Why Obama can't spread the weath around

iVillage Member
Registered: 10-16-2008
Why Obama can't spread the weath around
80
Thu, 10-16-2008 - 10:36am

The problem is Obama will take $1 from Joe the Plumber and maybe end up giving a few pennies to someone in need. Big government doesn't work. When Carter left the White House he left a double digit jobless rate and high inflation. Reagan cut taxes across the board and jobs crew and inflation fell, meanwhile federal tax revenues ONLY dropped 1%. Obama says he's going to return to the Clinton/Reagan tax rates but that's not true, he's going to significantly increase payroll taxes and this will double the impact of his increase in the top marginal tax rate.

Pennsylvania Mom
http://openlettertobarack.blogspot.com/

Pennsylvania Mom http://openlettertobarack.blogspot.com/

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iVillage Member
Registered: 10-14-2008
Fri, 10-17-2008 - 10:15pm

>>> It sounds like you are advocating the "trickle down" theory of economics? If so, this does not work. It is a misconception that by cutting taxes of the wealthy that all will benefit. Simply not true.

It's exactly true. I got a "drip" of the "trickle" today. The bottom line of the company I work for has been hit by the economy...just as it would be hit by higher taxes. They can't raise prices in order to remain competitive, so in order to elevate that bottom line, a memo went out today informing everyone of across the board departmental cuts. This means that incidentals of the business will be cut, but it also means that raises and bonuses just disappeared and some people may lose their jobs. When you put the screws to business...any business...it's the little guy who pays.

iVillage Member
Registered: 10-14-2008
Fri, 10-17-2008 - 10:18pm

>>> It's like if I came to your house and you had a better TV than me and I wanted it.

The liberals would point you to the "other" guy's house. It's the least they could do. ; )

iVillage Member
Registered: 08-05-2004
Fri, 10-17-2008 - 10:29pm

***When you put the screws to business...any business...it's the little guy who pays.***


Assuming the little guy works for the business.

iVillage Member
Registered: 07-29-2008
Fri, 10-17-2008 - 10:29pm
How much of your wealth are you spreading?
iVillage Member
Registered: 07-03-2008
Fri, 10-17-2008 - 10:33pm
Reminds me of the phrase "You can never be too rich,or too thin" Money is everything,but remember "The LOVE of money is the root of all evil"
iVillage Member
Registered: 08-05-2004
Fri, 10-17-2008 - 10:35pm
I'm more worried about inflation than deflation.
iVillage Member
Registered: 04-02-2008
Fri, 10-17-2008 - 10:37pm
if the banks take this money and save it and dont put it into the system wont that cause delflation?
iVillage Member
Registered: 10-14-2008
Fri, 10-17-2008 - 10:59pm
With communism.
iVillage Member
Registered: 10-14-2008
Fri, 10-17-2008 - 11:08pm

>>> Assuming the little guy works for the business. If he doesn't--which many do not--corporate tax cuts do nothing.

Um...righto! Because most "little guys" are independently wealthy entrepreneurs.

>>> As I mentioned before, the little guy still pays in the wake of tax cuts for the wealthy--just in different forms; it is the rich who do not.

Wrong...while 40% of Americans don't pay any income tax at all, the rich pay the highest amount of every kind of tax. The rich do exponentially more to stimulate the economy and when you put the screws to him, their self-preservation reaction eventually hurts the "little guy."

iVillage Member
Registered: 09-26-2008
Fri, 10-17-2008 - 11:10pm

I thought the "little guy" was just you know those lazy uneducated people like janitors,

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