What's Trickling Down Are Lies
Hans Bader fact-checks Obama's ass on Herbert Hoover's supposed tax breaks for the wealthy. In fact, writes Bader at OpenMarket.org:
Herbert Hoover increased marginal tax rates on the wealthy to 63 percent, and more than doubled government spending as a percentage of the economy. But in his political speeches, President Obama continues to falsely claim that Hoover gave "tax cuts" to the rich and slashed the government to promote "trickle-down economics." In his November 14 remarks at a campaign event in Ko Olina, Hawaii, Obama said:So this competition for new jobs and businesses and middle-class security, that's the race I know we can win. But you don't win it by saying every American is on their own. We're not going to win it if we just hand out more tax cuts to people who don't need them, let companies play by their own rules without any restriction, and we just hope somehow that the success of the wealthiest few translates in the prosperity for everybody else.We have tried that, by the way. We tried it for 10 years. It's part of what got into the mess that we're in. It doesn't work. It didn't work for Herbert Hoover, when it was called trickle-down economics during the Depression. It didn't work between 2000 and 2008, and it won't work today.
Hey, maybe you can get your buddy Immelt @ GE to pay some taxes? and while you're at it, get Buffet and Berkshire-Hathaway to shut up and pay their disputed taxes instead of suing the IRS.
Yeah, I know...walking the walk is an awful lot like work...
I R A Darth Aggie at November 22, 2011 10:31 AM
Don't be silly, Darth Aggie. Buffet and GE and such friends are Big Time contributors to the DNC. Only little people pay taxes.
Storm Saxon's Gall Bladder at November 22, 2011 11:54 AM
"Only little people pay taxes."
And that would be the case for every corporation's customer.
Make no mistake: when you ask for a corporate tax, you're actually backing the idea that government can make better use of that money than the stockholders.
Because 100% of the cost of taxation is passed on the consumer. It's an operating expense.
You can become a stockholder. What do you have to do to get that money from government?
Radwaste at November 22, 2011 12:33 PM
What is de facto telling is how personal individuals take everything you write as seen of their comments.
Maximo Fracchia at November 27, 2011 4:44 PM
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