Thread: Looking for those millionaire job creators

Originally Posted by Zaphod

Where the fuck are they?

NPR Tries to Track Down Those Millionaire Job Creators | Truthout

There isn't one. Giving them more tax break will create more jobs is a myth and it needs to die.

they're restricted too much by regulations imposed by bills from the left

Originally Posted by irish_2003

they're restricted too much by regulations imposed by bills from the left

They should move to China and pay 70% tax or face death.

Originally Posted by Chubby

They should move to China and pay 70% tax or face death.

we're on our way to that tax plan with the current administration

Originally Posted by Chubby

They should move to China and pay 70% tax or face death.

Even worse, I'd be in China.

Originally Posted by irish_2003

we're on our way to that tax plan with the current administration

The president doesn't set the tax rate. Congress does.

It apparently isn't poor people holding you back. You are holding yourself back.

Originally Posted by irish_2003

we're on our way to that tax plan with the current administration

you really should try reading...tax rates in the US are at a 60 year low. just about everything you believe to be an an economic fact is incorrect or erroneous at best.

Page 38 of 344

Historical Tables
Budget of the U.S. Government
www.gpoaccess.gov/usbudget/fy10/pdf/hist.pdf

US is a low tax Country
http://www.americanprogress.org/issu...tax_graphs.pdf

I am still waiting for someone to provide objective proof that a 15% tax rate on capital gains and dividends creates jobs.

Originally Posted by Chubby

There isn't one. Giving them more tax break will create more jobs is a myth and it needs to die.

You should become a millionaire and create jobs; it's really easy you know...

ok i've seen the light....i've gonna become a commie and vote for obama....but ONLY if we have those hardcore gov't sportscamps so i can become a machine for the system

Originally Posted by DBowden

I am still waiting for someone to provide objective proof that a 15% tax rate on capital gains and dividends creates jobs.

supply side economics is built all around a "myth" and/or ideology that high taxes prevents innovation and job creation. but there are no mathematical models or formulas, that being the case it is based on science fiction vs science fact.

considering that the US is a low tax country...it simply doesn't hold any water in reality.

when you look at the 5 income quintiles in the US and the amount of income that is derived from capital as a percentage of income it looks like this:

1st income quintile = 0%
2nd income quintile = 0%
3rd income quintile = 0%
4th income quintile = 1-2%
5th income quintile = 27-33%

Originally Posted by DBowden

I am still waiting for someone to provide objective proof that a 15% tax rate on capital gains and dividends creates jobs.

I want to see the same for a 50% rate and 100%...

I thought Obama was headed to a one term presidency, but the republicans are looking like a bunch of retards, most especially Herman Caen who is gone now (what a joke). Newt (serial cheater/liar) probably has the best shot, we already know nobody has the sense to vote in Ron Paul - then again I'm not sure how much he could get in anyway as everyone argues with him.

Originally Posted by LAM

supply side economics is built all around a "myth" and/or ideology that high taxes prevents innovation and job creation. but there are no mathematical models or formulas, that being the case it is based on science fiction vs science fact.

considering that the US is a low tax country...it simply doesn't hold any water in reality.

when you look at the 5 income quintiles in the US and the amount of income that is derived from capital as a percentage of income it looks like this:

1st income quintile = 0%
2nd income quintile = 0%
3rd income quintile = 0%
4th income quintile = 1-2%
5th income quintile = 27-33%

If you want to stimulate an economy you put more money in the hands of people that spend money like sailors on shore leave. People who spend spend spend anytime they get a little extra money, lower and middle class. They will spend more and businesses will see actual increases in profits and realize they can hire more people.

My company is a prime example of this. We needed more guys in my division a long time ago, but my boss kept dragging his feet even though he had the money. Then our sales went up 5 fold and we had to hire more guys to help get product in the warehouse and out to customers, we could use even more guys but, my multi-millionaire boss doesn't want to spend more in a bad economy, which will be the same trend across the country. We are going to have to force job creators hands....

Originally Posted by vancouver

I want to see the same for a 50% rate and 100%...

The rich haven't had it this good, much less corporations. And unemployment is high. Where are all the jobs, then, with all money they're saving?

Where are the fucking jobs?

No fucking answer?

What a farce! Twelve damn years and this sham is still being perpetrated.

