was little national debt.
The Dems controlled congress for that 40 years, PERIOD.

The Rich had high taxes, the middle class had similar taxes to today.

the Middle class boomed.

Cons like to rewrite History.

Shall we now discuss how Reagan TRIPLED the national debt, since you bring him up?

You are an ignorant clown. Roosevelt's policies prolonged the recession. Hoover was a progressive. I'd suggest going and reading a book on the subject before you sound even dumber than you already do.

That's completely incorrect.

First off..It wasn't a recession..it was a depression. You should learn the difference.

Hoover wasn't a progressive. Like Coolidge, he was a laissez faire, free marketer.

That always leads to trouble.

 

[editec]

Most 1% ers make their money from investments not creating jobs. Middle America creates most of the jobs with small businesses.

This thread is bogus

I HATE that 1% meme and I curse OWS for making it part of the political narrative.

I will AGAIN point out that the 1% are MOSTLY not extremely wealthy but rather working professionals and small business owners.

Blaming the 1% for the state of the economy is all part of the stupidity of the LEFT.

It is the left's equivalent to the RIGHT's equally stupid narrative of blaming WELFARE for all our problems.

All that being said, tickle down economic theory is a load of nonsense.

It has never EVER worked to revive a fibrilating consumer-driven economy.