I know the argument that cutting taxes on the rich will help create jobs, but I’ve never been hired by a rich individual. I’ve been hired by corporations. As long as they cut corporate taxes I’m not getting worked up over this. The rich will find a way to avoid paying anyway.
Yup, the effective rate on the rich would be net zero as the $200b increase on the personal side would be offset by a $200b decrease on investment/business tax income. With stock’s trading at 20:1, that’s effectively a $400b equity value increase immediately ($20b/yr * 20 P/e ratio) for $20b increase in personal taxes. Pretty good trade for the rich.
There was a 90% tax in the 1950s and the rich paid very low to nothing.
Exactly, but don’t try to make that argument to the ideologues...
The reality is sadly the wealth distribution has gotten worse not better in my lifetime... If so much of the wealth is concentrated on as small percentage of the population the only way you can ever fund anything but a minimalist government is through progressive taxation
That’s just the reality of the math... Love to have a minimalist government but we are anywhere near that anytime soon
Your a fool
Most my jobs and including the last job I had was from a rich man who incorperated his small family. business.
Most corporations in America are smalnfamiky owned businesses
Rich individuals often own businesses. Just because you worked for large corporations doesn’t mean everyone does
Those corporations were successful because of talented, skilled and rich senior executives. Without them you wouldn't have a job.
Nice tagline.
I coined the phrase here: Conservatism without Nationalism is like Faith without Works.
” I’ve been hired by corporations.”
The only jobs I ever had. Big and small.
Even small business is a LLC nowadays, minimum. Sole Proprietor is rare. Cutting Corporate taxes creates jobs.
Raising individual income tax on those FAR above the median has little macro impact.