tax cuts for the rich = more money to stash in tax havens, could pay off entire deficit

people who say trickle down works are lying,
because more profit usually means more taxes payed, and some how more jobs for the rest of us.

but what happens in reality is that no jobs are "created" because the rich offshore their money to prevent the tax burdon the extra money would create.

this is the largest "joke" on the average person.

rich man, give us tax breaks and we will spur the economy (of tax shealters and havens)
trickle down will provide people jobs and opportunity.

truth is this "extra" money is sent offshore to prevent paying taxes so cant be used to "create" jobs

this lie has been used for 10 or more years,
the only thing being "created" is a "drain" on the money supply that causes less jobs.

after ten years of watching this madness, i wonder who still believes the rich man who promises this crap?

Add it all up, and we've paid off the deficit, almost twice. More importantly, the avoided taxes and a few other sensible taxes could provide sufficient revenue for job stimulus without cutting the hard-earned benefits of middle-class Americans.

linky

if the rich actually paid their fare share in taxes america wouldn't be in deficit,
and jobs would be created with the extra liquidity.

in short,
the exact opposite of the trickle down lie.

wake up and tax the rich tax avoiders, and there would be no need to lay off police, fire-fighters and teachers.

trickle down is a joke and its on you.

xploder

reply to post by XPLodER


replying to thread as it is not showing up in the subscribed threads lists

can any one tell me how jobs are created while this "extra tax" money is in the cayman islands?

xploder

Originally posted by XPLodER
rich man, give us tax breaks and we will spur the economy (of tax shealters and havens)
trickle down will provide people jobs and opportunity.

this lie has been used for 10 or more years,

Its the poor and middle classes who pay the taxes. They are powerless, unlike the rich who can afford to defend themselves from the state.

A little bit of hoodwinking doesn't go wrong either.

So if we take more money away from the rich, that would create more jobs? No, I don't think that's the answer either.

You nailed the problem in your post. Get rid of the loop holes - all of them. No more tax shelters, and/or offshore accts. When the rich are taxed at the full rate of their tax bracket, on the full amount of their income, then we can talk about adjusting the tax rates for everybody (and I think that would lead to lower the rates for all).

Originally posted by XPLodER
reply to post by XPLodER

 

replying to thread as it is not showing up in the subscribed threads lists

can any one tell me how jobs are created while this "extra tax" money is in the cayman islands?

xploder

Well, I'm sure the Cayman Island Banks employ staff.

Nothing will change until we get the money out of politics.

Get Money Out

If you took all the profits that all companies in the US/Canada/ EU/ South America, it would be enough to pay off every national debt and every individuals debt and have room left over to give every human on earth a huge chunk of change. Not including the Asias (as a whole)

Just sayin'

I don't believe it for a second..

More you give the gov't, the more they'll spend.

I bet Rich paying more taxes would equival about 15% of your defence budget though.

Originally posted by LevelHeaded
So if we take more money away from the rich, that would create more jobs? No, I don't think that's the answer either.

You nailed the problem in your post. Get rid of the loop holes - all of them. No more tax shelters, and/or offshore accts. When the rich are taxed at the full rate of their tax bracket, on the full amount of their income, then we can talk about adjusting the tax rates for everybody (and I think that would lead to lower the rates for all).

There will always be loopholes...because the people who designed the system intentionally put them there to abuse them...when people catch wise to it, they fix the previous loophole with a solution that has a new loophole built into it...then they rinse and repeat.

"Get rid of the loop hols - all of them." to me sounds like the right idea...but not very practical. Just like walking through walls would be the right idea to get out of jail...but not very practical, cuz its just not going to happen.

The system needs to be completely dismantled...

so how does having the rich pay more taxes create more jobs?

So extra tax revenue creates jobs? NO!

For you to create a job you must create a good or service. what raw goods or services does the government provide without taking from someone else first?

Why do the rich hide there money in the first place? because there hiding from high taxes. America is a anti-business country. If we were to lower taxes, more money would be keep here.

Where do you get your information?

If you confiscated all the "rich" peoples wealth it would only pay for government operations for 180 days. Then your out of rich people. I fail to see how taxing rich people fixes everything. All i see is if you tax them more, there going to hide there money more.

Who knows, maybe on day these people will ask for their off shored money and will be told, "what money?"

Never underestimate greed at any level...

