I’m good. I know exactly what you’re saying. I’m just waiting for you to explicitly say what you really want to say vs the meandering Sunday drive version of it.
Dave Ramsey telling it like it is
- Thread starter TheGunner
- Start date
Don't tell me you're talking about the completely dis-proven "trickle down economics" as @BNIBoiler likes to put it. How dare you suggest that money flows from the rich to the poor. I see people that live on the streets employ people all the time! TIC
Voodoo economics, Bush the Elder called it, didn’t work in 1980 and will never work.
It's just called economics. It's worked every single time it's been implemented. You're being gas lit with false information on the matter.
Well, “it” didn’t work in 1980 because Carter was president. And yes, Carter was the architect of “voodoo economics” and they were copied by Biden, thus historic inflation under both presidents.
Nope, Reagan was the brain child of that crap. He ran on it in 1980 when his then republican primary opponent Bush the Elder was critic of Reagan’s trickle down economic plan and called it “voodoo” economics.
Um, Reagan didn’t become president until 1981. So the voodoo economics in 1980 were Carter’s.
Stop it with facts. @BNIBoiler can't handle it.
OK, so if you don't believe lower taxes are good for the economy, can you concisely explain (without looking up a liberal talking point) and explain how higher taxes are good for the economy?
Dude, you know full well that I’m talking about the presidential campaign in the Republican primaries with Reagan and Bush the Elder. Reagan was touting his economic plan as president which was that trickle down BS. Tax breaks for the rich and supposedly that money will somehow reach us with jobs and what not. Rarely happens.
Take away the BS tax breaks that the rich have. For example, there is no way someone should be able to get tax breaks for owning a Lear Jet. No way.
Since the burden of taxes fall on the middle class, raising taxes/closing wealthy loop holes, will take the burden off of the middle class.
Ok, so your position is that raising taxes on the wealthy means lowering taxes on the middle class?
Why can't the government keep the tax incentives for the wealthy and also lower taxes on the middle class at the same time?
There will be no income and then the deficit will skyrocket. That's what happened under Chump. You will have to make some serious spending cuts to keep the deficit down to make it close to working.
Should someone get tax breaks for having six or seven kids with no fathers around? Or food stamps because the dad's didn't stay with the mama? Or free childcare?
I'm all for businessowners getting breaks so they can invest more in their business. It's the only way we can compete with the China's of the world. I know a guy who just bought 7 new CNC's at 600K each because of those breaks and the hardest part of that equation....he can't get workers to run them for almost $30 per hour with full benefits after six months.
I rather have tax breaks go for people that really need the money like the poor and more so, the middle class. More so than someone jet setting in a Lear Jet around the world.
Childcare is through the roof. Prescription drugs are through the roof. So yes, close all those BS rich folk tax loop holes and help the middle class with childcare. They need childcare so they can work. The rich can pay for nannys. Yes, help out the middle class and put caps on prescription drugs. How can anyone be against a cap on diabetes meds at $35 per month compared to hundreds per month.
Dude, PLEASE quit listening to Urban radio and believing everything they tell you. Do a little research so you can educate yourself on the subject.
Go to the link and read. I think you'll be surprised that you've been lied to and feel a little foolish for trusting Urban radio.
But here, I'll summarize a couple key points;
Income Tax Rate:
Top 1%: 26%
Bottom 50%: 3.3%
Avg Income taxes paid:
Top 1%: $650,000
Bottom 50%: $667
Share of total federal incomes taxes paid:
Top 5%: 66%
Bottom 50%: 2.3%
Put another way, for every $1 the federal govt collects,$.66 comes from the top 5%, while just $.02 comes from the bottom 50%.
Summary of the Latest Federal Income Tax Data, 2024 Update
The Tax Cuts and Jobs Act (TCJA) made many significant, but temporary, changes to the individual income tax code to lower tax rates, widen brackets, increase the standard deduction and child tax credit, and more.
taxfoundation.org
I have an idea: Would you be in favor of subsidized medications being contingent on meeting certain requirement for weight or BMI? Would that lead to people living healthier lifestyles if there were a financial incentive?
Why not.
Life style changes that lead to weight loss etc, impact everything from hypertension to diabetes.
I'm my opinion, if people want subsidized or price controlled meds, they should have some skin in the game to.
Would you be in favor of wealthy tax breaks contingent on dropping prices by 30%. Or contingent on documented wage increases of 30%. Or contingent on keeping their business in the US. Or contingent on hiring. Right now any proposed or past wealthy tax breaks is/was not contingent on a darn thing.
Did you not see my post about how much the wealthy are already paying a massively disproportionate portion of federal taxes.
How much more do you think they should pay?
The top 5% of earners pay 66% of federal income taxes. How is that fair?
You seem like you're in favor of price controls. Why stop at 30%? How about 50%? Hell, let's go to dropping prices by 75%. Owners don't determine prices, the free market does.
While we're at it, let's limit how much a person can earn on their investments. After they reach the maximum cap, the rest goes to the government in the form of an "Excessive investment earnings tax". Do you like that idea?
Thanks to the idiot Jimmy Carter, Reagan inherited both an economy with record inflation (above 10%) and high unemployment (between 7-8%). Explain to me exactly how Reaganomics didn’t work.🤡.
Reagan solved both
Inflation under Reagan
With Reagan's leadership, the inflation rate dropped to 10.4% in 1981 and then averaged 4.4% for the rest of his two terms. Unemployment followed the inflation rate down, and by 1988 it was about half of what Reagan had inherited. The economy grew year after year, and Reagan ran for re-election in 1984 on the theme, "Morning in America."
Unemployment under Reagan
The unemployment rate hovered between 7% and 8% from the summer of 1980 to the fall of 1981, when it began to rise quickly. By March 1982 it had reached 9%, and in December of that year the unemployment rate stood at its recession peak of 10.8%. The jobless rate slowly receded over the next few years, falling to 8.3% by the end of 1983 and to 7.2% by the 1984 presidential election.
Eutopia doesn't exist...I believe one of the last to attempt it was in Rugby, Tennessee which is a great visit. The buildings still stand, maintained in great shape, but only as a failed British experiment. I've been there twice on the way to my son's lake home and loved seeing it. Take time to go there BNI...And you'll see why it didn't work.
And what you fail to realize as do most liberals, is that American manufacturers can't compete with the China's and Viet Nam's of the world without tax breaks. I know you hate the guy but look at the economy pre covid under President Trump and do so with an open and honest mind.
I've tried so hard not to respond to your last few posts, but it's just blatantly clear that you know nothing about how the economy and business works.
