Quote:
Originally Posted by Riot
I'm not listening to Pelosi in the least. I'm listening to every economist in the world. You might try not politicizing things that have nothing to do with politics, and learn something.
Guess what, Dell? Putting money into stocks, REIT's, T-bills and bonds - to save in tax liabilities - is exactly why giving money to rich people does NOT go back into the economy, and decreases government income. All those things you listed above takes money OUT of the economy. You just proved my point. Thanks 
Consider this: Bush initiated massive tax benefits to the wealthy in 2001 and 2003. Since that time we've lost 800,000 jobs. Gee - doesn't seem to work the way the GOP says it does, does it? |
You say these things as they were factual.
Cutting taxes on the wealthy increases gov't income.
Tax payments by millionaire households more than doubled to $273 billion in 2007 from $132 billion after the tax rates were cut in 2003. The number of tax returns with $1 million or more in annual reported income doubled over that period thanks to the strong economic rebound.
You seem to fail to grasp the fact the a stronger economy is a far greater generator of govt revenues than raising tax rates. That is a fact.