http://promo.realestate.yahoo.com/best-places-for-business-and-careers.html
It would seem that there is some correlation between low taxes and economic and job growth. I am pretty sure that neither economists nor most conservatives are surprised.
Should pro-tax liberals take note, and attempt to see that this lesson can be applied nation wide?
As our economy is becoming less competitive world wide, we have these idiots wanting to raise taxes even more. Even though the rest of the world is cutting taxes!
Beardog: So the fact that we were able to recover from the dotcom bust recession, the 9/11 attacks, and the multiple accounting scandals, and still able to clock a few years of fairly impressive growth means nothing to you?
BTW, I agree that fiscal responsibiltiy was thrown out the window. It would seem that our government operates most sparingly when the branches are split, and each party is trying to keep the other from spending.
Rjay: How exactly will trickle up work, considering that the bottom half of this country already pays ZERO taxes?
It simply boils down to the argument of who can spend our money the best – the government or those who actually earn it.
I think the answer is self evident and it baffles me why there is any debate on this this issue at all.
February 19th, 2010 at 3:54 pm
Thank you! i admire one who can see the truth…
I believe that it will take a long time, if the liberals ever conceed at all…
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February 19th, 2010 at 4:22 pm
History has proven it time and again.
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February 19th, 2010 at 4:56 pm
Hard to tell. At the same time Bush cut taxes, he increased spending at a rate never before seen in this country.
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February 19th, 2010 at 5:20 pm
Well, George W. Bush cut taxes significantly at the beginning of his first term, and it hasn’t seemed to help yet. I’m firmly of the opinion that anyone who voted for him a second time has completely lost their privelege to discuss economic policy or fiscal responsibility in public. Of course the freedom of speech prevents me from making any such rule, despite the best efforts of the GOP, so instead I ignore them as incredible sources.
EDIT: Of course they mean something to me. They mean that the policies in place BEFORE Bush were much more effective. And unchecked growth is what got us into the mess we’re in right now. Growth shouldn’t be the only goal- too much and it’s unsustainable. I believe the word we’ve refused to use is "Bubble".
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February 19th, 2010 at 5:48 pm
You do realize that a vast majority of corporations have left the US altogether and are sheltering their money is tax haven countries like the Caymen Islands correct?
Maybe we should close these loopholes and actually make them pay taxes in the first place.
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February 19th, 2010 at 6:09 pm
the rest of the world isn’t suffering from a large war debt that is growing everyday. how do you think china’s loan is going to be paid off? it is not a forgiveable loan, nor is it a gift.
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February 19th, 2010 at 6:17 pm
It simply boils down to the argument of who can spend our money the best – the government or those who actually earn it.
I think the answer is self evident and it baffles me why there is any debate on this this issue at all.
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February 19th, 2010 at 6:22 pm
Yes and for future reference, conservatives are generally always right.
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February 19th, 2010 at 6:58 pm
JFK thought so.
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February 19th, 2010 at 7:34 pm
The economy would be better served by the implementation of a public works program to shore up our failing infrastructure and put people to work. Reagan and Bush have proved that we need more government regulation and a more centralized and controlled economy.
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February 19th, 2010 at 8:18 pm
I actually believe that lowering taxes does stimulate the economy. However, we simply can’t afford to do so right now, with this massive war debt etc. that Bush has incurred on us… also, lowering taxes AT A HIGHER RATE for the richest Americans is ridiculous in my opinion. If anything, they should get a lower rate of reduction.
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February 19th, 2010 at 8:25 pm
If you want to believe that the top 5% will actually allow any of the crumbs to trickle down . I prefer the trickle up variety. Give all the tax breaks to the poorest and let the others wait for it to trickle Up.
Exactly let them wait for the trickle up.
That’s how the trickle down works. It never happens.
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February 19th, 2010 at 8:59 pm
Absolutely! When we are on the brink of a recession you would not want to raise taxes. Good question!
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February 19th, 2010 at 9:20 pm
the more you give the government in taxes for them to spend as they see fit, the less you have to pay your bills, and give to whom you wish.
One of the main tennants of founding America, Boston Tea Party?
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February 19th, 2010 at 9:43 pm
I think the best way to stimulate the economy is to create jobs—the more jobs, the more spending power, the more revenues for the government….it will go full circle….without jobs any "stimulus package" is only a temporaty fix…..
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February 19th, 2010 at 10:12 pm
It is simple. If the tax payers keep more of their money, they spend more therefore keeping our economy going strong.
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February 19th, 2010 at 10:44 pm
Historically lower taxes allow more investment which creates more jobs. What has caused the problem to a great degree, is the many entitlement programs that take money funded by the Govt. That money comes only from taxes. Therefore you just can’t promise more jobs and keeping our economy going and keep increasing entitlement programs and funding wars
It’s political double talk to say you can deliver on all fronts. Raise taxes for the programs and more businesses fail or move off shore. Decrease taxes and watch spending and business reinvests in our economy. It’s our choice.
