Bad Bob Loc: Virginia

Carol Kelly

Democrats have been using this hue and cry for decades. The rich people who are getting tax breaks also provide jobs that put food on the table on many homes.

son of witless

Not so fast. It seems as if your belly aching is having it's intended effect on a few of the Rinos. Someone has brought a lump of coal for America's Christmas stocking. The stock market dropped today on the bad news.

Bad Bob Loc: Virginia

Please quote my "belly aching".

Kevyn

Jobs at pennies an hour in China.

son of witless

If you would search you would see that many new jobs are going begging for workers, which magically means higher wages for everybody. That is how it is supposed to work. Those new jobs are here in America, not in China. Thank you President Trump.

son of witless

As you wish. " https://www.yahoo.com/finance/news/rich-win-big-final-gop-tax-cut-bill-192122480.html "

Larry the Legend Loc: Not hiding in Milton

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100…

If they paid their bill the way we pay our taxes, it would go something like this…

The first four men (the poorest) would pay nothing.

The fifth would pay $1.

The sixth would pay $3.

The seventh would pay $7..

The eighth would pay $12.

The ninth would pay $18.

The tenth man (the richest) would pay $59.

So, that’s what they decided to do..

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve ball. “Since you are all such good customers,” he said, “I’m going to reduce the cost of your daily beer by $20”. Drinks for the ten men would now cost just $80.

The group still wanted to pay their bill the way we pay our taxes. So the first four men were unaffected. They would still drink for free. But what about the other six men? The paying customers? How could they divide the $20 windfall so that everyone would get his fair share?

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man’s bill by a higher percentage the poorer he was, to follow the principle of the tax system they had been using, and he proceeded to work out the amounts he suggested that each should now pay.

And so the fifth man, like the first four, now paid nothing (100% saving).

The sixth now paid $2 instead of $3 (33% saving).

The seventh now paid $5 instead of $7 (28% saving).

The eighth now paid $9 instead of $12 (25% saving).

The ninth now paid $14 instead of $18 (22% saving).

The tenth now paid $49 instead of $59 (16% saving).

Each of the six was better off than before. And the first four continued to drink for free. But, once outside the bar, the men began to compare their savings.

“I only got a dollar out of the $20 saving,” declared the sixth man. He pointed to the tenth man,”but he got $10!”

“Yeah, that’s right,” exclaimed the fifth man. “I only saved a dollar too. It’s unfair that he got ten times more benefit than me!”

“That’s true!” shouted the seventh man. “Why should he get $10 back, when I got only $2? The wealthy get all the breaks!”

“Wait a minute,” yelled the first four men in unison, “we didn’t get anything at all. This new tax system exploits the poor!”

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks, so the nine sat down and had their beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and government ministers, is how our tax system works. The people who already pay the highest taxes will naturally get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas, where the atmosphere is somewhat friendlier.

Bad Bob Loc: Virginia

That's not me Witless.

roy

When has trickle down ever worked,never and it want now. And when it doesnt work this time around whos going to loose? Will it be trump and the ones that are benifiting the most out of this tax plan,no it will be the middle class and retired people who pay,but is that not their plan anyway.

son of witless

We generally post links to sources that support our viewpoints. Wasn't that what you were doing ? Sorry, my mistake.

son of witless

It is not trickle down. It is simply the indisputable, that means you cannot question it, law of supply and demand. Once again, labor is a commodity. Liberals are not capable of perceiving that concept. Why do TV talking heads, even on third rate political talk shows with few viewers, make more money than somebody who contributes far more to society like say the guy who cleans the toilets in your favorite restaurant ? Supply and demand. Almost anyone can clean a toilet. Very few can sit in front of a TV camera and sling the guano.

Government is inefficient at spending money. Rich people spending money do it two ways. Either they are buying things for their pleasure or they are investing in the hope of getting even filthier rich. Both ways they are buying labor. The more rich people buying labor the more demand for labor. Now if you are smart enough to limit the supply of labor by building a border wall, then wages go up because workers will go to whomever pays the best and treats them well. Scrooge will either pay up or Bob Cratchet takes a walk and goes to work for Scrooge's competitors.

Bob Cratchet should not be working a minimum wage job just because no rich people other than scrooge are hiring. Why is the concept so foreign to Liberal Zombies ?

emarine

it didn't work all that well in the 80's when we still had a large labor force ... long before we off shored most of our labor to China & India's slave labor wages resulting in the huge corporate profits we see today...

Larry the Legend Loc: Not hiding in Milton

I seem to remember the 80s were generally boom years. Once Paul Volker brought the Fed under control, life was pretty good. Unless I was one of the 'lucky few'.

emarine

Maybe for some... but at a cost ...This is a difficult question to answer, because of the mythology that surrounds the increase in the Social Security tax, during Reagan’s administration. A little background as I understand it.
All money contributed to Social security must be held in a Trust, which is entirely invested in government guaranteed securities which are T Bills essentially
Reagan’s tax breaks for the rich created a gigantic deficit, not to mention the other ruinous Republican economic policies also enacted at the time.
With Alan Greenspan in cahoots with the Reagan economic advisors, a Social Security tax increase was passed which was promoted at the time as a way to strengthen SS and allow it to continue into the future.
This created a surplus in the SS fund at the time, which of course the government “borrowed” to offset the shortages caused by the tax cuts.
So what essentially happened was that the tax cuts for the wealthy created a deficit which required borrowed money to satisfy. By increasing the amount of the SS Trust fund to the point where a surplus existed in excess of what was required to pay benefits at that time, the Reagan people created a new source for government borrowing. The government borrowed the excess by issuing those T Bills, and then using the money for the General Fund, to make up for the shortage that the tax cuts caused.
And this has been going on ever since. The amount that has been borrowed from the fund to date, according to some articles I’ve read, amounts to roughly $3 Trillion