Replies to post #72950 on Your Economy (No Politics) (YE1)

[trader guy]

That's because trickle down economics isn't much a trickle. More like a very slow drip.

Its happening, but its happening very slowly.

[Ayock]

unless there's a revolutionary change to our economic model


...that is the accurate assessment to a start of a bona fide change in the pit Reaganomics has dug our country. The warped belief that Government is the evil enemy and collecting taxes is appropriate to be percentage wise heaviest on the least able needs to be reversed.

Little will change and the overall economic situation will continue to erode until the control of taxing authorities (read: Congress) gets real (read: Democratic majority) in the waging of tax reform that: ... at a minimum requires loopholes to be closed that allow millions and billions in PROFITS to go untaxed or minimally taxed...creates equitable tax rates that don't give tax rates of 1/3 of what I pay to multi-millionaires, accelerating the asset disparity...stops starving education systems because of lack of funding because - Wait For It - lack of appropriate tax base (however, a dumbed down and/or ignorant populace is necessary to hoodwink the voters into voting against their own and the Country's best interest - so guess who benefits by this one...)

without so much government/taxpayer dependence...dependence on government and the taxpayer is not a sin if you are getting better schools, better roads, dams, air quality, water quality, better law enforcement (read: peace keepers, not militarized swat teams and tanks)...we are ALL miles ahead if the same dollar is spent to educate or job place someone who otherwise would be on the dole or worse yet (privately..hmmmm) imprisoned where YOUR tax dollar is burnt with little to show for it...

Even returning to the early Reagan era tax rates would be a monumental boon to our economy.

I could go on for pages, but you get the idea. ~A

More from a 2011 report:

Thanks to the Tax Foundation and other sources, we've analyzed tax rates over the past century, along with government revenue and spending over the same period.

This analysis revealed a lot of surprising conclusions, including the following:

Today's government spending levels are indeed too high, at least relative to the average level of tax revenue the government has generated over the past 60 years. Unless Americans are willing to radically increase the amount of taxes they pay relative to GDP, government spending must be cut.

Today's income tax rates are strikingly low relative to the rates of the past century, especially for rich people. For most of the century, including some boom times, top-bracket income tax rates were much higher than they are today.

Contrary to what Republicans would have you believe, super-high tax rates on rich people do not appear to hurt the economy or make people lazy: During the 1950s and early 1960s, the top bracket income tax rate was over 90%--and the economy, middle-class, and stock market boomed.

Super-low tax rates on rich people also appear to be correlated with unsustainable sugar highs in the economy--brief, enjoyable booms followed by protracted busts. They also appear to be correlated with very high inequality. (For example, see the 1920s and now).

Periods of very low tax rates have been followed by periods with very high tax rates, and vice versa. So history suggests that tax rates will soon start going up.




Read more: http://www.businessinsider.com/history-of-tax-rates?op=1#ixzz3DjPg07Ky