US National Debt 😓
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Malthus wrote:
Why do you think there is high unemployment and sluggish growth? How do you think taxes affect these two things? The higher the marginal rates, the more incentive there is for top earners to take advantage of tax shelters-legal or illegal. Capital will deployed in the most efficient way possible. If an s-Corp owner's tax bill has a ten percent increase, he will undoubtedly pass that along to workers and consumers.shin-soo choo wrote:
Revenues are down due to sluggish growth, and very high unemployment. Not a 10% increase in income tax for the very high earners (from the 40% higher tax rate, previously levied).Ask the British how there new 50% tax rate on top earners is working?
Please research this. Are you ready for it.....
They brought in LESS revenue.
Tell me, why don't they make the top tax rate 100%? -
Everyone here has intresting points. Raising taxes may be the only solution..
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☣Golden Dino☣ wrote:
That won't fix anything. Half of Americans already do not pay federal income tax. Raising taxes will increase unemployment and make that number even higher. It will further hurt social mobility. And most importantly further disincentivize entrepreneurs and deployers of capital. Why risk a million bucks when I could lose it all if i fail but if I succeed I will only get half of it? I'd rather just sit on the million and go on vacation.Everyone here has intresting points. Raising taxes may be the only solution..
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shin-soo choo wrote:
Did you hear about the $16 muffins they bought for meetings at the white house? Must've been one hell of a muffinnadarrah wrote:
It's not people with spending problems thats the problem. it's the government's spending problems. There are consequences if we have spending problems as individuals. Our government has yet to have any consequences because the federal reserve keeps facilitating the spending by artificially suppressing the cost of money! Basically can just spend and spend and spend because the fed makes it easy for them to do so.shin-soo choo wrote:
..nadarrah wrote:
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☣Golden Dino☣ wrote:
If you cut unnecessary government spending with raising taxes, it will work. Plus if we become more productive and trade more that will help. The president recently had a meeting with china that has to do with why most of the stuff in the US says made in china and why in china, next to nothing says made in the USEveryone here has intresting points. Raising taxes may be the only solution..
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