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February 19th, 2010 at 11:22 pm
the republicans are only interested in low tax rates for the wealthy. And rather than paying their fair share, they will drive this country to bankruptcy with our futures mortgaged to china. Only Hillary has addressed this issue in a meaningful way. Edwards did too but he is out of the race.
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February 20th, 2010 at 12:03 am
It is simple economics. Think about what actually happens to you.
When you make more money, what do you do with it?
Most of us in the Lower and Middle Class tend to spend the money on improving our "things", our house, car, furniture, etc. Does that not mean there is more money flowing in the economy? Does that not mean businesses are earning more money and have to hire more employees to produce the products that are in a greater demand?
For the Upper Class, they invest the money either in larger "things", open new businesses for tax purposes, and/or donate a larger amount to charities. And again, isn’t that putting money back into the economy?
Now think about what democrats want to do, raise taxes on the oil companies because the executives are making so much money. What do you think will happen if they do that? Same thing that has happened with other manufacturing companies, they will move out of this country. How good will that be for the US economy? What’s more, who do you think is going to pay that tax? If the cost of doing business increases, then the cost of the products produced increases. So oil companies produce gas…..
Be afraid of these stupid democrats in Congress. They will force a recession and eventually a depression upon us if they are allowed to.
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February 20th, 2010 at 12:48 am
"Low business costs" is code for low wages and rents. Haven’t you ever wondered how so many businesses can be profitable in Raleigh but not in New York, even though corporate tax rates are practically the same (only 0.6% flat-rate difference)?
Based on your implied theory, the best place in the nation to do business should be in Mississippi*. But MS’s share of total national GDP is 0.6%. Even NY surpassed MIssissippi in state GDP growth for the year 2006. (2)
To answer your question, no. Those days are gone. It could only conceivably apply when the TOP MARGINAL RATE was 90%.
Warren Buffet has said even in those days he didn’t wake up wondering if he had entered the top bracket the day before, all he wanted to do was go out and make more money.
Apparently, conservatives aren’t as motivated by greed as their theory proposes- they get lazy once they hit the top bracket.
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*http://www.taxadmin.org/fta/rate/corp_inc.html
2) http://www.bea.gov/regional/gdpmap/GDPMap.aspx
February 20th, 2010 at 1:01 am
It’s a simple equation folks. Learn something here:
Bush has been doing tax cuts for the last few years and what have they done? Sent us into a recession that he denies. If you lower taxes and continue to spend like the government does, at some point you have to start borrowing money, thats why the dollar has fallen so far down the ladder. Lower taxes and then ask for 80 billion to send over to Iraq, where do you guys think that money comes from? They print more money which in turn makes the value go down. It’s a simple equation. We continue to borrow from China and rely on their goods that it has sent our currency falling down and saturated our businesses with poisonous low-rate goods that are being distributed to our children…why? Because the government doesn’t have the money to fund all of it’s "adventures" because they lowered taxes. I mean I hate paying taxes but we need to realize that someone has to pay for this stuff.
I travel and I just came back from Amsterdam and Germany and can you believe the Euro is getting close to doubling the American dollar. So at the exchange I had to pay almost $32.00 for 20 euro.
Thats not cool folks
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February 20th, 2010 at 1:41 am
you just dont get it do you, get your nose out of the books and go live in the real world for a while~!!!
they will keep telling you this forever and ever and cook the books to make you believe whatever they want~!!!
when a regular person tries to work and has to pay all these hidden taxes their are, gas, food, commodities in general~!!!
then if one of the two working family menmbers gets the flue, has to take a week or two off, good bye job, goodbye credit card balance, good by food, get behind in utility bills, behind in car payment, whoops insurance payment, whoops licence and registration of vehicle has went up again, but sreets still have pothole that knocked my suspension clean out of whack,
whoops have to go buy new tires, whoops ect….ect…….~!!!!
none of these little things that add up and break OUR backs and bank accounts are ever even noticed by the RULING ELITE when prices go up, and THEIR taxes are lowered~!!!
give me a break, Reagoanomics has never worked and never will~!!!
he was a dope, it dont trickle~!!!
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me!
February 20th, 2010 at 2:16 am
In theory it would work if they did what they were supposed to do which was open factories, create jobs etc. But that’s not the case and we know it. I assure you they bought a boat, car, exotic vacation or McMansion instead. Yeah I know someone will say isn’t that creating a jobs. Well no, how many cars can a rich person buy? Then you have someone like Ben Affleck who said he got a million dollar tax break year before last. He’s an actor. He doesn’t own any factories nor have a desire to build one. He might have 1 or 2 assistants that’s it.
The Oil companies got a tax break, record profits and executive bonuses. We got high gas prices, mazzola in our gas tanks, no new refineries and a $10 trillion deficit. For the millions spent corn oil is all Bush could deliver? The oil companies didn’t do that, Farmer John did for a subsidy.
I think the oil companies and others should be taxed with the money going to pay down the deficit and companies with a VIABLE alternative energy idea. The oil companies have virtually no incentive to do that. It would cut into profits.
Wars aren’t cheap, schools cost money to build and run and if people did what they were supposed to do we wouldn’t have laws.
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