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.
Here's some history, too. Over three decades of Trickle Down Class Warfare have yielded the exact opposite results that it's proponents continue to promise it will produce. How long should the middle class and the working class continue to buy into this scam? Where are the jobs these tax cuts were supposed to produce?
There is a direct correlation between Trickle Down and the continued concentration of wealth and power into the hands of fewer and fewer. That disparity is no coincidence.
The antidote to that illness is not more poison. We've had over thirty years of doing the same thing with horrilbe results. Republicans are nuts to think that the American people should keep doing the same thing expecting a different result.
The proof is in the pudding.