Shit, after only 6 years of life, I knew Santa Clause wasn't real.

Originally Posted by maniclion

If you want to stimulate an economy you put more money in the hands of people that spend money like sailors on shore leave. People who spend spend spend anytime they get a little extra money, lower and middle class. They will spend more and businesses will see actual increases in profits and realize they can hire more people.

exactly...this is why the tax cuts that favor the top earners never stimulate the economy or create jobs. this is why supply-side tax cuts have never created any net jobs in US economic history. they need to stop reducing the tax rates for the high income earners and give more tax credits to those in the lower income quintiles that have a greater propensity to spend vs save. tax cuts to high earners only enable them to save and invest more for themselves which obviously does not stimulate the economy in any way.

Originally Posted by DBowden

I am still waiting for someone to provide objective proof that a 15% tax rate on capital gains and dividends creates jobs.

Originally Posted by vancouver

I want to see the same for a 50% rate and 100%...

Originally Posted by Zaphod

The rich haven't had it this good, much less corporations. And unemployment is high. Where are all the jobs, then, with all money they're saving?

Where are the fucking jobs?

Hi, you have received -114429 reputation points from Zaphod.
Reputation was given for this post.

Comment:
Still waiting on your take on where the jobs are from all the money corps and the rich are sitting on

Are you fucking serious, you negged me for this post? I didn't say a low tax rate would create jobs, not fucking once. All that I'm saying is that a high tax rate will not create jobs either. Entrepreneurs create jobs, free markets create jobs and free people create jobs. Government bureaucracy is the greatest tax to the middle class. The government cannot create jobs because it doesn't know how to. It only knows how to spend money. If it takes more money from the rich, all we'll have is nice roads and bridges for a few years, but eventually, everyone will be fucked.

You want to know where the jobs are. Get off your fucking ass, go down to a thrift store, pick up some business books for a dollar and fucking make something out of yourself. It's what I did 15 years ago and guess what??? I haven't begged the government for a job since; I've paid salaries. I don't hate rich poeple, they're my neighbors. And you know what. Life is good.

For all you other guys that find yourself between jobs, don't let the governmnet continue to screw you...you'll get back on your feet.

If anyone other that Zaphod and LAM agee with me, you can show me the love.

You know, even LAM didn't neg me with all the heated debates we had.

Originally Posted by vancouver

Hi, you have received -114429 reputation points from Zaphod.
Reputation was given for this post.

Comment:
Still waiting on your take on where the jobs are from all the money corps and the rich are sitting on

I didn't say a low tax rate would create jobs, not fucking once. All that I'm saying is that a high tax rate will not create jobs either. Entrepreneurs create jobs, free markets create jobs and free people create jobs. Government bureaucracy is the greatest tax to the middle class. The government cannot create jobs because it doesn't know how to. It only knows how to spend money. If it takes more money from the rich, all we'll have is nice roads and bridges for a few years, but eventually, everyone will be fucked.

You want to know where the jobs are. Get off your fucking ass, go down to a thrift store, pick up some business books for a dollar and fucking make something out of yourself. It's what I did 15 years ago and guess what??? I haven't begged the government for a job since; I've paid salaries. I don't hate rich poeple, they're my neighbors. And you know what. Life is good.

For all you other guys that find yourself between jobs, don't let the governmnet continue to screw you...you'll get back on your feet.

If anyone other that Zaphod and LAM agee with me, you can show me the love.

You know, even LAM didn't neg me with all the heated debates we had.

Wait, if lowering taxes doesn't create jobs why do we do it? It seems raising taxes may be a good way to fix another jam we're in, i.e., our skyrocketing debt. And before you say it, I agree cutting spending should be done, but revenue also needs to be raised. You can't deny that starting 2 wars and slashing taxes was a primary driver of our debt.

Originally Posted by Dale Mabry

Wait, if lowering taxes doesn't create jobs why do we do it? It seems raising taxes may be a good way to fix another jam we're in, i.e., our skyrocketing debt. And before you say it, I agree cutting spending should be done, but revenue also needs to be raised. You can't deny that starting 2 wars and slashing taxes was a primary driver of our debt.

