Tax cuts for the rich

[sypher]

I have been wondering about how negitive a tax cut to the rich truely is in this capitalist society. I mean sure they may keep most of it in their pockets but wouldn't they, for the most part put in into thier buisnessness so they can get more money in return?

I am sure that you can all give me very good reason on why it is a bad idea and I can't wait to hear them. once again I am sorry for my ignorance.

[sabre]

Because the rich dont need cut taxes because they have no problem paying taxes as they are, but the people who truly DESERVE a tax cut are the lower class members, who have problems paying their bills and taxes. A millionaire doesnt need to pay a smaller percentage than a factory worker- it doesnt make sense - and it fucks over the economy too because the lower class people, if given a tax cut would use that money saved to buy shit, therefore stimulating the economy. no matter how much money the richest 1% has, if the bottom 95% arent spending as much as they should be, the economy gets fucked in the ass

[HS The Whap]

Sypher, your an idiot.

[Disgustipated]

One of the problems with Bush's big tax cut, is that he's cutting tax on stock dividends (money earned on stocks). This would allow corporations to pay the upper management in all stock or stock and a little salary, thus allowing them to not really pay their fair share. This is just one of the problems with his tax cut.

Contrary to what the Republicans say, it almost never creates jobs or new business. It creates wealthier wealthy. Hope this helps a little.

[ID2002]

WTF! Why the hell would you give the richest people a break! .....stupid

[sypher]

Thanks sabre and Disgustipated

I realize how stupid I sounded and I thank you both for your patience with the question. I am now the wiser for it

[sin miedo]

Don't feel stupid, you're just asking questions. Everyone has to learn, we all aren't brilliant genius'. So if you have a question that you might feel is dumb, ask it, most here will give you a straight answer.

[Socialist Pig]

Quote: from ID2002 on 11:59 pm on Jan. 29, 2003
WTF! Why the hell would you give the richest people a break! .....stupid


He wants to stimulate the economy. If the rich pay less taxes, the can afford to buy that 4th private jet they've always wanted. Apparently it's good for the economy, even if the lowest classes suffer.

[Iepilei]

Again, proof that capitalism cannot work on man's goodwill alone - goverment tax cuts for the upper classes to continue investment to stimulate economy, because the rich are too self-absorbed to dig into their own funds to fix shit.

The matra of the 'free-market' system is as true as it ever was. Rich only want the goverment in to help the buisness, yet they want them out when it's time to pay the piper.

The problem I have with the tax cuts is that rich people can already hire tax lawyers to find loopholes in their buisnesses, which can cut tons off how much they SHOULD have to pay each year. Now your just giving them more? Ugh.

[El Brujo]

Well, what do taxes go to? Thats right, to social services (medicare, schools, etc.). If taxes are cut, the rich are allowed to profit more from the workers labour and the workers get fucked oved due to lack of social services (which the rich don't need).

Not only is Bush spending all our tax money on his attempted crusade on Iraq, but he is cutting taxes so the rich can still be disgustingly wealthy while he ruthlessly raids aonther country to steal their oil.

So who gets ultimalely screwed? You tell me.

[mentalbunny]

One arguement the rich might have is that they don't use social services so why should they pay for lazt people who can't get off their arses to wrok, etc.

However this is not the right attitude and it is screwing over millions of people all over the world, from the asylum seekers in Britain to the working class in the US to the people in sweatshops in the third world. It is destrying our world, we forget our common humanity and look down on those to whom luck has dealt a bad hand. Many rich people believe that it is theri right to have this money, etc, because they worked hard for it, and yes some people work up right from the bottom with next to no opportunites but the majority have wel-off parents who send them to good schools, they get good qualifications and society gives them a pat on the back and a job which pays a lot because it screws over the poor in the world, either directly or indirectly (like accountancy which helps the rich stay rich).

sypher, please ask questions, everyone please ask questions and those with more knowledge please feel free to share. Otherwise we are divided and you know what that means...we fall.

[Non-Sectarian Bastard!]

The tax cutes for riches only does even disadvantage a captalist society.

To keep the US economy rolling, there should come new orders for products from clients, American clients.

Most of the USA excists of people of the middle and economical underclass.

While the middle and underclass is busy paying tax, they can't spend that money on buying new products. Meanwhile the Elite has more money left over than they can ever spend due to the tax cute.

One guy doesn't spend an equal amount of money as fast as 100 guys can.

The US economy doesn't get (enough) orders, while the riches go spend their money in holiday places like Paris, Monaco etc. This all affects the US economy and will create a larger underclass and the upper and middle class will shrink.

[Larissa]

Please take a few minutes and read this article:
http://www.guardian.co.uk/usa/story/0,1227...,884449,00.html (http://www.guardian.co.uk/usa/story/0,12271,884449,00.html)
"Bush is offering tax cuts that will cost over $600bn (£380bn), with more than half the benefits going to the wealthy, those making more than $200,000 (£125,000) a year. Of that sum, $150bn is to go to the very wealthy - those making more than $1m a year."

[mentalbunny]

"Bush is offering tax cuts that will cost over $600bn (£380bn), with more than half the benefits going to the wealthy, those making more than $200,000 (£125,000) a year. Of that sum, $150bn is to go to the very wealthy - those making more than $1m a year."

Why, why oh WHY?!!!!!

rich fuckers

[Larissa]

Why? Because they obviously want to "empower the dictatorship of their fucking capitalism!"

[sabre]

hey HS the whap why dont you give the kid a break - he's just trying to learn something new theres nothing idiotic about that

[antieverything]

Umm...If anyone actually wants to gain a real understanding of how these tax cuts are supposed to work and how they do work, read ALL of the following links...or if you are just content to spit ignorant rhetoric, that's cool too.

Myth-A Capital Gains Tax Cut Will Spur the Economy
http://www.korpios.org/resurgent/L-capgainsspur.htm

Myth-A Capital Gains Tax Will Benefit Working Americans
http://www.korpios.org/resurgent/L-capitalgains.htm

Myth-Tax Cuts always Spur Economic Growth
http://www.korpios.org/resurgent/L-taxgrowth.htm

What Bush is currently trying to do strongly resembles the Supply-Side Reaganomics of the 80's...if you read any mainstream financial publication, they will hail these policies as a triumph for right-wing economics. If you have read any of my refutations in the Opposing Ideologies board, you will be able to see how ridiculous this is. If you haven't, or just want to learn more, check out this link.

http://www.korpios.org/resurgent/1THE_REAG....htm#reaganpage (http://www.korpios.org/resurgent/1THE_REAGAN_YEARs.htm#reaganpage)