The rich always drive the economy into a ditch when they get another tax break. They do not spend the extra money they receive from tax breaks, they hoard it. It is a gift they received but didn’t work for unless you call lobbying (buying) politicians work. In the 50’s the marginal tax rate for the wealthiest was 90% and the economy hummed along at 5% growth. In the 60’s the rich got a small break and the economy slowed down. Then Reagen gave them an unbelievable tax break and the economy went into the worst recession in 50 years. The Clinton raised the tax rate for the rich and the economy flourished. Bush again gave the rich a tax gift and they drove the economy into the ditch, yet again. Now Obama is trying to even the playing field and the economy is doing better.
This is simple cause and effect. High taxes on the rich means the economy improves because the government then spends the tax money on work for Americans. Low taxes on the rich means the economy crashes and they send their money off-shore where American workers get no benefit.
The rich always drive the economy into a ditch when they get another tax break. They do not spend the extra money they receive from tax breaks, they hoard it. It is a gift they received but didn’t work for unless you call lobbying (buying) politicians work. In the 50’s the marginal tax rate for the wealthiest was 90% and the economy hummed along at 5% growth. In the 60’s the rich got a small break and the economy slowed down. Then Reagen gave them an unbelievable tax break and the economy went into the worst recession in 50 years. The Clinton raised the tax rate for the rich and the economy flourished. Bush again gave the rich a tax gift and they drove the economy into the ditch, yet again. Now Obama is trying to even the playing field and the economy is doing better.
This is simple cause and effect. High taxes on the rich means the economy improves because the government then spends the tax money on work for Americans. Low taxes on the rich means the economy crashes and they send their money off-shore where American workers get no benefit.
Wake up