Originally Posted by Xanathol
Here's a lil history lesson for you - Clinton is responsible for the sub prime loans fiasco, where banks had to approve risky loans. So what happened? With new consumers in the market, the market boomed and Clinton et al claimed it a great success, but of course, all it took was time for people to start faulting on those loans that they couldn't afford in the first place. Spin it forward, add in a war, and here we are. Point is, that 'economic boom' Clinton & the Dems proudly claim was just the lighting of the fuse; our economy now is the true result of that measure.
Now about 'taxing the rich'...
#1. Most rich people actually own companies / corporations... who pass the costs of their taxes right on to the consumers...
#2. The US is already around the top 20 of all nations topping out at ~35%
#3. Small business - which employ most Americans - are taxed at individual rates, so when you talk about raising taxes on 'the wealthy', you're raising taxes on those businesses too, and guess what they are going to do? Raise prices and layoff workers...
Just like the bailout, its flat out bad economics. No one in their right mind spends more / hires more when they have less money to do it with.
You fail to understand the real objective. The idea we will generate more revenue is not in play. Nor does it have any hope of contributing to a lower deficit. Democrats know this very well. The total rvenue projected is insignificant and the likely hood it will slow growth is real even using Obamas numbers. So why then? Because Mr Obama and many others do see successful people as a resouce for funds. That is all. It is a cover rather than doing what needs to be done and get more people back paying taxes at all levels.
Politics makes up its own math. You dont need to understand it. It is measureable however. And therein lies hope for real change if its not too late
Frazod to KC Nitwit..."Hey, I saw a picture of some dumpy bitch with a horrible ****tarded giant back tattoo and couldn't help but think of you." Simple, Pure, Perfect. 7/31/2013
Dave Lane: "I have donated more money to people in my life as an atheist that most churches ever will."
Come home to Jesus Dave. Come home.