HockeyDad wrote:Who said anything about Trickle Down?! Trickle Up is also widely discredited.
Raising taxes on corporations mean job will be destroyed. Through cost cutting or prices increased. Raising taxes on the rich means they buy muni bonds taxfree.
California is a wonderful but they still can't keep their residents from evacuating eastward. If it weren't for Mexicans, its population would be shrinking.
Cut taxes for everyone and increase govt borrowing is what I suggest.
I used to believe that as well but am beginning to question it as an institutional myth pushed by the wealthy.
Think about it. What do the rich do when they have more disposable cash? You see new jobs, factories, and construction all around the Third World, don't you? Why not here? Too expensive? Give them tax benefits and incentives and they'll just invest more aggressively where they can get a better bang for their dollar, again NOT here.
We're on a downward spiral. Government might as well stimulate matters a bit temporarily if nothing else by giving the poor and soon to be (middle class) a few more discretionary dollars to spend on beer, party hats, cigars, & fantasy football. Thus, giving a semblance of normalcy to our foundering, gangrenous, and rather stagnant economy.