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Originally Posted by mpholland
Precisely. Not to mention, there are ample opportunities for them to take that capital and make even more on certain investments, where the worker doesn't have enough or can't spare the cash to take advantage of it. More money can also be tied up for longer periods which commands even higher return rates. If you can make more money in the market than you can investing it in the "real" economy, why would you invest it. Then, if you get tax breaks on top of it because you "say" you are going to invest it in the economy, you can make even more. Then, when you finally got so much money, the market actually watches you and you become a market manipulator.
Back before Reagan, when the tax rates were a lot higher for the uber-wealthy, it wasn't as easy to attain that stature. Now things are just getting stupid.
I don't remember who said it, but I remember reading a statement on here once that 1,000 millionaires is much better for the economy than a single billionaire, and I wholeheartedly agree.
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I can agree with that on individuals have a verity of needs and wants. They will spend and be divers in there needs.
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Originally Posted by BlueStreak
By "real economy", I'm assuming you mean investing directly in starting a business and hiring people as opposed to simply buying stock and expecting a return? Is that correct?
If so then I agree. Tax cuts for the ultra-rich and corporations who weasel out of paying anyways, are a waste of time and money. It must be invested in the middle class, the people who do the bulk of buying things and building businesses.
Dave
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I don't agree with this, "MUST" nope not at all. It's individual wealth and they are entitled to utilize it in what ever way they chose.
Quote:
Originally Posted by mpholland
Yes Dave, that is precisely what I meant.
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Quote:
Originally Posted by BlueStreak
Thought so.
Do you still agree with this entirely reasonable line of thinking, Dan?
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Some of it, but not the attitude you display that others must do things with their money to help others.
If you believe that I got dibs on your Challenger. You "must" help me since you have more than I do.