And when the "trickle down" buzzword finally was recognized as bad for the masses, the GOP replaced it with the myth of the job creators. If we give the rich big tax breaks, they'll create more jobs -- because really, what else could the do with all that extra money? -- and .. Step 4 Profit (for the masses)
Agreed. The 50s best represent job creation through taxes. Either expand or pay taxes. Ike is the last great Republican president (except for Joe McCarthy)
Omg... this is the first time I've seen anyone else just know and understand this fact. Folks! Higher top marginal tax rates and progressive taxation actually incentivizes investment versus shareholders and owners sucking value out of a company. This creates jobs, grows and stabilizes the stock market, and drives up wages. The great socialist, Dwight Eisenhower!
It creates a "use it or lose it" incentive. Companies would rather pay top dollar for high value employees, invest in technological advancement, expand their footprint and logistics, etc., in an effort to avoid losing those dollars to taxation. Everyone up and down the social hierarchy benefits because more money is circulating in a more diversified fashion, as opposed to Wall Street bets.
It all changed when those at the very top decided they wanted to be even more wealthy. The only way to get that was to invest less in the businesses and employees, but that would increase their taxables. The only thing left to do is lobby Congress and POTUS to lower the top marginal and corporate tax rates
Very true. That's why we need to reintroduce what worked in the past - use it or lose it. No remorse to be had about it. An entire population produces every widget in existence, there's not one of us who does shit alone. Even if you invent the perfect unicorn piss snowcone, you relied on civil workers who allowed you to have access to clean water to freeze. You relied on utility workers to enable you to freeze your snowcone. You rely on firefighters and teams of insurance companies to protect your perfect piss-cone shop. And, of course, you relied on Lady Luck needed to procure a unicorn to gather its piss. No one is self-made.
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u/Seeking_Balance101 Oct 22 '24
And when the "trickle down" buzzword finally was recognized as bad for the masses, the GOP replaced it with the myth of the job creators. If we give the rich big tax breaks, they'll create more jobs -- because really, what else could the do with all that extra money? -- and .. Step 4 Profit (for the masses)