Originally posted by misfitofscience
If you took all the profits that all companies in the US/Canada/ EU/ South America, it would be enough to pay off every national debt and every individuals debt and have room left over to give every human on earth a huge chunk of change. Not including the Asias (as a whole)

Just sayin'

edit on 27-8-2012 by misfitofscience because: (no reason given)

haha, and where did you hear that one? I like to see the data to back that up. Apple Inc has the largest cash holdings in the world and they only amount to 76 Billion Dollars.

www.ibtimes.com...

i would just like to point out if the money from the tax shelters was acually in your country being taxed,
the deficiet would reduce and that would reduce the taxes burdon on EVERYBODY

not just the rich

this means more money in your country for loans ect
remember capitalism,
IT ONLY WORKS WHEN YOU HAVE CAPITAL FLOWS

LOL
reading the responses to this op is interesting

xploder

america is based on the money goes up, the sh-t comes down model of capitalism.

or they could just print $15 trillion in bank notes and pay off all their debts.

it clearly says it on each note.

all it takes is paper and ink, oh wait america doesn't possess the ability to print its own currency, scratch this ludacris idea, because then eggs will be $19 a carton or so they tell you.

they way they manipulate the masses, it doesn't even take effort.

reply to post by randomname


capital outflow cycle,
taxpayers bailout the banks,
the banks make profits and offshore the profits for shareholders and traders,
liquidity is sent offshore (stationary)
banks need more money,
taxpayers bailout the banks

rinse and repeat,

this is a syphon for capital to go from moving through the economy,
to stationary in offshore accounts.

and the tax payer pays the bill.
all profits are privatised,
all costs are internalised onto tax payers

all the people saying this will kill jobs are missing the point that to have an economy work you have to have private liquidity in CORRECT QUANTITIES TO FACILITATE COMMERCE,
if too much sits still for to long commerce cant be conducted,


xploder

reply to post by schuyler


you cant have a productive economy if there is no physical or liquid capital flows.

no matter how you want to spin the concept of redistribution, or the like,
the acual maths of it is pretty simple,

if a large percentage of your means of commerce, ie money
is not at home moving through the productive sector,
then there is not enough money to conclude financial transactions,

you end up printing money, and giving it to the offshores as profit,
increasing tax burdons.

its simple supply side math
no money in circulation = no commerce = bailout = higher taxes = more offshoring


xploder

Obama and Romney's biggest donor is Goldman Sachs and Goldman Sachs apparently wants Romney, rather than Obama, to win the election. Incidentally, Paul Ryan was also involved in insider trading with Goldman Sachs..

Typically, in federal elections the candidate that raises the most money wins about 90 percent of the time. In 2008, Barack Obama raised almost twice as much money as John McCain did. 3 of the top 7 donors to Obama's campaign were big Wall Street banks (Goldman Sachs, JPMorgan Chase and Citigroup). Now Wall Street is doing it again. The big Wall Street banks are already trying to buy the 2012 election. So who do they want to win in 2012? Based on contribution patterns so far, the overwhelming favorite of the Wall Street banks to win in 2012 is Mitt Romney. The big Wall Street banks have given to Romney as pile of money that is more than 4 times larger than they have given to anyone else. Even though most Republicans really don't want him, if history is any indication this means that Mitt Romney is going to be the Republican nominee for president in 2012. link

The rich people, like Goldman Sachs, who own Wall Street have enough money to save the United States, however, it would seem as though Goldman Sachs would rather just pay politicians, like Obama, Romney, and Ryan to cede the U.S. to the U.N.. I don't believe that the owners of Wall Street care about the U.S. as much as it cares about taking American money and, rather than using it to help the U.S., they would rather use it to establish the one world government.

reply to post by XPLodER



Mr. Buchheit missed this increase www.bloomberg.com... in his calculation.

Originally posted by Kovenov
reply to post by XPLodER

 

Mr. Buchheit missed this increase www.bloomberg.com... in his calculation.

WOW,

how the?

check this out,

A wedge-shaped chunk of land 96 miles long sitting halfway between Washington and New York, the state of Delaware is home to 870,000 people, 0.3% of the US population. But more than half of the nation's publicly traded companies are incorporated here, including 60% of the Fortune 500 firms. One anonymous office block serves as the registered address of more than 200,000 corporations.

Delaware's status as a corporate honeypot has attracted the unwelcome attention of Luxembourg's prime minister, Jean-Claude Juncker, who last week declared that if his country was to be picked upon as an alleged tax haven, then Delaware should get the same treatment.

tax haven in the us

when owning a post office box in delaware gets you a massive tax break i can understand why the us is in trouble

xploder

reply to post by XPLodER


Math wasn't my strong subject...... Our National Debt is 15+ Trillion, the article shows at most 2 Trillion and change in ways to reduce the deficit. How exactly does that "pay off the entire defict"? Just curious. I guessing they are just talking about the yearly budget shortfall, not the entire National Debt.

I think we as a Nation, have become numb to the numbers...... 15 Trillion is a HUGE number. I don't think most people even can fathom how much that is.