Jan 26th 2012, 4:00:53
The super-rich don't create any jobs. Demand by the middle class creates jobs.
Because when demand increases, profit per widget increases, and only then do companies hire. The upper 1% takes whatever they can at all times regardless, always have and always will. If the goal is to reduce the stripping of companies, Congress needs to set ceilings for C-suite and BoD compensation.
"than his total earnings would suggest" - this actually doesn't mean what you think it means. He makes most of his money from cap gains, and that's why the ONLY rate Rethuglicans ever talk about is the payroll tax rate.. they know that the big issue is actually the capgains rate. However, they demonize the payroll tax so as to get you exhausted from debating an issue which is a non-issue for their true constituents.
Raising the capgains rate, however, forces that money to be actually invested - or to be taxed.
1) Lowering taxes (revenue) and balancing the budget (spending) are two very different discussions - which are you proposing?
1A) Social program cuts aren't "needed" to balance the budget.. rather, all you "need" to do is raise taxes, and have a realistic discussion about paying for what you want to spend. Also, eliminate Medicare Part D - a Republican bill which continues to be the largest single component of spending in the budget. Paul Ryan did not propose a serious plan: It assumes a GDP growth rate for 24 straight quarters that has never existed in the history of this country for one quarter.
2) To the question about how many jobs do we "miss" by having a 15% capgains tax rather than 0%? None.
Because when demand increases, profit per widget increases, and only then do companies hire. The upper 1% takes whatever they can at all times regardless, always have and always will. If the goal is to reduce the stripping of companies, Congress needs to set ceilings for C-suite and BoD compensation.
"than his total earnings would suggest" - this actually doesn't mean what you think it means. He makes most of his money from cap gains, and that's why the ONLY rate Rethuglicans ever talk about is the payroll tax rate.. they know that the big issue is actually the capgains rate. However, they demonize the payroll tax so as to get you exhausted from debating an issue which is a non-issue for their true constituents.
Raising the capgains rate, however, forces that money to be actually invested - or to be taxed.
1) Lowering taxes (revenue) and balancing the budget (spending) are two very different discussions - which are you proposing?
1A) Social program cuts aren't "needed" to balance the budget.. rather, all you "need" to do is raise taxes, and have a realistic discussion about paying for what you want to spend. Also, eliminate Medicare Part D - a Republican bill which continues to be the largest single component of spending in the budget. Paul Ryan did not propose a serious plan: It assumes a GDP growth rate for 24 straight quarters that has never existed in the history of this country for one quarter.
2) To the question about how many jobs do we "miss" by having a 15% capgains tax rather than 0%? None.