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Originally posted by illuminnaughty
Well the rich will be able to hire more butlers and gardeners. They could also hire a new cook and even splash out on a hooker or two...
Originally posted by aching_knuckles
The Bush tax cuts on the wealthy have been in effect for nearly 10 years. How many net jobs do we have over that period?
Originally posted by thewholepicture
Yeah, the tax breaks have done a great job in helping people to lose jobs.
With the tax breaks, the rich have no reason to invest in new business opportunities in an effort to make up for the money they are taxed.
Originally posted by thewholepicture
Feel free to correct me if I'm wrong here.
Argument 1: business' will be able to hire more people
The tax breaks are income tax breaks, right? Therefor when you pay a person on your payroll, wouldn't it be a tax write off and that money not considered part of income?
So in essence they would be able to hire the same amount of people with or without the tax breaks, since the paychecks are deducted from income.
Argument 2: It will help people create new companies that give jobs to people.
Start up costs and expenses these companies and people may need to pay in order to start these companies and growth of a company are tax deductible. therefor this argument holds no water.
Argument 3: They already pay so much in taxes, why should they be forced to pay more?
I will agree that the wealthy pay more in taxes than any other tax bracket, but that is because they can afford it. However they don't always pay as much as one might think, as there are many loopholes in our tax codes designed by the wealthy for the wealthy in an effort to already lessen there taxes.
The fact that these cheats want tax breaks will do nothing but make there own pockets thicker.
Originally posted by thisguyrighthere
The more money in people's pockets the more jobs there should be. More money means more consumption. More consumption means more business and industry to satisfy consumption and more business and industry mean more jobs.
The whole "rich people" thing is moot.
Of course in our wonderfully cosmopolitan borderless unified world this basic and fully valid formula looses some potency as consumption on one side of the globe creates jobs on the other side. I guess if you dont mind moving to China or India the formula still applies.
It's high past time to get isolationist. All of us.
Originally posted by lpowell0627
Originally posted by thewholepicture
Yeah, the tax breaks have done a great job in helping people to lose jobs.
With the tax breaks, the rich have no reason to invest in new business opportunities in an effort to make up for the money they are taxed.
You have that completely backwards.
You tax them less, so they do invest in business. Not the other way around. The higher the tax, the less they invest in businesses and job creation.
Their salaries don't take the hit from additional taxes -- the money they spend does.
Originally posted by OnceReturned
The wealthy minority pay the vast majority of taxes.
Originally posted by lpowell0627
reply to post by aching_knuckles
Outsourcing. A rich man's creation? Hardly, rather the greedy government, desperate for even more money to spend, created the problem of outsourcing by making it financial suicide to operate and hire within the US.
Nobody said rich people are stupid. If they can hire someone for 1/5th the cost here, why shouldn't they? Don't you pay 1/5th less on the same product when you can?
The problem is that we need legislation to make it beneficial to hire and operate here. "Rich people" didn't create those laws -- politicians did.