Should so-called Pres T'Rump give the largest tax-cuts in HISTORY to the richest 1 percent to get the economy going or should he?
threaten them with MASSIVE TAX INCREASES unless the economy improves to some entirely arbitrary figure? The Cons here ALWAYS tell me that the rich hire the people and create all the jobs with good pay and benefits, so I guess that they could PROVE it for once?...Your thoughts?
- Anonymous4 years agoFavorite Answer
Trickle Down Theory of Economics – doesn’t work
The simple-minded idea that cutting taxes on the "rich" suffices to raise the standard of living of all concerned does not have a great track record. Name any economist, outside of an insane asylum, who had ever said any such thing.
The theory dates back to the 1890s when it was called horse and sparrow theory -- i.e., if you feed horses enough oats, it will pass through their digestive systems and their droppings will provide enough leftover oats to feed the sparrows. Regrettably, it's a pretty inefficient way to feed sparrows.
Overall, data from the past 50 years strongly refutes any arguments that cutting taxes for the richest Americans will improve the economic standing of the lower and middle classes or the nation as a whole. However, data shows that any attempt to stimulate economic growth by cutting taxes for the rich will do nothing -- it hasn't worked over the past 50 years, so why would it work in the future? To put it simply and bluntly, top-bracket tax cuts is an ineffective attempt at stimulus that has not cause any growth -- unless, of course, if you're talking about the size of the deficit.
Why is it Republicans only want to cut income taxes which primarily benefit the rich and do not help the poor. Why can't social security be a progressive tax? At least all earned income should pay the same social security tax, not just on the first $108 thousand. (thus rich earners pay a smaller % of social security tax.)
Every time they cut income taxes they raise regressive taxes.
Cutting the income tax does not spur the economy. That does not work.
- LANLv 74 years ago
Every time we prove it, idiots like you keep ignoring the facts that prove what economic idiots you really are. So why bother. You aren't capable of learning anything that you don't want to know. You are a hypocrite and incapable of presenting a single piece of credible fact to support you.
- Anonymous4 years ago
It`s shocking that in this day and age that people such as you could be so uninformed.
- Jeff DLv 74 years ago
Carrots work better than sticks, Dobbin.