Imagine a country that taxes corporate profits at 100% and a neighboring country that taxes corporate profits at 0%. Which country will have higher job growth, all else equal?I would like to know just exactly how lower corporate tax rates stir economic growth and opportunity for the vast majority of Americans who have little to do with Wall Street.
Trickle down supply side economics hasnt done much for the majority of regular Americans. Thats a fact. We have been steadily lowering the corporate tax rate in America since the Reagan 80's. And it hasnt done shit for job growth. What sounds good doesnt translate all that well in reality. There is very little to ZERO evidence to support the idea that lowering coporate tax rates creates jobs. What really creates jobs are alot of regular folks with purchasing power (spending a decent paycheck they got on Friday on a Saturday afternoon). Another fact. Not many have decent paychecks if a paycheck at all these days. A 10 dollar an hour wage service economy cant purchase much no matter how cheap product prices can get. How does lowering corporate tax rates change that? It hasnt yet. And it wont because its bullshit.Imagine a country that taxes corporate profits at 100% and a neighboring country that taxes corporate profits at 0%. Which country will have higher job growth, all else equal?
OK, how did our corporate tax rates compare to those of other countries during this period? I could agree or disagree with your position and find "facts" to support either position. To me, supply side economics describes capitalism, which I believe has lifted more people out of poverty than any other system. So you and I likely have won't agree based on our confirmation biases. If you want to make our corporate taxes the highest in the world, I fear you would not get the long term results you are hoping for. I could be wrong. I don't see economics as black and white, more like a million shades of grey.Trickle down supply side economics hasnt done much for the majority of regular Americans. Thats a fact. We have been steadily lowering the corporate tax rate in America since the Reagan 80's. And it hasnt done shit for job growth. What sounds good and looks good on paper doesnt translate all that well in reality.
I like Milton Friedman and would not characterize his economic positions as you do. I respect that you have different views than I do. We just disagree.What I can't fathom is how proponents of trickle down supply side economics can still defend it as viable to a robust thriving economy for ALL a nations citizenry. Facts are facts. And trickle down/lower corporate taxes is complete and utter horseshit.
I enjoyed Capitalism and Freedom and Free To Choose, both books my M. Friedman. I can't say you describe them accurately so I'll just say if you would like to learn more on the positions you misrepresent, both are excellent reads. No worries if you are not interested. Have a great day!All it does it create fat dividends for Wall Street players. For what? So a very few can buy bigger yachts? A few people buying bigger yachts does not a thriving economy make. Period!!! Sure...the bigger yacht buyer is happy. So happy he can influence Wahington politicians and the media (which voters and proponents take in) with all that cash to keep the train rolling.
I have read alot of books by Friedman. And I was a card carrying active member of the Libertarian Party for years. Until I woke up.I enjoyed Capitalism and Freedom and Free To Choose, both books my M. Friedman. I can't say you describe them accurately so I'll just say if you would like to learn more on the positions you misrepresent, both are excellent reads. No worries if you are not interested. Have a great day!
What would you recommend I read then?I have read alot of books by Friedman. And I was a card carrying active member of the Libertarian Party for years. Until I woke up.
Pick a title by Wolff (I'm assuming he is further left?) and I'll pick it up.I suggest Richard Wolff or Robert Reich over Friedman anyday.
Capitalism Hits the Fan by Richard Wolff really opened my eyes.Pick a title by Wolff (I'm assuming he is further left?) and I'll pick it up.
Do you recommend I watch the 2 hour lecture on YouTube or purchase the book?Capitalism Hits the Fan by Richard Wolff really opened my eyes.
You're the one being dismissive because for some strange reason you refuse to acknowledge that wealthy people make their money not through wages but through dividends, asset appreciation and capital gains, all of which are taxed at vastly lower rates than wages. It's called 'unearned income' for a reason, and that reason is taxes.I have demonstrated that our federal tax system is progressive. You should concede the point and apologize, or disprove me.
Dividends and cap gains are taxed at lower rates to drive capital formation, which drives growth. You are welcome to argue for higher taxation here but it will slow growth, no free lunch.
I think I'm done with your dismissive attitude for today. Best wishes to you.
The more educated you are on the workings of the system, the more you understand who benefits and who is being gamed by it.Either or. Both really. For a dose of lefty points of view. And yes I read books by alot of economists. Not that hard.
Because Fox and Friends said so, of course!I would like to know just exactly how lower corporate tax rates stir economic growth and opportunity for the vast majority of Americans who have little to do with Wall Street.
Funny how America had its best years of job growth when corporations had high tax rates. Or is looking at historical data not good enough for you?Imagine a country that taxes corporate profits at 100% and a neighboring country that taxes corporate profits at 0%. Which country will have higher job growth, all else equal?
Cool, I'll try to check out the video this evening. Thank you.Either or. Both really. For a dose of lefty points of view. And yes I read books by alot of economists. Not that hard.