I agree with you 100%. I think you and I think a lot alike. I'm not in favour of increased income tax, but rather consumer tax. You can't evade sales tax. If you spend within your means, you're not penalized; but if you're a thrift shopper and your income tax goes up, not only do you spend less, you're penalized anyway.

The U.S. is a consumer economy; it needs people to spend. Increase consumer tax, businesses and consumers will find a fair price for everything and the government (muni and federal) get their taxes. Tax people at source and not only do you fuck the consumer, you get nothing for the money you give the government...

Originally Posted by vancouver

I agree with you 100%. I think you and I think a lot alike. I'm not in favour of increased income tax, but rather consumer tax. You can't evade sales tax. If you spend within your means, you're not penalized; but if you're a thrift shopper and your income tax goes up, not only do you spend less, you're penalized anyway.

The U.S. is a consumer economy; it needs people to spend. Increase consumer tax, businesses and consumers will find a fair price for everything and the government (muni and federal) get their taxes. Tax people at source and not only do you fuck the consumer, you get nothing for the money you give the government...

BTW, most nations that use a consumer tax system do not tax essentials such as food, shelter and medicine. So the system works for the poor or those people who are trying to cut back...

Originally Posted by vancouver

I didn't say a low tax rate would create jobs, not fucking once. All that I'm saying is that a high tax rate will not create jobs either.

the US doesn't have a high tax rate, the US has some of the lowest tax rates in the OECD and the lowest tax rates for all large, wealthy industrialized country's in the world.

the CPI in the US has been manipulated since the days of Nixon to understate inflation by about 5-6%. this is another reason why the loss of a progressive tax system in the US is causing a rapid shrinkage in the size of the middle class in the US.

Originally Posted by vancouver

BTW, most nations that use a consumer tax system do not tax essentials such as food, shelter and medicine. So the system works for the poor or those people who are trying to cut back...

Werd. A Fair Tax. But, it'll never happen. There are entire industries that have a vested interest in the tax code remaining complex and convoluted. Plus, it is completely logical, which is another reason that it would be DOA.

Originally Posted by GearsMcGilf

Werd. A Fair Tax. But, it'll never happen. There are entire industries that have a vested interest in the tax code remaining complex and convoluted. Plus, it is completely logical, which is another reason that it would be DOA.

a fair tax would work in a country that doesn't have high income inequality not suitable for a country with a very high rate of income inequality. to imply that taxing one at the low end of the income spectrum at say 18K a year and another at the high end of the spectrum at 400M a year at the same percentage is fair is simply ludicrous.

Originally Posted by LAM

a fair tax would work in a country that doesn't have high income inequality not suitable for a country with a very high rate of income inequality. to imply that taxing one at the low end of the income spectrum at say 18K a year and another at the high end of the spectrum at 400M a year at the same percentage is fair is simply ludicrous.

Really??? So why is it that most of the Eastern European countries have switched to a flat tax system, starting in 2001 with Russia? Those that have not are leaning towards it. Lots of income disparity there. Not only have these countries incresed tax revenue as a percentage of GDP, they are all seeing their economies grow at an average clip of 6% annually. These countries have also seen a reduction in poverty since making tax reforms. So how do these facts work into your theory??

Keep in mind that most (if not all) have exemptions on the first bit of income; for most of the poor, this eliminates tax. It substantially reduces rates for the lower middle class.

Originally Posted by GearsMcGilf

Werd. A Fair Tax. But, it'll never happen. There are entire industries that have a vested interest in the tax code remaining complex and convoluted. Plus, it is completely logical, which is another reason that it would be DOA.

I totally agree with you...

Corporations are not evil, they simply play by the rules that exist. A flat tax would not only end the BS, it would cost less to run...

Originally Posted by LAM

the US doesn't have a high tax rate, the US has some of the lowest tax rates in the OECD and the lowest tax rates for all large, wealthy industrialized country's in the world.

the CPI in the US has been manipulated since the days of Nixon to understate inflation by about 5-6%. this is another reason why the loss of a progressive tax system in the US is causing a rapid shrinkage in the size of the middle class in the US.

Perhaps this assumption is why you have so much difficulty debating with intelligent people on this board...

The U.S. has the highest corporate tax rates of all OECD countries, according to the OECD.

The U.S. ranks in the middle of the pack for personal income tax.

Not sure which OECD you're getting all of your fact from, but the real one says you're full of shit!!